The Apparel Export Promotion Council (AEPC) will hold its annual buyer-seller meet in Madrid, Spain, on October 9 and 10 hoping to raise apparel exports from India to that country.
"We have been receiving good responses to the buyer-seller meets, which we have been organizing in Spain since 2008,” AEPC deputy director C Eswarasundar said in a statement.
Since its launch in 1951, ITMA has enjoyed wide industry recognition as the world’s largest textile and garment technology exhibition. This year’s exhibition in Barcelona sees its reputation solidify further with the largest gathering of exhibitors in its history. The record number of exhibitors totaling 1,717 from 45 countries has set a new milestone.
Export of readymade garments has increased 9.25% in April-May this year compared to the corresponding period last year.
“This is clearly because of the support announced by the government in March 2019 for garments and made-ups,” said Sanjay K. Jain, chairman, Confederation of Indian Textile Industry. The Centre announced a Scheme for Rebate of State and Central Taxes and Levies (RoSCTL) in March.
Global sportswear giant Adidas aims at eliminating the use of virgin plastics in its products by 2024 — with a little help from a Maharashtra-based firm — the only one of its kind in the country to produce yarn out of discarded PET bottles.
At its first factory set up in Nashik five years ago, Polygenta Technology Limited deploys an unique technology to break down used PET (short for Polyethylene Terephthalate) bottles and convert them into polyester filament yarn.
India, which is emerging as a global textile hub with huge potential, needs to develop man-made fibre to remain competitive in the global market and it aims to be a $350 billion industry by 2025, industry officials June 6 said.
"It is high time that the industry changes its approach to move into the second growth phase and aim for exports of around $100 billion from the current $40 billion," Textiles Secretary Ajit B Chavan said at the CII Texexcel 2019, the National Textiles 4.0 Summit here.
The new government would have to rethink its policy on turning around India’s second-largest job provider, as the textile sector continues to gasp for growth. Three years after key regulatory and labour changes were put in place, India’s textile and apparel exports have declined from $38.60 billion in 2014 to $37.12 billion in 2018 while imports have increased from $5.85 billion to $ 7.31.
Melat and Rahel, both 24 years of age, completed their studies last year in the east African country of Ethiopia and landed their first job in an Indian textile company. They are among the 700-odd young men and women employed at KPR Export Plc. at Makelle, Ethiopia. They were trained at KPR’s Coimbatore manufacturing plant.
Indian Texpreneurs Federation (ITF) has appealed to all brands and retail chains operating in India to source their requirements from within the country instead of importing.
ITF’s appeal comes in the wake of a huge jump in import of readymade garments from Bangladesh.
In a strategic re-organization of its trade fair assets in India, Messe Frankfurt Trade Fairs India has announced the consolidation and relocation of its consumer goods portfolio – with leading brands coming together under one roof. The first combined edition of Interior Lifestyle India, Paperworld India and Corporate Gifts Show will take place from 19 – 22 March 2020 in Mumbai.
The USA has hiked additional tariff to 25% on US$ 200 billion imports from China, which is an opportunity for the Indian textiles industry, said CITI chairman Sanjay K Jain.
He stated that due to the ongoing trade war between the United States of America (USA) and China, the USA has hiked additional tariff to 25% on US$ 200 billion imports from China, applicable from 10th May 2019.
He further stated that the additional tariff hike covers Textile Chapters: 50-60.
