News Update

Brazil’s proposal to tax super-rich globally finds many takers in G20 GroupCPM manifesto promising annihilation of all weapons of mass destructions including nuclear, draws flak from Defence MinisterBiden favours higher steel tariff on ‘cheating’ China + may up tariff on dominant solar tech suppliersUS Poll: Biden trumps Trump in money race by USD 75 mnNetanyahu says Israel to decide how and when to respond to Iran’s aggressionGoogle slays costs by laying off staffers & shifting roles outside USCoast Guard apprehends Indian fishing boat with unauthorised cashI-T - Sales supported by payments through banking channel which were not only disclosed in VAT returns but duly verified & accepted by VAT Department, cannot be treated as bogus to invoke Sec 68: ITATSPACE, testing & evaluation hub for sonar systems, set up by DRDO, inaugurated in KeralaGST - Malabar 'Parota' Is Akin To 'Bread', Exigible To 5% GST: HCST - Principles of constructive res judicata applies - Petitioner cannot seek to assail proceedings on grounds which were available to be raised in first round of litigation: HCHeavy downpours drown Dubai; Airport issues travel advisoryGST - If the Proper Officer was of the view that any further details were required, the same could have been specifically sought before passing any order - Matter remitted: HCHM pledges to make India completely Maoist-freeGST - Proper Officer has not applied his mind to the reply submitted and has merely held it to be devoid of merits - Order set aside and matter remitted: HCGST - Order was issued without hearing the petitioner - It is just and necessary to provide an opportunity to petitioner to contest the tax demand on merits: HCGST - Classification - It is incumbent on the respondent to duly consider all contentions raised by petitioner objectively without any pre-determination: HCGST - Whether the amount reflected as ITC tallies with the value of credit notes issued - Petitioner's explanation not duly examined - Matter remanded: HCGST Penalty of Rs. 3731 Crores on an employee!CCI okays acquisition of additional shareholding of Thyssenkrupp by Protos EngineeringMicrosoft to inject USD 1.5 bn in AI Group G42 of UAEDRDO organises workshop on 'Emerging Technologies & Challenges for Exoskeleton'Canadian budget proposes more taxes on higher income groups & tax credits for EVsI-T - Since application filed for condonation of delay is rejected by order without stating reason is set aside and application is restored for reconsideration: HCWorld leaders appeal for quick ratification of UN Ocean TreatyI-T- Re-assessment - if assessee submits objections thereto, then AO must pass order dealing with objections & also establish that facts presented by assessee are prima facie incorrect: HCUK House debates ban on smokingI-T- Deduction u/s 43B in respect of GST cannot be disallowed, where assessee is found to have paid GST before due date of filing ITR: ITATGlobal economy to grow at 3.2% in current year and also 2025: IMFGreat Barrier Reef in Australia suffers serious bleachingVAT - Input Credit - mere production of invoices or payment made by cheques/RTGS is enough to discharge burden of proof upon assessee: HCUS to impose fresh sanctions on Iran’s missile programmeDelhi Police nabs woman for thieving luxury SUVs
 
Goyal calls for early convergence of efforts of top 5 - NIFT, IPP, NID, FDDI & IIFT

By TIOL News Service

NEW DELHI, JUNE 02, 2023: UNION Minister of Textiles, Commerce & Industry, Consumer Affairs and Food and Public Distribution, Piyush Goyal said that fashion trends, product design, innovative packaging, high quality of goods and services and high exports are going to determine India's success story in the future. He said this while chairing the 'National Workshop on Convergence of Five Institutes' held in New Delhi yesterday.

The unique initiative to bring about convergence of the five institutes under the Ministry of Textiles and Commerce and Industry was initiated in 2022. The collaboration between five Institutes namely, Indian Institute of Packaging (IPP), National Institute of Fashion Technology (NIFT), National Institute of Design (NID), Footwear Design and Development (FDDI) and Indian Institute of Foreign Trade (IIFT), has the ability to build a more dynamic and integrated national design and business education ecosystem that benefits students, industries, and society as a whole. The convergence will lead to integration of knowledge, techniques, and expertise from multiple fields will facilitate transdisciplinary integration among different unique institutions in tune with the objectives of the National Education Policy 2020.

Piyush Goyal said that India's  transformational journey since 2014 under the leadership of the Prime Minister Narendra Modi is now recognised globally, and drew attention to Morgan Stanley research report which also recognizes how India has emerged as a key driver for Asian and global growth. The Minister noted the recently released high GDP growth estimates for FY 2023-24 and attributed it to the visionary guidance of the Prime Minister. Goyal said that these high estimates make every Indian proud as it's a recognition of the efforts made by the Government over the last 9 years across the world.

Piyush Goyal appreciated the presentations given in the workshop by the participants and urged the concerned Ministries to work towards implementation of the ideas in the presentation within allocated timelines. He said that the ideas deliberated upon in the workshop must be given proper shape and implemented for effective utilisation of such workshops.

The Minister said that the National Education Policy 2020 aims to change the mindset pertaining to education by changing the curriculum and making it more inclusive and dynamic. He said that the Policy encourages critical thinking amongst the students to help them in their career. He said that the convergence initiative of the five institutes under the Ministry of Textiles and Commerce and Industry will not only strengthen the institutes but also the Industry academia partnership. He said that this will result in the institutes' success story being determined by minimal strict government interference as self sufficiency is the best module for success.

Goyal said that higher intake must be explored in these institutions as there is a huge demand for designers, fashion specialists, etc. He said that the institutes must work towards developing skills related to finance, entrepreneurship, personality development, ability to face challenges in life, etc. amongst their students. The Minister also suggested that credit systems can be developed amongst these institutions to provide more flexibility for students to move from one institution to another and offer dual degree courses.

Piyush Goyal highlighted the role played by the alumni of these institutions with respect to donation, faculty, mentorship, etc. He stressed upon the need to focus on better placements from these institutes. He also suggested enhanced engagement with the industry for better overall development of the institutes and also offering curriculum which can help the students in the workplaces.

A national workshop was organised by NIFT at New Delhi on 31st May and 1st June 2023. Academia, alumni and industry were invited by each of the institutes to deliberate through joint presentations followed by breakout sessions to go into the details of functionality of common ideas. The first day of the workshop was held at NIFT Campus in New Delhi and Union Minister of Textiles, Commerce & Industry, Consumer Affairs and Food & Public Distribution, Piyush Goyal chaired the session on the second day of the workshop on 1st June 2023 at Vanijya Bhawan, New Delhi. The session was attended by the  senior officials from the Ministry of Textiles and Ministry of Commerce and Industry.

 


POST YOUR COMMENTS
   

TIOL Tube Latest

Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.




Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.