Chinese sportswear companies reported business performance above expectations in the first half of this year, marking a turning point in China’s highly competitive sportswear market where overseas brands like Nike and adidas have traditionally dominated.
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North India cotton yarn prices stable, recycled down in Panipat
Asia remains the garment factory of the world: ILO
Bangladesh’s knitwear industry has criticised the failings that caused a major fire at a storage depot holding clothing and textiles for export from the country’s major port at Chittagong, killing 44 people and losing sector companies more than US$110m.
India lifts anti-dumping duty on import of textile chemical
ISLAMABAD: The Institute of Chartered Accountants of Pakistan (ICAP) on Tuesday suggested an audit of textile export subsidies by an international firm to justify export outcomes and called for the withdrawal of all income tax exemptions to remove distortion as a national conviction instead of external demands.
India-based denim manufacturing and fabric processing unit Vishal Fabrics Limited (VFL), a unit of Chiripal Group, has reported a 41 per cent growth in net income to ₹20 crore in the fourth quarter (Q4) this fiscal as opposed to ₹14 crore in Q4 FY21. Vishal Fabrics posted a growth of 60 per cent at ₹1,547 crore for the financial year 2022 in comparison to ₹968 crore for the last fiscal. It recorded a revenue of ₹426 crore during Q4 FY22, as against ₹388 crore in Q4 FY21, a growth of 10 per cent, the company said in a media release.
India’s readymade garment exporters want a ban on cotton exports, saying they are facing a severe liquidity crisis because of soaring cotton and yarn prices, which is making it difficult for them to deliver shipments to their foreign buyers on time.
The value of textile and garment exports from Pakistan increased by 25.43 per cent year-on-year in dollar terms in the first nine months of fiscal 2021-22. During the period, Pakistan earned $14.242 billion from textile and apparel exports, compared to exports of $11.355 billion in July-March 2020-21, according to data from Pakistan Bureau of Statistics.
