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, Thursday, January 17, 2019: Mr. Sanjay Jain, Chairman, Confederation of Indian Textile Industry (CITI) thanked the Government of India for notifying 207 HSN Codes as Technical Textiles. It was a long standing demand by the industry and this step will give a major boost to the Technical Textiles Sector which is considered as the Sunrise Sector. Mr. Sanjay…
New Delhi, Friday, January 11, 2019: Mr. Sanjay Jain, Chairman, CITI welcomed the new Scheme launched by Gujarat Government for Assistance to Strengthen Specific Sectors in the Textile Value Chain. He thanked the Government of Gujarat for being prudent and excluding Ginning and Spinning Sectors as there is overcapacity and focusing on value added segments…
New Delhi, Tuesday, January 8, 2019: Mr. Sanjay Jain, Chairman, CITI pointed out that as per RBI Financial Stability Report – December 2018, the stressed advance ratio of the textile sub-sector has been improving continuously. From 23.70% in September 2017, the stressed advance ratio of the textile sector has come down to 18.70% in September 2018. Also,…
