Economy

Bangladesh Textile Sector Seeks Tax Cut to 10% And Loan Waivers

Textile Insights June 1, 2026

Bangladesh’s textile industry has sought urgent fiscal relief ahead of the national budget, with the Bangladesh Textile Mills Association (BTMA) proposing a cut in income tax for primary textile mills from 27.5% to 10% until 2030. The association said rising energy costs, supply disruptions,

Economy

Hong Kong’s Economic Recovery Still Incomplete Amid Global Headwinds: IMF

Textile Insights May 27, 2026

Hong Kong’s economic recovery remains incomplete despite steady progress, with growth still below pre-pandemic levels as external and domestic challenges continue to weigh on the economy, according to the latest assessment by the International Monetary Fund. Following its Article IV Consultation for Hong Kong, the IMF said that while the city has further strengthened its

Economy

Crude Oil Prices Slides As US-Iran Talks Progress

Textile Insights May 21, 2026

Global crude oil prices declined sharply on May 20th after Donald Trump indicated that negotiations between the United States and Iran had entered the final stages, raising expectations of easing geopolitical tensions in the Middle East. US benchmark West Texas Intermediate (WTI) crude futures dropped more than 5% to settle at US$ 98.26 per barrel, […]

Economy

RBI Likely To Maintain Repo Rate At 5.25% Through FY27: India Ratings

Textile Insights May 21, 2026

The Reserve Bank of India is expected to keep the repo rate unchanged at 5.25% throughout FY27 as inflation is projected to remain within the central bank’s tolerance range despite rising global uncertainties and higher crude oil prices, according to a report by India Ratings and Research. The agency projected India’s GDP growth at 6.7% […]

Economy

World Bank Sees Vietnam GDP Growth At 6.8% In 2026

Textile Insights May 21, 2026

Vietnam’s economy is expected to maintain strong growth momentum in 2026 despite increasing global uncertainties, supported by resilient exports, investment activity and ongoing structural reforms, according to the latest economic update released by the World Bank. The World Bank projected Vietnam’s GDP growth at 6.8% in 2026 following an estimated expansion of 8% in 2025,

Economy

Lux Industries Incorporates Wholly Owned Subsidiary Lux Global

Textile Insights May 20, 2026

Lux Industries has incorporated a wholly owned subsidiary, Lux Global Limited, in West Bengal as part of its ongoing business restructuring process linked to the proposed demerger of its Vertical C business. The company said the new entity was incorporated on May 18, 2026 and will engage in the manufacturing and trading of garments, including […]

Economy

IMF Warns Iran Conflict Threatens Global Growth

Textile Insights May 16, 2026

The International Monetary Fund (IMF) has warned that escalating disruptions from the ongoing Iran conflict are pushing the global economy closer to an adverse scenario of weaker growth, higher inflation and tighter financial conditions. According to AFP, the IMF said prolonged geopolitical tensions and disruptions to global energy supplies could significantly weaken the

Economy

Tipping The Scale: How Mass Balance Is Rewiring Textile Recycling

Textile Insights May 10, 2026

The textile industry is standing at a turning point. Built on speed, scale and global integration, it has delivered growth which few sectors can claim, but at a cost that is now impossible to ignore. Every year, an estimated 90 to 110 million tonnes of textile waste is either landfilled or incinerated, exposing a system […]

Economy

Government To Clear FDI Proposals Within 12 Weeks Under New SOP

Textile Insights May 10, 2026

The government has revised its Standard Operating Procedure (SOP) for processing foreign direct investment (FDI) proposals, setting a maximum clearance timeline of 12 weeks to speed up approvals and improve ease of doing business. Under the updated framework, all FDI applications will be decided within 12 weeks, excluding the time taken by applicants to rectify […]

Economy

Cabinet Clears ECLGS 5.0 To Ease Liquidity Amid West Asia Crisis

Textile Insights May 6, 2026

The Union Cabinet has approved the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 to support businesses facing short-term liquidity pressures arising from the ongoing West Asia crisis. The scheme extends credit guarantee coverage to eligible borrowers, including MSMEs, larger enterprises with existing working capital limits, and scheduled passenger airlines. To