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Textile-apparel industry: Major headlines of 2017
10 Jan 18 1 min read
The year 2017 saw several developments in the global textile, apparel, fashion and retail industry. Governments of India, Nigeria, Pakistan and Mauritius announced incentives and benefits to boost the industry, Bangladesh reduced corporate tax for RMG firms, while Sri Lanka got back EU’s GSP Plus status.
EU and Japan were able to conclude Economic Partnership Agreement, whereas President Trump initiated NAFTA renegotiation has put Mexico-US jeans trade at risk. Meanwhile, in a major relief to LDCs like Bangladesh, Cambodia, Haiti and Ethiopia, the UK Government has pledged to continue duty-free access for these countries post-Brexit.
On the corporate front, the year saw Alibaba forging global alliance to fight counterfeiting, Michael Kors acquiring Jimmy Choo, and India’s Reliance Industries becoming the world’s largest PX producer.
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Click here to read key news that made headlines in the year that was.
Fibre2Fashion News Desk – India
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