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Rise of non-traditional markets fuels apparel exports

Rise of non-traditional markets fuels apparel exports

"As per Export Promotion Bureau (EPB) data, in the July-December period of the current FY2018-19, Bangladesh’s apparel shipments to new export destinations like Australia, Brazil, Chile, China, India, Japan, Korea, Mexico, Russia, South Africa and Turkey posted a robust growth of 36.21 per cent in the first half ... Read more

Changing dynamics of global fashion market

Changing dynamics of global fashion market

"The axes of global trade are shifting, amid a surge in commerce between emerging economies in the global South. The dynamics may lead to a rethinking of sourcing and pricing strategies in the year ahead. That’s why “Trade 2.0” is one of the 10 big trends to watch out for in 2019 reveals the McKinsey&... Read more

Vietnam-EU FTA to create history after seven years of wait

Vietnam-EU FTA to create history after seven years of wait

"The European Union and Vietnam are moving closer to clinching the Europe-Vietnam Free Trade Agreement (EVFTA) after nearly seven years of negotiations. The long-sought deal will boost Vietnam’s economic growth by nearly 8 per cent by 2025. As per the terms of the deal, Vietnam’s ruling Communist Party will... Read more

British brands tackle Brexit with diversification

British brands tackle Brexit with diversification

"With Brexit on a knife edge, many designers and small-time manufacturers doubt whether the bi-annual catwalk event London Fashion Week holds anything for them. A slowdown in customer spending has triggered cautiousness in the rag trade. Luxury retailer Harrods is increasing its spring/summer stock to protect the expos... Read more

Interim Budget 2019-20: Outlay for textile sector reduced, optimism ab…

Interim Budget 2019-20: Outlay for textile sector reduced, optimism about higher IT exemptions

"Textile industry welcomed the Interim Budget 2019-20 announced by the Finance Minister, Piyush Goyal. Sanjay Jain, Chairman, CITI feels the budget will give a major impetus to the textile and apparel consumption in India by increasing the purchasing power of middle class and farmers. He feels, the announcements highli... Read more

India needs the right approach to guarantee maximum benefits from RCEP

India needs the right approach to guarantee maximum benefits from RCEP

"Despite many rounds of negotiations, the suspense regarding India’s participation in the proposed 16-member mega-trade deal, Regional Comprehensive Economic Partnership (RCEP) continues. The Indian government has engaged three consultants: ICRIER, the Centre for Regional Trade housed in the Indian Institute of F... Read more

CPTPP opens up new markets for members as US looks to join back

CPTPP opens up new markets for members as US looks to join back

"The anticipated impact of the CPTPP will be immense, as slashed tariffs encourage significant shifts in global supply chains. Its high-standard provisions on the digital economy, investment, financial services, labor and the environment establish new "rules of the road" that will have a broad country-specific and coll... Read more

Global Britain vision to focus on India-UK relationship post Brexit

Global Britain vision to focus on India-UK relationship post Brexit

"However, the present India-UK trade relationship does not look particularly special. In 2016, the UK was the fifth-largest export destination for Indian exports, behind the USA, the UAE, Hong Kong and China. It accounted for only 3.3 percent of Indian exports, valued at $8.66 billion (€7.6 billion). This is minis... Read more

Government schemes boost textile growth, imports cause concern: CITI

Government schemes boost textile growth, imports cause concern: CITI

"There is positivity in the entire textile value chain thanks to the pragmatic approach adopted by the government, says Confederation of Indian Textile Industry (CITI) has said. However, rising imports of textile products remains a key area of worry. As per Sanjay Jain, Chairman, CITI, the RBI Financial Stability Repor... Read more

Bangladesh: BTMA makes robust plans for future growth

Bangladesh: BTMA makes robust plans for future growth

"Mohammad Ali Khokon was recently elected president of Bangladesh Textile Manufacturers Association (BTMA) for a two-year term (2019-2020). As the President of BTMA, Khokon plans to work in the woven and knit sectors by filling demand gaps. Besides pushing the government to announce weaving as a separate sector and pro... Read more

Additional US tariffs on China to make production expensive

Additional US tariffs on China to make production expensive

"While the trade truce between the US and China gave brands and retailers some time to plan their counteractions if President Trump levies tariffs on the remaining goods imported from China, it also extended the uncertainty over the future. Every time a new set of tariffs are announced, soft goods brands and retailers ... Read more

Dependence on China fickle, India needs to formulate its own strategie…

Dependence on China fickle, India needs to formulate its own strategies

"Textile industry in China maintained a moderate rise in the first quarter of 2016. Textile exports grew by 22.16 per cent reaching EUR 24.6 billion. Exports to the European Union and the United States declined to 9.7 per cent as the set quota limits reached the sum of EUR 7.3 billion, 47 percentage points lower than t... Read more

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Pakistan: PTEA lauds liquidation of outstanding refunds

Pakistan Textile Exporters Association (PTEA) lauded the government’s move for liquidatio... Read more

Weavers hit by reduced ATUFS allocation in Interim Budget

Outlays under the Amended Technology Upgradation Funds Scheme (ATUFS) have been reduced in the ... Read more

India: Inverted duty structure boosts synthetic fiber imports

The inverted duty structure in India makes it easier for textile industry to import synthetic t... Read more

ASEAN, EU to enhance bilateral cooperation

ASEAN and the EU confirmed their commitment to enhance bilateral cooperation at the 22nd ASEAN-... Read more

Mixed reactions for the interim budget from Surat textile industry

The interim budget garnered mixed response from textile Surat industry. While the one-time tax ... Read more

Pakistan: Government grants Rs 29 bn bailout package to textile industry

The Pakistan Tehreek-e-Insaf (PTI) government has given another bailout package worth Rs29 bill... Read more

Interim Budget 2019: Mixed reactions from Coimbatore textile belt

Response in the western region of Coimbatore to the Interim budget 2019 was a mix of elation an... Read more

India may relax 30 per cent sourcing rule for FDI in single brand retail

India may relax the 30 per cent local sourcing norm in the single-brand retail sector. The aim ... Read more

Pakistan enhances synthetic filament capacity

Pakistan is upgrading its filament production capacity. The aim is to ensure availability of th... Read more

Pakistan withdraws duties on cotton imports

Gas and electricity tariffs have been rationalised for the export-focused industry in an attem... Read more

India: Gujarat government announces scheme for the textile sector

The Gujarat government has announced a support scheme spanning the entire textile value chain. ... Read more

FIEO push for fiscal, non-fiscal incentives for exporters in Gujarat

The Federation of Indian Exporters Organisations (FIEO) officials are pushing for fiscal and no... Read more

Government includes merchant exporters under interest equalisation scheme

The government has now included merchant exporters under the interest equalisation scheme for p... Read more

Canada imports from Vietnam up five per cent

Vietnam’s exports to Canada were up 5.2 per cent in 2018. Earnings from textile, garment,... Read more

US, EU top export destinations for India

As revealed the by the Textile Ministry, the US is the top export destination for apparel made ... Read more

Vietnam should rationalize policy to ride on new FDI wave

The new wave of FDI is a chance for Vietnam to deepen its industrialisation by encouraging the ... Read more

China exports textiles to India through Bangladesh to evade import tax

China is exporting textiles to India through Bangladesh to evade import tax, undermining New De... Read more

India creates a separate cell to promote small enterprises’ exports

An export promotion cell has been created to create a sustainable ecosystem for micro, small an... Read more

China seeks talks with India to push RCEA

China has sought talks with India to allay concerns on the Regional Comprehensive Economic Agre... Read more

Bangladesh exports to EU faces challenge

Bangladesh’s export receipts in fiscal 2018 were up 5.81 percent from a year earlier. But... Read more

Indian exporters hope for drawback hike

Indian apparel exporters are looking forward to a hike in duty drawback of about four to 4.5 pe... Read more

Pakistan aims at PTA with Tunisia

Pakistan and Tunisia are working on a Preferential Trade Agreement.The two countries share warm... Read more

Pakistan textile units await tax refunds

The textile industry in Pakistan is facing a serious liquidity crunch. The main problem is: sal... Read more

Pakistan: PRGMEA urges government to rationalise duty structure

PRGMEA chairman Mubassar Naseer Butt has urged the adviser to Prime Minister on Commerce, Texti... Read more

India prepares export package

India is preparing a package for exporters. There have been challenges for the export sector ov... Read more

India expects to create 17 million additional workforce in textile sector b…

The central government expects the country's textiles sector, which currently employs over 45 m... Read more

Bangladesh to cut source tax on RMG export earnings

The Bangladesh government has decided to reduce the rate of source tax on RMG export earnings b... Read more

US alters date for tariff hike on $200 billion Chinese goods

The US Trade Representative’s (USTR) officially changed the scheduled date of tariff hike... Read more

Tackling deep-rooted concerns of Indian textile industry to boost growth

Tackling deep-rooted concerns of Indian textile industry to boost growth

The government, in order to support the industry, has increased import duty on several textile ... Read more

India: Simplified GST return forms to be rolled out from Apr 1

India’s new simplified return forms for goods and services tax (GST) will be rolled out f... Read more

Apparel exporters in North India request for a review of duty drawback rate…

With readymade garment exporters losing competitiveness due to lower rates of export incentive ... Read more

Bangladesh waivers VAT for garment units

Bangladesh has given more tax waiver to encourage garment exports. Value added tax or VAT has b... Read more

Tirupur knitwear makers disappointed with duty reduction on RMG

Knitwear makers in Tirupur expressed disappointment over the reduction of duty drawback rates o... Read more

Government announces revised duty drawback rates

The Union government has announced revised duty drawback rates. These All Industry Rates of Dut... Read more

India: CBIC slashes duty drawback rates for cotton and polyester

The Central Board of Indirect Taxes and Customs (CBIC) has slashed duty drawback rates from 2 t... Read more

India: Texprocil urges government to disburse Rs 3,000 crore TUFS funds

The Cotton Textiles Export Promotion Council (Texprocil) has urged the government to disburse t... Read more

Loss of EBA may affect Cambodia’s apparel industry

Cambodia has strong ties to the EU, accounting for more than 40 per cent of the former’s ... Read more

India: Gujarat’s new textile policy offers huge incentives

Gujarat’s new textile policy has huge incentives in taxes. The policy aims at making Guja... Read more

India to rate industrial parks

A rating system will be developed for industrial parks in India. This is expected to raise comp... Read more

ATUFS may become simpler

Norms under the Amended Technology Funds Scheme (ATUFS) may be simplified for players in textil... Read more

Garment industry welcomes PM’s package for the MSME sector

The garment industry has welcomed the package announced by the Centre for the MSME sector as gr... Read more

SRTEPC requests 6 per cent rebate for yarn and fabric exports

The Synthetic & Rayon Textiles Export Promotion Council (SRTEPC) has requested the Union mi... Read more

EU to re-impose tariffs on Myanmar and Cambodia

The European Union is planning to re-impose tariffs on imports from Myanmar and Cambodia which ... Read more

US tariffs on imports to impact American companies

US tariffs on imports from China will impact companies in the US, and consumers too. Since it i... Read more

India: Weavers accuse TRU of ignoring ITC

Industrialists in the powerloom weaving sector have accused the Tax Research Unit (TRU) under t... Read more

India working on strategies to double exports by 2025

India plans to double exports by 2025. In view of the challenges like uncertainty of global tra... Read more

Gap sales up eight per cent

For Q2 Gap net sales increased eight per cent compared with last year. Comparable sales increas... Read more

Trade war set to continue

China and the US are levying tariffs on each other’s goods.The US has imposed duties on C... Read more

Indonesian association urges govt to reduce rate of import growth

According to Indonesia Filament Fiber and Yarn Producers Association (APSyFi), not a single pol... Read more

Recovery in sight for Indian textile industry

The textile sector in India is showing signs of recovery.The stressed advance ratio of the text... Read more

Philippines hopes for FTA with US

The textile and the garment industry in the Philippines is hoping the free trade deal with the ... Read more