Textile Briefs International


1. The largest market for cotton yarn China has imposed around 3.5% import duty on yarn from India under Asia pacific Trade Agreement (APTA), while duty free access is given to Vietnam.

2. China is one of Vietnam’s top five textile export markets.  Vietnam’s imports from China last year included over US$6 billion worth of silk, US$2 billion worth of leather and US$800 million worth of threads.

3. Since that country has the world’s largest population, its market can be extensively segmented offering a great opportunity for local textile products. Vietnam’s textile and garment exports were worth US$31 billion last year.

4. The Russian Ministry of Industry and Trade has announced plans to double the country’s technical fibres production by 2020. To implement these plans, Russia will expand the use of its large reserves of oil and other resources, including timber and other raw materials for the production of synthetics.

5. In order to encourage the industry, the Indian government has several policies, including the Rs 6,000 crore apparel and made-up package, Rs 1,300 crore skill developments and power textile scheme, which has eight components including up-gradation of power looms with government support of 50% among others.

6. China is exploiting and entering the Indian market at cheap price by routing its yarn and finished fabrics through Bangladesh route giving a difficult time to the textile industries at home, said Punjab Pradesh Beopar Mandal President PL Seth.

7. Uzbekistan is now ready to take its textiles manufacturing capabilities to the next stage by investing in latest-technology for downstream processes of fabric manufacture, finishing and making-up.

8. The Asian Development Bank has signed an agreement with Bangladesh’s Eastern Bank for a US$ 20 million loan to support the country’s textile and garment sectors.

9. Indian Yarn dealer Rajesh Surana said that new taxation system has definitely impacted the textile business, but it has helped us to introduce new payment norms as well. However, the trade is going to face major difficulties when the national e-way bill is implemented from April 1, 2018.

10. According to textile industry body CITI, textile and garment exports are likely to miss the US$ 45 billion target for 2017-18, as the industry reels under the impact of GST roll out and tariff advantages enjoyed by competitors like Bangladesh and Vietnam. At best, we will come close to US$ 40 billion.

 

 
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