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Related Keywords: blockage of working capital, condition of no refund ITC, created a huge accumulation of nonrefundable ITC, entire downward value chain, fabric stage, fabrics slotted under 5 per GST slab, manmade fibres, powerloom sector, slotted under 18 percent GST rate, spinning and power loom sector, SRTEPC, Textile Industry, with weavers, yarns

The man-made fibres and yarns were slotted under 18 percent GST rate while the fabrics were slotted under 5 per GST slab with a condition of no refund ITC at fabric stage. This had created a huge accumulation of nonrefundable ITC with the weavers and blockage of working capital.

Related Keywords: demand further reduction of products, handloom textile items reduced from twenty one to eleven, PDEXCIL, Powerloom Development and Export Promotion Council, powerloom sector, require intricate skills, reserved for handloom textile item, saris with extra warp and extra weft designs, saris with solid coloured woven boarder, tie and dye saris

Power loom Development and Export Promotion Council (PDEXCIL), Chairman Duraisamy is of the view that the number of products reserved for handloom textile item has already been reduced from 21 items to 11. But for the products that require intricate skills, the restriction must be lifted for other items for which the handloom sector is unable to meet the demand.

The power loom sector in the region has voiced its demand for further reduction in the number of products reserved for handloom textile items.

Related Keywords: 12th plan period, allocate funds, capital subsidy, interest reimbursement, margin money subsidy, Modernization, powerloom sector, RR_TUFS, Textile Park

Under the Revised Restructured Technology Upgradation Fund Scheme (RR-TUFS) to be implemented during the 12th Plan period, government has decided to allocate funds worth Rs.11,952 crore to bring modernization in the powerloom sector.
 

Related Keywords: Andhra Pradesh handloom industry, handloom weaver, powerloom sector, texile industry, two mega handloom clusters

Andhra Pradesh is one of the important states for the handloom industry to set up two mega handloom clusters each at Mangalagiri and Chirala in the state of Andhra Pradesh with an investment of Rs.1 billion to promote handloom sector and thereby help improve the livelihood of 2,00, 310 handloom weavers in cooperative fold and 1,58,902 other weavers, who have been constantly facing many problems.