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Related Keywords: appealed to abstain from purchasing fresh stock grey fabrics, biggest MMF wholesale market, demanding uniform GST structure, formed by a sector of traders, leader of trading community in Surat, registering under GST, the entire textile value chain, under leadership of Tarachand Kasat, VSS, Vyapari Sangarsh Samiti

Vyapari Sangarsh Samiti (VSS), formed on Saturady by a sector of traders under the leadership of Tarachand Kasat, leader of the trading community in Surat, the country’s biggest man-made fabric (MMF) wholesale market, has appealed to the traders to abstain from purchasing fresh stock grey fabrics and registering under GST to oppose the central government’s failure in providing relief under GST to them, despite GST Council accepting the demand to bring down GST rates on textile job work from 18 percent to 5 percent.

Related Keywords: aloe vera fabric, banana fibre fabric, Brocade, CushionKari, D’decor, fabric waste shredded, Fabrics of India, furnishing fabrics, Heimtextil India, home fashion business in India, home textiles, interior décor segment, knit waste, mixed Embroideries, Morr, textile fabrics, textile masterpieces, Textile trade show, textiles and home furnishings, world’s largest cushion

With an aim to draw attention to India’s dominant position in textiles and home furnishings, Messe Frankfurt Trade Fairs India is set to create the world’s largest cushion at Heimtextil India this year. At 20 feet tall, this textile masterpiece, representing the ‘Fabrics and Embroideries of India’ is expected to create a record for the largest cushion in the world. The cushion will be on display at India’s leading home fashion business platforms – Heimtextil India and Ambiente India from 20th – 22nd June at Pragati Maidan trade grounds in New Delhi.

In China, FDY70D/24F SD prices rose US cents 4-7 a kg in the last week of May, while FDY40D gained US cents 8 a kg on the week. Monofilament 30D prices firmed were flat while nylon staple fiber 1.5D prices were stable during the week.

Related Keywords: caprolactum price, nylon chips prices, nylon filament yarn prices, Nylon prices, nylon prices in China

In China, spot liquid good offers were up US$30-55 a ton in the last week of May. Caprolactum prices firmed up on the back of range‐bound benzene and tight supply, as markets welcomed some price recoveries. In China, offers for liquid goods in spot market were hiked significantly while discussions firmed up. In contract, Sinopec and Fibrant raised their June contract nominations.

Demand rose slightly with run rates of polymerization units up at 73% and inventory level down to 3 days’ worth. Yarn makers were running steady at 71% with inventory at 25‐30 days’ worth.

Related Keywords: benzene prices, caprolactum price, caprolactum price in China, Nylon prices

Related Keywords: awarded a major contract to supply an olefin plant, by PJSC Nizhnekamskneftekhim, capacity to produce ethylene, design, Linde Group, Linde responsible for licensing, material procurement, member of TAIF Group, Naphtha cracker, NKNK, other chemical products, plant in Nizhnekamsk, technical engineering consulting

Linde Group awarded a major contract to supply an olefin plant by PJSC Nizhnekamskneftekhim (NKNK), a member of the TAIF Group. As part of this major contract, Linde is responsible for licensing, design, material procurement and technical engineering consulting for the plant in Nizhnekamsk, located in the Republic of Tatarstan, Russia.

NKNK’s new olefin complex will be built in Nizhnekamsk, Tatarstan. In the first expansion stage, it will have the capacity to produce 600 000 tpy of ethylene and over 600 000 tpy of other chemical products.

Related Keywords: after BP, eleven percent of global production, emerged the world second largest producer of paraxylene, main feedstock for paraxylene is heavy naphtha, more than doubling the plants capacity, PX complex at Jamnagar, Reliance Industries, successful commissioning of the last crystallisation train

Reliance Industries has emerged the world's second largest producer of paraxylene after BP, with an annual capacity of 2.2 million tonnes or about 11 per cent of global production after the successful commissioning of the last crystallisation train (Train 3) of the paraxylene (PX) complex at Jamnagar, Gujarat, more than doubling the plant's capacity.

The plant is built with state-of-the-art crystallisation technology from BP, and is also highly energy efficient, RIL said.

Related Keywords: assist and advice exporters, constituted a GST facilitation cell, DGFT, Directorate general of Foreign Trade, functioning under ministry of commerce and industry, present tax regime to GST regime, smooth transition, trade and industry, with effect from July

Directorate General of Foreign Trade (DGFT), functioning under the ministry of commerce and industry, Government of India, has constituted a Goods and Services Tax (GST) facilitation cell to assist and advice exporters, trade and industry for smooth transition from present tax regime to GST regime with effect from July 1, 2017.

Related Keywords: a remission scheme, announced by Textile Ministry, for exporters, import additional duty drawback scheme, offset state levies, readjust duty drawbacks in the new GST regime, Rebate of State Levies on Export of Garments scheme, ROSL, seeking industry feedback, Union government

The Union government to readjust the duty drawbacks in the new Goods and Services Tax regime is seeking industry feedback on it. The ROSL (Rebate of State Levies on Export of Garments) scheme is a remission scheme to offset state levies is an import additional duty drawback scheme announced by the Textile Ministry for exporters in late 2016.

Exporters remained wary about the duty drawbacks in the GST era as clarity over continuation or in which form remained a grey area till now. But they are continuing to book orders presuming it will continue.

Related Keywords: as GST subsumes all taxes including protections, become five to six percent cheaper, Garment imports, Goods and Services Tax, locally made apparel, providing input credits, removal of the special additional duty, SAD, Textile Industry

Garment imports likely to become five to six percent cheaper than locally made apparel despite the goods and services tax providing input credits to the textile industry due to removal of the special additional duty (SAD), as GST subsumes all taxes including protections.

Apparel imports are subject to a countervailing duty (CVD) of six percent on cotton and 12.5 percent on polyester, which importers receive as a central value added tax credit. The CVD is optional at a flat two percent if the importer does not claim a set-off against input costs.

Related Keywords: aims to achieve USD three hundred billion, create an additional thirty five million jobs, forthcoming Textiles India, in the next three months, likely to be finalised, new textile policy, output from foreign players, trying to incorporate international response, worth of textile exports

The new textile policy which is likely to be finalised in the next three months, aims to achieve $300 billion (over Rs 20 lakh crore) worth of textile exports by 2024-25 and create an additional 35 million jobs, a senior official said.

The draft textile policy that was finalized after consultation with stakeholders, they are now trying to incorporate international response and output from foreign players at the forthcoming Textiles India-2017 conference, which will serve as input to the new textile policy, said Textiles Secretary Anant Kumar Singh at an CII event held in Mumbai.