Cambodia on Friday raised next year's legal minimum wage for workers in its crucial textiles and footwear industry to $190 per month, an increase of 4.4 percent amid pressure from the European Union over its human rights and political record, officials said.
These are very challenging times for the Bangladeshi ready-made garment (RMG) industry. Bangladesh Garment Manufacturers & Exporters Association (BGMEA) recently announced that since February this year, 46 RMG factories have closed down and 25,000 workers have lost their jobs.
Commerce Minister Piyush Goyal also launches steel import monitoring system
Enhanced cover to ensure Forex and Rupee Export Credit
The continuous rise in import of man-made fibres (MMF), especially after the implementation of the goods and services tax (GST), is deeply hurting the domestic textile sector, according to Confederation of Indian Textile Industry (CITI) chairman Sanjay Jain, who observed a substantial post-GST rise in imports of MMF yarn (83 per cent) and apparel (84 per cent).
NEW DELHI: The rupee on Tuesday opened 23 paise down at 71.83 against the US dollar on account of buying in American currency by banks and importers.