Export

July Bangla Garment Exports Rise Sharply By 17.43%

Textile Insights August 14, 2023

During the first month of fiscal 2024, Bangladeshi garment exports rose sharply by 17.43 per cent to US $3.95 billion, up from $3.37 billion dollars in July 2022. Of this, woven garment shipments grew 11.54 percent in July 2023 and totaled $1.68 billion from $1.51 billion in July 2022, while

Sustainability

Boost Textile Recycling By Withdrawing Two Stage VAT – BTMA

Textile Insights August 14, 2023

The Bangladesh Textile Mills Association (BTMA) demanded the withdrawal of a two-stage value-added tax (VAT) on the purchase of textile waste from domestic market and also on production of recycled cotton yarn from the waste. BTMA urged the National Board of Revenue (NBR) to introduce a new harmonised system (HS) code for recycled cotton fibre […]

Corporates

Reliance To Invest Rs 7,000 Crores in Alok Industries

Textile Insights August 14, 2023

Mukesh Ambani led Reliance Industries Ltd (RIL) has plans to invest Rs 7,000 crores in the current fiscal in Alok Industries, a textile manufacturer and which is one of RIL’s subsidiaries. The Rs 7,000 crores investment is part of an Rs 14,000 crores investment, which the biggest Indian corporate company has planned to invest in […]

Export

Non Tariff Barriers Potent Tool To Disrupt Indian Garment Exports

Textile Insights August 12, 2023

At a webinar organised by Apparel Export Promotion Council (AEPC), it was highlighted that 69 percent of textiles related Non Tariff Barrier (NTB) notifications issued since 2019, relate to the garment industry alone. AEPC in collaboration with Sarvada Legal organised the webinar on ‘Emerging non-tariff barriers in the apparel export sector’, with the aim to […]

Sustainability

Cone First North American Denim Mill To Join CIRCULOSE Network

Textile Insights August 12, 2023

USA based Cone Denim has joined the CIRCULOSE Supplier Network and in turn has become the first denim mill in North America to join the network. Renewcell, a pioneering leader in textile recycling innovation, announced the launch of the CIRCULOSE Supplier Network last month. CIRCULOSE Supplier Network compromises of yarn and textile producers committed to […]

Financial Results

Reported EBITDA at Indorama Ventures slips 68% in Q2

Textile Insights August 12, 2023

Reported EBITDA at Indorama Ventures slipped 68 percent year on year to US $321 million in the second quarter of 2023, but rose 7 percent over the earlier quarter. The Thailand headquartered company recorded revenues of $4 billion in the reporting quarter, again down 27 percent from a year ago quarter, and also down one […]

Technical Textile & Nonwoven

Andritz Showing Novel Nonwoven Solutions At Techtextil India

Textile Insights August 12, 2023

Germany nonwovens technologies supplier Andritz will be showing its innovative nonwovens production and textile solutions at Techtextil India in Booth K12, Pavilion 2 & 3. The stall will highlight technologies for wipes, textile recycling, needlepunch, and textile calendering. The company will focus on its comprehensive technologies for all types of wipes: Airlace,

Machinery

Optima 3D Delivers ITMA Display Loom To US University

Textile Insights August 12, 2023

Optima 3D is delivering the special weaving technology it demonstrated at ITMA 2023 for installation at the University of Maine’s Advanced Structures and Composites Center (ASCC) in USA. The 3D weaving system consists of an Optima 3D Series 600 shuttle weaving machine with an integrated 2,688-hook Stäubli SX jacquard and harness. “It is also complemented […]

Export

Bangla Garment Exports Get UK Duty Free Status Post LDC

Textile Insights August 11, 2023

Bangladesh garment exports to the UK will continue to receive duty free status posts for a three year period following its transition out of the Least Developed Country (LDC) status in 2026. The South Asian country will be eligible to export 92 percent of tariff line products duty-free, which also includes apparels, when accessing the […]

Financial Results

Oerlikon Group Sales Drop 4.4% In Q2

Textile Insights August 11, 2023

In the second quarter ending June 30, 2023, Oerlikon Group sales dropped slightly by 4.4 percent year on year, to CHF 702 million, mainly driven by postponements in Polymer Processing Solutions’ filament orders. However, the Switzerland based group’s sales rose 3.6 percent from a year ago quarter, including 5.9 percent from Riri at constant exchange […]