The government on Wednesday retained tax at source of 1 per cent on export earnings from readymade garment sector for the next fiscal year 20217-2018 beginning Saturday. Corporate income tax for apparel manufacturers, however, was lowered to 12 per cent from 15 per cent set in the proposed budget placed at the national parliament on June 1. The rate of corporate tax for green factories was reduced to 10 per cent from the proposed 14 per cent. The Finance Bill-2017 was passed by the parli

Stakeholders from the textile industry in this state are in a three-day strike against the decision to impose the new goods and srvices tax (GST) at rates between five and 18 per cent on sectoral products. Members of the Tamil Nadu Power Loom Federation are in strike in Salem, Karur and Namakkal districts against GST and seeking to exempt the industry from the tax. Around 150,000 power loom units are participating. Owners say they pay tax for the yarn and again paying tax for the finished pro

Pakistan’s ailing textile sector needs immediate attention of the government, the Federation of Pakistan Chambers of Com­merce and Industry (FPCCI) said on Wednesday. The chairman of FPCCI’s regional committee on industries, Atif Ikram Sheikh, said in a statement that the textile sector was the largest urban employment provider and largest foreign exchange earner and therefore deserved resolution of the problems, which have affected its exports. Energy crisis, refund claims, input cost

India's garment exports clocked 15 percent growth at USD17 billion in FY17 now following improved market conditions in US and other markets, the garment exports are expected to register a 15-18 percent growth to touch USD 20 billion during the current fiscal. The US market, which consists of 30 percent market share is doing reasonably well and they are also looking at good exports potential to South America, European, Middle East and Japanese markets this year, said Clothing Manufacturers Ass

All Pakistan Textile Mills Association (APTMA) will host a convention on textile growth in the second week of July. The meeting will be jointly organised by the textile associations and industries of the country. The textile conference will focus on developing various programmes and policies for the growth of textile industry in Pakistan. Textile industry accounts for 60 per cent of Pakistan's total exports. It can be further improved with the development of efficient and competitive business

Sandals with socks are no longer a fashion faux pas worthy of a flogging. In fact, they are positively the way to go if Paris catwalks Thursday are any indication. The dorky look previously confined to superannuated boy scouts and embarrassing uncles appeared in three major menswear shows, with no less than Louis Vuitton giving them its imprimatur. Its British designer Kim Jones sent out nearly 20 models in his Hawaii-themed show in sandals and socks. Pigalle followed suit with Nike sandals w

The ministry of finance has imposed an anti-dumping duty on the needles used in sewing machines imported from China for a period of five years. An anti-dumping duty of Rs. 1,54,732 per lakh needles has been imposed by the department of revenue. This move follows the recommendations from the designated authority in the ministry of commerce. A petition was filed by ltek Beissel Ltd, a global brand of sewing machine needles, for sunset review investigation on the sewing machine needles imported

Applied DNA, provider of DNA-based supply chain security, anti-counterfeiting, and anti-theft technology, has received an order to tag 27.5 million pounds of cotton for the 2017/2018 ginning season, for three US cotton varietals. The three varietals are Pima, Delta and Acala, which fall under the PimaCott, HomeGrown LoneStar, and HomeGrown Acala programs. The company expects to ship SigNature T DNA to mark 27.5 million pounds of cotton before the end of June, 2017. James A. Hayward, presi

The department of commerce of the US has initiated investigations for fine denier polyester staple fibre (PSF) imported from Asian nations like India, China, South Korea, Taiwan and Vietnam. The anti-dumping and countervailing duty probe against the fibre has been launched in response to a petition filed by three US based PSF producers earlier this month. The petition alleged that producers from these Asian countries are dumping fine denier PSF in the US market at sizeable margins. China's du

Advancing technology in the textile and fibre sector is allowing the US textile industry to gain new ground after years of losing market share to overseas manufacturers, a report in the Chemical & Engineering News, the weekly newsmagazine of the American Chemical Society, says. US’ textile companies were crowded out of the market by low-cost overseas labour. American textile companies, long crowded out of the market by low-cost overseas labour, have developed new niches for hi-tech fibre