Close to 65 Memorandums of Understanding (MoU) were inked on day two of the 3-day global textile and handicrafts event ‘Textiles India 2017’, hosted by the textile ministry on Saturday. The event showcased the entire value chain of Indian textile industry, handloom and handicrafts sector. Of the partnerships that were forged, 3 MoU’s were between governments, while the rest (62 MoU’s ) were between business, informed Union textile minister Smriti Irani adressing reporters on Saturday at Helipad grounds.
“Among the government partnerships, we have inked a MoU between India and Australia on handloom, handicraft and fashion sector and just now a request had come from Australian firms to work on improving wool quality in India with Indian companies. India and Chinese government have signed a MoU so that Chinese researchers and National Silk Board can work in tandem in the field of silk research.”
“Silk waste can be harnessed in pharmaceuticals and in beauty products and this MoU will explore opportunities in diversification and on sericulture. BGMEA University of Fashion and Technology or BUFT from Bangladesh and India’s National Institute of Fashion Technology(NIFT) will partner for an exchange of fashion research. Close to 62 MoUs were inked between businesses and this is proof that the Indian textile industry is looking to forge international partnerships to grow their local business. We also want to closely link the textile industry with tourism which is why union tourism and culture minister Mahesh Sharma will be present at the event.”
While Assam, Maharashtra and Andhra Pradesh were partner states for the mega trade show, Telengana, Karnataka, Jharkhand were focus states and there were special state sessions for investment opportunities in Andhra Pradesh, Maharashtra, Assam and Gujarat at the mega trade show
Speaking on GST rollout in the country on Saturday, Irani said, “Yesterday industry came together on one this stage here in one voice supporting the Prime Minister on this national tax reform called GST. Everybody knows that this a step taken in convergence, conversation and a cohesive decision taken with all state governments. Everybody knows that this is a journey which was unanimously traveled by governments across the country- one of the shining examples of cooperative federalism.
Everybody knows that those who have trade under 20 lakhs do not have to file returns, those who have trade up to 75 lakhs can avail of the composite scheme, if you are trader you come under 1%, a manufacturer would come under 2 %. I think that in itself covers and in some ways gives a lot of security and support to small traders. State governments and finance ministry has given out facts that need to be put in the public domain. One needs to recognise that this is not an individual decision, but one taken by every state government, every political party in this country.”
Irani averred that a bevy of cabinet ministers like Radha Mohan Singh, Venkaiah Naidu, Nirmala Sitaraman (MoS) for commerce and industry, Rajiv Pratap Rudy, Nitin Gadkari, Mahesh Sharma, textiles secretary Anant Kumar Singh , NITI Aayog Vice-Chairman Arvind Panagariya and Arun Jaitely are slated to be present at the valedictory function at the close of Textiles India 2017. The textile minister also declared the mega trade show held at Helipad Grounds open to public on from10 am and said that it will not just be limited to industry but common people as well.