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Related Keywords: continuation of interest subvention scheme, export target set, for current fiscal year, handicrafts and garments, Handlooms, India-EU Free Trade Agreement, Indian textile sector, outbound shipment, stiff competition, textile minister Santosh Gangwar

The achhe din for the textile sector has started to arrive, said textile minister Santosh Kumar Gangwar on Monday, as the Narendra Modi govenrment completes one year. The government has set target of $47.5 billion for textile and clothing exports for the current fiscal year, aiming for an almost 14% rise in outbound shipments from the actual level of 2014-15.

Related Keywords: comprehensive Handloom Development Scheme, domestic and international market. assist procurement, empower handloom weavers, enhance competitiveness, first project sanctioned for Jammu and Kashmir, Handloom Cluster Development Project, handloom industry, marketing, National Handloom Development Programme, production, uplift economic condition

Minister for Industries and Commerce, Chander Parkash inaugurated a Handloom Cluster Development Project. The project, which has been taken up under the comprehensive Handloom Development Scheme of National Handloom Development Programme, Ministry of Textiles, Government of India

Minster for Industries & Commerce said that this is first such project for J&K, sanctioned by the, Ministry of Textiles, Government of India to empower handloom weavers and build their capacity to enhance competitiveness of their products in the domestic and international market.

Related Keywords: Bombay Dyeing & Manufacturing Co. Ltd., home furnishings, kids wear, leisure clothing, no impact on existing retail business, Oasis Procon Pvt. Ltd. divest textiles processing unit, offers linens, situated at Rajangaon, towels, Wadia group of textile firm

Wadia group’s textile firm Bombay Dyeing & Manufacturing Company Ltd (BDMC) has received approval from its board of directors at the meeting held on 25 May to sell/dispose off its textiles processing unit situated at Ranjangaon in Maharashtra, to Delhi based Oasis Procon, a textile manufacturer established in 2004 together with all specified tangible and intangible assets in relation the the undertaking (excluding its brand name and specific liabilities) for Rs 230 crore ($36.2 million), according to a stock market disclosure.

Related Keywords: Belarus imports include textile, Business leaders, enhance bilateral trade, major exports synthetic fiber, manufacture goods from Belarusian flax, organized by Board of Investment, Pak Belarus business forum, Pakistani cotton., set up a joint enterprise, signed twelve contracts

Business leaders of Pakistan and Belarus after meetings at the Pak-Belarus business forum organized by the Board of Investment have signed 12 contracts worth $42 million on Monday.

The Belarus delegation was led by Minister for Industries Vitaly Vovk, representatives of 36 companies from Belarus working in the fields of farm machinery, agricultural inputs, engineering, oil refining, medicine, chemicals, light industry, minerals and gems and jewellery took part in the forum.

Related Keywords: carpets, create additional jobs, fall short of target set, handicraft, include garments in subvention scheme, Indian textile export, New national textiles policy, readymade garments, roadmap for textile industry, silk, small increase in overseas sales, wool and woolen textile

India’s textile exports stood at 41.4 billion, shortfall of 3.6bn from the target set of 45 billion for 2014-15. There was a small increase in the overseas sales of handicrafts (17 percent), carpets (15 percent), readymade garments (12 percent), silk (13 percent), and wool and woolen textiles (18 percent), said an official statement.

For the current fiscal, Textiles Ministry has set an exports target of USD 47.5 billion, Textiles Secretary S K Panda said while addressing a press conference.

Asian viscose fibre markets witnessed strong downward pressure from both expanding supplies and season lull in downstream textile industry. Thus prices softened partially. In China, bearish stance prevailed in VSF market, given the restarts of Xinjiang Shunquan’s and Aoyang’s units, as well as the upcoming startup of Yibin Grace’s new unit. Downstream yarn makers bought with caution, either digesting their stocks or sourcing low-priced goods. Prices were down in China while they rolled over in India and Pakistan.

Related Keywords: hardwood pulp price, rayon prices, softwood pulp price, Viscose fibre price, viscose filament yarn prices, Viscose prices

Propylene prices fell for the fifth consecutive week in Asian markets losing almost US$75 over the period. The buy-sell gap widened as buying indications were lower than selling ideas at over US$1,000 a ton. In US, spot chemical grade propylene price dropped to a 6-year low as inventories approached 40-month high. Supply snags continued to pressure European propylene prices as unusual number of outages tightened supply. Asian propylene markers were down US$25-34 a ton FOB Korea week on week.

Related Keywords: ACN price, Acrylic fiber price, acylonitrile price, ASF price, propylene price

Related Keywords: batik market, disburse fund, first phase of reconstruction, Indonesian government, Klewer market, largest textile products, reconstruction, state budget

Klewer, the largest textile products and batik market in Solo Indonesia which caught fire on December 27, 2014, its overall reconstruction is estimated to cost to the tune of Rp159 billion.

The Indonesian government has so far disbursed Rp61.8 billion in funds taken from the revised 2015 state budget to revitalize the market after it caught fire on December 27 last year. It will disburse another Rp97.2 billion in funds through the 2016 state budget to complete the construction of Klewer market.

Related Keywords: Arvind Ltd, better work environment, CITI, consistent income, garment and fabric section, increase in number of women employees, Indian textile industry, leading textile player, other incentives, skill development training

In the past five years, the Indian textile industry especially garment and fabric sections has witnessed that the number of women employees has increased by 15% and double the rate in Gujarat. According to industry experts, women are attracted to textile industry as it provide them with to better work environment, consistent income and other incentives by employers.

Related Keywords: demand relaxation of Canotage law, done through three modes, Eight textile industry association, from Gujarat to Tamil Nadu, help cut costs, rail, road and water, transit of the cotton, transporting cotton

Eight textile industry associations demands relaxation of the Canotage law to help cut costs in transporting cotton from Gujarat to Tamil Nadu as doing away with the law would help save hundreds of crores of rupees.

According to the textile industries association almost 50% of the cotton used for textile manufacturing in Tamil Nadu is purchased from Gujarat. And, the transit of the cotton is done through three modes; rail, road and water.