Knit city of India "Tirupur"

Tirupur, a small town in the state of Tamil Nadu, started off as a market for raw cotton back in the day, has today become a strong base for the setting up of cotton ginning factories. In due course, the local economy of this South-Indian town gave way to hosiery cluster and is today known as the country’s biggest knitwear cluster accounting to a whopping 90% of the nation’s total knitwear exports.  Let us take a closer look at what is now known as the ‘Knit City of India’ and rightly so!

Importance of GST(Goods and Services Tax) For Textile Industry

The Goods and Services Tax or GST is a form of Value Added Tax which is predisposed to include all the indirect taxes and would be the same for every region of the country unlike the VAT. Simply put, the GST will allow the state government to get a share that was earlier entitled only to the centre in the form of Central Sales Tax.The Goods and Services Tax, if and when approved will benefit the textile industry in more than one ways, and hence it is only just to study the importance of GST in this context.

Tamil Nadu announces Schemes to boost textile Industry

It was only this month that the Tamil Nadu State Government announced various schemes to boost the state’s textile industry. In fact, the Chief Minister of the State, Ms Jayalalitha also waved a green flag for the setting up of a panel which is assumed to aid integrated development of this sector.