The government encourages exports by refunding various taxes and levies so as to make all the exporting commodities remain competitive in the globalised environment.
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Ashwin Chandran, Chairman, The Southern India Mills’ Association (SIMA) has thanked the Duty Drawback Committee and the Government for considering the inputs given by the textiles and clothing industry and enhancing the rates marginally across the value chain.
The 60th Annual General Meeting of The Southern India Mills’ Association (SIMA) was held on September 9, 2019 at The Residency, Coimbatore.
The 60th Annual General Meeting of The Southern India Mills’ Association (SIMA) was held on September 9, 2019 at The Residency, Coimbatore.
The Southern India Mills Association (SIMA), an apex body of spinners in India, appealed to the new Central Government to resolve Technology Upgradation Fund (TUF) issues to boost job creation and exports.
Technical textiles has been identified as the thrust area for an exponential growth by the Government of India and also by all the State Governments considering its potential for value addition, exports, domestic demand, etc.
The Hank Yarn Obligation Scheme (HYO) was introduced during 1963 directing the mills to pack 50 per cent of domestic weaving yarn delivery in hank form.