Union Textiles Minister Smriti Irani will inaugurate an apparel and garment making centre here to be used for skill development, market linkages and management support. “The salient objectives of the project are promotion of entrepreneurship in apparel manufacturing; provision of state of t…
Tag: Textiles
FDI in textiles ‘far from satisfactory’: Study
FDI flows into the textile sector have been “far from satisfactory” due to factors like lack of trade agreements with key markets, underdeveloped infrastructure and complex labour laws, a study has claimed. “Despite India offering a large domestic market, competitive labour cost…
India to utilize China’s decline in textile export; unveils unique package
The government is planning to announce a special package of Rs 6,000 crores to achieve the target of USD 48.5 billion in current financial year, informed an official press release. The Minister of State for Textiles, Ajay Tamta has said, “Government is planning to achieve the target of USD …
Good monsoon may push FY17 GDP growth beyond 8% | Crisil
A good monsoon with even rainfall distribution across regions will give a boost to farm sector and may push India’s GDP growth beyond the 8 percent mark in the current fiscal, Crisil said. However, stress in rainfall in certain parts of the country and excess downpour in some other regions …
Exporters too can give Made-in-India tag
A section of Indian exporters will be able to certify goods headed for Europe from 2017 to the effect that they were made in India, a measure that will help reduce processing time as well as costs. This facility will be available to traders exporting goods under the European Union’s special…
Cabinet clears Rs 6,000 crore package for textile sector
The government has announced a Rs 6,000-crore package for the textiles and apparels sector to help it wrest a bigger share of the global market. The package also provides the sector more flexible labour laws and financial incentives. It hopes the package will create one crore new jobs in three ye…
Government should give fiscal support to boost handicraft exports: Industry body
The government needs to take several steps like providing fiscal support for skills training and upgradation of machines with a view to boost labour intensive handicrafts sector, an industry body has said. Besides a slowdown in traditional markets like the US and Europe, significant decline in co…
Govt eyes Australia, Africa to boost textile exports
The Union Textiles Ministry is looking at Australia, the Commonwealth of Independent States and Africa to boost exports through bilateral agreements as free trade agreements (FTAs) with the European Union and the US are delayed. The Ministry is chasing a target of doubling textile exports in 10 y…
Exporters happy with broad Budget thrust, though wanted specific steps for relief | EEPC India Chairman T S Bhasin
Welcoming the broad thrust of the Budget which realises the headwinds faced by Indian exporters in the global markets, EEPC India Chairman T S Bhasin today said emphasis on rail and road by increased investment along with better port connectivity should help the foreign trade in the long run. Eas…
Mumbai’s NTC land to become MSME hub
The textiles Ministry plans to set up Micro Small and Medium (MSME) units in the land available at the National Textiles Centre (NTC) mills in Mumbai. These units would be allied sector of textile industry, said Santosh Kumar Gangwar, Union Minister of Textiles, Independent Charge. On the sidelin…