The textile ministry in consultation with the finance and revenue departments to look at the possibility of a duty cut on man-made fibre as high cost of key raw material for manufacturing blended garments is making Indian goods uncompetitive in the global market. Each year, nearly Rs . 900 crore worth of man-made fibre material is imported by garment makers. The textile industry has been intensely lobbying for duty cuts on both domestic and import fronts, had been given hope during the previo

Egypt has halted all cotton imports in a bid to assist the production and marketing of the local crop, the agriculture ministry said on Tuesday, signalling a change of course just six months after announcing an end to support for its farmers. "The decision aims to protect local production of cotton and resolve its marketing problems," it said in a statement, adding that cargoes shipped before July 4 would still be accepted. "The ministry is keen on Egyptian cotton regaining its glory on all

Garment exports grew 4.08 percent to $25.5 billion in fiscal 2014-15, according to data from the Export Promotion Bureau. Knitwear exports increased 3.13 percent year-on-year to $12.42 billion while woven shipments grew 5 percent to $13.06 billion in the immediate-past fiscal year. Export earnings from the apparel sector were 5.24 percent below the annual target of $26.9 billion. Over 80 percent of the country's export earnings come from the garment sector, which was able to reach its t

Textile printing industry in the UAE is set to gather momentum with the country now standing as the world's fourth largest trading centre of textiles, generating approximately $17.5 billion annually, the West Asian media has reported . The UAE can capitalise on the fast growing textile printing industry and the country has a huge potential to become one of the market leaders, chairman of International Expo Consults, Abdul Rahman Falaknaz has said. According to the Global Industry Analysts

Vietnam textile and garment industry attracts majority of the biggest foreign direct investment (FDI) projects as investor want to build the factory in Vietnam to capitalize on the opportunities from the Trans-Pacific Partnership (TPP). Early this week, the government of Binh Duong Province awarded an investment certificate to Polytex Far Eastern Co. Ltd. under Taiwan’s Far Eastern Group to develop a US$274-million clothing project. The biggest FDI project in the southern province in the year

Turkmenistan plans to streamline its textile industry to increase the manufacturing of competitive products and attract investment in this industry as it holds an important place in its economic system, the country’s President Gurbanguly Berdimuhammadov said. Turkmenistan traditionally grows cotton, which serves as a basis for developing the textile industry. The annual turnover of the textile industry is about $400 million as of 2014. During the last meeting of the Cabinet of Ministers, t

Brazilian cotton prices were recovering in early June driven by increasing need to purchase in the short-term and to the expectation of delay in the availability of cotton in the new season from the 2014/15 crop – due to rains. Purchasers with needs for prompt delivery, such as processors in the northeastern and southern regions, were accepting asking prices of sellers, according to a CEPEA Brazil report. The CEPEA/ESALQ Index, with payment in 8 days, for cotton type 41-4 (including freight t

Indian textile exports, especially apparels and denim, may be hit with the signing of largest free trade agreements, the Trans Pacific Partnership (TPP) agreement which the United States is in advanced stage of signing with 11 countires, including Japan, Australia, Vietnam, Singapore and Cananda to enhance trade and investment among the TPP-member countries, promote innovation, economic growth and development, and support the creation and retention of jobs, apart from providing comprehensive mar

China's exports of textiles and apparel dropped by 6.3% from a year earlier to US$ 23.4 billion in this May, the General Administration of Customs (GAC) said recently. In May, the export of textiles dropped by 3.9% to US$ 10.05 billion and that of apparel dropped by 8% to US$ 13.35 billion. If calculated in CNY, the export of textiles dropped by 4.2% to CNY 61.64 billion and the export of apparel reduced by 8.3% to CNY 81.9 billion. In the first five months of this year, China's expo

In an effort to reduce dependency on import of fashion clothing, the country’s apparel industry has started creating brands for local market. After meeting local demand, the manufacturers also plan to export the products of locally created brands. Targeting the young customers mostly, the brands will have a native taste integrating folk arts and Bangali tradition. The design makes a fusion of the East and the West to provide the consumers with a one stop solution to global fashion trend