ICRA, an Indian independent and professional investment information and credit rating agency, opines that a 12 per cent (lower rate) recommended by the Dr Arvind Subramanian Committee will have a negative impact on the textile sector, especially the cotton value chain, which is currently attracting zero central excise duty (under optional route); unlike the man-made fibre sector, where the fibre attracts excise duty at the manufacturing stage (unlike cotton).

Vietnam’s local media has reported that textile and garment industries in the country likely to miss their export target for 2016, due to reduced competitive ability and lack of export orders.

Smriti Irani has announced the launch of a national helpline for weavers that would also be a census of concerned workmen. She made the announcement at the second National Handloom Day celebrations at Banaras Hindu University. The helpline, to be headquartered at the Ministry of Textiles, will enable weavers to lodge complaints with the minister directly and also give suggestions for development of the handloom sector.

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) drawn up an ambitious blueprint achieve $50 billion export earnings by 2021 from the apparel sector.

The India’s Ministry of Skill Development and Entrepreneurship (MSDE) and the Ministry of Textiles have signed a memorandum of understanding (MoU) to develop the Indian handloom industry with skill development.

Surat, which is famed to house India’s largest man-made fabric (MMF) hub, is in for bad times with the Indian Finance Ministry’s decision to impose definitive anti-dumping duty on purified terephthalic acid (PTA) imports from China, Iran, Taiwan, Indonesia and Malaysia.

A recent study by Boston Consulting Group reveals 50 per cent of Millennials believe brands ‘say something about who I am, my values, and where I fit in,’ while a recent Nielsen study found that three out of four Millennials – a coveted audience for any apparel company – are willing to pay extra for sustainable product offerings. Fashion brands that ignore the clear preference of Millennials for sustainable products and the business opportunity this presents do so at their peril.

The Union Textile Minister Smriti Irani has announced the launch of a national helpline for weavers that would also be a census of concerned workmen.

Technosmart, a new revolutionary fabric from Raymond is expected to boost the company’s fortunes with the management targeting a business of Rs 100 crore in the next one year.