Pakistan cotton market witnessed good business with mills and spinners continued buying on expectations of increase in prices in times to come, on Friday. According to Market sources, no major change in the prices seen after the TCP's announcement of procurement price at Rs 6864 per maund to bring stability in the rates
Uzbekistan, the Central Asian country has started focusing on production of finished textile goods rather than of raw cotton. It is slowly trying to transition away from its traditional strength of cotton farming going on for generations. As, cotton farming requires a huge amount of water, a great difficulty for dry Uzbekistan.
Though the Uzbek economic picture has evolved, cotton remains key crop. Last year, the area planted under crops in Uzbekistan totalled almost 3.6m ha for which cotton occupied 1.3m ha, about 36%.
Shipments of yarn machinery to the textile industry in China plunged in 2013 and at the same time, shipments to the industry in Vietnam soared. These trends reflected an apparent shift in the sourcing of textiles and clothing from China to other countries in Asia, and Vietnam in particular, according to a new report from the global business information company Textiles Intelligence – World markets for textile machinery: part 1— yarn manufacture.
Italian textile machinery manufacturers witnessed rise in orders for the third quarter of 2014 compared to the previous quarter, due to the demand from foreign markets.
The rise in orders is limited to foreign markets, where for the period taken into consideration an increase of 9% was reported while the domestic market remains stagnant.
The Institute of Business Administration (IBA) to conduct research study under the regional competitiveness initiative on trade between Pakistan and India in the textile and clothing industry. The research project will be sponsored by All Pakistan Textile Mills Association (Aptma) and the World Bank.
The team consists of prominent economists and experts on the textile sector and from the field of international trade. IBA is conducting this research work in the national interest of Pakistan.
Russian Prime Minister Dmitry Medvedev mulling over improving domestic textile industry for which a meeting will be held on Friday in the Russian city of Ivanovo, known as Russia’s textile capital.
The participants in the meeting will consider the situation in the textile industry and its prospects alongside primary supplies to the textile industry and an impact of illicit manufacture and illegal imports of goods on the industry.
The UAE is the world’s third largest exporter of textiles, after USA and UK, according to study conducted by the Directorate General of Commercial Intelligence and Statistics (DGCI&S), Kolkata.
The UAE exported textiles worth $1623.76 million, representing 7.75% share of the global export market .
Mr. Midhat M. Abu Ghazaleh, CEO, Abughazaleh Trading Company, (ABCO) said that of the total textile global exports of over $ 20939.80 million, the UAE commands a share of 7.75%, which reflects strongly on the development of the country’s textile industry.
Textile and garments worth N300 billion being annually imported into Nigeria without paying duties or taxes. This was revealed by Issa Aremu, the General-Secretary of the National Union of Textile, Garment and Tailoring Workers of Nigeria in llorin, the Kwara State Capital at the 26th National Education Conference of the Union. He is also the vice president of the Nigeria Labour Congress (NLC).
The Punjab-based textile industry, which contributes 70% of the total textile sector of Pakistan, fears that if the sector is not given supply of energy, the textile exports loses will go up to $2.2 billion over the rest of current financial year, said Central Chairman SM Tanveer of All Pakistan Textile Mills Association (Aptma).
Overall textile exports of Pakistan in six months between April and September shows that the country has already lost $1.2 billion on the account of acute energy shortage in Punjab, which is an alarming sign.
Rajasthan textile sector will be provided with the complete matrix of technology, innovation and quality in order to bring it in line with the 'make in India' Campaign of Prime Minister Narendra Modi.
Chief Minister Vasundhara Raje speaking at the inauguration of 'Vastra-2014' further said that these (technology, innovation and quality) are the hallmarks of the campaign and therefore they want to infuse the best in technology and innovation and make them the best in quality as the government was committed to making the state a "one stop and most favoured destination for investment".
