Home / Knowledge / News / Textiles / GST in India led to 'temporary slowdown': ASSOCHAM-EY study
GST in India led to 'temporary slowdown': ASSOCHAM-EY study
Nov '17
GST in India led to
The Indian industry witnessed a temporary slowdown following implementation of the goods and services tax (GST) in July this year despite government efforts to mitigate the problems and improve business conduciveness, according to a recent joint study by the Associated Chambers of Commerce and Industry of India (ASSOCHAM) and technology consulting firm EY.

But still India will see sustainable growth in the near future, said the report titled, ‘Ideate, Innovate, Implement: Invest in India’.

GST will significantly affect all aspects of businesses, including supply chain, sourcing and distribution decisions, inventory costs and cash flows, pricing policy, accounting and transactions management, an ASSOCHAM press release said quoting the study.

The study urged the central and state governments to jointly work by executing investor-friendly policies to strengthen investment prospects and carrying out effective judicial reforms to do away with a complex legal framework that scares investors.

Factors like robust domestic consumption, investor-friendly strategies, skilled manpower, transparency in government procedures and responsive policy making, with an immediate focus on effective implementation of reforms will continue to position India as a preferred investment destination, the study added. (DS)

Fibre2Fashion News Desk – India

Must ReadView All

Digital textile printing sector to grow by 20% by 2020

Textiles | On 18th Jun 2018

Digital textile printing sector to grow by 20% by 2020

The digital textile printing sector is expected to have a compound...

Courtesy: Hela Clothing

Apparel/Garments | On 18th Jun 2018

Hela's latest label revolves around underwear, sleepwear

The latest collection of Sri Lanka’s Hela Clothing is revolves mostly ...

Kenya levies higher duties on mitumba import

Apparel/Garments | On 18th Jun 2018

Kenya levies higher duties on mitumba import

Kenya’s treasury secretary Henry Rotich recently raised the duty on...

Interviews View All

Rashi Menda

Every fifth sale we make on Zapyle is a repeat purchase

Textile & apparel industry

GST is a complicated and lengthy process

Kaizad Hansotia

Competition is the best thing that can happen to a startup

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Urmil Arya

Sushila International, a well established textile organisation established ...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Advanced Search