MARKET & ECONOMY
The Uttar Pradesh Government is likely to sign an agreement with textile major Raymonds to supply indigenous fabric for modern retail. The UP Khadi Board has already provided fabric samples to Raymonds, which is expected to procure 2,00,000 metres of UP Khadi annually.
Pham Xuan Hong, president of Ho Chi Minh City’s textile association, recently urged Vietnam’s textile industry to source raw materials from Malaysia and India while the coronavirus storm gets over in China.
German and European manufacturers of laundry and textile cleaning technology are optimistic as they look forward to Texcare International which opens its doors from June 20 to 24 in Frankfurt, Germany.
At Texcare International, from 20 to 24 June 2020, the world’s market leaders will be showcasing their innovations, all designed to help optimise the procedures and processes in textile care.
Uttar Pradesh Government is likely to sign an agreement with textile major Raymonds to supply indigenous fabric for modern retail.
As part of its growth strategy, the KARL MAYER Group has concluded an agreement to acquire the STOLL Group.
The renowned tradeshow on garment textile machinery ‘Gartex Texprocess India’, which is held annually in New Delhi, is all set to mark its launch in Mumbai in March 2020 owing to the demand generated by garment and textile manufacturing industry in Indian and overseas markets.
A village in the deep south of India starts manufacturing nonwoven shopping bags as part of “self-help†effort. Azhvarthirunagari, a village on the southeastern border of India, about 30 km from seashore is using nonwoven fabrics to manufacture multiple use shopping bags.
The Government’s decision to withdraw the Merchandise Exports from India Scheme (MEIS) with retrospective effect is likely to erode profit margins of textile players. It will also impact exports and fresh investment in the sector.