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Textile industry News
Indian textiles and garments industry would soon get its own country-specific apparel size: Smriti Irani
Sun, Jan 20, 2019
Irani said the central government, led by Prime Minister Narendra Modi, has alloted over Rs 1,800 crore in the last 4.5 years to Gujarat for upgradation of technology in the textile sector.
5% GST on textiles will generate Rs 11,000 crore revenues, industry experts say
Sun, Jun 04, 2017
With cotton textiles attracting a 5% GST rate and man-made yard at 18%, the textile industry have expressed content over the rates prior to GST rollout. Industry experts have said that this would lead to a revenue generation of Rs 11,000 crore.
Will Trans-Pacific Partnership harm India's textile exports?
Tue, Oct 18, 2016
Care Ratings said, “Indian apparel exports are partially protected from the adherence to the “Yarn forward” rule i.e. the yarn used in manufacturing textile and apparel goods must be spun or extruded in one of the TPP participating countries for the final goods to qualify for benefits.”
Wal-Mart to stop selling Egyptian cotton sheets made by Welspun India
Sat, Sep 10, 2016
Wal-Mart said it will not cut ties with Welspun but will work with them to implement strong controls and better label the products.
Target Corp shock: Welspun India trades at 13-month low
Wed, Aug 24, 2016
Welspun India's share took a beatin after Minneapolis-based Target Corp, one of Welspun India's largest customers, cut ties with the company, accusing it of using lower quality cotton for making bedsheets between August 2014 and July 2016.
Welspun India shares continue to fall by 20% after Target Corp cuts ties
Tue, Aug 23, 2016
Nearly, 44,34,130 shares were sold from the investors.