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Apparel exports of Bangladesh show growth
Bangladesh’s apparel exports to the United States bounced back during the first five months of 2021, registering a double-digit growth both in terms of value and volume compared to the same period of last year.
Interloop to invest $300 mn in apparel unit in Pakistan
Pakistan-based apparel manufacturers Interloop plans to setup a new factory to expand its production. Expecting to meet the rising demand from the foreign markets, the company aims to double its revenues by FY2026.
COVID crisis: Textile exports fell by 13% in FY2020-21
The provisional data of the Cotton Textiles Export Promotion Council revealed that the exports of readymade garments and manmade textile declined by 20.78% and 21.20%, respectively. The final data is expected by May end.
Soaring raw material prices hurt Noida’s garment sector
COVID-19 has severely affected the garment industry, with exports dropping and 20% of people losing their jobs. AEPC has requested the government for an essential service tag that will free them from lockdowns.
India’s textile & apparel industry
The global apparel demand is expected to boost at a steady CAGR of 5 per cent to grow from the current $1.9 trillion to reach $2.6 trillion by 2025.
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 cos call for FTAs with EU, UK, US, Australia
Readymade garments exporters have asked the government to expedite free trade agreements with high potential markets such as the EU, the UK, the US, Australia and Canada which could lead to exports doubling in three years’ time.
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