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UP’s Budget Allots Slew Of Provisions For Textile Industry

Textile Insights February 7, 2024

The Uttar Pradesh government has allotted Rs 400 crore for the Atal Bihari Vajpayee Powerloom Vidyut Flat Rate Yojana to boost prospects of the state’s powerloom sector in its recently announced budget. A Textile Park of around 1,000 acres near Lucknow and being set up under the PM Mega

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Budget Extends RoSCTL Scheme For Apparel & Made-Up Exports

Textile Insights February 2, 2024

Finance Minister Nirmala Sitharaman in her interim budget has continued the Scheme for Rebate of State and Central Taxes and Levies (RoSCTL) for the export of apparels and made-ups until March 31, 2026. The RoSCTL, whose budgetary allocation has been increased by 10 percent, has proven to be instrumental in enhancing the competitiveness of Indian […]

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Key Takeaways Of Indian Interim Budget For Fiscal 2024-25

Textile Insights February 1, 2024

Today Finance Minister Nirmala Sitharman presented the interim union budget for fiscal 2024-25. The Finance Minster did not make any changes in direct and indirect taxes including import duties. Key takeaways of her speech include; Revised Estimates Fiscal 2023-24 Total receipts – Rs 27.56 lakh crore Tax receipts – Rs 23.24 lakh crore Total expenditure […]

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Textile Ministry May See Marginal Rise In Budget Allocation

Textile Insights January 29, 2024

The Indian Textile Ministry is likely to see a marginal increase of 2.5 percent in its budget allocation for fiscal 2024-25 over the Rs 4,389 crore allocated in the current fiscal. “This increase, though modest, aligns with the government’s commitment to establish India as a key global player in the textile industry. However, the limited […]

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Revision In Chinese Textile Dyeing & Printing Mill Regulations

Textile Insights January 4, 2024

China has revised the regulations which textile printing and dyeing companies will need to follow from January 2024. The first regulation is for machinery and equipment under which the new regulations specify using technologically advanced, green and low-carbon process machinery and equipment. It also suggests strict control of automatic dispensing and delivery system of

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2024 Will Be Turning Point For European Textiles & Clothing Sector

Textile Insights December 21, 2023

European citizens will vote for a new European Parliament in June 2024 and based on the results, a new European Commission will be formed. In view of this important election, EURATEX has published a Manifesto, presenting 15 requests which will help to ensure a competitive European textiles and clothing industry. According to EURATEX, the textile […]

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FTA With UK Alone May Not Lead To Big Surge In India’s T&A Exports

December 12, 2023

Even as India and the UK are close to concluding talks on a Free Trade Agreement (FTA), experts and observers in the textiles and apparel sector are of the view that the agreement may not fetch the desired results unless the industry gears up to manufacture right kind of product mix at competitive pricing. Currently, […]

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Saudi Arabia Unveils Anti-Dumping Probe On Coated Textiles

Textile Insights December 5, 2023

Saudi Arabia has launched an anti-dumping investigation targeting imports of coated textiles or fabrics from China and South Korea. The General Authority of Foreign Trade (GAFT) in Saudi Arabia has initiated the investigation in accordance with the Law of Trade Remedies in International Trade. According to a Saudi Arabian law, GAFT is responsible for trade […]

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Iran And China Sign An MoU To Strengthen Textile Industry Ties

December 3, 2023

Iran and China have signed a memorandum of understanding (MoU) in the fields of the textile industry and clothing. The MoU was formalized between the Chairman of the Board of Directors of the Iran Textile Industries Association and the head of the China International Textile Trade Promotion Council in Shanghai on the sidelines of the […]

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Indian Govt Moots Separate HSN Code For Recycled Textiles

Textile Insights December 1, 2023

The Indian Textiles Ministry has started a process to create separate tariff codes also called HSN codes, to keep a record of exports or imports of recycled textiles. Currently, these recycled textiles are exported or imported under the current and relevant HSN codes of textiles like yarns or fabrics, which makes it difficult to track […]