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Related Keywords: China, CITI, Confederation of Indian Textile Industry, cotton, export, fibre, government, Industry, tax, yarn

The export of cotton yarn has dropped 35% in the first quarter of FY20 to $696 million compared to $1.063 billion in the same period last fiscal.

Quoting government sources, the Confederation of Indian Textile Industry (CITI) said that in April the fall was 21% to $266 million compared to $337 million in the same month previous year. May saw a decline of 31% to $241 million against $349 million in May 2018 and June saw a whopping decline of 50% to $188 million compared to $378 million reported in June previous year.

Related Keywords: CITI, cotton textiles, cotton yarn, duty-free access to the Chinese market, fabric and made-ups, textile and apparel products, textile industry body, yarn

Sanjay Jain, chairman, CITI, said in a letter written to the government recently that, "However, the trend has been reversed constantly since then and India is losing business to nations like Vietnam, Indonesia, Pakistan and Cambodia, who enjoy duty-free access to the Chinese market." He educated that Indian products carry 3.5 per cent, 10 per cent and 14 per cent duty on yarn, fabric and made-ups, respectively.

Related Keywords: 16 percent year-on-year, 8 percent in dollar terms, AEPC, apparel by about 14 percent year-on-year, by 7 percent year-on-year, CITI, Indian apparel export, January this year, man-made textiles, ROSL, sharp fall in the exports of cotton textile, witnessed decline by 14 percent in rupee

Indian apparel export in January this year witnessed decline by 14 percent in rupee and 8 percent in dollar terms compared with the year earlier month, as per latest official data. The sharp fall in the exports of cotton textile by 16 percent year-on-year, apparel by about 14 percent year-on-year and man-made textiles by 7 per cent year-on-year contributed to the sub-optimum performance.

Related Keywords: 15 percent, CITI, Confederation of Indian Textile Industry, cotton fabric, fabric and garment producers, FTA nations such as Bangladesh and Sri Lanka, gone up dramatically post GST from July, MMF fabrics, raise import duty on man-made fibre yarn, ring-fence local yarn, threats of cheaper import, urged commerce and textile ministries

The Confederation of Indian Textile Industry (CITI) has urged commerce and textile ministries to raise import duty on man-made fibre (MMF) yarn, cotton fabric and MMF fabrics by 15 percent to ring-fence local yarn, fabric and garment producers from the threats of cheaper import, especially from FTA nations such as Bangladesh and Sri Lanka.

According to data shared by CITI, imports of cotton yarn, man-made yarn and fabric have gone up dramatically post GST from July.

Related Keywords: After implementation of GST, cheaper imports, CITI, effective from October 27, from 10 percent to 20 percent, from countries like China, Global Textile Hub, Government of India, imported polyester fabrics, increased basic Customs duty, significant drop in import duty, SIMA, threatened domestic manufacturing industry

After implementation of the GST, there was a significant drop in the import duty that threatened the survival of the domestic manufacturing industry due to cheaper imports from countries like China. The government of India has increased the basic Customs duty on imported polyester fabrics from 10 percent to 20 percent with effect from October 27, 2017.

Related Keywords: CITI, Confederation of IndianTextile Industry, domestic textile market may grow, Government initiatives, India second fully integrated textile value chain, next only to China, onset of good monsoon, strengthen textile value chain, textile industry is poised to turn Make in India into a reality, towards verticalization of the industry

The onset of good monsoon and Government initiatives, the domestic textile market may grow by 7-8 percent, which was estimated at USD 60 billion in FY17, said Confederation of IndianTextile Industry (CITI) Chairman Naishadh Parikh.

While, the textiles exports, estimated at USD 40 billion, is likely to expand by 5-8 percent this fiscal.

Related Keywords: Bangladesh heavily investing to strengthen textile value chain, CITI, Confederation of Indian Textile Industry, maintain growth for garment export, Make in India initiative, more initiatives are expected to strengthen, provide comfort to buying houses, support textile value chain, welcomed initiative for job creation in garment industry

Confederation of Indian Textile Industry (CITI) has welcomed the initiative for job creation in garment industry and hopes more initiatives are expected to follow to strengthen and support the textile value chain and the make in India initiative.

Related Keywords: basic customs duty, brings diverse reaction from textile sector, certian fabrics for export of garment, CITI, duty free import, excise duty, Indian Texpreneurs Federation, manufacture of garments for exports, SIMA, TEA, Technology Upgradation Fund Scheme, Texprocil, Union budget for textile industry

The Union budget 2016 for the textile industry brings diverse reaction from the textile sector. According to Tirupur Exporters’ Association, president A. Sakthivel, the budget have brought cheer to textile manufacturers in the State as funds have been allocated for Technology Upgradation Fund Scheme and basic customs duty has been exempted for import of specified fabrics (for manufacture of garments for exports) of value equivalent to one percent of FOB value of exports in the preceding financial year, which will give a boost to garment manufacturers in the State.

Related Keywords: better market access to major markets, budget for next financial year, change in labour laws, CITI, Indian textile industry, lowering excise duty on MMF and filament, pitches for incentives, realize untapped potential, reduce the tax burden on MMF, second largest employer, via trade pacts

The textile industry, which is the country's second largest employer after agriculture, contributes nearly 14 per cent to industrial production and 4 per cent to the GDP has pitched for incentives such as lowering excise duty on man-made fibre and filament by half and changes in labour laws in the budget for next financial year.

The textiles industry has demanded better market access to major markets like the US and EU via trade pacts to help realize its untapped potential.

Related Keywords: ATUFS, big relief for textile sector, CITI, dues related to some blackout and leftout cases, Indian governement, initiated process of settlement, invested in those 10 months, RRTUFS

The Indian government initiated the process of settlement of Rs 3,000 crore dues related to some 'blackout and left-out' cases which found no mention in the Amended Technology Upgradation Fund Scheme (ATUFS) which has come as a big relief for textile sector.

Confederation of Indian Textile Industry (CITI) Secretary General Binoy Job said that the quantum of liabilities under the blackout and left-out period cases was around Rs 3,000 crore.