China's stable and healthy economic growth mainly stems from major progress in economic reform and the government's ability to maintain a stable macroeconomic policy, Chinese Vice Finance Minister Zhu Guangyao said Thursday. Zhu, who is attending the International Monetary Fund (IMF) and World Bank's annual meetings here, said this during his discussions with IMF First Deputy Managing Director David Lipton. The stable macroeconomic policy demonstrates China's steering capacity in economi

The textile and clothing industry, which emits 1.7 billion tonnes of carbon dioxide annually, is taking a toll on the environment, according to the WWF Switzerland. In its analysis of the global textile industry with respect to its impact on the nature, the organisation has found that only a few companies pay attention to the environment. Based on data provided by Oekom research AG, the report classifies 12 companies into visionary, ambitious, upper midfield, lower midfield, latecomers or int

Indian textile exporters have been facing subdued demand trends over the past few years in the key textile consuming regions of the US and EU which accounts for a majority of exports from India as well as intense competitive pressures from nations such as Bangladesh and Vietnam due to high raw material prices in the past six to nine month, which has been aggravated by unfavourable currency movements as well as recent revision in duty drawback rates have only added to their woes. This apart, c

Delay in harvest of the fibre crop in the key growing regions of Maharashtra, Gujarat, Madhya Pradesh and Telangana and other States due to unexpected rains have firmed up cotton prices over the past few days. According to Biren Vakil, an analyst with Ahmedabad-based Paradigm Commodities, the price rise is a temporary phenomenon. They may see some downward movement in prices after November. But till then, some more upside can be seen. Also, an increase in buying by millers, has contributed to

According to figures released by India’s Office of Textile Commissioner, YTD (year-to-date) filament yarn production increased by 4.5% year-on-year in 2017 up to July. The bulk of the rise came from an increase in polyester filament yarn production, offsetting the drop in polypropylene filament yarn and viscose filament yarn production. Nylon filament yarn production contributed towards the year-on-year increase in filament yarn production in India. Year-on-year growth may slow down from J

Footwear and handbag businesses have prioritized exporting their products over selling them domestically as profits are higher overseas and government incentives make it a more attractive proposition. According to the Vietnam Leather, Footwear and Handbag Association (Lefaso), the people of Vietnam purchase more than 180 million pairs of shoes annually while domestic production only meets roughly 40% of that demand. Lefaso has more than 500 member companies involved in producing leather sh

The textile chemical and dye market of Bangladesh is edging towards $1 billion on the back of rising garment exports, according to industry insiders. This has caught the eyes of many foreign companies, who now mull over expanding their geographical footprint to Bangladesh. One such company is Huntsman Textile Effects, a concern of the globally renowned US-based chemical and dye company Huntsman. The company is currently working with nearly 200 textile and dye factories in Bangladesh and

The Yangon regional government has accused ActionAid Myanmar of coming out with an inaccurate report about safety standards for women working in garment factories and asked the non-governmental organisation to revise it. A joint government-industry team that inspected factories mentioned in the report found the complete opposite of what was mentioned there. In Yangon region, there is no abuse or oppression as alleged by ActionAid and such misinformation can harm the nation’s image, economy a

Indonesia’s many big firms have started investing in the specialty textiles segment to push up production in specialty textiles or fabrics for special purposes, such as sofa and shoes to fulfil national demand amid the country's dependence on the import of these materials, said Prama Yudha Amdan, the executive member of Indonesian Association of Synthetic Fiber Producers (APSyFI). Publicly listed PT Asia Pacific Fibers is one company that has entered this market. Yudha added that specialty

This fiscal year, exports of textile machinery, equipment for spinning, spinning accessories, weaving preparatory and of other accessories likely to see an increase in the range of about 15 to 20 percent, after a year of marginal growth due to tepid international demand in 2016-2017. S. Chakraborty, secretary for the Textile Machinery Manufacturer’s Association, said that the international market did not see much growth last year. Further, for exports to grow in a particular market, the manuf