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The Southern India Mills' Association (SIMA) has welcomed GST era for the textile industry and highly appreciated the government and Union textile minister Smriti Irani for bringing a seamless tax structure for the entire cotton textile value chain at the lowest slab rate of 5 per cent GST rate. The year 2017-18 will be beneficial for the cotton industry.

The Erode Handloom Cloth Merchants Association has urged finance minister Arun Jaitley to withdraw 5 per cent Goods and Services Tax (GST) on textile goods. The association has said that the 5 per cent GST on textile goods would adversely affect the trade. Representatives of the association will meet Jaitley this week and reiterate their demand.

The Indian textiles industry is set to get a fillip with the Indian government pitching Textiles India as the next big thing to generate employment, ramp up manufacturing and boost exports. The scale in terms of participation at the just-concluded Textiles India 2017 at Gandhinagar in Gujarat was matched by the presence of senior functionaries of the government, leading one to conclude that Indian textiles would be the government’s trump card for Make in India.

Curve New York – 2017.

Javits Center, New York, United States Of America.

Fair Date : 6th Aug 2017 To 8th Aug 2017.

The Government of India as well as the governments of the Eurasian Economic Union (EAEU) member countries will shortly begin negotiations for a free trade agreement (FTA), a senior official has said. The 5-member EAEU comprises Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia. India’s annual trade with EAEU is currently at $8.4 billion.

The revolutionary taxation system, the Goods and Services Tax (GST), often described as ‘one nation, one tax’ has been rolled out across India from the midnight of June 30-July 1, 2017. Speaking in the Central Hall of the Parliament just before midnight, Prime Minister Narendra Modi termed GST as “good and simple tax” for the citizens of India.