Promise of new measures from the Government, much-awaited GST on the cards, hints of the decentralised segments attaining maturity that will spur demand for textiles augur well for the textile industry in 2016 and beyond, recounts an Exclusive Report by Joseph S and Karthik M.
Browsing: Technology Upgradation Fund
Spinning has been good in India, but looking at the trend unfolding in the last six months, it needs a relook. One is the Technology Upgradation Fund (TUF) which has been temporarily stopped. Secondly, the yarn export to China has virtually come to a standstill.
The predominantly cotton based textile industry has been producing almost 75 per cent of the spun yarn from cotton and therefore, this industry has been subjected to crisis due to volatility in the prices.
Industrial sector consumes the highest power in India – about 49 percent of the total energy production in the country. Textile industry consumes the third highest energy in India.
The Indian textile industry, employing over 105 million people, has been pleading for several urgent measures relating to Technology Upgradation Fund (TUF) scheme, levies on man-made fibre duties, enhanced incentives under Focus Market Scheme to compensate partially, the disadvantages in the tariff rates for Indian textile products prevailing in various countries till the FTAs are finalised.
The office of the Textile Commissioner was established in 1943 during the World War II for arranging the supply of cloth to the defence forces as well as civilian population.
The office of the Textile Commissioner was established in 1943 during the World War II for arranging the supply of cloth to the defence forces as well as civilian population.