The labour intensive sectors which are mostly micro, small and medium enterprises (MSMEs) like handloom, handicraft, leather, sports goods etc have been provided with duty free entitlements with effect from July 1, 2017.
Browsing: handicrafts
Minister for Textile and Handlooms KT Rama Rao requested all legislative leaders to encourage promoting and boosting of handlooms and handicrafts sectors across Telangana.
According to a KMPG report, FDI equity inflow in the Indian textile and clothing (T&C) sector has surged 16 per cent in FY2015-16 over FY2013-14. Major investments (by foreign collaborators and Indian companies) in the sector during April 2014 to March 2016 are also mentioned in the report which include investment worth $51.94 million in Fashion India Private Limited by E-Land Asia Holdings Pte Limited; $37.58 million in Procter & Gamble Home Products Ltd. by Procter & Gamble Home Products Ltd.
India’s handicraft exports have increased by more than 8 per cent during the last fiscal, touching nearly Rs 31,000 crore, revealed Textiles Minister Smriti Irani in the Lok Sabha. “According to the provisional data available, the exports of handicrafts have shown an increase of Rs 2,414.79 crore from Rs 28,524.48 crore to Rs 30,939.27 crore — an increase of 8.46 per cent in rupees term in 2015-16 as compared to previous year,” she said.
Severe competition on global level and lack of initiatives and direction on the domestic front have made a dent in India´s textile exports with a dip in figures for FY 2014-15, diminishing the scope of achieving the cherished goals. S Joseph & M Karthik take an overall look at the scene.
Minister of State for Textiles Santosh Kumar Gangwar laid the foundation stone for apparel and garment making centre in Aizawl, the capital of Mizoram, and hoped the centre will be the beginning of setting up of an organised industry in the state.
Over the last 10 years, India?s textile and apparel exports have grown at the rate of 11 per cent. After the phasing out of export quotas in 2005 India?s export performance has been below expectations. Vietnam and Bangladesh have shown remarkable success.