Home / Knowledge / News / Textiles / Textile body chief derides surge in RMG imports
Textile body chief derides surge in RMG imports
15
Apr '09
Despite, the Turkish Lira appreciating against the US dollar, leading to a plunge in overall imports of the country in the first two months of the year by as much as 45 percent, clothing imports have fallen by only seven percent, leading to concerns in the sector.

Addressing the media, the President of the Istanbul Textile and Apparel Exporters' Associations (ITKIB) President Hikmet Tanriverdi said that, “The exchange rate should not fall below TL 1.50, which could lead to a deluge in imports from the sector”.

Quoting from statistics, he said, “During the period when the economy was battered by the turmoil, imports of clothing like pullovers/sweaters and woven men's shirts increased by 33 percent and 73 percent, respectively and in the same period imports from Bangladesh rose by an unprecedented 79 percent”.

He added, “Between May 2008 and January 2009, 50,827 enterprises stopped operations across all sectors, out of which 7,506 apparel manufacturing closed down, leaving 158,088 unemployed, 18 percent of the overall employment in the sector”.

Putting across a valid point he said, “If the Social Security Institution (SGK) premiums and income tax rates had been lowered, the state would have made a profit of up to TL110 million, considering that cost of 160,000 people eligible for the unemployment fund for a period of six months is TL 253 million”

He added by saying, “The SGK insurance premium loss is TL 541 million. The total loss is TL795 million. If the SGK premium and income tax rates were lowered, the total loss would be TL686 million. But after the discount, the state would have obtained a profit of up to TL 110 million”.

Speaking on demands of the sector, he said, “SGK insurance premiums and income tax rates should be lowered by 50 percent until the end of 2009, loan guarantee fund should be established as soon as possible, value-added tax (KDV/VAT) should be lowered and 50 percent of export insurance premiums should be paid by the state”.

Speaking of further demands he said, “The design, product development, template or model preparation and other innovative activities of the sector should be made part of the research and development (R&D) law, companies should benefit from R&D incentives for every five employees out of 100 they employ”.

Fibre2fashion News Desk - India


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...

Pak ministry proposes extension to PM package for 2018-19

Textiles | On 21st Apr 2018

Pak ministry proposes extension to PM package for 2018-19

Pakistani textile ministry has reportedly proposed extending the...

Interviews View All

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Riddhi Jain

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

Harsh Shah

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

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Yash P. Kotak
Bombay Hemp Company

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

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