Industry

Indonesian Textile Industry Facing Crisis Due To Chinese Imports, Says Apsyfi Chairman

Textile Insights August 9, 2024

The Indonesian textile industry is struggling despite strong consumer demand, primarily due to an overwhelming influx of Chinese imports, according to Redma Gita Wirawasta, Chairman of the Indonesian Filament Yarn and Fiber Producers Association (Apsyfi). This situation has led to the closure

Industry

S&P Downgrades Bangladesh Amid Protests And Economic Strain

Textile Insights August 9, 2024

S&P Global has downgraded Bangladesh’s long-term foreign and local currency sovereign credit ratings from BB- to B+, citing elevated external vulnerabilities and weakening external liquidity. The outlook remains stable, with short-term ratings affirmed at ‘B’. The downgrade reflects Bangladesh’s modest per capita income, limited fiscal flexibility and

Industry

Nigeria Aims To Revive Textile Industry For Job Creation

Textile Insights August 8, 2024

The Nigerian government plans to rejuvenate the nation’s textile industry to spur job creation, according to Vice-President Kashim Shettima. Speaking at a meeting on Tuesday with the International Cotton Advisory Committee (ICAC), led by Executive Director Eric Trachtenberg, Shettima urged stakeholders to craft a strategic roadmap for the sector’s revival. Held

Industry

Indonesia Faces Trillions In Losses Due To Unregistered Textile Imports From China

Textile Insights August 8, 2024

Indonesia’s Ministry of Cooperatives and SMEs has reported a significant discrepancy between China’s export figures and Indonesia’s import data, leading to suspicions of unregistered textile imports from China. According to Temmy Setya Permana, the ministry’s acting deputy chairman for SMEs, the disparity suggests that illegal imports have flooded

Industry

Bangladesh’s Political Crisis Sparks Concerns For India’s Textile Sector

Textile Insights August 8, 2024

The Confederation of Indian Textile Industry (CITI) has raised “significant concerns” about the impact of Bangladesh’s ongoing political crisis on India’s textile and apparel sector. The turmoil in Bangladesh, which is facing its worst political crisis since Independence in 1971, could disrupt supply chains and affect production schedules for Indian

Industry

Bangladesh Unrest Halts Surat Textile Orders

Textile Insights August 8, 2024

The ongoing unrest in Bangladesh is posing significant challenges for Surat’s textile sector, which exports over Rs 100 crore worth of yarn and textile items to Bangladesh every month. The turmoil has led to a halt in new orders, raising concerns about payments for supplies already shipped. Bangladesh, a major apparel production hub for renowned […]

Industry

MP Opens Industry Office In Coimbatore to Boost Trade Ties Between MP And TN

Textile Insights July 29, 2024

Madhya Pradesh Chief Minister Dr Mohan Yadav announced the establishment of a Madhya Pradesh industry office in Coimbatore, Tamil Nadu, to enhance investment and strengthen trade ties between the two states. Addressing the ‘Invest MP-Interactive Session’ in Coimbatore, Dr Yadav emphasized the objective of the Investors Summit: fostering inter-state cooperation

Industry

Kumaraguru College Receives Advanced Rieter Spinning Machine For Students’ Training

Textile Insights July 28, 2024

The Department of Textile Technology at Kumaraguru College of Technology organized a handover ceremony for the Rieter R923 Rotor Spinning Machine on July 22, 2024 at KCT college campus. The R923 Rotor Spinning Machine, generously sponsored by Rieter Group, Switzerland, is valued at Rs 40 lakh. This state-of-the-art machine will significantly enhance the department’s

Industry

CITI’s Chairman Reviews Budget Impact

Textile Insights July 25, 2024

The Chairman of the Confederation of Indian Textile Industry (CITI), Rakesh Mehra, congratulated the Hon’ble Minister of Finance, Nirmala Sitharaman, for presenting her 7th Finance Budget. He lauded it as a forward-thinking budget addressing key issues for the overall growth of the Indian economy. However, he emphasized the need for bold measures to address the […]

Industry

Bangladesh Garment Factories Reopen After Four-Day Shutdown

Textile Insights July 24, 2024

Garment and textile factories in Bangladesh began reopening yesterday after a four-day shutdown, with expectations for full reopening today. Around 30% of garment factories, including some in Dhaka, resumed operations without incidents reported. BGMEA President SM Mannan Kochi and Mohammad Hatem, Executive President of the Bangladesh Knitwear Manufacturers and Exporters