Home / Knowledge / News / Textiles / State Council unveils mammoth textile sector development plan
State Council unveils mammoth textile sector development plan
25
Apr '09
China's State Council released a detailed three year support plan for the further stable development and up-grade the structure of the textile and garment industry in the country. This plan has come on the back of a recent hike in tax rebate rates. The government has increased the tax rebates from 11 percent to 16 percent in recent months.

As per the contents of the plan, the annual production of textile companies with revenues of more than 5 million Yuan (US $732,000) is expected to grow by 10 percent each year, which could help these enterprises deliver a combined annual output of 1.2 trillion Yuan by 2011, against 812.6 billion Yuan in 2007.

During the period under preview textile and garment exports are also expected to grow by 8 percent to touch $240 billion by 2011.The plan would also help the sector remove obsolete capacity, reduce energy consumption and increase efficiency in the textile industry over this period.

The State Council has suggested reviewing and increasing the tax rebate rates once more after assessing the exports and domestic situation in the country.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 28th Apr 2017

Fix 5% GST rate for textile goods: Textile bodies

Uniform levy of 5 per cent Goods and Services Tax (GST) on all...

Textiles | On 28th Apr 2017

India lifts CVD imposed on Nepali Jute goods

The countervailing duty (CVD) that was imposed on Nepali jute...

Courtesy: Williamsburg Garment Company

Fashion | On 28th Apr 2017

'We have grown by staying small & maximising efforts'

The easiest way to go out of business is to be too big or expand too...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

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...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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



X