MARKET & ECONOMY​

Oban Fashions Private Limited, a wholly-owned subsidiary of Rupa and Company Limited, has entered into a license agreement with Fruit of the Loom, INC, headquartered in Kentucky, a wholly-owned subsidiary of Berkshire Hathaway.

A.T.E. has joined hands with Quanzhou Jingmei Machine Co., Ltd. to sell “Jingmei” brand circular knitting machines in India (except in Ludhiana city) and Bangladesh effective February 2017.

In India, this season’s 65 per cent of cotton crop has arrived and if the price stability is maintained, it will be win-win for the cotton and textile sectors

Gokaldas Exports will set up four apparel manufacturing units in Andhra Pradesh. The units, which are likely to be ready in four years, are expected to entail an investment of Rs 200 crore.

The Union Textiles Minister Smriti Irani unveiled a Mudra portal recently that will enable banks to deposit financial assistance to handloom weavers in electronic mode and credit the loan directly to their accounts.