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).
Ludhiana: City exporters, particularly those dealing in garments, have heaved a sigh of relief after the announcements by Union finance minister Nirmala Seetharaman.
Indian industry bodies have welcomed the government’s ₹70,000-crore package for stressed exporters and the real estate sector, saying the announcements are in line with expectations and the decisive and comprehensive measures will boost the economy in near-term.
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Workers at the TNG Thái Nguyên Investment and Trading JSC produce garments for export. Việt Nam’s textile export value rose almost 7 per cent in eight months of this year. VNA/VNS Photo Hoàng Nguyên
India's annual rate of inflation, based on monthly wholesale price index (WPI), for August 2019, remained unchanged at 1.08 compared to July 2019.