Industry

Turmoil In Bangladesh: A Boon For Indian Textile Industry?

Textile Insights August 10, 2024

Bangladesh, which is currently embroiled in severe political crisis, is renowned for its thriving textile sector. The country’s substantial income from garment exports is now under threat due to the ongoing turmoil. As a result, global textile importers are beginning to explore

Industry

Myanmar Garment Factories Face Labour Shortage Amid Surge In Orders

Textile Insights August 10, 2024

Garment factories in Myanmar’s industrial zones are experiencing a surge in orders, but a shortage of local workers is creating job opportunities for job seekers, according to industry sources. “As a garment factory, our order intake is strong. We’ve received numerous orders intended for Bangladesh, amounting to hundreds of thousands. The volume of orders

Industry

Indians ‘Wait & Watch’ Bangladesh’s Textile Market Situation

Textile Insights August 9, 2024

By Avinash Mayekar, MD – Suvin Expo LLP It is better to be cautious than to invest hastily. The recent unexpected political turmoil in Bangladesh has created quite a stir in the Indian textile industry. Many discussions are taking place across various forums about the possible advantages that India might soon benefit from. However, in […]

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 of numerous local textile companies. Redma criticized the government’s

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

Bangladesh Garment Sector Faces US$ 814 Mln Loss Due To Unrest

Textile Insights August 1, 2024

The recent political and social unrest in Bangladesh has wreaked havoc on the nation’s garment industry, leading to unprecedented financial losses for manufacturers, including SDF Clothing. The student-led protests over state employment quotas, which escalated into violent clashes and government-imposed curfews, have caused an estimated US$ 814 million in losses. Md.