Policy

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Sri Lanka’s apparel sector targets emerging markets to boost growth

In order to achieve its ambitious target of $8 billion worth of exports by 2025, Sri Lankan apparel sector is looking to first upscale access in emerging markets such as India, China and Brazil. The country will differentiate its products with quality standards and excellent product delivery to capture global demand. T... Read more

Stock management, decentralisation to help brands deal with Brexit

"The British fashion industry, over the past two years and nine months, has been preparing for an unforeseen future. As the UK voted to leave the European Union, a range of fashion and footwear businesses across the UK including manufacturers, brands, agencies and retailers are adopting various measures to mitigate the... Read more

New markets, technological innovations to boost India’s apparel export…

"An analysis of the macro-trends and proprietary data of 100 top apparel exporters in India reveals, export value and shipments from major markets like the UAE have consistently fallen during the year. A report by US-based Drip Capital, a major provider of trade finance for SMEs in the sector, notes demand from key imp... Read more

Strong economy, world class infrastructure to help India deal with GSP…

"The United States Trade Representative (USTR) recently announced, India and Turkey will soon lose their Developing Beneficiary Country (BDC) status under the General System of Preferences (GSP) of the WTO. GSP entails duty free access to less developed or developing countries to aid development. It allows the less dev... Read more

Delay in WTO reforms irks the US

"Dealing a huge blow to the WTO, President Donald Trump in August 2018 threatened to withdraw from the organisation if it fails to upgrade operations to reflect a modern, rapidly changing world. If this threat is executed by the WTO, it would not only impact multilateralism and global cooperation but also the entire in... Read more

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

"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

"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

"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…

"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

"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

"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

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