MARKET & ECONOMY​

Pham Xuan Hong, president of Ho Chi Minh City’s textile association, recently urged Vietnam’s textile industry to source raw materials from Malaysia and India while the Coronavirus storm gets over in China.

The magnitude of public health and safety issues posed by the rapidly escalating COVID-19 outbreaks have led to the postponement of Gartex Texprocess India, which was slated to make its debut in Mumbai.

Abundant young talent, simple trade agreements, income tax breaks, cheap labour and power, friendly tax laws, strategic geographical position and the announcement of African Continental free trade area (AfCFTA) makes Africa the preferable destination for apparel manufacturing industry.

Ashwin Chadran of SIMA has stated that the Ministry is also planning to launch a scheme “Nirmal Cotton Mission” with CCI as a nodal agent that would go a long way to make Indian cotton to become the best quality cotton in the world.

GHCL, India’s leading Chemical & Textile Company, post its board meeting today, announced an Interim Dividend of Rs 3 per equity share for the financial year 2019-20.The record date for the purpose of Interim Dividend is fixed on March 26, 2020.