Ludhiana based knitters seek higher import duty on man-made fibres

News Tags: 000 units, having around 5, hub of knitwear industry in Punjab, knitters will be meeting Punjab Finance Minister Manpreet Singh Badal, lower import duty, Ludhiana, majority in the MSME sector, manufacturers seek higher import duty, MMF textiles, rising imports of man-made fibre textiles from China, take matter up in next GST Council meeting

Chandigarh
Ludhiana based knitters seek higher import duty on man-made fibres
Summary: 
Ludhiana is a hub of knitwear industry in Punjab, having around 5,000 units with a majority of them in the MSME sector, disturbed over the rising imports of man-made fibre textiles from China due to lower import duty, the knitters will be meeting Punjab Finance Minister Manpreet Singh Badal so that the matter could be taken up in next GST Council meeting.

Ludhiana is a hub of knitwear industry in Punjab, having around 5,000 units with a majority of them in the MSME sector, disturbed over the rising imports of man-made fibre textiles from China due to lower import duty, the knitters will be meeting Punjab Finance Minister Manpreet Singh Badal so that the matter could be taken up in next GST Council meeting.

http://www.tribuneindia.com/news/business/knitters-seek-hike-in-import-duty-on-man-made-fibres/486266.html
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Punjab spinning industry pushed in crisis due to difference in VAT rate

News Tags: demand level playing field, growing problem of influx of yarn, huge difference between VAT rates of Punjab and other states, increases cost of production, Ludhiana, reduce rates of VAT on yarn, selling price of outstation yarn less, Shiva Tex Fab, spindles closed down, Spinning mills of Punjab, Trident

Ludhiana
Punjab spinning industry pushed in crisis due to difference in VAT rate
Summary: 
Spinning mill owners of Ludhiana demand level playing field with their counterparts in other states as the spinning industry of Punjab is dying and already in huge debts, units are closing down owing to losses on account of lack of orders. Punjab government is held responsible for pushing them in a crisis by not reducing rates of value added tax (VAT) on yarn that they manufacture.

Spinning mill owners of Ludhiana demand level playing field with their counterparts in other states as the spinning industry of Punjab is dying and already in huge debts, units are closing down owing to losses on account of lack of orders. Punjab government is held responsible for pushing them in a crisis by not reducing rates of value added tax (VAT) on yarn that they manufacture.

http://timesofindia.indiatimes.com/city/chandigarh/Difference-in-VAT-killing-industry/articleshow/49878501.cms
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TN synthetic spinners exploring new markets and products

News Tags: decline in export orders, Delhi and Tirupur, drop in yarn prices, exploring new markets and products, Indian Texpreneurs Federation, Ludhiana, polyester or polyester cotton yarn makers, sample orders from buyers, stop production, study the customer demand, Tamil Nadu textile mills

Coimbatore
TN synthetic spinners exploring new markets and products
Summary: 
Tamil Nadu textile mills that make polyester or polyester cotton yarn having forced to stop production for two days a week for four weeks as prices for the yarn had dropped and the mills were find the price unviable and with export orders too declining have started exploring new markets and products, said Prabhu Dhamodharan, secretary of Indian Texpreneurs Federation.

Tamil Nadu textile mills that make polyester or polyester cotton yarn having forced to stop production for two days a week for four weeks as prices for the yarn had dropped and the mills were find the price unviable and with export orders too declining have started exploring new markets and products, said Prabhu Dhamodharan, secretary of Indian Texpreneurs Federation.

Further, some mills have taken sample orders from buyers in Ludhiana, Delhi and Tirupur. They plan to study the customer demand, explore new markets and products, he said.

http://www.thehindu.com/news/cities/Coimbatore/synthetic-spinners-explore-new-markets/article7653500.ece
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Govt’s decision to impose entry tax on yarn puts industry in a dire straits

News Tags: entry tax, Ludhiana, Punjab Government, textile and hosiery industry, Value Added Tax

Ludhiana
Govt’s decision to impose entry tax on yarn puts industry in a dire straits
Summary: 
The Punjab government has apparently decided to impose Non-Vatable Entry Tax on yarn being brought in from other states, including Uttar Pradesh, Himachal Pradesh and New Delhi. As there were repeated requests and memorandum coming from spinners in the state asking to either reduce VAT on yarn manufactured in the state or impose restrictions on import of yarn from other states.

The Punjab government has apparently decided to impose Non-Vatable Entry Tax on yarn being brought in from other states, including Uttar Pradesh, Himachal Pradesh and New Delhi. As there were repeated requests and memorandum coming from spinners in the state asking to either reduce VAT on yarn manufactured in the state or impose restrictions on import of yarn from other states.

http://www.hindustantimes.com/punjab/ludhiana/industry-in-a-fix-over-govt-s-plans-to-levy-entry-tax-on-yarn/article1-1305896.aspx
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