MARKET & ECONOMY
Hyosung, a leading elastane manufacturer, has announced Smart Factory System to increase product quality and boost capacity at five creora spandex factories.
Hohenstein, a testing service provider and research partner in the textile industry, has opened a new textile testing laboratory in Gurugram.
The All India Textiles Directory (AITD)â€â€a renewed attempt by the Indian Textile Journalâ€â€was unveiled by Ajit Chavan, Secretary, Textile Committee, Ministry of Textiles, during the 3rd IPF Excellence Awards 2018, which was held at National Stock Exchange on December 13, 2018.
The Tiruppur Exporters’ Association (TEA) is dismayed on the reduction of duty drawback rates on apparel items. In this revised list, the government has reduced rates for value-added ready-made garments while improving rates for raw materials like cotton, yarn and fabrics.
Welcoming the new duty drawback rates, the Cotton Textiles Export Promotion Council (TEXPROCIL) said the revision will boost the exports of cotton textiles.
The Indian Government has marginally increased duty drawback rates for several textile items, applicable for the year 2018-19. However, there is a marginal decrease in the duty drawback rates of apparel items.
Global yarn production increased by 5 per cent between Q1/18 and Q2/18 whereas global fabric production decreased from Q1/18 to Q2/18, according to the ITMF (International Textile Manufacturers Federation) State of Trade Report 2018.
Allcargo Logistics has signed a Memorandum of Understanding (MoU) with JNPT and CIDCO wherein Allcargo will set up the operations, maintenance and management of a Skill Development Centre in Bokadveera, Uran near JNPT.
Archroma, a global leader in colour and speciality chemicals towards sustainable solutions, has announced that Thailand-based Absolute Denim will be the first denim manufacturer to switch 100 per cent of its production to aniline-free indigo dyeing.