The Goods and Services Tax (GST) has completed two years and the Central and State tax departments have jointly celebrated the second anniversary on July 1 all over India.
Himachal Chief Minister Jai Ram Thakur said that exporters are playing a crucial role in improving the economic growth and their contribution could be decisive in taking the Indian economy to five trillions as has been envisaged by the Central Government.
The labor-intensive garment manufacturing industry, which employs roughly 250,000 people, has warned of massive layoffs, with immediate impact on the small firms, should the current TRABAHO Bill is passed into law, which could be the last blow to their already declining export performance.
Union Minister of Textiles Smriti Zubin Irani on Friday said that exports of apparel increased 2 percent in the last five years from 2014-15 to 2018-19.
Union Minister of Textiles Smriti Zubin Irani said that the government is implementing the Handloom Marketing Assistance (HMA) scheme for promotion of handloom products.
Investments in the industry to grow exports and substitute imports are a precondition for sustainable future economic growth.