Search Result for : Textiles Ministry

The Dollar Business Bureau India’s textiles market is likely to reach $250 billion in the coming two years from the present level of $150 billion, according to a study.  “The market size of India’s textile market is expected to touch $250 billion in the next two years from the current level of $150 billion,” said a joint study conducted by ASSOCHAM-Resurgent on ‘Women in Textiles & Handicrafts Industry'. “The textile sector in India makes up for about 10% of the manufacturing production, 5% of the country’s GDP and 13% of its exports earnings,” the study said. The study observed that the textiles and apparel sector is the 2nd biggest employment provider with around 51 million people directly and more than 68 million people indirectly ...

Aamir H Kaki The Government has slashed the rates under the Rebate of State Levies (RoSL) Scheme on export of garments and textile made-up articles to 0.39% from 3.9%, which would impact the industry in a huge way. A notification issued by the CBEC on Thursday said,  “The Ministry of Textiles has issued notification (No.14/26/2016-IT) dated June 27, 2017 revising the rates of rebate in Schedules I, II and III for the RoSL Scheme effective from July 1, 2017. The revised rates are 0.39% for RoSL and 0.23% for RoSL under Advance Authorization-All Industry Rates (AA-AIR) combination respectively." “These revised rates on garment and textile made-up exports under RoSL Scheme are applicable to exports with Let Export Order dates from July 1 onwards,” ...

PTI The India International Garment Fair (IIGF), the country's largest garment show in South Asia covering apparel and fashion accessories, begins in Delhi on Wednesday. The three-day fair provides a platform to overseas garment buyers to source products and forge business relationships with Indian players in the apparel and fashion accessories domain. The 58th IIGF caters primarily to Autumn-Winter 2017/18. A total of 312 participants from 14 states are participating in the fair. The sellers would be showcasing womenswear, accessories, kids wear and menswear," Textiles Ministry said. The 58th edition of India International Garment Fair (IIGF) will be held from January 18 - 20, 2017. The 58th IIGF caters primarily to Autumn-Winter 2017/18. Organized by Apparel Export Promotion Council (AEPC) ...

Sharath Chowdary The Union government had recently withdrawn the notification on licencing guidelines for genetically modified seed technology issued on May 18, 2016.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 ...

The Dollar Business Bureau  The government will soon launch the revised Technology Upgradation Fund Scheme (TUFS) to accelerate textile and jute production and support export oriented units. The scheme, first launched in 1999, is aimed at accelerating investments in the textiles sector through 5% interest reimbursement. It also focuses on quality, branding and exports of textile products at a faster scale. Speaking at the Annual Conference of State Textiles Ministers 2015 on Wednesday, S K Panda, Chief Secretary of Ministry of Textilse, said, “The Technology Upgradation Fund Scheme (TUFS) is in the final stage of revision and it will be notified soon. Unfortunately, level of technology in our domestic market is very low; so when our product goes to the international ...