India

A delegation from India’s Apparel Export Promotion Council (AEPC) recently conveyed concerns expressed by Indian garment exporters over the new Goods and Services Tax scheme (GST). AEPC leaders said that the GST is “burdensome” and “stressful” to many small and medium enterprises due to increases in working capital and higher transaction costs, among other factors. The group notes that higher business costs in India could make the country less competitive compared to other Asian nations like Bangladesh and Vietnam. (Fibre2Fashion)
 
A major fire broke out at a multistory hosiery production unit in Ludhiana during the early morning hours of October 24. Firefighters say it took them over 10 hours to douse the flames and while the building suffered severe structural damage, no major injuries have been reported. The cause of the blaze remains under investigation. (Hindustan Times)