Industry

Bangladesh Has 54 Out Of 100 Global LEED Garment Factories

Textile Insights December 30, 2023

Out of the 100 LEED certified garment factories in the world, 54 are now located in Bangladesh, which points to a commitment to green practices in the industry in the south Asian country. “The total number of Bangladesh clothing factories with LEED certificate now totals 206, which indicates

Industry

India To Maintain Economic Growth Velocity In 2024

Textile Insights December 30, 2023

India is likely to remain the fastest-growing major economy in the world in 2024, on the back of strong consumer demand leading to a pickup in investment across various sectors. According to the Associated Chambers of Commerce & Industry of India (ASSOCHAM), the sectors which will attract investments are construction, hospitality and infrastructure including railways

Export

Indian Garment Exporters Seek Three Year Rebate Extension

Textile Insights December 30, 2023

Apparel Export Promotion Council (AEPC) has sought a three year extension of RoSCTL, a rebate scheme, stating that it has become a dire necessity, given the current global economic uncertainties. In a statement, AEPC Chairman Naren Goenka said market sentiments have touched an all-time low and the traditional markets of the US and EU are […]

Apparel, Fashion, Retail

Noida Garment Exporters To Set Up Apparel Cluster In Odisha

Textile Insights December 30, 2023

Several garment exporters from the Noida apparel cluster have proposed to set up a garment cluster in Khordha in Odisha which will be spread over 100 acres. This was announced after a Noida garment exporters delegation met with Odisha Chief Minister Naveen Patnaik. “Patnaik assured the delegation of comprehensive support and facilitation and welcomed them […]

Apparel, Fashion, Retail

Italian Textile & Fashion Industry Records 3% Growth In 2023

Textile Insights December 30, 2023

Italy’s textile and fashion industry has reported a 3 percent increase in revenues in 2023 to €111.7 billion as against 2022, data from Confindustria Moda, Italy’s fashion trade body said. However, growth has been attributed to higher sales values, as there is a significant drop in volumes, which hints to a potential end to the […]

Export

India & Oman May Sign Proposed FTA In January 2024

Textile Insights December 30, 2023

In all probability, a Free Trade Agreement (FTA) may be signed between India and Oman in January 2024. “Negotiations are on track and both sides have already agreed on most of the text of the chapters of the Comprehensive Economic Partnership Agreement (CEPA),” CNBC quoted government sources as saying. The second round of talks for […]

Industry

Clothing Brands Commit To Hike Rates To Offset Wage Increase

Textile Insights December 29, 2023

Several global clothing brands have formally committed to increasing rates for their Bangladeshi garment suppliers to offset the hike in worker wages which comes into effect from January 1. “It’s quite encouraging that we have received formal letters from a few brands confirming their position to pay a price that absorbs the increase in wages,” […]

Sustainability

Textile Start-Up Evrnu To Focus On Recycling Denim

Textile Insights December 29, 2023

Seattle-based start-up Evrnu has partnering with UK fashion and textile innovator Pangaia to focus on recycling denim, one of the most challenging forms of cotton. The process, known as NuCycle, mechanically and chemically transforms solid cotton into pulp and then reconstitutes it into fibres for new clothing. The patented system ensures that the end result […]

Export

Vietnamese Textile & Clothing Exporters Seek Govt Assistance

Textile Insights December 29, 2023

The Vietnamese textile and garment export sector which has been witnessing a declining trend since the beginning of this year is seeking assistance from the government to navigate the challenges. “Textile and garment exports started slowing down in the final months of 2022, and there haven’t been any signs of improvement,” Le Tien Truong, Chairman […]

Industry

Trend Of Layoffs Continue In Indonesian Textile Sector

Textile Insights December 29, 2023

The trend of layoffs is continuing in the Indonesian textile and garment sector which started since the beginning of this year. According to the Confederation of Indonesian Workers’ Unions (KSPN) more than 7,000 workers have been laid off since the beginning of 2023 in both the textile and apparel industries. KSPN President Ristadi pointed out […]