Whizzo, a Bengaluru-based startup specializing in engineered and technical textiles, has raised US$4.2 million in a seed funding round led by Lightspeed, with participation from Bee next. The funding will be used to enhance research and development in materials science. It will also help establish a design lab and strengthen supply chain infrastructure in India, Vietnam, China, Bangladesh, and Indonesia. Founded in 2024 by Shrestha Kukreja, Whizzo creates customized textile blends using woven, non-woven, and composite technologies for various industries. The company is currently working with over 25 clients and plans to expand its customer base to over 100 in South America, West Asia, Africa, Europe, and Japan. Investors of Whizzo expressed confidence in the company’s potential to foster innovation and sustainability in India’s textile industry.
Source: Techinasia
Mumbai (Maharashtra) [India], January 28: The Indian International Textile Machinery Exhibitions Society (India ITME Society) yet another time is poised to take the textile industry by storm with the third edition of the Global Textile Technology & Engineering Show (GTTES 2025), a landmark event for the textile industry from the 21st to 23rd February 2025 at the Bombay Exhibition Centre, Goregaon (East), Mumbai, India. This event by the India ITME Society promises to be a global platform for the textile industry and engineering sector across the world showcasing the latest advancements, innovations, and opportunities with the aim to redefine global textile innovation.
Talking about this event, Mr Ketan Sanghvi, Chairman and members of the steering committee of India International Textile Machinery Exhibitions said, "GTTES 2025 is a transformative event, aimed to be responsive to the changing needs of the global textile and machinery industry. Beyond yarn and fibers, it will cover state-of-the-art advancements in weaving, processing, finishing, garments, knitting, and technical textiles with eco-friendly practices and sustainable growth. The event will witness extensive participation with top exhibitors coming up with innovative solutions, product launches, and precious networking opportunities. It is to be a part of India's textile ecosystem, which would help the nation achieve its vision of becoming a global leader in textile technology and engineering by 2047."
Ever since 1980, the Indian ITME Society has organized some massive shows and events like India ITME, ITME Africa & Middle East, and GTTES trying to capture the World's attention to strengthen fabric preparation & processing by expanding India's wings in knitting, and garmenting techniques, attracting international exhibitors, visitors, and investors.
GTTES 2025 marks an important journey for India's Textile Industry, the third edition of GTTES is set to elevate the Indian Textile Ecosystem by bringing together 175 exhibitors across eight major categories. With special emphasis on advanced weaving, machinery, sustainable processing solutions, digital printing, and knitting technologies, are featuring 42 exhibitors in weaving and 38 in processing alone.
The Indian textile market is poised on a growth trajectory toward US$ 350 billion by 2030, while textile exports are expected to reach US$ 100 billion. GTTES will take center stage to drive technological innovation to help achieve this vision in 2025. The event will be a showstopper, as green technologies and sustainable solutions are going to be the biggest highlights of this event, making GTTES the hub for advanced textile technologies.
Leading suppliers of textile technologies from countries including Germany, Switzerland, and China shall ensure that GTTES 2025 is an outright world-level event. Over 27 countries such as Australia, Bangladesh, China, Germany, the US among others will also be represented during the event which is estimated to attract more than 25,000 professionals. As part of it, B2B meetings involving international delegations from Sri Lanka, Ghana, and Ethiopia shall aim at further cementing trade collaboration with India.
As the exhibition comes closer, GTTES 2025 is eager to showcase product launches from top industry players in the country Shuttleless Looms Pvt Ltd, Samruddhi Engineering, Om Corporation, Ingersoll-Rand (India) Limited, Sumaria Global Sales LLP, to name a few. There also will exclusive investment promotion program by the Chhattisgarh Government to highlight the opportunities in the state. It will not only be a trade exhibition but an energizer to fuel the Indian Textile Industry toward the world market. The exhibition is set to start from 21st to 23rd February 2025, at Bombay Exhibition Centre in Mumbai, India, whether you are a manufacturer, distributor, investor, or industry professional, GTTES 2025 is the place to be. Don't miss the chance to witness the groundbreaking innovations and valuable partnerships that will shape the future of the textile industry.
A remarkable exhibition showcasing the needs of the Textile Industry, an exclusive forum to explore the fascinating world of textiles through stunning displays, interactive installations, and thought-provoking artwork. It is an opportunity to immerse yourself in creativity and inspiration. The exhibition promises to be an unforgettable journey and it is dedicated to magnifying the business and trade for Textile Machinery Manufacturers, through interaction with agents/dealers not only from India but also from across the Globe. It serves as a platform for companies to demonstrate their products, network with potential clients and partners, and stay updated on industry trends of Textile Business. The textile industry also accounts for 13% of industrial production, 2.3% of GDP, and 12% of foreign exchange inflows into the nation. India has a 4% share of the global trade in textile and apparel.
Source: Business Standard
Synopsis India's commerce and industry ministry is reviewing President Trump's America First Trade Policy to assess its impact on national trade. The policy involves the US negotiating bilateral and sector-specific agreements, imposing tariffs on partners to correct trade deficits. Prime Minister Modi is expected to visit the US, highlighting India's significance as a trading partner amid these evaluations. New Delhi: India is conducting a legal review of US President Donald Trump's America First Trade Policy to gauge its implications on the country's trade agenda.
Source: Economic Times
Synopsis India will likely reduce its net borrowings for the second consecutive year, which may extend the rally in Indian bonds as the government aims to adhere to its fiscal consolidation path. The central bank's measures have brought bond yields to a threeyear low, with major purchases expected to ease cash deficits and support the financial market. India’s net borrowings will likely decline for a second straight year, possibly extending a rally in the nation’s bonds, as the government is expected to stick to its fiscal consolidation path. Prime Minister Narendra Modi’s administration will borrow 11.4 trillion rupees ($132 billion) for the fiscal year that begins April 1, lower than the 11.6 trillion rupees for the current year, according to the median estimate of 20 economists polled by Bloomberg. Gross borrowing, which includes repayments, may rise slightly to 14.7 trillion rupees.
The borrowing announcement will be made during the Feb. 1 federal budget, with the financial system facing a cash squeeze and foreign investors selling out of India’s markets. Finance Minister Nirmala Sitharaman is tasked with reviving growth, maintaining fiscal discipline, and win a sovereign ratings upgrade. Most economists predict she’ll stick to the roadmap of narrowing the budget deficit to 4.5% of the gross domestic product in the next fiscal year. “The fiscal consolidation should continue to bring down the deficit to more sustainable levels and reduce the overall debt pile,” said Pankaj Pathak, fixed income fund manager at Quantum Asset Management Co. “This is a favorable environment wherein the supply of bonds is not growing or growing at a tepid pace” while demand from long-term buyers is rising.
While demand from insurance and pension funds will continue to support the market, the key change is a shift in incremental demand. The central bank is seen as a main buyer of sovereign debt amid waning demand from overseas funds. The secondary market purchases are aimed at easing a cash deficit, which widened to its most in a decade last week. Nomura Holdings Inc. earlier estimated around 2 trillion rupees of purchases from the RBI, while Standard Chartered Plc’s forecast was for as much as 1.5 trillion rupees for the coming year. More liquidity infusion might still be needed before the fiscal year-end in March, analysts at Standard Chartered and Citigroup Inc. said after Monday’s announcement. This comes as heightened global uncertainty clouds the outlook for foreign flows into India. The country will reach its full 10% weight in JPMorgan Chase & Co.’s emerging market bond index by March, likely diminishing a key source of demand. Last year, bonds eligible for index inclusion drew $14.3 billion, pushing Indian yields down 41 basis points, even as US yields surged nearly 70 basis points. The 10-year yield is expected to drop to 6.50% by the end of the year, as per the Bloomberg poll, suggesting about 15 basis points easing from the current levels. “While gross Indian government bond issuance could increase modestly in FY26, the continued decline in net issuance is more important,” Morgan Stanley analysts including Upasana Chachra wrote in a note. “That should still allow government securities to rally over the medium term.”
Source: Economic Times
Synopsis India's Budget is a critical opportunity to enhance trade ties with the US, focusing on strategic tariff adjustments to avoid trade conflicts. The need to shift from low-skill to high-precision merchandise is essential for sustaining export-led growth, amid global economic uncertainties. Union Budget 2025: India had embraced an export led growth model since the 1990s. It served well during an era when the rich northern economies were increasingly benefiting from the comparative advantage associated with labour intensive goods from poorer south. Powered by the 1991 reforms, India became a major participant in this North-South trade flows, and consequently witnessing a surge in low-skill manufacturing exports such as apparel, textiles, leather, and footwear, to compliment a surge in IT services exports. Budget 2025: A Crucial Opportunity for India-US Trade Ties The Union Budget FY26 will present a good opportunity for India to showcase its intent on expanding fair trade ties with US, with Trump’s inauguration scheduled few days before it. While India has been actively reducing tariffs on US imports, in many cases from 100% to 50%, in this budget some customary adjustments to tariffs particularly for imports of transport equipment, electrical machineries and electronics could be a sign of truce from India ahead of an imminent trade war which USA is determined on waging! Budget of Globalisation: Driving Growth and Development Globalisation helped usher in a new era in India’s growth and development and improved the standard of living with better access to basic necessities like health, education, and livelihoods. World Bank data suggests that India’s foreign trade as a percentage of its GDP rose from 11% during the 1960s to approximately 50% by the 2020s. Budget Reforms for High-Precision Merchandise The second phase of a successful export led growth strategy demands the country to gradually transition from low skilled basic goods to more high precision merchandise. While India may have faltered in this phase multiple times in the past, a focussed policy approach over last 10 years has been instrumental in gradually overcoming the bottlenecks.
Source: Economic Times
Synopsis GST will not be charged on penal charges levied by banks and NBFCs, as clarified by the CBIC. This exemption is due to such charges being deemed as breaches of contract terms. Additionally, GST exemption applies to Payment Aggregators for transactions up to Rs 2,000, but not to Payment Gateway services. Goods and Services Tax (GST) will not be applicable on penal charges levied by banks and non-banking finance companies (NBFCs), the CBIC has said. The Central Board of Indirect Taxes and Customs (CBIC) through a circular has also clarified that GST will not be levied on transactions of up to Rs 2,000 facilitated by payment aggregators on online platform. Clarifying the issue of GST applicability on penal charges levied by banks and NBFCs, the CBIC said penal charges levied by Regulated Entities governed by the RBI are essentially in the nature of charges for breach of terms of contract and hence, do not attract GST. payable on the penal charges levied by Regulated Entities... for noncompliance with material terms and conditions of loan contract by the borrower," the CBIC said. AMRG & Associates Senior Partner Rajat Mohan said this clarification is significant as it settles interpretational disputes at the field level. "By reiterating the essence of contractual obligations' that contracts are meant for performance and not breach' the GST Council has eliminated ambiguity regarding the taxability of such charges. The exclusion of penal charges from the GST ambit ensures compliance with RBI directives and prevents undue financial burdens on regulated entities and borrowers," Mohan added.
With regard to taxation on payment aggregators, the CBIC said it has received representations seeking clarity on the applicability of GST exemption to Payment Aggregators (PAs) in relation to settlement of up to Rs 2,000 in a single transaction, transacted through credit card, debit card, charge card or other payment card services. merchants to accept various payment instruments from their customers without the need for the e-commerce sites and merchants to create a separate payment integration system of their own. In the process, PAs receive payments from customers, pool and transfer them on to the merchants within a specified time period. The CBIC also quoted RBI guidelines which distinguish PAs and Payment Gateways, which provide technology infrastructure to route and facilitate processing of an online payment transaction without any involvement in handling of funds. "It is hereby clarified that GST exemption ... is available to RBI regulated Payment Aggregators (PAs) in relation to settlement of an amount, up to Rs 2,000 in a single transaction, transacted through credit card, debit card, charge card or other payment card services, as PAs fall within the definition of 'acquiring bank'," the CBIC said. The CBIC also clarified that this GST exemption is limited to payment settlement function only, which involves handling of money, and does not cover Payment Gateway services. EY Tax Partner, Saurabh Agarwal said the clarifications issued by the CBIC on interpretative issues demonstrate the Government's commitment to foster a predictable tax environment for businesses. This approach is likely to lead to greater tax certainty and a more conducive business environment.
Source: Economic Times
Synopsis FICCI survey reveals support for revising direct tax structures in the Union Budget 2025- 26 to boost consumption and growth. Industry leaders call for simplified tax regimes, green technology incentives, and increased public capex to sustain economic momentum. Ahead of the Budget, a majority of the members surveyed by FICCI favoured review of the directtax structure with a view to spur demand and boost growth. A re-look at the slabs and the tax rates is warranted as this could leave more money in the hands of people and spur consumption demand in the economy, FICCI said. The current round of FICCI's Pre-budget 2025-26 survey was conducted between late December 2024 and mid-January 2025. The survey drew responses from over 150 companies spanning across diverse sectors, offering a comprehensive insight into India Inc's sentiments amid moderating economic growth. The surveyed members expect that the country's GDP growth will be 6.5-6.9 per cent in 2025-26 financial year beginning March Respondents also called for a strong policy push on simplifying the tax regime, incentivizing the development of green technologies/renewables and EVs, and easing compliances through digitization. On the taxation front, providing tax certainty, addressing custom duty inversion, and rationalization of TDS provisions were highlighted as important themes by the participants.
The participants also showed support for an amnesty scheme under customs, with 54 per cent favouring its introduction to enable swift resolution of disputes. According to the survey, the government's commitment to fiscal consolidation has put the country in good stead as the participants expect the government to remain on that course. About 47 per cent of participants expected the government to meet the fiscal deficit target of 4.9 per cent for FY 2024-25 and another 24 per cent reporting that the government could improve and report a lower fiscal deficit number. for the current year. Besides, a majority of respondents highlighted the need for sustaining public capital expenditure, with 68 per cent calling for a thrust on capex to sustain the growth momentum. At least a 15 per cent increase in capex allocation for FY 2025-26 is being looked forward to by members of Indian industry. Additionally, over half of the respondents emphasized the importance of reforms to further enhance the ease of doing business. Reforms pertaining to factors of production - particularly in areas like land acquisition, labour regulations, and power supply - remain important.
Source: Economic Times
AEPC has urged the government to reform labour laws, improve workforce skilling schemes, and make fabric import policies more flexible to boost apparel exports. The goal is to achieve USD 40 billion in exports by 2030, with emphasis on capacity building and addressing skilled labour shortages. The council highlights India's design strength and favourable FTAs. Apparel exporters' body AEPC on Tuesday suggested the government to introduce reforms in labour laws, improve schemes for skilling the workforce and make policy for fabric import flexible to boost exports. Apparel Export Promotion Council (AEPC) Chairman Sudhir Sekhri said that the exports target of USD 40 billion for ready-made garments by 2030 is an ambitious aim, though the industry is making all possible efforts to achieve that. The government should "introduce reforms in Indian labour laws, improve schemes for skilling the workforce and make policy for fabric import flexible and industry friendly," he said. To discuss ways to increase exports, the council held a round-table discussion. The council said that India's biggest strength is its design prowess and raw material base and it must be leveraged. "Among the major asks of brands is the need for building capacity and fast-tracking manufacturing. Also, the skilled labour shortage which is hampering India's growth story needs to be addressed. Brand leaders also suggested that FTAs (free trade agreements) are working in our favour and orders have grown in volume," it added.
Source: Economic Times
Synopsis Madhya Pradesh Chief Minister Mohan Yadav announced that the state exported goods worth USD 92.8 million to Japan in 2023-24, while encouraging Japanese investments during his visit. Highlighting Madhya Pradesh's economic growth and potential, Yadav invited business leaders to the Global Investors Summit 2025 in Bhopal, where over 15,000 investors from 30 countries are expected. Madhya Pradesh Chief Minister MohanYadav said that the state has exported goods spanning multiple industries worth USD 92.8 million to Japan in 2023-24 on Tuesday, while inviting business leaders to explore investment opportunities in the state. Yadav was speaking during an interactive session on investment opportunities in Madhya Pradesh being held in the Indian Embassy here
He is on a four-day visit to Japan and will be visiting Tokyo, Osaka, and Kobe between January 28 and 31, 2025, as he aims to highlight Madhya Pradesh's He referred to the longstanding relations between Madhya Pradesh and Japan, citing the USD 92.8 million worth of exports from the state, and expressed hope to receive significant investments from the country Madhya Pradesh is one of the largest states in the country, with a population of 8.5 crore, and the state's economy has grown 3-fold in the past decade, Yadav said, adding that his government targets to double the growth of the economy in the next five years. The state is continuously working towards enhancing its industrial capabilities which will not only attract the country but the world to invest in MP, he said. The state is already attracting big-ticket investments across industries and there is abundant availability of skilled youth, Yadav said and expressed hope for a future where Madhya Pradesh and Japan walk hand-in-hand towards a bright future. The Madhya Pradesh Global Investors Summit (GIS) 2025 is scheduled to be held in the state capital Bhopal on February 24-25, 2025. More than 15,000 investors from over 30 countries are expected to attend this two-day summit, which will serve as a major attraction for industrialists.
Source: Economic Times
US President Donald Trump has grouped India alongside China and Brazil as “tremendous tariff makers”, vowing to impose tariffs on countries he claims harm the United States. During a separate telephonic conversation, Trump urged Prime Minister Narendra Modi to boost India’s procurement of American security equipment to foster a “fair” bilateral trade relationship. “We’re going to put tariffs on outside countries and outside people that really mean us harm. Well, they mean us harm, but they basically want to make their country good. Look at what others do. China is a tremendous tariff maker, and India and Brazil and so many other countries. So, we are not going to let that happen any longer,” Trump said at a rally in Florida. During a telephonic conversation on Monday, Modi and Trump discussed enhancing bilateral cooperation. A White House statement later said: “The President emphasised the importance of India increasing its procurement of American-made security equipment and moving toward a fair bilateral trading relationship.” Modi is expected to travel to the US in February, and immigration will be a key point of discussion, Trump told reporters aboard Air Force One late on Monday. The Ministry of External Affairs, however, did not confirm the February meet and instead said both have agreed to “meet soon at an early mutually convenient date”.
Until now, it was expected both leaders would meet at the 5th Quad Summit, set to be held in India later this year.
Under the “America First Trade Policy” memorandum, issued shortly after Trump first took office, the new US administration pledged to identify countries for bilateral or sector-specific agreements to secure export market access for American workers, farmers, ranchers, service providers, and other businesses. The United States Trade Representative (USTR) will subsequently make recommendations regarding such potential agreements. Although the memorandum did not name specific countries for higher tariffs, Trump has separately announced that Canada and Mexico will face increased tariffs starting February 1.
During Trump’s first term, India and the US held extensive talks on a mini trade deal. While significant progress was made, unresolved issues prevented the deal from being finalised. Trump’s America First Trade Policy also includes imposing global “supplemental tariffs” to counter “unfair and unbalanced trade,” with a focus on practices by countries such as China, Canada, and Mexico. Additionally, an External Revenue Service (ERS) is being established to collect tariffs, duties, and other foreign-related revenues. This marks the first time Trump has publicly highlighted India as a high-tariff nation since his second term began on January 20.
He had frequently labelled India as a “tariff king” during his first tenure.
Trump, last week, had reiterated his threat to the 10-member BRICS grouping, which includes India, that he would impose a 100 per cent tariff if it moves to replace the US dollar in global trade. Immigration issues. A potential Modi visit may see Trump emphasise immigration issues. On Monday, Trump expressed confidence that “India will do what’s right” on the issue of illegal immigration of its citizens to the US. Between October 2023 and September 2024, US authorities apprehended 90,415 “Indians” attempting to enter the country illegally. During the same period, the Department of Homeland Security (DHS) deported over 1,100 Indian nationals. DHS estimates there were 220,000 unauthorised Indian immigrants in the US as of 2022, forming part of the nation’s 13.3 million undocumented population. Modi as prime minister has visited the US nine times, so far, more than any other country, with his last trip in September 2024 for the 4th Quad Leaders’ Summit in then President Joe Biden’s hometown of Wilmington, Delaware. He made two visits to the US during Trump’s first term. Trump’s most recent visit to India was in February 2020, when he attended the Namaste Trump event in Ahmedabad.
Source: Business Standard
India and Oman on Tuesday signed an agreement to amend their taxation treaty — Double Taxation Avoidance Agreement (DTAA) — in an attempt to align it with “international standards on cross-border taxation, simplifying tax procedures, and promoting greater cooperation in tax matters”.
DTAA is signed between nations to avoid double taxation and prevent fiscal evasion as far as taxes on income are concerned. The “protocol” to amend the tax treaty was signed during Commerce and Industry Minister Piyush Goyal’s two-day visit to Oman, which ended on Tuesday (January 28). A protocol is typically signed so that countries are able to update DTAA, while ensuring effectiveness of the treaty. During his visit, Goyal and his counterpart Qais bin Mohammed Al Yousef agreed to expedite the discussions for an “early signing” of the Comprehensive Economic Partnership Agreement (CEPA). “The two ministers also exchanged views on a bilateral India-Oman CEPA, which is under advanced stages of negotiations. Both ministers agreed to expedite the discussions for an early signing of the CEPA, which will be a new milestone in bilateral trade relations and has the potential to significantly scale up two-way trade and investments,” the commerce department said in a statement. Both ministers also co-chaired the 11th Session of the India-Oman Joint Commission Meeting (JCM), which saw productive discussions on enhancing bilateral cooperation in trade, investment, technology, food security, renewable energy, and other key areas.
They also did a detailed review of the bilateral trade and economic relations between both nations and identified concrete steps to further strengthen mutually beneficial business ties. Goyal also met a select group of chief executive officers (CEOs) and business leaders of Oman, the statement said. Oman is India’s 30th largest trade partner, but the third-largest export destination among the six-member Gulf Cooperation Council (GCC) countries, after the UAE and Saudi Arabia. Bilateral trade between both countries stood at $8.9 billion in 2023-24 (FY24).
Source: Business Standard
Synopsis US President Donald Trump criticized China, India, and Brazil as "tremendous tariff- makers" during a speech to House Republicans, while emphasizing his "America First" agenda. Trump pledged to impose tariffs on countries he believes harm the US economy and encouraged foreign companies to operate within the US. This stance raises concerns about the future of US-India trade relations. In a strong stance on international trade, US President Donald Trump on Tuesday described China, India, and Brazil as "tremendous tariff-maker(s)" while addressing House Republicans at a retreat in Florida. He emphasized that his administration would no longer tolerate practices that he believes harm the US economy, underscoring his commitment to an "America First" agenda.
Trump pledged to impose tariffs on nations that, in his view, act against US interests. “We’re going to put tariffs on outside countries and people that really mean harm to us. Well… they mean us harm, but they basically want to make their country good,” Trump remarked. He specifically named China, India, and Brazil—key members of the BRICS bloc—as examples. "We’re not going to let that happen any longer… because we’re going to put America first,” he declared.
Recent talks between Modi and Trump Trump's comments follow a recent telephonic conversation with Indian Prime Minister Narendra Modi on Monday, where both leaders reportedly discussed their shared commitment to global peace and stability. However, it is unclear whether trade tariffs were part of the discussion. Reports indicate that Modi may visit Washington as early as next month for further talks. Tariffs as a tool for economic growth Trump reiterated his ambition to create a "very fair system" to bolster the US economy swiftly. “Instead of taxing our citizens to enrich other countries… we will tariff and tax foreign countries to enrich our citizens,” he said. In a clear message to international businesses, Trump invited foreign companies to set up operations within the US to avoid tariffs. “Build your plant right here in America,” he urged. Impact on US-India trade relations Trump's stance on tariffs is seen by analysts as a potential sticking point in the US-India trade relationship. India, the US’ largest trading partner, was previously criticized by Trump as a “very big abuser” during his presidential campaign. As discussions continue, the impact of these tariff policies on bilateral ties remains to be seen. Industry observers will closely watch the anticipated meeting between Modi and Trump for signs of potential shifts in trade dynamics.
Source: Economic Times
Despite the urgency for shift to circularity in the fashion and textile industry, stakeholders are not aligned on critical goals or actions to achieve those, and misalignment and a lack of clarity concerning overarching goals between actors and value chain tiers hinders collaboration, according to the Enabling Systemic Circularity in Fashion (ESCF).
The interconnecting costs of the transition towards a low-impact and ultimately regenerative sector are unevenly distributed across the value chain. The unequal spread of risk slows the pace of innovation, leads to defensive mindsets and frustrates progress, ESCF found.
ESCF is a collaborative undertaking led by Forum for the Future in partnership with a committed cohort of brands, retailers and manufacturers from four continents, covering multiple supply chain tiers. Founded in 1996, Forum for the Future is an international sustainability organisation, running out of offices in the United Kingdom, the United States, India and Singapore. Finance and policymakers need to ensure that dialogue with critical value chain actors is inclusive and effective. Large brands and retailers are often well represented. However, the voices of Tier 2, 3 and 4 suppliers or other stakeholders like recyclers are less heard and included. There is unexplored value in ‘safe’ spaces for challenging conversations among different value chain actors. Creating ‘safe’ spaces that allow such critical discussions to be held and builds up trust, respect and understanding and unlocks genuinely inclusive creativity, ESCF noted. The industry needs to rethink engagement with consumers as key actors in the value chain. The sector cannot wait for market demand for sustainable products to grow if the sector is to transform to a circular one with the urgency required, it observed.
Achieving circularity means going beyond technology and business models. Intangible innovations, such as those that shift relationships, ways of working and behaviours will play a key part in unlocking change, it added
Source: Fibre2fashion
The American Apparel & Footwear Association (AAFA) and Fair Labor Association (FLA) are leading a coalition of global apparel companies to promote responsible recruitment and employment in Taiwan’s textile sector. This initiative is part of the Commitment to Responsible Recruitment and is focused on increasing ethical sourcing in global apparel, footwear, and travel goods supply chains by eliminating recruitment fees and other practices that put migrant workers at risk for forced labor and other labor abuses.
Objectives of the initiative
The objective is to improve conditions for migrant workers in Taiwan’s textile sector by eliminating fees for recruitment and addressing other workplace issues. This initiative is part of the broader collective work that is supported by the Commitment to Responsible Recruitment. One important part of this ongoing effort is working together to eliminate conditions that can lead to forced labor in the countries from which we source products. We commit to work with our global supply chain partners to create conditions so that:
No worker pays for their job;
All workers receive a timely refund of fees and costs paid to obtain or maintain their job;
All workers retain control of their travel documents and have full freedom of movement; and
All workers are informed, in a language they understand, of the basic terms of their employment before leaving their country of origin.
Who is involved in the initiative
The initiative brings together more than 50 companies sourcing from Taiwan and their Taiwan-based suppliers, with the support of AAFA, FLA, and the Taiwan Textile Federation (TTF).
Expected outcomes
Improved working conditions for migrant workers in Taiwan’s textile sector through immediate remediation of issues found in audits; adoption of the employer pays principle by employers; repayment of recruitment fees to workers; and adoption of other workplace policy changes. Strengthened human rights due diligence (HRDD) of brands and suppliers through improved supply chain tracing and transparency to textile mills (generally Tier 2); improved brand and supplier policies and practices related to responsible recruitment of migrant workers; and robust stakeholder engagement. Government advocacy that will lead to systemic changes in Taiwan as well as in those countries that provide migrant labor so that the improvements are scaled and sustained across the sector rather than in a few factories.
Source: Fibre2fashion
Delegates from Bangladesh’s textile spinning mills and the international cotton community are urging the Government to establish dedicated cotton warehousing facilities to address challenges related to lead times and price fluctuations.
Md. Showkat Aziz Russell, President of the Bangladesh Textile Mills Association (BTMA), engaged in discussions with various Government entities regarding the potential for cotton warehouses that would allow for storage of up to three months. This initiative aims to alleviate issues stemming from extended lead times, which currently exceed 90 days, and to minimize price volatility within the market.
During a recent meeting with the Chairman of Chattogram Port, Russell proposed utilising idle seaport facilities for cotton storage. He emphasized that this collaborative strategy would optimize the supply chain and reduce costs for textile manufacturers. “By working closely with BTMA and BGMEA, we are striving to improve port infrastructure and streamline processes. This will help to mitigate price fluctuations and ultimately enhance the competitiveness of Bangladeshi textile mills,” Russell stated at the ‘5th Global Cotton Summit Bangladesh 2025,’ organised by the Bangladesh Cotton Association in partnership with BTMA. Russell also raised concerns about the increasing dependency on yarn imports from India, which accounted for 40 per of yarn usage last year. He warned that this reliance could lead to job losses in the domestic textile industry and urged the Government to take decisive action to curb illegal yarn imports.
Touhid Hossain, Foreign Advisor to the Ministry of Foreign Affairs, echoed Russell’s concerns over the lengthy cotton import lead times. He stated, “By establishing dedicated warehouse facilities, we can significantly reduce costs by 10-20 per cent and enhance supply chain efficiency. I am committed to expediting the implementation of these storage solutions.” Hossain emphasised that improving the availability of cotton within Bangladesh is essential for the sustainable growth of the industry.
Source: Apparel resource
The Philippine department of trade and industry (DTI) is confident of starting negotiations for a free trade agreement (FTA) with the United States under the Trump regime, DTI undersecretary Ceferino Rodolfo recently said. At the launch of a book titled ‘Doing Business in the Philippines’ released by the European Chamber of Commerce of the Philippines (ECCP), DivinaLaw, and the Philippine Board of Investments, DTI undersecretary Ceferino Rodolfo, who is also vice chairman and managing head of the Board of Investments, said some of Trump’s appointees had earlier expressed support for closer economic ties with the Philippines, domestic media outlets reported. “For President Biden, for his administration, it was so difficult to even have a watered-down statement that would say that the US notes the Philippines’ interest in a bilateral free trade agreement. Take that in contrast with the statement from President Trump in 2017,” Rodolfo told European businesses. The Joe Biden administration was quite cautious in responding to the Philippines’ FTA proposal, he said. “That will also push all of us to hurry up a bit in terms of what we already started in terms of the Philippines-EU FTA,” he noted. The Philippines-European Union FTA talks will begin the second round of negotiations next month. Meanwhile, ECCP urged the country not to lose steam in implementing policy and regulatory reforms, helping unlock the Philippines’ full potential.
Source: Fibre2fashion
