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Related Keywords: AEPC, an apparel industry body, Apparel Export Promotion Council, capital intensive industry, capital subsidy, during the current fiscal, duty on exports still a worry, enhance duty drawback, expecting around Rupee five thousand crore fresh investments, flow into textile and garment sector, highly labour intensive, textile booster package

Apparel Export Promotion Council (AEPC), an apparel industry body is expecting around Rs 5,000 crore fresh investments to flow into the sector during the current fiscal which may create as many as two million jobs with textile booster package of Rs6,000 crore announced by the government.

AEPC chairman Ashok G Rajani said that based on the initial feedback he has received, around Rs 5,000 crore may flow into the industry in fresh capex this fiscal year itself as government announcement of textile package comes as a game changer.

Related Keywords: borders eight countries, Central Asia and Russia, China-proposed Belt and Road initiative, grown into a trading hub for garments, plans to build Xinjiang into a major textile base, regional economic development, Textile and garment exports has increased, twenty nine national ports, via ports in Xinjiang Uygur Autonomous Region, Xinjiang

The China-proposed Belt and Road initiative and regional economic development, Xinjiang, which borders eight countries and boasts 29 national ports, has grown into a trading hub for garments.

According to the latest statistics released by Urumqi Customs, China has exported 16.57 billion yuan (about 2.5 billion U.S. dollars) worth of textiles and garments through ports in Xinjiang,

Textile and garment exports to Central Asia and Russia via ports in Xinjiang Uygur Autonomous Region have increased by more than 60 percent from the same period last year.

Related Keywords: annula turnover of thirty thousand crore per annum, decide to boycott China, domestic and international markets of textile industry, Handloom exports manufacturers association, India major competitor of China in textile, Member of Haryana chamber of commerce, not supporting India to entry NSG, Panipat become a textile hub, Panipat chapter

Panipat has become a textile hub with an annual turnover of Rs 30,500 crore per annum in domestic and international markets of textile industry. Members of the Haryana Chamber of Commerce and Industry, Panipat chapter, and around 1,200 members associated with the Handloom Exports Manufacturers’ Association (HEMA) have decided to boycott China for not supporting India’s entry to NSG.

The Panipat exporters have decided to boycott the international summit on textile named “ITMA ASIA + CITME 2016” to be held in Shanghai in October.

Related Keywords: association of Woolmark shawls licensees, boost the sector, create Wool Technology Centre, development of new wool processing technologies, encourage research and development, Guru Nanak Dev University, Shawl manufacturers based in Northern region, sought intervention of Textile Ministry, static exports, worried over dwindling domestic sales

The shawl manufacturers based in the Northern region have sought the intervention of Textile Ministry to boost the sector worried over the dwindling domestic sales and static exports. In the last fiscal, the total woollen exports from India were to the tune of Rs 3,136 crore. Out of this, shawls worth Rs 1,000 crore were exported. While, the export of shawls was more or less same as compared to the previous fiscal, domestic sales plummeted by 20-25% on account of shorter winter period. The total domestic market for shawls is estimated between Rs 3,000 crore and Rs 3,500 crore.

Related Keywords: actively considering starting a dialogue with United Kingdom, after Brexit, besides ongoing negotiations for FTA, bring significant benefit, fresh FTAs with fifteen other countries including Japan, Indian commerce ministry, Indian textile sector, Preferential Trade agreement, with trade and economic bloc

The Indian commerce ministry is actively considering starting a dialogue with United Kingdom for a preferential trade agreement, one that brings significant benefit to the country’s textile sector, after United Kingdom deciding to exit the European Union (EU), besides ongoing negotiations for a free trade agreement with that trade and economic bloc, said Union textile secretary Rashmi Verma.

Related Keywords: agreed to introduce a total ban on imports of secondhand clothes, Chinese-run firm C&H Garment, five heads of state in the East African Community, launch products on Rwandan domestic market, mainly from Europe and North America, measure takes effect from July first, promote local manufacturers, Rwanda hikes import duties, secondhand clothes

The five heads of state in the East African Community -- Burundi, Kenya, Rwanda, Tanzania and Uganda, last February agreed to introduce a total ban on imports of secondhand clothes by 2019. But as immediate action to help promote local manufacturers, Rwandan has massively hiked import duties on secondhand clothes and shoes, coming mainly from Europe and North America.

Related Keywords: anticipation of decline in spot rate, buyers made deals on slightly higher price, capitalize maximum returns on proceeds, Dull trading seen at lint market, fine grades on competitive price, KCA, meet immediate need of lint, on back of grade issue, physical price stood firm, spot rate intact

Dull trading was seen at lint market as buyers made deals on slightly higher price according to their immediate need of lint on back of grade issue and in anticipation of decline in spot rate, while physical price stood firm, floor brokers said.

KCA kept the spot rate intact at Rs 5,750 per maund in order to provide support to weak stakeholders of raw grade to ward off minimal price level.

Related Keywords: current fiscal, exploring new markets, falling share of China in textile exports, FTAs, India positive on achieving export mark, meeting of industry body Texprocil, new textile policy, Rashmi Verma, readu to capitalize, Secretary, special package announced to boost exports, taking elaborate marketing plan, Textile, USD fifty billion

With the government announcing a special Rs.6,000 crore package and taking elaborate marketing plans to boost exports. Textile Secretary Rashmi Verma speaking on the sidelines of a meeting of industry body Texprocil held in Mumbai said that they are hopeful of achieving $50 billion mark in exports in the current fiscal as compared to $38 billion exports last year.

The Union Cabinet last week approved special package for the sector with an aim to create one crore new jobs in three years and attract investments of $11 billion while eyeing additional $30 billion in exports.

Related Keywords: begin the week of July, Cecilia Malmstrom, EU favors more liberal rule of origin, executive body of the EU, fabric-forward rule, National Council of Textile Organizations, next round of negotiation, trade commissioner of the European Commission, trade relationship, Transatlantic Trade and Investment Partnership trade deal with US, TTIP

Cecilia Malmstrom, trade commissioner of the European Commission, the executive body of the EU, in a speech at the Atlantic Council here said that the next round of negotiations of Transatlantic Trade and Investment Partnership trade deal (TTIP) with the U.S. will begin the week of July 11 in Brussels despite the turmoil surrounding the U.K.’s vote to leave the European Union.

Related Keywords: denying people access to employment, markets for agricultural products, mobilizing investment, National Assembly making a survey, privatized industries not functioning, processing and manufacturing industries, set up in the areas of textile, Supporting Indian Trade and Investment for Africa, Tanzania government, to serious potential investors

Tanzania government will give privatized industries which are not functioning to serious potential investors. The National Assembly are also making a survey to know if the privatized industries are honouring the contracts awarded when give the factories, failure of which the government will give them to other potential investors, said Mr. Charles Mwijage, the Minister for Industries, Trade and Investment.

Those who have decided to change their use must be prepared to hand them back to the government so that other investors take them for improved productivity, said the minister.