Before the pandemic hit global businesses, with Brexit and US China trade stand off the biggest question that bothered businesses worldwide was will the age of globalization come to an end? In fact, COVID-19 exposed the vulnerabilities of long-distance supply chains even more. With 64 (Thomasnet) US manufactu... Read more
Seven years and 35 rounds of negotiations between the European Union and China finally culminated in the Comprehensive Agreement in Investments (CAI). The deal was announced by the two signatories this week, opens the Chinese market further to EU investors. German Chancellor Angela Merkel played a key role in... Read more
After a hard year, India’s retail sector is now looking optimistically at the upcoming Union Budget. The retail sector estimated at $854 billion, is one of the largest industries with 10 per cent GDP share. It employs approximately 46 million people and hence is very important for economic revival... Read more
Though the European Union fears a significant decline in denim imports due to COVID-19, it will continue to remain a huge market for international denim exporters. As per a report by the Centre for Promotion of Imports, the Europe Union imported denims worth €9.2 billion in 2019.
Germany: The largest de... Read more
While polyester, nylon, cotton and cotton yarn prices in China grew strongly during December, spandex saw decline after 40 per cent increase in previous months. As per a CCF Group report, spandex prices were mainly affected by a dip in demand and operating rate of downstream mills which varied from medi... Read more
India is one the largest exporters of denim fabric in the world. Data from Astute Consulting indicates, India’s denim fabric exports grew at 8 per cent CAGR from 2016-2020. A major part of this growth came from poly denim fabric exports which grew at phenomenal 23 per cent CAGR in these five years. On t... Read more
The sports and outdoor industry is making a positive shift by using recycled fibers and fabrics. As per a report by Innovation in Textiles, majority of these fabrics are made from plastic waste, including single-use plastics or fishing nets collected from beaches and oceans. This not only prevents plast... Read more
2020 will be remembered as a year that not only changed the global geopolitical map but also as a year that saw China’s dominance over world trade. As per a SRTEPC report, in recent years, the US and Europe saw a massive rise in imports from China. However, COVID-19 and China’s role in its global ... Read more
The COVID-19 pandemic has affected flow of orders amongst major textile and apparel exporting countries of the globe. While India had already lost many textile orders to China before RCEP was signed, the agreement has further widened loss of orders.
Vietnam’s annual textile and apparel exports to drop
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The US-China trade war intensified recently with the Trump administration banning cotton imports from the sprawling Chinese quasi-military organization, Xinjiang Production and Construction Corps (XPCC).
As per a report, the XPCC produces more than 2/3 of China’s cotton. In 2019, the organization expor... Read more
Single largest source of foreign exchange, Pakistan’s textile exports are back on a growth track, says a report by Dawn. Pakistan Bureau of Statistics’ recent figures reveal, from July to October 2020, Pakistan’s textile shipments surged 3.8 per cent to $4.8 billion from $4.6 billion a year ... Read more
Though COVID-19 has led to a surge in fashion ecommerce activities, few segments continue to rely on physical shopping experiences, luxury fashion being one of them. As Euromonitor International notes, global luxury fashion sales are set to decline 22 per cent by 2020-end as stores remain closed and consumers... Read more
US government’s recent order to seize cotton and cotton products from the Xinjiang country would have far-reaching ramifications for US apparel retail industry, says the Worker Rights Consortium. As stated in a Quartz report, the order is likely to impact the supply chains of virtually every major appar... Read more