The National Board of Revenue is likely to reduce source tax on proceeds from all export items, including apparels, to 0.25 percent to help increase competitiveness of local products in international markets.An NBR annual report mentioned that the tax authority got Tk 2,136 crore in fiscal 2016-17 from the source, up 17 percent from Tk 1,811 crore a year ago. The tax cut will cause a loss of quite a good amount of revenue.Figure: Source tax on apparel exportto be cut so that entrepreneurs can im

The ongoing trade war between the US and China has been an opportunity for Bangladesh in enlarging export earnings from the United States of America.Since the apparel sector contributes 84.20% to the total export earnings, the opportunity to capitalize on the conflict was driven by the RMG sector.Figure 1: Bangladesh should give importance on product development and diversification to grab more market share.The sector has already seen a sharp rise in export earnings from the US market and more o

Denim has become the ultimate engine of self-expression worldwide. Denim trends have evolved a lot over time, but its popularity never waning. And globally the denim consumers are on the lookout for perfect fitting denim jeans.Figure 1: Perfectly fitted jeans with zero-waste. Courtesy: Unspun, a venture-backed robotics and apparel company, based in San Francisco and an office in Hong Kong as well, making custom jeans for each consumer on-demand.As customer choices are in the super-fast mode, kee

The apparel industry, like any other industry, is undergoing a revolution which is termed as apparel 4.0. It can be explained as the digitization of textile and apparel industry processes, from concept to post retail, with the help of the latest technology such as IoT, AI and Cloud Computing, enabling companies to monitor and automate the entire production process with complete supply chain transparency.Figure 1: Bangladesh’s textile and apparel industry entering its automation phase.Coming to B

Selvedge denim production in the United States is going to be revived from this month, which is an initiative of, an agile North American textile maker.Backstory, the last and most famous selvedge denim mill in the U.S. closed.denim mill in Greensboro, North Carolina, named White Oak, announced it would fold due to a lack of orders at the end of. With the closing the American made denim came to an extinction leaving a dearth of mills left in the U.S.Vidalia Mills’ road to revive the production o

Culp, Inc's board of directors has elected Robert G Culp, IV, currently the company's president, chief operating officer and president of Culp Home Fashions, to become chief executive officer, effective January 1, 2020. At that time, Franklin N Saxon, Culp's current chairman and chief executive officer, will assume the new role of executive chairman.Pic: CulpIv Culp will assume Saxon's responsibilities for operations of all the company's divisions. Sandy Brown and Boyd Chumbl

Andhra Pradesh is making efforts to promote quality silk production by incentivising silk-rearing units, state agriculture minister K Kannababu told a recent meeting of reelers and farmers organised in Chebrolu village in East Godavari district by the Central Silk Technological Research Station, the Central Silk Board and the state department of sericulture.Mulberry plantations will be encouraged under the National Rural Employment Guarantee Scheme (NREGS) and a training centre will be establish

Freudenberg Performance Materials has come out with new thermal insulation - comfortemp fibreball padding – the first ever padding made from fibreballs which unites the benefits of loose down filling and padding with high level of quality. The material insulates 80 per cent better than conventional padding even though it is as light and soft as down.The special thermal insulation by Freudenberg Performance Materials is soft, warm, breathable, durable and sustainable. A material that benefits bot

The cellulose-based natural fibres produced by Cordenka, a partner of BÜFA Thermoplastic Composites, have received confirmation of their biodegradability from TÜV Rheinland. The certifications for compostability of cellulose fibres confirm that Cordenka’s multifilament yarns are biodegradable in industrial and natural environments, i.e. in soil and compost.For the certification, different properties were tested, such as metabolism and disintegration under industrial composting conditions. In add

Evonik Venture Capital is investing in a start-up, Modern Meadow, which sustainably produces biofabricated materials that closely resemble leather, eliminating the need for animal skins. Modern Meadow has developed a technology to produce animal-free collagen, a protein naturally found in animal hides. The process involves fermentation using yeast cells.The investment in the start-up, based in Nutley, New Jersey, follows a successful partnership between the two companies in which Evonik is suppo