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EPFO to discuss optional EPF for apparel, made-ups sector

The retirement fund body Employees’ Provident Fund Organisation (EPFO) has decided to take up the issue of optional EPF for employees in apparel and made-ups sector at the trustees meeting scheduled to be held on March 30. A proposal to amend the EPF & MP Act for making EPF contribution optional for those earning less than Rs. 15,000 per month will be discussed during the meet. Earlier last year in June, the Centre brought a […]

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India notes decline in textile exports

India has noted a decline of 4.5 per cent in its textiles export during April-December of 2016-17 fiscal. This was informed by Minister of State for Textiles Ajay Tamta. “The exports of textiles during 2016-17 (April-December) were US $ 26 billion compared to US $ 27.2 billion during 2015-16 (April-December),” Minister of State for Textiles Ajay Tamta said in a written reply to Rajya Sabha. He also said that during the three quarters of this […]

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Import duty exemption to benefit Indian garment exporters

Indian Government’s decision to allow additional (duty) benefit on import of specialty man-made fabric will immensely help in increasing Indian exporters’ competitive edge against Bangladesh and Vietnam by offsetting around 2-3 per cent import duties in the Western markets. “India has been losing to competition from other nations like Bangladesh and Vietnam because of higher labour cost, absence of cluster manufacturing and inability to attract women workforce to reduce labour costs. These countries have started […]

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