07/08/2024
Today's Textile News
Bangladesh situation to hurt India's cotton exports; trade impact not so high
1) The political crisis in Bangladesh may not have a significant bearing on India's trade, but will certainly weigh heavy on India's cotton sector, a Moneycontrol analysis of data shows.
2) India exports $2.4 billion worth of its cotton to Bangladesh, which has emerged as a textile centre for the world.
Crisis in Dhaka: Bangladesh textile biz may move to hubs like Tiruppur
1) With the crisis in Bangladesh intensifying, the textile sector, which contributes a lion's share of its export, is likely to be a victim of the turmoil, with international buyers shifting their focus to alternative markets like India.
2) India's gain will be an additional business of $300-400 million per month if 10-11% of the neighbouring country's export is diverted to Indian hubs like Tiruppur, say industry experts.
Crisis in Bangladesh: Textile stocks zoom; Gokaldas, Kitex rally up to 11%
1) Crisis in Bangladesh: Shares of textiles, garments & apparel companies were in focus and rallied up to 11% on the National Stock Exchange (NSE) in Tuesday's intra-day trade on expectations of earnings improvement.
2) Gokaldas Exports rallied 11% to Rs 1,022, RSMW surged 10% to Rs 254.10, followed by Kitex Garments (8% at Rs 227), Faze Three (8% at Rs 558.50), GHCL Textiles (8% at Rs 119.50), Indo Count Industries (5% at Rs 395.50), KPR Mill (4% at Rs 861.05) and Arvind (3% at Rs 382.85). In comparison, the Nifty 50 was up 1% at 24,295.75 at 09:41 am.
3) With the crisis in Bangladesh intensifying, the textile sector, which contributes a lion's share of its export, is likely to be a victim of the turmoil, with international buyers shifting their focus to alternative markets like India.
Other Headlines:
Bangladesh apparel exporters race against time amid sea, sir freight congestions, fare hike
India's exports to face issues in Bangladesh as crisis deepens: Exporters
India-Bangladesh Garment Trade: Exploring the impact of tax exemptions
Profitability of polyester yarn manufacturers to improve by 100-150 bps in FY25, says CRISIL
Rajasthan govt plans to bring an investor-friendly industrial policy soon
IndiGo, Air India cancel their flights to Dhaka amid Bangladesh unrest
Encourage textile investments in border districts of Andhra Pradesh, Collectors told
African delegation explores collaboration opportunities with textile industries in Coimbatore region
Cotton pressured lower on Monday morning
Rupee Vs Dollar: INR falls to record closing low against USD
Oil prices decline as strong US recession fears loom global markets
Pakistan: Spot rate gains Rs 200 per maund
Pakistan: Textile value chain evades Rs 236 bn tax annually
Pakistan: Karachi's power looms struggling amid rising production.
