The government is planning to set up 25 integrated textile parks with an aim to enhance the competitiveness of the textile industry.
The textile sector seeks cut in Excise duty on MMF to provide level playing field and hike in allocation under Technology Upgradation Fund Scheme
The tech community, which was getting ready to use the ChatGPT fever and raise unlimited capital for their businesses, is going to face tougher obstacles now, predicts Ajit Balakrishnan.
Former Kerala Chief Minister and veteran CPI(M) leader V S Achuthanandan, a key figure in Kerala's political history, died on Monday at the age of 101. He was a founding member of the CPI(M) and served as Chief Minister from 2006 to 2011.
The institute currently has a faculty exchange programme with some Turkish institutions.
Since September last year, when everyone realised that the global economic meltdown could not be wished away, industry groups have been dishing out data on job losses. Among these is the Confederation of Indian Textile Industry, which said a million jobs had been lost in the last financial year. Most textile companies expect the situation to improve by October this year.
A team of senior officials from India will again visit Washington this month to hold discussions with their US counterparts on the proposed bilateral trade agreement (BTA), government sources said on Thursday. To give impetus to the talks, India's chief negotiator Rajesh Agrawal, special secretary in the Department of Commerce, and Assistant US Trade Representative for South and Central Asia Brendan Lynch had last month held three-day talks in Washington.
Commerce and Industry Minister Piyush Goyal will lead a team of senior Indian officials to Washington starting May 16 for discussions with their US counterparts on the proposed bilateral trade agreement (BTA), an official said on Tuesday. Goyal is expected to hold meetings with US Trade Representative (USTR) Jamieson Greer and US Commerce Secretary Howard Lutnick during his visit.
The government on Thursday said textile industry, facing the challenges of the post quota regime, has shown encouraging signals clocking 14.8 per cent growth in the first three quarters of this fiscal, but easing of entry-exit norms would further ben
Exemption of excise and customs duty on liquid fuels, abolition of service charge, rescheduling of loans for all textiles and clothing units will reduce pressure on the industry and will help to improve liquidity.
Withdraw mandatory excise duty of 10 per cent on branded garments and made ups while continuing optional routes for all segments in the textile and clothing sector.
Over 60 companies are ready to launch IPOs in the coming months.
'aris can be boiling hot in July. The choice of viscose over cotton was deliberate. Cotton would have crushed badly. We used viscose because it is a wood pulp fibre and lets you breathe. It is cooler than silk. We had to consider breathability because the athletes would be on a barge, in the heat, for up to five hours.'
India's Textiles Minister Shankersinh Vaghela Thursday stressed the need for Asian countries to come together to enhance competitiveness and harness their advantages to withstand global competition.
Fitch Ratings has said fundamentals of the Indian textiles industry are changing and the sector seems to be on a comeback trail aided by government policies and buoyant exports in 2002-03.
The country's textile industry is concentrated in a few pockets of Gujarat and Maharashtra in the west and Tamil Nadu and Karnataka in the south.
India's Foreign Secretary Vikram Misri has underscored the importance of not equating the victims and perpetrators of terror attacks, highlighting the need for global unity in combating terrorism. Speaking at Raisina Tokyo 2025, Misri expressed appreciation for Japan's support following the recent terror attack in Pahalgam, India. He also cautioned against the trend of some Western countries hyphenating India and Pakistan in the context of their recent military confrontation. Misri further outlined India's economic aspirations and its commitment to becoming a factor of stability in a turbulent world.
The commerce ministry is working on different scenarios to assess the possible fallout of reciprocal tariffs to be imposed by the US administration on April 2 on its key trading partners including India, sources said. US President Donald Trump has said that April 2 will be 'Liberation Day' as he plans to announce tariffs or import duties to bring down America's trade deficit, and promote the country's manufacturing.
Extension of 2% interest subvention for textile sector will reduce the interest burden on the P&L of textile companies this fiscal.
Various industry bodies have sought immediate government intervention through the imposition of anti-dumping duties, claiming India has seen a surge in imports of Chinese goods over the past two weeks.
'Could the impending new crisis, vibe coding, similarly create not a disaster like what befell Indian handlooms during the Industrial Revolution but another opportunity like what the Y2K crisis created?' asks Ajit Balakrishnan.
Acknowledging that the rupee appreciation has created some problems for exporters, the government on Tuesday assured the textile industry of addressing all its legitimate concerns to generate more employment. "I am aware that the strengthening of the rupee has created some strains for our exporters," Prime Minister Manmohan Singh said at the golden jubilee celebrations of the Confederation of Indian Textile Industry.
Indian and US officials will begin deliberations on the proposed bilateral trade agreement in Washington from Wednesday with an aim to iron out issues and give an impetus to the negotiations.
In a move that could improve the weakening sentiment in the Indian textile industry, the government is set to sign a free trade agreement (FTA) with the European Union (EU) by the end of the current calendar year.
The Indian Textile Industry is currently one of the largest and most important industries in the Indian economy in terms of output, foreign exchange earnings and employment.
Despite the recent Western criticism on Bangladesh's labour standards, India has a long way to go before it overtakes the neighbour in global exports.
This comes in the background of claims by the Confederation of Indian Textile Industry, an industry body, that about 700,000 jobs have been cut in the last six months. The industry lobby group has also forecast a further loss of half a million jobs in the next five months.
The heightened global uncertainty due to the US "reciprocal tariffs" on India may cause near-term corrections and market turbulence, but the long-term outlook remains constructive, market experts said on Thursday. The US has announced 27 per cent reciprocal tariffs on India, citing high import duties imposed by New Delhi on American goods.
Since October, FPIs have offloaded Indian equities worth Rs 2.1 trillion.
An Indian official team is likely to visit Washington next week to iron out differences on certain issues before formally launching negotiations for the proposed India-US bilateral trade agreement (BTA), an official said. The visit, which comes within weeks of a high-level US team visiting India, indicates that the talks for the BTA are gaining momentum.
The weaker rupee will push the country's import bill due to higher payments for crude oil, coal, vegetable oil, gold, diamonds, electronics, machinery, plastics, and chemicals, economic think tank GTRI said on Friday. Citing an example, it said the depreciating domestic currency will increase India's gold import bill, especially as global gold prices have jumped 31.25 per cent, rising from $65,877 per kg in January 2024 to $86,464 per kg in January 2025.
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