In a significant move aimed at bolstering India's textile export sector, the government has announced exemptions for the import of polyester staple fibre (PSF), filaments, and spun yarn under the Advance Authorisation Scheme. This decision, heralded by industry organizations such as The Southern India Mills’ Association (SIMA), marks a pivotal moment for textile exporters grappling with sourcing raw materials amid stringent quality control orders (QCOs).
The Confederation of Indian Textile Industry (CITI) has commended the Ministry of Textiles for its recent implementation of crucial policy measures aimed at revitalizing the Indian textile sector. These measures, including the imposition of a Minimum Import Price (MIP) on specified lines of MMF Knitted Fabrics and exemptions for certain inputs from Quality Control Orders (QCOs), are poised to provide immediate relief to the industry while setting the stage for sustained growth.
In a significant development for regional cooperation and economic growth, China’s Fuxin Xinyida Agriculture & Industry Trade Company has expressed keen interest in establishing leather and wool processing units, along with greenhouses, in the Khatlon region of Tajikistan. This intent was communicated by the company’s chief, Gao Jong Tao, during a recent meeting with the region's administrative head, Davlatali Said.
The fashion landscape in the Kingdom of Saudi Arabia is experiencing a remarkable surge, poised to soar at a Compound Annual Growth Rate (CAGR) of 48% from 2021 to 2025, according to a recent report unveiled by the Small and Medium Enterprises General Authority. This surge marks a significant trajectory for the industry, underlining its pivotal role in the Kingdom's economic narrative.
Page 7 of 24
