India has huge potential to capture market space in MMF sector

News Tags: capture market space, CEO, due to declining Chinese textile exports, focusing on man-made fibre, FTAs, IIFT, Impluse Buying House, India has huge potentia, India sourcing hub and investment destination, international textile market, MMF, Sunil Arora, textile exports, Textiles India trade fair, vacated by China

Ahmedabad
India has huge potential to capture market space in MMF sector
Summary: 
India has a huge potential to capture the market space by focusing on man-made fibre (MMF) that is vacated by China in the international textile market due to declining China’s textile exports, said Sunil Arora, CEO, Impluse Buying House while speaking at a seminar on "India as a sourcing hub and investment destination" on the last day of Textiles India 2017 trade fair in Gandhinagar.

India has a huge potential to capture the market space by focusing on man-made fibre (MMF) that is vacated by China in the international textile market due to declining China’s textile exports, said Sunil Arora, CEO, Impluse Buying House while speaking at a seminar on "India as a sourcing hub and investment destination" on the last day of Textiles India 2017 trade fair in Gandhinagar.

Synthetic textiles made from MMF account for 70% of world textile supply and the rest is cotton.

India has huge potential to capture market space in MMF sector
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Demand for reduction of GST rate on MMF and yarn

News Tags: accumulation of excess credit, affect independent weaving, become a blocked credit, eighteen percent rate on yarn, increase fabric cost, MMF, reduction of GST rate on manmade fiber, refund to be permitted for fabric manuafacturers, spinning units, Textile mills, to twelve percent, yarn

Coimbatore
Demand for reduction of GST rate on MMF and yarn
Summary: 
Textile mills demand reduction of GST rate on manmade fiber (MMF) and yarn to 12 percent from 18 percent and refund should be permitted for fabric manuafacturers.

Textile mills demand reduction of GST rate on manmade fiber (MMF) and yarn to 12 percent from 18 percent and refund should be permitted for fabric manuafacturers.

According to Prabhu Dhamodharan, secretary of Indian Texpreneurs Federation, about 430 mills have recently sent their appeal to the Prime Minister’s Office in this regard.

While the rate for fabric is 5 percent that for yarn and fibre is 18 percent. Fabric manufacturers do not have the provision of refund and hence, this would become a “blocked credit”.

http://www.thehindu.com/news/cities/Coimbatore/textile-mills-seek-reduction-of-duty-for-mmf/article19098103.ece
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Central govt seriously mulling mega textile park in Surat

News Tags: Ajay Tamta, domestic market, huge potential in international, largest man-mad fabric of India, manufacture different varieties of fabrics, Minister of state for textiles, Ministry of Textiles, MMF, seriously mulling of providing a Centre of Excellence, SGCCI, SITEX, supporting the proposal for establishing a mega textile park at Pinjrat, Surat

Surat
Central govt seriously mulling mega textile park in Surat
Summary: 
Surat , the country’s largest man-mad fabric (MMF) and the Ministry of Textiles is seriously mulling of providing a Centre of Excellence and supporting the proposal for establishing a mega textile park at Pinjrat, Ajay Tamta, the Minister of state for textiles said at SITEX on Saturday.

Surat , the country’s largest man-mad fabric (MMF) and the Ministry of Textiles is seriously mulling of providing a Centre of Excellence and supporting the proposal for establishing a mega textile park at Pinjrat, Ajay Tamta, the Minister of state for textiles said at SITEX on Saturday.

Ajay Tamta said that the Ministry of Textiles is working positively on the proposals submitted by Southern Gujarat Chamber of Commerce and Industry (SGCCI) on establishing a 'centre of excellence' and a mega textile park at Pinjrat near Olpad.

http://timesofindia.indiatimes.com/city/surat/mega-textile-park-in-surat-under-central-govts-active-consideration/articleshow/57351177.cms
0

Eight garment units to go operational in NE States soon

News Tags: abolition of Hank yarn Obligation, cotton spinning, eight garment units, emerging markets, FTA with European Union, garment and textile exports, Indian textile industry, ITF, Make in India textile industry, MMF, operational in north eastern state, rationalize duty on Man Made Fibre, Santosh Gangwar, Strategy for growth, Union Textile Minister

Coimbatore
Eight garment units to go operational in NE States soon
Summary: 
Union Textile Minister Santosh Kumar Gangwar addressing the 'Make in India-Textile Industry- Strategy for Growth' function, organized by Indian Texpreneurs Federation ((ITF) yesterday said that Prime Minister Narendra Modi will be dedicating eight garment units in the north eastern state in a month. Each of which will be set up at a cost of Rs18.18 crore, work for the units is going in full swing and will become operational in another one months time.

Union Textile Minister Santosh Kumar Gangwar addressing the 'Make in India-Textile Industry- Strategy for Growth' function, organized by Indian Texpreneurs Federation ((ITF) yesterday said that Prime Minister Narendra Modi will be dedicating eight garment units in the north eastern state in a month. Each of which will be set up at a cost of Rs18.18 crore, work for the units is going in full swing and will become operational in another one months time.

http://www.oneindia.com/india/pm-to-dedicate-eight-garment-units-in-northeast-states-in-a-month-1990357.html
0

Third edition of Indian Textiles Exhibition take place in Egypt soon

News Tags: active support of Cario Chamber of Commerce, dress materials, Embassy of India, embroidered fabrics, forging win-win partnership, furnishing, high fashion fabrics, home textiles, INTEXPO Egypt, MMF, organized by SRTEPC, scarves, shawls, shirtings, showcase latest range of yarn and fabrics, stoles, suitings, third edition of Indian Textiles Exhibition, Thirty three Indian textile companies participating

Mumbai
Third edition of Indian Textiles Exhibition take place in Egypt soon
Summary: 
The third edition of Indian Textiles Exhibition in Egypt (INTEXPO EGYPT) is being organized by the Synthetic & Rayon Textiles Export Promotion Council of India in association with the Embassy of India and with the active support of Cairo Chamber of Commerce from 1st to 4th October at Cairo in Egypt.

The third edition of Indian Textiles Exhibition in Egypt (INTEXPO EGYPT) is being organized by the Synthetic & Rayon Textiles Export Promotion Council of India in association with the Embassy of India and with the active support of Cairo Chamber of Commerce from 1st to 4th October at Cairo in Egypt.

The INTEXPO is aimed at forging win-win partnership among the Indian and Egyptian companies for effective forward and backward business linkages in the near future.

http://www.business-standard.com/article/pti-stories/33-indian-companies-participate-in-textile-exhibition-in-egypt-115092500997_1.html
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Ninth edition of Texfair and second edition of Farm to Finish kick off

News Tags: Confederation of Indian Textile Industry, exhibition of textile machinery, Indian textile industry, MMF, Ninth edition of Texfair, second edition of Farm to Finish, SIMA, spares and accessories, textile product exhibition, TUFS

Coimbatore
Ninth edition of Texfair and second edition of Farm to Finish kick off
Summary: 
The ninth edition of Texfair, an exhibition of textile machinery spares and accessories, and the second edition of Farm to Finish, an exhibition of textile products started off at the Codissia Trade Fair Complex organized by Southern India Mills’ Association (SIMA). The event is on for four days from January 9.

The ninth edition of Texfair, an exhibition of textile machinery spares and accessories, and the second edition of Farm to Finish, an exhibition of textile products started off at the Codissia Trade Fair Complex organized by Southern India Mills’ Association (SIMA). The event is on for four days from January 9.

At the inaugural of Texfair 2015, Prem Malik, chairman of Confederation of Indian Textile Industry, said that one of the main areas that the Indian textile industry needs to focus on is diversifying to man-made fibre-based textile products.

http://www.thehindu.com/news/cities/Coimbatore/focus-on-manmade-fibre/article6774053.ece
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Texpreneurs forum urge for fibre policy to make the spinning sector in India more competitive

News Tags: cotton, cut in excise duty, cut in import duty structure, differential taxation, global demand for fibre, Indian textile industry, lop sided fibre, MMF, rising energy cost, synthetic fibre, Texpreneurs Forum

Coimbatore
Texpreneurs forum urge for fibre policy to make the spinning sector in India
Summary: 
The Indian textile industry is facing hurdle on account of differential taxation, rising energy cost, lop-sided fibre and trade policy. And this is at a time when the global demand for fibre – both cotton and MMF (man-made fibre) is on the rise.

The Indian textile industry is facing hurdle on account of differential taxation, rising energy cost, lop-sided fibre and trade policy. And this is at a time when the global demand for fibre – both cotton and MMF (man-made fibre) is on the rise.

Stakeholders have sought a cut in the excise and import duty structure for synthetic fibre to deal with the trend. It wants the excise duty to be lowered from the prevailing 13 percent to 4 - 5 per cent and the import duty from 28 percent to 2 - 3 percent.

http://www.thehindubusinessline.com/news/states/high-duty-on-synthetic-fibre-can-be-detrimental-for-textile-industry/article6643913.ece
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FIASWI urges for hike in import duty on Chinese fabric

News Tags: Chinese fabric, Federation of Indian Art Silk Weaving Industry, FIASWI, hike in import duty, import of MMF fabric, Maharashtra, man made filament yarn, MMF, subsidy by Chinese government, Surat

Surat
FIASWI urges for hike in import duty on Chinese fabric
Summary: 
The Federation of Indian Art Silk Weaving Industry expressing concerns over the dwindling in demand of man-made fabric (MMF) manufactured in Surat, Maharashtra and other parts of the country due to the huge increase in import of MMF fabric in 2013-14 from China, Taiwan and South Korea.

The Federation of Indian Art Silk Weaving Industry expressing concerns over the dwindling in demand of man-made fabric (MMF) manufactured in Surat, Maharashtra and other parts of the country due to the huge increase in import of MMF fabric in 2013-14 from China, Taiwan and South Korea.

FIASWI has urged for hike in import duty on fabric from 10% to 30% to discourage Chinese manufacturers.

http://timesofindia.indiatimes.com/Weavers-want-more-duty-on-Chinese-fabric/articleshow/45246130.cms
0

MMF traders and processors dissent to hike in job charge

News Tags: crude oil price, Federation of Surat Textile Traders' Association, inflation, late monsoon, MMF, processor. job charge hike, SGTPA, trader

Surat
MMF traders and processors dissent to hike in job charge
Summary: 
MMF traders and processors highly disturbed with the hike in job charges recently announced by South Gujarat Textile Traders Association (SGTPA). They have strongly opposed to accept any further hike in prices or taxes stating that it is difficult for them to pass on the burden to the buyers when the man made fabric (MMF) demand has already been hit by inflation followed by late monsoon.

MMF traders and processors highly disturbed with the hike in job charges recently announced by South Gujarat Textile Traders Association (SGTPA). They have strongly opposed to accept any further hike in prices or taxes stating that it is difficult for them to pass on the burden to the buyers when the man made fabric (MMF) demand has already been hit by inflation followed by late monsoon.
 

http://timesofindia.indiatimes.com/City/Surat/Traders-processors-oppose-job-charge-hike/articleshow/38597829.cms
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