Eco Spindles, a wholly-owned subsidiary of BPPL Holdings Ltd (BPPL), recently inaugurated Sri Lanka’s first ever polyester yarn plant at Horana Export Processing Zone with an investment of SLR 800 million. The unit, with spinning and texturing machinery from Europe, will manufacture polyester yarn from recycled polyethylene terephthalate (PET) bottle flakes. The plant is one of two plants in the world that create yarn directly from flakes circumventing the polymerization where flakes are f

The Goods and Services Tax (GST) Council at its 28th meeting held under the chairmanship of Union minister for railways, coal, finance and corporate affairs Piyush Goyal has recommended for allowing refund of input tax credit (ITC) to fabrics. The refund of accumulated ITC shall be with prospective effect on purchases made after notification is issued. “Fabrics attract GST at the rate of 5 per cent subject to the condition that refund of accumulated ITC on account of inversion will not be all

Bangladesh will set up a Tk10,000-crore Jute Sector Development Fund (JSDF) and the textiles and jute ministry has finalized a draft policy for low-cost loans from that fund. The management of the 20-year revolving fund will be under the central bank. A committee headed by Bangladesh Jute Mills Corporation (BJMC) chairman Mohammad Mahmudul Hassan prepared the draft. Jute farmers, traders, entrepreneurs and exporters of jute and jute products are eligible for loans from the fund at a 5 per

Israeli’s Delta Galil Industries will develop, produce and distribute men’s underwear, loungewear and thermal wear for global British lifestyle brand Ted Baker exclusively worldwide. This is under the new exclusive licensing agreement which Ted Baker has signed with Delta Galil, manufacturer and marketer of branded and private label apparel products. The new five-year agreement will allow Delta Galil to develop, produce and distribute men’s underwear, loungewear and thermal wear for Ted Ba

Beaulieu Yarns, a supplier of high-quality synthetic polyamide and polypropylene yarns headquartered in Belgium, has bagged the Green Product Award 2018 in the material category for its EqoBalance family of biomass-balance yarns. EqoBalance, the first biomass-balance polyamide yarns for carpets, was chosen from a field of 400 submissions from 25 countries. Around 100 nominees were presented to an international jury which evaluated these entries for their expertise in design, innovation, an

Stoll, a leading manufacturer of flat knitting machines based in Reutlingen, Germany, has completed 40 successful years working in the African market. For more than four decades, Africa has always played a significant role for Stoll. Especially in South Africa and Kenya, Stoll machines, built in the 50s / 60s of the last century, are still running fine. For many years, Stoll has successfully served markets such as South Africa, Mauritius, Madagascar, and the North African states (including

The earlier date for the industry’s largest trade event, Intertextile Shanghai Apparel Fabrics Autumn edition, is attracting many of the biggest apparel fabrics and accessories. The famous apparel trade show, which will be held from September 27 to 29, 2018, will see around 4000-plus suppliers and more than 70,000 trade buyers from all over the world. Signed up to return with their group pavilions, which will feature these brands’ partner mills, are Birla, DuPont, Hyosung, Invista and Lenz

IGF Expo, beginning November 13, will provide opportunities for global home decor brands and trend setting start-ups to enter the Nigerian market, build strong relationships and take high value bulk orders. The 3-day fair will also host seminars for retailers, interior designers and buyers to increase revenue, upskill their teams and promote their brand. "The event is a must-attend whether you’re on the look-out for design-led or mid-low price point interiors, furniture, textiles, coverings,

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