Category: Domestic

Suditi Industries partners with Anushka Sharma to launch fashion line

Suditi Industries (BSE listing) recently announced a joint venture with renowned film personality Anushka Sharma to launch a western fashion wear brand for women. Speaking about the association, Pawan Agarwal, Chairman & Managing Director, Suditi Industries Ltd said, “We understand our audience, their aspirations and their style language. This, combined with Anushka’s evident popularity and entrepreneurial spirit makes her the perfect partner for our foray into the women’s wear line. We believe this is a natural progression to our existing product lines i.e. Riot and IndianInk. We truly believe that Anushka’s classic style philosophy is the embodiment of our...

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GST rate revision gets mixed response from industry

The synthetic textile industry is divided in its reactions to the latest revision in the goods and services tax (GST) rates announced by the country’s Finance Minister, Arun Jaitley recently. The GST Council announced a reduction in tax rates on man-made yarn from 18 per cent to 12 per cent, while slashing GST levy on job work of zari (embroidery) to 5 per cent, from the previously agreed upon rate of 12 per cent. The GST Council also announced a slew of other measures related to the new tax regime that has completed two months now. Further, small and...

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FIEO welcomes procedural simplification of exports under GST Regime

Welcoming the decision to dispense with Bank Guarantee requirement under Bond and replacing it with Legal Undertaking (LUT), Ganesh Kumar Gupta, President, FIEO said that this is much needed simplification which will help in reducing transaction time and cost of exporters. FIEO Chief said that micro and small exporters will be immensely benefitted as they were struggling to get bank guarantee unless furnish collateral to the bank which affects their liquidity and thus flow of working capital impacting production. FIEO said that we should gradually move towards e-LUT (Electronic Legal Undertaking) which can be furnished online so as to...

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Textile industry plea to govt. on duty drawback rate

The textile industry has urged the government to reconsider the decision to reduce the duty drawback rate saying it would badly affect the garment sector in neighbouring hosiery town of Tirupur. Tirupur Exporters Association president Raja M Shanmugham said the reduction in drawback rate to knitwear export sector from 7.6 to two per cent would adversely affect the Tirupur export garment sector. It has come as a rude shock to exporters, who are already facing severe competition in the global market, he said and appealed to the government to have a re-look at the issue If buyers look to...

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India’s first online embroidery design market

The Textile Design Exchange (TEDEEX), is an innovative and country’s first online platform to showcase & discover embroidery designs. At this exclusive embroidery market, countless creative designers upload their designs at one place to broadcast it worldwide. TEDEEX offers premium quality designs with perfect punching, matching & measurement, which could be downloaded instantly, saving customers’ time that too at reasonable cost and could be used for all types of embroidery machines. According to the company, on an average more than 500 customers are buying designs via TEDEEX every month. All designs available have different prices ranging from Rs. 100...

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