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The Ministry of Industry in Indonesia has unveiled plans to disburse a substantial budget of IDR 52 billion for the restructuring of machinery in the textile industry in the fiscal year 2024. Kris Sasono Ngudi Wibowo, Secretary of the Directorate General of the Chemical, Pharmaceutical, and Textile Industry (IKFT) at the Ministry of Industry, shared insights into the ambitious program, highlighting its potential impact on modernizing the sector.

 

In a recent release of statistics by U.S. Customs and Border Protection (CBP), it has been revealed that since the Uyghur Forced Labor Prevention Act (UFLPA) went into effect in June 2022, U.S. authorities have detained more than 1,090 shipments related to apparel, textiles, and footwear, collectively valued at over $46 million.

The apparel industry in Bangladesh is witnessing a significant shift as imports of manmade fibers (MMF) surge, reflecting a strategic move to diversify garment manufacturing and capture a larger share of the rapidly expanding global market for non-cotton wear. Industry sources indicate a more than 13% increase in non-cotton fiber imports in the past calendar year, as Bangladesh aims to keep pace with the evolving landscape of global clothing demands.

After achieving significant success in international markets, numerous Vietnamese businesses are redirecting their focus towards the domestic market to cater to the increasing number of customers opting for homegrown products. While the textile and garment industry, accounting for over $44 billion in export turnover in 2022, has been instrumental in showcasing Vietnam's manufacturing prowess globally, experts emphasize the need to strike a balance between international and domestic market priorities.

  1. Cambodia's Garment and Footwear Exports to the US Record a Marginal Dip of 0.89% in 2023
  2. India's apparel retail market's revenues expected to reach $105 billion in 2024
  3. Prospects and Challenges: Indonesia Textile Industry Investment in 2024
  4. Bangladesh Aims to Slash Cotton Imports by 15% Through Garment Waste Recycling