Trade & Market

Ocean Freight Container Shipping Market Peaks As Spot Rates Show Signs Of Easing

Textile Insights July 25, 2024

The dramatic surge in ocean freight container shipping rates appears to be reaching its peak, with importers increasingly resisting the skyrocketing spot rates. According to data released by Xeneta, average spot rates from the Far East to the US East Coast increased by 3.7% on July 15, reaching

Trade & Market

Jute Makers To See Margins Drop For Second Straight Fiscal

July 14, 2024

Operating margins of jute manufacturers are expected to shrink by approximately 50 basis points (bps) this fiscal due to wage hikes and subdued demand in the more profitable export markets. This marks the second consecutive year of declining profitability. Despite this, their credit profiles will remain stable due to strong procurement by government agencies, healthy […]

Trade & Market

New Direct Shipping Service Links India And South Carolina Ports

July 2, 2024

Ocean Network Express (ONE) has launched a new direct weekly shipping service, the West India North America (WIN) service, establishing a crucial link between India’s West Coast and South Carolina Ports. The inaugural arrival of the ONE Modern at the Wando Welch Terminal in the Port of Charleston marks the commencement of this service, according […]

Trade & Market

ITMF: High Costs And Weak Demand Continue To Challenge Textile Industry

June 25, 2024

The International Textile Manufacturers Federation (ITMF) has released the findings of the 26th Global Textile Industry Survey (GTIS), conducted in May 2024. The results indicate a persistent stagnation in the textile business climate, despite a marginal improvement in the economic situation as more companies rate their business as “satisfactory.” However, this positive

Trade & Market

India Signs 10-Year Chabahar Port Deal: Key Move For Central Asia Trade

June 14, 2024

India has signed a landmark 10-year agreement with Iran to operate the Chabahar Port, marking a strategic move to bolster its foothold in Central Asia. The deal, between Indian Ports Global Ltd. (IPGL) and Iran’s Port and Maritime Organisation (PMO), grants India control over the Shahid Beheshti terminal at Chabahar, a critical component of the […]

Trade & Market

Abaca Fiber Market Set To Grow To USD 356.6 Million By 2028

June 14, 2024

The global abaca fiber market is projected to expand by USD 356.6 million between 2024 and 2028, growing at a CAGR of nearly 13.76%. Technavio’s latest report highlights the rising adoption of abaca fiber in niche applications as a key growth driver. Despite challenges related to climate-sensitive cultivation, including extreme weather events, the market benefits

Trade & Market

Eid-Ul-Fitr Business Keeps Ahmedabad Textile Market Buzzing

Textile Insights April 8, 2024

Eid-ul-Fitr is around the corner and Ahmedabad’s textile markets are buzzing with activity. Retail demand is high, leaving the market in a bullish mode for the festival season ahead. “There has been a good demand ahead of Eid,” Gaurang Bhagat, President, Maskati Cloth Market Mahajan said. “Ahmedabad’s textile traders are reporting a significant increase in […]

Trade & Market

Surat Textile Traders Mull Agent Verification To Avert Frauds

Textile Insights March 30, 2024

In a bid to prevent frauds related to non-payment of textiles, the Surat based Federation of Surat Trade and Textile Association (FOSTTA) has introduced a standard operating procedure (SOP). The SOP mandates that agents submit their complete details in a form to traders before entering into transactions. The move aims to enhance transparency and accountability […]

Trade & Market

India and EFTA Sign Trade & Economic Partnership Agreement

March 10, 2024

India and the European Free Trade Association (EFTA) signed a Trade and Economic Partnership Agreement (TEPA) on March 10, 2024 Addressing on the occasion, Piyush Goyal, Minister of Commerce and Industry, Food and Consumer Affairs, and Textiles, stated, “TEPA marks a modern and ambitious trade agreement. For the first time, India is signing an FTA […]

Trade & Market

ITMF Report: Global Short-Staple Spindle Capacity Hits 227 Million In 2022

January 10, 2024

International Textile Manufacturer Federation (ITMF) has published its International Textile Industry Statistics (ITIS) on productive capacity and raw materials consumption in the short-staple organized (spinning mill) sector in virtually all textile producing countries in the world. The global number of installed short-staple spindles has grown from 225 million units in