Search Result for : Tirupur

The Dollar Business Bureau Textile industry welcomed the fixing of reasonable rates under the Goods and Services Tax (GST) regime on most of the items and also thanked the Finance Minister Arun Jaitley for quick conclusions on the subject.  Commenting on the GST rates, A Shaktivel, Regional Chairman, Federation of Indian Exporters' Organisation (FIEO)’s Southern Region, said that the lower rates under GST across the products that have high potential of exports will go a long way in encouraging ‘Make in India’. The pharmaceuticals, leather and footwear, food products and textiles received a good deal in new tax regimes, he said in a statement.  On textile sector, Shaktivel said that the decision of lower tax rates under GST for natural fibre, fabrics, made-ups and apparels ...

The Dollar Business Bureau In a bid to push the growth of the textile sector, the Tirupur Exporters' Association (TEA) has requested the Centre to provide successful textile clusters with better infrastructure like world-class design studio, research and development centre and incubation centre for technical textiles. The intention has been conveyed in the pre-budget memorandum submitted by the association to Finance Minister Arun Jaitley underlining the need of good infrastructure as a way forward to entering niche segments. This will pave way for the industry to cash in on newer opportunities and allow growth of the already established textile business. According to TEA president Raja M Shanmugham, the government also needs to address the issue of permanent migration of skilled labourers by building ...

The Dollar Business Bureau India’s garment exports from Tirupur, grew by 16.3% to Rs.23,050 crore in 2016. Tirupur is the main hub for knitwear in the country. It contributes nearly 90% of total cotton knitwear exported from the country. India’s total apparel exports were $7.78 billion in 2015, and its top five markets were the US, UAE, the UK, Germany, and France. “Exports from Tirupur would sustain growth in the current fiscal too following good demand from EU and this can be doubled if the Free Trade agreement (FTA) is finalised,”  A Sakthivel, President of Tirupur exporters association opined. “We have seen growth in Europe, we are getting new buyers. Exports can jump to Rs.50,000 crore if the FTA with EU is in place,” ...