The decision of the GST Council to raise exemption threshold and increase in Composition Scheme limit will help small and medium enterprises (SMEs) significantly, The Synthetic & Rayon Textiles Export Promotion Council (SRTEPC) has said. For hilly states and those in North East, the exemption threshold has been doubled to ₹20 lakh from the earlier ₹10 lakh. At its 32nd meeting, the GST Council has “taken encouraging decisions” by relaxing the tax exemption limit to ₹40 l

India’s Telangana state has allotted ₹500 crore for modernisation of power looms in the textile town of Sircilla to boost the textile industry and weavers in the region, state handlooms and textiles joint director Purnachandra Rao said inaugurating a four-day buyer-seller meet in Hyderabad organised by the state textile ministry recently. Hyderabad Cut Piece Cloth Merchants Association president Subhash Agarwal stressed the need for modernisation of state's textile industry in a big

The Gujarat state government has announced a support scheme spanning the entire textile value chain, with incentives like subsidy in interests and power tariff and assistance in technology upgradation, environmental compliance cost and for textile parks. The scheme will be implemented starting September 4 last year and continue till December 31, 2023. Named ‘Scheme for Assistance to Strengthen Specific Sectors in the Textile Value Chain’, it covers under weaving, knitting, dyeing, printing

The All Pakistan Textile Mills Association (APTMA) recently urged the government to settle more than Rs 100 billion in outstanding sales tax refunds that have resulted in a serious liquidity crunch for manufacturers and exporters. Chairman Ali Ahsan said current and deferred sales tax refunds are pending at various offices, mainly due to cross-matching of invoices. The Pakistan Hosiery Manufacturers and Exporters Association (PHMA) also echoed similar sentiments in a released statement. Ahsa

Courtesy: Messe Frankfurt TexprocessTexprocess 2019 will display latest technology for textile processing. The international trade fair presenting machinery and methods for the processing of textile and flexible materials will be held from May 14-17, 2019, at Messe Frankfurt, Germany. Visitors from the fashion and clothing industry, upholstered- furniture manufacturers will visit the show. With exhibitors currently from some 29 countries, Texprocess will be showing the whole range of textile

The number of UK retailers entering into Company Voluntary Arrangements (CVAs) has increased by 52 per cent, from 25 in 2017 as against to 38 in 2018, according to Deloitte’s latest insolvency figures. While, the number of retailers entering into administration in 2018 was registered at 125 as compared to 118 in 2017, a marginal increase of 6 per cent. "Notwithstanding the increase in overall retail insolvencies, we have seen a significant increase in large retail insolvencies and CVAs in the

Courtesy: CCL IndustriesCCL Industries Inc, a world leader in specialty label, security and packaging solutions for global corporations, government institutions, small businesses and consumers, has acquired Easy2Name Limited (E2N) for its Avery business. E2N, a direct-to-consumer online digital business, is a manufacturer of durable, personalised kids’ labels for the UK market. The sales of CCL in 2018 amounted to approximately $2.0 million, with an estimated adjusted EBITDA of $0.6 million.

Terming the new e-commerce rules in India ‘regressive’, the US-India Strategic Partnership Forum (USISPF) recently said the changes would harm consumers, create unpredictability and negatively affect the growth of online retail. The Confederation of All India Traders (CAIT), however, strongly criticised the USISPF for making ‘uncalled for’ statements on the issue. Asserting that it is not the government's business to micromanage businesses, USISPF alleged the amendments announced came out wi

The Ghana government's decision to zero-rate Value-Added Tax (VAT) on the supply of locally manufactured textiles for three years is a boost to the industry. Albeit the policy is likely to cost the government around GH¢40.1 million annually, the announcement is a respite to the people dealing in the textiles business, awaiting the tax exemption since long. Reducing the cost of production, the local textile industry will grow gradually, thus increasing employment opportunities in the country,

Courtesy: ATIRAAhmedabad Textile Industry’s Research Association (ATIRA) received ‘Special Recognition in Textile Sector’ award in the category – Technical Textiles. The award was given at an event held in Delhi on January 5, 2019. ATIRA director MN Subramanian received the award on behalf of the organisation from Union minister of textiles Smriti Irani. “ATIRA’s efforts in composites have resulted in innovations such as low cost toilets, jute composite, cotton composites, GFRP, KFRP, CFRP co