Category: Domestic

India mulls MoUs, exhibitions abroad to promote khadi

India is planning to sign agreements with various countries to promote khadi handloom and hold exhibitions abroad to showcase the indigenous fabric. It is also exploring signing of memoranda of understanding between Indian exporters and overseas importers, through the Khadi and Village Industries Commission (KVIC), to boost outward shipments. KVIC under the Ministry of micro, small & medium enterprises (MSME) is also having discussions with industry associations abroad to open franchisee outlets, where khadi products would be put on sale, according to a report. The Ministry is looking at using export promotion clusters to boost outward shipments of khadi...

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Dr. A. Sakthivel elected as the Vice Chairman of Apparel Export Promotion Council (AEPC)

Padma Shri Dr. A. Sakthivel has been unanimously elected as the Vice Chairman of Apparel Export Promotion Council (AEPC) for the period 2018-19. Dr. A. Sakthivel has previously been the Chairman of AEPC for three tenures in the year 1998, 2004 & 2012 and has also been a member of Executive Committee of AEPC for the last 35 years. During his earlier tenures, he had steered projects like the Knitwear Technology Mission, the Sector Skill Council for Apparel, a national Social Compliance Project for apparel sector and several other initiatives for holistic development of the sector. In his eminent...

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With export growth forecasted at 15 per cent, let credit cost not be a deterrent

Ganesh Gupta, President, FIEO while commenting on anticipated unchanged interest rates due to inflationary risks (MSP increase/commodity prices unwinding/fiscal slippage) stated that for the export credit, which was in the priority sector had shown a decline of -2.5 per cent in 2016-2017 and a YOY decline of -8.7 per cent in 2017 needs to be addressed as exports growth is forecasted at 15 per cent in the Union Budget and if that be the case then cost of funds should not act as a deterrent for export business. FIEO chief stated that RBI data indicates that cost of funds...

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India could be one-stop sourcing vacation spot for Asean’s textile wants

India has the potential to become a one-stop sourcing destination for brands and retailers from, said Textile Minister at an event on recently. Opportunities exist for textile manufacturers from the 10-nation bloc to invest in India and cater to the domestic market as well as exports, the Minister added. Irani, who was addressing a seminar on ‘India-Asean weaving textile relations‘, said India has strengths in production and exports of almost all kinds of and apparel including all handloom and handicraft products that demonstrate the unique skills of the country‘s weavers and artisans. “In the year 2016, India exported textiles...

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Boost for textiles exports with Rs.71.48-bn special package

“Textiles exports from India are likely to get a boost with the increase in the special package for the financial year 2018-19. Finance Minister Arun Jaitley in the Union Budget 2018-19 raised special package by 19 per cent to Rs. 71.48 bn for apparel sector to boost exports. In 2016, the government had announced a special package of Rs. 60 bn for the same purpose. Rahul Mehta, President of Clothing Manufacturers Association of India (CMAI) said that the increase in the outlay looks prima facie was positive but, it is yet to be seen how impactful the enhanced outlay...

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