China's textile equipment production is rapidly becoming self-sufficient, with the country producing more than 80% of its textile equipment, according to the China National Textile and Apparel Council.

The council revealed that the localization rate of key components for high-end textile equipment has surpassed 50%, indicating China's growing ability to produce high-quality equipment with locally-made components.

China's textile and clothing exports have seen a stable growth in 2022, with data from the council indicating an export volume of 323.3 billion U.S. dollars. With China's increasing self-sufficiency in textile equipment production, the country is poised to solidify its position as a global leader in the textile and clothing industry.

The Chinese government has made significant investments in the textile and apparel industry, which has been a significant contributor to the country's economy for decades. The industry's focus on localization is also in line with the government's efforts to boost domestic innovation and production.

Industry analysts believe that China's growing self-sufficiency in textile equipment production will reduce the country's reliance on imported machinery and components, thereby strengthening the industry's resilience to global supply chain disruptions. Additionally, it is expected to enhance the competitiveness of Chinese textile and clothing manufacturers in global markets.

The localization of high-end textile equipment components and China's increasing self-sufficiency in textile equipment production are significant developments in the country's textile and apparel industry.

The council is committed to guiding and supporting relevant companies in the industry to integrate upstream and downstream industrial chain resources, improve technological bottlenecks, and enhance the overall level of the textile machinery industry.

India is unlikely to impose anti-dumping duty (ADD) on viscose staple fibre (VSF) from Indonesia due to concerns that it could exacerbate the shortage of the key raw material for the textile industry.

In December 2022, the Directorate General of Trade Remedies (DGTR) recommended a duty of $0.512/kg on VSF imports as part of an initiative to enhance the quality of textiles. However, about a dozen Members of Parliament recently wrote to finance minister, arguing that the proposed duty would raise the import price of viscose fibre by up to INR40 per kg.

The government has not announced the duty, and the period where the decision was expected to come is now over. So, anti-dumping duty on VSF is unlikely.

The proposed imposition of the duty on VSF would have been a setback for the domestic textile manufacturers, who were already facing the prospect of trade disruptions, lower competitiveness, and economic losses. Domestic VSF demand was 700,000 tonnes in the financial year, while the availability was only 540,000 tonnes. The anonymous source further added that while the government is focusing on quality, it is also looking to maintain the availability of raw material.

VSF duty was recommended to improve the quality of the product, but it is not expected to be imposed anymore, considering there is tough competition in sourcing.

Bangladesh has urged the European Union (EU) to consider textile threshold criteria for the country in the newly proposed GSP provisions. The plea was made by a delegation led during a visit to the European Parliament, in Brussels.

At the meeting, bilateral trade, LDC graduation, the proposed EU GSP scheme for 2024-2034, challenges, and preparedness to address them and the continuation of the development momentum of Bangladesh were discussed. The delegation stressed the significance of the EU's continued support for Bangladesh's smooth LDC graduation, and urged the international organization to extend the transition period from three years to six years.

The presentation made expressed thhat Bangladesh had greatly benefited from LDC-specific trade preferences under the generalised system of preferences (GSP) scheme. The readymade garment (RMG) industry has made a significant contribution to the socioeconomic development of Bangladesh, especially poverty alleviation through employment creation and empowerment of women, who make up 60 percent of the total apparel workforce.

Under the proposed provisions, Bangladesh is likely to qualify for GSP+ after its LDC graduation, but the specified EU "safeguards" would exclude the country's clothing exports from any tariff preferences. As a result, Bangladesh's apparel sector would not benefit from the GSP+ facility and would lose competitiveness in the EU market, which would hurt the RMG sector and millions of lives who depend on the industry for their livelihood.

The delegation hoped that the EU would consider the issues and continue to support Bangladesh so that the momentum behind the country's economic growth continues after LDC graduation.

Bangladesh is eager to ensure that it maintains its economic momentum and that the RMG sector continues to contribute to the country's development journey.

The Indian government has announced a new Foreign Trade Policy (FTP) that will come into effect on April 1, 2023. Unlike previous policies, this one will be an open policy without any closing period. It will provide continuity in all schemes and offer flexibility to address various issues as they arise, making it more exporter-friendly.

The extension of the Foreign Trade Policy 2015-20 until March 31, 2023, was due to the prolonged lockdown caused by the coronavirus pandemic and its impact on the Indian economy. With the new policy, the government hopes to provide a boost to the country's exports.

Government's decision to continue the Export Promotion Capital Goods (EPCG) scheme and the Special Advance Authorization Scheme for the textiles and clothing industry, as been applauded. This move will help the industry to bridge the gap in the supply-demand of textile machinery and raw materials, which are heavily dependent on imports. Additionally, the policy will allow for the import of speciality raw materials that are not manufactured in India, thereby enhancing the industry's global competitiveness.

Another significant feature of the policy is the Amnesty Scheme, which settles unfulfilled obligations under the Advance Authorization Scheme and EPCG Scheme, capping interest to 100%, excluding additional and special additional duty from the export obligation, waiving penalty, and other measures would greatly benefit the textiles and clothing industry, particularly the spinning sector, by relieving them of long-pending disputes and problems.

The policy's focus on increasing exports and reducing the risk of forex rate volatility by enabling money transactions in Indian Rupee with certain countries and the policy's efforts to decentralize export promotion activities by making each district an export hub with e-commerce and inclusive growth initiatives have also been appreciated, as this move would greatly benefit the Micro, Small, and Medium Enterprises (MSME) exporters, which account for over 80% of the textiles and clothing value chain.

The weaving sector of Gujarat's textile industry, a prominent hub for Indian textiles, is set to receive a significant boost with the announcement by the central government that zero duty on high-speed weaving machines will continue. This decision has come as a major relief to the textile industry, which was apprehensive after the Union Budget had levied a 7.5% basic customs duty and 10% surcharge on high-speed weaving machines.

Textile associations from the state had previously written to the finance minister, requesting that imported machinery be granted the benefit of zero duty, as it had been for the past five years. The industry is now expected to receive new investments worth Rs 40,000 crore, with the continuation of zero duty for the next two years.

The investment is projected to reach $100 billion to cater to incremental market demand till 2030 and replace outdated machinery. It is estimated that $65 billion will be invested in the main production machinery, which is expected to create 15 million jobs by 2030.

The central government had previously provided relief through a concessional rate of duty for five years until March 31, 2023. It has now extended the concession for an additional two years, providing further incentives to the industry.

The global woven fabric market is expected to grow significantly over the next decade, reaching USD 624.50 Billion by 2033, with a CAGR of 1.40%, according to a new report by a leading research firm.

The report indicates that the demand for woven fabrics is increasing in various sectors, including fashion, home textiles, and industrial textiles.

The fashion industry, in particular, is driving the growth of the woven fabric market, with designers preferring woven fabrics due to their versatility and variety. The report also notes the rising demand for woven fabrics in the home textiles market for applications such as upholstery, curtains, and bedding. The industrial textiles sector is also experiencing a growing demand for woven fabrics, with new opportunities emerging for geotextiles and filter fabrics.

There are several market opportunities for woven fabrics, including the adoption of advanced technologies like digital printing and computer-aided designing, which allow for the creation of realistic patterns and designs on woven fabrics. Additionally, the rising disposable income and changing lifestyles in emerging economies like China and India are driving demand for textiles, creating new opportunities for the woven fabric industry. The increasing demand for eco-friendly and sustainable fabrics, such as organic cotton and recycled polypropylene, which will create further opportunities for the woven fabric industry.

However, there are several challenges faced by the woven fabric market, including competition from non-woven, knitted, and synthetic textiles, which some consumers prefer due to their durability and comfort. The market is also sensitive to fluctuations in raw material prices, such as wool, cotton, and polyester, which can impact profit margins and limit market growth. Finally, woven fabrics require skilled labor, which can lead to an increase in production costs, affecting profit margins and market growth.

Commerce and Industry Minister Piyush Goyal announced India's much-awaited new Foreign Trade Policy 2023-28, aimed at boosting the country's exports amid a global economic slowdown.

The policy comes after several extensions of the previous foreign trade policy (2015-20), which ended in March 2020. The current policy was extended repeatedly due to the Covid outbreak and resulting lockdowns, with the latest extension given in September 2022 until March 31, 2023.

The new policy is expected to outline the vision statement for taking India's goods and services exports to $2 trillion by 2030, a significant increase from the current export level of around $500 billion. The policy is expected to focus on various areas such as simplifying export procedures, boosting the competitiveness of domestic industries, and diversifying India's export markets.

In addition to the focus on boosting exports, the policy is also expected to address some of the challenges faced by Indian exporters, such as the high logistics cost, lack of access to credit, and the need for skill development. The policy is also expected to promote sustainable trade practices and encourage the adoption of digital technologies to enhance efficiency and transparency in the export process.

India's foreign trade has been adversely affected by the global economic slowdown and the disruptions caused by the Covid pandemic. The new policy is expected to provide a much-needed boost to India's exports and help the country achieve its ambitious target of becoming a $5 trillion economy by 2025.

The online clothing rental market is set to experience a significant increase in size by USD 3.00 billion between 2021 and 2026, according to a new report by Technavio.

The market's growth momentum will slow down at a CAGR of 17.91%. The report also identifies the rising popularity of experiential marketing as a key trend in the market, with vendors incorporating consumer participation in various marketing activities to attract more consumers to their platforms. Experiential marketing campaigns, including live marketing, participation marketing, loyalty, and event marketing, are particularly effective in targeting millennials, who represent the most important target group for these efforts. This trend is expected to drive growth in the online clothing rental market during the forecast period.

A significant growth in the women's segment is forecasted due to the increasing popularity of renting clothing for different occasions, as occasional clothing wear is priced higher than rental options. The environmental impact of dumping unwanted clothing into landfills is also driving the adoption of online clothing rental services. Additionally, the increasing number of working women who prefer online shopping due to a hectic lifestyle is contributing to the demand for online luxury apparel.

Geographically, the APAC region is expected to contribute to 44% of the market's growth during the forecast period, driven by the demand for affordable fashion and a wide assortment of fashion goods.

While the growing e-commerce fashion industry is a major driver for the online clothing rental market growth, inventory management is one of the primary challenges facing the market. Vendors must maintain a strong inventory management system to avoid stock-outs and ensure timely replacement of older clothing items with new items.

Additionally, a high-speed reverse logistics system is needed to complete product returns. Weak inventory management could affect the overall business of vendors operating in the global online clothing rental market.

The Directorate of National Consumers Right Protection (DNCRP) has warned fashion brands that their outlets may be temporarily closed if price gun machines are found during its market drives.

DNCRP officials issued the warning during a meeting with fashion outlet representatives at the directorate's office in Karwan Bazar, Dhaka. The director of the DNCRP emphasized that price tags should be attached to products at the factory level, not at showrooms or retail outlets. The change inprice tags has been noticed during market drives in the past year and, in most cases, the prices have increased after the change was made. The DNCRP director warned that actions would be taken if the rule was violated.

It has observed that some sellers from neighboring countries come to Bangladesh and rent a house to sell foreign clothes to customers. He noted that such activities harm local fashion houses. Actions will be taken against the market committee if irregularities are found in shopping malls.

The use of a pricing gun, a handheld device used to attach a price label to a product, is a violation of the DNCRP's rules.

Recent trade events like Cotton Conference in Zhangjiagang, the Hangzhou Chemical Fiber Forum, and the Shanghai Yarn Expo have all attracted large crowds indicating a strong enthusiasm for face-to-face interactions. However, while the surge in attendance may suggest a booming market, there are concerns about the sustainability of this recovery.

The home textiles market, driven by the hotel industry, is expected to remain strong for some time. Increased business travel and tourism are also likely to drive some clothing consumption. Nevertheless, industry players are becoming increasingly cautious as new orders continue to decrease, and a worrying sentiment is beginning to rise.

Export sales have also been a cause for concern as data from China customs shows a sixth consecutive month of year-on-year decline in textile and apparel exports. Clothing accounts for over half of the total textile and clothing exports, with exports to Europe, the United States, and Bangladesh decreasing by over 30%. Only a few markets, such as South Korea, Kyrgyzstan, Russia, Brazil, Kazakhstan, Saudi Arabia, and Singapore, have shown some growth.

Although the recovery of domestic sales seems to be in stark contrast to the decline in export sales, the strength of the recovery still needs to be determined by the real downstream demand.

Overall, while the recent offline gatherings have been encouraging, caution remains as the sustainability of the recovery and the uncertainty of the export market continue to weigh on the industry.