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Apparel and Textile News

Provision for Textile Infrastructure in Budget Increased to Rs, 1860 Cr in 2017-18

With the vision to increase output and jobs in the textile sector by Prime Minister, Narendra Modi, the Union Budget has given a major boost to textile infrastructure by almost three times in increasing the allotment for building textile parks, incubation facilities, processing and development centres. The textile infrastructure provision has been increased from Rs 506 crore in FY17 to Rs 1,860 crore in 2017-18. These increased funds will also…
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Apparel and Textile News

Powerloom Cloth Manufacturers Demand Textile Business Clusters

The Tamil Nadu Small Powerloom Export Cloth Manufacturers Association has submitted a memorandum to the textiles ministry and urged to set up business clusters and regular markets in various districts of the country, which has a major weaving industry. They demanded the ministry to assign the funds required for the same in the upcoming union budget. “The ministry has assured adequate allocation of funds for the same, if state governments…
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Apparel and Textile News

CMAI Expresses Anguish Over Excise Duty

Clothing Manufacturers Association of India (CMAI) has expressed its anguish over the imposition of excise duty on the ready-made-garments and made ups segments of the textile industry as proposed in the union budget for 2016-17. In a representation to the textile secretary, Reshmi Verma, CMAI president, Rahul Mehta pleaded for reconsideration of the proposal especially when the entire textile and clothing industry in the country is already going through a…
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Apparel and Textile News

TEA Welcomes Union Budget 2016-17

Tirupur Exporters’ Association (TEA) president, A. Sakthivel has welcomed the Union Budget presented by the finance minister, Arun Jaitley in Parliament yesterday and said it has addressed the requisitions made by the Association. While complimenting the Budget as positive one, Sakthivel said the focus of infrastructure and initiatives for “Ease of Doing Business” will go a long way in improving the economy as well as reducing the transaction cost.  He also expressed happiness on…
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Apparel and Textile News

Branded Garments Prices To Go Up By 2-5 %

Prices of branded garments are set to go up by “2 to 5 per cent” with the centre levying excise duty on ready-made products of or more in the Union Budget for 2016-17. While presenting the Budget, finance minister Arun Jaitley said, “I propose to change the excise duty on branded readymade garments and made up articles of textiles with a retail sale price of and above from 'Nil without…
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Apparel and Textile News

Retailers Seek Tax Benefits In The Union Budget

Apparel retailers expect a continuation in current tax benefits in the forthcoming Union Budget 2016-17 and are seeking additional reductions both in taxes directly related and not directly related to the industry. “The expectation is to address the problems of the sector at large,” Arun Ganapathy, CFO of Spykar said. “It is imperative that the budget does not tax too much, and consumers are optimistic about the economy and ready…
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