In this interview, Chirag Pittie, Director, SVP Global Ventures Ltd, highlights on the changing dynamics of the spinning industry in India and how his company is gearing up for the future.
Search Results: exports (2587)
US companies are giving tough time to Vietnamese garment producers by not clearing their dues. For May Song Hong, dues outstanding with the American companies have risen by 19.5% in the first quarter.
The USDA has projected India’s cotton production for the upcoming season at 37.8 million bales. The Indian textile industry says a lot of it depends on the southwest monsoon.
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.
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.