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Related Keywords: Arvind Limited, built on four planks, EU, focusing on multipronged strategy, Free trade agreement, growth, innovation, intends to become a strategic partner, labour law, multi-fibre, sustainability, Textile Industry, textile major, verticalisation, with its customers

Arvind Limited, textile major intends to become a strategic partner with its customers by focusing on a multipronged strategy for its growth. Their strategy will be built on four planks — sustainability, innovation, verticalisation and multi-fibre, company’s Chairman and Managing Director Sanjay Lalbhai said in an interview.

Related Keywords: as GST subsumes all taxes including protections, become five to six percent cheaper, Garment imports, Goods and Services Tax, locally made apparel, providing input credits, removal of the special additional duty, SAD, Textile Industry

Garment imports likely to become five to six percent cheaper than locally made apparel despite the goods and services tax providing input credits to the textile industry due to removal of the special additional duty (SAD), as GST subsumes all taxes including protections.

Apparel imports are subject to a countervailing duty (CVD) of six percent on cotton and 12.5 percent on polyester, which importers receive as a central value added tax credit. The CVD is optional at a flat two percent if the importer does not claim a set-off against input costs.

Related Keywords: cotton crop, cotton cultivation witnessed, crop growing area, crop season, eighteen percent rise, export purposes, fixed a target to cultivate the cotton crop, fulfill domestic requirements, over an area of three point eleven million hectares, Pakistan government, Textile Industry

The Pakistan government has fixed a target to cultivate the cotton crop over an area of 3.11 million hectares during the crop season 2017/18 to fulfill the domestic requirements of the commodity, as well as for export purposes, said Dr Khalid Abdullah, cotton commissioner in the ministry of textile industry on Wednesday.

During the current sowing season, Pakistan cotton cultivation witnessed 18 percent increase across the crop growing areas as compared to the sowing during the corresponding period of the last year.

Related Keywords: across the value chain, conference on GST, development and modernisation of power loom sector, expected to have uniform GST rate, lowest slab for the industry, Smriti Irani, textile industries associations, Textile Industry, textile policy is likely to be finalised shortly, Union Textile Minister, will be held soon to decide rate

Union Textile Minister Smriti Irani said that a conference on GST will be held soon to decide the rate, hinting that the textile industry is expected to have uniform GST rate, responding to pleas at a meeting of textile industries associations and stakeholders in Coimbatore, for fixing five per cent GST rate, the lowest slab for the industry.

The Minister urged the industry associations to give suggestions and views during meetings that will be held in different cities shortly. She also indicated that there might be a uniform rate across the value chain.

Related Keywords: cotton bales, country has produced more than ten million cotton bales, from last season, improvement in cotton production in Punjab, Pakistan current cotton output, Pakistan Cotton Ginners Association, second consecutive season, showing a slight increase, Textile Industry

Pakistan’s current cotton output of 10.727m bales showing a slight increase of 9.81 percent from last season’s 9.766m bales. This is for the second consecutive season, the country has produced more than 10 million cotton bales.

With lesser area coming under cotton cultivation, the crop size has been shrinking — from 15m bales recorded in cotton season 2013-14 to round 10m bales for the last two seasons.

The fortnightly (April 1-15) phutti (seed cotton) arrivals data of the Pakistan Cotton Ginners Association show improvement in cotton production in Punjab.

Related Keywords: export package, exporters against realisation of export proceeds, paying refunds of sales tax, release funds for disbursement of duty drawback, save industry from liquidity crisis, Textile Industry, urged Prime Minister Nawaz Sharif and Finance Minister Ishaq Dar

The textile industry has urged Prime Minister Nawaz Sharif and Finance Minister Ishaq Dar to release funds for disbursement of duty drawback to exporters against realisation of export proceeds, besides paying refunds of sales tax to the exporters against the already issued RPOs to save the industry from the liquidity crisis.

Related Keywords: automatic doffing, fiber processing machine, roving frame, spinning machineries, spinning mills, Technical Textiles, textile components, Textile Industry, textile machinery, textile machinery market of Italy, Textiles Manufacturing

Few machines in a modern spinning mill are as critical as the roving frame. Building a solid and reliable roving frame is not an easy task and yet again it is absolutely necessary for the spinner as this machine can feed, depending on the count being produced, thousands of spindles at the spinning frames.

Related Keywords: absence of immediate policy intervention, advocating bringing back the TMC in a revised format, after closure of the Technology Mission on Cotton, CICR, cotton, cultivation of cotton, focus on short duration varieties, lost its sheen, Production might slide below three hundred lakh bales, SIMA, Textile Industry, the golden fibre, TMC

Cotton, the golden fibre has lost its sheen after the closure of the Technology Mission on Cotton (TMC). Production might slide below 300 lakh bales in the absence of immediate policy intervention by the government, said M Senthilkumar, Chairman of the Southern India Mills’ Association (SIMA).

The association has drawn the attention of Union Textile Minister Smriti Irani to the present situation, besides advocating bringing back the TMC in a revised format. A few States have already started advising farmers to avoid cultivation of cotton due to uncertainty in production.

Related Keywords: already in disadvantageous position, another Rs four per kg, considerable impact on transport cost, hike in VAT, other states enjoy huge incentives, procure raw material from upcountry markets, sell yarn in those markets, spinning sector spends around Rs. six per kg, textile clusters, Textile Industry, textile industry in the Tamil Nadu state

The textile industry in the Tamil Nadu state that is already in a disadvantageous position as the spinning sector spends around Rs. 6 per kg to procure the raw material from upcountry markets, and another Rs. 4 per kg to sell the yarn in those markets, while other states enjoy huge incentives.

Related Keywords: BTMA, Dhaka international textile and garment machinery exhibition, difficult to remain competitive, four day mega expo, global market, government is going to establish a LNG terminal in Kutubdia Island, increase the production cost, manufacturing units, set to kick off, supply imported gas, Textile Industry, textile machinery

The four-day mega expo on textile machinery Dhaka International Textile and Garment Machinery Exhibition (DTG) 2017 is set to kick off at Bangabandhu International Conference Center (BICC) in the city on Thursday.

Bangladesh Textile Mills Association (BTMA) President Tapan Chowdhury addressing a press conference on the upcoming DTG -2017 in the city on Sunday said that the government is going to establish a LNG terminal in Kutubdia Island to supply imported gas to the industry people as the country fears of finishing its natural gas stock in near future.