Representatives of the Confederation of Indian Textile Industry, South India Millers' Association, North Indian Millers Association, and Texprocil met in New Delhi on Monday to take stock of the situation faced by cotton spinning mills. Currently, the cotton spinning mills are facing crisis due to high input costs and subdued demand and thus decided to go slow on production. In the meeting, it was decided to appoint an agency to study the gravity of the situation, prepare a memorandum, and se

The Department of Revenue, Ministry of Finance, Government of India has imposed anti-dumping duty on imports of flax or linen fabric having flax content of more than 50 per cent, originating in or exported from China and Hong Kong. Through its Notification no. 39/2015-Customs (ADD), issued this month, the ministry imposes anti-dumping duty of $0.75 per metre of flax or linen fabric having flax content of more than 50 per cent, for goods originating in and exported from China, exclusive of Hon

Pakistan and Thailand have agreed on the Terms of Reference (ToRs) and the framework to begin negotiations on Free Trade Agreement (FTA) between the two countries, Pakistani newspapers have reported The announcement was made by Pakistan Commerce Minister Khurram Dastgir and Thai Minister for Commerce General Chatchai Sarikulya at the end of a two-day visit of the Thai trade delegation. “Pakistan and Thailand have agreed to launch negotiations for a comprehensive FTA which will initially co

Standing waist deep in a cotton field, Egyptian farmer Mohamed Khalil cannot mask his anger; after the agriculture ministry banned cotton imports to help local producers, the cabinet abruptly vetoed the idea - the latest in a series of economic policy U-turns and delays under President Abdel Fattah al-Sisi. "I can't believe this. Just weeks ago they said we wouldn't have to worry about imported cotton," said the white-turbaned farmer, who rents a plot from the state to grow high-quality cotton a

Bangladesh has turned into a textile chemical exporter from importer in recent years, helping the country save and earn millions of foreign currency, industry players said. Presently, the country is exporting hydrogen peroxide, a major chemical used in the bleaching and sterilising process in textile and paper and pulp industries, to half a dozen countries including India, Nepal, Malaysia, Pakistan and Sri Lanka. “Until 2010, Bangladesh was an importer of the product. Now we are exporting

Garment exports declined 11.96 percent year-on-year to $2.21 billion in July, as political crisis during January-March affected orders. Earnings from the garment sector, which accounts for more than 80 percent of total exports, suffered the biggest fall in nine months. The last negative numbers recorded by the sector were in September and October 2014, when year-on-year exports fell 2.06 percent and 9.69 percent respectively. The sector also missed the targets set for the last fiscal ye

Nigeria's apex band, the Central Bank of Nigeria (CBN) has started a programme aimed at revival of the country's cotton textile and garment (CTG) industry, Nigerian media reported. CBN would provide loan at single digit interest to the CTG industry under the Real Sector Support Facility (RSSF). During a meeting with representatives of the country's textile and apparel industry in Lagos, CBN governor Godwin Emefiele said the textile and clothing sector, which once had over 150 mills and emp

Indonesian textile industry would still be pressured in the second half of the year and predicted that sales and exports of textile products would remain sluggish, according to Ade Sudrajat, head of Indonesian Textile Association (API). The domestic textile and related products market has been projected to generate Rp 60 trillion ($4.3 billion) in the second half of the year as local products hold only 20 percent of market share and the industry feels the effects of a dragging economy, an as

Reacting to China's currency devaluation, R K Dalmia, Chairman, Texprocil -- Textile Export Promotion Council -- stated that this sudden move on the part of China will have an adverse impact on India's exports of textiles and clothing, which are facing already sluggish growth due to recessionary conditions in global markets Dalmia stated that the Government has not yet announced the interest rate subvention of 3% which has been pending despite sanction of funds for this purpose by the Finance

Steady conditions prevailed on the cotton market on Wednesday as needy spinners continued to replenish their stocks to meet their near future demand. However, underlying sentiment suddenly turned cautious as Chinese currency took a fresh dip to register around 3.75 per cent devaluation during last two days, brokers said. On strong demand for lint, phutti (seed cotton) price moved higher as arrivals into ginneries was being res­tric­ted by stagnant flood water. Floor brokers sa