Pakistan-based apparel manufacturers Interloop plans to setup a new factory to expand its production. Expecting to meet the rising demand from the foreign markets, the company aims to double its revenues by FY2026.
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Bangladesh’s apparel exports to the US sustained a negative growth of over 8% YoY and fetched $1.53 billion in January-March 2021, down from $1.67 billion in 2020. The exports from China and Vietnam saw positive growth.
A study titled ‘Weakest Link in Global Supply Chain: How the Pandemic is Effecting Bangladesh Garment Workers’ revealed that 80% of the readymade garment manufacturers in the country are struggling because of the pandemic.
In spite of the pandemic situation, the SM Group has shown some hope by setting up a new RMG accessories factory that will provide more jobs, boost export, and improve the country’s economy in the near future.
Benefits of automation are clear and visible. However, capital intensive nature of the textile industry and lack of availability of funds are hampering adoption of automation in India. But Indian textile industry has no choice but to invest in modern technologies to stay relevant in the global textile value chain, says Rakesh Rao.
While Indian spinners are benefiting from the higher global cotton yarn demand at present, the re-emergence of the Covid 19 pandemic could play a spoilsport, says Rakesh Rao
In this interview, Vinod Kumar Gupta, MD, Dollar Industries Ltd, says that the work from home (WFH) norm and the prevailing pandemic are helping athleisure/comfort wear gain immense popularity.