The textile industry has expressed solidarity with the Centre’s goal to promote India as a cashless economy. Supporting the decision, representatives of the textile industry across the country are encouraging the workers to open bank accounts. As a result, salary payment will be done either through cheque or directly into their bank account. A majority of the workforce has already opened bank accounts, while others are in the process, said the representatives of the textile industry. “The

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Abdul Rauf Alam while speaking to Ambassador of Lebanon to Parkistan Mona El Tannir, urged Pakistan business community to explore the untapped trade potential of Lebanese market. Abdul Rauf also asked the government to take steps to promote greater economic cooperation which will bring masses of the two countries closer. Abdul Rauf Alam briefed the ambassador about the functions of trade bodies in Pakistan and invi

Egypt’s biggest manufactured exports are garments and textiles. The industry suffered badly since the central bank began pegging the pound against the dollar after Egypt’s uprising in 2011, pricing its products out of the international market. The problem became more acute as currency controls tightened over the past couple years, with exports of garments plummeting by 14.7 percent in the year to end of June and those of cotton textiles by 7.2 percent, according to central bank figures. The

Once known for producing carpets, the township of Cuihuangkou in North China's Tianjin municipality has found new economic life as an e-commerce base. Cuihuangkou is currently home to about 400 carpet companies, which provide jobs for 25,000 people. The town's carpets have been exported to more than 50 countries and regions, accounting for 40 percent of the country's export volume. "The carpet companies in our town once focused on processing products for export, so their income mainly ca

The value of carpet exports from Nepal has fallen by 6.8 per cent in the first three months fiscal year 2016-17 to Rs 2.07 billion, compared to exports of Rs 2.22 billion in the in the first quarter of last fiscal. In terms of quantity too, carpet exports have dropped by more than 20 per cent to 133,000 square metres in the first three months of 2016-17. Explaining the reason for decrease in carpet exports, Anup Bahadur Malla, chairman of Export Promotion Committee of Federation of Nepalese

Teijin Limited, a technology-driven world leader in aramid fibres, has announced the launch of Xfire Denim, a practical and fireproof denim-like aramid fibre fabric for firefighting uniforms. The new aramid fabric is expected to meet the growing demand for extra-manoeuvrable clothing for volunteer fire corps. Sales of Xfire Denim will begin this month. Japanese manufacturers will start selling uniforms for fire corps made with Xfire Denim in 2017. Made with Teijinconex meta-aramid fibre, X

Cotton market on Tuesday witnessed modest trading activity, dealers said. The official spot rates unchanged at Rs 6250. According to the market sources, arrival of quality lint was slow, which caused sluggish demand by leading mills and spinners. As per dealers, the seed cotton prices in Sindh were at Rs 2600-3200 and in Punjab rates were at Rs 2800-3400, per 40 Kgs. Cotton analyst, Naseem Usman said that the cotton yarn market continues to be sluggish, it looks that present trend may ma

Since entering the World Trade Organization (WTO) 15 years ago, China has witnessed robust economic growth, and an increasingly prosperous China has created significant opportunities for countries around the world. China joined the WTO as its 143rd member on Dec. 11, 2001. Since then, the country has grown into the world's second-largest economy and largest trading country, while millions of Chinese have been lifted out of poverty. Changes for the Chinese include buying cheaper cars, enjoy

Vietnam’s textile and garment exports this year are estimated to reach US$28.5 billion, meeting roughly 92% of the set plan due to market difficulties, the Vietnam Textile and Apparel Association (Vitas) reports. According to the association, the industry’s largest export market in 2016 remains China, which accounts for more than half of the industry’s export value. Exports to the US this year are also estimated at $11.4 billion, up 4% against last year. The EU, Japan, India, Brazil, Ru

India has been witnessing a steady rise in the export of handmade carpets and floor coverings since last three years. Carpet exports increased form Rs 7108.31 crore in FY13-14 to Rs 8441.95 crore in FY14-15, and then to Rs 9481.36 crore in FY15-16. In the ongoing financial year 2016-17, carpet exports have already touched Rs 5786.85 crore till October. The data on India’s carpet exports was given by Union textiles minister Smriti Irani in a written reply to a question in Rajya Sabha last wee