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TTBC: A Knowledge Hub for Green Technologies

08 November 2023, Mumbai

The Textile Technology Business Center (TTBC), established by the Partnership for Cleaner Textile (PaCT) program, serves as a knowledge hub for green technologies in the textile and RMG industry.
Facilitating Knowledge Sharing and Business Linkages
TTBC facilitates knowledge sharing and business linkages between textile factories and technology suppliers, addressing the need for credible information and technology transfer.
Building Industry Capacity Through Sustainable Practices
Through technical training programs, knowledge-sharing sessions, and support for cleaner production, energy efficiency, and rooftop solar PV adoption, TTBC plays a pivotal role in building industry capacity.
A Proven Track Record of Success
With over 103 B2B linkages, 58 workshops, and knowledge materials for over 2300 participants, TTBC has made significant contributions to the textile industry.
Comprehensive Services and Expertise
TTBC offers a range of services, including B2B linkages, tailored services, promotion of resource-efficient technologies, capacity building programs, and a networking platform. Its expertise lies in textile specialists, resource efficiency specialists, communication experts, and business development officers.
Ensuring Continued Operation and Growth
Recently taken over by BGMEA to ensure its continued operation, TTBC remains committed to empowering the textile industry with sustainable solutions, fostering innovation, and promoting sector growth.

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TTBC

AEPC: Targets target, code named '40 by 30'

06 November 2023, Mumbai

The Indian Apparel Export Promotion Council (AEPC) has set a vision of reaching USD 40 billion in apparel exports by the year 2030. The council plans to achieve this goal by taking various steps, such as finding new markets and forming strategic alliances.
Missionary Zeal
AEPC Chairman Naren Goenka said that the council will focus on innovation, market expansion, product diversification, and ethical and sustainable business practices. “We have a dream of making USD 40 billion in apparel exports by 2030.
This dream, called ‘40 by 30,’ shows our strong determination to challenge ourselves and reach new heights,” he said.

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AEPC

Global Apparel Market Slowdown Continuing in August & Sep., 2023

06 November 2023, Mumbai

Key Findings of WAZIR October report
US
Online sales of clothing and accessories registered only a nominal 1% growth in Q2 2023 over Q2 2022.
Apparel imports in August 2023 were $7.8 billion, 25% lower than August 2022.
UK
Year-to-date (YTD) apparel imports were 14% lower than 2022.
Apparel imports in August 2023 were $1.8 billion, 10% lower than last year.
China's share of the UK apparel market decreased 6% since 2021, while Bangladesh's share increased 2%.
EU
Apparel imports in August 2023 were $8.2 billion, 23% lower than August 2022.
YTD apparel imports were 10% lower than 2022.
Implications
The slowdown in the global apparel market is likely due to a number of factors, including the ongoing war in Ukraine, rising inflation, and supply chain disruptions. This slowdown is having a negative impact on both apparel brands and retailers, as well as the countries that rely on apparel exports.
Outlook
It is too early to say when the global apparel market will fully recover. However, it is clear that the market is facing a number of challenges.

Apparel brands and retailers will need to adapt to the changing market landscape in order to remain successful. This may include focusing on sustainable and ethical practices, offering more competitive prices, and improving customer service.

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Brunei High Commissioner Meets BGMEA President

27 October 2023, Mumbai

The High Commissioner of Brunei Darussalam to Bangladesh, H.E. Haji Haris Bin Haji Othman, met with BGMEA President Faruque Hassan on October 10 to discuss trade and investment opportunities between the two countries.
Potential for RMG Exports
Hassan highlighted the potential for exporting readymade garments (RMG) to Brunei Darussalam and stressed the industry's commitment to producing high-quality clothing and reaching out to new and existing markets.
He asked the High Commissioner for assistance in finding ways to increase garment exports to Brunei Darussalam.
Strengthening Bilateral Ties
Both sides agreed that there is significant scope for cooperation in trade and investment, which would benefit both countries.
They also discussed ways to strengthen bilateral ties between Bangladesh and Brunei Darussalam.
CREDITS: BGMEA, website

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Brunei High Commissioner Meets BGMEA President

EU Apparel Imports Decline in January-August 2023

26 October 2023, Mumbai

Overall Decline
The European Union's (EU) apparel imports from the world declined by 9.61% in January–August 2023, according to data released by EUROSTAT.
This represents a decrease from US$67.66 billion in January-August 2022 to US$ 61.15 billion in January-August 2023. The quantity of apparel imported by the EU also declined by 14.64% during the same period, from 3 billion kilograms to 2.56 billion kilograms.
Top Suppliers
Bangladesh, the EU's second-largest apparel supplier, saw its exports to the EU decline by 13.71% in value terms during January–August 2023. China, the EU's largest apparel supplier, saw its exports to the EU decline by 14.13% in value terms during the same period.
Turkey, the EU's third-largest apparel supplier, saw its exports to the EU decline by 10.89% in value terms during January–August 2023.
Unit Price
Despite the overall decline in apparel imports from around the world, the EU's unit price of apparel imports increased by 5.89% in January-August 2023.
This increase was driven by higher prices from China, Turkey, Vietnam, Sri Lanka, and Indonesia. Bangladesh was the only top supplier to experience a lower unit price during this period.

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ExportsSector

Tirupur Knitwear Industry Faces Challenges from Bangladesh & MMF

Tirupur, India's top knitwear hub, is facing challenges from Bangladesh and man-made fibres. The Free Trade Agreement between India and Bangladesh has allowed Bangladesh to import fabrics into India without customs duty, making them cheaper and more competitive.
Role of FTAs
Bangladesh is also exporting high-tech finished apparels to the EU and US markets at a lower cost due to its duty-free status and access to cost-effective raw materials from China.
MMF trend is on the rise
The increasing popularity of man-made fibres, which are cheaper and more durable than cotton, is also affecting Tirupur's knitwear business.
Challenges galore
Tirupur manufacturers are also facing a global demand slowdown and reduced export orders.
Tirupur manufacturers will now have to wait until the end of this year for 2024 spring-summer orders, which means that profits will not come in for a long time.

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TEA's New Team Aims to Boost Tirupur's Apparel Exports

26 October 2023, Mumbai

The new TEA team, led by KM Subramanian, is committed to boosting Tirupur's apparel exports to Rs. 30,000 crore. This ambitious goal follows in the footsteps of Padamshree Dr. Sakthivel, who pioneered India's apparel export journey.
Visionary
Dr. Sakthivel has enabled Tirupur to align its manufacturing and purchasing capabilities, leading to a significant export order of $50 million in a year.
TEA's Brand Tirupur initiative makes it the only city that manufactures and exports apparel, striving for carbon footprint certification by 2030.
Evolving story
For the first time, domestic apparel brands have been acknowledged in the context of manufacturing and sourcing from Tirupur.
Notably, Tirupur has embraced sustainability, ESG standards, and compliance naturally over the last four decades.

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GarmentExportsUnit

Bangladesh: IMF x BGMEA Discuss RMG Sector Challenges & Opportunities Post-LDC Graduation

21 October 2023, Mumbai

The International Monetary Fund (IMF) and the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) met on October 15 to discuss the challenges and opportunities for the RMG sector in the context of Bangladesh's graduation from Least Developed Country (LDC) status.

Outlines
The meeting focused on the current state of the RMG industry, the global trade landscape, and their implications for Bangladesh's export performance.
BGMEA President Faruque Hassan also shared the Sustainability Strategic Vision 2030 with the IMF team, which outlines their goals and plans for the future of the RMG sector in Bangladesh.
The IMF team praised BGMEA's initiatives and efforts and expressed their willingness to keep in touch with them.

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