While welcoming the Reserve Bank of India's (RBI's) announcement of providing a framework for restructuring of MSME debt, the Indian Texpreneurs Federation (ITF) has requested the country's central bank to include the scheme as per the revised definition of MSMEs notified by RBI vide circular dated July 2, 2020, as it will benefit the spinning sector.Post-COVID-19, there is immense opportunity for Indian textile companies due to the favourable transition as preferred export destinati

The Reserve Bank of India (RBI) has extended the date for implementation of restructuring of MSME debt to March 31, 2021, from the previous December 31, 2020. The scheme offering debt restructuring is in place for MSMEs that were in default but 'standard' as on January 1, 2020. The scheme has provided relief to a large number of MSMEs, RBI said today.Pic: Shutterstock"However, the stress in the MSME sector has got accentuated on account of the fallout of COVID-19. Recognising the ne

Odd Concepts, an AI-based fashion tech company, has launched an AI style discovery platform, StyleCrush, to introduce a new paradigm in online fashion consumption to Singapore. Odd Concepts, which is headquartered in Seoul, Korea, is a fast-growing vision computing company with certified technology and performance in AI fashion marketing market.Pic: StyleCrushStyleCrush is a fashion discovery platform where consumers collect fashion style images according to their tastes in a digital album and t

According to EU estimates, the Chinese women’s underwear industry retail compound growth of 197 billion yuan is expected to be 300 million yuan by 2022. Meanwhile, China Apparel Association data estimate the scale, thanks to steady downstream customer demand, of China’s men’s underwear market at around EUR 171 billion 300 million for 2019. Men socks, thermal clothing and household garments are the other types.A significant number of Chinese clothing industry participants are involved, whose mode

Fitch Solutions believe Bangladesh’s reliance on its large ready-made garment sector for growth can both be a boon and a bane for the Bangladeshi economy over the long term. The Bangladesh garment sector will likely be among the top beneficiaries of the ongoing structural shift in low-end manufacturing out of China. However, the country’s strong reliance and constant focus on growing its ready-made garments sector could inhibit its wage growth and the country’s move up the value chain, and this

“Through the use of RFID technology, employees become digital shopping experts and advise customers on products that they themselves have not yet had in their hands,” states Stefan Otte, summarizing the reasons for the global rollout.Today, 100% of US Stores are Already RFID-enabled. Levi Strauss invented the first work trousers for cowboys, prospectors and farmers in San Francisco in 1870. The age of the robust studded trousers made of denim fabric had begun. The practical and hard-wearing work

Three large textile companies in United States – Merrow Manufacturing, ColorWorks and Bolger & O’Hearn – have come together to help meet the nation’s demand for personal protective equipment (PPE).Image Courtesy: www.cbc.caThe collaboration resulted in a quick response to the PPE demand and also addressed any future demand as the world continues to fight the pandemic.All the aforementioned companies excel in their own niche.Merrow Manufacturing and Bolger & O’Hearn based in Fall River ha

Despite the European Union (EU)-Vietnam Free Trade Agreement (EVFTA), which came into force on August 1, being considered as a great opportunity for the Vietnamese textile and apparel industry, there are concerns that the origin criteria ‘from fabric onwards’ will make it difficult for domestic products to enjoy the benefits of the trade deal.Pic: ShutterstockAccording to the commitments outlined in the EVFTA, among the key export items of the nation to the trading bloc, the EU will eliminate ta

VENTURA - US outdoor apparel brand Patagonia has launched a new campaign to promote the benefits of regenerative organic agricultural practices in limiting climate change.The company has created a new range of cotton T-shirts sourced from farms promoting sustainable agriculture methods designed to build healthier soil to act as a carbon sink.Patagonia is a founding member of the Regenerative Organic Alliance which created the Regenerative Organic Certification that reveals whether a product has

Cambodia has planned a five-year development strategy for its garment, footwear and travel bag sectors, to improve the competitiveness on the global level by working on the challenges that require more attention and development.Image Courtesy: assets.bwbx.io“This strategy is an important roadmap because it will set out a vision to transform Cambodia’s garment, footwear and bag industry into a high-value, supportive, diversified and more competitive industry,” said Finance Minister, Aun Pornmonir