The Board of Directors of Rieter Ltd. received additional demands from designated CEO Daniel Lippuner regarding his compensation package, particularly his bonus. Due to irreconcilable differences, Lippuner will not assume the position. Georg Stausberg, CEO of Barmag, will assume the position of
The Centre is working on an integrated tax framework for India’s textile sector to provide greater tax certainty, ease duty-related costs on raw materials and machinery, and improve manufacturers’ competitiveness in global markets, according to a report by The Economic Times. The proposal remains under discussion, with no final framework approved or notified. The
Surat’s textile industry has raised concerns over a sharp increase in yarn prices and delays in Goods and Services Tax (GST) refunds, urging the Centre to intervene as rising costs put pressure on manufacturers and allied segments. Industry representatives raised the issues during a meeting with Union Textiles Minister Giriraj Singh on Friday, warning that […]















