Jute has been a vital sector for the country's economy and remains so even today with about 45 million people of the country depend directly or indirectly on jute farming, trading and employment in jute manufacturing. Bad time for the country's jute industry has staged a comeback after some years to haunt the nation said the Chairman of the Bangladesh Jute Mills Corporation (BJMC). According to reports available, the government-owned BJMC has lost Tk 4.5 billion (Tk 450 crore) during FY2014-

Pakistan’s exports of value-added textile products rose 7.5 per cent to $4.517 billion in 2014-15 from $4.202bn a year ago, the Pakistan Bureau of Statistics said on Monday. Exports of readymade garments grew 10.5pc to $2.101bn from $1.909bn, and of knitwear rose 5.37pc to $2.416bn compared to $2.293bn during the previous year. Official figures show that the government held out support of Rs6bn, mostly to the value-added textile sector, during FY15 as against Rs3bn over the previous year.

China's consumer price index (CPI) went up 1.4% year-on-year in June, according to data released by the National Bureau of Statistics. In which, the prices of clothing commodities and footwear rose 2.9% and 3.2% respectively while the clothing processing service charge rose 5.4%. In the first-half year, the consumer prices went up 1.3% from the same period of last year, in which, the consumer price of resident's clothing hiked 2.9%. In June, the consumer prices remained unchanged on a monthl

During their recent joint Cabinet meeting in Bangkok, Vietnamese Prime Minister Nguyen Tan Dung and his Thai counterpart Prayut Chan-o-cha agreed to intensify cooperation between the two countries in various sectors, including the textile sector. At the meeting, Dung urged Thailand to increase its investments in Vietnam, especially in areas of mutual interest including in the textile-garment and footwear sector. Both nations agreed to increase their bilateral trade to $20 billion by 2020.

Textiles Minister Santosh Kumar Gangwar in his written reply to Lok Sabha mentioned that the export of textiles for the current financial year (2015-16) targeting a growth of 14 percent has been fixed at USD 47.5 billion from actual exports of USD 41.6 billion in 2014-15, parliament was told on Thursday. He also said that the government is encouraging exports through Merchandise Exports from India Scheme (MEIS), which has recently been modified to include the markets of Bangladesh and Sri Lan

The Russian textile market, as well as all the other industries, is undergoing changes. These changes take place both in the purchasing structure and in distribution channels. India as a textile brand has not established itself in Russia yet. No professional work has been done in this direction, and the responsibility for this lies on both sides. India need to work on promoting Brand India in Russia in a broad sense, and this should be done at the government level on both sides. India and Ru

Indonesia has raised import tariffs on more than a thousand items covering many consumer goods such as clothes, food and cars to arrest an economic slowdown and falling retail sales, according to media reports. Economists have warned it would fuel inflation and noted firms faced bigger problems than foreign competition. For clothes, the new import tariffs were raised mostly to between 15 per cent and 25 per cent, the government said. T-shirts, used clothes and corsets, will be levied duty bet

The incentive of Rs 64.15 billion cash subsidy to the textile and clothing sector under the textile policy would boost the exports to $ 26 billion by 2019. Official sources said on Tuesday that the package announced under the policy (2015-19), carries special duty-drawback rates, duty exemption on plants and machinery and subsidy on long-term loans. The Finance Division would provide Rs 40.6 billion over five years for duty drawback, technology up-gradation and brand development while anot

Cotton fabric exports are likely to rise at least 10 per cent this year because of inclusion of the fabric in the Merchandise Exports from India Scheme (MEIS). Products notified under MEIS for any specific market are eligible for reward on the free-on-board value. Last week, the Directorate General of Foreign Trade announced inclusion of cotton fabrics into MEIS for export to Bangladesh and Sri Lanka, which would mean a two per cent export incentive. About 4,000 items are included in MEIS.

Garment shipments to the European Union, the country's single largest export destination, increased 4.11 percent year-on-year to $15.37 billion last fiscal year. At present, the 28-nation economic union accounts for 60.28 percent of the country's garment exports a year. In Europe, Germany was the prime destination, as in previous years, accounting for $4.33 billion of the $15.37 billion exports receipts. The UK came in next, importing $2.9 billion of garment items from Bangladesh, follo