A high-level Saudi Arabia delegation led by its Vice-Minister for Industry and Mineral Resources Khalil ibn Salamah met the Secretary, Union Ministry of Textiles, Neelam Shami Rao, in New Delhi on Tuesday to advance bilateral cooperation in the textile sector. India was the second-largest supplier ($517.5 million) to Saudi Arabia’s textile and apparel sector in […]
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The government should look at strengthening farm to factory practices in the cotton sector and adopt a multi-pronged strategy to build export-ready ecosystems and align cotton production with India’s $100 billion textile export target by 2030, according to a knowledge paper ‘Cotton 2040: Technology, Climate and Competitiveness’ released by the Confederation of Indian Textile Industry. […]
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MEG is one of the main raw materials for the production of polyester fibre and filament. | Photo Credit: PERIASAMY M The textile industry has appealed to the government to not levy anti-dumping duty on Mono Ethylene Glycol (MEG), which is one of the main raw materials used in the production of polyester fibre and […]
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The textile industry is expecting an announcement soon on a revised Production Linked Incentive (PLI) scheme for the sector, with focus on manmade fibre (MMF) textiles. Union Minister for Textiles Giriraj Singh recently posted on X, “From expanding opportunities to smoother implementation, the PLI Scheme is now more dynamic than ever. With new reforms, the […]
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Textile units that recycle PET and the manufacturers of polyester fibre will face inverted duty challenges with the revised GST rates as the entire textile industry is under 5% GST while the raw materials for the manmade fibre (MMF) sector – Purified Terephthalic Acid (PTA) and Mono Ethylene Glycol (MEG) and PET scrap – are […]
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Textile exporters who import certain varieties of polyester fibre or yarn that come under mandatory Quality Control Order (QCO) under Advance Authorisation scheme now have 18 months time to fulfil the export obligation. The Central government said on Thursday that the export obligation period against import of products that are subjected to mandatory QCO by […]
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Profitability of RMG exporters dependent on the U.S. could contract 300-500 basis points, says Crisil Ratings. | Photo Credit: SIVA SARAVANAN S Revenue growth of India’s readymade garment (RMG) industry is set almost to halve on-year this fiscal as the imposition of 50% tariffs by the U.S. comes into effect from August 27, according to […]
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The exporters have urged the government to reintroduce the interest subvention scheme. Indian exporters, mainly the micro, small and medium-scale enterprises, have 2% to 3% disadvantage because of the high interest rates in India compared to the competing countries. | Photo Credit: SIVA SARAVANAN S Exporters of textiles, garments, and engineering goods fear that the […]
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Two major sectors that have a dominant presence of Micro, Small and Medium-scale Enterprises (MSMEs) and are expected to gain immensely from the India-U.K. Free Trade Agreement are textiles and engineering. Elimination of tariffs on textiles and garments from the earlier average level of 12% will remove the duty disadvantage that the Indian exporters faced […]
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The textile industry is pitching for a fibre-neutral GST at 5% for the entire textile and apparel value chain. | Photo Credit: SAMUEL RAJKUMAR The textile industry is pitching for a fibre-neutral GST at 5% for the entire textile and apparel value chain. Currently, cotton-based textile sector has 5% GST, except for garments priced above […]
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