To put a break on India’s widening trade deficit with China, the Confederation of Indian Textile Industry (CITI) has urged the Union government to push negotiations with its northern neighbour to give duty free access to Indian cotton textiles. With zero-duty access, India can double its textile exports and also reduce its trade deficit with China. In 2017-18, India’s bilateral trade with China was $89.6 billion, and trade deficit was $62.9 billion—much higher than $51.1 billion deficit in 20

The Punjab state government in India will soon unveil a new industrial policy to offer relief to industry from state goods and services tax (GST), property tax, electricity duty and stamp duty, according to state industry and commerce minister Sunder Sham Arora. He called for greater investment in the state, especially in the textile sector. The new policy will also offer a chance of one-time, lump-sum settlement for sick industrial units, a news agency report quoted the minister as saying

Power loom weavers, who started getting refund of the input tax credit (ITC) worth ₹450 crore beginning July 27 following approval by the Goods and Service Tax (GST) Council at its 28th meeting in New Delhi in July, are confident that the step will ease the payment crisis in the sector and will boost capital investment under the Technology Upgradation Fund (TUF) scheme. The power loom sector has been petitioning the GST authorities and the Indian Government for allowing the refund on

Walmart Inc and Advent International have announced the closing of Advent’s previously announced investment in an 80 per cent equity stake in Walmart Brazil. Walmart has retained a 20 per cent stake in the business. Advent is a private equity fund with a strong local presence and extensive experience in retail investment both in Brazil and internationally. Since the opening of its Sao Paulo office in 1997, Advent has invested in 30 Brazilian companies from various sectors. It has been active

Chinese and US textile and apparel groups expressed concern over the escalating trade conflict and their opposition to protectionism during a trade show in New York recently. The conflict is not going to benefit US consumers and fashion brands or Chinese manufacturers, according to Xu Yingxin, vice-president of the China National Textile and Apparel Council. Tariff increases will bring uncertainty to the stable global supply chain for top brands, an official Chinese newspaper reported quot

Chinese and US textile and apparel groups expressed concern over the escalating trade conflict and their opposition to protectionism during a trade show in New York recently. The conflict is not going to benefit US consumers and fashion brands or Chinese manufacturers, according to Xu Yingxin, vice-president of the China National Textile and Apparel Council. Tariff increases will bring uncertainty to the stable global supply chain for top brands, an official Chinese newspaper reported quot

Technicaltextile.net, an online platform that enables businesses associated with the technical textiles industry meet their exact information needs and build successful brands, has launched its new look. An exclusive platform, technicaltextile.net enables its clients to make informed decisions by providing them with in-depth analysis of the market and their competitors through news, interviews, and well-researched articles. Technicaltextile.net, a Fibre2Fashion initiative, also provides

Little Yellow Bird, a company that produces ethical and sustainable workwear and basics, has raised $1.2 million to develop a tech platform which will verify the origins of apparel in the garment industry in a quest to end modern-day slavery. The tech platform called Origins will use NEM blockchain technology to trace garments from origin to sale. “Just like I did with Little Yellow Bird, I’m actually trying to solve a problem that I’ve faced first-hand and one that I can see impacts peopl

Annual expenditure on investment in logistics, including infrastructure, will touch $500 billion by 2025, according to Indian minister of commerce and industry Suresh Prabhu. The ministry is working on a national logistics policy and one on the development of multi-modal logistics parks to be announced soon, he said recently said in New Delhi. These initiatives will create millions of jobs and will do away with the hurdles in India’s internal and global trade, an official press release quo

A delegation from the Indian textile industry will display the latest trends at the Apparel Textile Sourcing Canada (ATSC) show, featuring more than 500 international exhibits, beginning August 20. The 3-day fair will open scope for foreign direct investment (FDI), with Indian firms quick to innovate and adapt to the fast-changing demands of the industry. "We are thrilled to announce that 40 established, new and emerging businesses will be featured in the show’s new India Pavilion, which will