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

Net income at US based value-added and recycled fibres producer Unifi, Inc climbed 46.52 per cent year over year for fiscal ended June 28, 2015. A Unifi press release informed that net income for fiscal 2015 totaled to $42.2 million or $2.32 per basic share compared to net income of $28.8 million or $1.52 per basic share for the prior fiscal.It reported an adjusted net income of $34.3 million or $1.88 of adjusted EPS for the reporting fiscal as against adjusted net income of $31.2 million or $1

Parliament was informed today that the cotton prices in the domestic market are subdued due plunge in India’s exports to China in 2014-15. Export of cotton from India to China has witnessed turn down by 56.72 percent from 61 lakh bales in 2013-14 to 26 lakh bales in 2014-15. As a result, there had been slowness in the domestic prices as compared to last year, said Commerce and Industry Minister Nirmala Sitharaman in a written reply to Rajya Sabha. Cotton policy adopted by China is the major

The International Apparel Sourcing Show which began on Tuesday in New York attracted more than 600 Chinese companies and about 1,000 companies from more than 20 countries, which are displaying products including clothing, fabrics and home textiles. A record number of Chinese companies participated to establish new niche markets in the United States. This year the show has witnessed 30 percent increase in Chinese participates from last year. In fact, hundreds of China's textile and apparel makers