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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: anti-dumping duty, CITI, costs of converting raw material, ICF, Make in India, Nirmala Sitharaman, raw material costs, reduction of excise duty, removal of import duty, revive textile industry, SIMI, SISPA, Texprocil

The Southern India Mills’ Association (SIMA), Confederation of Indian Textile Industry (CITI), Cotton Textiles Export Promotion Council (TEXPROCIL), Indian Cotton Federation (ICF), South India Spinners Association (SISPA) and other stake holders has submitted a joint memorandum to Nirmala Sitharaman, Minister of State (Independent Charge) for Commerce & Industry urging for a cut in duties to revive the industry.

Related Keywords: certification mandatory, CITI, DGFT, Directorate general of Foreign Trade, export of organic products, Organic Textiles, R K Dalmia, Texprocil, Textile Industry

The mandatory certification for export of organic products to finished textile products, including yarn, fabrics, made-ups and garments extended by the Directorate General of Foreign Trade DGFT on November 18 has been deferred.

This move came in after Texprocil had urged the commerce ministry to extend the December 18 deadline for mandatory certification to enable the sector to conform to the new procedure.

Industry has welcomed the move stating that organic textile exports would be possible now.

Related Keywords: business opportunity, Cotton materila, European market, exceptional rate of registration, exhibitors, Frankfurt Style Award, fully booked, international designers, Texprocil, textile and fashion industry, textile manufacturing countries, Texworld Paris 2015

Today Texworld has become more than a place where people meet to do business. The show looks to suffuse its visitors and exhibitors with the latest trends, to have them touch and feel the materials, for an ever-more-lively visit. The next Texworld trade fair that is set to take place at Paris is experiencing an exceptional rate of registration, with the space expected to be fully booked very soon.

Related Keywords: cotton yarn, export products, export promotion, global market, Indian apparel sector, Lycra, revised duty drawback rate, Texprocil, Textile exporters

The government has notified new duty drawback rates which will boost the overall perception of Indian apparel sector and raise competitiveness in the global market. A separate entry has been created to distinguish certain export products such as cotton yarn of less than 50 counts or 50 or more counts; core spun cotton yarn containing three per cent or more of lycra /spandex/elastane, cotton blankets and flame-retardant fabrics based on their increasing international demand.

Related Keywords: Aditya exports, Adnani exports ltd, Birla century, finest cotton products, Indian Cotton Textile Show, Indian textile and textile products, Texprocil, two day exhibition in Dubai, UAE textile market

UAE is an upcoming market for India in terms of textile and textile products with the aim of providing a platform for buyers and seller and creating a market base in the UAE and Gulf regions, a two-day exhibition was inaugurated in Dubai showcasing India's finest cotton products.

Some of the leading exhibitors at the show include Birla century, Adnani exports ltd and Aditya exports.

Related Keywords: AEPC, Canada and China, Europe, European Union, Focus Product Scheme, Indian textile industry, major importing countries, tariff barriers, Texprocil

The Indian textile industry is facing tariff barriers imposed by major importing countries such as from the European Union, Canada and China. While the competing countries such as Pakistan, Bangladesh, Cambodia and Vietnam have negligible duty. Hence to overcome these tariff barriers the Government has been urged to increase the export incentives under the Focus Product Scheme to seven percent from two percent.

Related Keywords: add USD 4-5 billion, china reducing export, Focus Product Scheme, global export share, home textile, huge scope, Indian Textile, Minister of State for Textile, S K Gangwar, Texprocil

Indian textile has a global exports share of just 3.5 percent that leaves huge scope for increasing it and the potential to export an additional USD 4-5 billion as China, which enjoys 35 per cent share, is slowly reducing its exports.

If the government eases tariff burden and raise overall concession under the Focus Product Scheme to 7 percent, the textile industry can easily add another USD 4-5 billion. The country's textile exports stood at USD 40 billion last year, stated Texprocil Chairman Manikam Ramaswami.

Related Keywords: African suppliers, CITI, cotton import, domestic market, high price, Indian mills, Shankar-6 variety, Texprocil, transport cost

Cotton import is likely to double at 1.5 million bales (a bale is 170 kg) in the current cotton year (October 2013-September 2014), as compared to 0.7 million bales the previous year, due to the higher prices in the domestic market than abroad, according to the Confederation of Indian Textile Industry (CITI).
 
The benchmark Shankar-6 variety is trading at Rs 11,642 a quintal, in comparison with the landed cost in southern ports at Rs 11,000 a quintal.
 

Related Keywords: duty reduction, fabric, higher incentive, home textile, Indian cotton price, international price, Texprocil, textile export, trade deficit, yarn export

The Cotton Textiles Export Promotion Council (Texprocil) has urged the ministry for higher incentives including 5 percent duty reduction for exports to China. This incentive will help to put another USD 7 billion worth of fabrics and home textiles into China and reduce the trade deficit of USD 32 billion with China.

India has a USD 32 billion trade deficit with China, in which USD 12 billion worth of imports are allowed to come into India either duty free or at concessional duties. India on the other hand has not acquired any reciprocal benefit.