Page 5 - TEXtalks. May-June 2023

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ITMA 2023: Transforming the World of

Textiles; 19TH ITMF Survey; Global

situation of the textile industry

ITMA is the world's most influential the business climate in 6
Editor-in-Chief textile and garment technology months-time have been improving
Yousaf Fareed exhibition. Owned by CEMATEX, since November 2022. It is unclear
ITMA is the place where the if this growing optimism about the
Editor industry converges every four mid-term future is due to a belief
Hassan Saeed years to showcase the latest textile that the situation cannot get much
and garment processing worse or anticipation for a
Sub-Editor technologies, machinery, and well-founded economic
Arooj Sajid materials, promote collaborations normalization. High inflation and
Dr Sharjeel Abid and forge partnerships. rising interest rates are the main
Participated by a global audience, current drivers of the global
Advisory Board: ITMA is the “it” place to meet key economy, but the core problem of
Dr. Tanveer Hussain decision-makers from the world's the textile supply chain in 2023 is
Dr. Muhammad Tausif top textile and garment producers high inventories at the brand and
and leading brand owners, gather retail levels, according to the 18th
Marketing market intelligence, and forge Global Textile Industry Survey
Anusha Abid collaborative partnerships. (GTIS) by the International Textile
Khizra Azhar Manufacturers Federation (ITMF).
Qudsia Rahim Set to begin with full force, great
expectations are attached to this The World Trade Organization
Layouts power-packed exhibition. It will (WTO) has highlighted that the
Faizan Khan offer exhibitors excellent global textile industry was partially
interactions and networking supported during the challenging
Circulation opportunities with highly engaged year of 2020 by the increased
Muhammad Shafique visitors. It is also a highly visible demand for medical face
platform to showcase products for coverings, compensating for the
Address textile production. They have also decline in apparel demand. The
C-302, City Towers launched ITMAconnect which will WTO revealed that global trade in
Main Boulevard, Gulberg II connect the global textile textiles surged by 14 percent in
Lahore-Pakistan community before ITMA and 2022 compared to the pre-COVID
extends the engagement after the year of 2019, despite a 1 percent
Phone: + 92 42 35 788 700 exhibition. With this platform, both and 2 percent decline in the value
Fax: + 92 42 35 788 700 exhibitors and visitors can plan of textiles trade in 2022 and 2021,
their participation more effectively respectively, as per a recent report.
Email: info@textalks.com and productively during exhibition. The WTO report has projected a
Skype: textalks 1.7 percent growth in world
Results of the 19th ITMF Global merchandise trade volume for
www.textalks.com Survey are here for the textile 2023, with a further pickup to 3.2
industry and it depicts that the percent in 2024. However, the
business situation worldwide is still forecast is not without risks, as
gloomy while expectations are geopolitical tensions, food
booming. Companies around the insecurity, potential financial
world and across all segments instability resulting from tightening
face a “perfect storm” -a scenario monetary policies, and increasing
with high production costs and levels of debt pose potential
relatively low demand. At the same downside risks to the projected
time, companies’ expectations for growth.

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