MARKET & ECONOMY​

Rieter Award Week 2017 was held recently at the Rieter Headquarters in Winterthur (Switzerland). For around three decades, the Rieter Award has been a firm component of the company’s programme to encourage its trainees – and is an institution in the textile industry.

Huntsman International India Pvt Ltd won the Procurement Excellence Award 2017. Huntsman was awarded this honour in the ‘Best Procurement Transformation’ category at the 5th Procurement Excellence Awards. The award celebrates excellence in best practices across the industry in the field of procurement.

Huntsman Textile Effects, a provider of high quality dyes and chemicals, has unveiled TERATOP XKS HL reactive inks that deliver outstanding weather-fastness for digital printing of polyester fibres. TERATOP XKS HL inks help mills produce technical textiles with the highest colour-fastness performance for automotive, outdoor furnishings, and home textiles.

The man-made fibres (MMF) and yarns were slotted under 18 per cent GST rate while the fabrics were slotted under 5 per cent GST slab with a condition that no refund of Input Tax Credit would be allowed at fabric stage.