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Related Keywords: cannot achieve without reducing cost of production, cotton bales, Cotton market, export target, ginners have only two million bales of unsold stock, official spot rate up, on dwindling stock, PRGMEA, ready business, witnessed fresh buying interest by spinners and mills

Cotton market witnessed fresh buying interest by spinners and mills on Tuesday as the ginners have only two million bales of unsold stock, dealers said. In the ready business, around 5000 bales of cotton changed hands between Rs 4200-5800.

However, the official spot rate was down by Rs 50 to Rs 5,600 while in the Punjab, prices showed no change at Rs 3100 and Rs 3400, dealers said.

Related Keywords: export target, formulate mechanism of FTAs, hospitals and retailers show interest in home textiles, hotels, Institutions, Texpo exhibition successful experiment, through Texpo exhibition, towel exporters expect fresh export orders, Towel industry opted latest technique in production, Towel Manufacturers Association of Pakistan, zero rating

Towel Manufacturers Association of Pakistan Chairman Farrukh Maqbool said that TEXPO-2016 was a successful experiment as Institutions, hotels, hospitals and retailers have shown more interest in home textiles. The towel exporters are expecting fresh export orders worth more than 10 million dollars through TEXPO exhibition.

Towel industry had opted latest technique in production of towels. But due to blockade of huge refunds, the industry was facing financial crunch. Had funds were released to exporters, the export of towel could reach to 2 billion dollars within a year.

Related Keywords: Australia and Canada, biased import duties on Indian textiles, conclusion of FTAs with EU, decline in export of cotton textile, export target, gain market access, MEIS, negative growth registered, preferential access, remove trade barriers, Texprocil, urgent action from government, world market

The export target for 2015-2016 is USD 13.67 billion. The continuing decline in exports of cotton textiles is a matter of deep disappointment and concern requiring urgent action from the government, Cotton Textiles Export Promotion Council (Texprocil) chairman RK Dalmia said in a statement.

Exports of cotton textiles in August 2015 registered a negative growth of 7.39 percent as exports touched USD 863.18 million as against USD 932.02 million in August 2014. Texprocil sought government's support to boost exports

Related Keywords: coir, Confederation of the Indian Textile Industry, export incentives, export of fibre crashed, export target, fall short of expansion rate, handicrafts and handloom items, include jute, Indian textile and garment exports, miss initial official growth target, raw cotton

India’s overall textile and garment exports that also include those of jute, coir, handicrafts and handloom items to not only miss the initial official growth target of 15% for 2014-15 but fall short of the 5% expansion rate expected until recently. The government had initially set the export target at $45 billion for 2014-15, compared with the actual exports of $39.3 billion in the previous fiscal.

Related Keywords: Export development fund, export target, facilitate exporters with business friendly environment, failed to benefit economy, GSP facility, Pakistan textile sector, TDAP

Pakistani textile sector has benefited due to the GSP facility but has failed to benefit the country’s economy as the government has failed to facilitate exporters with business-friendly environment due to which Pakistan likely to miss its export target of $27 billion.

According to the Pakistan Economy Watch (PEW) report, President Dr Murtaza Mughal said that Federal Board of Revenue (FBR) could not pay original refunds of around Rs100 billion, while fake refund claims are being processed immediately.

Related Keywords: Bangladeshi readymade garment sector, BGMEA, BKMEA, BTMA, cancellation of orders, delay in shipment, export target, extra burden of air freight, incur loss, non stop political unrest

The Bangladeshi readymade garment sector has incurred huge vandalism caused by the non-stop political unrest beginning from January 6. In the last 35 days the RMG sector has incurred a loss of Tk21,711 crore due to cancellation of orders, extra-burden of air freights and delays in shipments.

According to the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) estimate, the apparel sector faced the order cancellations worth Tk10,000 crore while it had to spend additional money of over Tk918 crore for air shipments.

Related Keywords: energy crisis, export target, long term initiative, Ministry of Textile Industry, new textile policy, Pakistan textile industry, Pakistan textile policy 2009-14, short term support action, Textile production, value addition, yarn production

The Pakistan Textile Policy 2009-14 has failed bleakly to achieve its target of doubling exports of the country’s textile industry. The plan comprised short-term support actions and long-term initiatives aimed at promoting value addition on a wider scale.

When the policy was unveiled, textile exports were touching $12 billion in 2009-10. Fast forward to 2012-13, the figure went up slightly at around $13 billion. However, the shipments were nowhere near the target of $25 billion.

The textile industry has an 8% share in the gross domestic product (GDP) of the country.

Related Keywords: duty free import, export target, Interest Subvention Scheme, Ministry of Textiles, same as last year, schemes under Foreign Trade Policy, textile product

The Ministry of Textiles has fixed an export target of USD 45 billion for textile products for the current year 2014-15, after discussion with the Industry. In fact, there is absolutely no change done in the target from last year’s, which was set at USD 45 billion for textile product.
 
The set target was informed by the Minister of State (Independent Charge) in the Ministry of Commerce & Industry, Nirmala Sitharaman in a written reply in Lok Sabha on Friday.
 

Related Keywords: domestic textile industry, export target, home textile, infrastructure, skilled manpower, technical textile industry, Textile Industry, TUFS

The textile industry occupies a unique place in India and with the textile industry setting target of USD 50 billion exports this financial year. Technology upgradation, better infrastructure and skilled manpower are a must to achieve the set target.