India News

3/1/19

SIMA hails interim budget 2019-20

The Southern India Mills Association (SIMA) hailed interim budget and welcomed the announcement of Rs 6,000 per year for the farmers having below two hectares of land under Prathan Mandri Kisan Samman Nidhi Programme giving effect from 1st Dece...

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3/1/19

Measures to strengthen MSMEs

The Government has taken several measures to strengthen the Medium, Small and Micro Enterprises (MSMEs). While a Scheme of sanctioning loans upto Rs. 1 crore in 59 minutes has been launched, GST-Registered SME units will get 2% interest rebate ...

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3/1/19

Good budget for middle class & farmers but not for MSMEs: IIA

Benefits to middle class & farmers in the budget, while on the other hand it has completely ignored the MSME sector, said Sunil Vaish, President of Indian Industries Association (IIA).
He said “IIA being an apex body of Micro, Small an...

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3/1/19

Interim budget 2019: Highest allocation to MoMSME

Interim budget 2019 announced by Finance Minister Piyush Goyal has the highest ever budget allocation for MSME sector, said  Dr. Arun Kumar Panda, Secretary, Min...

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3/1/19

Budget to spur consumption, bodes well for capital market: Experts

The budget, presented by Finance Minister Piyush Goyal, is a well-rounded attempt of presenting something for everybody, they added.
Manish Gunwani, CIO Equity Investments at Reliance Mutual Fund said the budget -- the last before the genera...

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3/1/19

Surat textile industry on Budget 2019-20

The interim budget announced garnered a mixed response from the textile industry experts. While the one-time tax rebate for those with a taxable income of up to Rs 5 lakh annually and the businesses with annual turnover less than Rs 5 crore bei...

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3/1/19

Interim Budget will boost textile consumption: CITI

The Interim Budget 2019-20 presented by finance minister Piyush Goyal has given major impetus to the textile and apparel consumption by increasing the purchasing power of middle class and farmers, Confederation of Indian Textile Industry (CITI)...

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3/1/19

Interim Budget 2019-20 is a Progressive Budget: FICCI

Reacting to the Interim Budget 2019-20 presented in Parliament, Mr. Sandip Somany, President, FICCI said, “It is a progressive budget that addresses both the current challenges being faced by the economy as well as presents an outline of the ...

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3/1/19

Budget essential part of democracy, so are elections: Arun Jaitley

Union Minister Arun Jaitley, responding to the criticism levied by the Opposition against the interim budget presented on February 1, said while “budgets are an essential part of democracy, so are elections”.
“What did the UPA do in th...

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3/1/19

Textiles Ministry FY’20 allocation pruned to Rs 5,831.48 crore

Finance Minister Piyush Goyal has proposed Rs 5,831.48 crore budgetary allocation for the textile ministry for 2019-20, which is 16.01 percent lower than the current fiscal.
As per the budget document tabled in Parliament on February 3, the ...

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3/1/19

GST, led to increase in tax base, higher collections and ease of trade

The Goods and Services Tax (GST) reforms has resulted in increased tax base, higher collections and ease of trade. While presenting the Interim Budget 2019-20 in Parliament, the Union Minister for Finance, Corporate Affairs, Railways & Co...

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3/1/19

Income upto Rs 5 Lakh to get full tax rebate

Individual taxpayers having taxable annual income up to Rs.5 lakhs will get full tax rebate and therefore will not be required to pay any income tax. While presenting the Interim Budget 2019-20 in Parliament the Union Minister for Finance, Co...

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3/1/19

Excerpt of the Finance Minister Speech

Empowering MSMEs and Traders
1. Government has undertaken many effective steps to strengthen MSME sector, which provides employment to crores of people. Recently, a scheme of sanctioning loans upto1 crore in 59 minutes has been launched. GST...

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3/1/19

Union Budget 2019 highlights

The key highlights of the Interim Budget 2019-20 presented by the Union Minister for Finance, Corporate Affairs, Railways & Coal, Shri Piyush Goyal in Parliament are as follows:
New Announcements
♣ Farmers
• 12 crore small and ...

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BUDGET 2019 3/1/19

BUDGET 2019

Confederation of Indian Textile Industry (CITI) chairman Sanjay Jain said, “The Budget will increase purchasing power of the middle class, farmers and lower tiers of society and will drive textile and clothing consumption in a big way. It has...

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1/23/2019

GTTES 2019- Show case of Latest Technology

GTTES 2019 is ready to herald a new successful business year with new optimism, new opportunities&newprospects for the textile industry in its much anticipated 2nd Edition in Mumbai from 18th to 20th January 2019.
GTTES has grown in size...

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Textiles Minister Gives Away Handicrafts Export Awards 1/23/2019

Textiles Minister Gives Away Handicrafts Export Awards

Union Minister of Textiles presented awardsto handicrafts exportersfor their outstanding performance in exports for the year 2015-16 and 2016-17 at a function at India Expo Centre & Mart in Greater Noida, Delhi NCR on 18th December 2018. Mi...

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1/23/2019

Measures to Curb Imports of Textiles

India’s textile and apparel imports stood at USD 7,339 million in 2017-18 as compared to USD 6,293 million in 2016-17.
To curb imports and promote domestic manufacturing, Government carried out an import analysis of textile and apparel imp...

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1/23/2019

Ramdev opens Patanjali apparel store in Haridwar

Yoga guru Ramdev and Patanjali CEO Balkrishna inaugurated Uttarakhand’s first ‘PatanjaliParidhan’ store in Haridwar on the occasion of the 24th foundation day of Patanjali.The store, opened inside PatanjaliYogapeeth Phase 1, offers around...

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1/23/2019

Skill centre for apparel industry

A Centre of Excellence for Apparel, Made-Ups and Home Furnishing Sector Skill Council (AMHSSC) was inaugurated at Tirupur. The AMHSSC was formulated by the Ministry of Skill Development and Entrepreneurship and National Skill Development Counci...

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1/23/2019

Warangal brand Maangalya enters Hyderabad

Warangal-based apparel brand Maangalya Shopping Malls has made inroads into Hyderabad. The brand was started in 1945 by the current second generation owner Namashivaya’s father as a small cloth shop in Warangal. However, due to an untoward in...

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1/23/2019

Bengal Govt to setup CFC in the state

For uplifting of the garment industry to international levels, Dr Amit Mitra, Finance, Industry and MSME Minister has proposed setting up of a Common Facility Centre (CFC) in West Bengal.
He informed this while speaking at the 47th Garment B...

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1/23/2019

Arvind launches garmenting facility in Jharkhand

Textile firm Arvind Ltd announced the launch of its green-field garmenting facility in Ranchi, set up with an investment of Rs 300 crore.
This facility will add capacity of 16 million garments annually to the company’s current garmenting o...

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1/23/2019

Kashmir forced to undersell wool

Despite having considerable wool production, Kashmir exports 34 lakh kg of wool a year at throwaway prices due to lack of processing units. This resulted in losses of crores of rupees to the state economy as well as farmers. The Wool Board is a...

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1/23/2019

Tirupur garment exporters set up units beyond Indian shores to tap growth

Global festive season has brought a ray of hope to Tirupur, which recently witnessed one of its worst years. Demonetisation coupled with the implementation of Goods and Services Tax (GST) system halted growth at India’s largest knitwear and r...

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