India’s textile and apparel industry is facing strong headwinds as key competitors such as Bangladesh and Vietnam are given preferred access in India’s biggest textile market — the European Union.
The rupee on Thursday opened seven paise higher at 70.97 against the US dollar. The domestic unit on Wednesday dipped three paise to close at 71.04 amid rising demand for the greenback vis-a-vis other currencies overseas, even as crude oil prices eased.
Tirupur: K Vijayakarthikeyan took charge as the new Tirupur collector on Wednesday. He was earlier working as the director of the Tamil Nadu Institute of Urban Affairs. Before that, he was the Coimbatore corporation commissioner.
MSME minister Nitin Gadkari presided over a brainstorming session in New Delhi, to discuss the modalities and way forward in this regard.
Prime Minister Narendra Modi on Wednesday said that the growth story of the Indian economy has been built on four pillars of Democracy, Demography, Demand and Decisiveness.
State-owned Indian Bank said it has decided to link all new floating rate retail as well as MSME loans with the Reserve Bank of India's (RBI) repo rate, effective October 1.