The Goods and Services Tax (GST) which is considered as the biggest economic reform in India, completed one year of implementation on 1st July 2018. I congratulate Hon’ble Prime Minister, Hon’ble Union Minister of Finance and all the concerned policy makers and tax administrators including GST Council for its successful implementation.GST is aimed to abolish multiple taxes, including Central taxes such as excise duty, services tax, countervailing duty and state taxes – including value added tax, octroi and purchase tax and unite the country under. ….
Confederation of Indian Textile Industry (CITI) being one of the leading industry chambers of the textile and clothing sector of India, represents the major leading regional & industry associations and 17 major corporate members, thus, covering the entire textile value chain from farm to garments & made-ups and the textile machinery industry. We directly and indirectly serve an industry that connects to millions of farmers, 100 million plus work force and 1.3 billion consumers. The cumulative annual turnover of CITI members is around USD 30 billion i.e. Rs.2 lakh crores plus. ….
Its’s heartening to know that India has become the world’s sixth-largest economy, pushing France into seventh place, according to the latest World Bank data for 2017. Global trade architecture is rapidly changing as major economies have put up protectionist barriers. Believe it or not, ‘trade war’ has become a common term this year. Indian government and the textile industry have already started feeling the heat of the situation as the United States continues to remain the largest market for its textiles and apparel. The dialogue of FTA with EU also seems ….
The Indian Cotton Mills’ Federation (ICMF) had been established in March 1958. In May 2005, it was broad based to represent the entire textile sector with the formation of Confederation of Indian Textile Industry (CITI), a Company registered under Section 25 of the Companies Act 1956. The Confederation is an apex industry chamber representing all the sub sectors of the textiles sector through its Member Associations, Associate Members and Corporate members.
New Delhi, Monday, February 18, 2019: Mr. Sanjay Jain, Chairman, CITI stated that globally the fibre consumption is dominated by manmade fibres having 70% share in total fibre consumption while natural fibres constitute only 30%. Contrary to the global trend, fibre consumption in India is skewed towards natural fibres, especially cotton. He said that the growth…
Indian Cotton Textiles Suffering Serious Disadvantages due to Tariff Issues in Major Markets New Delhi, Monday, February 11, 2019: Shri Sanjay Kumar Jain, Chairman CITI stated that India’s cotton yarn and fabric exports are struggling because of the duty disadvantage faced by the Indian exporters in major markets. As indicated in the table below, there has been continuous decline in…
New Delhi, Friday, February 01, 2019: Mr. Sanjay Jain, Chairman, CITI welcomes the Interim Budget 2019-20 announced by the Hon’ble Finance Minister, Mr. Piyush Goyal. The Chairman stated that the budget is expected to give major impetus to the textile and apparel consumption by increasing the purchasing power of middle class and farmers. Mr. Jain further stated…
