Power looms in and around the textile town in Ichalkaranji in Kolhapur district will remain closed for five days from Thursday in protest against Mahavitaran’s undue hike in power bills. The decision was taken in a meeting of power loom owners on Tuesday when it was pointed out that the hike in power bills had adversely affected the textile industry and despite representation to both the Mahavitaran and state chief minister Prithiviraj Chavan, nothing had been decided for the expected relief and

The process of relocating tannery factories from the city’s Hazaribagh area to Savar is progressing fast, reports BSS. The government has already handed over 205 plots at Hemayetpur Tannery Industrial Zone to 155 companies for setting up their factories. A highly placed source of Industries Ministry said the government is proceeding with a target of relocating tannery industry from Hazaribagh by December 2014. Industries Minister Dilip Barua told BSS that the government will consider en

Bangladeshi company M/s arrow Jeans (Pvt) Ltd (Unit-1) is going to set up a readymade garments industry in Chittagong EPZ, a press release said here on Wednesday. This company will invest US$ 8 million for setting up their plant with annual production capacity of 3 million dozens of Casual Jeans, Trouser, Dress pants, skirt, shorts, jacket, vest, ladies blouse, blazer and Jump suits. Arrow jeans limited will create employment opportunity for 1,804 Bangladeshi nationals. An agreement to thi

Footwear businesses are busy with a number of new contracts. Their exports are expected to hit a record high of US$8 billion this year. The Vietnam Leather and Footwear Association (Lefaso) says if monthly exports are equal to the average level of US$675 million in the first nine months of this year, the sector’s export earnings will reach nearly US$8.1 billion by the end of this year, even up to US$8.44 billion thanks to strong growth in November and December. The preliminary statistics o

While foreign textile and garment companies have geared up with their investment plans in Vietnam to prepare for the Trans Pacific Economic Partnership (TPP) agreement, Vietnamese businesses have been staying put. The Vietnam Textile and Apparel Association (Vinatas) has noted the growing tendency of foreign importers seeking supply sources in Vietnam instead of China. Vietnam’s textile and garment exports now can only satisfy 3 percent of the total demand in the globe. Meanwhile, China, w

India's garment industry employs about eight million workers, of which 70 percent are women. The top ten garment importers from India are the United States, China, the United Arab Emirates, the UK, Germany, Bangladesh, Italy, France, Spain and Turkey. Though garment exports grew by a sturdy 18 percent from 2008/2009 to 2011/2012 to 12.95 billion US dollars, India's textile exports grew by a staggering 83 percent in the same time period and have reached a volume of 18.75 billion US dollars. Top c

Heavy rains and floods have reportedly damaged 0.361 million bales of cotton crops, which may make it difficult for the government to achieve projected agriculture sector growth target of 3.8 per cent for the current fiscal year. Sources in the Planning Commission told Business Recorder that flood caused relatively more damage to the cotton crop in Punjab with 0.230 million bales followed by 0.130 million bales in Sindh. The floods and rains have inundated cotton crop at 78.6 thousands hectar

The textile sector posted 40 percent rise in profitability in the first quarter of fiscal year 2013-14 (Q1 FY14) due to improved demand and better yarn margins. The textile people said on Tuesday further boost to the profits was provided by depreciating rupee and cheaper financing rates. Profits of the sector’s listed textile firms increased by 40 percent on yearly basis to Rs 9.1 billion in the Q1 FY14. The same was also reflected at the local bourse as shares of listed textile firm

They demand review of Wage Board’s proposal Apparel manufacturers and exporters have threatened shutting down their factories unless the government reviews the recommendation of fixing minimum monthly wage at Tk5,300 within next 15 days. Their warning came a day after a government-formed wage board proposed the amount, up from existing Tk3,000 per month. “This is a suicidal proposal, which is void of reality, unacceptable and irrational,” Atiqul Islam, president of Bangladesh Garment

(VOV) - The garment and textile sector’s export turnover is expected to hit more than US$19 billion this year thanks to an increase in orders and export revenue. The Ministry of Industry and Trade (MoIT) said that it already reached US$14.8 billion by October, up 18.7% from a year earlier. In the 10-month period, Vietnam’s garment and textile exports to China were estimated at over US$270 million and its furnishing fabrics at nearly US$700 million. Meanwhile, its cotton imports from Ch