The arrests followed intelligence inputs and a subsequent investigation, which indicated that the suspects had allegedly used forged Aadhaar cards to conceal their identities and secure employment in the Tirupur garment industry.
Business News
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Industry sources have said that Tamil Nadu’s textile sector is finding it increasingly difficult to remain cost-competitive compared with other States.
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The offer comprises a fresh issue of up to 54.9 lakh equity shares, equivalent to an aggregate size of approximately Rs. 69.7 crore (US $ 7.68 million), entirely aimed at raising capital for expansion.
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Industry officials said exporters are in active discussions with US buyers to maximise consignments within the permitted timeframe and are working through holidays to expedite dispatches.
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Finance and Planning Minister, Amir Khosru Mahmud Chowdhury acknowledged the significant challenges facing the economy, including indicators of rising poverty, declining investment and shrinking employment.
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Trade representatives also called for adjustments to letter-of-credit (LC) margins to sustainable levels and urged the government to take effective steps to stabilise the foreign exchange market.
