News Tags

Related Keywords: adverse impact on textile exports from India, against US dollar, allowing official currency, become cheaper, coping up with lower demand, global market, Indian textile industry, move by Chinese government, textile imports from China, Yuan to decline

The Indian textile industry is already coping up with lower demands in the global markets. But the move by Chinese government allowing its official currency, Yuan, to decline by about 4% against the US dollar is expected to adverse impact on textile exports from India.

Related Keywords: increase market share, Indian textile industry, Integrated Skill development Scheme, national workshop, need six crore skilled people, Santosh Gangwar, scaleup production, training programmes linked with microfinance, Union Minister of state for textile

Union Minister of State for Textile, Santosh Gangwar addressing a national workshop on Integrated Skill Development Scheme in New Delhi on Thursday said the Indian textile industry needs a total of six crore skilled people by 2022.

Gangwar, underscoring the importance of skill development said that the new government under the leadership of Hon’ble Prime Minister Narendra Modi has brought change in mind set. The Ministry of Skill Development and Entrepreneurship is a step in this direction.

Related Keywords: bleak outlook, Bombay yarn Traders association, decline in world buying capacity for textile, domestic production, dwindling Chinese economy, export potential, Indian textile industry, Indo Rama Synthetics, market crash in China, MEG, multi-year lows, price of raw material, PTA, sharp decline, synthetic yarn, texturised yarn

Export potential for synthetic yarn in the Indian industry is seeing a sharp decline again with the dwindling Chinese economy. The recent market crash in China has a lot to do with bleak outlook of domestic production in almost all sectors including textiles. Units in China have been cutting down production due to decline in the world's buying capacity for textiles. This has resulted in synthetic yarn exports, especially texturised yarn falling steeply, said Jayesh Pathak of Bombay Yarn Traders Association.

Related Keywords: Arvind Ltd, better work environment, CITI, consistent income, garment and fabric section, increase in number of women employees, Indian textile industry, leading textile player, other incentives, skill development training

In the past five years, the Indian textile industry especially garment and fabric sections has witnessed that the number of women employees has increased by 15% and double the rate in Gujarat. According to industry experts, women are attracted to textile industry as it provide them with to better work environment, consistent income and other incentives by employers.

Related Keywords: apparel, Home furnishing sector, improve quality, in apparel sector, Indian textile industry, Made-ups and Home furnishing Sector Skill Council, seek expertise, sign MoUs, upgrade skill of workers, value addition of the products, with two Canadian institutions

Apparel, Made-ups and Home furnishing Sector Skill Council (AHHSSC) with the aim to seek expertise and upgrade the skill of workers in apparel sector in the country is planning to sign Memorandum of Understandings (MoUs) with two Canadian institutions.

The Council aim is to create a huge skills repository in the apparels and home furnishing sector and thereby, improve quality as well as value-addition of the products.

Related Keywords: acceptability of buyers, all time high cotton inventory, CITI, cotton corporation of India, facing shortage, float global tender, Indian textile industry, India’a perennial buyers, procured cotton, test market tenders, Texprocil, under MSP

Cotton Corporation of India (CCI) has procured cotton of around 9.1 million bales under the MSP (minimum support price) operation, all time high cotton inventory this year, surpassing previous record level of 8.9 million bales in 2008-09. CCI is planning to float a global tender. Initially to test the market tenders will be for 5000 - 10,000 bales (1 bale = 170 kgs) by the current month end.

Related Keywords: Confederation of Indian Textile Industry, Cotton Textiles Export Promotion Council, foreign trade policy, ignored cotton yarn sector, Indian textile industry, not address sector specific issue, on FTA, proposal to focus, second largest employment provider, SIMA, tariff reduction, Textile exporters, Textile mills

Textile industry is the second largest employment provider in the country and whose contribution to the country’s growth has been well recognized. But in terms of strengthening the manufacturing base, promoting exports and generating employment, has not got its dues in the Foreign Trade Policy. Textile mills have expressed disappointment over the foreign trade policy announcement as it does not address some of the sector-specific issues. While, Textile exporters feel let down by the new foreign trade policy (FTP), which they said has ignored the cotton yarn sector

Related Keywords: Agriculture Infrastructure Incentive Scrip, focus market scheme, Focus Product Scheme, foreign trade policy, Indian textile industry, Market Linked Focus Product Scheme, MEIS, Merchandise Exports from India Scheme, textile exports, VKGUY

The NDA government’s new Foreign Trade Policy (FTP) 2015-20 was unveiled here on 1 April, focusing on supporting both the manufacturing and services sectors, with a special emphasis on improving the ‘ease of doing business’. The five-year FTP provides a framework for increasing exports of goods and services as well as generation of employment and increasing value addition in the country, in keeping with the “Make in India” vision of Prime Minister Narendra Modi.

Related Keywords: handloom, Indian textile industry, minimum wage, powerloom, SIMA, tailoring, textile and clothing sector, Textile mills, timely review, TN textile industry, weaving

The Textile and clothing sector has around eight schedule employment (under the Minimum Wages Act) such as cotton ginning, pressing and waste cotton industry, handloom and weaving industry, handloom silk weaving industry, hosiery manufactory, powerloom industry, silk twisting industry, tailoring industry and apprentices in textile mills.

Besides this, there are many industrial establishments engaged in the manufacture of knitted and woven garments and made-ups (home furnishings). Some of them cater to both – the domestic and export markets.

Related Keywords: Chinese demand, Chinese policy on import, cotton and cotton yarn, domestic demand, export to other counrtires, increase in stock availability, Indian textile industry, powerloom weavers, Southern India Mills

With a drop in Chinese demand for cotton and cotton yarn during this financial year, stocks available in the domestic market of India have increased. Though the domestic demand continues to be good for yarn and export to other countries is on, there is a fall in prices because of the increase in stock availability.

According to the industry sources, this trend too depends on the variety of cotton yarn. Export demand for cotton and cotton yarn is expected to revive soon as the Chinese policy on import of cotton and cotton yarn will be clear in a month.