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Related Keywords: 000 spindles, Alif Industries, as part of efforts, capacity of running 50, company will raise capital, expand its business in the garment sector, knit-based factory, main focus is to develop backward linkage industry, plans to invest Tk 400 crore, produce yarn, readymade garment sector, reduce import dependency, set up a spinning mill

Alif Industries a knit-based factory to produce yarn as part of efforts to reduce import dependency plans to invest Tk 400 crore to expand its business in the garment sector. The main focus is to develop backward linkage industry in the readymade garment sector.

The company will raise the capital to set up a spinning mill with the capacity of running 50,000 spindles and another green plant consisting of 25 production lines to manufacture woven denim.

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: Bangladeshi textile industry, Chemical Environmental Management, GIZ, Huntsman, readymade garment sector, Textile chemical, textile factory

Bangladesh’s textile industry is the nation’s largest export sector. Bangladeshi textile factories are now taking environmental issues more seriously as regulatory requirements become stricter and the economic benefits of sustainability become more widely recognized.