Industry

Pakistan: Textile Exporters Oppose Tax Regime Shift, Cite Export Disruption

June 25, 2024

Value-added textile exporters have vehemently opposed the proposed transition from the one percent turnover-based Final Tax Regime (FTR) to standard taxation at 29 percent of taxable profit. They argue that such a move, if implemented through the Finance Bill 2024, would severely harm exports

Industry

GMDC Begins First-Ever Monsoon Lignite Supply To Surat Textile Mills

June 25, 2024

For the first time, the Gujarat Mineral Development Corporation (GMDC) has begun supplying lignite to 400 textile mills in Surat during the monsoon season. Previously, GMDC’s lignite mines would shut down during the monsoon, forcing mills to import lignite from abroad, primarily Indonesia, at prices two to three times higher than domestic rates. Jitendar Vakhariya, […]

Industry

Nigeria’s Textile Industry Struggles Amid Revival Efforts And Rising Imports

June 25, 2024

Nigeria’s textile industry faces severe challenges, despite revival efforts and protection policies. Once a robust sector with 180 mills and over one million workers, the industry has dwindled to just five operational mills and less than 2,000 workers. Contributing factors include large-scale smuggling, inconsistent government policies, power shortages, and high funding

Industry

CAIT Mumbai Proposes GST Reforms Ahead Of 53rd Council Meeting

June 21, 2024

Aiming at advancing the growth and efficiency of India’s GST system, the Confederation of All India Traders (CAIT), Mumbai Unit, has submitted a detailed proposal to the Hon’ble Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman, ahead of its 53rd GST Council meeting scheduled for June 22, 2024. Dilip Maheshwari, President of CAIT Mumbai, […]

Industry

Lesotho Textile Industry Faces Job Losses, Prioritizes Ethical Standards

June 19, 2024

Lesotho’s textile and apparel industry has faced a stark decline, shedding nearly 16,000 jobs from March 2018 to March 2024, as highlighted during a workshop convened by the Lesotho National Development Corporation (LNDC). Puseletso Makhakhe, LNDC’s Corporate Investment and Trade Promotion General Manager, outlined the sector’s challenges, citing reduced

Industry

President Museveni And UMA Officials Strategize To Boost Uganda’s Textile Industry

June 19, 2024

President Yoweri Kaguta Museveni convened a crucial meeting at State House, Entebbe, with representatives from the Uganda Manufacturers Association (UMA) to chart a course for revitalizing Uganda’s textile sector—a pivotal driver of economic growth in the country. In his address to UMA officials, President Museveni underscored the imperative of strengthening and

Industry

Shimmy Technologies Trains 10,000th Worker, Unveils New Expansion Plans

June 19, 2024

Shimmy Technologies, a leader in industrial education technology, proudly announces a significant milestone: the successful training of its 10,000th worker. Leveraging a cutting-edge blended learning model, Shimmy combines gamification, AI, and traditional machine training to reimagine workforce development. This approach optimizes training costs and time, meeting the

Industry

AEPC Welcomes Newly Appointed Ministers Of Commerce & Industry, And Textiles

June 16, 2024

Sudhir Sekhri, Chairman of Apparel Export Promotion Council (AEPC), extends his heartfelt congratulations to Hon’ble Minister of Commerce & Industry, Piyush Goyal, and Hon’ble Minister of Textiles, Shri Giriraj Singh, on assuming charge of their respective ministries. In welcoming the Commerce & Industry Minister, Chairman Sekhri expressed, “We are indeed fortunate

Industry

Bangladesh Textile Mills Struggle With Banks’ Tk420 Crore LC Payment Delays

June 14, 2024

Bangladesh’s textile sector is grappling with a financial crisis as banks delay payments amounting to Tk420 crore against letters of credit (LC), even after more than six months of maturity. This issue has placed 52 textile mills in a precarious situation, prompting urgent appeals for intervention from the central bank. The Bangladesh Textile Mills Association […]

Industry

Uzbekistan Secures Over $34.2 Billion In Investments From Türkiye And Saudi Arabia

June 12, 2024

Under the leadership of President Shavkat Mirziyoyev, Uzbekistan is enhancing its economic and investment partnerships with Türkiye and Saudi Arabia. Recent high-level visits and strategic meetings have resulted in agreements and projects totaling over $34.2 billion, aimed at fostering mutual economic growth and cooperation. Strengthening Ties with Türkiye During President