The government of Bangladesh has slashed tax by 0.5 percent at source for readymade garment (RMG) export to make up for loss incurred during last years political turmoil. Tax on other exports has been reduced by 0.2 percent. The National Board of Revenue (NBR) announced the cuts on Wednesday, a day before the first anniversary of Bangladeshs worst industrial disaster that killed over 1,130 people, mostly RMG workers.
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The industry is witnessing buoyant demand of cotton yarn from export markets and diversion of garmenting orders from Bangladesh due to labour unrest and safety issues.
Established in 2005, Palod Himson Machines Pvt Ltd is engaged in manufacturing, trading, supplying and exporting yarn and fabric processing machine. In the same year, the company also tied up with Earnest Scragg Sons Ltd, UK to manufacture draw texturing machines in India.
Established in 1988, BOWOO has been producing endless felts for different kinds of industrial uses for textiles, steel, tannery, aluminium extrusion, laundry, etc. The company exports its products to over 25 different countries,
China, the world's largest cotton importer, accounting for more than 60 per cent of total raw cotton exports from India, has upset the calculations of Indian cotton sector following a marked fall in demand from that country.
The Federation of Indian Chambers of Commerce and Industry (FICCI) has recently urged the Ministry of Textiles and the Bureau of Indian Standards (BIS) to expedite the formulation of standards in technical textiles for health, safety and environment reasons.
The fourth combined ITMA ASIA CITME exhibition is gearing up for another mega showcase in Shanghai, China. To be held from 16-20 June 2014 at the Shanghai New International Expo Centre,