MARKET & ECONOMY​

The Bangladesh government has taken eight jute and textile mills back from the private sector as they violated major conditions that were set when the State-owned mills were handed over. For a long time, the authorities had kept these enterprises closed after taking them over from the government, according to the jute and textile ministry of the country.

The Vietnamese textile and apparel industry attracted more than $750 million in FDI in the first six months of 2017, mostly from investment capital increases in existing projects, despite a reduced number of FDI projects in recent years and the US withdrawal from the Trans-Pacific Partnership (TPP) last January.

Islamabad Chamber of Small Traders (IST) has lauded the decision of the Pakistan Government to provide Rs15 billion to the textile sector under the PM’s package.

Nonwoven and technical textiles have important roles to play towards the growth of the Indian textiles sector. India wants its textile sector to reach $250 billion by 2020. There needs to be growth in natural fibre, synthetic fibre, conventional and technical textiles sectors to achieve this economic figure.

“We offer value enhancing quality products and not cheap ones”: Shujaul Rehman, Chief Executive Officer, Garware-Wall Ropes Ltd (GWRL) is never tired of repeating this phrase time and again.