News Tags

Related Keywords: design studio, finance minister Arun Jaitley, incubation centre, infrastructure facilities, knitwear exports, knitwear sector, pre-budget memorandum, Research and Development Centre, Silk Board or Coir Board, skilled labour, TEA, Technical textile, textile business, textile clusters, Tirupur Exporters Association

Tirupur Exporters' Association (TEA) In its pre-budget memorandum submitted to the Finance Minister Arun Jaitley, has urged the Centre to provide adequate infrastructure facilities such as world class design studio, Research and Development Centre and incubation centre for technical textile that will empower successful textile clusters.

These infrastructure facilities will facilitate rapid growth of not only the existing textile business, but also enable its foray into the niche segments creating quantum growth opportunities to the industry

Related Keywords: EU major destination for RMG export from India, expediting work on free trade agreement, in turn impacted currency, Indian textile industry, knitwear exports, rupee devaluation against pound and euro, stand to benefit from Brexit, Tirupur Exporters Association, Tirupur exporters worried about exports of knitwear, UK exit from European Union

UK’s decision to exit from the European Union which in turn impacted the currency, worries exporters from the tiny town of Tirupur as many of the exporters exports around Rs26,000 crore of knitwear. According to A Saktivel, president, Tirupur Exporters Association, it will be temporary but in the long run this will help them since UK will support more which it could not when it was part of the EU.

EU is a major destination for readymade garments (RMG) export from India. In 2015-16, total RMG exports from India was Rs 1,11,236 crore, of which EU's share was 36.97%.

Related Keywords: bedwear exports, cotton fabric, earning, import of synthetic fiber raised, knitwear exports, lower compared to previous fiscal, Pakistan Bureau of Statistics, Pakistan textile and garment exports, synthetic and artificial silk yarn, textile machinery import declinerd, value of textile and apparel exports, witnessed growth

Pakistan textile and garment exports earned has surpassed US$ 10billion mark in the first nine months of fiscal year 2014-15 that began on July 1, 2014. According to the data released by the Pakistan Bureau of Statistics, it has earned US$ 10.207 billion from textile exports. However, the value of textile and apparel exports during the nine-month period was 1.57 per cent lower compared to exports of $9.136 billion in the corresponding period of previous fiscal.

Related Keywords: bottlenecks hampering exports, GSP olus status, implementation of conventions, knitwear exports, Pakistan Hosiery Manufacturers Association, refusing orders, sales tax redund, uncertain energy scenario

About 1200 organized units in Karachi, Lahore, Faisalabad and Sialkot were operating the country and the number has been same for the last 15 years ago. While, the export of knitted garments had shown an ever growing trend over the past many years but inconsistent government policies by successive governments not only increased the cost of doing business but also handicapped the country’s knitwear sector to exploit its real export potential.

Related Keywords: big growth, diverted from Bangladesh and China, exploit overseas orders, facing issues, FTA with europe, higher wages, knitwear exports, labour rights, political auncertainty, Tirupur textile industry, workshop safety

Tirupur, textile city of Tamil Nadu is toady poised for big growth as it looks set to exploit overseas orders that are getting diverted from Bangladesh and China, where the industry is increasingly facing issues related to workshop safety, labour rights, higher wages and political uncertainty.