Policy

Global contents also translated in Chinese

India-Bangladesh rupee trade a mixed bag for both sides, say experts

As India forges ahead towards becoming the world’s fifth largest economy it is ambitious about making it’s the rupee a global trading currency. With the aim to decrease US dollar dependency, so far 18 countries have been allowed by the Reserve Bank of India to trade in Indian rupees and Ba... Read more

Despite interventions UK’s textile strategy yet to take off

UK, the fourth largest producer of textile waste, has been losing its grip from being a nation that was leading in delivering key interventions through governmental policies for the fashion sector. On June 8, 2022, erstwhile Prime Minister Boris Johnson had expressed his support for the new 10-year Fashion Industry... Read more

UN’s playbook recommends end of excessive consumerism in fashion

In the real world, despite pledges and commitments, the fashion industry continues its various strategies and tactics to sell more. Social influencers are working overtime recommending ‘look of the day’ and ‘look of the occasion’. Digital engagements have found newer avenues like the Metaver... Read more

With AGOA ending in 2025, a new act should focus on strengthening regi…

With 2025 its date of expiry drawing close, the African Growth and Opportunity Act (AGOA) that gives duty-free benefits to goods of designated sub-Saharan African (SSA) countries, is now set for a change for better or worse. The AGOA legislation was approved by the US Congress in May 2000 and signed by President Cl... Read more

European Parliament’s takes the lead with its new sustainability norms…

The Environment Committee of the European Parliament has made its stance clear – the time has arrived for the model of ‘take, make, dispose’ that harms our planet, our health and our economy -- to end it once and for all. Well over a year ago, the committee had put forward a proposal for a regulat... Read more

Euratex wants European Parliament to take a realistic view of issues f…

The European textile sector is miffed with the European Parliament as it’s acknowledging the efforts put in by the sector to be aligned to EU Strategy for Sustainability and Circular Textiles. When European Union law makers adopted the report on the strategy published in Brussels on June 1, the general feedba... Read more

China’s stockpiling move fails to boost cotton prices

To boost recovery of China’s cotton market, Beijing aims to buy half a million tons of Xinjiang cotton for state reserves. China’s cotton market has been on decline ever since US announced ban on cotton made in Xinjiang. Beijing has announced plans to buy between 300,000 and 500,000 tons of Xinjiang cott... Read more

Focus on priority sectors can help Nepal achieve LDC targets

Despite being confronted by unfavorable conditions, Nepal, has made significant socio-economic progress in the last few years. However, it has demonstrated an absurd growth curve where below average economic growth is being supported by a sharp reduction in poverty. As per a report by Himalaya Times, in the l... Read more

A new year’s gift to the industry as government defers GST hike on tex…

Smiles are back on the faces of textile industry leaders as the GST Council has unanimously deferred its proposed hike to GST rates on textiles. The GST rate hike on textiles from 5 to 12 per cent was to come into effect from January 1. The decision to defer the hike was made at the 46th meeting of the GST Co... Read more

Brand accountability calls for collaborative efforts by suppliers

For decades, suppliers have been made a scapegoat by fashion companies and the same is true during COVID-19 as well. Taking undue advantage of the ongoing pandemic, companies have either been exploiting the loopholes in their contracts to cancel orders or voluntarily changing the terms of supplier agree... Read more

Pakistan eyes $28 billion textile exports by 2025

"The recently approved Textile Policy 2020-25 of Pakistan sets an ambitious target of increasing the country’s textile exports to $28 billion by 2025. To achieve this target, the country aims to boost cotton production from nine million bales to 20 million bales within five years. It also aims to improve the qual... Read more

Despite FDI relaxations, single brand retailers choose local partners …

"The Department for Promotion of Industry and Internal Trade (DPIIT) recently clarified that single brand retailers, owned by foreign companies, can fulfill their local sourcing requirements by procuring goods produced in units based in special economic zones (SEZs). It further clarified these goods to be sourced by th... Read more

Vu Ba Phu, Director General, Vietnam Trade Promotion Agency (Vietrade), on the new trade show VIATT and its association with Messe Frankfurt

“The Vietnam Trade Promotion Agency (Vietrade) recognized the need for an international trade exhibition in Vietnam and approached Messe Frankfurt to organize it. The event, Vietnam International Trade Fair for Apparel, Textiles and Textile Technologies (VIATT) aims to strengthen trade relations between China and Vietnam, as well as other countries in the region. It is expected to be an annual event and will showcase a wide range of products, including home interiors, textiles, garments, fabrics, and garment technology. The goal is to create a collaborative environment rather than a competitive one, with the aim of benefiting the entire Asian textile industry”.

Alexandro Barberis Canonico President Milano Unica Alexandro Barberis Canonico, President, Milano Unica, on impact of the pandemic on the textile industry and the return of Milano Unica to the Intertextile Shanghai fair.

“Market is slowly recovering and luxury products are still performing well. Italian manufacturers are focusing on niche markets and special fibers, such as cashmere and vicuna. Creativity and sustainability are important factors for Italian manufacturers, who are investing in the Chinese market. The exhibition response has been positive, with better figures than in 2019. The trends in the Chinese market are about functional fabrics and the use of natural fibers”.

Yuko Watanabe, Director International Communication, JFWO on business scenario in japan

“Japanese domestic market, particularly in the department store and textile industries, is facing challenges due to the pandemic and rising costs. Although, online shopping is growing but offline stores are struggling. The weak yen has made exporting raw materials to China and other countries less profitable, while importing goods has become expensive. The tourism industry has also been affected, with only wealthy tourists able to travel to Japan, international tourism can help the domestic market to some extent, but it is not enough to fully recover”.

Kim Bu-Heung, General Director of Korea Textile Center, on business with Chinese market

“China had been a significant investment destination for Korean enterprises. However, the current low demand in China has translated into reduced exports and investment returns. This underscores the shift in China's textile landscape and its impact on neighbouring countries”.

Joshua Lane, Regional Director - Asia at Holland & Sherry, on Intertextile and the challenges brought about by the COVID-19 pandemic and the subsequent changes in market dynamics.

The Intertextile provided a valuable opportunity to assess market conditions, observe competitors, and gauge the recovery of the Chinese economy in the textile sector. 2023 has been marked by a more subdued global textile market, with China experiencing a slowdown, but not entered a recession but was gradually tapering off its growth trajectory. For the textile sector, however, globally the trend was still upward, with a growing demand for custom-made clothing from reputable European brands.

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