EVENTS CORNER

Molad to announce its future endeavours

Brainchild Of Surya Prakash Sharma – Chairman and Mumtaz Sheikh – Director, Molad Group of Companies, a multifaceted company with offices in Delhi and Mumbai, comprises of sections like Molad Model Management, Molad Communications, The Film Institute and Molad Productions. The company with is rapidly spreading its wings in several different arenas and will be announcing their future plans. On July 5, auditions for Delhi Dance Championship (DDC) 2017 will be announced. Delhi Dance Championship will be India’s biggest Live Dance Competition. The company aims to introduce this format in every state and organise the championship under the name of their respective states. For further information visit www.ddcindia.com. That’s not all, on the same day, the company will launch the teaser ‘Shaamat’, a psychological horror thriller series, made under the banner of Molad Productions. And finally, July 5 will also witness the launch of the Film Institute by the company.

CMAI press conference

The Clothing Manufacturers Association of India (CMAI) organised a press conference for a briefing on the anticipated impact of GST on the Developments &Growth of the Indian Garment Industry and to appraise on India’s Largest Apparel Trade Show – ‘65th National Garment Fair’, to be held in Mumbai between July 10 to 12 at Bombay Exhibition Centre, NSE Complex, Goregaon (E), Mumbai. Seen in the photo are during the CMAI Press Conference held on June 27 in Mumbai (from left) Rohit Munjal, Jt. Chairman – Fair Sub Committee, Ashok Shah, Chairman – Fair Sub Committee, Rahul Mehta, President; Premal Udani, Chairman – Board of Trustees; Rajesh Masand – Vice President and Jayesh Shah – Jt. Hon. Secretary.

In celebration of women achievers

Chief Minister of Maharashtra, Devendra Fadnavis, with the recipients of WOW Awards 2017 – Reconnective Healer and Art Curator Jalpa Vithalani of Cosmic Heart Gallery and SingerBanker Amruta Fadnavis, the First Lady of Maharashtra.

The GST impact

GST Council has announced 12% GST rate for Indian traditional namkeen, savouries, farsan, potato chips, banana chips, etc. This rate should be reduced to 5% to maintain uniformity with GST rate for sweet and mithai, stated Ajit Mota, President – Snack Food Association of Maharashtra. The GST rate for Namkeen is 12% (double from the present tax), but industry hardly receives any input credit as its raw materials are agro based. There is no tax on raw materials like potato, banana, maida, besan, salt, pulses etc. There is only a marginal tax on masala. Ajit Mota further stated that Pan India Industry size for namkeens is large with 8 to 10% growth rate per annum. 95% of industry has been located in unorganised sector. Mainly this industry consists of home units, cottage units and small scale units. These units operate at a very thin margin. Thus, the industry could not sustain 12% GST rate, resulting in closing down of units, which would lead to large scale unemployment.