The Governments of India and Iran have reached a basic barter deal, wherein India will be able to buy Iranian oil in exchange for its textiles. Initially, a preliminary agreement would be signed between the private sectors of the two countries for Iranian imports of textile machinery and raw materials from India, which would be followed by general agreements between the two Governments on exchange of oil for goods, Iranian Labour News Agency said quoting Reza Tofiqi, vice president for mark

Chinese sportswear maker 361 Degrees International Ltd reported a drop in winter orders of 17 percent, hitting Q1 profits. Other local sportswear brands have also witnessed a fall in orders and profits. Fujian-based Xstep saw fourth quarter orders plummet by 15 to 17 percent. Anta, another sportswear brand headquartered in Fujian, also had a five to 15 percent drop in orders in the fourth quarter. "The sportswear industry has reached maturity," said Ma Gang, an industry analyst. "Some player

Cotton prices remained unchanged as demand was normal and supply was limited supply. According to market sources, mostly South-based mills were active in buying. Gujarat Sankar-6 cotton was traded at Rs 37,900-38,200 a candy of 356 kg. Medium grade cotton stood at Rs 37,500-37,800. V 797 cotton A grade was offered at Rs 27,000-27,500 in Gujarat. Kapas or raw cotton was traded at Rs 945-975 for 20 kg and Kadi delivery kapas price was Rs 970-995. About 10,000-12,000 bales of 170 kg each of cot

The value added textile sector has opposed a proposal to abolish the ministry of textiles and merge it with the ministry of commerce. In a letter to PML-N chief Nawaz Sharif, the value added textile sector mentioned that the ministry of textile was established on the demand of the value added textile export sector and that its establishment boosted textile exports. The letter conceded that there were problems later as the policy was not implemented. Javed Bilwani of Value Added Textile

EU market was the second largest consumer of garments and textiles from Vietnam, after the US market, but the ongoing debt crisis in Europe has caused a slump in this industry, with Japan now replacing it as the second largest importer. The US, EU, and Japan markets have been key markets of Vietnam’s garment and textile industry for several years with the US as the largest importer, EU market following next and Japan at third place. In 2011, Vietnam’s garment and textile industry saw growth in

With an aim to create skilled workforce to cater to the manpower shortage in the textile industry, the Union Ministry of Textiles has decided to create specialized training centres at eight locations in the country, including Malegaon, for training workers as sewing machine operators (readymade garments) and fully computerized multi-head embroidery machine operator. Apart from Malegaon, the other seven centres are Kannur in Kerala, Bhagalpur and Ranagat in West Bengal, Nagry and Hyderabad in A

Wendy Sherman, U.S. under secretary of state for political affairs, talks during a news conference in Dhaka May 27, 2013. Credit: REUTERS/Andrew Biraj International garment buyers, particularly those in the United States, have a crucial role to play in ensuring the safety of Bangladesh's garment workers, a senior government official said on Monday. A series of deadly incidents at factories in Bangladesh, including the collapse of a building housing garment factories last month that killed

Alfred Dunhill, the Compagnie Financière Richemont-owned luxury menswear and leather goods label, has named Fabrizio Cardinali as its new CEO. Formerly CEO at Lancel, Cardinali will take up his new role from June 1, replacing Eraldo Poletto, who resigned from the label last month. This appointment is the latest managerial change at Compagnie Financière Richemont, the Swiss parent company that also owns Chloé, Azzedine Ala?a and Lancel, earlier this month the group’s chairman Johann Rupert anno

Campaign starts to improve standards in country gaining reputation as ethical source of clothing. It has been a month since a garment factory collapsed in Bangladesh, killing more than 1,000 people. The disaster has prompted calls for better regulation of the industry in the region. Sri Lanka, a neighbour of Bangladesh, is one country gaining a reputation as an ethical source of clothing, putting pressure on manufacturers to improve safety standards and workers' rights. The "Garments

Is there any prospect of a properly regulated garments industry in the country, and what would it mean for the market? A building collapsed killing more than 1,000 garment workers in Bangladesh last month. The disaster showed the terrible working conditions, and lack of safety, for millions of workers there. Both Bangladesh and the global community are coming to terms with their roles in the disaster, because whether consumers shop at Walmart or at Giorgio Armani, the clothes they buy are