How Simple Is It to Buy and Sell Goods from TextileStock.In!

For those who are unaware of what exactly TextileStock.in is, it is an online inventory of textile stock in India that is ready to be sold. This portal works on the simple principle of availing all the requisite information regarding a stocklot on sale so that the buyer can make an informed choice, and the seller can get a fair price for the material. And all of this with a few simple clicks of the mouse.

Make in India Week - New Textile Policy Likely to be Out by April

As per Mr. Santosh Gangwar, the Union Textiles Minister, it is highly likely that the government may introduce a new textile policy in April. This policy will plausibly target the growth of the industry for the coming 10 years and will look forward to achieving a whopping target of over $300 billion in textile exports and lead to the creation of over 35 million employment opportunities, thus strengthening the industry even further. Mr.Gangwar, present at the Make in India Week, quoted “The long-awaited National Textile Policy is nearing finalisation and is likely to be issued before the end of April 2016”. He said that talks and consultations with the stakeholders are going on and was quite confident about the policy to be released in the budget session. According to him, the policy will embrace all concerns pertaining to various aspects including labour reforms, investments in the sector, and provision of a road map for further developments in the same. The policy is also slated to look into the concerns raised by the skilled workforce of the industry.

Around Two-Fifths of the Readymade Garment Industry to Face 2% Excise Levy

The financial year 2016-17 is knocking, and Finance Minister, Mr.Arun Jaitley has announced the budget. The budget hold quite a few changes for the textile industry on the whole, but the most glaring of them all is the proposal to levy excise duty of 2% on all readymade garments as well as made up textile articles, the retail price of which are Rs. 1000 and above.

What lies in the budget for the textile industry?

The budget for the financial year 2016-2017 is now out, and as expected it envelops various avenues for the textile industry as well. In the budget, Mr.Arun Jaitley, the finance Minister made numerous announcements, the most imperative of which was that the basic custom duty for raw materials that are used in technical textiles would be reduced to 2.5%. These raw materials would include fibres such as aramid flame retardant, para-aramid, nylon staple, nylon anti-static staple and modacrylic as well as yarns such as nylon 66 filament, flame retardant viscose rayon andpolyester anti-static filament. This is a welcome move, as it will ensure that the input cost for manufacturers of technical textiles is substantially reduced.

Delinking subsidy from bank loans a great boon for Indian textiles

Powerloom Machine

The Maharashtra Government, led by the Bhartiya Janata Party or the BJP has recently announced the provision of subsidy to owners of textile mills that wouldn’t be linked to bank loans. In what can be denoted a first-time move by the government, the textile industry on the whole would gain immense benefits. This has come to be of major relief to the large majority of Muslim powerloom owners, who had been demanding this delinking for a long time now. These Muslim powerloom owners, along with a large number of workers had always felt that the usury as well as the bank loans were against their religion, considering the fact that Islam does not allow the practise of taking or giving loans.

Union Minister Gangwar Up for Changes in Labour Laws

Mr  Santosh Kumar Gangwar, Union Minister, Textile Ministry is of the opinion, that the government is required to initiate changes in the existing policies, especially those pertaining to the labour laws in order for the Indian Textile industry to lead the world, and gaining the number one position, thus beating China.

The Impact Of Use Of Intellect On American Textile

The history of American textiles can be traced right from the development of spinning jenny by James Hargreaves, wherein eight hand spinners were conveniently replaced by one operation. It was then that Samuel Slater assembled all such processes, and set up the first textile mill in the United States, in the year 1793, and hence came to be known as the father of the Industrial Revolution of America.