New Delhi, Friday, 20th September 2019: The Hon’ble Finance & Corporate Affairs Minister, Smt. Nirmala Sitharaman, today made a major announcement by slashing the Corporate Tax on existing companies to 22% and new companies to 15%, in a Press Conference from Goa. Shri T. Rajkumar, Chairman, CITI applauded the measures as a welcome…
Year: 2019
Mumbai, Monday, September 16, 2019: Confederation of Indian Textile Industry (CITI), one of the leading industry chambers of the textile and clothing industry, representing the entire textile value chain through its leading regional & industry associations and 18 major corporate members, has elected its Office-bearers at its First Meeting of…
New Delhi, Monday, 19th August 2019: The Indian Textile and Apparel Industry, the largest Industrial Employer of the Indian Economy today suffers from various infirmities and thus lack export competitiveness in the international markets”, said Shri Sanjay K. Jain, Chairman, CITI. Mr. Jain stated that CITI analysis of the quick estimates of…
Government aims to achieve US$ 5 Trillion economy in the next 5 years – CITI New Delhi, Friday, 05 July 2019: CITI Chairman, Shri Sanjay K Jain hailed the Hon’ble Union Minister of Finance, Smt. Nirmala Sitharaman’s maiden Union Budget 2019-20, presented in the Parliament today. The Union Finance Minister…
New Delhi, Tuesday, 29thMay 2019: Confederation of Indian Textile Industry (CITI) on behalf of the Textile & Clothing Industry joins the nation in congratulating National Democratic Alliance (NDA) for being voted to power convincingly. Shri Sanjay K. Jain, Chairman, CITI said, “Indian economy enters into a very important phase with the new…
Indian Textile Industry needs to gear up for reaping RCEP benefits – CITI New Delhi, Monday, 27th May 2019: Shri Sanjay K. Jain, Chairman, CITI stated that the Indian Textile Industry can play an important role in enhancing total merchandise trade among the RCEP member countries. However, for achieving this, Indian textile industry…
New Delhi, Friday, 17th May 2019: Shri Sanjay K Jain, Chairman, CITI stated that due to the ongoing trade war between the United States of America (USA) and China, the USA has hiked additional tariff to 25% on US$ 200 billion imports from China, applicable from 10th May 2019. He further stated that the additional tariff hike covers…
New Delhi, Monday, 15.04.2019: Shri Sanjay K Jain, Chairman, Confederation of Indian Textile Industry (CITI), stated that the Cotton Advisory Board (CAB), had estimated the Cotton Crop to be 361 lakh bales on 22nd November 2018. However subsequently based on the arrivals and crop situation, CITI feels that the cotton crop may…
New Delhi, Saturday, March 09, 2019: CITI welcomes the new Textile Policy 2019 announced by the Government of Tamil Nadu. Thiru. Edapaddi Palanisamy, Hon’ble Chief Minister of Tamilnadu announced a comprehensive Textile Policy 2019 for the Tamil Nadu Textiles and Clothing Industry. The policy gives a slew of incentives for the…
New Delhi, Friday, 08 March 2019: Chairman CITI, Shri Sanjay Kumar Jain welcomes the Government’s decision to reduce the Hank Yarn Obligation (HYO) from 40% to 30% of the total weaving yarn produced for domestic consumption. This step would remove the anomaly of excessive obligation of hank yarn and save the ailing spinning…