To boost recovery of China’s cotton market, Beijing aims to buy half a million tons of Xinjiang cotton for state reserves. China’s cotton market has been on decline ever since US announced ban on cotton made in Xinjiang.
Beijing has announced plans to buy between 300,000 and 500,000 tons of Xinjiang cott... Read more
Despite being confronted by unfavorable conditions, Nepal, has made significant socio-economic progress in the last few years. However, it has demonstrated an absurd growth curve where below average economic growth is being supported by a sharp reduction in poverty. As per a report by Himalaya Times, in the l... Read more
Smiles are back on the faces of textile industry leaders as the GST Council has unanimously deferred its proposed hike to GST rates on textiles. The GST rate hike on textiles from 5 to 12 per cent was to come into effect from January 1. The decision to defer the hike was made at the 46th meeting of the GST Co... Read more
For decades, suppliers have been made a scapegoat by fashion companies and the same is true during COVID-19 as well. Taking undue advantage of the ongoing pandemic, companies have either been exploiting the loopholes in their contracts to cancel orders or voluntarily changing the terms of supplier agree... Read more
"The recently approved Textile Policy 2020-25 of Pakistan sets an ambitious target of increasing the country’s textile exports to $28 billion by 2025. To achieve this target, the country aims to boost cotton production from nine million bales to 20 million bales within five years. It also aims to improve the qual... Read more
"The Department for Promotion of Industry and Internal Trade (DPIIT) recently clarified that single brand retailers, owned by foreign companies, can fulfill their local sourcing requirements by procuring goods produced in units based in special economic zones (SEZs). It further clarified these goods to be sourced by th... Read more
Since the last few years, the Indian textile industry has been facing problems like technological obsolesce, high input cost (power & capital), poor access to credit, fragmented units, absence of fiber neutrality etc. To address these issues, the government has been implementing various schemes over the years.
It ... Read more
"UK Trade Policy Observatory foresees, Brexit to impact the manufacturing sector which would lead to a significant drop in exports. However, continental manufacturers and retailers fear that UK operating outside the regulatory sphere of EU will be at an unfair advantage. Britian want to finalise this trade deal within ... Read more
An independent third party inspection service company, RSJ Inspection works as a quality control partner for securing Indian imports. The company was recently accredited as the rating agency for the zero defect initiative (ZED) launched by the Indian government. Sarath Chandran, Director of the company elaborates on th... Read more
"United States will reduce the 15 per cent tariffs imposed on a wide range of Chinese consumer goods by half and also cancel another round of tariffs implemented in December. On its part, China will buy an additional $12.5 billion worth of agricultural products from the US in the first year and $19.5 billion worth of g... Read more
"The garment industry in Myanmar has grown significantly in the past five years, from an export value of $900 million in 2012 to $4.37 billion in the first 11 months of FY 2018-19. The country now aims to reach an export value of $10 billion garments by 2024 besides creating over a million jobs for its unskilled and se... Read more
"The subsidies given by its government and loans granted with low interest rates helped the Chinese textile industry to emerge as one of the top industries in the world. This coupled with zero per cent duty through the RCEP free trade agreement is likely to provide China with an open market, affecting medium and small ... Read more