Coronavirus impact China''s trade: India to benefit in apparel sector: export body official
Coimbatore: India is expected to be a preferred market for sourcing of apparel products for buyers from the US, UK Europe and Canada as trade with China had been affected due to the novel coronavirus epidemic, Apparel Export Promotion Council Chairman A.Shakivel said on Wednesday.
Countries which had been depending on China have learnt a lesson they should have an alternative market for sourcing and India was expected to be their preferred destination since the Dragon nation's trade had been hit hard, he said.
Besides, UK's exit from the European Union would also give an edge to India, he said in a release summing up the three-day 47th edition of India Knit Fair, which concluded at nearby hosiery town of Tirupur.
Shaktivel, who is also the Chairman of the fair, said it was organised in the backdrop of current economic scenario.
Tamil Nadu Handlooms and Textiles Director M Karunakaran, who was present on the inaugural day, said the state's Textile Policy would support the growth of knitting and textile sector.
The fair featured summer and winter collections in knitwear for all age groups, including infants, along with cotton, polyester, polycotton, Polyester-viscose blended fabric apparels, Shaktivel said.
Specially made garments made from banana cotton, blend with 80 per cent cotton and 20 per cent banana fibre, attracted visitors.
As many as 31 buyers and 142 buying house and agents from different countries visited the stalls during the fair which was expected to generate business worth Rs.300 crore, he said.
A total of 39 leading exporters from Tiruppur, Coimbatore, Chennai, and Kolkata participated and displayed their products.
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ED raids Kolkata Police deputy commissioner, businessman in PMLA probe
Kolkata (PTI): The Enforcement Directorate on Sunday conducted raids at the premises of Kolkata Police Deputy Commissioner Shantanu Sinha Biswas and a local businessman as part of a money laundering probe against an alleged criminal and his linked syndicate in the poll-bound state, officials said.
Two premises of Biswas, including his residence in Ballygunge area and one location of the businessman named Joy Kamdar, Managing Director of a company named Sun Enterprise, have been raided under the provisions of the Prevention of Money Laundering Act (PMLA).
Kamdar has been taken by the officials to the local ED office for questioning. Biswas, chief coordinator and nodal officer of the West Bengal and Kolkata Police welfare committee, was not present at his premises, they said.
The action is linked to a money laundering case against an alleged local criminal named Biswajit Podder alias Sona Pappu, who is booked in multiple cases on charges of attempted murder and extortion.
The federal probe agency had conducted the first round of searches in this case on April 1.
The ED had then seized cash of Rs 1.47 crore apart from gold jewellery and silver valued at Rs 67.64 lakh and a country-made revolver from some premises that were searched.
The probe stems from a Kolkata Police FIR against against Podder for his alleged involvement in rioting, attempt to murder, criminal conspiracy and Arms Act violations. The accused, including Podder, were engaged in organised criminal syndicate activities in the state of West Bengal and generated funds illegally by way of syndicate operations, the ED said in a statement on April 9.
Podder is also wanted by the police in a case of violence in Kankulia road near Golpark of Kolkata and is currently on the run.
The ED has issued summons to Podder but he has failed to join the investigation so far, according to the agency.
West Bengal will have a two phase poll on April 23 and April 29.
