Cotton was traded at Rs.4,200-4,500 a quintal while the MSP was Rs.4,000 a quintal. The Cotton Corporation of India (CCI) is prepared to buy cotton from the market at minimum support price (MSP) if there is a need to do so. An official of the CCI told The Hindu that though it was ready, the Corporation did not expect any requirement of its intervention in the cotton market for MSP operations, except in Andhra Pradesh. Even in Andhra Pradesh, cotton was traded at Rs.4,200-4,500 a qui

India’s garment exports to EU increased 5.9% year-on-year in January-May 2013, whereas those of China and Bangladesh declined Now India’s Apparel exports are rising by snatching orders that would otherwise have gone to the China and Bangladesh. Exports are already up driven by demand coming in from major textile importing countries like US and Euro Zone. For overseas buyers, India has now become a favoured destination over China and Bangladesh. China is currently facing high labour costs w

Export earnings rose 15 percent to $9.62 billion during the July-October period of the current fiscal year compared to the same period last year due to increased shipment of garment products, an official of Export Promotion Bureau said yesterday. Knitwear exports increased 18 percent, while woven garments 17 percent during the period despite some industrial disasters in recent times such as Tazreen Fashions fire and Rana Plaza building collapse, EPB Vice-chairman Shubhashish Bose said. Gar

Leading state-owned textile and garment group Vinatex is scaling up investments into the central region pursuant to the sector’s strategy to relocate factories to localities. The most recent development was Vinatex general director Tran Quang Nghi’s trip to the central region to check the progress of the group’s investment projects in Nghe An province in line with the textile and garment industry development strategy to 2020 focusing on central locations. Over the last two years Vinat

Ethnic textiles in south China once faced extinction due to a sharp decline in the number of masters, but are now making a comeback among young people. The number masters of the traditional textile techniques of the Li ethnic group, has risen to more than 10,000, compared with only about 1,000 in 2009, said Chen Ying, a provincial intangible cultural heritage official in Hainan. Technical training and school education have contributed to the renewed popularity of the art which includes spi

The textile and apparel industries of China and Brazil are complementary to each other, which makes great room for further cooperation and mutual development, Mr. Wang Yu, vice president of China Textile Import & Export Chamber of Commerce, said in his keynote speech at the China-Brazil Textile and Apparel Brand Products Forum held in the Brazilian city of Sao Paulo last month, according to a press release from China’s Ministry of Commerce. China is Brazil’s first largest importing source

Recently, the Ministry of Industry and Information Technology has published the "Guide to the Development of Key and Common Industrial Technology (2013)", defining 261 technologies for 8 major industries including raw materials industry, equipment manufacturing industry, consumer goods industry, electronic manufacturing industry, software & information technology industry, communications and informationization industry and productive service industry will enjoy priority in development. These

Textile exports to the European Union (EU) are expected to surge by up to $1bn a year as the 27-nation bloc granted the much sough-after Generalised System of Preferences (GSP) Plus status to the country, effective from Jan 1, 2014. Though the brighter prospects of raising exports to the EU market after the grant of duty-free and preferential duty rate access on 3,500 products have buoyed the businesspeople – particularly the textile and clothing exporters in Punjab – growing energy shortages

Cotton yarn exports have started moderating, owing to a fall in orders from China and the withdrawal of a few export incentives. This, along with weak demand in the domestic market, has resulted in higher inventory levels. “Export demand has become weak; domestic demand is also very weak. Spinning mills have already started sitting on surplus cotton yarn inventory,” said Vardhaman Group Chairman S P Oswal. However, due to good demand for cotton yarn from China and South American countries

The government’s ambitious plan to achieve a 30% jump in textile and garment exports to $43 billion this fiscal and partly offset the impact of a domestic slowdown may go haywire. A 9.3% appreciation of the rupee since its lowest in August may restrict the pace of textile and garment export growth to a moderate range of 10-15% this fiscal, especially in the absence of any major policy intervention and the withdrawal of an up to 4% incentive on yarn exports in September, senior industry executive