The government on Thursday said the new Textiles Policy 2020 being formulated by the Centre is aimed at developing in the country a competitive textile sector which is modern, sustainable and inclusive.
Chennai: Apparel and made-up exporters are facing a huge working capital crunch for the past few months, as refunds of over Rs 5,000 crore under the MEIS scheme have been blocked. This could continue to pull down apparel exports in the coming months as well.
Mumbai, Dec 20 () The rupee opened on a weak note and fell 12 paise to 71.15 against the US dollar in early trade on Friday amid rising crude oil prices and strengthening of the US dollar vis-a-vis other currencies overseas.
NEW DELHI: GST compensation payment of nine select states, including Gujarat, Maharashtra and Kerala, is expected to double to Rs 60,000-70,000 crore in 2019-20, according to a report.
Industry fears that the Goods and Services Tax (GST) Council’s decision to further restrict input tax credit (ITC) on invoices not uploaded in the relevant form would block the cash flow of businesses, says the latter, at a time when they’re struggling on finances due to economic slowdown.
In a major relief to textile units in Maharashtra, the state government has started disbursing power subsidy of up to Rs 3.77 per unit to powerlooms, spinning mills, and garment units in the state.