Wholesale price-based inflation rate declined by (-) 3.48 per cent in May, a 3-year low, on easing prices of food, fuel and manufactured items. The wholesale price index (WPI) based inflation rate has been in the negative territory for the second straight month. In April it was (-) 0.92 per cent. In May, 2022 WPI inflation was at 16.63 per cent. The May, 2023 data print of (-) 3.48 per cent...
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Govt will work to further bring down inflation: Nirmala Sitharaman in Lok Sabha
-PTI/ The Telegraph Experts say a high base of last year and some easing in food prices also worked in favour of the November 2022 wholesale price index The wholesale price-based inflation fell to a 21-month low of 5.85 per cent in November as prices of food, fuel and manufactured items softened. The WPI (wholesale price index) based inflation has been on a declining trend since May and came down to single digit...
More »Get these wrinkles out of the South Asian textile story -Syed Munir Khasru
-The Hindu Ensuring government support for financial incentives, upgrading technologies and reskilling labour are key challenges South Asia became a major player in the global textiles and clothing market with the onset of the third wave of global production. Bangladesh joined the league in the 1980s, owing to the outbreak of the civil war in Sri Lanka. Supportive industrial policy was an instrumental factor in the 1990s, with zero duty on raw...
More »Demand for lower cotton prices is not justified -A Narayanamoorthy
-The Hindu Business Line The textile industry’s vociferous demands will hit cotton farmers, who are facing the brunt of rising costs The recent rise in the price of cotton yarn seems to have hit the textile manufacturers hard, so, a large section of participants involved in value chain products of cotton has called on the government to take measures to arrest the price rise. While demanding higher taxes on cotton exports, they have...
More »Government announces Rs.50,000 crore overhaul of export tax refund scheme - Gireesh Chandra Prasad and Asit Ranjan Mishra
-Livemint.com * Scheme for remission of duties of taxes on export products will replace Merchandise Exports from India Scheme (MEIS) scheme, said FM * The new scheme which will benefit all products including textiles is more beneficial to the industry, the minister said at a briefing Finance minister Nirmala Sitharaman on Saturday announced a slew of measures including a new attractive scheme to refund the duties and taxes on exports that will replace...
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