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Related Keywords: export earnings, Integrated Scheme for Development of Silk Industry, Make in India, Ministry of textile, textile sector

Cabinet headed by PM Narendra Modi had approved Integrated Scheme for Development of Silk Industry earlier which will benefit the silk industry of the country. The Ministry of Textile has made a heartfelt request to all ministries, departments and public sector undertakings to buy their fabric requirements from the local artisans in the country. The request has been made to give “purchase preference” to the local products under the “Make in India” scheme.

Related Keywords: aimed at significantly uplifting Indian textile industry, all over the world, contributes to manufacturing production, employs millions of people directly, export earnings, fifteen thousand participants, Gdp, India's first mega trade event, promote India as top global destination for textiles, tapping investor and manufacturer, Textiles 2017

Textiles 2017, to be India's first mega trade event in the sector with 15,000 participants from all over the world. It is aimed at significantly uplifting India's textile industry, which employs more than 45 million people directly, contributes to 10% of manufacturing production, 2% of India's GDP and 13% of the country's export earnings.

The event will be inaugurated by PM Narendra Modi in Gandhinagar on 30 June to convey the importance given to the textile industry which has tremendous job generation potential.

Related Keywords: accounts industrial output, export earnings, export of readymade garments and made-ups, increase dependency on US markets, Indian textile and clothing sector, post-Brexit turmoil in Europe, provides livelihood support, the US most important export market, TPP hurt Indian trade, Transpacific Partnership Pact, Yarn forward rule

Textile and clothing sector accounts for roughly 5 percent of India’s GDP, 15 percent of its industrial output and export earnings and provides livelihood support to 55-60 million people directly or indirectly. With India not a party to the Transpacific Partnership Pact (TPP) comprising Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam, and the US. TPP will hurt India’s trade with its most important export market — the US.

Related Keywords: export earnings, launched National CTG policy, Minister of Industry, Nigerian federal government, Nigerian made textiles and garments, NIRP, reinstate textile sub sector, rise employment, trade and investment

The Federal Government launched the National Cotton, Textile and Garment Policy in Abuja, the Minister of Industry, Trade and investment, Mr. Olusegun Aganga speaking during the launch of National CTG stated that the policy is a major component of the Nigeria Industrial Revolution Plan (NIRP) aimed at reinstating the textile sub-sector.

Related Keywords: apparel export, China yarn import, cotton yarn export, export earnings, garment export, polyester yarn export, Spun yarn export, textile exports

A weaker rupee and steady demand from China and US had helped the textiles exports in the past year. From April, demand for raw material like yarn from China has fallen dramatically and inventory levels have risen. Further, falling cotton ribre prices have been asserting pressure on yarn pricing and cutting unit value realisation, although rupee continues to remain weak.

Spun Yarn Exports Plunge