In order to meet the demand of the non-cotton fashion industry, the textile millers in Bangladesh have demanded a withdrawal of value added tax (VAT) and import duty on all kinds of manmade fibres (MMF).
EFI Reggiani celebrated 75 years of heritage in 2021 for innovation and glamour in the textile world. During the celebration, the brand revealed the launch of three new, state-of-the-art digital textile printers.
As the global demand is picking up and global players are diversifying their supply chain, it is expected that Indian exports will show a gradual improvement in the next 2 years, says India Ratings & Research (Ind-Ra).
According to media reports, the famous fashion brand Ritu Kumar will give a 30% stake of its private equity firm Everstone Capital to Reliance brands which is the premium-to-luxury brands operator of Reliance Retail.
Lux Industries Limited has announced Covid-19 Vaccination for all its employees free of cost. The company plans to tie up with some leading hospitals and vaccination centres for off-premise vaccination.
The $15 billion garment export sector faced a big blow as many states in India announced lockdown and restrictions on industries due to the Covid-19 pandemic.
The government is aiming at notifying the production-linked incentive (PLI) scheme, that was announced to boost domestic manufacturing, for sectors like auto components, steel, and textiles.