Categories: Business

Approval for export of special fabrics used in making masks and PPE

Photo: BUSINESS INSIDER

Govt permits exports of certain non-woven fabrics used for making masks, coveralls

new Delhi. The government has allowed the export of certain types of non-woven fabrics used in the manufacture of masks and personal protection kits (PPE). However, there will be a ban on the export of melton fabrics, closely related to any gram per square meter (GSM).

The Directorate General of Foreign Trade said in a notification on Tuesday that the July 13 notification in respect of clothing exports is revised. Now only the export of Melt Blown (of any GSM standard) fabric will be banned. While the first ban would be to allow free export of non-woven fabrics of 25 to 70 GSM. The export of these garments was banned in view of the Kovid-19 crisis.

Investors' assets increased by Rs 2.71 lakh crore in two days

Investors' assets rose by Rs 2.71 lakh crore in two-day boom in the stock markets. The stock markets have been on the upward trend for the second consecutive day on Tuesday. The Bombay Stock Exchange (BSE) Sensex, based on 30 company shares, closed up 477.54 points, or 1.26 per cent, at 38,528.32 points on Tuesday. The market capitalization of listed companies on the BSE rose by Rs 2,71,541.13 crore to Rs 1,54,11,199.53 crore due to the ongoing trend in the market.

Vinod Nair, head of research at Geojit Financial Services, said that global markets were cautious due to persisting political tensions between the US and China and uncertainty over stimulus packages in the US. Investors in India feel satisfied that the government will increase its expenditure to remove the impact of the lockdown. Along with this, the perception was better in the hope of better monsoon progress and increased activities in the rural economy.

In Tuesday's trading, shares of 1,877 companies have gained in the listed companies on the BSE, while 915 shares declined while there was no change in the shares of 139 companies.

This post was published on August 19, 2020 12:54 pm

Content Team

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