Industry

HMX, Business Unit Of A.T.E. Group Inaugurates Second Unit

Textile Insights January 31, 2024

HMX (a Business Unit of A.T.E. Group) announced the opening of a second manufacturing hall spread over 25,000 square feet in Ahmedabad, India, on January 16, 2024. With this expansion, HMX’s production capacity receives a significant boost which will help us meet the fast-growing global

Industry

Bangladesh Textile Sector Attracts Nil Investment In 2023

Textile Insights January 30, 2024

The Bangladesh textile industry did not witness any new investments in 2023 due to various internal and external forces, which include a severe shortage of energy and a global economic slowdown. This was informed by Bangladesh Textile Mills Association (BTMA) President Mohammad Ali Khokon at a press conference held on the eve of DTG 2024 […]

Industry

Turning The Wheel: ICRA’s Anticipated Surge In Cotton Demand Creates Buzz In The Industry

Textile Insights January 30, 2024

In a recent research note by ICRA on the domestic cotton spinning industry, the rating agency has anticipated a robust 12-14% growth in demand for FY2024, driven by a surge of 85-90% in yarn exports. This upswing is attributed to a shift in sourcing preferences away from China and heightened expectations of increased demand in […]

Industry

FICCI’s Budget Wish List To Boost Investments, Innovation and MSMEs

January 28, 2024

In anticipation of the Interim Union Budget for 2024-25, the Federation of Indian Chambers of Commerce and Industry (FICCI) has outlined a set of expectations and recommendations covering various aspects of the economy. These proposals are aimed at fostering economic growth, encouraging innovation and simplifying taxation and compliance for businesses. Here are the key

Industry

AEPC Seeks Budgetary Boost For RMG Exports

January 28, 2024

The Apparel Export Promotion Council (AEPC) has submitted crucial pre-budget proposals to the government, focusing on enhancing the competitiveness of Ready-Made Garment (RMG) exports in India. AEPC has emphasized the importance of budgetary support and has suggested key measures to fortify the apparel export sector. Trimmings and embellishments under IGCR Rules: AEPC has

Industry

AEPC Seeks Uniform GST Levies Across MMF Textile Value Chain

Textile Insights January 25, 2024

To boost local manufacturing and also clothing exports, the Apparel Export Promotion Council (AEPC), has sought uniformity in GST levies and more tax incentives in the union budget to be announced on February. “A uniform tax of five percent should be applied to the Goods and Services tax (GST) along the whole manmade fibre (MMF) […]

Industry

Bangladesh Seeks Chinese Investment In Yarn & Fabric Sector

Textile Insights January 24, 2024

The Bangladesh garment industry has sought China’s investment in textile backward linkage industries in Bangladesh that would benefit both sides. A delegation of the China Knitting Industrial Association and the China Cotton Textile Association met representatives of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) recently. The discussions

Industry

Cotton Textile Associations Submit Memorandum To Piyush Goyal

Textile Insights January 22, 2024

The Confederation of Indian Textile Industry (CITI) and other cotton based textile associations submitted a memorandum to the textiles ministry in a collective effort to address the challenges faced by the Indian cotton textiles and clothing industry. The joint memorandum submitted to Piyush Goyal, Minister of Textiles highlights concerns related to the Cotton Corporation

Industry

BGMEA President Faruque Hassan Joins Forces With Bharat Tex 2024

January 21, 2024

In a major development that is set to reshape the landscape of the textile sector, BGMEA (Bangladesh Garment Manufacturers and Exporters Association) President Faruque Hassan has announced a transformative partnership with Bharat Tex 2024, the largest global textile event in India. This collaboration signifies a strategic alliance aimed at driving innovation,

Industry

TAG Meeting Charts Growth Plan For MMF And Technical Textiles

January 21, 2024

A pivotal meeting was held in New Delhi on January 18, 2024 by the Trade Advisory Group (TAG) for Man-Made Fibre (MMF) convened under the chairmanship of the Minister of Commerce and Industry, Piyush Goyal. The gathering, attended by industry stalwarts including Bhadresh Dodhia, Chairman of SRTEPC (The Synthetic and Rayon Textiles Export Promotion Council, […]