Global Apparel Trade Update | Dec 2024

An overview of the latest apparel consumption and trade data for major supplier and buyer nations.

In November 2024, the US inflation rate rose to 2.8%, while the unemployment rate dropped to 4.2%. Additionally, the Consumer Confidence Index rose by 3%, reflecting growing consumer optimism. This trend is expected to continue with the Federal Reserve's recent interest rate cuts. 

The 20th Intelligent Sewing & Embroidery Industrial Technology Exhibition (ITCPE).

The 20th Guangzhou ITCPE Date: to be held on May 19-21, 2025 
Venue: @Poly World Trade Center Expo, Pazhou, Guangzhou, China 
Focus Areas: thematic exhibitions
Intelligent Sewing Embroidery 
Industrial Technology Theme 
Sewing and embroidery sectors with a global outlook.

Colombiatex 2025

Mark your calendars! 
Date: January 28-30, 2025
Venue: Plaza Mayor, 41st Street No. 55-80, Medellín, Colombia
COLOMBIATEX DE LAS AMÉRICAS is one of the most popular events in Latin America. Designed to showcase making a case for a differentiated Latin American proposition underpinning the vitality of this region in the global supply chains via a strong display of exhibitors and strong visitor response, it has been generating show after show.

CITI Highlights Resilience of India’s Textile & Apparel Sector Amid Record Trade Deficit Challenges.

India’s merchandise trade deficit widened to a record high of US$ 37.84 billion in November 2024.

India’s textile and apparel (T&A) sector demonstrated remarkable resilience. Rakesh Mehra, Chairman of the Confederation of Indian Textile Industry (CITI), commended the sector’s consistent performance despite challenging global dynamics. 

The Southern Gujarat Chamber of Commerce and Industry (SGCCI) has been proudly serving the industry of famed South Gujarat since 1940, aimed at promoting and giving a boost to trade, commerce, and industry to take them places.

Serving the trade with a myriad of activities/initiatives such as trade expos, business and trade networking shows, skilling & training programs, and policy advocacy/influencing policy and lawmakers on business-related issues, SGCCI is for the longest time harnessing and harmonizing the interest of the business community to give impetus to growth, securing their future.

Cotton Crisis Looms Over India.

INDIA’S COTTON PRODUCTION TO REMAIN LOWEST IN FIVE YEARS DURING MY 2024/25. Taking a closer look at the emerging situation in India's cotton production scenario, the present estimates are that India's cotton production is anticipated to drop to 25 million 480-pound bales in the 2024/25 FY/marketing year, a five-year low. 

Global price sensitivity/competitiveness has induced a considerable degree of spike in cotton imports.

The conference held earlier on 15th November 2024 at Hotel The Lalit, Mumbai, left a mark, underpinning the transformative impact of automation and robotics on the textile sector.

The strong representation of 350 global delegates gathered was astounding. The event outlined the growing international interest in these emerging technologies as drivers of innovation, efficiency, and proficiency.

Confederation of Indian Textile Industry (CITI) Raises Concerns Over Proposed GST
Rate Hike on Ready-Made Garments
The Confederation of Indian Textile Industry (CITI) has raised concerns over the proposed GST rate revisions on ready-made garments, warning of potential far-reaching impacts on the textile industry, employment, and the overall economy.
Under the proposed framework, garments priced up to ₹1,500 will continue to attract a 5% GST rate.
However, garments priced between ₹1,500 and ₹10,000 will steeply increase to 18%, and those priced above ₹10,000 will fall under the highest tax slab of 28%.

The 9^th Smart Manufacturing Summit

Globally, manufacturing is traversing new domains led by disruptive changes in technology and breakthrough innovations. Smart manufacturing is reshaping India's industrial landscape, marking a significant shift from automation to more intelligent and adaptable systems.

The advanced technologies such as Automation, Artificial Intelligence (AI), the Internet of Things (IoT), and Big Data Analytics are integrated into manufacturing processes, leading to smarter, more efficient production systems, allowing manufacturers to optimize operations, reduce downtime, and minimize waste.

India's textile industry, an integral and fundamental pillar of the nation's economy, dominated by Micro, Small, and Medium Enterprises (MSMEs), is posed with the challenge of striking a delicate balance between modernization and modernization, depending on what stage of growth and evolution any organisation is at.

A recent CRISIL Ratings report underpinned the vitality of enhanced funding and technical expertise to amplify efficiency and build global competitiveness.

The Path to Profitability in Textiles

This resource has proven invaluable for industry leaders seeking a competitive edge and driving measurable improvements across their operations.

Amid the current global slowdown in the textile & apparel industry and changing landscape, optimizing manufacturing processes has become key for staying competitive and achieving profitability.

Workshop by ITC & ADB

Piloting the SME Sustainability Standards Navigation Toolkit (Pilot stage)

An innovative online tool created by the International Trade Centre (ITC) in collaboration with the Asian Development Bank’s (ADB) Trade & Supply Chain Finance Program (TSCFP).