Continuous exports growth gives confidence to exporters on easy sailing with GST
The Dollar Business Bureau Federation of Indian Export Organisation (FIEO) on Friday said that the continuous growth in exports gives confidence to the exporters in India on easy sailing with GST. The new regime of Goods and Services Tax (GST), which will subsume most of the indirect taxes, is expected to be rolled out from July 1, 2017. “The exports data for the month of May, 2017 showed yet another consecutive and positive growth depicting the strength and competitiveness of Indian industry,” said Dr A Sakthivel Regional Chairman FIEO Southern Region. India’s exports have surged 8.32% to $24 billion in the month of May, keeping the growth trajectory for straight eight months, according to the latest data released by the Ministry of Commerce. Dr Sakthivel ...
Indo Count Industries acquires 82.5% stake in ICRVL
The Dollar Business Bureau India-based home textile firm Indo Count Industries has acquired 82.5% stake in Indo Count Retail Ventures Pvt Ltd (ICRVPL) from its Promoter Anil Kumar Jain. With this, ICRVPL has become a subsidiary of Indo Count Industries, the company said in a statement on Wednesday. Indo Count Industries is the second largest exporter of bed sheets, bed linen and quilts in the country, as per Cotton Textiles Export Promotion Council (TEXPROCIL). The company is one among the top three bed sheet suppliers to the US. It manufactures products for several international brands including Debenhams, Bed Bath & Beyond, Sam’s Club, Laura Ashley, JC Penny, John Lewis, Walmart, Target and Macy’s. It has a production capacity of 90 million meters at its Kolhapur ...
APTMA urges cotton export to India be put on hold
The Dollar Business Bureau All Pakistan Textile Mills Association (APTMA) has asked its government to stop exporting cotton from Pakistan to India. The industry body is urging to protect the interests of Pakistan textile industry. Cotton exports to India without determination of the crop size for FY 2016-17 will hurt the textile industry in Pakistan, APTMA Chairman Tariq Saud said. The industry has already been burdened with 35% decrease in cotton crop production in the country during FY 2015-16. Due to this, it has been importing more than 4 million bales of cotton for its domestic consumption, he said. Cotton cultivation in Pakistan is expected to decline around 25% in FY 2016-17. This will ultimately result in low crop produce in the country. ...
Control GM seed price, not licensing fee: Experts
Sharath Chowdary The Union government had recently withdrawn the notification on licencing guidelines for genetically modified seed technology issued on May 18, 2016. Experts from the industry have welcomed the government’s decision to withdraw the conditions on GM seed licencing fee. According to them, the earlier notification was disastrous to the industry as it would have sent wrong signals to foreign investors. The new decision has once again sent a positive note on the future of the textile industry, J. Thulasidharan, Vice Chairman of Confederation of Indian Textile Industry (CITI) told The Dollar Business Bureau. The CITI is an apex national body of the textile industry. Thulasidharan is the Managing Director of Rajaratna Mills Ltd and also the President of the Indian Cotton ...
Govt must expedite free trade talks to push exports: TEXPROCIL
Deepak Kumar | The Dollar Business India’s cotton textiles industry has asked the government to expedite the free trade agreement (FTA) talks with the European Union, Australia and Canada so as to remove trade barriers and ensure access to greater markets for textile exporters. “There is a scenario of tariff preference. They are looking at Canada, Australia and other countries we don’t have FTA with. There are other components involved in it. We are pushing for it and we expect these things to be taken up soon,” the Cotton Textiles Export Promotion Council (TEXPROCIL’s) Executive Director Siddhartha Rajagopal told The Dollar Business. In August 2015, cotton textiles exports declined by 7.39% to $863.18 million as compared to $932.02 in August last ...
