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Related Keywords: Egypt signed deal, Exports of Textile, Home Textiles and Ready Made Garments, Investment minister Ashraf Salman, outdated machinery, restructure textile companies, textile manufacturing sector, US based Werner International, used in state owned companies

Egypt’s once-thriving textile manufacturing sector has weakened over past decades with its outdated machinery from the 1950s used in state-owned companies. Egypt has signed deal with US-based Werner International to restructure 25 state-owned textile companies said Investment minister Ashraf Salman on Thursday.

Ahmed Moustafa, head of the state-owned Holding Company for Textiles said that the restructuring will begin in February and will take 43 weeks to complete.

Related Keywords: cost of yarn and production, green fabric of India, green organic yarn, handspun khadi, Khadi, Khadi competitive, Nano Spinning Mills, Narendra Modi government, new-age charkhas, reduce water consumption, soon become zero carbon footprint, spinning wheels, use solar energy to power charkhas, zerodefect global product, zeroeffect

Khadi to soon become the zero-carbon footprint green fabric of India and a "zeroeffect, zero-defect" global product as Narendra Modi government decides to make use of solar energy to power "charkhas" (spinning wheels) across the country to enable handspun khadi.

Minister of State for Micro, Small and MEDIUM Enterprises (MSME) Giriraj Singh has received the Prime Minister's go-ahead for the project and the field trial of the 'solar charkhas' has already begun on a pilot basis in the Khanwa village of Nawada district in Bihar.

Related Keywords: ATUFS, Centre of Excellence for Industrial Textiles, domestic growth, focus incubation facilities, home textile, investment in technical textils, plug and play facilities, production lines for wet wipes and coir mats, projected to grow 20 percent, sixteen percent subsidy, technical textile industry, Union Minister of state for textile

Under the Amended Technology Upgradation Fund Scheme, 16 percent subsidy for investment in technical textile has been announced by the government as the technical textiles industry is projected to grow at 20 percent year-on-year and the segment’s potential is largely untapped in the country, said Union Minister of State for Textiles Santosh Kumar Gangwar on Thursday.

The Centre of Excellence for Industrial Textiles/Home Textiles at PSG College of Technology would have plug-and-play facilities (focus incubation centre) for potential entrepreneurs in technical textiles, Gangwar said.

Related Keywords: charged three percent, double taxation, dyeing and stitching, five zero-rated sectors, garment can be manufactured, KCCI, levy sales tax on supply, manufacturing of goods, Pakistani Federal Board of Revenue, processing charges, Sales tax, sizing, spinning, supply chain of textile industry, weaving, without ancillary industries

The Pakistani Federal Board of Revenue (FBR) has issued a detailed clarification in response to contentions expressed over double taxation by a Karachi Chamber of Commerce and Industry (KCCI) delegation during its recent meeting with the FBR chairman. It defines that the federal government is authorized to levy sales tax on supply and manufacturing of goods, whereas the power to levy sales tax on services have been vested with provinces.

Related Keywords: abolition of Hank yarn Obligation, cotton spinning, eight garment units, emerging markets, FTA with European Union, garment and textile exports, Indian textile industry, ITF, Make in India textile industry, MMF, operational in north eastern state, rationalize duty on Man Made Fibre, Santosh Gangwar, Strategy for growth, Union Textile Minister

Union Textile Minister Santosh Kumar Gangwar addressing the 'Make in India-Textile Industry- Strategy for Growth' function, organized by Indian Texpreneurs Federation ((ITF) yesterday said that Prime Minister Narendra Modi will be dedicating eight garment units in the north eastern state in a month. Each of which will be set up at a cost of Rs18.18 crore, work for the units is going in full swing and will become operational in another one months time.

Related Keywords: China imports yarn from India, cotton yarn export worth, cotton yarn exports of India, domestic prices of yarn in China, import prices in China, India’s yarn export to Pakistan, spun yarn exports worth, spun yarns demand from Pakistan, spun yarns export from India, yuan depreciation

During December 2015, 88 countries imported spun yarn from India, with China accounting for 27.8 per cent of the total value with imports plunging 32.9 per cent in terms of volume YoY and declining 39.5 per cent in value YoY. India’s overall spun yarn exports in December were down by 11.5 per cent YoY in volume terms and declined 18.8 per cent in value term. Unit price realization was up US cent 1 a kg from November 2015 and down US cents 24 a kg from December 2014.

The Indian yarn industry is currently confronted with a sharp drop of Chinese demand, resulting in excess supply.

In Shengze of Jiangsu, offers for 32s polyester yarn prices were down US cents 2 a kg due to weak Yuan, and those for 45s were down US cent 1 a kg in the first week of January.

Spun polyester yarn market saw offers remain stable and limited deals concluded. Mainstream offers in China for spun polyester yarn 32s and 45s rolled over but were moderate in US$ due to weak Yuan.

Upstream PSF prices were stable early in the week and then weakened slightly reflecting changes on stock market and the overall polyester market.

Related Keywords: Polyester prices, polyester yarn prices, psf prices, spun yarn prices, yarn prices in china, yarn prices in India, yarn prices in Pakistan

Asian PTA markers edged down US$5-7 a ton CFR China and CFR Southeast in the first week of January. CFR India also slipped to US$584 a ton.

In China, sellers were unwilling to sell goods at below US$580 a ton in the second half of the week due to high costs, and buying ideas were maintained at US$550-560 a ton.

Yisheng Petrochemical’s cash-based prices ranged between US$562-579 a ton while Hengli Petrochemical issued self-lifting offers at US$595-610 a ton.

Related Keywords: Polyester prices, pta price in China, pta price in US, PTA prices, purified terephthalic acid prices

Related Keywords: bulletproof jacket, Developed through gel spinning technology, developed UHMWPE yarn, Dongyang MirAcle, excellent UV and chemical resistance properties, fifteen times stronger than a steel wire, industrial fabric, nonwoven fabric, South Korean technical textiles company, strongest in manmade fibers, used in manufacturing of military supplies

Dongyang MirAcle, leading South Korean technical textiles company has successfully developed one of the strongest Ultra High Molecular Weight Polyethylene yarn also called as UHMWPE’ yarn in manmade fibers.

Developed through gel spinning technology, the UHMWPE yarn is said to be 15 times stronger than a steel wire, and has excellent UV and chemical resistance properties. It can be used in extremely harsh conditions as it is resistant to abrasion, which widens its scope of usage.

In India, ASF offers were reduced INR3 to INR126-128 a kg or US$1.89-1.92 a kg.

In China, medium-length staple and cotton-type staple fiber prices were both down US cents 1-2 due to weak Yuan.

Jilin Chemical Fiber maintained its list prices for January with 1.5D at US$2.00 a kg, 3D medium-length at US$2.00 a kg, while tow was at US$2.09 a kg and top at US$2.24 a kg.

Related Keywords: acrylic staple fibre, acrylonitrile prices, ASF prices, asf prices in China, asf prices in India, asf prices in Pakistan