Textile

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Profits of large and mid-scale spinners to reach all-time high in FY20…

Good days lie ahead for large and mid-scale spinning companies with their profits expected to reach all-time high in FY2022. Revenues of these companies are expected to grow in double digits while operating margins are expected to enhance by 400-600 bps as per an ICRA report. Strong demand and realization... Read more

Australia’s growing textile waste demands urgent action from companies…

The second highest consumer of textiles per person in the world, Australia discards around 23 kg textiles into landfills every year. A large part of this waste comprises non-renewable, synthetic materials that cannot be recycled. This waste is not regulated at the federal levels and requires a shift to a ... Read more

Cambodia’s garment and footwear exports surge in 2021: GMAC

Cambodia’s garments, textiles and footwear exports have surged by 10 per cent annually over the last decade. Garments industry bounced back last year after a year of decline in 2020 due to the COVID-19. Members of Garment Manufacturers Association Cambodia (GMAC) hope to mark 2021 as a year of stron... Read more

Price hike to limit China’s cotton imports, boost local consumption

Less than expected arrival of cotton bales and a 10 per cent tariff on raw cotton caused cotton prices to hit a 10 year’s high of Rs 72,000 per candy recently. As per a CCF Group report, this is a 9.57 per cent hike from Rs 65,800 per candy on December 21. It also spurred prices of Indian cotton yarn. P... Read more

India’s cotton stocks to decline by 12 lakh bales in FY2021-22: CAI

The Crop Committee, Cotton Association of India (CAI) has released its December estimate of the cotton crop for the season 2021-22. As per estimates, cotton stock in India is likely to drop by 12 lakh bales to 348.13 lakh bales against earlier estimate of 360.13 lakh bales. From October 2021 to December 2... Read more

Global cashmere clothing market to reach $3,333.6 million by 2026: Stu…

Estimated to be worth $2844.6 million in 2020, the global cashmere clothing market is expected to be worth $3,333.6 million in 2026 with an estimated growth rate of 4.0 per cent CAGR over the next five year, says Cashmere Clothing Market Report by IndustryDataAnalytics, a digital consultancy company provi... Read more

Cost-effectiveness can help Vietnam maintain competitiveness in T&…

One of the fastest growing garment and textile markets in South East Asia, Vietnam is facing increasing competition from Asian and other markets. In the fourth quarter of FY21, Vietnam was able to meet its target of $39 billion in textile and garment exports, growth of 11.2 per cent compared to 2020. Howe... Read more

New Fashion for Good project to accelerate shift to dry processing

A consortium project to bring together several innovations in textile pre-treatment and coloration has been launched by the global platform for innovation Fashion for Good. Known as e D(R)YE Factory of the Future, the project accelerates a shift from wet to mostly dry processing, reducing greenhouse gas e... Read more

Better collaboration can smoothen EU-UK trade flow: Euratex

Brexit was expected to change the European trade scenario. However, the impact it has had on textile and apparel trade between the EU and UK has been very dramatic causing significant losses for companies on both sides. The situation may worsen with full customs regime between UK and EU coming into into f... Read more

Low-skilled workers, infrastructural facilities plague Bangladesh swea…

Growing from $3 million to more than $4 billion over time, Bangladesh sweater exports have expanded with the country gaining more access to international markets. Bangladesh currently has 400 automated sweater factories that have replaced its manual hand knitting devices with automated Jacquard mach... Read more

Analyzing prices can help textile leaders avoid dispute due to new GST…

In its 45th meeting held on September 17, 2021, the GST announced certain changes in the GST rates for footwear and textiles in order to correct the existing inverted duty structure. The Inverted Duty Structure scheme entitles a supplier to get a refund of the accumulated Input Tax Credit (ITC) under the prov... Read more

New Year begins with a bang for Indian cotton industry as prices touch…

Celebrations continue for the Indian cotton industry with prices skyrocketing to record levels of over Rs 71,000 per candy in the first week of the New Year. Domestic cotton prices are currently on par with global rates, particularly those of Intercontinental Exchange (ICE) cotton fu... Read more

India: Take action against MCX, NYCE speculators, urge cotton stakehol…

Stakeholders in the Indian cotton industry have urged the Central government to take immediate action against MCX and NYCE speculators for hedging and trading of Cotton Kapas. In a letter to the Prime Minister, R C Jain, Chairman, TT Ltd writes, Piyush Goyal, Union Minister of Textile and Railways h... Read more

Vietnam leads the list global top 10 apparel sourcing countries in 202…

Just Style’s list of top 10 apparel sourcing countries to watch out in 2022 contains a mix of a few likely and unlikely suspects. Based on the ranking of GlobalData's Apparel Intelligence Center the list rates countries on the basis of 15 main factors that influence a supply chain executive’s deci... Read more

India: Review duty on cotton imports, urges SIMA

The government recently took some bold steps to address tax and raw material issues in the textile industry. First, it brought the entire textile value chain under GST net and also removed the anti-dumping duties on polyester raw materials, polyester fiber and acrylic fiber. Further, it introduced the RoDTEP ... Read more

RCEP, CCFTA to boost Cambodia’s growth post pandemic

Implemented on January 1, 2020, the two trade agreements; Regional Comprehensive Economic Partnership (RCEP) and the Cambodia-China Free Trade Agreement (CCFTA) are expected to boost the country’s economic growth in the post-COVID-19 pandemic era. As a Xinhua net report says, RCEP is a mega trade pact b... Read more

Increasing costs and competitors may hamper Vietnam’s textile growth i…

With thousands of employees quitting their jobs, 2021 proved to be an ‘unprecedented’ year for the textile and garment industry in Vietnam, says Cao Huu Hieu, General Director, Vietnam National Textile and Garment Group. Around 94 per cent of the Viet Tein Garment Corporation’s employees qui... Read more

US: Investments, production, communication to boost cotton sustainabil…

Kater Hake, Vice President-Agricultural and Environmental Research Cotton Incorporated, defines a sustainable cotton as a type of cotton that meets the current needs of human being without compromising on the wants of the future generation. Speaking at the 78th International Cotton Advisory Committee meet, ha... Read more

A new year’s gift to the industry as government defers GST hike on tex…

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

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