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Related Keywords: Clothing Manufacturers Association of India, duty free entitlement, embellishment, import of trimming, readymade garment sector, textile export, Walmart

Finance Minister Arun Jaitley’s announcement of duty-free entitlement for import of trimmings, embellishments and other specified items to five percent of the value of their exports, from the current three percent is a good boost for the readymade garment sector of India.

This move will help Indian manufacturers to compete with other countries in getting more orders from global retail sourcing entities, such as Walmart. As it will help bring down the cost of readymade garments meant for export by two to three percent.

Related Keywords: Bangladesh, bilateral trade and investment, Free trade agreement, imports cotton, jute, jute goods and readymade garments, textile processing raw materials, Turkey

Bangladesh seeks to sign a free trade agreement (FTA) with Turkey to boost bilateral trade and investment. A high-powered Bangladesh delegation headed by an additional secretary of the ministry will be in Turkey early August seeking to increase bilateral trade and investment between the two countries. They would be negotiation over signing of a FTA with Turkey for mutual benefits.
 

Related Keywords: consumer, integrated fiber company, INVISTA, Lycra, man made fiber, rebranding, trade

Invista, the world’s largest integrated fiber company, is planning rebranding its man-made fiber line, Lycra. The brand’s high consumer awareness is one of Invista’s most important assets. The company is rebranding Lycra to consumers with the message, “Lycra Moves You.” The new slogan will enhance the three benefits associated with the Lycra brand: freedom, comfort and movement.
 

Related Keywords: cotton transport, exemption of service tax, ginned or baled, GTA, Indian Cotton Federation, Indian textiles and clothing industry, Southern India Mills’ Association

Indian Cotton Federation hails over the announcement made in the budget, exempting of service tax on loading, unloading, packing, storage or warehousing, transport by vessel, rail or road (GTA), of cotton, ginned or baled. It is a welcome move and in the right direction.
 

Related Keywords: budget, industrial development, job opportunity, Mysore, seven smart cities, special economical zone, special purpose vehicle scheme, Textile Park

The textile park to be set up in Mysore, announced in the budget on Thursday has been welcomed and termed it as industry-friendly and supports overall industrial development of the country, said the Mysore Industries Association (MIA) and Mysore-Kodagu MP Pratap Simha.
 
Member of Parliament (MP) from Mysore-Kodagu Pratap Simha said that the textile park in Mysore is expected to create job opportunities for more than 10,000 people and help in the economic development, besides attracting huge investments and infrastructure development in the Mysore region.

Related Keywords: bedding, craft and seasonal market, Empire Investment Holdings, furniture, management buyout, nonwoven, nonwoven polyester materials products, Polyester Fibers LLC

Polyester Fibers LLC, North American the largest and most flexible manufacturer and distributor of value-added, high-loft nonwoven materials has been sold in a management-led buyout from its parent company Empire Investment Holdings.
 
Salem Investment Partners and JPMorgan Chase provided funding and advice for the purchase from Empire Investment Holdings.
 

Related Keywords: handicraft, handloom, National Heritage City Development and Augmentation Yojana, six textile mega-clusters, Textile Industry, Trade Facilitation Centre and a Crafts Museum

This budget, handloom industry gets a major push and the most important point was that it has identified handloom as handicrafts. In the past, it was recognized as a mass production tool and all policies were getting disturbed.
 
Finance Minister Arun Jaitley’s announcement of setting up six textile mega-clusters, including one in Tamil Nadu, with a keen focus on reviving handloom will provide a the much-needed fillip to the industry.
 

Related Keywords: Alpek, BASF, business units, caprolactam, joint venture, Polioles, polyester, Purified terephthalic acid

BASF SE German giant and Alpek SAB de CV, the petrochemicals arm of Mexican conglomerate Alfa Group have entered into an agreement that changes the business units of their 50-50 Polioles SA de CV, joint venture in Mexico.
 
Polioles S.A. de C.V. is a petrochemical company that manufactures and markets a range of chemical products. It has five business units: chemical specialties, estyropor, polyurethane, industrial chemicals and PUR's, as well as two plants located in Altamira and Lerma. It is a subsidiary of "Alfa Group" and "BASF AG".

Related Keywords: Aditya Birla Group, Birla Cellulose, co-branding, domestic market, double digit growth, fabric and garment brands, fibre division, Liva range.

Aditya Birla Group’s fibre division, Birla Cellulose is focusing on the domestic market for co-branding its Liva range and to ink tie-ups with more fabric and garment brands after having witnessed double digit growth in consumption of its Liva range.
 

Related Keywords: China plue one policy, material supplier, reliance on China, TPP, Vietnamese textile and garment companies, yarn forward

China plus One or China +1 is an international business strategy that consists of the expansion of one company's current operations in China, to another country having low wage rate, strong infrastructure and a suitable atmosphere for business. China plus one, strategy is followed by Japanese investors over the last many years as well. Vietnamese textile and garment companies want to take up the “China plus one” policy in an effort to escape reliance on China as its biggest material supplier.