Economy News

Groz-Beckert is adapting its organizational structure at its headquarters to changing market conditions

Albstadt: The ongoing weakness in demand and structural changes in the international textile industry continue to put economic pressure on Groz-Beckert’s core business, Textile Tools. Since a market recovery...

Syria Seeks Funding to Advance €5 Million Textile Recovery Project

Syrian officials and international partners met at the Italian Embassy in Damascus to review progress on the €5...

Change of Leadership at Rieter

Thomas Oetterli has decided to step down from his function as CEO, effective October 31, 2026, and hand...

Fine Spinners Uganda Invests $5 Million to Target Kenya’s Apparel Export Market

Fine Spinners Uganda Limited is investing an additional US$5 million in textile machinery as it seeks to become...

PM Modi’s Uzbekistan Visit: What It Means for the India-Uzbekistan Textile Trade

Indian Prime Minister Narendra Modi's two-day state visit to Uzbekistan on August 29–30, 2026, at the invitation of...

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Foreign Investors Offered Special Incentives in Punjab’s Special Economic Zones

Foreign investors, particularly from African nations, are being offered special incentives to invest in Punjab’s Special Economic Zones (SEZs), officials announced during a high-profile...

TEXSUM’5 in Bursa Highlights Sustainability, Digital Transformation, and Future Design in Textiles

The fifth edition of the TEXSUM Textile Summit, held at Bursa Uludağ University (BUÜ), convened leading textile professionals, academics, and students to explore the...

Chipless RFID: Smart, Scalable & Eco-Friendly ID Solution

By: Aishwarya Doiphode - Persistence Market Research The rapid advancement of the Internet of Things (IoT) and digital transformation has heightened the demand for innovative...

Iran’s Textile Industry Positioned for $1 Billion Investment Potential

Iran’s textile industry stands at a pivotal moment, with current investments reaching $400 million and the potential to attract up to $1 billion, provided...

Bangladesh Accelerates Technology Transfer to Future-Proof Its Textile Industry

In a strategic shift aimed at sustaining its position as the world’s second-largest garment exporter, Bangladesh is intensifying efforts to modernize its textile sector...

Euro Surge Provides New Momentum for Turkish Textile Industry

The recent appreciation of the euro has created fresh opportunities for Türkiye’s textile sector, helping ease the pressure from domestic economic challenges. With the...

Indonesia’s Textile Industry Eyes U.S. Cotton to Offset Tariff Impact

Indonesia’s textile and apparel sector is bracing for severe fallout following the U.S. government’s imposition of a 32% “reciprocal” tariff on Indonesian goods—a move...

Pakistan’s Textile Industry Sees Resilience and Opportunity Amid U.S. Tariff Challenges

Despite the recent imposition of tariffs by the U.S. government, Pakistan’s textile industry—the backbone of the country’s export economy—is showing strong signs of resilience...

Pakistan’s Apparel Exports Rise 19% Amid Strategic Growth Push

Pakistan’s textile industry has recorded remarkable progress over the past year, with apparel exports rising by 19%, according to Federal Minister for Commerce Jam...

India Achieves 7% Growth in Textile Exports

India's textile exports, including handicrafts, recorded a 7% increase from April to December 2024, reinforcing the country’s position as a key player in the...
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