India

India’s Textile Minister says his ministry plans to approach the Cabinet in the coming days to seek approval for a new national textile policy that could create as many as 35 million new jobs. The policy is expected to address a shortage in skilled labor and provide new incentives for investment. It will also set a textile export goal of US$300 billion by 2025. (Fibre2Fashion)
 
India’s textile and garment industries could take a hit thanks to the recent downturn in the Chinese economy, according to reports. China accounts for 40% of Indian cotton exports and a devaluation of the yuan could result in trouble for Indian cotton producers and spinners. In regards to apparel exports, growth of sales to China has only reached half of anticipated levels. This comes as exports to other major markets like the United States and Europe also remain sluggish. (Fibre2Fashion)