Textile sector representatives has urged the government to reduce high cost of doing business, clearance of refunds, extension of long term finance facility for garment plants, reduction in minimum turnover tax and exemption of five exporting sectors from further tax. In a Joint press conference, the chairmen and office bearers of all textile industry associations pointed out that an immediate reduction in electricity tariff to Rs7/kWh without levy of surcharges and across the board supply of

The garment accessories sector is an emerging industry contributing much to the RMG export earnings, but it does not enjoy cash incentives against export The manufacturers of garment accessories demanded the same 15% corporate tax as RMG makers in the budget for Fiscal Year 2017-18. Mohammad Moazzem Hossain Moti, acting president of Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA), made the demand in his budget reaction on Sunday. Since t

'The global buyers prefer some accessories from multinational companies on the grounds of quality, which Bangladesh has already' The garment accessories sub-sector is taking on more importance for Bangladesh with the start of direct exports to global brands, and could see a three-fold increase in export revenues in the next eight years. According to data from the Bangladesh Garment Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA), the accessory sector earned $6

Apparel up to Rs 1,000, biscuits and footwear will get cheaper, while gold will get slightly costlier from next month as the Centre and states, excepting West Bengal, resolve to roll out GST from July 1. The GST Council, chaired by Finance Minister Arun Jaitley and comprising state counterparts, decided to tax packaged and branded food items at 5 per cent, tendu leaves at 18 per cent and bidi at the highest rate of 28 per cent. Unlike cigarettes, there will be no cess on bidi. While bis

Textile industry exppressed satisfaction with the proposed goods and services tax (GST) regime as it hails the dawn of fibre-neutrality in the sector. Both fibres have been exempted from the porposed tax structure, while keeping the value chain within the purview of GST. Garments makers and even denim companies are mostly relieved as they see no drastic change in prices following GST. Synthetic fabric makers, however, feel the pinch in the wake of a higher input tax being levied on them. E

Trading was slow on the cotton market on Friday amid lack of interest from buyers. The Karachi Cotton Association kept its spot rate unchanged. Brokers said that spinning-mill owners were not taking interest in buying as they were waiting for the arrival of new crop. The arrival of new crop in Sindh has started and the first ginning factory will start working from June 5. Cotton growers were also facing hardship to irrigate their crop due to the shortage of canal water for irrigation an

With prices down and weather patterns unpredictable, America's cotton farmers are facing tough times. But a new research by at the University of Texas at Austin may offer a break for the industry. The research takes the first step toward a new way of breeding heartier, more productive cotton through a process called epigenetic modification. The research has been carried out by a team of scientists led by Z Jeffrey Chen, D J Sibley Centennial Professor of plant molecular genetics in the depar

The 18th edition of YiwuTex to be held soon in China with the aim to help garment manufacturers to enhance productivity and save cost, the “Functional Knitting Machinery Zone” will gather top-notch knitting and hosiery enterprises, including Zhejiang Yexiao (knitting machinery product development and manufacturing enterprise) and Hefei Opek (fully computerized jacquard hat & scarf knitting machine manufacturer) etc., who will be presenting their novel technology and intelligent production eq

IKEA has launched its first UK-based textile take-back pilot scheme, which will give customers in Cardiff the opportunity to bring in any unwanted textiles purchased from any store – from clothing to soft furnishings – to be reused, repaired or recycled. There will also be workshops in store showing customers how they can breathe new life into old textiles, or turn them into something new. In partnership with charity YMCA, customers will be able to bring anything from old clothing to soft fur

The All India Recycled Fibre & Yarn Manufacturers Association, which represents 35 recycled polyester staple fibre (PSF) producers in India, has requested the Union Finance Ministry to maintain the current excise duty cost advantage of recycled PSF vis-à-vis virgin PSF, while finalising the GST rates. In the current tax regime, virgin PSF manufacturers are levied 12.5 per cent excise duty, while recycled PSF attracts 2 per cent concessional excise duty, due to which spinners get the cost