Repo Rate Cut Welcomed By Textile Industry

To begin with, Repo Rate is precisely the rate at which the Central Bank of the country lends money to all commercial banks during the event of shortage of funds.

In a recent financial move the RBI Governor, Dr. Raghuram Rajan announced a cutback on the current repo rate from 7.25 percent to 6.75 percent, which was brought into effect immediately on 29^th September, 2015. This repo rate deduction of 50 basis points has been more than welcomed by the textile industry of the country, simply for the reason that this cut will majorly benefit capital-intensive industries.

Reinventing Home Furnishing Textile through Recycling

As surprising as it may sound, the urban waste comprises of a substantial amount of textile wastes, which usually comes from the end-consumers. While there are certain commercial as well as charity organisations that come forward and take up some part of this waste, but the better part of it is still discarded. It is dues to the unending burden of this waste, that new possibilities are being tapped so as to make it commercially viable.

Knit city of India "Tirupur"

Tirupur, a small town in the state of Tamil Nadu, started off as a market for raw cotton back in the day, has today become a strong base for the setting up of cotton ginning factories. In due course, the local economy of this South-Indian town gave way to hosiery cluster and is today known as the country’s biggest knitwear cluster accounting to a whopping 90% of the nation’s total knitwear exports.  Let us take a closer look at what is now known as the ‘Knit City of India’ and rightly so!

Importance of GST(Goods and Services Tax) For Textile Industry

The Goods and Services Tax or GST is a form of Value Added Tax which is predisposed to include all the indirect taxes and would be the same for every region of the country unlike the VAT. Simply put, the GST will allow the state government to get a share that was earlier entitled only to the centre in the form of Central Sales Tax.The Goods and Services Tax, if and when approved will benefit the textile industry in more than one ways, and hence it is only just to study the importance of GST in this context.

Tamil Nadu announces Schemes to boost textile Industry

It was only this month that the Tamil Nadu State Government announced various schemes to boost the state’s textile industry. In fact, the Chief Minister of the State, Ms Jayalalitha also waved a green flag for the setting up of a panel which is assumed to aid integrated development of this sector.

Evolution of Garment/Textile Industry

The evolution of the textile as well as the garment industry in India, if nothing, has been quite dramatic. In fact the Indian textile industry is hugely diverse much like the nation itself.  As strong as this industry is, it derives this innate vigour from its wide range of fibres or yarns, right from the natural ones like cotton, wool, jute and silk, to the synthetic ones of the likes of polyester, nylon, acrylic and viscose. While the sector was no less than thriving under the British Rule, it was only after independence that the Indian textile industry shot up like never before. Thanks to the 5-years plans, the sector saw a steep rise, of the magnitude of 22 million in production in 1982, just double of what it was in 1951. It further registered an increase and went up to 26 million, by the end of the year 1989.

Why Persian Carpets Are Considered The Best In The World?

It is not just today, that the Persian carpets have caught the eyes of the lovers of their rugs. In fact, the carpets woven in this part of the world have been doing the rounds in the most famous art galleries for centuries now. Made of high-quality wool, these carpets are woven on silk warps which give them their eccentric fine quality. Needless to say, when you set out to buy one, these carpets can dig a hole in your pocket, however, you will still not want to complain! Such is the charisma of these hand-woven wonders!

If you’re still wondering, why is that the Persian rugs are considered to be the best in the world, take a look at the below mentioned points and see for yourself!