MARKET & ECONOMY​

The GST council has reduced the tax rate on job work on all textile-related items to five per cent from 18 per cent to ensure that the labour-intensive sector is not adversely impacted under the new tax regime.

Leading industrial thread manufacturer Coats has announced that its revenue has gone up 5 per cent on a CER basis to $740 million for the six months ended June 30, 2017. The company also reported a strong growth of 7 per cent in industrial division across both apparel and footwear (5 per cent), and performance materials (18 per cent).

The Haryana Government’s Skill Development and Industrial Training Department is considering providing skill training to about 1,33,100 youth this fiscal as part of efforts to augment employment opportunities in the State. The sectors include garment and textiles, beauty and wellness, agriculture and retail.

Confusion following the nationwide implementation of GST seems to have impacted sales at the Central Government-run Khadi Gram Udyog outlets in Goa. Until now, all items sold at such outlets were exempted from taxation.

CMYUK, the UK’s leading independent supplier of digital print technology and materials, has announced that it will be offering HP’s full range of latex and flatbed printers, effective August 1, 2017. Under the terms of the agreement, CMYUK will sell and support the full range of range of HP large format flatbed printers and HP Latex printers.