Despite opening of markets in the western countries, India’s export of readymade garments (RMG) declined by 15 per cent in November 2023.

As per a report by the Indian Brand Equity Foundation (IBEF), India’s RMG exports declined from $10.36 billion in April-November 2022 to $8.84 billion in the corresponding months of 2023. Export of jute manufacturing, including floor covering, reduced to $234 million in April-November 2023 from $303 million in corresponding period last fiscal in same period. This also led to the ballooning of India’s trade deficit by 23 per cent Y-o-Y and 24 per cent M-o-M in November 2023.   

Export of handicrafts items dropped by 10 per cent to $1.04 billion during the first eight months of the current fiscal from $1.16 billion in April-November 2022.   

As per the IBEF report, growing a CAGR of 14.59 per cent, the Indian textile and apparel market size is expected to reach $387.3 billion by 2028 from $172.3 billion in 2022. The industry contributes 2 per cent to India’s GDP annually.   

Second largest employer after agriculture, the Indian textile industry provides direct employment to 45 million people and 100 million people in the allied sector. A few of the top textile and clothing manufacturing states in country include Andhra Pradesh, Telangana, Haryana, Jharkhand and Gujarat.

One of Bangladesh’s largest groups in the textile and apparel sector, Badsha Group of Industries, plans to increase its export earnings to $700 a year by setting up a state-of-art readymade garment unit at Madhabpur in Habiganj.

Badsha Mia, Founder, says, the unit would start production in 2024 and create employment for at least 15,000 people.

The Badusha Group is also setting up the denim garment unit with a cost Tk 800 crore and a spinning mill to ensure available supply of fabrics to the garment manufacturing unit.

Starting its operations in 1976, the Badusha Group set up a denim fabrics manufacturing unit namely Pioneer Denim on 150 acre in 2017.

Bangladesh is the highest exporter of denims to the global market with exports to the EU totaling $783 million during January-August, as per data from Eurostat.

Data from the US Department of Commerce’s Office of Textile and Apparel shows, Bangladesh’s denim exports to the US reached $434 million in the first eight months of 2023.

In the dynamic landscape of 2023, fashion enterprises across Asia, the Middle East, Latin America, Eastern Europe, and Africa found themselves strategically navigating complexities amidst persistent global uncertainties. Coined as "friendshoring," fashion brands sought to fortify their nearshoring strategies, mitigating supply chain risks amid escalating geopolitical tensions.

BRICS+ : The untapped fashion frontier, redrawing the fashion map

The BRICS alliance, now representing a formidable more than 45% of the global population, boldly challenges the demographic and economic dominance of the G7. Convened in Moscow from November 28 to December 2, 2023, the BRICS+ Fashion Summit became a nexus for 130 brands from BRICS nations and emerging markets. This international platform aimed to redefine the fashion landscape, providing emerging designers with access to global markets and heightened visibility.

Reshaping the Global Fashion Narrative

Fashion, synonymous with change, stands as the fourth-largest economic sector globally. The BRICS+ Fashion Summit showcased a collective effort to introduce novel business paradigms. Designers from India, Turkey, South Africa, and China viewed participation as a gateway to new customer bases, signaling a potential shift in the industry's established norms.

Cem Altan, President IAF describes, “BRICS+ Fashion Summit is more than just a platform for free trading, it as a means for these nations to find a middle ground in both politics and trading—a process as the "BRICS transformation." Altan further tempered expectations, stating,  “Regarding BRICS projecting itself as a single market during the fashion summit, that it would be impossible for BRICS to surpass the combined trade of the United States and Europe.” However, he acknowledged the need for BRICS nations to learn global practices, open their doors to the global market, and collaborate to expand their presence internationally.

Key Trends and Collaborative Strategies

The success of local brands in Russia post-international exits highlighted the potential for BRICS nations to carve their niche. The narrative emphasizes the necessity for strategic initiatives and bespoke strategies, with industry leaders like David Tlale and Uma Rutanova advocating collaboration as the key to unlocking new possibilities in fashion.

Dreaming of a Single Fashion Market

Entrepreneur Zhang Yiming envisioned a revolutionary impact on the fashion industry with a BRICS+ single market, anticipating streamlined trade and increased access for emerging markets. However, cautionary notes from Natalia Vodianova urged careful consideration of challenges like differing regulations and infrastructure to realize this transformative dream.

Fashion Beyond Borders: Immersive Storytelling

Brazilian designer Francisco Costa declared that fashion transcends borders and languages, connecting cultures and building bridges. The BRICS+ Fashion Summit's shows went beyond mere displays, becoming immersive storytelling experiences. Digital elements and technology, as seen in Anamika Khanna's metaverse presentation, pushed the boundaries of traditional runway experiences, capturing the attention of global influencers like Mr. Bags.

Addressing Labor and Environmental Concerns

Venturing into the fashion world, BRICS+ nations confront challenges related to labor and environmental sustainability. The summit emphasized the urgency of reforming the textile labor force and investing in sustainable practices, underscoring a commitment to forging an eco-friendly fashion supply chain.

A New Chapter in Consumer Economics

Emphasizing cultural sensitivity and inclusivity in modern fashion design, the BRICS+ Fashion Summit marks a collective journey into consumer economics. Departing from traditional Western influences, it poses a bold challenge to established fashion capitals, hinting at a potential seismic shift in the global fashion landscape.

As the fashion world pivots towards the east and south, cities like Beijing, Mumbai, Moscow, Cape Town, and Dubai emerge as contenders against traditional powerhouses. The BRICS+ Fashion Summit acts as a catalyst, challenging norms, and heralding a new era in the industry's evolution.

RSWM, a leading player in the textile sector, has entrenched itself as one of India's premier manufacturers and exporters of synthetic and blended spun yarns. Renowned for its unwavering commitment to quality and an expansive product portfolio, the company caters to both domestic and international textile giants.

Distinguishing itself in denim fabric production, RSWM has earned accolades for its exceptional product quality. Esteemed figures in the textile domain rely on RSWM's denim fabric for its innovative designs and durability, contributing to the company's impressive clientele, which includes well-established domestic brands and global industry leaders.

Bolstered by a robust manufacturing infrastructure spanning 11 facilities, RSWM boasts a production capacity of 545,752 spindles, 4,800 rotors, and 172 looms. Notably, the company produces 159,500 tons of yarn, 32.4 million metric tons of denim fabric, and 4,800 metric tons of knitted fabric annually.

Financially, RSWM has demonstrated remarkable growth, with fabric constituting 23% of net profit and yarn contributing 77% as of FY23. The company's revenue surged from ₹2,771 crore in FY 2019-20 to ₹3,789 crore in FY 2022-23, showcasing consistent progress.

RSWM's triumph is underpinned by its unyielding dedication to quality, robust manufacturing capabilities, and enduring global client relationships. As the company continues its global expansion, RSWM stands as an indomitable force in the textile industry, poised for sustained success.

Cambodia's trade within the Regional Comprehensive Economic Partnership (RCEP) surged to over $26.5 billion between January and November this year, constituting 61% of the nation's total international trade, valued at $43 billion during this period, according to a Ministry of Commerce report released. 

The report highlighted a notable 27.29% YoY increase, reaching $7.21 billion, in Cambodia's exports to RCEP countries during the same period. Minister of Commerce Cham Nimol expressed the ministry's commitment to bolstering trade, citing RCEP as a pivotal market, contributing significantly to Cambodia's economic growth.

Emphasizing ongoing governmental reforms facilitating small and medium enterprises, Nimol underscored Cambodia's sustained export growth and job creation. The RCEP free trade agreement, operational since January 1, 2022, includes 15 Asia-Pacific nations, with Cambodia among the 10 ASEAN members. 

Senior Minister Sok Siphana lauded RCEP's impact on Cambodia's exports, citing substantial market access and its pivotal role in the nation's sustainable economic development. Cambodia's primary exports include garments, machinery, footwear, leather goods, and agricultural products, with the garment and footwear industry being the largest contributor to foreign exchange earnings, employing around 840,000 workers.

Teijin Frontier unveils its cutting-edge Microft MX high-performance fabric, a revolutionary textile crafted from multifilament yarn, seamlessly blending polyester and nylon through innovative spinning technology. 

This fusion results in a finely woven chambray appearance, marked by deep, vibrant colors. The raw yarn, characterized by a gently V-shaped, highly-deformed cross-section, imparts both bulkiness and a soft, spun-like texture. 

The fabric ingeniously marries the best attributes of polyester and nylon, combining the abrasion resistance and color development of nylon with the water absorption, quick-drying properties, and shape stability of polyester. 

As the demand for fashion bridging sportswear practicality with lifestyle aesthetics rises, Teijin Frontier aims to launch Microft MX for the 2025 spring and summer outdoor clothing and sportswear collections. 

The subsequent expansion into functional innerwear and fashion clothing anticipates selling 500,000 meters annually by 2026, addressing a gap in the market for materials seamlessly merging the texture and functionality of polyester and nylon.

Pakistan's textile exports, a crucial contributor to foreign exchange earnings, saw a sharp decline of 8% month-on-month and 7% year-on-year, totaling $1.3 billion in November 2023. The primary cause attributed to this slump is the recent surge in gas prices, escalating production costs and diminishing the competitiveness of Pakistani textile products globally.

The textile sector, classified into basic and value-added textiles, witnessed mixed performances. Basic textiles observed a 14% MoM decrease but a 20% YoY increase, bolstered by a significant surge in raw cotton exports. Conversely, value-added textile exports recorded a 6% MoM and 12% YoY dip, with towels being the worst-hit segment.

In the first five months of fiscal year 2023-24, textile exports amounted to $6.9 billion, marking a 6% YoY decline. The government's ambitious target of $25 billion for the fiscal year appears challenging, with the research firm predicting exports to reach $17 billion due to higher energy prices and currency pressure.

Additionally, the Sindh High Court has intervened, putting on hold the Sui Southern Gas Company's recent gas tariff hike, responding to a plea from the textile sector. The All Pakistan Textile Mills Association (APTMA) has urged the government to reduce power tariffs to regional averages, expressing deep concern over the sector's performance and warning of potential economic repercussions.

Indian spinner Sri Bhagirath has modernised its plant in Nagpur, Maharashtra 

The company has linked 17 of its Rieter K 47compact spinning machines at the plant with Rieter Autoconer X6 winding units.

Equipped with a unique sieve drum compacting and a single-duct system for suction, the K47 produces high-quality compact yarns with much less energy for compacting in comparison to other solutions on the market. 

The machine’s monitoring systems including the detect air guide element and the integrated ISM individual spindle monitoring system help it check the running properties of each spinning position. This enables it to achieve the highest level of yarn quality and machine efficiency and reduces operator workload. The machine also reduces operators’ efforts and time required for parameter setting and machine adopting through its semi-electronic drafting system.

The latest generation of Autoconer X6 machines offers intelligent and reliable automation. The machine offers self-optimising functions of the material flow, high cycle rates of the unique optic tube inspector and the efficient upper yarn gripping. The integrated SPID online-quality monitoring system also guides the operator to an off-standard spinning position in order to make corrections after the winding unit has detected faulty cops.

The new open prism technology of the machine enables the company to cover the complete yarn count range with only one prism and nearly no splice parameter variations. It has a consistent splice quality with average splice strength of more than 95 per cent.

Santoni Shanghai Knitting Machinery Co’s proposed acquisition of Terrot GmbH has been approved by Chinese authorities as a pivotal step in the company’s strategy to advance the industry and solidify its position as the leading manufacturer.

The acquisition will boost Santoni’s production capacity and market share. It will also enable the company to offer high-efficiency machines renowned for superior performance, low maintenance, and cost-effectiveness. Besides, the acquisition will showcase Terrot’s patented UCC 572-T, a state-of-the-art high-feeder transfer jacquard machine, at ITMA Asia + CITME, providing a sneak peek into the future of this collaboration.

Gianpietro Belotti, CEO, Santoni Shanghai, says, the acquisition will strengthen the company’s position in the industry and allow it to provide a superior knitting experience to customers. 

Robert Czajkowski, Managing Director, Terrot GmbH, adds, the acquisition will enhance Terrot’s technological expertise and its ability to offer innovative textile performances to the global market.

Terrot will continue its operations under the leadership of Robert W. Czajkowski and Dirk Lange. Santoni plans to retain Terrot’s headquarters, facilities, brands, and practices in Chemnitz, Germany.

Almost 39 well-known brands from the apparel industry such as H&M and Zara are at a high risk of souring materials, particularly PVC and cotton from the Uyghur Region using forced labor and state-imposed labor transfer programs.

At least four of China’s leading have ‘significant ties’ to the Uyghur region through sourcing, subsidiaries, and/or manufacturing, claims a report by researchers from the Helen Kennedy Centre for International Justice at Shaffield Hallam University (SHU) in the United Kingdom.  

These companies are linked to various western brands producing allegedly forced labor-made goods that are ultimately sold in the Europe, adds the report. 

The report alleges, EU lacks strict regulations to target forced labor-made goods, leading to a rapid increase in forced labor in recent years. 

The report has gained significant attention from legislators, specifically in the United States, where the Department of Homeland Security and the Customs and Border Protection put heightened weight on SHU reports when implementing the UFLPA.