APTF met FM over VAT Notices
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Global Textiles & Apparels , Mumbai , 03 August 2018
Associations & Company affairs 05
Focus Incubation Centre Inaugurated By Minister A Step toward INNOVATION by NITRA
Mumbai : Innovation is the key to success , sustenance , and growth in today ’ s highly competitive customer driven market place . There is no denial the fact that today every customer is demanding as well as discerning .
This situation is prevailing in all the industrial sectors including the Textile & Clothing ( T & A ) sector . As a result of this textile industry is also resorting to new innovation every day where , among other things , Technical Textile plays a key role .
Innovations no doubt speed-up developments but in order to achieve vest to name a few .
Director General , NITRA Dr . Basu , while addressing , proudly added that Focus Incubation Centre ( FIC ) will provide necessary facilities and technical guidance to encourage technical textile entrepreneurs for testing new ideas and technologies and thereby leap forward to more innovations in the products that they make . He is very confident that many new developments will happen in FIC and invites entrepreneurs from across the country to join FIC to make their dreams a reality . Hon ’ ble MoS , Textiles , Sh . Ajay
Tamta , in his address mentioned about the deep impact of textile industry in Indian economy in terms of its significant contribution to the country ’ s GDP , foreign exchange earnings and employment generation .
He asserted that the govt . has already taken many necessary steps and offered various attractive schemes in order to boost the Indian textile industry with special thrust on technical textiles .
While concluding , the minister also shared his views on different issues prevalent in the Indian textile industry .
APTF met FM over VAT Notices
Andhra Pradesh : The Andhra Pradesh Textile Federation representatives from across the state thanked the AP Finance Minister , Mr . Yanamala Ramakrishnudu for assuring them that there would be no notices from the tax department to pay VAT .
The Andhra Pradesh Textile Federation said that the representatives from Visakhapatnam , East Godavari , Chittoor , Kurnool , Krishna and Guntur met the Minister and commissioner at his office and informed that they were served notices to pay VAT , when the VAT for Textiles products was cancelled .
They had informed the Minister that the Telangana Government had totally cancelled VAT on textile products with the letter dated July 10 , 2018 Memo Number 16460 / CT-II ( i )/ 2018-6 .
They had requested the Minister in look into the matter and issue orders to the commissioner not to send notices henceforth to the textiles businessmen . innovation proper fiscal measures , strategic changes and need-based R & D must play a big role .
R & D , in particular , helps the entrepreneurs in optimizing cost of production , improving quality , and leading production to new innovative and value added items so that the individual company and the industry , as a whole , can sustain fierce competition in the market .
The Focus Incubation Centre ( FIC ) at NITRA was inaugurated by the Hon ’ ble Union Minister of State for Textiles , Sh . Ajay Tamta in presence of Sh . Sanjay Kumar Jain , MD , TT Ltd . & Chairman , NITRA and its Past Chairmen , Sh . R . K . Jain , CMD , Pasupati Spg . & Wvg . Mills Ltd . and Sh . R . L . Nolkha , Chairman , Nitin Spinners Ltd . Also present on the occasion were Dr . Arindam Basu , Director General , NITRA and many eminent industrialists .
In his welcome address Chairman NITRA , Mr . Jain said that this was a move to promote innovation and startups in the textile arena by providing the right facilities and support to budding entrepreneurs of the industry .
He also added that NITRA along with CITI is coming out with a Contest to identify bright and innovative ideas , and help such ideas be converted into commercial utility .
NITRA , India ’ s premier Textile Research Association ( TRA ) since its inception in 1974 has been continuously helping the Indian T & C industry achieve innovation through its long research and development experience covering almost every aspect of textile and apparel industry . A rich portfolio of 15 patents ( awarded and filed ) and successful completion of more than 200 need-based research projects to support the industry , undoubtedly , is an ample proof of that .
This big gamut of NITRA ’ s research & development activities has touched upon both central & state govt . sponsored researches as well customized researches conducted for leading companies in Indian textile industry .
Furthermore , it is a matter of great pride that today many technologies and products that are developed by NITRA ’ s rich pool of scientists have been commercialized and used successfully in the industry .
Keeping NITRA ’ s excellent service for the textile industry in mind and to bring up this success to the next higher level , MoT , GoI has designated NITRA as Centre of Excellence ( CoE ) for Protective Textiles & Automotive Textiles with providing infrastructure for developing expertise and technical capability for quality evaluation , product development and knowledge dissemination in the field of protective textiles .
Similarly , to live up to the govt .’ s trust , NITRA scientists had also come up with many innovative products in this domain such as Military and paramilitary uniforms from NYCO , Cut resistant gloves from composite metallic yarn , and Development of Fabric for stab resistant
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