ASSOCIATION NEWS countries under WTO regime. Due to this LDC has captured prime market share despite they don’t grow cotton, they import cotton from India, produce yarn &fabrics and export to other countries. We are directly in competition with international market for cotton yarn where survival of our product is on a threat against capacity and advantages of lowered duty to the LDC – Least Developed Countries. 1 Include 100% Cotton Yarn manufactured in the state of Gujarat to avail Merchandise Export from India Scheme (MEIS) of 5%. Currently there are no benefits of MEIS for exporting Yarn. By taking all the above points into the consideration, you are requested to allow MEIS @ 5% for Cotton Yarn (HS Code 5205) as industry needs due support from Government for its healthy survival in this competition and unpredictable scenario. Spinning Industries fulfill many criteria to qualify in MEIS. At present Govt. of In-
2. Clarity on EPCG benefits post GST implementation.
dia has not given MEIS Benefit to Cotton yarn, while all other industries are getting 2 to 3 % of benefits depending upon the categories of products in textile segment under MEISscheme. We shall request the Government of India to allow MEIS benefits to 100% Cotton Yarn manufactured in Gujarat to an extent of 5%.
Our industry is extensively benefitted of EPCG Scheme of Govt of India as of now. After GST implementation, we have to pay the Duty first then to bear till its reimbursement on claim from Govt. This requires huge working capital in process which is adding 2 – 3% cost to the industry’s operative cost.
Women Employment in Spinning Industries is ranging around 35 – 50% of total employment. Henceforth it doesn’t only support the women empowerment but also, to the generation of local women employment.
Kindly reform the EPCG in the form that it should be continue under GST somehow with proper explanation and clarity and should be functional same like today even after GST implementation.
In Spinning Industries, value addition comprises of approx 100 – 150% i.e. Cotton @ Rs 110/ Kg to 120 Rs/kg is the raw material, which gets converted @ Rs 200 – 300 / Kg yarn for various counts that means compared to other products the value addition is much higher. On the contrary, other products in India is granted MEIS benefits @ 2 – 3 % MEIS viz. Pharmaceutical, Brass, Automobile, Engineering etc to name a few.
We are thankful for the vision of Mr. Narendra Modi who was the then Chief Minister of Gujarat who saw vision of “FARM TO FABRIC / FASHION”. This vision and object was to add value of the cotton grown in the state of Gujarat to produce the Fabric and supply and export to other countries henceforth increasing multi fold value addition to cotton.
BRAND UPDATE
Khadi by Raymond – India’s First Branded Khadi Label Offers an exquisite range of Khadi Fabrics & an array of ready to wear apparel lect international markets • Khadi &Village Industries Commission certifies Raymond to use Khadi mark •An initiative to position Khadi as a ‘Fashion fabric’ globally • Collection to be available in top Raymond stores (350+) and select Multi Brand Outlets beginning August 2017
• Raymond Khadi positioned to create its own niche in the fashion industry •Exclusive Trade Preview forRaymond’s expansive dealer network in India & se-
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Mumbai, 18th May, 2017:Reckoned for its many firsts in the industry,Raymond Limited - India’s leading Textile and Apparel conglomerate, launched India’s first branded Khadi label - ‘Khadi by Raymond’at a grand event in Mumbai. This mega launch witnessed theaugust presence of Hon’ble Minister of State (MSME) Shri Giriraj Singh as the Chief Guest and Ms. Sumitra Kulkarni Gandhi, granddaughter of Mahatma Gandhi as the Guest of Honor. Other honorary
guests Hon’ble Cabinet Minister (Industry & Mining), Govt. of Maharashtra, ShriSubhashDesai,Hon’ble Cabinet Minister (Education),Govt. of Gujarat,Shri BhupendrasinhaChudasma, Ms.Ansu Sinha, CEO KVIC,Ms. Usha Suresh, FA, KVIC and others who graced this event. KabirBedi,eminent Indian television & film actor andTannishtha Chatterjee, an Indian Film Actress weaved together the evening and created a sense of nostalgiawhilereminiscingIndia’s quest for independence and its association with Khadi as a symbol of self-sufficiency. ‘Khadi By Raymond’ is an exquisite range of fabric blends and ready to wear apparel that resonate with the Indian culture, upholds Raymond’s rich legacy that strikes a chord with today’s discerning Indian customer. Speaking during the occasion, Mr. Gautam Hari Singhania,
www.textilevaluechain.com
May 2017