Author: Editorial Team

Industry cheers GST rate cut in job work

Garment manufacturers have welcomed the government’s decision to cut service tax (goods and services or GST levy) on the third-party services popularly known as job work.The GST Council decided to cut the tax rate on services rendered by third parties from 18 per cent to 5 per cent. Earlier, the GST Council had lowered the rates on the job work in the jewellery sector while keeping the rate unchanged at 18 per cent on readymade garments. “We welcome the decision. This is a major relief for the garments sector. The rate of 18 per cent was the biggest impediment for...

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Exports of textiles increase 3.2 per cent in three years

As per the data available with the government, the export of textiles and garments has shown an increase of 3.2 per cent during the last three years. Textiles worth Rs. 2,63,494 cr were exported in 2016-17 as compared to exports worth Rs. 2,59,712 cr in 2015-16 and Rs. 2,47,546 cr in 2014-15. With a view to enhance the investment, production and export of the textile industry in the country, Government has launched the special package for apparel and made-ups segments of Indian textile industry, which includes Enhanced Duty Drawback Coverage / Rebate of State Levies (ROSL) on Export of...

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Intertextile Shanghai Home Textiles to have multiple country pavilions

Intertextile Shanghai Home Textiles is the gateway to Asia’s home living market, ensuring suppliers from around the world are eager to take part to capture the huge business potential in the region. Among the over 1,200 exhibitors, seven country and region pavilions as well as four domestic regional pavilions are formed to maximise companies’ exposure to visitors. The international pavilions which include Belgium, India, Korea, Morocco, Pakistan, Taiwan and Turkey will be bringing their specialised products to the show, while domestic pavilions composed of Haining, Shaoxing, Tongxiang and Yuhang will present even more fabric options to buyers. The seven...

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Advent acquires major stake in innerwear firm Dixcy Textiles

Advent International, the leading US-based private equity investor, has acquired significant stake in Dixcy Textiles Pvt. Ltd, the South Indian firm which sells leading innerwear brand Dixcy Scott. Dixcy company’s Founder and Managing Director Prem Prakash Sikka will retain a stake in the company and continue as the Chairman following the completion of the transaction, said a company statement. Financial terms and other details were not disclosed. Private equity fund Advent International is in talks to buy a stake in underwear brand Dixcy Scott, and Avendus Capital Pvt. Ltd has been hired by Dixcy to find an investor. Dixcy...

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Lectra hosts fashion & apparel seminars and workshops in India

Lectra, one of the leading companies in world providing integrated technology solutions dedicated to industries using fabrics, leather, technical textiles and composite materials, recently organised two seminars and two workshops dedicated to “Design to Manufacture” in Bangalore, Tirupur and Gurgaon. Based on interactive sessions, the seminars and workshops were attended by professionals from leading apparel exporters and manufacturers, as well as fashion brands. The two seminars dedicated to apparel manufacturers focused on how to reduce product development cycle time by capitalizing on pattern library and dedicate more time to creative activities in CAD room and how to increase productivity...

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