ICRA, an Indian independent and professional investment information and credit rating agency, opines that a 12 per cent (lower rate) recommended by the Dr Arvind Subramanian Committee will have a negative impact on the textile sector, especially the cotton value chain, which is currently attracting zero central excise duty (under optional route); unlike the man-made fibre sector, where the fibre attracts excise duty at the manufacturing stage (unlike cotton).
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India is looking beyond the EU and the US in trade. The Indian government plans to examine the feasibility of a free trade agreement (FTA) with Mexico.
India is looking beyond the EU and the US in trade. The Indian government plans to examine the feasibility of a free trade agreement (FTA) with Mexico.
Technosmart, a new revolutionary fabric from Raymond is expected to boost the company’s fortunes with the management targeting a business of Rs 100 crore in the next one year.
The weakness in trade in China, the world’s second-largest economy, continued in July 2016. China’s exports fell again in July by an unexpectedly wide margin. Exports fell by 4.4 per cent to $184.7 billion, of course, a slight improvement over June’s 4.8 per cent contraction, the country’s customs data showed. On the other hand, imports fell 12.5 per cent to $132.4 billion rising from a decline of 8.4 per cent.
According to a NASDAQ Report, cotton for December delivery rose 2.1 per cent to end at 75.83 cents a pound on the ICE Futures U.S. exchange, the highest since June 24, 2014. Cotton has been a star performer this year among commodities.
Export of man-made fibre (MMF) yarns from India shot up by 35.9 per cent year-on-year basis by scaling a new peak at $20.76 million in June this year.