Textiles News

In addition, he added that the government is implementing Rebate of State and Central Taxes and Levies (RoSCTL) scheme for Apparel/Garments and Made-ups in order to enhance competitiveness by adopting principle of zero rated exports. 

The traditional techniques have seamlessly transformed into modern-style outfits, maintaining a delicate balance of comfort and lightness. Rajasthan's textiles are not just fabrics; they are a story woven into every thread, a legacy cherished across borders and generations.

She said India's textile and apparel sector registered the highest ever growth of 40.55 per cent in its exports.

Singh said it depends on how good, efficient and integrated the Indian apparel industry is and how it increases its size and scale. He added that the country's textile exports can increase from the current USD 40 billion to USD 100 billion in the next five years.

The proposal is to increase the rate of tax from 5 per cent to 12 per cent on textiles and footwear. According to CAIT, there was no tax on textile or fabrics for a number of years. The letter also asked for an extension of income tax return filing date.

Government programmes and efforts will propel the textile sector to the growth of USD 300 billion by 2025-26. Buyers can see live product demos of the most cutting-edge machines and solutions provided by the sellers' network of industry leaders.

The Central government will offer incentives worth Rs 10,683 crore to firms The scheme is also aimed at attracting fresh investments in the textile sector. The Centre is aiming to attract investments to the tune of Rs 19,000 crore in the coming years.

The GST Council had last month fitted over 1,200 goods and 500 services in the four tax brackets of 5, 12, 18 and 28 percent. Beside, it had imposed cess over and above the peak rate of 28 percent on demerit and luxury goods.

The GST Council will on Saturday finalise taxes to be levied on six commodities, including gold, textiles and biscuits, as the Centre and states gear up to roll out the new indirect tax regime from July 1.

Craft revivalist and textile conservationist Madhu Jain, known for promoting indigenous forms of textile weaving and design in her almost 30 year-long career, says it's difficult to find good quality textiles in the Indian market nowadays. She also feels that unlike in the West, there is no quality control in India and this results into many problems.

FIEO Director General Ajay Sahai said that Rs 3,000 crore incentive would help Indian exporters at this challenging time.

Home textiles firm Welspun India, part of the USD 3 billion Welspun Group, Monday reported a 55.42 percent jump in its consolidated net profit at Rs 163.15 crore for the first quarter of 2015-16.

Swedish furniture retail major IKEA is mulling increasing sourcing of items from India and widening its supplier base in the country.

Textiles Minister Santosh Gangwar Thursday approved setting up of 13 textile parks, entailing minimum investment of Rs 100 crore each, a move that will help generate thousands of jobs.