ITEM/S : REACTIVE DYES – SUNFRON BLUE C-R & SUNCION GOLDEN YELLOW P-2RN Continue reading
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.
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
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
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 $50-billion textile export target for the current year. Nearly 40 per cent of this is readymade garments. Continue reading
Surtis termed it ‘ordinary’ as it has not addressed any of their long-pending demands
The Union budget evoked lukewarm response from the textile sector of Surat. According to businessmen and experts, there is nothing new in the budget (except some insignificant sops) and the finance ministry has ignored the long-pending demands.
“We welcome the announcement of developing mega cluster in Surat, but the finance minister has not been clear if the cluster will be for handloom sector or for the entire textile sector. In the budget, there is no allocation for the embroidery sector and the weaving units,” said Arun Jariwala, president of Federation of Indian Art Silk Weavng Industry (FIASWI) and a highly respected figure of the textile industry. Continue reading
Texprocil View on the Union Budget July 2014 With Regards to Cotton Textiles
Shri Manikam Ramaswami, Chairman, Texprocil (The Cotton Textiles Export Promotion Council), welcomed the various announcements and stated the budget in general is a positive budget. There are several new ideas together with continuity. Focus on poverty reduction, agriculture etc will help the poor have more disposable income which is essential for the textile industry.
According to SRTEPC, total exports of Indian Synthetic and Rayon MMF textiles during 2013–14 were US$ 6027.53 Million against US$ 5249.30 Million during 2012–13 showing a growth of 14.83%.
Colorant Limited, a leading Ahmedabad based reactive dyes manufacturer and exporter received the GDMA Awards for the outstanding performance in Export Market as well as Domestic Market in the SME category for the year 2013-14.
The Award Function, organised by the Gujarat Dyestuff Manufacturer Association (GDMA) was held on 27th June, 2014 at Diamond Hall, Rajpath Club, in Ahmedabad. Continue reading