A major fire broke out in a local textile mill in Sohrab Goth Industrial Area police limits on Saturday, causing loss of millions of rupees. According to the Central Fire Station, the blaze erupted at about 7:55 pm in Al-Hadi Textile Mills situated in Gulshan-e-Maymar’s Textile Mills Area and within minutes it spread to other parts of the mill due to which valuables worth millions of rupees were reduced to ashes. At least seven fire tenders of the KMC reached the spot and took part in th

That Finance Minister Arun Jaitley addressed the requests of trade and industry associations here in the Budget came in for wide applause. Southern India Mills’ Association Chairman T Rajkumar lauded the Government for extending the optional route CENVAT. “We had sought continuation of optional route till GST is implemented to have a level playing field. The optional route has been in vogue from July 2004 and it has helped the industry achieve significant growth despite the recession in 2008-

The new markets include Australia, Brazil, Chile, China, India, Japan, Korea, Mexico, Russia, South Africa and Turkey Apparel export to non-traditional markets increased by over 21% during the financial year 2013-14. The new markets include Australia, Brazil, Chile, China, India, Japan, Korea, Mexico, Russia, South Africa and Turkey. Bangladesh’s traditional markets for garment exports are Europe and the United States. Export Promotion Bureau data showed the country earned a total

Italian sportswear brand Kappa and U.S.-based retail giant Walmart apparently source clothing from the latest addition to the International Labor Organization’s (ILO) list of low-compliance factories, according to a union leader at the factory who provided the branded tags from the clothing her members cut and stitch. Hung Tak Garment factory was last week added to the “lowest compliance” category of the ILO’s Better Factories Cambodia (BFC) transparency index. BFC inspectors identified 19 ar

Textile industry invested around $548.997 million during July-May 2013-14 to replace the rundown machinery with a view to boost up production, exporters said on Wednesday. "The industry has imported around $548.997 million of new machinery during the current fiscal year which is greater by 58 percent as compared to the machinery imported during last fiscal year," exporters said. The country's import of textile machinery grows by $200.714 million (58 percent) to $548.997 million in July-May 2

Apparel exports have seen 13.83% growth in the just concluded financial year over the previous year with the total earning from the sector standing at $24.49bn, Export Promotion Bureau (EPB) data showed. The garment exports even exceeded the target set for the FY2013-14 which suffered months of political unrest and deadliest Rana Plaza incident. The target was $24.14bn. In the FY2012-13, Bangladesh earned $21.5bn from the country’s largest export industry. The growth in the year was 12.71% gr

Producing footwear (Photo: VNA) Vietnam earned 4.8 billion USD from exporting footwear in the first haft of this year, a year-on-year increase of 21.9 percent. This is mainly thanks to the Generalise System of Preferences (GSP) tax offered by the European Union (EU) from January 2014 to Vietnamese exporters, experts said. Besides, with the political stability, the abundant workforce and the high quality of the products, Vietnam has won many contracts from foreign importers. The earning

Vietnam’s garment and textile sector has been expanding into major overseas markets and will do even better after several free trade pacts are finalized, according to industry insiders. Le Tien Truong, deputy general director of the Vietnam National Textile and Garment Group (Vinatex), said clothing exports have grown more than 15 percent annually since 2001--some years saw over 30 percent growth. Vietnamese garments make up over two percent of global market share, Truong told a reporter a

The online garment transactions are expected to reach 615.3 billion yuan (about $98.5 billion) in 2014, said China E-Commerce Research Center (CECRC) on Tuesday. The figure is increase of 41.5 percent and expected to cover about 22 percent of total online transactions in 2014, said the CECRC forecast, with online platfroms and physical stores supplementing each other. In 2013, China's online clothing sales were estimated to reach 434.9 billion yuan, a 43 percent year-on-year increase. Garm

Global yarn production increased in Q1/2014 compared to the last quarter in 2013 due to higher output in Asia, North America, and Europe, and despite a drop in South America. On an annual basis yarn production increased as well even though output levels were lower in South and North America. Worldwide yarn stocks decreased slightly in comparison to the previous quarter as a result of lower inventories in South America and Europe. Year-on-year global stocks jumped with higher stock levels in