MARKET & ECONOMY​

Canadian companies increasingly look at sourcing readymade garments from India and Indian apparel manufacturers have huge potential to increase its share in the Canadian market, according to Indian High Commissioner in Canada Ajay Bisaria.

The Clothing Manufacturers Association (CMAI) of India has urged the Centre to reduce GST on all readymade garments to 5 per cent from 12 per cent and retain the same on all types of cotton yarn, synthetic yarn, fabrics and made-ups.

A four-year study by the Renewal Workshop revealed 82 per cent of what is considered apparel and textile waste can actually be renewed and resold, effectively meaning brands are ‘sitting on their next supply chain’, it said.