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Related Keywords: cotton bales, forward buying, mills and spinners busy, official spot rate, Pakistan cotton market, price of lint quality, price remain firm, Punjab, seed cotton price in Sindhi

With both mills and spinners busy in the forward buying, prices showed firmness on the cotton market on Monday, dealers said. The official spot rate maintained week-end levels at Rs 4,600, while seed cotton prices in Sindh were at Rs 2300 and Rs 2450 and in Punjab rates were at Rs 2200 and Rs 2350.

In the ready business, around 17,000 bales of cotton changed hands between Rs 4625 and Rs 4700, dealers said.

In China, semi-dull FDY70D/24F prices were down US cents 5 a kg in the last week of August while FDY40D fell US cents 8 a kg. Nylon DTY 70D/24F prices declined US cents 5 a kg while DTY 30D/10F was down US cents 8 a kg. Monofilament 30D tumbled US cents 26 a kg on the week while staple fiber 1.5D fell US cents 4 a kg.

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

Related Keywords: abolish VAT, around three hundred small and big manufacturer, during State Budget, Gujarat governement, imposed VAT on narrow fabrics, manufactured mainly in Surat and Ahmedabad, representation made by industry association, SGTPA, used in apparel industries

The Gujarat government had imposed 5% VAT on narrow fabrics during the State Budget in February-2015 which is manufactured mainly in two big centres, Surat man-made fabric (MMF) hub and Ahmedabad. In Surat alone, there are aound 300 small and bigh manufacturers of narrow fabrics. Following representation made by the industry association on Monday, the Gujarat government likely to abolish the 5% value-added tax (VAT) on narrow fabrics manufactured in Gujarat.

Related Keywords: Bangladesh readymade garment, BGMEA, BTMA, China concentrating on high value garment, depend on REB, government help to achieve, knitwear sector, set goal to reach, USD fifty billion exports, value addition in the RMG

The burgeoning Bangladesh readymade garment and knitwear sector has set a goal to reach $50 billion export by 2021. While this appears quite a daunting task, but industry sources claim it is doable provided the government and its concerned ministries make determined efforts to help achieve it as textile manufacturing sector and readymade garment industry (also the knitwear segment) are in fact inseparable and rolled into one.

Related Keywords: appeal to TN government, cess on sales of cotton, cotton waste, cotton yarn and synthetic yarn from five percent to two percent, export incentives, reduce VAT on cotton, SISPA, South India Spinners Association

South India Spinners Association (SISPA) has appealed to the Tamil Nadu government to reduce VAT on cotton, cotton yarn and synthetic yarn from 5 percent to 2 percent, abolish the one percent cess on sale of cotton and cotton waste and facilitate marine discharge by establishing processing centres in costal areas for cost effective processing of yarn, fabrics and finishing goods, to make the state's spinning industry viable, when sold within or in other states.

In the last week of August, spot offer for liquid goods in China were down US$15-30 a ton and discussions were down US$30-45 a ton. Asian markers, the SE and FE declined US$80 a ton. Sinopec lowered its settlement for August which was down US$25 a ton from nomination for liquid while DSM Nanjing’s August price was down US$220 a ton from nomination for solid goods.

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

Related Keywords: additional capacity for both nylon and polyester production, create new jobs, expand its carpet fibre plant operations, innovative design, investment of US forty five million, largest carpet and floor covering provider, provide a diverse product mix, Shaw Industries Group, subsidiary of Berkshire Hathaway

Shaw Industries Group, a subsidiary of Berkshire Hathaway, Inc., is the world's largest carpet and floor covering provider, plans to expand its carpet fibre plant operations for additional capacity for both nylon and polyester production with an investment of atleast US 45 million in Lexington County, South Carolina.

Related Keywords: American dollar, cotton exports, Global textile market, Indian cotton, Indian textile exports, rupee depreciation, yuan devaluation

The rupee fell by 36 paise (0.5 per cent) to close at a two-year low of 66.82 against the American dollar on Monday on firm dollar demand from banks and importers and volatile domestic equities. The Indian currency has depreciated about 7 percent since April.

The depreciation of the rupee would have ambiguous impact on Indian textile industry. Fall in rupee will possibly benefit the Indian textile exporters as China could further devalue its currency to increase competition.

Related Keywords: after the US, competition from China to increase, depreciation of rupee, fabric industry, improve export competitiveness, India second largest cotton exporter, Indian domestic cotton, mixed impact

India is the world’s second largest cotton exporter after the US, the recent depreciation of the rupee may to improve the export competitiveness of Indian domestic cotton. But according to investment information and credit rating agency, ICRA the rupee depreciation is expected to have a mixed impact on India's textile exports as competition will increase from China following devaluation of its currency. Since April, Indian currency has depreciated about 7 percent.

Related Keywords: agrochemicals, begin at Gandhinagar Gujarat, build new networks, buyer and seller meet, chemical technology, dyes and Colorants, fabrics, Garments, home textiles, India Chem Gujarat, leading chemical manufacturers, manufacturers of fibre, mega event with focus on Speciality and fine chemical, profitable medium, textile processing units, yarn

After the overwhelming success at the last edition of India Chem Gujarat 2013 and the participants benefiting by the enthusiastic business response. The 4th edition of mega event INDIA CHEM GUJARAT with focus on Speciality & Fine Chemical, Agrochemicals, Dyes & Colorants and Chemical Technology to kick off next month at Gandhinagar, Gujarat.

The event is jointly organized by Department of Chemicals and Petrochemicals , Govt. of India, along with Government of Gujarat, iNDEXTb and Federation of Indian Chamber of Commerce and Industry(FICCI).