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Coimbatore, May 22 () Indian Texpreneurs Federation (ITF) on Friday thanked the RBI for extending loan moratorium to six months which would help textile industries manage cash flow towards re-starting businesses during the post-COVID-19 times. Conversion of deferred interest as a one-year term loan would also help the companies manage the liquidity and speed up the revival process because every rupee is important now to streamline post-COVID business operations, ITF convenor Prabhu Dhamodaran said in a statement here. Stating that the industry expected the same level of repo rate reduction, he said, "With the announcement by the RBI, our entire energy should be on talking with banks to get the practical benefit of all rate cuts." Prabhu thanked the Finance Ministry and RBI for the timely intervention, even as the RBI governor had mentioned about its vigilance and battle-readiness, which was giving confidence to industry players. Meanwhile, Tirupur Exporters Association (TEA) also thanked RBI for reduction of the policy repo rate by 40 basis points (0.4 per cent) from 4.40 per cent to 4 per cent with immediate effect. He said this was the second reduction RBI has done after reducing from 5.15 per cent to 4.40 per cent on March 27 during the COVID-19 environment. Thanking RBI for the measures to improve the functioning of markets, TEA president Raja M Shanmugham hailed the decision to increase the maximum permissible period of pre- shipment and post-shipment export credit sanctioned by banks from the existing one year to 15 months for disbursements made upto July 31. He said this measure is beneficial to Tirupur knitwear garmenting units, as they have resumed operations and functioning partially from the second week of May. On the import front too, the RBI has decided to extend the time for completion of outward remittances against normal imports into India from six months to 12 months from the date of shipment for such imports made on or before July 31, which would be helpful for the speciality fabric and machine importers, he said. NVM NVG NVG

Textile bodies welcome RBI measures

Coimbatore, Mar 13 () The Tirupur ExportersAssociation (TEA) on Friday thanked the cabinet committee oneconomic affairs for giving approval to remission of dutiesand taxes on exported products (RoDTEP), which, theassociation said, was a great relief to the knitwearexporters. At present, GST taxes and import or customs dutiesfor inputs required to manufacture exported products areeither exempted or refunded.However, certain taxes/duties/levies are outside GST,and are not refunded for exports such as VAT on fuel used intransportation and duty on electricity used duringmanufacturing, TEA president Raja M Shanmugham said in astatement.These would be covered for reimbursement under theRoDTEP scheme and the rebate would be claimed as a percentageof the freight-on-board value of exports, he added. NVMNVG NVG

Remission of tax on exported products welcome, says TEA

Kolkata, May 28 () Hosiery major Dollar Industries remained optimistic to register a growth of 8-10 per cent in revenue in the current fiscal, notwithstanding the slowdown in the economy in the wake of the coronavirus outbreak, an official said on Thursday. The company unveiled its new brand identity 'Wear the Change' with a fresh logo through a video-conference amid the ongoing lockdown. The web launch of its revamped brand identity marked the presence of its brand ambassador, Akshay Kumar. Kumar is associated with the brand for almost a decade. "The market demand has been excellent. Shops are operating in the green and orange zones. Hosiery products are essential. We are hopeful to cover our losses in the remaining months of the current fiscal, and expect to post 8-10 per cent revenue growth this year amid headwinds," Dollar Industries managing director Vinod Gupta told . In the last fiscal, sales are expected to be flat, compared to Rs 1,030 crore revenue in 2018-19 as things had gone haywire in the second half of March due to the lockdown. The main manufacturing factory at Tirupur is fully functional without any restriction, and supply chain is also near normal, he said. BSM BDC BDC

Dollar Industries reveals new brand identity amid lockdown, sees 8-10pc growth in FY'21

Chennai, Apr 25 (): Private diaries operating inTamil Nadu on Saturday requested the state government to allowthem to sell milk for two hours during the four-day completelockdown which would come into effect from tomorrow.Aimed at preventing the spread of COVID-19, thegovernment of Tamil Nadu on Friday announced complete lockdownfor four days in five districts-- Chennai, Coimbatore, Maduraiand three days in Salem and Tiruppur from Sunday.Major private diaries operating in the state-Thirumala, Jersey, Heritage and Dodla- requested thegovernment to grant permission to allow retail shops to remainopen "for sale of milk for two hours during the completelockdown".Though the dairy companies can supply the milk toshops, they would not be available to public as the shopswould be closed due to complete lockdown, the companies saidin a press release."If dairy companies are not able to sell they wouldnot be able to procure milk which would have an impact onfarmers who are dependent on sourcing...," they said.Chief Minister K Palaniswami on Friday whileannouncing the complete lockdown said, "the lockdown will befully implemented in the Corporation areas of Chennai,Coimbatore and Madurai from 6 am on April 26 till 9 pm onApril 29."Salem and Tirupur Corporation zones will see similarcomplete lockdown between Sunday 6 am and Tuesday April 28, 9pm, he had said.The government has clarified that supply of AAVIN milkrun by the Tamil Nadu Co-operative Milk Producers' FederationLtd would be available to public during the lockdown.Tamil Nadu has reported 1,755 coronavirus cases so farwhile 22 people have lost their lives in the state. VIJ SS

Pvt dairies urges TN govt to allow partial operation during complete lockdown

<ul><li>The Walmart-owned Indian e-tail giant continues to place its focus on India’s Tier 2 and <keyword id="3093711" type="COMPANY" weightage="20" keywordseo="Tier-3">Tier 3</keyword> markets. </li><li>Termed as ‘Bharat’, the segment is being targeted by all major retailers to capitalise on India’s next 200 million internet users for the next phase of growth.</li><li><keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> said that it has seen a staggering 65% new user growth from Tier 3 markets after the COVID-19 lockdown restrictions were lifted. </li></ul>Walmart-owned Flipkart has its eyes set on India’s Tier-2 and Tier-3 markets, which is increasingly becoming a favourite for all online retailers in the country. Termed as ‘Bharat’, the segment is being targeted by all major retailers to capitalise on India’s next 200 million internet users for the next phase of growth. Flipkart today said that it has seen a staggering 65% new user growth from Tier 3 markets after the COVID-19 lockdown restrictions were lifted. Looking at Bharat, the company has made several developments. Earlier in June 2020, Flipkart had added three new vernacular languages in addition to the use of Hindi and English on its platform – Tamil, Telugu and Kannada. “This year, the adoption of native languages saw a 2.5x increase from pre-COVID* to the festive period* (January to November 2020),” said the company. The e-commerce giant also defined the trends post lockdown to talk about the emergence of a new segment called “new essentials”, which it defined as essential goods for daily use as well as for work and remote learning. Most in-demand product segments according to Flipkart <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Food and nutrition </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Household </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Toys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Audio products </td></tr></tbody></table> “As India’s homegrown e-commerce marketplace, our efforts continue to be dedicated to making e-commerce inclusive for every customer, irrespective of where they are located. This past year, we have strived to expand our offerings across categories to ensure our consumers are well equipped with everything that they need. We have consistently worked towards creating an ecosystem that serves consumers’ growing needs and also helping Indian sellers and MSMEs access the pan-India market more effectively &amp; efficiently,” said Rajneesh Kumar, Chief Corporate Affairs Officer, Flipkart Group in a statement. In the post lockdown period, Flipkart has also seen an uptick in the number of sellers on its platform – a 35% increase in sellers onboarded in 2020 with most of sellers coming from tier 2 and tier 3 regions such as Tirupur, Howrah, Zirakpur, Hisar, Saharanpur, Panipat and Rajkot. SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-10-billion-ipo-will-double-walmart-investment-within-3-years/articleshow/79601513.cms">Flipkart’s reported $10 billion IPO plan will mean Walmart’s investment in the Indian e-commerce giant will double within 3 years</a>

Flipkart shares new data on how the Indian heartland is turning into a big business for the e-commerce giant

Jaipur, Apr 28 () People in tribal-dominated Sagwara of Rajasthan's Dungarpur district are making Personal Protective Equipment (PPE) kits to help the nation in the fight against coronavirus. Workers, mostly women, are making 2,000 kits every day catering to the need of corona warriors in their fight against the virus. After receiving the order from the government, a private company has roped tribals in the work. "The work started 10 days ago. Earlier 900 kits were being made every day, now this has been increased to 2,000 per day," Rohit Trivedi, director of the NZ Seasonal Wear company said. Trivedi said most of the workers are tribals who have been provided training by the company. Among the nearly 200 workers, employed at the company amid the lockdown, 50 per cent are women. The Centre had on Monday said the production capacity of the coverall PPE kits are required by medical personnel treating coronavirus-infected patients in the country has been increased to more than one lakh daily. About 50 per cent of the coverall PPE kits production in the country is in Bengaluru. Also the kits are being manufactured by approved units at Dungarpur in Rajasthan, Tirupur, Chennai and Coimbatore in Tamil Nadu, Ahmedabad and Vadodara in Gujarat, Phagwara and Ludhiana in Punjab, Kusumnagar and Bhiwandi in Maharashtra, and Kolkata, Delhi, Noida, Gurugram and some other places. On March 2, the Ministry of Health and Family Welfare decided on PPE kits availability after international companies refrained from supplying them. HLL Lifecare Limited is undertaking procurement of kits for hospitals and healthcare organizations under the Ministry of Health and Family Welfare. PP KBM AG CK

Tribal belt in Rajasthan making 2,000 PPE kits daily to help fight against COVID-19

Coimbatore, Feb 13 (): The Central government wouldaddress all issues in its new National Textile Policy which islikely to be announced in a couple of months, Union TextileSecretary Ravi Capoor has said.This was announced on Wednesday during an interactivesession with captains of the textile industry in theregion.Capoor said the policy would ensure basic rawmaterials availability at international price and encouragescale-up of operation by developing 10 mega textile parks withover 1,000 acres of land closer to the ports, amongothers. The new policy would address power cost, credit costand its availability and expedite conclusion of the free tradeagreements with EU, the UK and other countries to boostexports, a press release from the Confederation of IndianTextile Industry (CITI), which organised the session, quotedCapoor as saying. He exhorted the textile industry, especially in TamilNadu, to diversify into polyester segment to boost exports.The global textiles market of cotton and man-madefibre is in the ratio of 30:70 while it was the reverse inIndia.Of the total textile exports, cotton textilesaccounted 80 per cent due to the price advantage of the home-grown cotton, while it is only 20 per cent in the man-madefibre segments due to the expensive raw material.Capoor asked Tirupur Knitwear Cluster to brand itsgarments and products under sustainable programme that mightfetch a larger margin globally and the government would extendnecessary support to promote the brand. CITI chairman T Rajkumar said the government hasidentified the textile industry as the thrust area and in realterms Make in India facilities without any imports rightfrom fibre to finished goods, ensures inclusive growth byproviding jobs. NVMNVG NVG

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Textile bodies welcome RBI measures

PTI

Remission of tax on exported products welcome, says TEA

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Dollar Industries reveals new brand identity amid lockdown, sees 8-10pc growth in FY'21

PTI

Pvt dairies urges TN govt to allow partial operation during complete lockdown

PTI

Flipkart shares new data on how the Indian heartland is turning into a big business for the e-commerce giant

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Tribal belt in Rajasthan making 2,000 PPE kits daily to help fight against COVID-19

PTI

New textile policy will address all issues: Govt official

PTI

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