Export

UK & EU FTA’s Will Be Game Changers: AEPC Chairman

Textile Insights December 13, 2023

The Apparel Export Promotion Council (AEPC) Chairman Narendra Goenka has expressed enthusiasm regarding the proposed free trade agreement with both the United Kingdom and the European Union. “The FTA will be a game changer for the industry,” Goenka said, while emphasising the significant

Export

Panipat Yarn Production Slumps 50% From Export Slowdown

Textile Insights December 13, 2023

With a slowdown in Indian textile finished product exports, the yarn industry in Panipat, is also experiencing a crisis, due to which spinning mills have reduced production by 50 percent. Around 40 lakh kg yarn was being produced in Panipat, which due to a poor demand from overseas markets; production has now slumped to 20 […]

Export

If US Imposes Sanctions, Garment Buyer Will Not Take Delivery

Textile Insights December 12, 2023

A US based fashion garment buyer has issued a letter of credit (LC) to a Bangladesh garment exporter, with the condition, that it will not pay the amount or take delivery, if US enforces sanctions on Bangladesh. As per Prothomolo, this development was confirmed by Faruque Hassan, President of the Bangladesh Garment Manufacturers and Exporters […]

Export

Pakistan Textile Sector Drafts Plan To Reach $50bn In Exports

Textile Insights December 12, 2023

The Pakistan textile industry has submitted an ambitious plan to the government to achieve a US $50 billion export target in textile and apparel exports. The industry has submitted a list of recommendations for removing barriers and providing incentives to reach the target to the Export Advisory Council for Textiles. In a presentation, the industry […]

Export

Revitalizing Indian Textile Exports With Government Initiatives

December 12, 2023

Indian textile small and medium enterprises (SMEs) capitalize on the nation’s rich pool of raw materials and abundant resources. While globalization has opened up new international avenues, persistent challenges have hindered growth. India faces formidable competition from countries like Bangladesh and Vietnam, which benefit from lower labour costs and expansive

Export

India Eyes 75% Jump In MMF Textile Exports To US$ 11.4 Bn By 2030

December 12, 2023

The Indian textile industry expects India’s exports of man-made fibre (MMF) textiles to increase by 75% to reach US$ 11.4 billion in 2030, up from approximately US$ 6.5 billion in 2021-22. This growth is attributed to the Production Linked Incentive (PLI) scheme and Free Trade Agreements with the UAE and Australia. As the world’s second-largest […]

Export

US Imports Of Cotton Garments Decline At Higher Rate In Q3

Textile Insights December 11, 2023

In the months between July and September 2023, there was a decline in US imports of garments. However the drop in imports of cotton was higher than in manmade fibre apparels. In the third quarter of ongoing year, US clothing imports fell 16.46 percent as against same quarter of earlier year. However, the decrease in […]

Export

Primark Places Orders Worth Rs 2,000 Crore With Tiruppur Exporters

Textile Insights December 9, 2023

UK headquartered fashion, home décor and beauty products retailer Primark, has orders worth Rs 2,000 crore in the pipeline which it has placed with the Tiruppur textile and garment cluster. This was revealed by Tiruppur Exporters Association (TEA) after a meeting with an environment social governance team from Primark. TEA added that Primark has been […]

Export

Several Challenges For Garment Export Sector – Bangladesh Bank

Textile Insights December 6, 2023

The Bangladesh Bank’s (BB) latest quarterly review on the garment sector informs that Bangladesh garment exports may face various challenges in the next few months of the current fiscal year. The central bank of Bangladesh attributed the challenges to global economic volatility, high inflation, uncertainties over the geo-economic landscape and low productivity. “Reducing

Export

Bangladesh Clothing Overseas Shipments Drop 6.05% In November

Textile Insights December 5, 2023

Bangladeshi apparel exports fell to US $4.78 billion in November 2023, decreasing by 6.05 percent year on year and garment shipments were the highest in the month, since the fiscal began in July 2023. “Exports of clothing dropped to $22.3 billion in the five months to November of fiscal 2024, down 1.82 percent from a […]