Demand for apparels is expected to slowdown in near term following the government’s decision to demonetise high value notes, and and winter-wear segment would be the worst affected, rating agency ICRA said in a report here. The adverse impact of the demonetisation on disposable incomes and …
Tag: textile industry
India plans roadshows for promoting textile exports to new markets
Plummeting textile exports have prompted India to look outside traditional markets and tap the ones being served by competitors such as China. The Textiles Ministry is planning to do roadshows to promote Indian textiles in the new markets, officials said. “We used to hold roadshows earlier and we…
Textile industry should innovate, think beyond cotton: Kaytee Corporation, MD, Premal Udani
The Indian should adapt, innovate and invest in the weaving and processing sectors as also market itself relentlessly to survive and sustain, said Premal Udani, Managing Director, Kaytee Corporation. Speaking as the Chief Guest address at the Southern India Mills’ Association’s 10th CEO Co…
Textile industry awaits GST rate
The textile industry is watching to see what the final rate of tax under the proposed goods and service tax (GST) regime would be. This is because of the tax implications the new law will have on major input goods going into the textile production process such as cotton and man-made fibres. Accor…
Textile sector MSMEs welcome Smriti Irani with high hopes
After announcement of special package by Government of India, Textile industry looks at appointment of high profile Smriti Irani as Textile Minister with high hopes. Industry sources are looking forward to Irani to driving growth and achieving the export target of $300 billion by 2024-25. Accordi…
Textile Industry threatens 2-day production holiday a week
As cotton prices shoot up to Rs. 5,800 a quintal, textile industry is reeling under severe pressure and facing scarcity of raw material. With a not-so-favourable export market and the increasing cost of operations, the industry has decided to declare a two-day production holiday every week in pro…
Textiles Minister launches eco-friendly jute bag initiative in Delhi
It is well-known that the indiscriminate use of polythene bags is one contributor to the pollution problem in the national capital. The National Green Tribunal (NGT) has on multiple occasions, tried to ban use of plastic carry bags in Delhi. However, we find these plastic carry bags continue to b…
MSME Growth to be New Mantra of Govt | President Pranab Mukherjee
President Pranab Mukherjee has indicated MSME development, which has large-scale job creation potential, will be the new mantra of the Prime Minister Narendra Modi Government which presents its second full budget on February 29. In his address to the joint sitting of Parliament, Mukherjee said Mo…