Welspun India Ltd (WIL), part of the $ 3 billion Welspun Group has announced Q1-FY15 results, showing strong growth in revenue and profitability in comparison to the corresponding period last year.
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First, the cotton price in India firmed up slowly in the last six months, and since the international prices were lower, there has been higher import largely coming from African countries into India. It is still continuing,
Spaces Home & Beyond of Welspun has launched a ?Hygro Comfort? range of products in India. The Hygro cotton yarn is a new proprietary spinning technology for yarn and has already been patented internationally.
ColorPlus, a premium menswear brand that offers a wide range of smart casual clothing focusing on product innovation, quality and unique use of colours has been awarded as the most admired mens apparel store at Viviana Mall, Thane. The award was a part of the 1st Retail Excellence Awards given by Vivian Mall, Thane.
The overall sentiment in the industry post the budget is very positive; it is a very business-friendly budget. We would like to congratulate the Finance Minster on putting together the vision of the new government on the critical sectors of the economy.
The budget by new government definitely seems to be a step in the right direction. Allocation of Rs 10,000 crore for promoting entrepreneurship is a surprise but a welcoming initiative.
Reduction in excise duty on man-made staple fibres of Chapter 55 and filament yarns of Chapter 54.
Interest rates to be capped at 7% for exporters. Expansion of interest subvention scheme to the entire MMF textiles sector. Best FTA treatment to SEZ units. Special Additional Duty (SAD) on MMF. 4% SAD on all man-made fibres should be abolished.