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Textile sector may have uniform GST rate: Irani
29
Apr '17
The textile sector could have a uniform Goods and Services Tax (GST) rate and a meeting will soon be held to make a decision on the issue, said textiles minister Smriti Irani. She said that the GST rates would be neutral, while responding to requests of textile associations, who have asked for fixing the rate at 5 per cent during a meeting in Coimbatore.

Over 20 textile associations including Tiruppur Exporters' Association (TEA) and Southern India Mills' Association (SIMA) submitted a joint memorandum to Irani during her visit to textile clusters in Erode, Tiruppur and Coimbatore.

Irani also spoke about PowerTex India that has been launched to benefit the powerloom industry, while talking to the media after the Parliamentary Consultative Committee meeting on powerloom sector development.

She said that the PowerTex scheme will help make zero-defect products and stressed on the need to replace old powerlooms with new Rapier shuttle less looms. This will help weavers produce more goods and generate more revenue. The scheme will ensure financial assistance to economically weaker weavers to help them upgrade.

The scheme was simultaneously launched across 45 centres in India on April 1. (KD)

Fibre2Fashion News Desk – India


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