With the falling exports in Bangladesh, the Exporters Association of Bangladesh (EAB) has appealed the government to reduce the corporate tax to 10 per cent on export-oriented readymade garments (RMG), home textile and terry towel sectors. At present, the corporate tax on RMG is 20 per cent while on home textile and terry towel is 15 per cent.

          Indian exports are on upward trend in last few months as the country ended up with export of $275 billion in last fiscal, said GK Gupta, president, Federation of Indian Export Organisation (FIEO). The country could achieve a new milestone of $325 billion in 2017-18 and Gupta has suggested providing additional support to top 200 products of global imports.

          About 6-7.5 million retail jobs in the US are likely to be automated out of existence in the coming years, leaving a large portion of the retail workforce, mostly women and working poor, at risk of becoming 'stranded workers', says a recent report. Retail cashiers are at highest risk for automation technologies, and women hold 73 per cent of these positions.

          Following a few weeks of uncertainty and mixed sentiment, the Australian wool auction market this week finally relented to a weakening price versus demand scenario. Prices for all types and descriptions across the Merino offering faltered somewhat and falls of varying degrees occurred, the Australian Wool Innovation said in its Wool Market weekly report.

          There's a new eco-friendly fibre on the anvil—Austrian speciality fibre-maker Lenzing will soon be launching EcoVero, a viscose with the lowest environmental impact in the industry. This, Lenzing believes, will set a new industry-wide benchmark in the sustainability of viscose fibres.

          The ministry of textiles has taken multiple steps to promote the wool sector in India in the last three years, according to the latest achievements report of the ministry. A total grant of Rs 33.98 crore has been released under pashmina Wool Development Scheme (PWDS) and pashmina Promotion Programme in the last three years, says the report.