The Ministry of Textiles has proposed two new schemes – New Powerloom Credit Yojana and Solar Energy Scheme –for the powerloom sector.
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The Tamil Nadu Government has announced new schemes for promoting handloom, textile and khadi industries. A sum of Rs 175.23 crore would be spent on modernising six cooperative mills in the State. For the benefit of powerloom workers, 50 per cent subsidy would be provided to around 1,500 employees towards their insurance premium. Unveiling the new schemes, Chief Minister J Jayalalithaa said handloom, handicraft, textile and khadi industries contribute the second highest revenue to the State, next only to agriculture.
The Central Sales Tax on the yarn is two per cent, while in Tamil Nadu, the Value Added Tax (VAT) is five per cent on cotton yarn
The Central Sales Tax on the yarn is two per cent, while in Tamil Nadu, the Value Added Tax (VAT) is five per cent on cotton yarn
Global growth is forecast at 3.5 per cent in 2015 and 3.8 percent in 2016, with uneven prospects across the main countries and regions. Growth in emerging market economies is softening, reflecting an adjustment to diminished medium-term growth expectations and lower revenues from commodity exports, as well as country-specific factors.
Global growth is forecast at 3.5 per cent in 2015 and 3.8 percent in 2016, with uneven prospects across the main countries and regions. Growth in emerging market economies is softening, reflecting an adjustment to diminished medium-term growth expectations and lower revenues from commodity exports, as well as country-specific factors.
The 57th AGM of the Confederation of Indian Textile Industry (CITI) held in Mumbai portrayed a dismal picture of the textile industry in India. It was none other than the Chairman, Prem Malik, who painted and highlighted the negative trends that are smothering all the hopes for the textile industry.