From 22nd September, textile, garment and apparel products priced below Rs. 2,500 (US $ 28) will attract 5% GST, reduced from 12%. As a result, inventories purchased earlier at the 12% rate may face IDS, preventing retailers from fully claiming ITC.
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Recognising Tirupur’s status as the 'Knitwear Capital of India', he noted its nearly 10,000 garment units that employ lakhs of people and produce around 90% of India’s cotton-based exports, including casual wear, sportswear, socks and caps.
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The scope of the rules covers products such as clothing, accessories, hats, footwear, blankets, bed and kitchen linen, and curtains. Following a Parliament initiative, member states will also be able to set up EPR schemes for mattress producers.
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The Ministry of Textiles has also backed the project, which aligns with the Government of India’s strategy to build a sustainable, circular and globally competitive textile sector, while positioning Indian innovation at the forefront of global textile transformation.
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Manufacturing
Oasis Accessories to invest US $ 4.8 million in garment accessories factory at Mirsarai EPZ
Oasis Accessories (Pvt.) Ltd., a Bangladeshi firm, will invest US $ 4.8 million to set up a garment accessories factory in the BEPZA Economic Zone (BEPZA EZ) at Mirsarai, Chattogram.
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A group of business leaders in Chattogram has called for the removal of the government-appointed administrator of the Chittagong Chamber of Commerce and Industry (CCCI), accusing him of bias and incompetence.
