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PLI scheme: A step in right direction
In September 2020, Textile Secretary Ravi Capoor informed investors that the Government of India was planning to bring a “focussed product scheme” to incentivise production of synthetic fibre-based apparel and technical textiles.
Stitching together perfect recovery strategies
Outbreak of COVID 19 has caused catastrophic global economic downturn not seen any time during The Indian Textile Journal’s 131 years of existence. Factories had to remain closed for several days due to government’s lockdown orders and when allowed to reopen, they are running at just 30-40 per cent capacity due to lack of demand.
Antiviral fabric is the new normal
COVID 19 pandemic has raised the awareness about safety and hygiene with companies fast-tracking their product development processes to meet evolving market needs. Clothing brands are also snapping it up to protect fashion consumers from COVID19.
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.
Euratex develops five flagship initiatives
The first initiative is to organise guaranteed supplies and build resilient value chains in Europe for critical PPE and other textile products to avoid an impact of this magnitude in the future.
UK-based Riva Home opens new manufacturing biz
Riva Home a home textile supplier, which is based in Leeds, has announced an expansion and opening of its new manufacturing business in Tamworth – creating over 35 new jobs and expanding its product range in preparation for growth in the years ahead.
Official transfer from STOLL to the KARL MAYER Group
With the so-called closing, the merger of the two world market leaders, KARL MAYER and STOLL, was officially completed on July 1, 2020. The relevant agreements were signed on February 26, 2020, thus, setting the course for the formation of a trans-technology global player, who changes the world of its customers and of the textile sector.
ITMF survey on impact of Corona on global textile
Between March 13-25, 2020, ITMF has conducted a survey among ITMF Members about the impact the Corona pandemic had on the global textile value chain, especially on current orders and expected turnover in 2020.
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