In addition to leveraging technology, clothing brands are increasingly focusing on sustainability as a cost optimisation strategy, says Alina Kisina. In the highly competitive fashion industry,…
Browsing: brexit
Latest trade data (January-September 2021) show a dramatic drop of imports and exports of textile goods between the EU and UK, with significant losses for companies…
Manoj Patodia, Chairman, The Cotton Textiles Export Promotion Council (TEXPROCIL) states that the Government of India should take immediate steps in formulating a Free Trade Agreement (FTA) with the UK.
Ghana’s high commissioner to the United Kingdom Papa Owusu-Ankomah recently urged Ghanaian garment and textile manufacturers to take advantage of the opportunities in the UK and European markets following Brexit.
I nnovation, sustainability, fabrics of the future, reshoring, and the impact of Brexit on the fashion supply chain are just a few of the topics set to be discussed by experts and industry leaders within the Origin section of Pure London, the UK’s only fashion and sourcing trade show linking manufacturers, fabric suppliers, designers, logistics, brands and retailers.
Britain’s decision to exit from the European Union is likely to heighten the uncertainty in garments and other sectors in India. Karthik Muthuveeran analyses its impact on textiles. The Brexit impact is not only limited to Britain, but also European countries. London has always acted as a financial hub, which gives access to capital markets of the world to Europe. But with Brexit, European Union will end up having a limited access to capital markets. In all likelihood, access to this market will form a key part of trade negotiations. There are as many pros as cons in Britain exiting the Europe.
With the referendum to quit European Union, the impact on India’s textiles export to Great Britain will be minimal although it is a major market for apparels made in India. However, there could be initial turmoil due to structural changes and fresh negotiations being finalised. In perspective, EU imported textiles worth $235 billion in 2015 from the world. Of this, UK accounted for 15 per cent or $35 billion. Thus, the country is one of the largest markets for textiles including fibres, yarns, fabrics, apparels and other textile products. However, it is not a major supplier of this industry and thus will have negligible impact on sourcing.