MARKET & ECONOMY​

The silk factory at Rajbagh in Srinagar, Jammu & Kashmir, will receive Rs 23 crore by the World Bank for its revival and restoration. The factory was damaged due to the devastating floods of 2014.

The six-nation East African Community (EAC) comprising Burundi, Kenya, Rwanda, South Sudan, Tanzania and Uganda have agreed to a three-year tax waiver of duties and value-added tax (VAT) on textile raw materials, fabrics and accessories that are not available locally.

The organisers of the upcoming Apparel Textile Sourcing Canada (ATSC) show, the premier international apparel and textile sourcing event in Canada, are set to unveil the latest innovations in smart apparel and textiles on June 14, 2017.

At the 2017 Autumn Edition of Intertextile Shanghai Apparel Fabrics, the most influential industry trade event of the year, is on track and has already exceeded last year’s sourcing options, with around 80 per cent of the available exhibition space already booked.

M Senthilkumar, Chairman, The Southern India Mills’ Association (SIMA) has highly appreciated and thanked the concerted and constant efforts made by Union Textile Minister, Smriti Zubin Irani for fully understanding the needs of the industry and persuading the Finance Minister and Prime Minister to classify the entire cotton textile value chain under 5 per cent GST rate.