US real GDP rises at 3.2% annual rate in Q3 2017: BEA

2017/12 28 13:12

US real gross domestic product (GDP) rose at an annual rate of 3.2 per cent in 2017 third quarter compared to 3.1 per cent in the second, according to the third estimate by the US Department of Commerce’s Bureau of Economic Analysis (BEA). Real gross domestic income (GDI) rose by 2 per cent in the […]

Pakistan’s PHMA wants removal of import duty on cotton yarn

2017/12 28 13:12

Pakistan Hosiery Manufacturers and Exporters Association (PHMA) has appealed to the government to withdraw duty on the import of cotton yarn, a raw material for the value-added knitwear sector, following the proposed withdrawal of custom duties on raw cotton import from India. The sharp rise in cotton yarn prices has hit the value-added garment sector […]

India’s bivoltine silk output to grow 19% in 2017-18: Govt

2017/12 28 13:12

Courtesy: PIB India’s production of import substitute bivoltine silk is expected to reach around 6,200 MT in 2017-18as compared to 5,266 MT in 2016-17, registering an increase of 19 per cent, the ministry of textiles has said.Bivoltine (raw) silk production has grown by 105 per cent in the last three years and has enabled substantial […]

Indo Count bags gold for highest cotton made-up exports

2017/12 28 13:12

Courtesy: Indo Count Industries Limited Indo Count Industries Limited, one of the leading manufacturers and exporters of home textiles in India, has bagged gold trophy for the highest exports of cotton made-ups for 2016-17. Having won bronze and silver trophy in the past, this is for the first time that Indo Count has been awarded […]

Home Depot acquires Company Store

2017/12 28 13:12

Courtesy: The Company Store The Home Depot, the world's largest home improvement specialty retailer, has announced the acquisition of the Company Store, a leading online retailer of textiles and home décor products. Broadening capabilities in home textile categories, the acquisition does not include the five retail locations of the Company Store. The deal closed on […]

Cooling fabrics market to be $3.24 bn by 2025: Report

2017/12 28 13:12

The global cooling fabrics market size is expected to be worth $3.24 billion by 2025, propelled by growing focus on fitness, sports, and leisure activities coupled with increasing health consciousness, according to a new report. Increasing research and government incentives are projected to accelerate production of such fabrics, thereby triggering demand. The market for such […]

Pleas on yarn, wool part of ASSOCHAM’s suggestions to govt

2017/12 28 13:12

The Associated Chambers of Commerce and Industry of India (ASSOCHAM) recently urged the government to provide interest equalisation of 3 per cent for yarn exports in the next budget to ensure that domestic products can compete in global markets. The suggestion was part of its pre-budget recommendations on indirect taxes submitted to the government. Two […]

Microfibre Consortium to address microfibre challenges

2017/12 28 13:12

Courtesy: European Outdoor Group The Outdoor Industry Microfibre Consortium plans to start work on an infographic and roadmap, alongside an applied research project, both aimed at facilitating a shared understanding of the complex challenges presented by microfibres, and building knowledge of the factors that will play a role in finding viable solutions for industry to […]

Destination Maternity appoints new board member

2017/12 28 13:12

Courtesy: Destination Maternity Destination Maternity, the world's largest designer and retailer of maternity apparel, has appointed Peter Longo, former president of Macy's Logistics/Operations, to its board of directors. Following the announcement, the board will consist of 5 members who have significant professional experience, particularly in retail, e-commerce, marketing and finance. "As a board, we have […]

Bangladesh opens first-ever garment factory for prisoners

2017/12 28 13:12

Bangladesh home minister Asaduzzaman Khan recently inaugurated the country’s first-ever garment factory to facilitate income of prisoners at the Narayanganj district jail. The Bangladesh Knitwear Manufacturers and Exporters Association trained around 400 prisoners to run the factory in two shifts. Their earnings will be credited to their respective accounts. The prisoners can either send the […]