Bangladeshi footwear and leather goods exporters are bracing themselves for tough competition in the global market after the Indian government recently announced a mega financial incentive for the sector's revival. Both the countries export footwear and leather goods to the same destinations like the EU, the US and Japan. The Indian government has announced a special package worth $404.7 million (about Tk 3,338 crore) from fiscal 2017-18 through to fiscal 2019-20 for employment generation

Textile exports witnessed over 7 percent growth during seven months (July 2017 to January 2018) of the current fiscal year due to PM’s incentives package and rupee depreciation against the dollar. The country exported textile and clothing products worth $7.7 billion during July-January period of the year 2017-18 as against $7.2 billion of the corresponding period of the previous year, according to the Pakistan Bureau of Statistics (PBS). Healthy growth in textile and clothing products exports

The revenue of Michael Kors Holdings Limited, a global fashion luxury group, for the third quarter of fiscal 2018, has increased 6.5 per cent to $1.44 billion, including a $114.7 million contribution from Jimmy Choo, which the company owned for two months of the quarter. On a constant currency basis, the total revenue increased 4.6 per cent. For the reported period, the company's gross profit increased 9.7 per cent to $884.0 million, and as a percentage of total revenue was 61.4 per cent. Adj

The orders index for textile machinery compiled by ACIMIT, the Association of Italian Textile Machinery Manufacturers, registered an average increase of 18 per cent in 2017, compared to the previous year. While domestic orders were up significantly by 36 per cent, foreign markets also registered an increase of 16 per cent in orders for the entire year. For the period from October to December 2017, the orders index rose by 29 per cent compared to the same period for the previous year. The inde

Production of raw cotton in Iran during the ongoing Iranian year is expected to touch 160,000 tons, according to Iran Cotton Fund. This would yield between 45,000 and 50,000 tons of ginned cotton. In the current Iranian year beginning March 21, 2017, around 124,550 tons of raw cotton has already arrived in the market and bought by ginning factories. Last year, Iran’s ginned cotton production was around 40,000 tons, Iran Cotton Fund managing director Mohammad Hossein Kaviani was quoted as sayi

Bangladesh State Minister for Finance MA Mannan, attending the inauguration ceremony of the 15th Dhaka International Textile and Garments Machinery Exhibition, being held at the capital’s Bangabandhu International Conference Center as the chief guest said the Textile is the mother of industries and that the government will do everything possible to boost the country’s textile industry. The state minister also urged for assistance from the business community to help the government achieve these g

The Australian wool auction markets week ending February 9 witness return of a positive trend as sales accelerated significantly with most merino wool types on offer verging on a full 100ac clean/kg dearer by the close of selling, with some individual lots advancing 150 to 200ac. Crossbreds were by no means neglected either, as these wools all headed 50 to 70 ac higher. In a staggering week of good fortune for wool growers who were selling, the Australian Wool Exchange-Eastern Market Indicato

Brazil’s textile industry has reported an overall growth in sales of 3.2% for 2017, and even bigger increases are forecast for the year ahead. The latest data from the Brazilian Textile and Apparel Association, ABIT (Associação Brasileira da Indústria Têxtil e de Confecção) predicts an overall growth in revenues of 3.29% for the year 2018. Brazil textile sector revenues for 2017 grew by Brazilian Real BRL7 billion (US$2.1bn) to a total of BRL144bn (US$45bn) for the year. Activity was boosted in

Cross-border e-commerce trade has been flourishing in China, with turnover rising 80.6 percent from a year earlier to 90.24 billion yuan last year. The average annual growth rate for the past three years is more than 50 percent, said Yu Guangzhou, head of China's General Administration of Customs (GAC) Friday at the first Global Cross-Border E-commerce Conference in Beijing. China's e-commerce exports surged 41.3 percent to 33.65 billion yuan last year, while imports rocketed by 116.4 perc

Communist Party of China (CPC) central committee general secretary Xi Jinping has called for making development of a modern economy a key topic in theory and practice, a strategic development goal and an imperative for economic structure shift to push development to a new level. He told this to the political bureau of the 19th CPC central committee recently. Only a modern economy can help China better adapt to global trends, compete globally and support modernisation of other fields, Xi said