Sri Lanka’s deficit in the trade account has been on a continuous expansion, but the pace at which it grew during the month of May decelerated after many months, as the country’s goods exports grew faster than its imports bill.
Browsing: Industry Update
The ongoing trade war between the US and China will be beneficial for Bangladesh’s garment sector as the American brands will place more work orders here to branch out their sourcing, according to a new survey.
Growth in the fair and growth in the market: exhibitor and buyer increases at Intertextile Pavilion Shenzhen, which concluded recently, reflected the strength of the Southern China fashion sector.
Archroma, a global leader in color and specialty chemicals towards sustainable solutions, has announced collaboration with Ternua, an outdoor brand with a strong connection to nature.
Based on the mechanism of the recently unveiled, patent-pending instant cooling hydro functional polymer, the Swiss textile innovator HeiQ has announced that a suite of new products will be added to the HeiQ Smart Temp product family for a full range of activated cooling technology, customizable for each fabric type and intended cooling performance.
The Government of India’s decision to increase basic customs duty (import duty) to 20 per cent on 76 textile and apparel items at 6-digit level, is a significant move and will strengthen the domestic textile industry, The Synthetic & Rayon Textiles Export Promotion Council (SRTEPC) has said. The duty has come into effect from July 16, 2018.
Presently the Indian textile engineering industry is fulfilling only 45-50 per cent requirement of the domestic market of Rs 15,000 crore, while exports about Rs 6,500 crore worth textile machines and accessories. It has targeted to reach to Rs 25,000 crore by 2025.