IFC, a member of the World Bank Group, is partnering with global apparel and footwear major VF Corporation and consumer products retailer Target Corporation to improve resource efficiency at their supplier factories in Vietnam. Under the first phase of this programme, energy and water efficiency assessments will be conducted at about 30 factories over the next 12 months to help them reduce operating costs and improve productivity while contributing to the country's green growth and climate ch

Pakistani Commerce Minister Khurram Dastagir Khan, has said that in order to encourage the textile sector, the value added tax (VAT) would become zero from July 1, 2016. The minister's comments came during an interaction with reporters after inaugurating the 15th Textile Asia 2016 Exhibition in Karachi recently. He also that the export of Pakistani readymade garments has increased in the international market and so have the prices due to quality products substantiated with value addition i

India’s blended spun yarns export value was up 4.9 per cent YoY in February 2016 while volumes rose 9.7 per cent as compared to the same month last year. 6.4 million kg of PC yarns was exported from India during the month. Polyester cottons yarns were exported to 57 countries in February 2016, of which, Bangladesh and Egypt were the largest importers of PC yarn from India followed by Morocco. Argentina, Pakistan, Indonesia and Poland were the fastest growing markets for PC yarns while Ch

The Government has offered financial support to the Việt Nam National Textile and Garment Group (Vinatex) for training the labour force in the textile and garment industry this year. The funds worth of VNĐ63.5 billion (US$2.9 million) would come from the State budget for education and training activities, reported the Đầu tư (Investment) online. Former Prime Minister Nguyễn Tấn Dũng has asked Vinatex to manage and use the funds under the existing re

PV Tex, of which PetroVietnam holds 74 percent of stake, halted its operation in September 2015 because of loss. In an effort to rescue the company, PetroVietnam has repeatedly asked to underwrite PV Tex’s products and impose high taxes on foreign imports since the factory became operational in 2014. PV Tex, capitalized at $325 million, was set up to take full advantage of the materials produced by the Dung Quat Oil Refinery and provide materials to the Vietnam’s textile & garment industr

Spinners managed to lay hands over the quality lint amid modest trading activity, dealers said on the cotton market on Tuesday. The official spot rate was unmoved at Rs 5,350 dealers said. In the Punjab prices of seed cotton were at Rs 2400 and Rs 3100, they said. In the ready business, nearly 1600 bales of cotton changed hands between Rs 5275 and Rs 5500, they said. According to the market sources, the spinners managed to make deals of fine quality, in the meantime they failed to go in a bi

Sri Lankan textile major Textured Jersey Lanka PLC (TJ) recently signed a Memorandum of Understanding (MoU) with the University of Peradeniya (UoP) to expand the smart textile segment of the industry. The company will fund research on the development of advanced textile materials, conducted by an expert research team appointed by UoP, it said in a press release. The exercise has a long-term goal of taking the textile industry in Sri Lanka and the region to the next level. TJ will use the rese

The government has asked the Central Institute for Cotton Research (CICR) to develop non-hybrid Bt cotton variety. With US-based seed giant Monsanto under fire in India over monopoly concerns, the government has expedited work to bring out a local genetically-modified version of cotton seed by next year, according to a PTI report. "The Central Institute for Cotton Research (CICR) has been doing research in GM cotton for quite some time now. In a recent meeting, the issue was discussed and

Trans-Pacific Trade Partnership likely to have serious implications on the textile sector, besides hitting garment exports to the US, the Indian Texpreneurs Federation has approached the government to take a closer look at the possible impact on the textile sector. In a letter to the Commerce Minister Nirmala Sitharaman, ITF Secretary Prabhu Damodharan reasoned that exporters from TPP member countries will get preferential access in the US market while non-members like India will lose out, es

China is encouraging its provinces and businesses to engage more with the western Nigerian state of Kwara, said the Chinese Ambassador to Nigeria Gu Xiaojie when meeting with the state governor in March. Also, the Vanguard newspaper of Nigeria quoted Gu as saying China will prioritize its relationship with the textile sector in the Kwara state, which is developing a textile industrial park. With the oil industry as a major pillar of the economy, plunging oil prices mean the most populous