Indian manufacturersare hopeful of carving out a bigger share of the fabric market in Bangladesh as that country’s strength in the global readymade garment supply chain
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The R|Elan Millenial Maharanis collection, the outcome of a collaboration between the new age fabric R|Elan and one of India’s leading designers, Nachiket Barve, was showcased at a glittering event – Source India 2018, in Surat very recently.
In the budget for FY19, the Bangladesh government had set the corporate tax at 15 per cent for readymade garment (RMG) manufacturers and at 12 per cent for owners of green factories.
The domestic demand for textiles is likely to remain robust from end-user segments, supported by a strong rise in private consumption expenditure during the rest of FY19.
Due to the allotment of projects in construction and housing areas to Turkish companies in India, the scope for the technical textiles, and their machines is automatically generated, whereby the Government shall take an initiatives in the application/consumption of technical textiles in these projects, while signing agreements for these projects.
A recent exhibition on home products revealed how the home textile industry is scoring over other products. Home textiles occupied over 50 per cent of the space in the home product exhibition.