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Related Keywords: Cooptex, designer saris, e-commerce major, join hands with Flipkart, kurtis, larger customer base, linenware, new generation, online shopping firm, organic salwar, organic saris, readymade shirts, silk shirts and dhotis, soft silk saris, to sign MoU

Tamil Nadu Handloom Development Corporation, popularly known as Co-optex in a bid to take its finest products to a larger numbers of customers across the globe is all set to sign a Memorandum of Understanding with 8-year-old Flipkart, an e-commerce major.

T.N. Venkatesh, Managing Director, Co-optex, on Saturday after inaugurating the renovated ‘Gandhimathi Co-optex Showroom’ at Tirunelveli Junction said that they plan to sign the MoU with Flipkart on May 15 with the objective of taking their products to a larger customer base through this online shopping firm.

Related Keywords: Aditya Birla Nuvo, brand outlets, Jaya Shree Textile, linen, Linen club studio, linen fabric maker, readymade shirts, yarn and fabric busines

Aditya Birla Nuvo unit, Jaya Shree Textile a leading linen fabric maker has set a target to achieve Rs 1,000 crore revenue from its linen, yarn and fabric business in next two years. It also plans to expand the number of exclusive stores to 200 in next three years.

Aditya Birla Group Business Head - Domestic Textiles, Overseas Spinning & Acrylic Fibre Thomas Varghese said that they are aiming to have a revenue of Rs 1,000 crore in next two financial year. The company is also planning to now add stores across the region with a more balanced growth.

Related Keywords: duty on imported readymade wear, no tax on cloth, protect local tailoring industry, readymade shirts, shippped into Kerala in parts, textile and knitwear hub, VACB

Recently, the Vigilance and Anti-Corruption Bureau (VACB) probed why readymade shirts were shipped into Kerala in parts. There is a 10 percent duty on imported readymade wear, but no tax on cloth. The levy is to protect the local tailoring industry, which employs thousands of people.

It said that it stumbled on a racket that involved major corruption at the border check-posts.

In order to squeeze profits by evading tax, law breakers in the cloth retail sector regularly bribe check-post officials to “fraudulently assess” imported readymade wear as cloth on which there is no levy.