Economy

Cambodia To Host Global Textile Summit 2025 In Phnom Penh

Textile Insights March 27, 2025

Cambodia’s thriving textile, footwear, and travel goods sector will take center stage at the Global Textile Summit 2025, set to be held on March 31 and April 1 at the Sofitel Phnom Penh Phokeethra. Organized by the Textile, Apparel, Footwear & Travel Goods Association in Cambodia (TAFTAC),

Economy

India Among Top Global Textile Exporters, Employs Over 45 Million: Economic Survey

Textile Insights February 13, 2025

The Economic Survey highlights India’s position as the sixth-largest exporter of textiles and apparel globally, with exports worth USD 34 billion in 2023. The sector remains a key contributor to GDP, industrial production, and employment, directly engaging over 45 million people, including a significant rural and female workforce. Nearly 80% of India’s textile

Economy

Budget 2025 Proposals To Boost Indian T&A Sector And Enhance Global Competitiveness

Textile Insights February 10, 2025

The domestic textiles and apparel (T&A) sector has applauded the growth-focused measures announced by Union Finance Minister Nirmala Sitharaman in the Budget 2025. Welcoming the progressive budgetary steps aimed at infusing the much-needed momentum, the apex industry body, Confederation of Indian Textile Industry (CITI) says that Budget reflects the government’s

Economy

Global Economy Set For Modest Growth Amid Heightened Uncertainty In 2025

Textile Insights February 9, 2025

The second edition of Association of Chartered Certified Accountants’ (ACCA) annual economic outlook examines the prospects for the global economy and key regions in 2025, exploring risks, trends and business implications. The 2025 Global Economic Outlook: A Highly Uncertain World report identifies critical developments, such as geopolitical challenges, trade policy shifts

Economy

Union Budget 2025-26: A Transformational Push For Textiles, MSMEs, Agriculture And Exports

Textile Insights February 1, 2025

Finance Minister Nirmala Sitharaman presented the Union Budget 2025-26, introducing a series of bold reforms and sector-specific initiatives aimed at bolstering India’s textile industry, MSMEs, exports and agriculture, while implementing tax relief measures to increase disposable income and stimulate economic growth. With a strong focus on self-reliance, domestic

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

Economy

Better Cotton Extends Agreement With Israel Cotton Board

Textile Insights December 23, 2024

Better Cotton has extended its standard recognition agreement with its strategic partner in Israel, the Israel Cotton Production and Marketing Board (ICB), for another year. The ICB, a farmer-owned cooperative, represents cotton growers across the country. Since 2020, ICB’s Israel Cotton Production Standard System (ICPSS) has been recognised as equivalent to the Better

Economy

‘India’s Continued Growth As A Hub For Flexible Staffing Is Essential To Meet Competitive Demand Of Digital Economy’

Textile Insights December 9, 2024

The Indian Staffing Federation (ISF) has released the Indian IT Staffing – Sectoral & State Employment Trends Report 2024, underscoring significant trends and projections within India’s IT flexi staffing industry.  The report provides an in-depth analysis of trends in IT staffing across various sectors and states, highlighting key advancements and

Economy

US Delegation Urges Labour Reforms In Bangladesh For Economic Growth

Textile Insights December 5, 2024

A high-level US delegation, led by State Department Special Representative Kelly M. Fay Rodriguez and Deputy Undersecretary of the Department of Labor Thea Lee, visited Bangladesh to emphasize the need for labour reforms that strengthen democracy and promote economic prosperity. The delegation, which also included representatives from USAID, major US brands, and global