Global news roundup
The following is a round-up of apparel and footwear news from the world's local media. just-style has not checked these stories so cannot guarantee their accuracy.
- Pakistan's textile industry has potential to grow to US$25bn by 2015, according to the All Pakistan Textile Mills Association (APTMA). Chairman Ahsan Bashir talked about how to develop synergies to achieve market opportunities to the D-8 member countries operating in ASEAN and EU regions. He said further negotiations between these countries would help open up trade and investment for member countries. THE NATION
- Garments and sewing machines are two of the 22 items India has added to the list of items for border trade with Myanmar. The Directorate General of Foreign Trade (DGFT) said the existing arrangements under the Indo-Myanmar Border have been revised to take the total number of tradeable items to 62. Bilateral trade between India and Myanmar is expected to double by 2015 from $1.3bn, according to a study by Confederation of Indian Industry. THE HINDU
- The Pakistan Cotton Ginners Association (PCGA) has urged the government to frame a national cotton policy in view of present-day realities. The PCGA said the ginning sector was providing the government with excess revenue yet it was being neglected or harmed. All private and public banks were supplying loans at the rate of cotton of PKR1,800-2,000 per maund, while ginners were buying at INR2,700-3,000 per maund. BUSINESS RECORDER
- The Indian apparel industry is concerned with the delay in signing a free trade agreement (FTA) with the European Union (EU). Exports to the EU have slumped this year suffering the most in Italy, Germany and France with exports down by 33.7%, 31.3% and 28.5% respectively. The FTA, which was due to be signed in October-November, has now been pushed back to the first quarter of next year. THE ECONOMIC TIMES
- A large number of textile mills in Tamil Nadu, India are planning to move their operations to Maharashtra or Gujarat. This is because the two states have environmentally friendly policies and available power. Power cuts of up to 14 hours a day are common in Tamil Nadu. The mills said the move will help them save money on the cost of transporting cotton from these states to the south. THE HINDU BUSINESS LINE
- The Rajasthan government is looking to introduce a policy for the country's textiles industry by March 2013 that will make it more competitive in domestic and international markets. The State Department of Industries has drafted the policy, which will focus on manufacturing, developing skills and increasing exports. The government will hold at least one meeting with stakeholders and then send the proposal to the state Cabinet for approval. THE HINDU BUSINESS LINE
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