Pandemic-hit Indian exporters, especially in labour-intensive sectors, are expecting their fortune to plummet further, as key competitor Vietnam has clinched a free trade agreement (FTA) with the EU.
Chennai: Garment exports from Tirupur dropped to Rs 25,000 crore for the year ended March 2020, from Rs 26,000 crore in the previous year as Covid pandemic wiped away most of March exports. The target was to export garments worth Rs 28,000 crore. Domestic sales were flat at Rs 25000 crore for the fiscal.
British product quality testing firm Intertek Group Plc said on Sunday it had temporarily shut its Hong Kong Garment Centre in Kowloon from Feb. 11 for two weeks after an employee contracted the new coronavirus.
Touchpoint textile, a new special show for digital textile printing applications, will make its debut at drupa 2020 in Hall 4.
The Tiruppur Export Association (TEA) on Friday welcomed the budget allocation of Rs 1,224 crore to the development of handlooms and textiles businesses in Tamil Nadu.
Cambodia, as well as Laos, Myanmar and Vietnam, are being encouraged to improve their production chains to provide added value to their textile products exported to Japan.