News Tags

Related Keywords: cotton bales, cotton market witnessed an eventless trading session, ginners carryover stock from previous year, KCA, kept mills and spinners on sidelines, Less demand for yarn, low quality of old stocks, meeting demand through imports, not a single transaction finalized, official spot rate unchanged, spinners and exporters

Less demand for yarn and low quality of old stocks, kept mills and spinners most of the time on the sidelines, due to which cotton market witnessed an eventless trading session on Friday. Not a single transaction was finalized on the cotton market.

The Karachi Cotton Association (KCA) left the spot rate unchanged at Rs5,500/maund. The KCA fixed the official spot rate, or base price, for Grade 3 cotton at Rs5,894/maund.

Related Keywords: aiming for an over rise in outbound shipments, demand from China remaining tepid, export target for current fiscal fixed, fell short of official target, India-EU Free Trade Agreement, Indian textile and garment exports, recovery in the developed markets

India’s overall textile and garment exports remained almost flat at $40 billion in the last fiscal, according to a quick estimate said a senior textile ministry official. Still, the exports fell short of the official target of $45-47.5 billion for 2015-16.

Textile minister Santosh Kumar Gangwar on Friday said that the government has fixed the textile and clothing export target at $48.5 billion for the current fiscal, aiming for an over 21% rise in outbound shipments from the actual level of 2015-16.

Related Keywords: bought land from Tata group company Rallis India, IKEA, increase sourcing of cotton from India, lease basis, set up a manufacturing base in India, start retail operations, Swedish furniture company, textile requirements, trains farmers under its better practices

IKEA, the Swedish furniture company, 10 percent of whose global cotton suppliers are from India, plans to increase sourcing of cotton from India for its textile requirements as it gears up to start retail operations there by next year.

The company, which is working with around four lakh farmers in India through local partners under its better cotton initiative (BCI) programme, is sourcing almost one-third of its global requirements from India.

Related Keywords: chemicals, company plans to quintuple to fifteen, cooperative relationships, Japanese Chori Group, lift revenue in its textile trading business, machinery, partnering with more companies, planning to expand into Vietnam, specializing in textiles, strong position as trading company, textile trading in Vietnam, Vietnam good base for exports to US

Japanese Chori Group has established a strong position as ad trading company in Japan specializing in textiles, chemicals and machinery is now planning to enter Vietnam, by partnering with more companies and lift revenue in its textile trading business there 2.5 times to 5 billion yen ($46.7 million) in fiscal 2018.

During fiscal 2017, the company plans to quintuple to 15 the number of companies it has cooperative relationships with for textile trading in Vietnam.

Related Keywords: apparel and garment units in north eastern states, CCI, cotton grower, development of infrastructure, generated employment, handloom brand, handloom sector, MSP, sanctioned twenty four textile parks, Santosh Gangwar, SITP scheme, skilled workforce, Textile Industry, textile ministry performance, textile projects, TUFS, Union Textile Minister

Union Textiles Minister Santosh Gangwar on Friday at a press conference talking about the Textile Ministry’s performance in the past two years said that under the scheme for integrated textile parks (SITP) implemented to stimulate development of infrastructure, 24 new textile parks have been sanctioned in the last two years, facilitating investment of Rs 4,500 crore and generating employment for 66,000 people.

Related Keywords: affect level-playing field for domestic Indian garment manufacturers. agreed to expand ambit of a bilateral MoU, agreed to set up six new border haats, allowed forty six Bangladeshi textile items enter India, Dhakas pleas for lifting countervailing import duty on RMG, India Bangladesh Joint Working Group on trade meeting, turn down by India

The two-day meeting of India-Bangladesh Joint Working Group (JWG) on trade led by Munir Chowdhury, joint secretary of the Bangladesh commerce ministry, and his Indian counterpart Bhupendra Bhalla and their delegations ended yesterday afternoon with both sides agreeing to set up six new border haats along borders with the northeastern Indian states of Meghalaya and Tripura but turned down Dhaka’s pleas for lifting countervailing duty on import of readymade garments.

Related Keywords: Andhra Pradesh state, availability of raw cotton, combined investment, combined production of all spinning mills, factors responsible for investments, fifteen lakh spindles, incentives in form of power subsidies, ITC biggest player, set up nine spinning units, single-desk policy, skilled manpower, spinning industry continues to run smoothly

In Andhra Pradesh state, spinning industry continues to run smoothly and bring cheer to the otherwise gloomy industrial scenario in the district. As of the top ten industries established in the district during 2015-16, nine are spinning/textile units with a combined investment of Rs.14,500 crore. With this, the combined production of all spinning mills is 15.74 lakh spindles during 2015-16. However, ITC Limited remains the biggest player.

Moreover, with cotton produced in 65,000 hectares in the district, spinning and ginning industries have always fetched good returns.

Related Keywords: accessories and services, AISEX, apparel exports increase, Apparel Industry Suppliers Exhibition, focus on wide range of textile machinery, largest apparel machinery exhibition in Sri Lanks, NCE, obtained GSP Plus concession for Sri Lanka, provide garment industry complete solutions, SLAI, SLITA, technological innovations in apparel industry

Apparel Industry Suppliers Exhibition (AISEX) 2016, the largest apparel machinery exhibition in Sri Lanka opens its doors today at BMICH to bring all apparel suppliers and service organizations under one roof. The exhibition will focus on a wide range of textile machinery, accessories and services from many parts of the world.

AISEX aims to sharpen the manufacturers hunger for technological innovations in the apparel industry and they hope to provide the garment industry with the complete solutions necessary to forge ahead.

Related Keywords: coming up in New Delhi, dinning, D’decor, Heimtextil India trade fair, Indian textile and clothing industry, living and home textile segment, Nilkamal, over two hundred fashion foremost companies, present stunning collections, Raymond, Reliance, showcase next season interior decor and home textile collections, Top home fashion players, Welspun

Heimtextil India 2016 trade fair to be held in New Delhi with over 200 fashion-foremost companies from India, Bangladesh, Bulgaria, China, Japan, Korea and Russia will present their stunning collections in dining, living and home textile segments. The announcement of the upcoming event was made German trade fair organizers Messe Frankfurt Trade Fairs’ India arm on Thursday.

Top home fashion players, including D’decor, Raymond, Reliance, Welspun, Nilkamal will also be showcasing their next season’s interior decor and home textile collections at Heimtextil India this month.

Related Keywords: buyer remained caution in making big deals, cotton import by textile sector would go up, cotton trading session, decline in spot rate, grade issue, KCA, made deals for all grades on competitive price, made deals to meet immediate need of lint, Mills in Sindh and Punjab stations, moderate volumes on grade issue of lint

At the cotton trading session, buyer remained cautious in making any big deal as they only made deals according to their immediate need of lint on back of grade issue and in anticipation of decline in spot rate.

Buying remained selective with moderate volumes on grade issue of lint while market’s sentiments were steady with forward trading, traders at the Karachi Cotton Association (KCA) said on Thursday.

KCA kept the spot rate intact at Rs 5,500 per maund in order to provide support to weak stakeholders of raw grade to ward off minimal price level, said floor brokers.