News

Indonesia Business Post – 24 December, 2024: The Ministry of Manpower noted that 60 textile companies may soon go bankrupt after being severely hit by financial problems since 2023 and due to the issuance of import regulations. Sixty textile companies may go bankrupt Immanuel Ebenezer, Deputy Minister of Manpower, accused …

Let the textile tussle begin – The return of Donald Trump to power in the United States and the likelihood of increased tariffs on Chinese imports, including textiles, could shift the trade dynamics between these two economic giants dramatically. If Bangladesh plays its cards right, it could emerge as a …

Indian Textile industry targets USD 100 Billion exports by 2030 – The global textile trading industry, valued at a staggering USD 800 billion, continues to be a vital pillar of international commerce. India, a key player in this sector, currently contributes USD 35 billion annually in exports. Now, the country …

Between 2001 and 2014, the sector witnessed a 9% CAGR. However, over the past 10 years, textile exports from India stagnated due to the expiry of the EU trade treaty, COVID and high channel inventories. Globally, the size of the textile trading industry is estimated at $800 billion, with India’s …

The disclosure by the Federal Government that the neglect of the textile industry has cost the country more than $30 billion in the importation of textile raw materials is a sad development. It is, however, a reflection of the sorry state of the textile industry that was previously one of …

Mumbai – The home textile industry in India is poised for 6% – 8% revenue growth in fiscal year 2025, according to a report released this week by CRISIL Ratings (formerly Credit Rating Information Services of India Limited). The forecast is based on “resilient” demand from the U.S. market and …

EuRIC Textiles, a branch of the European Recycling Industries’ Confederation (EuRIC), and the non-profit Municipal Waste Europe (AISBL), report that Europe’s textile sorting and recycling industry is facing “immense pressure” due to an oversupply of used textiles and a sharp drop in demand from traditional export markets. EuRIC Textiles and …

A number of schemes and policy initiatives as part of the government’s roadmap aim to leverage and catalyse these inherent strengths to help the textile sector achieve the USD 350 billion goal by 2030. Indian Textile Sector Sees Strong Growth India’s textiles sector is set for significant expansion, with an …

In 2023, China saw its textile exports fall by 8.1% and its clothing exports by 2.9%. But the first seven months of 2024 show a return to equilibrium, with a 1.12% rise in exports of textiles, clothing and accessories. China exported goods worth $169.8 billion in these three categories over …

Readymade garment exports rise 12% in August: Apparel Export Promotion Council Chair Sudhir Sekhri said that exports are keeping growth momentum despite global headwinds, persisting Red Sea crisis and other challenges such as high logistic costs The country’s readymade garment exports (RMG) in August rose by about 12 per cent …