Textile Industry News

An incentive of Rs 64.15billion cash subsidy to the textile and clothing sectors under the Textile Policy will boost exports to $26billion by 2019. The package announced under the Textile Policy (2015-19) carries special duty-drawback rates, duty exemption on plants and machinery, subsidy on … Read more about Incentives Will Help Boost Textile Exports to $26 Billion by 2019

The Prime Minister''s Office has reportedly vetoed the recommendation of the Cabinet Committee on Restructuring (CCoR) for merging the textile ministry with the commerce ministry, it is learnt. The CCoR meeting held on March 27, 2015 and chaired by federal minister for finance Ishaq Dar, had … Read more about Appointment of textile minister likely

Modest Trade Amid Pre-Holidays Session Modest trading was seen on the cotton market on Thursday as main buyers were conspicuous by their absence amid Eid-ul-Fitr holidays session, dealers said. The official spot rate was unchanged at Rs 4700, dealers said. Seed cotton prices in Sindh were at Rs … Read more about Modest Trade Amid Pre-Holidays Session

  the world's top cotton consumer, will auction an initial volume of 1 million tonnes of cotton from its 10 million reserves during July and August, said the country's top economic planner on Tuesday, according to media reports. Beijing will offer 330,000 tonnes of domestic cotton from the … Read more about Massive Chinese Cotton Auction Likely To ShakeUp Market China

Textile and steel are two important sectors in Iran’s Isfahan province where India and Iran can cooperate for mutual economic development, Indian ambassador to Iran DP Srivastava said. The ambassador’s remarks came in a meeting with head of Isfahan Chamber of Commerce. He expressed India's … Read more about India Keen To Cooperate With Iran on Textiles

After successive drops between the period May 5-26, 2015, export parity is underpinning Brazilian cotton prices mainly because of high exchange rate. “In the last week, Brazilian cotton quotes were just 5 per cent above export parity, which had not occurred since mid-March,” CEPEA Brazil said in … Read more about Export Parity Underpinning Brazilian Cotton Prices

Vietnam and Germany will soon establish a joint chamber of commerce to boost trade of both sides to promote and increase business opportunities, especially when the Vietnam-EU Free Trade Agreement is signed, the Vietnam chamber of commerce and industry (VCCI) said on its website. Dr Vu Tien Loc, … Read more about Vietnam, Germany to Set Up Joint Chamber of Commerce

Bangladesh may emerge as an unlikely saviour for the Indian cotton sector that has been left reeling in the face of low Chinese imports. Indian cotton export is expected to fall to a six-year low as China continues to cut imports. According to government estimates, lesser cotton imports by China may … Read more about India Woos Bangladesh As China Cuts Cotton Imports

China’s cotton yarn market, one of the biggest in the world, has been relatively quiet since the country ended its cotton stockpiling policy last year. However, exhibitors at the Yarn Expo Spring show in 2015 had said they have seen signs indicating the market is starting to pick up. KL … Read more about Yarn Expo Exhibitors Expect Chinese Yarn Market to Perk Up

Credit rating agency Crisil has suggested the need for export interest subvention for spinning textile sector, according to media reports. As per the interim report, prepared based on the request of Texpreneurs Forum, a copy of which was presented to the Commerce Minister, Nirmala Sitharaman last … Read more about ‘Spinning sector needs export interest subvention’

Following the hugely successful inaugural event last year in Dresden, Germany, the ITMA Future Materials Awards returns to ITMA 2015 being held in Milan, Italy from November 12-19, 2015. According to a WTIN press release, the industry leading awards recognise innovation and achievement right … Read more about Future Materials Awards returns to ITMA 2015

Two Switzerland produced technical textile products are among the eight winners of the Techtextil Innovation Awards announced on day-1 at Techtextil . The first product to win an award in the ‘New Product’ category is the textile-based ECG belt, a product made in cooperation between the Swiss … Read more about Two Swiss Textile Products Bag Techtextil Innovation Award