The following is a round-up of apparel and footwear news from the world’s local media.
- A new report from ICRA has suggested the improved supply of cotton in India will provide spinners with some respite during a period of weakening exports and slowdown in demand in the domestic market. ICRA says the level of global cotton production in this cotton year is estimated to exceed consumption, after two consecutive years of shortfall. The resultant cotton surplus, therefore, will create a downward bias in prices which, besides easing pressure on contribution margins of the spinners, is likely to bring down their working capital requirements. INDIA TODAY
- An INR360cr footwear manufacturing unit set to employ 10,000 people has been inaugurated in Bargur, Chennai. Lotus Footwear and its sister company Fairway Enterprises were unveiled yesterday (11 October) at the SIPCOT estate. The unit covers 147 acres. EXPRESS NEWS SERVICES
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The High Commissioner of Canada in Pakistan, Perry John Calderwood, has stressed the need for boosting bilateral trade and investment between the two countries. Addressing a meeting of exporters held at the Sialkot Chamber of Commerce and Industry (SCCI), he urged Pakistani exporters to explore the trade markets of Canada. Bilateral trade between the countries amounted to $856m in 2015-16 and $911.6m in 2016/17. Pakistan’s major exports to Canada include rice, textiles, cotton yarn, carpets, synthetic fabrics, medical/surgical instruments, sports goods, jewellery, iron, steel and chemicals. DAWN
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Ethiopia is on the right track in terms of commercialising Bt cotton production which helps promote the textile and garment industry, according to The Ethiopian Institute of Agricultural Research (EIAR). Apart from familiarizing the technology, the necessary infrastructural development has been put in place to encourage investors, it said, but added that employing modern technologies and using improved cotton varieties are a must to commercialise Bt cotton and speed up the industrialisation process. ALL AFRICA
just-style has not checked these stories so cannot guarantee their accuracy.
