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Budget 2019-20: Textiles allocation reduced, FDI norms for single bran…

Budget 2019-20: Textiles allocation reduced, FDI norms for single brand retail relaxed

"Finance Minister Nirmala Sitharaman presented her maiden budget in Modi 2.0 government. However, the textiles sector seems to have been low on her priority list as the Budget allocation for textiles has been reduced to Rs 5831.48 crore in fiscal 2019-20 from Rs 6,943.26 in the last fiscal. Total textile infrastructure... Read more

NCTO recommends strong policies, FTAs, improved infrastructure for US …

NCTO recommends strong policies, FTAs, improved infrastructure for US textile growth

"While NCTO strongly supports the free trade structure established under NAFTA, it also agrees with President Trump’s desire to improve the terms of the original agreement. It specifically advocates certain improvements in NAFTA renewal negotiation. Some of these include: maintaining yarn forward as the fundament... Read more

NCTO CEO Kim Glas to revive the American textile industry

NCTO CEO Kim Glas to revive the American textile industry

"Kim Glas, new the president and CEO of the National Council of Textile Organisations since April 2019, has set a definite goal to revive the flagging American textile industry. She notes the American industry in the last few years has seen a remarkable uptick in employment with the industry currently employing 600,000... Read more

India: Labor issues cloud India’s knitwear hub Tirupur’s development

India: Labor issues cloud India’s knitwear hub Tirupur’s development

"Once touted as the ‘knitwear capital of India, Tirupur, is currently mired by labor issues. Underemployment and rising costs of living, coupled with the continuing impact of policy measures such as the Goods and Services Tax, especially on small-scale manufacturers, is stagnating growth in the city with the shor... Read more

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

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

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…

New markets, technological innovations to boost India’s apparel exports

"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…

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

"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

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

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

 
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Vietnam: EVFTA to replace GSP rates with MFN tariffs

According to a report from Bảo Việt Securities Joint Stock Company (BVSC), textile, garment and... Read more

India: Textile industry hails new budget proposals

The Indian textile industry has hailed the Budget proposals for 2019-20. As the Cotton Textiles... Read more

Pakistan: Introduction of sales tax shuts down textile units

The business of wholesalers and retailers associated with textile processing mills has come to ... Read more

Several measures needed for growth of Indian technical textiles

Indian technical textile market is expected to witness substantial growth from 2016 to 2024. Th... Read more

India to revise customs rules

India may revamp its customs duty regime, weeding out some exemptions and correcting inverted d... Read more

India may extend rebates to yarn and fiber

India may extend the rebate scheme to other textile categories like yarn and fiber. As of now t... Read more

India plans anti-dumping duty on yarn imports from four nations

The Indian government may impose anti-dumping duty on imports of certain types of filament yarn... Read more

Bangladesh removes domestic yarn from the VAT net

The Bangladesh Textile Mills Association has thanked the government for imposing Tk4 tax on sal... Read more

Handloom weavers want GST fixed at five per cent

India’s power loom weavers and business owners want the current GST rate for power loom t... Read more

India unveils textile package

India has unveiled a special package for the domestic apparel sector. The aim is to encourage t... Read more

Bangladesh mills want tax scrapped

Textile mills in Bangladesh want the five per cent advance tax proposed on import of textile ma... Read more

Bangladesh exporters seek more incentives

Bangladesh garment manufacturers and exporters want cash incentives to be raised from one per c... Read more

BGAPMEA calls for a reduction of corporate tax rate to 12%

Bangladesh Garment Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA) ... Read more

Bangladesh grants 5% cash incentive for RMG sector

The Bangladesh readymade garments industry has received the highest cash incentive of 5 per cen... Read more

CCA to request for waiver of import tariffs on uncombed cotton

The China Cotton Association (CCA) will request the US government to waive off the import dutie... Read more

Pakistan may abolish zero rating on leather, garments and carpets

Pakistan plans to abolish zero-rating for exports of leather, surgical, sports goods and carpet... Read more

Bangladesh makes it mandatory for buying houses to register with DoT

Buying houses in the garment and textile sector of Bangladesh have to get themselves registered... Read more

Exporters in Pakistan want 60 days claims

Exporters in Pakistan want to be paid their sales tax claims in 60 days. They say their money i... Read more

NCTO & AAFA oppose new tariffs on Mexican exports

The National Council of Textile Organizations (NCTO) and American Apparel & Footwear Associ... Read more

Government, GST Council to address distress in the Indian export sector

The Central government and the Goods and Services Tax (GST) Council, will meet later this month... Read more

SIMA appeals for early release of pending TUFS subsidies

Southern India Mills’ Association (SIMA), the largest spinning mills association in the c... Read more

GST on textiles may be tweaked

GST on textile products may be reworked. The move is expected to help the sector be more compet... Read more

US ends GSP for India

The US has ended trade concessions for India under GSP. India calls the decision discriminatory... Read more

US suspends GSP for India

The US has suspended GSP benefits for India. The Generalized System of Preference (GSP) is the ... Read more

NACC urges EU to continue tariff-free access to Cambodian brands

In an open plea, National Union Alliance Chamber of Cambodia (NACC representing 400,000 Cambodi... Read more

Pakistan: Textile sectors reject move to discontinue zero-rated status

The value-added textile manufacturers and exports association in Pakistan has advised the gover... Read more

CITI advises caution on RCEP pact

Sanjay K Jain, Chairman, CITI has advised the Indian government to be cautious about the textil... Read more

India considering fast refunds

India is considering boosting exports by introducing fast refunds of central and state taxes an... Read more

VF Corp Q4 revenue up five per cent

VF Corp’s total revenue rose 5.5 per cent in the fourth quarter. Revenue from Vans, known... Read more

Philexport urges govt to revive law on local fabrics use

The Philippine Exporters Confederation (Philexport), has urged the government to revive a 2004 ... Read more

India: Apparel exporters seek more clarity on new tax rebate scheme

Pointing out that export business has significantly picked up after the announcement of rebate ... Read more

UK may impose compliance code on companies

UK multinational companies may come under pressure to follow fair and clean practices in their ... Read more

EU decision to withdraw preferential trade access to hurt Cambodia

The EU may withdraw preferential trade access to Cambodia over Cambodia’s human rights re... Read more

India: Rebates may replace MEIS

India may replace the Merchandise Export Incentive Scheme (MEIS) with the Rebate of State and C... Read more

India to seek deadline extension for GSP withdrawal

India is looking for an extension of the deadline US for withdrawal of export benefits to domes... Read more

India: Rebate scheme to replace MEIS for all textile products

India will extend the upgraded Rebate of State and Central Taxes and Levies scheme to all texti... Read more

No deal Brexit: UK exporters to face tariffs

In the event of a no-deal Brexit, the UK will impose tariffs on manufacturers and exporters. Al... Read more

Texprocil welcomes rebates on embedded taxes

The Cotton Textiles Export Promotion Council (Texprocil) has welcomed the cabinet’s appro... Read more

India: Handful of relief measures to help textile and apparel industry

The government has introduced various measures to benefit almost every segment of the Indian te... Read more

Tamil Nadu launches initiatives for textile sector under new integrated pol…

The Tamil Nadu government has announced a host of incentives for the textile sector. The just r... Read more

India: Export rebates for apparel, made-ups extended

India has extended rebates for apparel and made-ups manufacturers and exporters. Rebates of sta... Read more

India: SIMA hails Tamil Nadu Comprehensive Textile Policy 2019

The Southern India Mills Association has hailed the Tamil Nadu Government for releasing the Tam... Read more

Sri Lanka invites Italian investors

Sri Lanka and Italy are strengthening bilateral ties.The two countries have maintained excellen... Read more

India: State CACP seeks hike in cotton MSP for 2019-20

The Maharashtra unit of the Commission on Agricultural Costs and Prices (CACP) is seeking a 15 ... Read more

USA to scrap GSP benefits for India

USA plans to scrap the generalised system of preferences (GSP) benefits for India within the ne... Read more

USA withdrawal of GSP may not hurt India

The US decision to withdraw GSP benefits will not have a significant impact on Indian exports t... Read more

Reduction in fund allocation under ATUFS upsets Indian weavers

The weavers in Surat are upset as the Finance Minister has reduced allocation under Amended Tec... Read more

Mexico refuses to ratify NAFTA unless USA lifts tariffs

Mexico has refused to approve the labor-reform bill as a necessary step to ratifying the new No... Read more

Indonesia and Australia eliminate tariffs through FTA

Indonesia and Australia recently signed an FTA that eliminates many tariffs, allows Australian-... Read more

Retail growth in Pakistan slows down

According to Javed Siddiqi, Director, Stylo-a ladies footwear, prêt and accessories brand... Read more

China wants wider access to India

China wants 85 per cent of its products to enter India duty-free.In turn China is willing to gi... Read more