Posts Tagged ‘textile’

« Older Entries

Cotton under restricted list

Tuesday, May 25th, 2010

M. Soundariya Preetha

The Union Ministry of Commerce and Industry has brought cotton and cotton waste under the restricted list for exports through a notification dated May 21, 2010.

Thus, export license is now needed to export cotton or cotton waste. During the cotton season (October 2009 to September 2010), 85.26 lakh bales of raw cotton were registered for exports from October 2009 to April 15, 2010, and of this, 73.58 lakh bales were shipped. On April 19, the Union Ministry of Textiles suspended registration of cotton and cotton waste for exports.

According to Secretary General of the Confederation of Indian Textile Industry D. K. Nair, only a negligible quantity is expected to be permitted for further export from the current crop as the Group of Ministers had decided last month that a closing stock of 50 lakh bales should be maintained.

Cotton availability is likely to go up in the domestic market and prices will come down. This will, however, not affect farmers as most of the cotton production had already come to the market this season, he said.

News Source is http://beta.thehindu.com

Tags: , , , , , ,
Posted in Uncategorized | No Comments »

Textiles exports may touch $24 billion in 2010-11

Monday, May 24th, 2010

SME Times News Bureau
With the revival of demand in Western markets, India’s textile exports may grow up to $24 billion in 2010-11 from an estimated $20 billion in the previous fiscal, industry and government officials have said in New Delhi.

“In 2009-10, our textiles exports are estimated at $20 billion due to the global economic crisis. We expect exports to be $24 billion for the current fiscal,” an official in the Textile Ministry said.

The textile exports are set to move in sync with the country’s overall exports, which have been growing for six months since November, 2009.

Federation of Indian Export Organisations (FIEO) President A Sakthivel said textile exports can reach $24 billion if the government extends a helping hand to the industry, which is facing problems.

There has been a steep rise in cotton prices, which shot up by over 20 per cent in the past six months, resulting in higher fabric costs.

“The target can be met provided the government continues some regulations on cotton and cotton yarn exports,” he said.

The government has brought cotton exports under the restricted category, with overseas shipments subject to licensing.

US and European markets, which account for 30-35 per cent of textile exports from India, have seen revival of demand across different sectors, exporters said.

The exporters are also exploring new markets like Africa, Latin America and Oceania.

“Orders are improving. Demand for fabric has also gone up,” said Confederation of Indian Textile Industry (CITI) Secretary General D K Nair.

News Source is http://smetimes.tradeindia.com

Tags: , , , , , , ,
Posted in Textile news and updates | No Comments »

Removing mistrust through bis coopn

Thursday, May 20th, 2010

United News of India

Setting aside political differences, India and Pakistan have decided to change public perception and remove the existing mistrust between the two countries through promotion of trade and business ties.

A two-day meeting of top Indian and Pakistani CEOs and entrepreneurs here, which concluded today, proposed several steps to aggressively pursue the benefits of economic cooperation and identified several sectors having the highest potential for bilateral cooperation.

These include energy, agriculture, health-care, information technology and education.

The conference which was inaugurated by Finance Minister Pranab Mukherjee yesterday, also urged the governments in both the countries to take all steps necessary to realize the tremendous potential of trade and commerce between the two countries. The meeting noted with concern that South Asia is the world’s least economically integrated region.

Mr Mukherjee, who was the External Affairs Minister when the 26/11, 2008, terror attacks on Mumbai took place, stressed the strong linkage and inter-dependence between peace and sustained economic growth and development of the two countries.

After the two-day deliberations, industry leaders of both the countries agreed that economic cooperation was crucial to peace and progress in a region that has the highest concentration of people living below the poverty line.

The participants said potential existed for the export of home textiles from Pakistan to India while a huge market existed in Pakistan for India’s polyester textiles.

In the field of IT, the fastest growing sector in both countries and the easiest area to cooperate in, India could collaborate with Pakistan by providing skilled resources at competitive rates.

Considerable potential existed for trade in agriculture through streamlining logistics and storage facilities.

The Joint Declaration said India and Pakistan could also collaborate on research for improved yields in, and greater export for, both the countries. In health-care, opportunity for collaboration existed in research and combating the three major diseases in both the countries–heart, diabetes and cancer.

For energy cooperation, the conference said both the countries had huge untapped reserves of energy and collaboration could lend impetus to accelerated growth and development.

In education, given the low average age in both countries (18.2 years in Pakistan and 22.5 years in India), education and skill development was an area of immediate concern and potential.

Cooperation and sharing of strategies in education is the best investment that both the countries can make, the Joint Declaration said.

Committees comprising business leaders from both the countries were established for IT and textile sectors while similar committees for other sectors were in the process of being set up, it added.

News’s Source is http://www.centralchronicle.com/

Tags: , , , , , , ,
Posted in Textile news and updates | No Comments »

Dhaka textile firms lack skilled hands

Saturday, May 15th, 2010

PALPA: The cottage industries in Palpa are facing a shortage of workers after the youths from the district have been lured towards foreign employment. This situation has arisen after increasing number of youths from the district started going for foreign employment due to the low wages and irregular pay at home.

The traditional Dhaka textile industries, a hallmark of Palpa district, have been hit hard by shortage of skilled workers.

The Karki Dhaka Udhyog located in the district headquarters Tansen is facing shortage of manpower at present. This Dhaka textile factory needs approximately 60 skilled and semi-skilled workers. There are only 25 workers at present.

Proprietors of Dhaka textile industries in Palpa district say they are facing shortage of skilled human resources as an increasing number of youths started going abroad for work or those already employed at their factories left their jobs to go on foreign employment. Although more than 400

industries, including the Dhaka textile industries, have been registered in Palpa district, not even 50 per cent of them are in operation due to the shortage of skilled workers, an officer at the District Cottage and Small Industries Office said.

News Source is http://www.thehimalayantimes.com

Tags: , , , , , ,
Posted in Textile news and updates | No Comments »

Textile mills shut across the country in protest

Wednesday, May 12th, 2010

FAISALABAD/KARACHI All the textile mills remained closed throughout the country on Tuesday in the wake of a strike call given by Value-Added Textile Forum against the yarn and cotton crisis and power load shedding.

Value-Added Textile Forum sources told TheNation that complete strike was observed in Faisalabad as well as in the country by the textile sector while some 10,000 textile mills were totally closed in Faisalabad including 400 stitching, 300 dying, 450 printing, 1,000 hosiery and 350 sizing units.

Rallies were organised in all the four districts of Faisalabad division including Jhang, Chiniot, Toba Tek Singh and Faisalabad districts. Protest were also reported from other major cities including Karachi, Gujranwala, Sialkot and Multan.

Most of the rallies were led by the factory owners. Thousands of textile workers took part in the rallies. The protesters carried banners and placards inscribed with slogans: ‘Save the Textile Industry, Save the Country and Clamp Complete ban on export of cotton and yarn’.

The activists also chanted slogans against Prime Minister Yousuf Raza Gilani and President Asif Zardari. The workers warned the government of dire consequences, asserting they would not allow anyone to play with the livelihood of the laborers.

Thousands of workers and owners of value-added textile sector took out protest processions from various places and blocked the city roads. The main protest procession was taken out from Khurrianwala Industrial Estate, which was led by Chairman Pakistan Textile Exporters Association Khurram Mukhtar and Vice Chairman Sohail Pasha and other leaders of Value-Added Textile Forum. The rally demanded total ban on export of yarn with a view to saving the industry from collapse and the workers jobs.

Read more here http://www.nation.com.pk

Tags: , , , , , , ,
Posted in Textile news and updates | No Comments »

Indigenous industry needed to boost technical textile market

Monday, May 10th, 2010

COIMBATORE: India needed to give a push to indigenous industry in technical textile market for boosting the domestic consumption of the products, a US-based expert in the sector has said.

For boosting the domestic consumption of technical textile products, India needed indigenous industry, which can manufacture products such as diaper, feminine hygiene products, Dr Ramkumar Seshadri, Professor at Texas Tech University, USA, said in an article.

These products were still dominated by major international brands such as Pampers, Huggies and SCA-Godrej, he said adding their cost was unaffordable for common man in India.

The cost of branded diapers was around Rs.nine and this should be brought down to Rs.five for the industry to boom in India, he said.

For this to happen, India urgently needed converting sector which would take fabrics and make useful end-use products such as filters and diapers. Moreover, due to the growing domestic consumption and increase in wages, the need for consumer products at affordable rates will rise, he said.

International non-woven technical textile industry machinery makers and trade bodies should look for win-win opportunities in the creation of converting clusters, he said.

Though India has adequate good manufacturers although not of high quality, the industry at present was reluctant to invest in high-end machinery. Marketing know-how and coordinated approach towards marketing was another major factor, to boost the sector, he said.

News source is http://economictimes.indiatimes.com

Tags: , , , , , ,
Posted in Textile news and updates | No Comments »

Center withdraws duty drawback, cotton yarn exporters cry foul

Wednesday, May 5th, 2010

Raakhi Jagga
Posted: Wednesday, May 05, 2010 at 0214 hrs

Ludhiana:
Union Textile ministry’s order withdrawing the four to five per cent duty drawback provided to cotton yarn exporters is the second shock for the exporters in the past one month. Last month, duty entitlement passbook (DEPB) worth 7.67 per cent on the total sales was also withdrawn on cotton yarn exports. Ashish Bagrodia, president of Northern India Textile Mills Association (NITMA), said this is an effort to curb exports.

The smaller players — the end users of the cotton yarn have, however, welcomed the move. They had earlier presented their problem before the Union Textile ministry that yarn manufacturers are increasing the prices of cotton yarn in the domestic market in an arbitrary manner.

In the past three months, the prices had increased from Rs 140 per kg to Rs 175 per kg, however, from May 1 Rs 5 per kg was reduced from the cost of yarn. Bagrodia said the government’s decision to withdraw duty drawback for cotton yarn is very unfortunate and unfair. The move is also inequitable as all other export products are eligible for the refund of duties and the sudden withdrawal will have long-term implications for the healthy development of the sector in future, he claimed.

News source is http://www.indianexpress.com/news/

Tags: , , , , , , , , , , , , , ,
Posted in Textile news and updates | No Comments »

RPT-OUTLOOK-India cotton seen down on export ban

Tuesday, April 27th, 2010

Tue Apr 27, 2010 8:27am IST

MUMBAI, April 26 (Reuters) – India’s cotton prices may fall sharply after India stopped exports of the commodity last week, analysts and traders said.

India has stopped cotton exports to control soaring local prices, tightening global supplies and raising prospects of a further rise in New York futures that rose to a two-year high last month.

Spot prices of most popular variety of cotton have come down by 3 percent since the ban imposed last Tuesday. The prices had risen upto 54 percent compared with the same period last year.

The Indian government stopped registering new contracts for exports from April 19 after a panel of ministers discussed steps to arrest the sharp rise in local cotton prices, an official statement said.

This month, the chairman of the government’s Cotton Advisory Board said India’s cotton exports in the year to September 2010 were likely to more than double to 8 million bales on strong demand from China and Bangladesh.

Out of 8.5 million bales of cotton registered with the authorities for exports, 6.01 million bales had already been shipped out, a senior official in the textile ministry told Reuters last week.

“Global prices will rise …but domestically prices may come down,” said Vandana Bharti, head of research at SMC Comrade.

However, the textile industry, which is the primary user of the commodity, believes prices may not come down significantly as already large amount have been exported.

“It’s too late …the cost of production has been very high for large part of the year…now there is not much stock left anyway,” said an official with a textile industry association.

(Editing by Sourav Mishra; Editing by Prem Udayabhanu)

This news from http://in.reuters.com/article/domesticNews/idINSGE63Q02H20100427

Tags: , , , , , , ,
Posted in Textile news and updates | No Comments »

Textile companies tapped in bailout

Tuesday, March 23rd, 2010

Dealers of Textile Industry were cobbling formal application together during the last week with the wish to avail the P38millions bailout that government is likely to extend for troubling the sector for a period of 2 years.
At the Ministry of Trade and Industry’s Industrial Affairs Department, a committee has been appointed for verifying the anticipated bunch of applications from the industry that is listed among the most affected ones by recession during the previous years.

Thousand numbers of workers lost their jobs as so many companies dealing with the textile industry were shaken last year.

Pressurized by the cheap quality Asian products along with few support of SACU, Southern African Customs Union duty credit certificates, earnings of textile industry lowered down many levels during 2006.

Bailout- designed for improving job retention and competitiveness was basically targeted on the citizen employees and citizen owned companies, by the way of provision kept for financial grant to those organizations that have started taking subsidies for re-employed workers, re-employed citizens otherwise and guarantees of government for loans by CEDA targeted over upgrading of equipments and machinery and working capital.

Guarantee has been raised up to the non-citizen companies that are willing to access it through Venture Capital Fund by CEDA. Alongside, subsidies levied on wages and salaries too will be covering citizen workers that been there in a way helping the organization remain afloat.

Giving confirmation about the raised benefits, Executive Director of BEMA, Botswana Exporter and Manufactures Association, Laogo Raditedu, explained that expectations for the applications are their that are likely to be rolling during the week.

Tags: , , , , , , , , ,
Posted in Textile news and updates | No Comments »

Textile industry of India bets bigger on Latin American market

Monday, March 22nd, 2010

New Delhi: Textile Industry of India, still being in process of recovery from the impact of economic recession is making a move towards grabbing a share in the developing textile market of Latin America.

Brazil and Argentina were major investments in Textile Industry of India, would be playing host to another 22 companies in India likely to participate in Mega Textile and Clothing Exhibitions to be held in Buenos Aires at Argentina on 25th -26th March 2010 and on 29th-30th March 2010 at Sao Paulo in Brazil under flag of SRTEPC, Synthetic & Rayon Textiles Export Promotion Council.

Ambassador of India to Argentina, Paraguay and Uruguay, R Viswanathan said, Focus area is Latin America having huge potential for growth and expansion of textile export as India exporters is still not familiar with all these markets. Among the Latin American Countries, Argentina and Brazil are holding the highest potentials for raising the textile and clothing exports from India.

Though Argentina and Brazil import clothing & textiles worth Rs. 7,290crores and Rs. 17,243crores respectively, share of India in these markets is almost negligible at 6% & 12% respectively. Hence, tremendous scope is there getting an increase in the exports of Indian textiles especially to these markets and the mega events are meant to access this objective, explained Vishwanathan.

Event is a collective effort scheduled by SRTEPC in co-operation with Apparel & Cotton Textile Export Promotion Councils (AEPC & TEXPROCIL), in accordance with the active participation of concerned Missions from India.

Tags: , , , , , , , , ,
Posted in Textile news and updates | No Comments »

« Older Entries