Perfect Sourcing Magazine - September 2019

In this issue

Finally the Government Wakes up To Downfall?
After a long hibernation to problems related to downfall of the Indian economy finally
the moment has come when the Government has realised that if mandatory steps will
not be taken immediately all the important industrial sectors will not sustain. After
taking away MEIS scheme the Government has now come up with Remission of Duties
or Taxes on Export Products (RoDTEP), a new scheme announced by FM Sitharaman
which will replace the premier Merchandise Exports from India scheme (MEIS) for all
goods exported. Exporters earn duty credits at fixed rates of 2 per cent, 3 per cent and
5 per cent, depending upon the product and country. Officials said the rates are yet to
be decided in the new RoDTEP scheme but it will be based on previous method.
While FM must be happy announcing a number of new schemes to safeguard textile
and apparel industry the industry reacted differently and claimed it to be a small
relief in a big catastrophic condition. Most of the players our team interacted with
complained that changing policies randomly does not help but affects business in a big
way especially exporters who take orders well in advance and by the time the
payment time comes the policy is changed and altered

Apparel Exports Need Fresh Lease Of Life… But How???? A Report..

Last few months have been catastrophic for apparel exports industry of India. One after the other the industry was struggling with one or the other challenge. While global competition is one aspect of the challenges within the country at the moment is being regarded as the biggest deterrent to the slow situation of the industry. Burdened with higher tariffs than their competitors, the exporters need more incentives and protection to stay afloat. India’s foreign trade policy pundits need to renegotiate tariffs on apparel exports with the EU and the US to tackle the emergent economic slowdown in the country. The apparel industry is the country’s largest low technology employer after agriculture, with 45 million workers, contributing two percent of GDP and 15 percent of export earnings.

10 mins

Peppermint Clothing Creating Complete Range In Kidswear

Automation & Productivity Core Focus Areas Eyes Turnover of Rs 300 cr in next few years

5 mins

Indian Manmade Fibre (MMF) Industry In Jeopardy: Increased Imports And Esclated Cost Affects Industry

Working out tax rates for different goods and services was a huge challenge for India’s Goods and Services Tax (GST) Council. Although the GST has taken under consideration a significant part of the industry - cotton and natural fibers, distortion has been introduced in the GST system, through the ‘inverted’ duty structure on man-made fibers. Man-made fiber and synthetic yarn attract an 18% GST rate as compared to 12% excise duty, while the fabric produced from these fibers is taxed at 5%. This creates a situation where the input is taxed at a much higher rate than the final product.

3 mins

Lectra Offering Solutions For Smart Factories & Fashion

The Conventional fashion supply chain model is too opaque, fragmented and slow to respond to diversified consumer demands, quickly enough to satisfy the customers.

2 mins

Read all stories from Perfect Sourcing

Perfect Sourcing Magazine Description:

The leading publication for the Indian export textile & apparel Industry.The magazine is distributed free of cost at more than 30 national and international B2B fairs and exhibitions related to apparels, home textiles, hard goods, denims, machinery and, accessories. We have a good presence at industry conferences, seminars, symposiums, etc.With a circulation of 27,000 copies every month we offer you the opportunity to be in front of approx. 30,000 potential clients who are either the Chairman, MD’s, CEO’s CFO’s COO’s, Owners, production and merchandising teams in textile, home textile, fabric, testing, apparel, floor coverings, handicraft, rugs and retail market of India, who make decisions on company’s behalf.