The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi has approved the capital infusion of 2000 crore for strengthening of Export Credit Guarantee Corporation (ECGC). The amount would be infused in the three financial years i.e. 50 crore in 2017-18, 1,450 crore in the year 2018-19 and 500 crore for 2019-20. ECGC, a premier export credit agency of the Government of India, provides export credit insurance services to facilitate exports from the country. the ECGC offe

The Taiwan Textile Federation (TTF) will promote sustainability, technological innovation and new functional textiles at Technotex India beginning Thursday in Mumbai. Targeting the growing Indian technical textile industry, expected to grow 20 per cent annually to touch $30 billion in 5 years, Technotex is a global platform to explore opportunities in India. Exploring new partnerships and business opportunities in the growing technical textiles sector of India, this year 10 leading Taiwanese

India’s Cotton Textiles Export Promotion Council (TEXPROCIL) is hopeful of a correction in the duty tariff on cotton yarn export to China that reduced from 603 million kg in 2013-14 to 315 million kg in 2017-18. Despite the superior quality of Indian cotton yarn, the export reduced due to a duty tariff of 3.5-5 per cent, TEXPROCIL chairman Ujwal Lahoti said.In the meanwhile, Vietnam emerged as a major competitor in the same field, taking advantage of duty free access to the country, Lahoti said.

Pantone, provider of professional colour standards for the design industry, has unveiled polyester standards for athleisure, footwear, swimwear, sleepwear and the home and fashion accessories markets, as an addition to its Fashion, Home + Interiors System. These can be used for colour management in polyester, poly-blends and other synthetic materials. These products are dyed on 100 per cent warp knit polyester. The new Pantone Polyester Swatch Set is composed of 203 new colours, rang

NuORDER, a B2B eCommerce platform, is giving access to Immediate Marketplace where brands showcase in-stock and available to sell products to ship to retailers. Immediate Marketplace was created to serve high-growth, trend-driven categories, like activewear, where retailers struggle to carry enough inventory or, in case of fitness studios, lack warehousing. As activewear continues to gain popularity among consumers, retailers are eager to stock their shelves with latest gear from the best

Algeria’s largest textile factory, the Algerian-Turkish company Tayal, recently announced it has started exporting its cotton yarn products to Turkey. Two containers weighing 25 tonnes were shipped last week from the port of Oran in western Algeria to Turkey, according to a statement by the Algerian ministry of industry and mines. The first export batch from this plant was possible after its first production phase in March, a Middle east news website reported citing the statement. Ta

Rue21, a leading fast fashion apparel retailer, and Columbus Consulting International, a leading retail consulting firm, have announced that they have partnered to develop a strategic technology roadmap for the retailer. The focus of the partnership is moving the consumer to the centre of the operations and prioritising initiatives to best serve shoppers. Key milestones for Rue21 have been outlined and they include achieving real-time inventory visibility across all channels to enable buy

Leisure sneakers dominated US footwear sales between May 2017 and April 2018, according to The NPD Group. Non-performance, athletic-inspired sneaker sales for adults were up by 17 per cent in the period over the previous year. The men’s market, comprising over 60 per cent of sales, grew 10 per cent while the women’s market grew the fastest, up 33 per cent.Sports slides were next to sneakers with a sales rise of 34 per cent, contributing the second most dollars gained in the men’s market. In

Boosting circular fashion, C&A Foundation has selected five pilot initiatives as part of its open request for proposals to bridge the gap in the implementation of circular business models at all levels of the global apparel value chain. This follows its 2017 Request for Proposals: ‘Bridging the Gap’ Implementation of Circular Economy in the Apparel Sector. The Foundation has announced €1.29 million in funding to support these initiatives. The Bridging the Gap’s partners will comp

I.Level Software has unveiled the new ASOS stock control module which lets fashion brands trade across ASOS with full stock control and logistics capabilities, reducing hours of manual work in the process. The company is a leading provider of fashion software solutions. ASOS sells cutting-edge fashion and offers a wide variety of fashion-related content. The key module features in the software includes following progress on all ASOS customer orders, creating bespoke ASOS packing lists, cre