With almost all textile bodies hailing the GST rate for the industry, Tirupur Exporters Association has requested further reduction in the ‘job work on apparels’ sector. Thanking the GST Council for timely intervention for reduction of GST rate for job work in textiles, TEA President …
Tag: Raja M. Shanmugham
TEA welcomes Tamil Nadu’s tax free budget
Tiruppur Exporters’ Association (TEA) has welcomed the tax free Tamil Nadu Budget 2017-18, which has been presented in Tamil Nadu Assembly by D Jayakumar, the state’s minister of finance. The association said that the people will benefit from the schemes announced in the budget that i…
Knitwear exporters dejected over RBI decision on repo rate
The Tirupur Exporters’ Association (TEA) said the Reserve Bank of India’s decision to keep the repo rate unchanged at 6.25 per cent has disappointed the exporting community, which was expecting a reduction in interest rate, post demonetisation. The reduction in interest rate is the most important…
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…
Budget Wishlist: Knitwear Capital seeks tax breaks, upgraded tech & better infrastructure
The knitwear capital of India Tirupur has its pre-budget wish-list all set and demands for adequate infrastructure, R&D centre and incubation centre to empower textile clusters with world-class industry infrastructure facilities. Presently clusters like Tirupur are focused more on basic style…
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 to attract Rs. 1 lakh cr investments by 2025
The Indian textile industry is expected to attract Rs. 1 lakh crore investments in technical textiles by 2025, according to M. Senthil Kumar, Chairman of Southern India Mills’ Association. At a conference on technical textiles and non-wovens organised by Federation of Indian Chambers of Commerce …