Home / Knowledge / News / Textiles / South leads in number of new textile mills set up in last 4 years
South leads in number of new textile mills set up in last 4 years
17
Dec '08
Rising cost of input, stiff competitive global market and higher borrowing cost are the major threats faced by the textile industry. Government have been taking continuing measures to promote textile industry and export segment.

Among the major steps Government has of late made the following changes: -
* General reduction of 4% in CENVAT rates. As a result, the textile machinery will have CENVAT of 10% and Non-cotton textile will have 4% CENVAT vide Notification No.58/2008-CE dtd. 07.12.2008

* Rate of duty on cotton textile and the textile articles has been reduced from 4% to Nil vide Notification No. 58/2008-CE dtd. 07.12.2008

* NAPHTA imported for generation of electric energy has been exempted from import duty vide Notification No. 128/2008-Cus dtd. 07.12.2008.

* The benefit of Service Tax refund is now extended to service provided by a clearing & forwarding agent to exporters vide Notification No. 33/2008-ST dtd. 07.12.2008.

* The Threshold limit of refund of service tax paid by exporters on foreign commission agent service has been enhanced from 2% of FOB value to 10% of FOB value of exports vide Notification No. 33/2008-ST dtd. 07.12.2008.

* Draw back benefit can now be availed of simultaneously with refund of service tax pad in respect of exports.

* Pre and post – shipment export credit for certain specific sectors including textiles is being made more attractive by providing an interest subvention of 2% upto 31/03/2009 subject to minimum rate of interest 7% per annum.

* An additional allocation of Rs. 1400 crore will be made to clear the entire backlog in TUF Scheme.

* All items of handicrafts will be included under 'Vishesh Krishi & Gram Udyog Yojana.

* To boost collateral free lending, the current guarantee cover under Credit Guarantee Scheme for Micro and Small enterprises on loans will be extended from Rs.50 lakh to Rs.1 crore with guarantee cover of 50 percent.

As per the reports received from Regional office of the Textile Commissioner, Coimbatore no shifting of textile mills from other parts of the country is reported.

As per record of this office during the period 2004-05 to December 2008 (upto 15th December 2008), new 365 textile mills from the southern region i.e., Andhra Pradesh, Karnataka, Kerala, Tamil Nadu and Pondicherry were enlisted as against this only 23 textile mills from the Northern Region, i.e., Delhi, Haryana, Rajasthan, Uttar Pradesh and Uttaranchal were enlisted during the corresponding period.

For more details click here.

Press Information Bureau


Must ReadView All

ITC, ICS tie up to help Moroccan textile value chain

Textiles | On 21st Apr 2018

ITC, ICS tie up to help Moroccan textile value chain

The International Trade Centre (ITC) has partnered with ICS, which...

Bangladesh garment manufacturers call for fair pricing

Apparel/Garments | On 21st Apr 2018

Bangladesh garment manufacturers call for fair pricing

Bangladesh garment manufacturers want a ‘commensurate adjustment’ by...

CB&I bags ethylene technology contract from Lianyungang

Textiles | On 21st Apr 2018

CB&I bags ethylene technology contract from Lianyungang

CB&I, a leading provider of technology and infrastructure for the...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Johan Berlin
InvestKonsult Sweden AB

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

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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

Leave your Comments


April 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
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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