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The proposal of Bangladesh Textile Mills Corporation (BTMC), which works under the ministry, to revive the 13 textile mills under a public-private partnership (PP) initiative which were shutdown 25 years ago due to huge lossess, would be placed before the Cabinet Committee on Economic Affairs on Wednesday, according to an official of the Ministry of Textiles and Jute.

Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) to encourage value addition, reduce cost of doing business and bridge the gap between production and consumption is urging the authorities to relax duties on yarn import.

Welspun India , Mumbai-based world's second largest terry towel producer developed the technology to verify the origin of cotton, after a large customer terminated a contract following mislabelling of provenance of fibre in certain consignments. It has emerged as the first global textile entity to patent a fibre-tracking technology, turning adversity into opportunity.

NEW DELHI: Apparel Export Promotion Council (AEPC) on Monday urged textile minister Smriti Irani and commerce and industry minister Suresh Prabhu to reduce the new rates fixed under the GST regime.

Speaking at an event organised by AEPC here on Monday, AEPC chairman Ashok G Rajani said that exporters are not getting incentives under Remission of State Levies (RoSL). Earlier, the industry used to receive RoSL of 11.30 per cent but now it has come down to 6.5 per cent.

Exporters are also facing a crisis in shipping their products abroad, especially in European Union. The EU levies a 12 per cent duty on Indian cotton while Bangladeshi and Vietnamese cotton are exempt from any duties.Echoing the concern faced by the sector, Amitabh Kant, CEO of Niti Aayog, said, “It’s high time to reduce import duties and custom on raw material.” New rates under GST are 5 per cent, 12 per cent and 18 per cent on textile-related products, which earlier attracted no duties.  

Kant also urged the ministers to come up with new GST rates for fibres to support the sector as it is one of the largest providers of employment.The ministers, however, said there are legacy issues with the textile ministry.“We are working on solving all the issues prevailing in the industry,” said Irani, adding that the ministry would work on every plight of the sector.Prabhu said the government was working on finding new markets for the domestically produced cotton.

Source : New Indian Express

Hyderabad: The government has fixed December 27 as the deadline for businesses and traders to rectify their wrongful claims of input tax credit under the GST regime or face action.

Karl Mayer, the leading warp knitting machinery manufacturer and a market leader and driving force for innovations in textile machinery building with focus on digitalization as an important success factor has founded a new company called Karl Mayer Digital Factory GmbH, with registered office in Frankfurt/Main.