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, Tuesday, 29thMay 2019: Confederation of Indian Textile Industry (CITI) on behalf of the Textile & Clothing Industry joins the nation in congratulating National Democratic Alliance (NDA) for being voted to power convincingly. Shri Sanjay K. Jain, Chairman, CITI said, “Indian economy enters into a very important phase with the new NDA Government taking charge after…
Indian Textile Industry needs to gear up for reaping RCEP benefits – CITI New Delhi, Monday, 27th May 2019: Shri Sanjay K. Jain, Chairman, CITI stated that the Indian Textile Industry can play an important role in enhancing total merchandise trade among the RCEP member countries. However, for achieving this, Indian textile industry needs appropriate policy measures, which…
New Delhi, Friday, 17th May 2019: Shri Sanjay K Jain, Chairman, CITI stated that due to the ongoing trade war between the United States of America (USA) and China, the USA has hiked additional tariff to 25% on US$ 200 billion imports from China, applicable from 10th May 2019. He further stated that the additional tariff hike covers Textile Chapters: 50-60. Mr. Sanjay…
