The association says that keeping textile products along with products like electronics, mobile phones under the same GST slab would not be consistent from an overall economic rationale
Citi says that the tariff hike is a huge setback for India’s textile and apparel exporters, as it has further complicated the challenging situation
The India-UK free trade agreement is likely to be signed post the formation of new government at the Centre. “The legal vetting of the trade deal is on. Even if we iron out the last few issues, the deal cannot be announced till elections are over and a new government is formed” a senior government […]
Indian textiles firm Trident reported a nearly 25 per cent drop in its third-quarter profit, hurt by a rise in expenses, even as consumers bought more home linen during the festive season. Trident, which counts cotton as its principal raw material, reported a 16 per cent increase in overall expenses for the quarter that ended 31 December with raw […]
Raymond reported a third-quarter profit rise on Thursday, as strong demand for its high-margin branded clothes and real estate offers outpaced cost increases. The company’s consolidated profit after tax nearly quadrupled to 1.84 billion rupees (USD 22 million) in the three months ended 31 December, according to an exchange filing. Following the results, the company’s shares rose 1 per cent. […]
The Union Cabinet has given the green light for the extension of the Scheme for Rebate of State and Central Taxes and Levies (RoSCTL) for the export of apparel/garments and made-ups. The approval comes to foster a stable policy regime, crucial for the long-term planning of trade, particularly in the textile sector where advance orders […]
Exports from India to Australia have grown by 14 per cent to USD 5.8 billion in April-November this fiscal year due to the strong growth of various sectors, such as engineering, pharmaceuticals and electronics, according to a senior official’s statement on 29 December. The interim free trade agreement implemented on 29 December last year has […]
The manufacturing sector in India has been witnessing proliferating growth in investment, depicting a crucial phase in the country’s economic arena. As per the published dossiers by the Department for Promotion of Industry and Internal Trade (DPIIT), the manufacturing sector engrossed substantial Foreign Direct Investment (FDI), with FDI equity inflows tallying around USD 17.51 billion […]
MAS Holding’s Chairman, Mahesh Amalean on Monday met Odisha Chief Minister Naveen Patnaik and told him about the company’s interest in setting up an integrated textile and apparel manufacturing facility in Odisha. Amalean informed Patnaik about his company’s portfolio. The project can provide employment to more than 5,000 people. During the discussion, the Chief Minister […]
The market for Indian textiles and apparel manufacturers could reach USD 350 billion by 2030, owing to the long-term positive outlook for the Indian economy and a strong focus on emerging areas such as technical textiles, home furnishing, specialised fabrics and fashion apparel, according to the FICCI-Wazir Advisors report. “The transformational change for the textile […]
