As per the reports, Hong Kong apparel giant Esquel Group has said that it is going to sue the US government for putting a false allegation of erroneous blacklisting of a subsidiary in China’s Xinjiang region.
Browsing: Xinjiang cotton
In this interview, Pulkit Agarwal, Associate Director, CARE Ratings, analyses the performance of Indian home textiles industry and the effect of the second Covid wave on the industry.
In the recent years, India has emerged as one of the major players in the global home textiles market. Factors like traditional craftsmanship, local availability of raw materials, investments by companies in high-tech textile machinery, etc have helped India to become a preferred sourcing destination for home textiles.
As per analysts, many Japanese apparel brands are banning Xinjiang cotton, following the suit of many other well-known brands. This action will make them lose out in the Chinese market.
Declaring Better Cotton Initiative (BCI) standards sub-par, China plans to release a new set of quality guidelines to encourage high-quality cotton farming and improve production.