Home / Knowledge / News / Textiles / Aarvee Denims welcomes decision of tax abolition on PTY
Aarvee Denims welcomes decision of tax abolition on PTY
07
May '08
The entire textile industry is going through rough times due to rupee appreciation, lack of export orders and reduced profit margins. However, the denim manufacturers of Gujarat are taking a sigh of relief as the State Government is planning to abolish five percent entry tax on Polyester Textured Yarn (PTY).

As Gujarat contributes more than 50 percent in total denim fabric production of the nation, the authorities cannot afford to let the sector suffer.

In an exclusive interview with Fibre2fashion, Mr Ashish Shah, Managing Director, Aarvee Denim asserted, “We have strongly urged the Government to abolish tax on PTY which is used in manufacturing denim, as PTY of coarser count from 300 to 600 denier and stretched yarn made out of Lycra and Spandex is manufactured in other states.”

Mr Shah further stated, “The major suppliers of PTY and super specialty stretch yarn outside Gujarat are Reliance Industries, Konark Synthetics and Indo Rama Synthetics, of which the former two run their units from Silvassa. The input cost will reduce to some extent once the tax is abolished.


Must ReadView All

Indian textile & apparel exports fall 13% in Jan 2018

Textiles | On 17th Feb 2018

Indian textile & apparel exports fall 13% in Jan 2018

A decline of 13 per cent year-on-year has been observed in the...

Brazilian cotton prices move up in first fortnight

Textiles | On 17th Feb 2018

Brazilian cotton prices move up in first fortnight

Cotton prices rose in Brazil in the first fortnight of February, as...

Courtesy: OrganoClick

Textiles | On 17th Feb 2018

OrganoClick introduces OrganoTex for water repellency

OrganoClick has introduced OrganoTex, a textile impregnation product...

Interviews View All

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Yash P. Kotak
Bombay Hemp Company

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

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.0%
No
13.0%
Skip
17.0%

Total Votes: 100

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.0%
No
30.0%
Skip
7.0%

Total Votes: 100

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.0%
No
9.0%
Skip
3.0%

Total Votes: 100

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.0%
No
8.0%
Skip
9.0%

Total Votes: 100


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search