For ease of usage, GLOOT will offer online interactive services with an algorithm that will help consumers select the right product and the right size depending on body type.
A three-week nationwide lockdown has left an estimated 300,000 workers in India’s multi-billion dollar garment stuck in factory hostels where rooms are shared by up to a dozen people.
The assurance was given when a delegation of Tirupur Exporters' Association (TEA) and presented a memorandum to commerce and industry minister Suresh Prabhu at New Delhi yesterday.
Garment exporters have been demanding that the duty reimbursement to them be retained at the pre-GST (Goods and Services Tax) drawback rate of 7.5 per cent, amid declining outbound shipments. India's apparel exports declined 39 per cent in value terms in October.
Under the remission of state levies (RoSL), garments and made-ups exporters are entitled to get refunds of levies paid at the state level from the Centre.
It has more than 1,000 garment manufacturing units at present and is well connected with the rest of the country with rail and road network and the nearest airports being Mumbai, Pune and Hyderabad.
Garment business has taken a severe beating during the ongoing wedding season in the wake of demonetisation of high-denomination notes, a textile industry association official said today.
Government's proactive policies, including additional incentives and likely Free Trade Agreement (FTA) with European Union (EU), are likely to drive the growth of the domestic apparel sector, a report said.
The apparel industry has come under pressure to improve factory conditions and workers' rights, particularly after the collapse of the Rana Plaza complex in Bangladesh more than three years ago, when 1,136 garment workers were killed.
Presently, exporters get only duty drawback on the central levies imposed during the process of manufacturing of goods for exports.
The company's board meeting will be held on August 10, 2016 to consider unaudited financial results for the quarter ended June 30, 2016.
The Union Cabinet last week approved a Rs 6,000 crore package for textiles and apparel sector with an aim to create one crore new jobs in three years and attract investments of USD 11 billion with an eye on USD 30 billion in exports.
Garment manufacturer Arvind has revised its FY14 revenue guidance from 20 percent to 24 percent. The company is expecting the H1FY14 sales growth at 29.3 percent.
Shailendra Sancheti, Group CFO, House of Pearl in an interview with CNBC-TV18 spoke about the latest happenings in the company.
Mandhana Industries expects its net profit to rise around 35% to Rs 90 crore in the current fiscal, aided by its retail foray apart from steady demand for its textiles and garments in international markets.
Manish Mandhana has tied-up with Salman Khan’s ‘Being Human’ to set up eight-ten stores this year. He hopes to launch his Rs 800 crore textile, garment retail empire in the international market and make his presence felt on the web too. Young Turks finds out more about his plans and strategies on the road ahead.