MARKET & ECONOMY
Huntsman Textile Effects has extended the HIGH IQ performance assurance scheme to help mills, brands and retailers meet consumer demand for garments and accessories with built-in sun protection.
The famous USTER® Tester celebrates its 70th anniversary this year, and its unique reputation as a driver of textile quality worldwide is stronger than ever. Even in its earliest version, this remarkable instrument was a big hit with spinning mills, inspiring a new focus on yarn quality.
Neelanjan Banerjee, age 45 years, will be the new Country Representative and Managing Director for India effective September 1, 2018. He will assume these tasks in addition to his current function as head of the Advanced Industrial Intermediates business unit (BU AII) in India.
Monte Carlo from Nahar Group of Companies is launching a new brand outlet in Janakpuri, Delhi.
Dr N N Mahapatra, a well known technocrat, international dyer, speaker, author, and previous President, Colorant Ltd, Ahmedabad has joined as Business Head (Dyes) of Shree Pushkar Chemicals & Fertilizers, Mumbai.
Speciality chemicals company LANXESS will open a new applications development and technical services (AD & TS) laboratory for polyurethane dispersions (PUDs) in Latina, Italy.
Clariant, a world leader in specialty chemicals, has announced first half 2018 sales of CHF 3.389 billion compared to CHF 3.132 billion in the first half of 2017.
FICCI welcomes the recent multi-faceted measures taken by the government to address the problems of the textile industry. Increase in import duty on 76 textile items from 10 to 20 per cent and GST reduction on carpets and handicraft items have given a big relief to domestic textile, carpet and handicraft manufacturers, said Shishir Jaipuria, Chairman, FICCI Textile Committee.
The Goods and Services Tax (GST) Council at its 28th meeting held under the chairmanship of Union minister for railways, coal, finance and corporate affairs Piyush Goyal has recommended for allowing refund of input tax credit (ITC) to fabrics. The refund of accumulated ITC shall be with prospective effect on purchases made after notification is issued.