India's gain will be an additional business of $300 million to $400 million per month if 10-11% of Bangladesh's export is diverted to Indian hubs like Tiruppur.
The government is planning to set up 25 integrated textile parks with an aim to enhance the competitiveness of the textile industry.
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.
'The jury panel said that my collection should not be limited to a college fashion show; it had much more potential. They encouraged me to sign up for the annual National Designer Awards organised by the World Designing Forum.'
India and China would emerge winners in the post quota regime in the textile and garments sector, according to a study carried out by EXIM Bank.
Jaybharat Textiles & Real Estate, a textile company that forayed into real estate three years back, today has a market capitalisation higher than Grasim Industries or Tata Motors.
After Multi Fiber Arrangement is phased out, the textile industry of developing economies like India will have a reason to be optimistic about the long-term growth opportunity.
International Monetary Fund (IMF) Deputy Managing Director (MD) Gita Gopinath has condemned the "terrible and disturbing" incident of rape and murder of a trainee doctor in Kolkata. "Personally, it is terrible to have any event of this kind. It is disturbing," she told Business Standard in New Delhi.
The United Kingdom extracted USD 64.82 trillion from India over a century of colonialism between 1765 and 1900 and USD 33.8 trillion of this went to the richest 10 per cent -- enough money to carpet London in notes of 50 British pound almost four times over.
The textiles ministry is in favour of a reduction in textiles tariffs under ongoing World Trade Organisation negotiations on market access, but said overall reduction in the case of developing countries should be lower than developed countries.
India has overtaken China as exporter of textile to the US and Europe markets due to cap on Chinese textiles in those countries.
New GST rates are between 5-18% on sectoral products
The Group of Ministers (GoM) on goods and services tax (GST) rate rationalisation, which convened in Goa on Wednesday, reviewed the GST rates for over 100 items, including textiles, handloom goods, agricultural products, fertilisers, and educational materials. However, no consensus was reached on any of the items, with further discussions scheduled for next month in Delhi.
Akhil Jindal, President of Welspun Group and Rajendra Hinduja, Executive Director of Gokaldas Exports say that there has been significant improvement in cotton, home textiles, and the apparel segment.
With the new government taking charge in Britain, senior officials of India and the UK will hold the next round of talks this month for the proposed free trade agreement to resolve the pending issues and close the negotiations, an official said. The India-UK talks for the proposed free trade agreement (FTA) began in January 2022. The 14th round of talks stalled as the two nations stepped into their general election cycles.
China on Friday announced a voluntary but drastic hike on export tariffs on 74 categories of textile products to douse a raging dispute with the United States and the European Union
MFA is an agreement through which a particular country is restricted to export its textile products beyond a certain level to European and US markets.
Bombay Dyeing is betting on creating a range of unique, customised textile products, a route that is largely unexplored by the home textiles players although several industry reports and consumer behavior studies have talked about the potential for personalisation.
Currently, India imposes 30-45 per cent duty on textile products from Pakistan.
Textile exports are expected to reach $50 billion by 2014-15 on the back of new markets.
India's exports recorded a flat growth of 0.59 per cent to $31.99 billion in November, even as trade deficit widened to $23.89 billion during the month, according to the data released by the government on Thursday. Exports stood at $31.8 billion in November last year. Imports rose by 5.37 per cent to $55.88 billion in November as compared to $53.03 billion in the corresponding month a year ago, the data showed. During April-November 2022, exports rose by 11 per cent to $295.26 billion as against $265.77 billion in the same month last year.
The government targets textile exports of $ 30 billion in 2011-12, as demand is on the rise in the western markets, Textiles Secretary Rita Menon said on Thursday.
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.
While Nifty 50 reflects changes in 40 years, it also shows what is missing: Low-cost manufacturers at one end, and deep-value players at the other. Also missing are technology players, observes T N Ninan.
The industry has requested the Reserve Bank of India for restructuring of loans, the chairman said. According to estimates, the sector has a loan burden of about Rs 1 lakh crore (Rs 1 trillion).
The UPA government will work on creating one crore (10 million) new jobs in the textiles sector and attract an investment of Rs 1.55 lakh crore in the next five years, Textiles Minister Dayanidhi Maran said after taking charge.
Buoyed by the success of e-commerce players like Jabongand Myntra, textile companies like Arvind Ltd, TT Ltd and Creative Lifestyles, among others are exploring the online market through their own e-commerce platforms.
Here stood a man who embodied the legacy of whatever Brand Tata stood for, embellished it, and departed into the long night, leaving the brand legacy for others to further enrich, notes R Gopalakrishnan.
Making the best of the boom in the stock market, five leading textile companies are set to raise about Rs 1000 crore (Rs 10 billion) through IPOs.
The government on Wednesday said India's textiles industry, employing over 90 million people, is likely to triple and touch $220 billion by 2020.
