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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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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

Bangladesh, Russia MoU to boost bilateral trade

Bangladesh and Russia have reportedly decided to sign a Memorandum of Understanding (MoU) to re... Read more

India drafts national e-commerce policy

India will not join the negotiations with the World Trade Organization (WTO) to develop trade r... Read more

Thailand applies for CPTPP membership

Thailand wants to join the Comprehensive and Progressive Trans-Pacific Partnership. The aim is ... Read more

RCEP can help India forge ties with Asean

India can strengthen economic ties with the Asean region by joining the Regional Comprehensive ... Read more

Bangladesh to allow overseas companies to set up industries

According to the sources of Global Economist Forum (GEF), the Bangladesh government may permit ... Read more

Indonesia looks for trade pacts

Indonesia is going all out to strike trade pacts with about a dozen countries and blocs. The US... Read more

India: New rules force e-com portals to withdraw products

According to the global research firm Jefferies, most e-commerce portals were forced to take do... Read more

Ghana waives VAT for textiles

Ghana has decided on zero-rate value-added tax for the textile industry. This is aimed at reviv... Read more

FTA between Sri Lanka–Bangladesh to boost trade

According to President Renuka Jayamanne, the proposed Free Trade Agreement (FTA) between Sri La... Read more

Bangladesh hikes Export Development Fund

Bangladesh Bank has increased the size of the Export Development Fund (EDF) by 16.7 per cent. T... Read more

Australia to sign FTA with Indonesia

Australia and Indonesia will soon sign a free trade agreement.This is expected to increase the ... Read more

Tirupur wants IGST exemption extended beyond March ’19

Exporters in Tirupur want the Centre to extend integrated goods and services tax (IGST) exempti... Read more

Exporters want more products to be included in MIES list

Exporters’ body FIEO says more products like jewellery and auto-components should be incl... Read more

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