Uniqlo coming to India for garment business

Chairman of Japanese clothing major Uniqlo – Tadashi Yanai – calls on Modi, wants to source garments from India

Tadashi Yanai, president and CEO of Uniqlo’s parent company Fast Retailing Co., met Prime Minister Narendra Modi in New Delhi recently to talk about the group’s business interest and multi-billion investment plans in India. This is the first high-profile international meeting of any industrialist with Modi after he took charge as PM. Uniqlo plans to set up single-brand stores across India.

Mr. Tadashi Yanai, the Chairman of UNIQLO, a leading Japanese garment company, called on the Prime Minister, Shri Narendra Modi, on June 25. The company aims to source garments from India. Shri Modi welcomed Mr. Yanai’s interest in developing UNIQLO’s business in India, and highlighted the advantages that India enjoys in the garments sector, including availability of cotton, skilled manpower, robust infrastructure, a big domestic market and good ports for exports
Mr. Tadashi Yanai, the Chairman of UNIQLO, a leading Japanese garment company, called on the Prime Minister, Shri Narendra Modi, on June 25. The company aims to source garments from India.
Shri Modi welcomed Mr. Yanai’s interest in developing UNIQLO’s business in India, and highlighted the advantages that India enjoys in the garments sector, including availability of cotton, skilled manpower, robust infrastructure, a big domestic market and good ports for exports

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Tirupur Exporters Association (TEA) to go to elections on Aug 31

The association to see serious elections for first time across all 27 seats

The Tirupur Exporters Association (TEA), which represents the Rs 13,000-crore knitwear industry in Tirupur, will go to elections on August 31 for the first time to select all of its 27 leadership posts, including president.

Unlike its previous elections, this time, the association’s long serving president, A Sakthivel, is facing serious opposition for adding 195 new members into the association’s fold. Continue reading

South India hails Union Budget 2014-15

T Rajkumar SIMA Chairman
T Rajkumar
SIMA Chairman

Southern India Mills’ Association thanked the Government for extending the optional route Cenvat for textiles, which was one of the demands of industry, till GST was implemented, to have a level playing field. SIMA Chairman T Rajkumar in a statement said that the exempting cotton transport loading and unloading services from the purview of service tax, will give a considerable relief to the industry and cotton farmers, as the mills in the South sourced more than 70 per cent of their raw material from upcountry markets.

“We had sought continuation of optional route till GST is implemented to have a level playing field. The optional route has been in vogue from July 2004 and it has helped the industry achieve significant growth despite the recession in 2008-09 and 2010-11,” he said. He however appealed for reduction in the CST from 2 per cent to one per cent, as the Government had committed to phase out CST before implementing GST. Continue reading

Textile & Garment Manufacturers happy with the Budget 2014-15

Rahul Mehta President, CMAI
Rahul Mehta
President, CMAI

In a boost to the readymade garment sector, the Budget has announced duty-free entitlement for import of trimmings, embellishments and other specified items to five per cent of the value of their exports, from the current three per cent.

“This will help increase exports and is a good boost for the industry,” said Rahul Mehta, president of the Clothing Manufacturers Association of India. The government has fixed a $50-billion textile export target for the current year. Nearly 40 per cent of this is readymade garments. Continue reading

Budget fails to impress Surtis

Arun Jariwala, president of Federation of Indian Art Silk Weavng Industry (FIASWI)
Arun Jariwala, president of Federation of Indian Art Silk Weavng Industry (FIASWI)

Surtis termed it ‘ordinary’ as it has not addressed any of their long-pending demands

The Union budget evoked lukewarm response from the textile sector of Surat. According to businessmen and experts, there is nothing new in the budget (except some insignificant sops) and the finance ministry has ignored the long-pending demands.

“We welcome the announcement of developing mega cluster in Surat, but the finance minister has not been clear if the cluster will be for handloom sector or for the entire textile sector. In the budget, there is no allocation for the embroidery sector and the weaving units,” said Arun Jariwala, president of Federation of Indian Art Silk Weavng Industry (FIASWI) and a highly respected figure of the textile industry. Continue reading

Texprocil Welcomes Union Budget 2014-15

Shri Manikam Ramaswami, Chairman, Texprocil
Shri Manikam Ramaswami, Chairman, Texprocil

Texprocil View on the Union Budget July 2014 With Regards to Cotton Textiles

Shri Manikam Ramaswami, Chairman, Texprocil (The Cotton Textiles Export Promotion Council), welcomed the various announcements and stated the budget in general is a positive budget. There are several new ideas together with continuity. Focus on poverty reduction, agriculture etc will help the poor have more disposable income which is essential for the textile industry.

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