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.
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.
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$31 billion last year.
The Russian Ministry of Industry and Trade has announced plans
to double the country’s technical fibres production by 2020. To
implement these plans, Russia will expand the use of its large
reserves of oil and other resources, including timber and other
raw materials for the production of synthetics.
In order to encourage the industry, the Indian government has
several policies, including the Rs 6,000 crore apparel and
made-up package, Rs 1,300 crore skill developments and power
textile scheme, which has eight components including
up-gradation of power looms with government support of 50% among
China is exploiting and entering the Indian market at cheap
price by routing its yarn and finished fabrics through
Bangladesh route giving a difficult time to the textile
industries at home, said Punjab Pradesh Beopar Mandal President
Uzbekistan is now ready to take its textiles manufacturing
capabilities to the next stage by investing in latest-technology
for downstream processes of fabric manufacture, finishing and
The Asian Development Bank has signed an agreement with
Bangladesh’s Eastern Bank for a US$ 20 million loan to support
the country’s textile and garment sectors.
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.
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.