Commerce and Industry Minister Piyush Goyal discussed developments related to the free trade agreement (FTA) with the Executive Vice President of the European Commission (EU) and the United Kingdom (UK) Secretary of State for Business and Trade, the Department of Commerce said in a statement on Wednesday. Goyal was attending the G7 Trade Ministers' meeting in Italy to discuss ways to enhance global trade relations and economic cooperation. The bilateral meeting took place on the sidelines of the meet. Discussions with the European Commission focused on promoting India-EU trade and economic collaborations, including ongoing FTA negotiations. “Both sides explored opportunities to strengthen cooperation in various areas of mutual interest,” the statement said. The ninth round of negotiations for the proposed FTA between India and the European Union (EU) is expected to take place in September. Goyal also met the newly appointed United Kingdom (UK) Secretary of State for Business and Trade, where discussions included plans to take forward the discussions on the FTA between both nations. Goyal also called for enhancing collaborations among trusted partner countries for the smooth supply of critical minerals, semiconductors, pharmaceuticals, and green energy. He also highlighted the importance of analysing the robustness of global supply chains in times of crisis like the pandemic, the Ukraine-Russia conflict, and the Red Sea crisis. Goyal said that efforts are on in various countries to build resilient supply chains under platforms like the G20 Generic Framework for Mapping Global Value Chains (GVCs), the 14-member Indo-Pacific Economic Framework for Prosperity (IPEF) association, the Trilateral Supply Chain Resilience Initiative (SCRI), and the India-EU Trade and Technology Council (TTC). He also said that during global uncertainties there is a need for greater alignment of investment, trade, environment, and energy policies to fortify global supply chains.
Source: Economic Times
Synopsis The report states that the deceleration in the growth momentum of exports in June compared to May was largely due to an 18.2 percent contraction in oil exports. The growth momentum slowed down in June, with merchandise exports increasing by only 2.6 percent year-on-year, down from 9.1 percent in May. Despite geopolitical tensions in Europe and the Middle East, India's merchandise exports grew by 5.8 percent to USD 109.96 billion compared to USD 103.9 billion in the same period last year, according to a CRISIL report. The report states that the deceleration in the growth momentum of exports in June compared to May was largely due to an 18.2 percent contraction in oil exports. The growth momentum slowed down in June, with merchandise exports increasing by only 2.6 percent year-on-year, down from 9.1 percent in May. Non-oil exports continued to maintain steady growth, rising by 7.7 percent in June, almost in line with the 7.8 percent growth recorded in May. Services exports exhibited a strong performance in June, contributing positively to the overall trade scenario. The positive aspect is that merchandise imports grew at a slower pace of 5.0 percent year-on-year in June, down from 7.7 percent in May. However, core imports, excluding oil and gold, surged by 7.1 percent, increasing from the 0.8 percent growth in the previous month. This spike in core imports was partially driven by a low base effect from the previous year. Despite the positive growth in exports, the trade deficit widened to USD 21 billion in June from USD 19.2 billion in the same month last year. For the first quarter, cumulative imports rose by 7.7 percent to USD 172.4 billion from USD 160 billion, resulting in a trade deficit of USD 62.44 billion, up from USD 56.1 billion. This widening deficit was mainly due to a higher oil trade deficit, while the non-oil trade deficit narrowed. Services exports were a bright spot, increasing by 10.2 percent year-on-year to USD 29.76 billion in May. On the other hand, service import growth moderated to 5.4 percent, down from 19.1 percent in the previous month. Consequently, the services trade surplus expanded to USD 13.02 billion, up from USD 11.1 billion in May last year. Oil exports fell by 18.3 percent year-on-year and 18.5 percent month-on-month in June, despite stable international prices. This suggests a reduction in export volumes, with exports falling to USD 5.5 billion from USD 6.8 billion in June last year and the previous month. Oil imports increased by 19.6 percent in June compared to 28 percent in May, driven by domestic demand and local refineries operating above capacity. Sectors such as drugs and pharmaceuticals, engineering goods, organic and inorganic chemicals, and ready-made garments showed positive growth. However, pharmaceuticals (9.9 percent vs. 10.5 percent) and ready-made garments (3.7 percent vs. 9.8 percent) saw slower growth compared to May. Gems and jewellery exports continued to decline, marking the seventh consecutive month of negative growth at -1.4 percent year-on-year. Growth in carpets, handloom products, man-made products, plastics, and linoleum was positive but slower than the previous month. Handmade carpets (-16.6 percent vs. 20.6 percent), jute manufacturing (-11.1 percent vs. -5.2 percent), and leather products (-2.2 percent vs -2.1 percent) recorded contractions. Cashew exports have been declining since 2018, with only sporadic months of positive growth. In June, cashew exports fell by 7.3 percent, an improvement from the 25.8 percent decline in May. Coffee (70 percent vs. 64.2 percent), fruits and vegetables (7 percent vs. 20.8 percent), rice (1 percent vs. 2.8 percent), spices (9.8 percent vs. 20.3 percent), tea (3.2 percent vs. 19.6 percent), and tobacco (37.7 percent vs. 58.4 percent) saw slower growth compared to May. Marine products (-7.7 percent vs. -3.9 percent) and meat, dairy, and poultry products (-13.9 percent vs. 22.9 percent) also experienced a decline. Increases were noted in electronic goods (15.9 percent vs. 6.7 percent), fruits and vegetables (22.6 percent vs. 3 percent), non-ferrous metals (47.6 percent vs. 1.1 percent), project goods (31.4 percent vs. -44.3 percent), textiles and yarn fabric made-up articles (23.8 percent vs. -1.1 percent), and wood products (16.2 percent vs. -7.2 percent). The fiscal year has started positively with steady merchandise export growth in the first quarter. Encouragingly, multilateral organisations have forecasted better year-on-year trade growth The Indian government's focus on foreign trade agreements (FTAs) is expected to further boost trade. However, the persistent growth in imports surpassing exports is a concern, widening the trade deficit. The recent US tariff hikes on Chinese imports could lead to potential dumping by China in the Asian market, including India, which requires close monitoring. Despite these challenges, the expected moderation in domestic growth may help contain import growth and the trade deficit. The service trade surplus and robust remittance flows are positive indicators that the current account will remain stable.
Source: Economic Times
New Delhi: In a significant move to address pressing issues in the textile sector, representatives from the Southern Gujarat Chamber of Commerce and Industry (SGCCI) met with Union Textile Minister Giriraj Singh in New Delhi on Monday. The meeting, which focused on several key concerns affecting the regional textile industry, was attended by SGCCI President Vijay Mevawala and South Gujarat Textile Processing Association (SGTPA) President Jitendra Vakhariya. Union Minister for Jal Shakti, C R Paatil, was also present. Central to the discussion was the appeal to remove the Quality Control Order (QCO) on specific specialty polyester yarns that are not produced domestically and are currently imported from China. These include mechanical stretch yarn, bi-shrinkage yarn, high denier polyester industrial yarn, and various low denier yarns. The SGCCI argued that lifting this order would ensure the availability of these critical materials, thus bolstering the growth and competitiveness of India's textile sector. The industry representatives also called for sweeping reforms to support the textile sector. A key demand was the revival of the Amended Technology Upgradation Fund Scheme (ATUF). This request comes in light of India's current 2 per cent contribution to global textile exports, with the government aiming to increase this figure to 10 per cent by 2047. "To achieve this ambitious goal, substantial investments are needed in downstream processing and knitting industries, making the resumption of the ATUF scheme crucial," the SGCCI stated. Another significant point raised was the reinstatement of the Yarn Bank Scheme. The implementation of the QCO has reportedly led to substantial price increases and reduced yarn availability, particularly affecting small weavers. The SGCCI emphasised that reviving the Yarn Bank Scheme could help alleviate these challenges by ensuring a more stable and affordable yarn supply. This meeting underscores the ongoing challenges faced by India's textile industry and the push for policy changes to enhance its global competitiveness. As the sector aims for ambitious growth targets, the dialogue between industry leaders and government officials becomes increasingly crucial in shaping the future of India's textile landscape.
Source: KNN India
Ahmedabad: Textile traders in the city will adopt new payment norms after the introduction of Section 43B(H) of the Income Tax Act. Most traders say it is not possible to adopt a 45-day payment cycle so quickly but have decided to limit the credit period to 100 days, which was earlier as long as 180 days. Traders will organize a rally in the city’s textile markets on Thursday to make others aware of the change in rules. Gaurang Bhagat, president of Maskati Kapad Market Mahajan, said, “We have seen an increase in the number of fraud cases in the textile business in the last few years. We want to reduce the credit period because most frauds happen due to the long payment cycle of up to 180 days. We have decided to reduce this to under 100 days.” Maskati Mahajan, Gujarat Garment Manufacturers’ Association (GGMA), Panchkuwa Kapad Market Mahajan, Sindhi Kapad Market Mahajan, Nutan Cloth Market and Shirting Association among others will be part of the rally, which will go to 15-odd textile markets. Naresh Sharma, secretary of the Maskati Mahajan, said, “We have asked traders to work only with registered brokers, so in case of default, we can help them. We have also asked traders to register their brokers.” Tnn
Source: Times of India
Correspondent, Patna There is a good news about the industrial development of Bihar. The two-day textile investors meet will start from July 18 in Patna. The meet will conclude on July 19. The meet will be held in a private hotel. State Industry Minister Nitish Mishra said that Chief Minister Nitish Kumar, Textile Minister Giriraj Singh will be specially present in this event. More than fifty investors will participate in this meet. Representatives of major companies like JD Giri, Ankur Trivedi of Shahi Exports, Arvind Mills, Pallab Banerjee of Pearl Global, Orient Craft Limited and Reliance etc. will be present in the meet. Meanwhile, a Hajipur based company of Bihar is supplying 'Made in Bihar' shoes to the Russian army. Competence Export Private Limited, which makes designer shoes, is earning 100 crores annually by exporting to some other companies in Europe. It makes safety shoes for the Russian army and luxury designer shoes by targeting the markets of many other countries including UK, Italy, France, Spain. This fact is a new script for the industrial development of Bihar. According to an official report, since the textile policy came into force on May 26, 2022, 88 new units have shown interest in Bihar. Some of these have already landed on the ground. The investment process of some is going on. So far, investments of Rs 481.89 crore are going to be made in this sector. So far, reputed companies like V-2, New Zeal, Highspirit Commercial Venture, RSCS International, Cosmas are investing in Bihar in this sector in the state. Units like V-2 and RSCS have already come in the textile cluster of Muzaffarpur. The bag cluster of Muzaffarpur has emerged as the largest bag cluster in India. Pearl Global and Decathlon manufacturer ATPL will invest. Meanwhile, Bihar has progressed rapidly in the textile sector. Pearl Global, known for exports in the textile sector, has acquired 1.8 lakh square feet of ready to move plug and play space. By September 24, it will start its unit here. ATPL, the manufacturer of Decathlon, has shown interest in acquiring 61 thousand square feet of land. This is good news for industrial development. The arrival of these companies in Bihar will create new employment opportunities for the youth.
Source: Prabhat Khabar
The Tamil Nadu Generation and Distribution Corporation (Tangedco) will collect 0.35 paisa a unit additional tariff and ₹35 / KVA as additional Maximum Demand charges from these mills. The power charges went up by ₹75,000 a month last year. Such constant hike in power cost was making the textile industry of Tamil Nadu uncompetitive as other States were giving several concessions to boost the textile sector, he said in a press release. M. Jayabal, president of the Recycle Textile Federation, said the Tangedco had increased the power cost by 4.83 %. The MSMEs in Tamil Nadu jointly organised several peaceful protests for relief from the high cost. The government hiked the Maximum Demand charges by 433 %. The industry is demanding reduction of these charges as irrespective of the capacity utilisation, the mills shell out ₹17,136 a month. “Prior to the Lok Sabha polls, when the ministers-in-charge came to seek our support, they assured us that the requests of the MSMEs will be given consideration after the election,” he claimed. But, the Tangedco has increased the power tariff by 4.83 % again which is a “huge blow”. This will hit badly 3.36 lakh LTCT consumers and 2,600 companies belonging to the manufacturing sector that uses HT connections, Mr. Jayabal said. If the government does not heed to the demand of the MSMEs, the units have no option but to resort to protests, he said. The job working powerloom units in Somanur said the master weavers were paying them the wages paid in 2011. However, power costs have increased by ₹1.5 a unit in the last three years. Hence, there is no option but to demand higher wages from the weavers. The government should support the job workers in this effort and ensure that the job working powerloom units get viable wages, said M. Kumarasamy, president of the association.
Source: The Hindu
CHENNAI: The Micro Small and Medium Enterprises (MSMEs) have threatened to protest if the state government fails to roll back the increase in power tariff. “Increase in power tariff by 4.83 per cent would cripple MSMEs from doing business. This hike has come at a time, when the industrial sector is already demanding for cancellation of demand charges hiked by 433 per cent. Due to non-cancellation, we were forced to pay Rs 17,136 every month, even if not operating,” said M Jayabal, president of Recycle Textile Federation, in a statement on Wednesday. Because of the power tariff hike, 3.36 lakh LTCT consumers and 2,600 companies belonging to the manufacturing sector that use high tension connections were dealt with a major blow. “If government fails to heed to our demands, then MSMEs will have no other option, but to resort to protests once again,” he added. Similarly, the Southern India Mills Association (SIMA) has appealed to Chief Minister MK Stalin to withhold the power tariff hike for two years till the industry revives from recession caused by Covid-19 pandemic and ongoing wars among global nations. “The textile industry began to lose its competitiveness, when the state started facing acute power shortage during 2008 to 2015. Thereafter, a constant hike in power tariff made the textile industry, especially the spinning sector uncompetitive. This led to lack of modernisation and over 70 per cent of the spinning capacity is more than 15 years old resulting in spinning mills incurring huge losses,” said SK Sundararaman, chairman of SIMA. Tamil Nadu has around 2,500 spinning mills, including open end and small-scale units, providing jobs to over 60 lakh people directly in the state. “Under these circumstances, the power tariff hike from Rs 8.65 per unit to Rs 9.09 per unit for HT consumers will affect the entire industrial sector, especially the MSMEs,” he added.
Source: Dtnext
Addressing a number of challenges affecting the local textile industry, the Southern Gujarat Chamber of Commerce and Industry (SGCCI) addressed Union Textile Minister Giriraj Singh in New Delhi. SGCCI President Vijay Mevawala and South Gujarat Textile Processing Association (SGTPA) President Jitendra Vakhariya attended the meeting, which was also attended by Union Minister for Jal Shakti, C R Paatil. The Quality Control Order (QCO) placed on a few specialty polyester yarns that are being imported from China and are not produced domestically has been challenged, according to SGCCI President Vijay Mevawala. These yarns include industrial high-denier polyester yarn, mechanical stretch yarn, bi-shrinkage yarn, low denier low filament yarn, and low denier high filament yarn. The SGCCI stressed that lifting the QCO would help the textile business in India by guaranteeing the supply of these necessary resources, which would assist the industry’s expansion and competitiveness. In order to assist the textile sector, Mevawala also demanded important changes, such as the resuscitation of the Amended Technology Upgradation Fund Scheme (ATUF). It was brought up at the meeting that India currently contributes just 2 per cent of the world’s textile exports, with the government hoping to raise this to 10 per cent by 2047. It was also requested that the Yarn Bank Scheme be reinstated. Small weavers are facing tough challenges as a result of the QCO, which has resulted in large price increases and decreased yarn availability.
Source: Apparel Resource
Arunachal Pradesh will soon constitute a committee to draft a new industrial policy aimed at attracting investments to the state, Industries Minister Nyato Dukam said. The minister made the announcement during a review meeting with senior officers of the Industries, IPR and Printing, Trade and Commerce, Skill Development and Entrepreneurship, Labour and Employment, Textile and Handicrafts, and Sericulture departments on Tuesday. Dukam said inputs will be taken from stakeholders to ensure the policy fully realises the state's industrial potential while maintaining investor-friendly measures. He also called for robust coordination among departments to explore and capitalise on opportunities that will enhance the dynamism and success of these departments.
During the meeting, officials from each department made presentations, detailing various challenges, opportunities, and strategies moving forward.
Source: Business Standard
From yarns and fabrics to finished garments and home products — each stitch connects China's textile industry to the world. This week, more than 500 Chinese companies are displaying their latest innovations and sustainability efforts at a major industry event at the Javits Center in New York City. The 25th China Textile and Apparel Trade Fair, Texworld New York City, Apparel Sourcing New York City, and Home Textiles Sourcing Expo New York City are participating in the three-day exhibition at the sprawling convention center in Manhattan, which started on Tuesday. It primarily focuses on two major themes: "Future Trends" and "Sustainability". More companies are joining the eco-friendly movement; 137 Chinese companies have environmentally friendly certifications, about 29 percent of participants. The semiannual exhibition is jointly organized by the Sub-Council of Textile Industry, China Council for the Promotion of International Trade (CCPIT), and Messe Frankfurt North America. More than 700 enterprises from 22 countries and regions will converge in an exhibition area of more than 21,500 square feet (20,000 square meters). Long lines formed in the registration area, made up of buyers from the textile and apparel industry, including retail giants Target, Macy's, Walmart, JCPenney, Athleta, American Eagle and Ralph Lauren. Chinese companies also featured those companies' logos at their booths, indicating who buys their products. "We have participated in this exhibition for more than a decade. The biggest change we've seen is the gradual upgrading of the Chinese textile industry," said Sheng Wubin, CEO of Ningbo Mondiland Fashions, a maker and distributor of men's suits and coats. "We are now producing more advanced products, with faster response times in product development, higher technical requirements and superior quality," Sheng told China Daily. The company has annual revenue of $30 million, with markets in the Americas, Europe and Japan. "Ningbo is the hometown of tailors. Our local industry integrated with the development of Ningbo and Shanghai very early," he said. "In the 1920s and 1930s, we introduced many Italian, Japanese and German suit-making technologies and equipment into our garment town, forming a complete system." Sheng said that the company's greatest strength "lies in our understanding of different markets and meeting their stylistic needs with significant changes and improvements". "Ningbo's strong supply chain has also provided us with substantial support," he said. "We hope to see Chinese diplomats wearing suits designed and made in China on the international stage." Zameer Syed, the operational director of SNS Fashion Ltd, noted that speed of delivery and fabric innovation are strengths of the Chinese manufacturers. SNS, which started operations in China in 2002, supplies fabrics to most US apparel branches. "All the Chinese supplies are not regular supplies; they have innovations and sustainability," Syed said.
Constantin von Vieregge, president and CEO of Messe Frankfurt, said: "There was always the 'stigma' that Chinese exhibitors are lower quality, the cheap fashion. But that has changed completely over the years. So you can see they're getting better and better from a quality perspective." The company has been cooperating with the CCPIT for years, bringing Chinese companies and exhibitors to North America, France, Brazil, and Singapore as well as international exhibitors to Shanghai. The locations are hubs of international sourcing for yarns and fabrics and serve as selling windows for knitting, hosiery, sports and outdoor wear and digital intelligence technology in the industry. "It [the partnership with China] is a very, very important one for us because obviously, the Chinese economy is such a strong economy; there are so many great exhibitors," von Vieregge said. "Everybody needs clothes, and we all need affordable clothes." Von Vieregge said "the consumer wins" in a competitive situation. He said that having so many Chinese companies participating in the global textile market is not overcapacity but vibrancy. "The demand will regulate the market," he said. "The strongest partner, or the strongest company, will always win." "Now we see there are more and more coming from Chinese exhibitors, the awareness about sustainability and you can see every year it's getting better and better," von Vieregge said. Erin Baker, a fashion student from Kent State University, told China Daily that it's been "really cool to see, just different kind of ways people are trying to implement sustainability into their brands". "They were able to kind of show us insight into how more brands are the more sustainable, what is behind the scenes," she said. "Sustainability is a trend." Gigi Marinho, also a fashion student at Kent State, said she was "wowed" watching a demonstration of the design and manufacturing process of a Chinese textile company. China's textile and apparel exports totaled $115.84 billion from January to May 2024, a 1.4 percent increase over the same period in 2023, according to the General Administration of Customs. In May, export value exceeded $26 billion, a year-on-year increase of 4.5 percent. Exports to the United States rebounded, growing by 9 percent year-on-year, while exports to ASEAN countries saw a jump year-on-year of 21.3 percent.
Source: China Daily
The new ocean service will complement existing services SH1, SH2 and IA7 between the two countries and offer additional capacity to address the rising demand A.P. Moller-Maersk (Maersk) launched a new ocean shipping service between China and Bangladesh to meet the growing trade demand, especially in the retail industry. The new service, called SH3, commenced service on 7 July 2024 and adds more capacity to the ocean network between the two countries.
“In this time-sensitive industry, retailers demand timely delivery across the entire supply chain to meet their customers’ fast-changing expectations. The new network accelerates the supply chain and benefits Chinese textile raw materials exporters and garment manufacturers in Bangladesh”. – Wen Bing Lim, Regional Head of Intra-Asia Market at Maersk. “The demand for textiles and garments from Bangladesh in the Western markets is constantly growing. Our customers have been demanding more capacity for raw materials coming into Bangladesh and readymade garments getting exported. The redesigned network allows textile manufacturers in Bangladesh to gain flexibility and speed for imports of raw material as well as exports of finished goods, supporting Bangladesh’s fast-developing Readymade Garment (RMG) industry”. – Nikhil D’Lima, Head of Maersk in Bangladesh. The SH3 rotation starts from Shanghai Port in China, with calls at Xiamen, Kaohsiung, Nansha and Tanjung Pelepas on the way to Chittagong, Bangladesh. On the return journey to Shanghai Port, SH3 will call Tanjung Palapas, where long-haul routes to Europe are connected. The introduction of the SH3 service will complement the existing SH1, SH2 and IA7 services between China and Bangladesh. Adjustments have been made to SH1 and SH2 to optimise the offering further. The combination of these services expands coverage in China, providing multiple options for loading cargo throughout the week from Shanghai, Nansha, and Ningbo and more direct shipping choices to Bangladesh. The varied options in transit time and frequency for customers will allow them to have not only additional capacity but also flexibility and efficiency in their supply chains. Textile exports account for a significant portion of China’s exports to Bangladesh. The Bangladesh RMG industry comprises over four thousand factories serving over 100 international clothing brands. Bangladesh exports to more than 150 countries a wide variety of knitwear and woven garments, such as shirts, trousers, T-shirts, denim, jackets, and sweaters. A.P. Moller – Maersk is an integrated logistics company working to connect and simplify its customers’ supply chains. As a global leader in logistics services, the company operates in more than 130 countries and employs around 100,000 people. Maersk is aiming to reach net zero emissions by 2040 across the entire business with new technologies, new vessels, and green fuels.
Source: Indian textile Magazine
Puma said it has produced millions of recycled football jerseys as part of its RE:FIBRE initiative as it continues to build on the 46,000 that were produced in 2023. The brand explained its RE-FIBRE programme sees virgin polyester replaced with recycled polyester made with a minimum of 75% recycled textile waste in all its football first team replica kits for the 24/25 season, which includes jerseys for 35 clubs and those for the Euro and Copa América tournaments. The brand is exploring diversified ways to recycle polyester – such as thermo-mechanical and chemical recycling techniques that are said to significantly increase the capacity to recycle textile waste. Puma also seeks to reduce its reliance on plastic bottles to produce recycled polyester products. Puma chief sourcing officer Anne-Laure Descours said: “RE:FIBRE gives football fans a tangible example of how Puma is working towards creating a Forever Better. Our wish is to have 100% of our polyester products created from textile waste. Rethinking how we produce and moving towards a more circular business model is important and RE: FIBRE is central to that.” In 2022 Puma said it was on track to reaching its goal of making nine out of ten products with better materials by 2025 and it continued to power 100% of its offices, stores and warehouses with renewable energy.
Source: Just Style
New York (VNA) – Thirty-nine Vietnamese textile enterprises are participating in Texworld New York City, a leading international trade fair for fashion and apparel procurement held biannually in New York, the US. The three-day fair, which opened on July 16, has gathered hundreds of suppliers and designers in the global textile and garment supply chain. The Vietnamese firms showcase products with diverse and creative designs, many of which are made from green and environmental friendly materials such as coffee and lotus fibers. Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the United Nations, appreciated the impressive presence of Vietnamese textile and garment products in New York City - one of the world's leading fashion centres. Textile-garment is Vietnam's main export product and ample room remains for its businesses to expand market share, he said, underlining the need to approach potential customers, learn about and promptly grasp fashion trends and focus on innovation, meeting the demand of choosy markets like the US. The diplomat suggested that Vietnamese associations and businesses continue to coordinate closely with the country’s representative agencies in the US, including the Permanent Mission of Vietnam in New York, to bring Vietnamese products closer to the local market, thereby contributing to creating new development momentum for the country’s textile and garment industry and strengthening trade relations between the two countries.
Source: Vietnam
NEW YORK, Jul 17 (APP): Over 600 exhibitors from around the world, including Pakistan, are showcasing their textile products at TEXWORLD-2024 which began in New York on Tuesday The exhibition, being held at the huge Javit’s Centre, was visited by a large number of buyers on the opening day. It will remain on view for three days. Described as United States’ east coast’s leading sourcing event, it is featuring thousands of fabrics and garments from hundreds of global textile manufacturers and suppliers in both the traditional and hybrid format. Sponsored by the Trade Development Authority of Pakistan (TDAP), seven Pakistani companies are among the exhibitors. Pakistan’s Consul General in New York, Aamer Ahmed Atozai, along with Adnan Awan, the Trade & Investment Counsellor, New York, visited the booths of Pakistani companies. These companies reported meetings with quality buyers and said these interactions were productive. Many buyers also visited TDAP’s booth and expressed interest in sourcing opportunities from Pakistan. They also expressed interest in Texpo, another textile exhibition which will be held in Karachi in October this year.
Source: PK News
