The net revenue of GHCL, India’s leading chemical and textile company, in the first quarter of fiscal 2019 is has increased marginally by 1 per cent to 757 crore as compared to 48 crore in the corresponding quarter ended June 30, 2017. EBIDTA for the reported period is posted at 152 crore compared to 167 crore in the corresponding quarter previous year. While, its home textiles business revenue declined by 15 per cent to 265 crore in FY19 as compared to 311 crore in the corresponding quarter

The Government of India’s decision to increase basic customs duty (import duty) to 20 per cent on 76 textile and apparel items at 6-digit level, is a significant move and will strengthen the domestic textile industry, The Synthetic & Rayon Textiles Export Promotion Council (SRTEPC) has said. The duty has come into effect from July 16, 2018. One of the main MMF fabrics tariff line included in the list of 76 items is other woven fabrics dyed containing 85 per cent or more by weight of textu

Vietnamese textile products made up 34.05 per cent of the South Korean market in terms of value in the first three months of 2018, an annual increase of 2.33 per cent, according to statistics from the Korea International Trade Association. These figures helped Vietnam turn the top textile importing country in South Korea (RoK), surpassing China (PRC). In 2017, South Korean firms invested in 44 textile projects in Vietnam, with a combined registered capital of $178.16 million, according to

The Government of India’s decision to increase import duty on 76 textile and apparel items at 6-digit level, has been welcomed by the Confederation of Indian Textile Industry (CITI). The move would provide a major relief to the garment and carpet manufacturers who were under immense pressure post the launch of goods and services tax (GST). The import duty has been raised from the earlier 10 per cent to 20 per cent to protect the domestic manufacturers from rising imports. The list of products

Eight fashion companies who had committed to cut hazardous chemicals from clothing production by 2020 have achieved significant progress, according to a new Greenpeace Germany report - Destination Zero: seven years of Detoxing the clothing industry. The report comes seven years after Greenpeace launched its Detox campaign to stop polluting rivers and oceans. The campaign had secured industry pledges to stop polluting rivers and oceans. The report maps for the first time the major steps tak

India’s Punjab government recently signed memoranda of understanding (MoUs) worth 455.34 crore with nine prominent industries associated with technical textile, composite hosiery, fabric knitting, fabrics, spinning and readymade garments at the Punjab Apparel and Textile Conclave in Ludhiana, according to state minister for industries Sunder Sham Arora. A single window system has been set up at the deputy commissioner's offices, where approval for investment of up to ₹10 crore will b

India's annual rate of inflation, based on monthly wholesale price index (WPI), stood at 5.77 per cent for the month of June 2018 over same month of last year. The index for apparel decreased by 1.3 per cent to 139.2 in June, according to the provisional data released by the Office of the Economic Adviser, ministry of commerce and industry. The official WPI for all commodities (Base: 2011-12 = 100) for the month of June 2018 rose by 1.1 per cent to 119.2 from the previous month’s level of 117

As part of a new e-commerce policy being discussed, foreign investment should be allowed in inventory-led online retailers stocking products made in India, a government-industry subgroup on e-commerce has recommended. The policy may reportedly pin greater liability and responsibility on online retailers, which may have to seek Indian Government accreditation. E-commerce companies may also have to integrate with National Consumer Helpline to address consumer issues, according to a report in a

Exporters in Turkey's Denizli, which accounts for $1.5 billion of the country's $3.5-billion annual home textile exports, have shifted their attention to alternative markets, China being a key country. While Denizli exports primarily to the United States and Europe, its exports to China in 2017 was $11.73 million—a two-fold rise over the previous year. A branding campaign called ‘Turkish Towels’ under the state-sponsored Turquality branding project is being carried out by the exporters, who h

A record 971 exhibitors from 12 countries and regions (2017: 721), and 17,664 trade buyers from 35 countries and regions (2017: 15,608) took part in the Intertextile Pavilion Shenzhen, reflecting the strength of the Southern China fashion sector. The event has emerged as the industry’s platform of choice for suppliers to connect with leading brands. Shenzhen is fast establishing itself as China’s fashion capital – with some 1,000 fashion brands, 2,000 garment companies and 30,000 fashion d