India Textiles Industry is poised for a quantum jump in exports by touching the USD 50 billion dollar mark by 2010. Secretary, Textiles Committee, Government of India, Rajib Aggarwal, speaking to newsmen here this evening on the eve of a one-day workshop on different of textile industry, said till last year the annual rate of export of Indian textile was to the tune of USD 15 billion, but thanks to globalisation and some positive steps taken by the centre the ammount of growth in export was inc

Gujarat Heavy Chemicals Ltd (GHCL) has acquired over 90 per cent of the US-based home textile major Dan River Inc for $17.5 million. It has also taken over debt worth $36 million of bondholders and in addition a working capital loan of $40 million. Thus the sum total works out to approximately $93 million. The acquisition was made through GHCL? international subsidiary. The acquisition would be funded through the recently concluded FCCB issue proceeds, while the existing debt would be refi

With Karachi Cotton Association (KCA) spot rate at Rs 2375 per maund, cotton witnessed average trade where about 10,000 bales changed hands on Friday. Ginners of Punjab were the active sellers, dealers informed. Top mills bought fine lots on higher prices even as quality Punjab lint fetched over Rs 2425 per maund. Certain exporters brought some of their stocks in the market to fetch better rates for their substandard quality lots, said a senior broker. Physical prices were ranged Rs 23

Foreign Cotton Consumption Growth Continues:The latest US Department of Agriculture (USDA) cotton projections for 2005/06 indicate that foreign cotton use is forecast at nearly 108.9 million bales, a record. While world cotton consumption has grown more than 27 million bales since 1997/98 to about 114.9 million, US mill use has declined over 5 million bales and is expected to be the lowest since 1984/85.US mill use has fallen rapidly from its peak in 1997/98, while cotton consumption in various

The Indo Rama Group informed that the company is looking options to restructure subsidiary Indo Rama Textiles (IRT), which could include putting the company on the block.The group is planning to concentrate on the development and manufacture of polyester yarn through Indo Rama Synthetics and look at growing the business further, sources said. It is also learnt that the group has mandated global accounting and consulting firm Ernst & Young to devise the blueprint for the restructuring exercis

French fabrics show, Texworld, will extend more space by 16 percent at its upcoming event next year in a step to enter new companies to the event.The exhibition has leased two new halls with a total space of 3,200 square metres in close proximity to the CNIT Paris La Defense exhibition centre, where it occupies six halls. The further extension brings the total space of Texworld to 23,500 square metres.The exhibition, which runs alongside fabrics event Premiere Vision, focuses on collections from

According to latest statistics from DANE released the exports of China to Columbia results in the first 10 months in 2005.It stated that in the first 10 months in 2005, China totally exported 503,949,172.00 kilograms goods to Mexico with a value of US$1.15635618 billion on FOB basis, up by 56.3% compared with the same period of last year which was US$739.703402 million and ranking No 3 among import resources of Columbia only behind the USA and Mexico which were US$6.7775 billion and US$1.3023 bi

Increase in yarn production of China has been pushed beyond Shandong province with a record new fixed asset investment entered upon China? cotton textile industry in 2005.During 2004, and even 2005, Shandong was the center of China? growth in yarn production.The largest textile group of China is based in Shandong. This group has successfully utilized Hong Kong? capital markets for growth.Hebei and Guandong provinces have led the fastest expansion from August to November production of yarn with 4

A slump in demand for cotton denim fabric has not only affected the orders of the local US producers and apparel makers but also has considerably decreased their demand for cotton denim fabric.Cotton denim industry in the US, exports fabric to Mexico, Guatemala and Colombia. US manufacturers exported 179.52 million square meters of fabric in 2004.As demand for denim products within the US markets has gone down, the situation has affected demand from US mills for cotton denim fabric imports and d

Ministry of Commerce (MOC) of the People's Republic of China informed that Vice Minister of Commerce (MOC) Yi Xiaozhun, who attended the 6th WTO Ministerial Conference, signed with Pyatnitsky, Ukraine's senior deputy economy minister Ignaschenko, the China-Ukraine Bilateral WTO Market Access Agreement in the morning on December 16, formally ending the negotiation on bilateral market access. In the process of negotiation, Ukraine recognized China's complete market economy status and positively re