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VITAS sets export mark to achieve $55 billion by 2025
The Vietnam Textile and Apparel Association (VITAS) recently announced the targets to achieve USD 55 billion from apparel exports and creating three million jobs. The targets were shared at the sixth congress of VITAS, held in Hanoi.
Garment exporters urged to tap potential in Canada
Canadian companies increasingly look at sourcing readymade garments from India and Indian apparel manufacturers have huge potential to increase its share in the Canadian market, according to Indian High Commissioner in Canada Ajay Bisaria.
CCI to boost cotton exports to Bangladesh, Vietnam
The Cotton Corporation of India (CCI), which is holding surplus stocks of cotton just ahead of the next harvest season, is trying to boost exports of the fibre crop. A memorandum of understanding is being worked out to export 1.5-2 million bales (of 170 kilograms each) of cotton to Bangladesh while the state-run CCI will also set up its own warehouse in Vietnam to boost cotton exports.
Cambodia-China enter bilateral FTA
China and Cambodia have agreed over the technical aspects and legal framework of a bilateral free trade agreement (FTA), Sok Sopheak, secretary of state at the Cambodian ministry of commerce and head of the country’s negotiating team, recently said without disclosing when the FTA will be signed.
Go beyond FTAs
According to a report of analytics firm Fitch Solutions, Asia is expected to remain a dominant player in garment production over the coming decade even as China looks to reduce its apparel manufacturing operations and move up the value chain. In spite of this, India and Indonesia, which offer low-cost cheap labour and large domestic markets, may not be able to take advantage of the situation due to the lack of conducive business conditions.
What’s happening in India’s cotton and textile sectors
Mumbai-based Cotton Association of India (CAI) estimated that this year’s Indian crop (October 1, 2019-September 30, 2020) to be 33.55 million bales (170 Kgs each) as against its previous estimate of 33 million bales (170 Kgs each). This is about 550,000 bales higher than the previous estimate.
Export curbs taking huge toll on spunbond nonwoven
The multiple restrictions on exports of Spunbond nonwoven fabric and masks, and regulation of their prices in the wake of the outbreak of Covid-19 cases since March, has taken a huge toll on the Spunbond Nonwoven fabric industry, an industry association has said and demanded that the restrictions be lifted immediately.
Swissmem celebrates 80th anniversary!
When an organisation reaches its 80th anniversary, there is a strong chance that it has survived several crises over those years. In the case of Swiss Textile Machinery, the association was actually born out of a crisis situation.