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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Companies Seek EU Flexibility to Avoid Waste and Costs

EDANA, the voice of nonwovens, alongside a coalition of leading European business associations, has issued a joint statement urging the European Commission to introduce...

Outlast® Wins WTiN Innovate Textile Award with Aersulate®

Outlast Technologies GmbH has been awarded the WTiN Innovate Textile Award in the cate-gory Material Innovation for Aersulate®, its aerogel-infused insulation technology. The award...

PIGMENTURA by CHT Wins The German Sustainability Award in the Products Category

The German Sustainability Award was presented in Düsseldorf in the Products category. The award has been presented since 2008 for exemplary sustainability achievements in...

India Approves ₹305 Crore (Approx. USD 34 Million) Tex-RAMPS Scheme to Accelerate Textile Innovation

The Government of India has approved the ₹305 crore (approximately USD 34 million) Tex-RAMPS scheme, a major initiative designed to drive research, innovation and...

Kenya Welcomes AGOA Extension Proposal

Kenya has welcomed a proposal by the United States administration to extend the African Growth Opportunity Act (AGOA) for an additional year, a move...

India Targets Textile Export Growth Through Deeper Trade Ties With Russia

India’s textile industry is set to gain fresh momentum as New Delhi and Moscow move toward deeper economic cooperation aimed at expanding bilateral trade...

Eswatini Urged to Diversify Textile Export Markets as AGOA Nears End

Eswatini can no longer rely predominantly on its traditional export markets for textile and garment products if it aims to sustain and expand its...

D-8 Ministers Adopt Cairo Declaration, Advance Preferential Trade Talks

Trade ministers from the Developing-8 (D-8) group adopted the Cairo Trade Declaration at the conclusion of their ministerial meeting held on December 2, 2025,...

The World’s Biggest Carpet Fair: ICFE 2026 Combines Commerce with Design and Art

ICFE (International Carpet & Flooring Expo) -the global meeting point of the carpet industry- is preparing to open its doors for the third time...

Turkmenistan’s “Serdar” Spinning Mill Strengthens Its Position in Global Yarn Market

The «Serdar» cotton spinning mill, operating under the Ministry of Textile Industry of Turkmenistan and located in Dashoguz, continues to consolidate its reputation as...
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