MARKET & ECONOMY​

Exports of the Textile Export Council increased 3 per cent in the period between January to October 2017 to stand at $673 million, as compared with $651 million a year earlier, the council said.

Sanjay K Jain, Chairman, CITI has applauded the Finance Minister and GST Council for bringing in number of reforms in GST law for promoting ease of doing business especially among small businesses

In order to be closer to the customer in the future, Groz-Beckert is moving its Ludhiana office. The new site – Cedar Chambers, 2nd Floor, SCO 12, Sector 32-A, Chandigarh Road, Ludhiana – 141 010 – is now home to Groz-Beckert Asia Pvt Ltd and Groz-Beckert Carding India Pvt Ltd.

Reliance Industries (RIL) is to increase its presence in the polyester space after the launch of its new brand, RElan, through which it will get into co-branding of apparel. The largest manufacturer of polyester in the country, it has an annual capacity of 2 MT, almost half the country’s 4.5 MT.

The All Pakistan Textile Mills Association (APTMA) has said that the government must ensure availability of raw materials to the struggling textile industry as promised under Prime Minister’s Export Package at the earliest).