Catching up fast in the last six months, India's textile exports went up to 17 billion dollar in fiscal 2005-06 from 13.50 billion dollar in the previous financial year. '' Though it was a delayed take-off after the phase-out of the WTO Agreement on Textile and Clothing, the textile exports have caught up and investment is taking place,'' Commerce Secretary S N Menon has said. After growing by a meagre five per cent in the first half of 2005-06, the textile exports shot up by an impressive 44 pe

China, the world's biggest importer of cotton, agreed to purchase $300 million of the fiber, reaching a record for U.S. sales of the commodity to a single country in one year. Chinese dignitaries will sign contracts with seven U.S. cotton suppliers today, bringing the country's purchase of U.S. cotton for the year ending July 1 to an estimated 7.5 million bales, or $2.1 billion, said William May, senior vice president for foreign and domestic operations for the American Cotton Shippers Associa

As the European Union's anti-dumping tariffs against China-made leather shoes took effect on Friday, Chinese shoe makers say they are suffering a double hit. Not only have orders decreased but distributors want prices dropped as some are now only ready to pay 21 yuan ($2.50) for a pair of leather shoes. The European Commission (EC), the EU ruling body, will phase in,over the next six months, a duty that will rise from 4 percent to 19.4 percent. "If EU franchisers want to shift the cost of

The president of the Inter American Bank for Development (IADB), Colombia's Luis Alberto Moreno, said Wednesday that he would continue to support the proposal for India and China to join the IADB family. "I will continue working with shareholders to find the best way for them (China and India) to join the IADB family," Moreno told a press conference, marking the close of the Bank's 47th annual meeting in Belo Horizonte, the capital of the southeastern Brazilian state of Minas Gerais. "I beli

Quota restrictions on Chinese textile for uncertain period have been proved blessings for India and Bangladesh as the US retailers have redirected orders to these two countries.According to the data released by US Department of Commerce, Chinese apparel exports witnessed a sharp decline following the US government? embargoes last year.Overall shipments from China increased only 15 percent in volume in January compared with that in the same month last year. In turn, China? share in the American m

Buoyant with the growth, the Indian Textile Industry is aiming to touch us dollar 40 billion exports by 2010. "Domestic fabric production had almost become negative. But due to efforts of the industry and government support the sector has not only revived but surging ahead," Textile Commissioner, Government of India, J N Singh told reporters here today after inaugurating international apparel fabrics and accessories trade fair. "January exports to the us is up by 44 per cent compared to the same

China's textile and clothing exports clearly slowed down in the first two months of the year, with annual growth falling below 20 percent, according to China's customs data. Apparel exports to the European Union and the United States sharply fell in February, partly due to US and EU limits. Shipments under quota categories are down 30 percent. Prices are significantly rising at the same time. China's apparel exports to the United States and the European Union dropped in the first two months o

Nepal's trade with foreign countries has climbed 20.4 percent with revenues reaching Rs 120.42 billion for the first six months of the current fiscal year.The country? import grew by 22.5 percent to Rs 87.91 billion.Nepal? total exports registered a growth of 15.1 percent to Rs 32.50 billion.Increased imports compared to exports created trade deficit of 27.3 percent reaching to Rs 55.41 billion, during the period.Trade deficit in the previous year was Rs 43.54 billion.Nepal? trade with India inc

To boost the sick coir industry, an industrial park is proposed to set up at a budget of Rs 200 crore, at Pollachi, in Southern most State of India - Kerala.Viability of the proposed project is being conducted by Mahalingam College of Engineering and Technology that would spread over six acres."Coir industry has never faced raw material shortages, however, lack of upgraded technology is major drawback within, stifling the industry's progress. And to overcome this, advanced machineries are needed

Federal Government has launched Canadian Apparel and Textile Industries Program and applications for the program are being accepted currently.The project will examine various methods and implement them to increase competitiveness of the apparel and textile sector in international market.This program will fund various objectives like increasing productivity, launching new marketing strategies, identification of niche markets and developing e-business. Source: