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, Saturday, March 09, 2019: CITI welcomes the new Textile Policy 2019 announced by the Government of Tamil Nadu. Thiru. Edapaddi Palanisamy, Hon’ble Chief Minister of Tamilnadu announced a comprehensive Textile Policy 2019 for the Tamil Nadu Textiles and Clothing Industry. The policy gives a slew of incentives for the new investments and also for…
New Delhi, Friday, 08 March 2019: Chairman CITI, Shri Sanjay Kumar Jain welcomes the Government’s decision to reduce the Hank Yarn Obligation (HYO) from 40% to 30% of the total weaving yarn produced for domestic consumption. This step would remove the anomaly of excessive obligation of hank yarn and save the ailing spinning industry from the extra burden….
New Delhi, 7 March 2019: Chairman CITI, Shri Sanjay Kumar Jain welcomed the Cabinet decision approving the Scheme to Rebate State and Central Embedded Taxes to Support the Textile Sector. CITI Chairman thanked the Union Cabinet chaired by Hon’ble Prime Minister, Shri Narendra Modi for approving the scheme as it will enable the Government to take…
