For the development of textile sector, Pakistan government has approved Rs 185 million under Export Development Fund (EDF) The meeting of EDF was held under the chairmanship of secretary of Ministry of Textile Industry, which approved various development projects for promotion of textile sector and boost its exports. As per reports, the allocations of Rs 100 million has been approved for washing facilities in Karachi garments institute, while Rs 75 million was also approved by the EDF for

Numerous Indian firms are seeking opportunities to export their garment-textile machines to Vietnam. Executive Director of the India International Textile Machinery Exhibitions Society (India ITME Society) Seema Srivastava made the remark while introducing the 2016 International Textile Machinery Exhibitions (ITME 2016) in Ho Chi Minh City on October 7. India wants to expand its investment in garment-textile machinery and technology overseas, including Vietnam, she said, adding that this i

‘The production in factories fell by at least 40% because of gas shortage’ Gas crisis in the garment backward linkage industry has hit hard the production in factories, which is likely to affect the apparel export of Bangladesh, said people involved with the sector. According to Bangladesh Garment Manufacturers and Exporters Association (BGMEA), there are about 150 backward linkage factories of washing, dying and knitting in the country. They are located in Gazipur, Savar, Ashulia and M

The Ministry of Industry and Trade has submitted a proposal to Prime Minister Nguyen Xuan Phuc suggesting solutions to issues raised by the Vietnam Textile and Apparel Association (VITAS). This includes a proposition to abolish inspections of formaldehyde content in textiles and garments. VITAS said the current regulation on this inspection has no legal grounds, and is costly and time-consuming. The ministry has recommended that the directive be abolished and instead, a national technical sta

China’s GDP growth is projected to be 6.6 percent in 2016 before moderating to 6.2 percent in 2017, the IMF forecast in its newly-released World Economic Outlook and Global Financial Stability Report. The reports, released ahead of the annual meeting of IMF and WB in Washington next weekend, gave positive comments on Chinese economy, saying that thanks to its previous policies to stabilize growth, China is expected to continue a relatively rapid growth. The latest reforms launched by Chine

The Chinese yuan's inclusion in the International Monetary Fund (IMF)'s Special Drawing Rights (SDR) basket from Oct 1 is crucial for the currency's globalization, said an Argentine economist. In an interview with Xinhua, Jorge Castro, director of the Institute of Strategic Planning in Buenos Aires said the yuan is the only currency in the SDR that comes from a developing nation and that its new status will help create a more multipolar economic order. "The permanent inclusion of the yuan

Cotton prices remained under pressure on Saturday in line with global trend. The underlying sentiment also remained easy and outlook uncertain. Floor brokers said cotton prices moved lower in sympathy with global trend. Brokers refuted media reports about any slump in cotton imports from India, saying that at this time of season the arrivals of Indian cotton crop have just started and there was no question of entering into any deal at this juncture. Karachi Cotton Brokers Forum Chairman

The Ministry of Industry and Trade has submitted a proposal to Prime Minister Nguyen Xuan Phuc suggesting solutions to issues raised by the Viet Nam Textile and Apparel Association (VITAS). This includes a proposition to abolish inspections of formaldehyde content in textiles and garments. VITAS said the current regulation on this inspection has no legal grounds, and is costly and time-consuming. The ministry has recommended that the directive be abolished and instead, a national technical st

International Finance Corporation and VF Corporation are working together to enhance the long-term competitiveness and sustainability of the textile wet processing sector in Bangladesh by reducing excessive groundwater extraction and surface water pollution, energy and chemical use The project will be carried out by IFC’s Bangladesh Partnership for Cleaner Textile (PaCT) programme, said IFC in a press release. VF Corporation joins 12 other brands in the PaCT family bringing the total partn

Global consumption of apparel products has slipped by 7.92% in 2015 to $445 billion since 2008 economic recession The developed countries witnessed the consumption fall in the wake of gloomy economic situation. According to World Trade Organisation (WTO) data, global consumption of RMG products came down to $445 billion, which was $483.28 billion in previous year. After the economic recession in 2008, the global consumption of clothing products witnessed a decline by 13.23% to $315.51 b