An Indian government directive has created uncertainty among the Bangladeshi businesses over export of raw jute and jute products to India as the neighbouring country imposed a number of conditions on import of the items from Bangladesh. Since the issuance of the notice by the office of the jute commissioner under the textile ministry of India Thursday noon, a good number of trucks laden with raw jute have remained stuck at land ports. According to the notice of the Indian authority, imp

Finance Minister AMA Muhith said the government planned to set up a mainly readymade garment warehouse in Russia in a bid to increase trade with the Commonwealth of Independent States countries. “Bangladesh has no warehouse in the world. But we are now thinking of such a one to bring about pace in our exports,” he said at a seminar yesterday. Muhith urged the entrepreneurs to find a suitable place in the CIS countries to build a warehouse, mostly for apparel goods. “This is a good id

Pakistan cotton market with surging demand by mills and spinners on Wednesday witnessed prices of fine quality moving up. The official spot rate was also up by Rs 50 to Rs 4,600, dealers said. Seed cotton prices in Sindh were at Rs 2400 and Rs 2450 and in Punjab rates were at Rs 2300 and Rs 2450. In the ready business, around 20,000 bales of cotton changed hands between Rs 4650 and Rs 4750. According to market viewers, mills and spinners indulged in fresh buying of cotton to cover their

The country’s textile sector has earned foreign currency of $128,203.71 million in the six fiscal years since 2009-10. Textile and Jute Minister Md Emaz Uddin Pramanik placed the statistics in Parliament yesterday in reply to a question. According to the statistics, the textile sector earned foreign currency of $26,509.77m in FY2014-15, $25,508.77m in FY2013-14, $22,556.73m in FY2012-13, $21,496.57m in FY2011-12, $19,002.78m in FY2010-11 and $13,129.09m in FY2009-10. Emaz Uddin said

Blended spun yarns export aggregated US$36.3 million in July, up 12 per cent YoY while volumes gained 20 per cent at 12 million kg. During the month, 6.7 million kg of PC yarns worth US$19 million and 3.5 million kg of PV yarns valued at US$9.8 million were exported. Cotton/viscose yarn demand has been on the rise since cotton prices have started moderating while viscose gave the lustre. In July, 0.7 million kg of yarns were exported worth US$2.7 million as against 0.3 million and US$1.69 mi

Bangladesh’s denim manufacturers have launched eco-friendly technology to produce sustainable denim as sustainability and environmental issues become major concerns among the world consumers. This initiative is expected not only to reduce environmental hazards in every stage of production process, but cut production cost also. It uses less chemicals, helps to avoid wastage of water and reduce carbon emission and encourages use of recyclable raw materials. Textile experts say the green s

After Tuesday's meeting between the Prime Minister and top business heads, the textile industry is expecting the central government to take quick action on its problems. The measures hoped for include action on free trade agreements (FTAs), on export incentives and release of funds under the Technology Upgradation Fund scheme (Tufs), among others. The textile and clothing industry’s yearly turnover is pegged at $105 billion, of which exports form 35-40 per cent. Capacity utilisation, especial

A seven-member Pakistani textile delegation left for Denmark on Tuesday to explore business opportunities and seek partnership with entrepreneurs. The visit has been arranged by the Trade Council of the Embassy of Denmark in Pakistan in collaboration with the Danish Fashion and Textile Association. Pakistani companies which are part of the delegation include Gul Ahmed, Sapphire Textile Mills, Master Textile, Soortey Enterprises Pvt Ltd, Towellers Limited, Image Garments Pvt. Ltd. and VI

China has lowered its GDP growth figure for last year by 0.1 percentage points to 7.3 per cent, authorities said, the National Bureau of Statistics said as concerns mount over slowing expansion in the world`s second-largest economy, according to media reports. The new figure remains the lowest since 1990, when growth plunged to 3.9 per cent. Gross domestic product stood at 63.6 trillion yuan ($10.00 trillion) last year, down by 32.4 billion yuan from the initial estimate, the NSB said in

Bangladesh has become the world’s largest importer of denim fabrics, a raw material for producing goods like jeans, industry people said. They said as the country earned reputation in producing jeans, major global brands were increasingly coming to buy denim products here, helping the local exporters maintain a steady growth. The Dhaka Tribune talked to a number of industry people at the “Textech Bangladesh International Expo-2015” in Dhaka yesterday. They said over 60% of denim fabrics