There are certain things that one needs to be aware of while importing or exporting goods like- the country's import laws and regulations, 'Informed compliance' requirements and goods that require permits and licenses.
Import Export Code or commonly known as IEC is a 10 digit identification number that is issued by the Director-General of Foreign Trade (DGFT), Department of Commerce, Government of India. Once obtained, the code has lifetime validity.
With the rapid growth of the overall fashion industry and e-commerce platforms, the textile market’s growth is going much faster than expected. Textile printing is small yet a significant segment of the billion-dollar textile industry.
In the next few years, people will be able to enter the metaverse, completely virtually (i.e. with virtual reality) or interact with parts of it in their physical space with the help of augmented and mixed reality.
Across the world, low and middle-income countries including Sri Lanka are struggling with a three-pronged crisis- the ongoing Covid-19 pandemic, the rising cost of their debt, and the increase in food and fuel prices caused by Russia’s invasion of Ukraine.
Undoubtedly, technology is changing the way people shop - be it through social media apps, retail shops or augmented reality (AR). Brands are adapting to these changes for customers to have a better shopping experience.
Union Minister of Commerce and Industry, Piyush Goyal was delivering the keynote address at the Golden Jubilee Celebrations of the 'Confederation of Indian Textile Industry- Cotton Development and Research Association' in New Delhi.
Currently, Europe dominates the global digital textile printing market. Italy garners the maximum share of the market owing to the presence of a large number of fashion industries in Milan, Rome, Palermo, and Venice.
India’s heritage of handmade carpet has been recognized worldwide for its subtle elegance, eco-friendliness and exquisite vibrant colour craftsmanship. The industry remarkably caters to women's employment, while contributing substantially to societal objectives like poverty alleviation.
In 2020, the US textile and apparel imports had decreased sharply, mainly on account of the Covid-19 pandemic induced disruption, to $89.6 billion compared to imports of $111.1 billion in 2019.
The focus for sustainable fashion is not just limited to the environment, it ensures government-sanctioned wages for all the employees, proper working conditions- health services, no extra working hours, no child labour, and no worker exploitation.
Already established as a leading player in the global textile trade, India is now ready to emerge as a key player in the new and fast-growing segment of Technical Textiles. These include fibers used for their functional properties for specific utility purposes.
From abundance of raw materials, skilled craftsmen, and a rich heritage to the vast presence of production Infrastructure, the textile industry is one of India’s oldest and brightest. Let us take a detailed look at a how India became a global textile manufacturing hub.
Handicrafts Export proves to be an important source of revenue since India is one of the largest exporters of handicrafts and handloom items. This sector is especially essential since it is helping develop the economy of Rural India and ensuring work opportunities for women and men in these weaker sections of the country.