Powerloom units will take a hit if the GST on man-made fabric (MMF) is kept at the proposed 18%, industry officials said. Powerloom accounts for more than 86% of the total MMF production in India while the rest comes from other segments like handlooms, hosiery and mills. Incidentally, the GST on …
Tag: M Senthilkumar
Textile units fret over 18% GST, fear job cuts
The textile industry has said it is worried over government’s decision to impose 18 per cent GST on manmade fibre as the levy will dent the margins of firms manufacturing synthetic yarn and could lead to job losses. The industry is also uneasy about the effect on jobs like weaving, knitting…
Union Budget 2017 provides big boost to textiles sector; Here’s why
Higher fund allocation for labour skilling and end-to-end logistics solutions, including rail and coastal shipping last-mile connectivity, will help the country’s textile industry to achieve the $350-billion target in next few years as set by the union government, industry experts have said. Thou…
Potential in technical textile sector yet to be tapped properly
Lack of awareness and lesser penetration in rural areas was the reason the vast potential in the technical textile sector could not be tapped properly,a senior Textile Commissioner official said, even as major textile associations extended support for the sector’s growth. Though the sector …
Textile industry hails package for made-ups, hopes to boost exports
Textile industry associations have hailed the Centre’s announcement of a special package for the made-ups sector. The package includes 10 per cent enhanced subsidy under Technology Upgradation Fund Scheme, extension of Pradhan Mantri Paridhan Rozgar Protsahan Yojana Scheme for providing additiona…