Tag Archives: GST

Bangladesh has started making inroads in India's readymade garments (RMG) market, due to manufacturing cost advantages there after implementation here of the Goods and Services Tax (GST).

Against the backdrop of a decline in exports this year, India on Tuesday unveiled additional fiscal incentives of around Rs 8,500 crore to promote shipments from the country for labour-intensive sectors like leather, carpet and marine products.

The precipitous drop in October exports shows that the feared GST-fuelled disruption of MSME supply chains has now started taking its toll on the country’s export performance.

Hit by a sharp decline in textile exports in the current fiscal year, India's commerce and industry ministry has announced doubling an incentive under the Merchandise Export from India Scheme (MEIS) for garment exporters with immediate effect.

Placards announcing job vacancies in garment manufacturing units, which used to be a common sight in Tirupur, is a rarity now. But, a cross-section of garment manufacturers maintain that there is acute shortage of labour.