Textile Ministry seeks early nod for Rs 170-crore knitwear package

News Tags: boost investment, boost job creation, clear Rs 170-crore special package, comprises small and medium enterprises, employment intensive sector, Finance Ministry, knitwear sector, lift sagging exports, Textile Ministry

New Delhi
Textile Ministry seeks early nod for Rs 170-crore knitwear package
Summary: 
The textile ministry is expecting the finance ministry to clear Rs 170-crore special package for the knitwear sector at the earliest as it is an employment intensive sector so any effort to boost investment will boost job creation and lift sagging exports.

The textile ministry is expecting the finance ministry to clear Rs 170-crore special package for the knitwear sector at the earliest as it is an employment intensive sector so any effort to boost investment will boost job creation and lift sagging exports.

The knitwear industry, which mainly comprises small and medium enterprises, was left out in the earlier scheme of things. Exporters believe that the package can ease the pain especially after the goods and services tax rollout.

https://economictimes.indiatimes.com/industry/cons-products/garments-/-textiles/textile-ministry-expects-early-nod-for-rs-170-crore-knitwear-package/articleshow/62494609.cms
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Textiles Ministry identifying 13 nations to expand market share

News Tags: aligning product with specific market, boost exports, five percent trade share, government identified thirteen countries, huge potential for India, increase market share in various markets, India second largest exporter, Marketing Plan prepared, showcase products at exhibition, target markets, textile and apparel in the world, Textile Ministry

New Delhi
Textiles Ministry identifying 13 nations to expand market share
Summary: 
India is the second largest exporter of textile and apparel in the world with 5 percent trade share. To boost exports, government has identified 13 countries as target markets as there exists a huge potential for India to increase its market share in various markets by aligning the product with specific market, said textile ministry.

India is the second largest exporter of textile and apparel in the world with 5 percent trade share. To boost exports, government has identified 13 countries as target markets as there exists a huge potential for India to increase its market share in various markets by aligning the product with specific market, said textile ministry.

https://economictimes.indiatimes.com/industry/cons-products/garments-/-textiles/textiles-ministry-zeroes-in-on-13-nations-to-expand-market-share/articleshow/62006678.cms
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Revision of incentives helps Pakistan’s textile exports gain traction

News Tags: Economic Coordination Committee, Pakistan government, Prime minister package, textile exports, Textile Ministry

Islamabad
Revision of incentives helps Pakistan’s textile exports gain traction
Summary: 
The Ministry of Textiles of the Pakistan Government has issued a notification stating that in pursuance of entry 7 of item 39 of Schedule II of the Rules of Business, 1973, the Prime Minister package of incentives for exporters was approved by Economic Coordination Committee (ECC) of the Cabinet.

The Ministry of Textiles of the Pakistan Government has issued a notification stating that in pursuance of entry 7 of item 39 of Schedule II of the Rules of Business, 1973, the Prime Minister package of incentives for exporters was approved by Economic Coordination Committee (ECC) of the Cabinet.

http://dunyanews.tv/en/Business/411111-MINTEX-PM-Exports-Enhancement-Package-incentives-for-textile-exporters
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Textile Ministry to improve cotton fibre testing labs capacity building

News Tags: cotton fibre testing laboratories, cotton sector stakeholders, enhance capacity building, in Sindh and Punjab stations, lull interest, officials of Pakistan Cotton Standard Institute, Pakistan Textile Ministry, testing units have either fallen to dull interest, Textile Ministry, workability of laboratories

Karachi
Textile Ministry to improve cotton fibre testing labs capacity building
Summary: 
The Pakistan Textile Ministry has been urged to enhance the capacity building of cotton fibre testing laboratories in Sindh and Punjab stations by the cotton sector stakeholders as these testing units have either fallen to the dull interest of the officials of Pakistan Cotton Standard Institute or Textile Ministry's unmoved stance for the last many months showing lull interest towards the workability of these laboratories.

The Pakistan Textile Ministry has been urged to enhance the capacity building of cotton fibre testing laboratories in Sindh and Punjab stations by the cotton sector stakeholders as these testing units have either fallen to the dull interest of the officials of Pakistan Cotton Standard Institute or Textile Ministry's unmoved stance for the last many months showing lull interest towards the workability of these laboratories.

Around 5 established modern and start-of-the-art cotton fiber testing laboratories were set up around 2007-2009.

http://dailytimes.com.pk/business/08-Jun-17/textile-ministry-to-enhance-capacity-building-of-cotton-fibre-testing-labs
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Textile and garment exports target set to $45 bn for FY18

News Tags: attract potential investors, current fiscal, India EU free trade agreement, labour intensive sector, lower than the initial target, National Textiles Policy, road shows, set to USD forty five billion, special package for the knitwear industry, stiff competition, Textile and clothing export target, Textile Ministry, zero duty access

New Delhi
Textile and garment exports target set to $45 bn for FY18
Summary: 
The country’s textile and clothing export target is set to $45 billion for the current fiscal, lower than the initial target of $48.5 billion set for the previous fiscal which was missed by a huge margin. Nevertheless the target for 2017-18 represent a 17 percent rise from the actual level of $38.6 billion in 2016-17, according to provisional official estimates.

The country’s textile and clothing export target is set to $45 billion for the current fiscal, lower than the initial target of $48.5 billion set for the previous fiscal which was missed by a huge margin. Nevertheless the target for 2017-18 represent a 17 percent rise from the actual level of $38.6 billion in 2016-17, according to provisional official estimates.

http://indianexpress.com/article/business/market/govt-cuts-textile-and-garment-exports-target-to-45-billion-4668904/
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Revamped Technology mission on cotton likely to be introduced

News Tags: Agriculture Ministry, cotton, evamped Technology Mission, file data on quality and quantity, first two with cotton productivity, four part mission, ginning to garmenting, Kavita Gupta, Textile Commissioner, Textile Ministry, third and fourth missions, thrust to cotton sector, under Textile Ministry

New Delhi
Revamped Technology mission on cotton likely to be introduced
Summary: 
The Textile Ministry is looking to introduce a revamped Technology Mission on Cotton said Textile Commissioner Kavita Gupta. The mission will have four parts. The first two will deal with cotton productivity and will come under the Agriculture Ministry. The third and fourth missions will be under the Textile Ministry. This initiative is to give a thrust to the cotton sector.

The Textile Ministry is looking to introduce a revamped Technology Mission on Cotton said Textile Commissioner Kavita Gupta. The mission will have four parts. The first two will deal with cotton productivity and will come under the Agriculture Ministry. The third and fourth missions will be under the Textile Ministry. This initiative is to give a thrust to the cotton sector.

http://www.thehindu.com/todays-paper/tp-business/rejigged-cotton-project-on-the-anvil-textile-commissioner/article18261873.ece
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Textile Ministry reviewing SITP post violation of norms by some SPVs

News Tags: mega textile parks, needs to be rectified, non-textiles units operating from inside the parks. many loopholes in the scheme, recommends new scheme, report found scheme failed to achieve its objectives, reviewing the Scheme for Integrated Textile Parks, SITP, special purpose vehicles of the parks violated norms, Textile Ministry

New Delhi
Textile Ministry reviewing SITP post violation of norms by some SPVs
Summary: 
The Textile Ministry is reviewing the Scheme for Integrated Textile Parks (SITP) after a report found that the scheme failed to achieve its objectives and special purpose vehicles of the parks violated norms as non-textiles units were operating from inside the parks. Also there are many loopholes in the scheme which needs to be rectified, according to a senior Textiles Ministry official.

The Textile Ministry is reviewing the Scheme for Integrated Textile Parks (SITP) after a report found that the scheme failed to achieve its objectives and special purpose vehicles of the parks violated norms as non-textiles units were operating from inside the parks. Also there are many loopholes in the scheme which needs to be rectified, according to a senior Textiles Ministry official.

http://www.financialexpress.com/economy/government-reviewing-scheme-for-integrated-textile-parks-post-violation-of-norms-by-some-spvs/575576/
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MoUs worth Rs 8,835 signed at Vibrant Gujarat Summit in textile sector

News Tags: carpet development, machinery, seminar at the Vibrant Gujarat Summit, Textile Ministry, textile processing, textile sector. pacts have been signed, various segments such as textile parks, witnessed signing of MoUs, worth more than eight thousand crore

New Delhi
MoUs worth Rs 8,835 signed at Vibrant Gujarat Summit in textile sector
Summary: 
The Textile Ministry during a seminar at the Vibrant Gujarat Summit witnessed signing of MoUs worth Rs8,835 crore in textile sector. The pacts have been signed in various segments such as textile parks, textile processing, machinery and carpet development.

The Textile Ministry during a seminar at the Vibrant Gujarat Summit witnessed signing of MoUs worth Rs8,835 crore in textile sector. The pacts have been signed in various segments such as textile parks, textile processing, machinery and carpet development.

http://economictimes.indiatimes.com/industry/cons-products/garments-/-textiles/vibrant-gujarat-summit-rs-8835-crore-mous-signed-in-textile-sector/articleshow/56502223.cms
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Textile Ministry set to see substantial jump in fund allocation

News Tags: CCEA, coming budget, focus on labour incentive sector, fund allocation, latest and previous avatars of TUFS, new duty drawback scheme, see substantial jump, settle both old and new claims, special package for garment industry, Textile Ministry

New Delhi
Textile Ministry set to see substantial jump in fund allocation
Summary: 
The textile ministry although has in recent months cleared some of the old claims yet a chuck of claims are to be cleared for which the ministry is already seeking funds to settle both old and new claims under the latest and the previous avatars of the Technology Upgradation Fund Scheme (TUFS) as well as to cater to claims of refunds under the new duty drawback scheme announced as part of a special package for the garments industry in June, sources said.

The textile ministry although has in recent months cleared some of the old claims yet a chuck of claims are to be cleared for which the ministry is already seeking funds to settle both old and new claims under the latest and the previous avatars of the Technology Upgradation Fund Scheme (TUFS) as well as to cater to claims of refunds under the new duty drawback scheme announced as part of a special package for the garments industry in June, sources said.

http://www.financialexpress.com/budget/budget-2017-as-narendra-modi-govt-focuses-on-labour-intensive-sectors-textile-ministry-set-to-see-jump-in-allocation/488396/
0

Steep decline yarn prices affecting powerlooms sector

News Tags: affecting powerloom sector, cotton price, declining slowly, demonetization, Erode Powerloom Owners Association, fix price, high production cost, huge quantity of cloth, of All Traders and Industries Association, power looms in Erode closed down, powerloom owners, stability of cotton and yarn prices, Textile Ministry

Erode
Steep decline yarn prices affecting powerlooms sector
Summary: 
Cotton price that stood at Rs 52,000 a bale (172 kg) some months back has started declining slowly which is now available at Rs 46,000 to Rs 48,000 a bale. A steep decline in yarn prices is affecting the powerloom sector. About 2,000 of the about 10,000 power looms in Erode and surrounding areas closed down in the last three days, with the danger of many more following suit, according to a senior official of Erode Powerloom Owners Association.

Cotton price that stood at Rs 52,000 a bale (172 kg) some months back has started declining slowly which is now available at Rs 46,000 to Rs 48,000 a bale. A steep decline in yarn prices is affecting the powerloom sector. About 2,000 of the about 10,000 power looms in Erode and surrounding areas closed down in the last three days, with the danger of many more following suit, according to a senior official of Erode Powerloom Owners Association.

http://www.business-standard.com/article/pti-stories/2000-powerlooms-closed-many-more-in-danger-of-shutting-down-116120100178_1.html
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