The government is setting up exports target at $60 billion for the next financial year (2014-15), a jump of over 30% from the current financial year after having seen the potential and encouraged by the turnaround in the textile exports. Also the concentration on skill development focused on textile sector by the government.
Cotton will be soon applicable for 12.36% service tax on transport and storage, resulting in price rise. Prices of cotton that's ginned and baled likely to rise as their transport and storage have been deemed ineligible for exemption from service tax by the finance ministry, P Chidambaram.
Consumer affairs ministry officials said that they are yet to review the clarification. They are concerned for cotton as it will have a larger impact and they are still working on it with the finance ministry, one of them said.
The value of nearly all wool lifted at last week's combined North and South Island sale, by up to 5% for cross-bred fleece and 7% for lambs' wool, regardless of the negative impact of a stronger New Zealand dollar on export returns.
Limited supplies of New Zealand wool is helping to keep auction prices on the boil at the first sales of the New Year.
The shortage led to the first South Island sale of the year being cancelled.
This week's sale will be another light one, with a bit over 14,000 bales of North and South Island wool rostered for auction.
Pakistan Cotton Ginneries managed to get around 1,28,82,963 cotton bales by January 15th, 2014, an increase of 7.16 percent against the last year figure of 1,20,22,040 bales, as per the fortnightly report on cotton arrivals by Pakistan Cotton Ginners Association (PCGA)
The PCGA chairman Mukhtar Ahmed Khan Baloch said that 1,10,16,89 11.016 cotton bales were sold to the textile units, while exporters were sold 3,38,538 bales. Thus, overall 11.354 million bales were traded so far.
A special brief was give to the Arunachal Pradesh Chief Minister Nabam Tuki and his Meghalaya counterpart Mukul Sangma on the benefits and potential of geo textiles, in the wake of a recent policy initiative by the central government to extend financial support to geo textile based projects to promote ecologically balanced techniques in various sectors ensuring minimum environmental impact.
Both the chief ministers were jointly briefed about on geo textiles based activities in the north eastern states by leading government and industry experts at New Delhi.
Sri Lanka’s textile and apparel industry accounts for nearly half of all its exports, making it one of the top apparel-producing countries. Intertek to support the growing textile and garment industry is all set to open a new apparel and textiles testing laboratory in Bataramulla, Sri Lanka.
To meet the needs of Sri Lanka’s expansive textile and apparel industry, Intertek has established a full-service textile and apparel testing lab that is centrally located to a number of global apparel buyers and manufacturers.
Pakistan has enormous potential for increasing its cotton production, according to Dr Zafar Hayat, senior member, Farmers Associates of Pakistan. Pakistan economy is losing billions of dollars every year due to sluggish production of cotton despite having potential.
He said that there is vast scope for increasing per acre yield of cotton in the country. Experiences of progressive farming have proved that the cotton production in Pakistan can easily be doubled if the impediments in its way are removed.
China out with the policy document late yesterday, is the first official confirmation the policy change will come in 2014, although it does not give more specific details on timing and offers limited information on how subsidies will work. But China, the world's top buyer of raw cotton, will trial direct subsidies for farmers and will scrap its controversial scheme to stockpile the commodities this year, the government said in a policy document.
Two leading groups of industries joined hands to set up a textile technical training institute in the city. The PSG-SIMA Textile Technical Training Institute, the plaque for which was unveiled by union textile minister K Sambasiva Rao today, would offer a two-year programme for spinning technicians, textile mechatronics and weaving technicians, L Gopalakrishnan, Managing Trustee, PSG Institutions said.
Queensland Department of Agriculture Fisheries and Forestry senior research scientist Paul Grundy says the Central Highlands has experienced a number of wetter seasons in the past field, resulting in bowl losses and lower quality harvests and yields. The study aims to rectify this. By using a biodegradable plastic film, growers may be able to plant in August rather than September encouraging the cotton to flower earlier.
