The Apparel Export Promotion Council had organised ‘Fabric of Unity’, an event to celebrate Indian textiles, an embodiment of National integrity of the country.
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The Budget 2018-19 is good in part for the textile industry thanks to corporate tax cut for MSMEs and higher allocation of ATUFS. The ITJ Cover Story takes stock of the Budget implications and the industry’s reactions.
Finance Minister Arun Jaitley in the Union Budget 2018-19 raised special package by 19 per cent to Rs 71.48 billion for apparel sector to boost exports. In 2016, the government had announced a special package of Rs 60 billion for the same purpose.
The number of facilities certified to the Global Organic Textile Standard (GOTS) kept on growing last year, from 3,663 facilities in 2014 to 3,814 facilities in 2015. GOTS is recognised worldwide as the leading processing standard for textiles made with organic fibres. GOTS certified facilities are now located in 68 (63 in 2014) countries around the world.