The Cotton Corporation of India (CCI) has procured about 40 lakh bales of cotton as part of its MSP procurement operations so far during the season, amounting to 25% of the crop arrivals in the market, top officials of the corporation said.
The central government is mulling to develop Surat as a textile machinery hub to provide state-of-the-art technology at affordable rates to the country’s largest textile cluster which where a large number of units are based.
City-based goods and services tax (GST) payees can now file their revision petitions against those decisions and orders of competent authorities which they couldn’t challenge with the Appellate Authority.
SIMA urges Union textile minister to intervene in cotton trading policies of CCI - 14th January 2020
The Southern India Mills’ Association (SIMA) has urged the Union textile minister Smriti Zubin Irani to intervene in the cotton trading policies of Cotton Corporation of India (CCI) and direct CCI to avoid holding the cotton and sell the cotton at market price on a regular basis to arrest price escalation.
Union Minister Nitin Gadkari on Sunday said the Centre is formulating a scheme to encourage "import substitute products" in the manufacturing sector in order to save foreign exchange.
India's textile and apparel exports are expected to touch $300 billion by 2024-25, resulting in a tripling of the country's market share globally from 5 per cent to 15 per cent, according Invest India, the national investment promotion and facilitation agency.