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.
- Pakistani textile millers have told the government they will resort to street protests if electricity supplies are not restored to businesses in Punjab within a week. The All Pakistan Textile Mills Association suggested the government should ensure power supplies to the textile industry during peak hours at PKR16 per unit. The association claims the power authorities are not prepared to talk about the issue with manufacturers. THE INTERNATIONAL NEWS
- Combined textile and ready-to-wear clothing exports from the north western province of Bursa in Turkey exceeded US$1.5bn in the first 11 months of the year, according to data from the Uludag Exporters' Association (UIB). However, while textile exports increased 9.8% to $1.1bn, clothing exports slipped 5.4% to $453.2m during the period. The main market for the clothing exports was Russia. HURRIYET DAILY NEWS
- India's textile machinery exports are forecast to rise 16.7% to INR14bn this financial year compared to INR12bn a year earlier. The rise is due to strong demand for spinning machinery and components for textile machinery, according to the India International Textile Machinery Exhibition. Demand for Indian textile machinery has continued to rise over the last three years, despite the overall slowdown in major economies. BUSINESS STANDARD
- Textile associations in Pakistan have rejected a proposed rise in gas prices as they claim it would further increase business costs, hit industrial production and impact exports. The proposed 9.9% increase would hurt an industry that is already facing severe problems, the Pakistan Textile Exporters Association (PTEA) said. It has instead suggested the government cuts the number of taxes on gas. PAKISTAN OBSERVER
- India's textile exports fell 5.9% between April and September due to slowing demand in key markets like the US and EU. Textile exports reached $14.18bn during the first six months of the 2012-13 fiscal year, while the country's textiles exports stood at $30.4bn in 2011-12. To try to boost exports the government has reviewed its Foreign Trade Policy 2012-13, extending the 2% interest subsidy to include garments. THE ECONOMIC TIMES
- Yarn-forward rules weigh on Vietnam TPP potential
- Is China really going through a slump?
- Footwear to see "significant" gains from TPP
- TPP likely to lead to rise in US apparel imports
- Can supplier ratings reform purchasing practices?
- Gap to close 75 stores amid "disastrous" Q1
- H&M criticised for India, Cambodia labour abuses
- US Q1 in brief: Buckle, Destination XL
- Victoria's Secret discontinue swimwear to simplify
- M&S to see "departure" of sourcing chiefs?