The Economic Coordination Committee (ECC) of the Cabinet Islamabad in Pakistan after detailed discussions and deliberations considered and approved the proposed ´Textiles Policy 2014-19′ subject to deletion of section 12.3 of the policy related to textile development fund out of export development fund. Federal Minister for Finance Senator Mohammad Ishaq Dar chaired the meeting of the Committee here at the Prime Minister’s Office.
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An amount of Rs 288.4 crore have been released for setting up of textile parks in the country during the last three years,´ Textiles Minister Santosh Kumar Gangwar said.
The taxation of goods and services in India has hitherto been characterised by multiplicity of rates and this has left the industry and service providers at a disadvantageous position in the global market.
According to the 2012 International Textile Machinery Shipment Statistics report of the Switzerland-based International Textile Manufacturers Federation (ITMF), Indonesia was the third-largest importer globally in 2012 of short-staple spindles, with 594,288 or 5.7 per cent of the total; the third-largest importer of shuttleless looms, with 3,727 or 4.3 per cent; and also the third-largest importer of large circular knitting machines, with 1,350 or 3.7 per cent.
EURATEX welcomes Serge Piolat as its President taking the office in January 2015 for a two year term. Piolat, succeeding Alberto Paccanelli who headed EURATEX during the last four years, pointed out: ´Alberto Paccanelli achieved impressive results in consolidating the voice of the European textile and apparel companies.
Coimbatore district, known as the textile hub of Tamil Nadu or is called as the ´Manchester of South India´, has over 900 textile mills, 7 million spindles, 1 lakh rotors, 2 lakh powerlooms, 99,000 automatic shuttle looms, 59,000 plain looms, 39,000 semi-automatic looms, and over 70 per cent of machinery, spares & accessories, rotors, etc.
In the global economy, diverging confidence indicators point to uneven expansion and producer confidence in manufacturing, says Edwin De Boeck, Chief Economist, KBC Group (a leading Belgian bank), while presenting his views in a Euratex convention in Brussels.