Corporates

LRT Passes Komatsu Japan’s Audit For Safety-Critical Castings

Textile Insights December 30, 2024

Lakshmi Ring Travellers (LRT) successful completed a rigorous audit conducted by its esteemed customer, Komatsu, Japan, at its facility. The audit focused on evaluating the production of safety-critical castings, and LRT’s achievement reflects its steadfast commitment to quality,

Corporates

Boyovut Cotton Textile Awarded Saurer Certificate Of Excellence In Ring Spinning

Textile Insights December 30, 2024

Boyovut Cotton Textile, a prominent cotton cluster in Uzbekistan, has been recognized with the prestigious Saurer Certificate of Excellence in Ring Spinning. The award highlights their dedication to producing high-quality ring-spun and compact-spun yarns using advanced Saurer machinery. The facility utilizes cutting-edge Zinser Autospeed A 5 roving frames, Zinser ZR 72 XL

Industry

Egypt Completes First Phase Of Textile Industry Revitalization Project

Textile Insights December 30, 2024

Prime Minister Mostafa Madbouly has announced the successful completion of the first phase of Egypt’s large-scale initiative to modernize its textile industry. Key milestones achieved in this phase include the operational launch of facilities like Ghazl 4 and Ghazl 1, the establishment of textile preparation factories, and the construction of power generation

Industry

Mexico Raises Tariffs On Textile And Apparel Imports

Textile Insights December 30, 2024

On December 19, Mexico announced a significant tariff increase on textile and apparel imports, with rates of up to 35%. The new tariffs will take effect on December 20, 2024, and remain in place until April 23, 2026. The move aims to address unfair competition impacting Mexico’s textile and apparel industry, which has been affected […]

Corporates Textile Print

RSWM Ltd Wins Silver At Financial Express Green Sarathi Awards

Textile Insights December 30, 2024

RSWM Limited, part of the LNJ Bhilwara Group, has won the Silver Award in the “Sustainable Fashion and Textile” category at the Financial Express Green Sarathi Awards. The award recognizes its initiative, “Redefining Sustainability – Mapping Initiatives for a Greener Tomorrow,” aimed at reducing environmental impact and fostering innovation.

Industry

Slight Capacity Growth and Lower Fiber Consumption

Textile Insights December 30, 2024

The International Textile Manufacturers Federation (ITMF) has released its International Textile Industry Statistics (ITIS) for 2023, covering productive capacity and raw materials consumption in the short-staple spinning mill sector across global textile-producing countries. The data was calculated using a new method and includes a review of past time series. In 2023, the

Corporates

Hengju Launches 30,000-Ton Spandex Project With Advanced Automation

Textile Insights December 30, 2024

Hengju’s 30,000-ton differentiated functional spandex project in collaboration with Hengshen Group has successfully entered the production phase, with qualified products now being produced. This marks a significant milestone in the chemical fiber sector. Hengshen Spandex is the only small and medium-sized enterprise in the spandex industry to expand production

Economy

IMF Grants US$ 645 Million To Support Bangladesh’s Economy

Textile Insights December 27, 2024

The International Monetary Fund (IMF) announced on December 26 that it will grant US$ 645 million to support Bangladesh’s economy, which is US$ 105 million less than the US$ 750 million requested by the government to address its current economic challenges. Of the total amount, US$ 426 million will be provided through the IMF’s Extended […]

Economy

Bangladesh Requests Policy Shift For Recyclable Plastics Imports

Textile Insights December 27, 2024

Bangladesh’s textile millers have urged the government to allow the import of recyclable plastics and provide adequate support for utilizing plastic flakes and polyester staple fibre (PSF) products, which are produced following proper procedures. Showkat Aziz Russell, president of the Bangladesh Textile Mills Association (BTMA), highlighted that these products could serve

Export

FIEO Plans To Boost Indian Exports To The US Amid Tariff Shifts

Textile Insights December 27, 2024

The Federation of Indian Export Organisations (FIEO) has outlined a strategic plan to enhance India’s exports to the United States, capitalizing on opportunities arising from potential tariff hikes on Chinese goods under the administration of US President-elect Donald Trump. Israr Ahmed, Vice President of FIEO, emphasized the need for financial support to enable