Dollar has been hardening, making Indian textile and clothing exporters happy. With negligible import content for the domestic industry, and the Government’s bid to curb cheaper import, good times are ahead, reveals the ITJ Cover Story.
Browsing: Rahul Mehta.
At the 55th Annual General Meeting of The Clothing Manufacturers Association of India (CMAI), which was held very recently in Mumbai, Rahul Mehta was reelected as President
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.
Misfortunes have come in battalions for textile exporters ? firstly GST dilemma, then, hardening of rupee and now the axe on duty drawback rates. An exclusive ITJ Report throws some light on the issue.
The long-awaited GST rates have sparked off many a smile and a few wails in the textile industry! While the majority of textile industry, particularly the garment industry, has gone gung ho over the new rates of GST, synthetic textile segment has been crying hoarse, legitimately over the 18 per cent rate.
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.
The fabrics displayed by Birla Cellulose at National Garment Fair had a high tinge of innovation in line with consumer trends forecasted by international design consultants.