News Tags

Related Keywords: forthcoming Union Budget, increase share in global textile trade, lowering of import duty on raw materials used in making finished products, Northern region based textile industry, rationalization of duty structure on man-made fibres, sectors competitiveness globally, sought enough provisioning, Technology Upgradation Fund

The Northern region based textile industry sought enough provisioning for technology upgradation fund, rationalization of duty structure on man-made fibres and lowering of import duty on raw materials used in making finished products in the forthcoming Union Budget.

At present, man-made fibres attract 12.5% excise duty. The industry pitched for rationalization of duty structure on man-made fibres to enhance the sector’s competitiveness globally and increase its share in the global textile trade.

Related Keywords: availing cenvat credit, centres move, Cotton textile export promotion council of India, double time limit, GST, impact overall cost, imported raw material, increase in service tax, Make in India campaign, measures for speedy refund, on input to one year, special additional duty, Technology Upgradation Fund, Texprocil, Textile Industry

The Cotton Textile Export Promotion Council of India (Texprocil) welcomes the Centre’s move to double the time limit for availing Cenvat credit on inputs to one year. It has also expected the increase in service tax by two percent to 14 percent to impact the overall cost.

However, RK Dalmia, Chairman, Texprocil said that the government should have announced measures for speedy refund of service tax on export-related services.

The special additional duty on various imported raw material and inputs was announced, but unfortunately no mention of textile items in it.

Related Keywords: custom clearance at ports, EU and Canada, Free trade agreement, international fairs, MAI, market promotional activities, MDA, TEA, Technology Upgradation Fund, textile exports, Tirupur Exporters Association, Tirupur exports

The Tirupur Exporters' Association (TEA) at an Exporters' Meet held at Tirupur, Panda made an appeal to take up the issue of 24 X 7 customs clearance at the ports, a proposal announced by the Finanace Minister Arun Jaitley in the budget, to expedite the movement of garments.

Union textile secretary, Sanjay Kumar Panda in response to the appeal made has assured the knitwear garment exporters to take up various issues either confronting them or pending for implementation with the concerned ministries and try to resolve them.

Related Keywords: annual conference, Indian textile sector, labour reform, Make in India brand, proposed new textile policy, Santosh Gangwar, Technology Upgradation Fund, Textile Ministry, Textile Park

Minister of State (Independent Charge) for Textiles Santosh Gangwar will discuss the provisions of the proposed New Textile Policy with States who will give their views on the proposals of a draft report on the New Textile Policy prepared by an expert committee which has already been circulated to them at the annual conference of State textiles ministers today.

Getting State Governments’ views on labour reforms is important as a number of important changes have been proposed in the textiles sector, said a Government official.