Only days after The Indian People’s Party (BJP) confirmed its victory in the 2019 general election in India, and its leader, Narendra Modi, began his second term as the country’s prime minister, reports have emerged from the north of the country questioning the ability of the tanning...
The World Bank yesterday maintained its growth forecast for China in 2019 at 6.2%, although it lowered the country’s 2020 growth figure to 6.1% and said domestic demand will be key to facing economic uncertainty. In a report, the institution said Chinese economic growth remained “resilient” with...
January-March growth falls to 5.8%, down from October-December's 6.6%; slowdown puts pressure for fiscal stimulus, rate cut; 2018/19 growth estimate cut to 6.8% from 7%; weaker consumer demand, global slowdown undermine growth. India's economy grew at a much-lower-than-expected 5.8% in the January-March period, its slowest pace in...
Investors fled stocks for safe-haven assets yesterday after being spooked by the latest salvos fired in the global trade war. With US President Donald Trump announcing tariffs on all Mexican imports and China warning it would create a list of “unreliable” foreign companies, investors piled into...
The National Union Alliance Chamber of Cambodia (NACC) has requested the European Union (EU) to change its plan to suspend the ‘Everything But Arms’ (EBA) trade agreement with the country as that will affect the livelihoods of three million workers, with 43 per cent of garment workers—nearly...
Washington is reportedly not rolling back its decision to terminate India's designation as a beneficiary developing nation under the generalised system of preferences (GSP) scheme, terming the suspension a ‘done deal’. President Donald Trump on March 4 announced US intention for the same. The 60-day notice period...
Turkey is the world's fourth-largest denim exporter with a 2 per cent share in the denim fabric exports, worth $338 million, and a 7 per cent share in denim clothing exports worth $2.1 billion, according to the Uludag Textile Exporters' Association (UTIB), which recently participated in the...
Several Pakistani value-added textile firms recently rejected the government decision to discontinue zero-rated status of five export-oriented sectors, cautioning that the move will lead to flight of capital and high unemployment and affect the manufacturers. It will also lead to corruption through flying invoices, over-invoicing and refund...
India, which was the second largest exporter of textile and apparel during 2014-17 after China, has fallen to the 5th rank in 2018 as Germany, Bangladesh and Vietnam have stepped in, according to chairman of Confederation of Indian Textile Industry (CITI) Sanjay K Jain. India's exports in...
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