British finance minister Philip Hammond’s announcement in his budget that the move from retail price index (RPI) to consumer price index (CPI) indexation will be brought forward by two years to 2018 is the result of a campaign led by the British Retail Consortium (BRC), CEO Helen Dickinson has said. The step will attract investment in retail, she said. 

The Nigeria Institute of Social and Economic Research (NISER) has advised the government to be strategic in its ties with the World Trade Organisation (WTO) as the latter’s policies have not revamped the nation’s textile sector. NISER attributed the fall in the number of modern textile firms partly to inconsistent government policies and the WTO agreement. 

Chinese e-commerce firm JD.com has invested $44 million in Tiki.vn, a Vietnamese e-commerce company founded in 2010, to serve the latter’s expansion plans, which includes training human resources, optimising transport to and from its warehouses and to conduct a study on promoting the Tikinow service, which is the company’s fastest click-to-delivery service. 

HCM CITY – There is a lot of potential for co-operation between Việt Nam and India in the textile and garment sector, a Việt Nam –India business meeting heard in HCM City on Thursday.

Karl Mayer, Germany’s leading textile machine developer, has launched the new high-speed jacquard raschel machine, Rascheltronic, to produce stable upholstery fabrics. The textile companies are using the Rascheltronic machine to produce stretch and non-stretch textiles with functional zones, especially making it a hit among manufacturers of home textiles. 

Indian apparel exporters want a higher reimbursement of central and state levies to stall decline in exports as they are losing competitiveness by around 9 per cent in export markets after the rollout of goods and services tax (GST). The export promotion benefits earlier were to the tune of 11.93 per cent while the same now stands at 3 per cent.