Fifteen per cent of India's exports now come from textiles industry, signifying the sector's growth, Textiles Minister Santosh Kumar Gangwar said at a press conference in New Delhi on Friday, showcasing the Ministry's achievements of the past two years. According to the Ministry, apparel and handicrafts recorded 22 per cent growth, while textile exports grew by eight per cent during last two years compared with the previous two years. “More than Rs 6,500 crore has been spent by the Ministr

EXPORT growth continued to slow in May while imports rose for the first time in 19 months, pointing to a pick-up in domestic demand but a not-yet-firm overall recovery. Exports in yuan-denominated terms rose 1.2 percent year on year to 1.17 trillion yuan (US$181 billion), slower than April’s 4.1 percent rise, according to figures released by the General Administration of Customs. Imports surprised the market by growing 5.1 percent year on year to 847.1 billion yuan, reversing April’s 5.7 p

IKEA, the Swedish furniture company, 10 percent of whose global cotton suppliers are from India, plans to increase sourcing of cotton from India for its textile requirements as it gears up to start retail operations there by next year. The company, which is working with around four lakh farmers in India through local partners under its better cotton initiative (BCI) programme, is sourcing almost one-third of its global requirements from India. In 2015, the company bought 35 percent of its

India’s overall textile and garment exports remained almost flat at $40 billion in the last fiscal, according to a quick estimate said a senior textile ministry official. Still, the exports fell short of the official target of $45-47.5 billion for 2015-16. Textile minister Santosh Kumar Gangwar on Friday said that the government has fixed the textile and clothing export target at $48.5 billion for the current fiscal, aiming for an over 21% rise in outbound shipments from the actual level of 2

Textile Raw Material Price 2016-06-11 Item Price Unit Fluctuation Date Crude Oil WTI 50.36 USD/Barrel 1.35% 2016-06-11 Crude Oil Brent 51.44 USD/Barrel 1.76% 2016-06-11 PX 815 USD/Ton 0.62% 2016-06-11 PTA Buy 4590 RMB/Ton 0.33% 2016-06-11 PTA Sell 610 USD/Ton 0% 2016-06-11 MEG Buy 4925 RMB/Ton 0.51% 2016-06-11 MEG Sell 610 USD/Ton 0% 2016-06-11 CPL Buy 9

America's Agriculture Secretary Tom Vilsack has announced that the US Department of Agriculture (USDA) Farm Service Agency (FSA) will provide an estimated $300 million in cost-share assistance payments to cotton producers through the new Cotton Ginning Cost-Share programme, in order to expand and maintain the domestic marketing of cotton. "Today's announcement shows USDA continues to stand with America's cotton producers and our rural communities," said Vilsack. "The Cotton Ginning Cost Share

THE yuan edged up against a basket of currencies in May despite hopes for a stronger US dollar, according to an index released by financial services provider China Foreign Exchange Trade System. The yuan exchange rate composite index, which measures the yuan’s strength relative to a basket of 13 currencies including the US dollar, euro and yen, stood at 97.15 at the end of May. That marked a gain from 97.12 a month earlier, CFETS said in an article published on its website yesterday. Th

Apparel export will predictably cross this fiscal year’s target as the earning is already more than $25bn with one month left before another year begins, according to latest official figures. The target was set at $27.37bn for the FY2015-16 after earning $25.49bn in last fiscal. After Rana Plaza tragedy in 2013, observers prophesied that the country’s biggest export industry might face severe image crisis and suffer loss of global market share. But it has continued to shine ever since a

Canada will be providing an unprecedented platform for apparel and textile manufacturers across the globe by hosting the Apparel Textile Sourcing Show (ATSC) – a first-of-its-kind event for the nation. Jason Prescott, CEO of JP Communications, parent-company to TopTenWholesale.com and Manufacturer.com and organizer of the event said that the introduction of ATSC is a direct response to market demand and fills a significant gap in the Canadian market. He added that ATSC provides an unparall

The garment industry in Fiji mainly works on cut, make and trim (CMT) basis is a major employer and an important source of export revenue. More than 40 garment companies operate in Fiji, 15 of which are based in the Western Division. The garment sector in the Western Division is returning to normality after having hit by severe tropical cyclone Winston, said Textiles, Clothing and Footwear Council of Fiji (TCF) president Kaushik Kumar. Many staff had damage to property and was unable to re