In China, offers for ring‐spun 30s weaving yarn in Xiaoshan rose US cent 1 a kg in the third week of June while compact siro‐spun 40s yarns in Jiangsu were up US cents 2 a kg on the week.
India has huge potential to capture market space in MMF sector
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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.
Fashion show Symphony of Weaves celebrated story of Indian textile
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Symphony of Weaves, a unique fashion show was the largest curated and presentation of Indian textiles produced by IMG Reliance Industries Ltd celebrating the story of Indian textiles in the form of exquisite innovations in craft and design at the first ever global B2B textile event Textile India 2017.
India, Russia textile trade likely to reach more than $1bn
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The textile trade between India and Russia currently stands at $161 million, but has the potential to reach more than $1 billion with a huge market of winter wears in Russia, said J K Dadu, additional secretary, Union ministry of textiles while speaking at a country session on the second day of Textiles India 2017.
With over 10 months of extreme cold climate in Russia, India can has the potential to cater to this weather through items such as leather jackets, caps, boots, pashmina shawls and various other woolens, which it can export.
Ministers roped in at Textile India to attract investment, boost industry
Related Keywords: attract foreign investment, boost domestic players, develop skills, focus on creating jobs, geo-textile fabrics, growth of natural fibre sector, Indian textile industry, Make in India, modernisation, on the final day of Textiles India, Prime Minister Narendra Modi, roped in to hard sell India, Seven union ministers
Seven union ministers were roped in to hard sell India on the final day of “Textiles India-2017” event, by Prime Minister Narendra Modi to attract foreign investment in the Indian textile industry and to boost domestic players urging them to focus on creating jobs.
Union Ministers M. Venkaiah Naidu, Nitin Gadkari, Ananth Kumar, Nirmala Sitharaman, Radhamohan Singh, Mahesh Sharma and Rajiv Pratap Rudy took part in different sessions at Mahatma Mandir and urged the players to help and support Prime Minister Narendra Modi’s Avision of “Make In India”.
Bangladesh keen to expand relationship in textile sector with India
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The Bangladesh government officials and textile industry stakeholders see a huge potential for synergies between the two countries Bangladesh and India. Bangladesh is among the world’s second largest exporters of apparels, and India is the second largest producer of man-made fibre and textiles fabrics.
According to Gopal Bhattacharyya, additional secretary of Bangladesh's textile ministry, there is a lot of scope for synergies between India and Bangladesh and huge potential to expand the relationship in textile sector.
On day 2 of Textiles India sixty five MoUs signed
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The Ministry of Textiles sector on the second day of the first of its kind mega exhibition Textiles India 2017 as many as 65 MoUs were signed between various domestic and international organisations from the textile industry and government, an official said.
The MoUs were signed in presence of Union Textiles Minister Smriti Irani and Minister of State, Textiles, Ajay Tamta.
Hyosung’s cutting-edge textiles attracted attention at Textile India 2017
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South Korean material supplier Hyosung participated in the Textiles India 2017, an international textile tradeshow held in India for the first time this year, hosted by India’s Ministry of Textiles. Hyosung decided to join the event at the request of Rashmi Verma, vice minister of India’s Ministry of Textiles who visited South Korea in May.
Hyosung had the largest booth for a single company at the event. It showcased a full lineup of its products such as spandex, nylon and polyester threads, automotive and commercial carpets, carbon fiber and aramid.
Local markets saw sharp drop in cotton prices over closure of textile mills
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All Pakistan Textile Mills Association (APTMA) after announcing its decision that they are closing down their textile mills over dull attitude of the government, delay in releasing refunds and higher cost of doing business, the local markets witnessed sharp drop in cotton prices.
The chairman Cotton Ginners Forum, Ahsanulhaq from Rahim Yar Khan said that on the first day of trading session at cotton market, the cotton prices dropped sharply by Rs 300 to Rs 6100 per maund.
Sinomach merges with state textile giant China Hi Tech Group Corp
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China National Machinery Industry Corporation (Sinomach) merges with textile giant China Hi-Tech Group Corporation, The merger between the two groups was approved by China’s state council.
The textile conglomerate has become a wholly-owned subsidiary of Sinomach, an equipment manufacturing group, and will no longer be directly supervised by the State-owned Assets Supervision and Administration Commission (SASAC).
The SASAC has planned to reduce the number of central SOEs to under 100 as part of the ongoing reforms to improve efficiency of the companies.
