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Related Keywords: export oriented textile company, Pakistan textile sector, textile export

The Pakistani textile sector after performing well in the first half of the fiscal year with the appreciation in rupee by almost 6 percent against dollar in the third quarter of FY14 (Jan-Mar 2014), led to significant drop in profits of the export-oriented textile companies by 73 percent only in the third quarter of FY14.

This significant drop in profitability in the last quarter eroded the overall earnings of the textile sector for nine months. Textile sector recorded a decline of 9 percent in earnings during the nine months (July-March) of FY14.

Related Keywords: Pakistan Textile Ministry, Textile, textile export, Textile Industry, value addition

The Pakistan textile ministry to attract investments into the industry is working on a special package to convert basic textile into value addition. Also every effort are being put in to declare the upcoming fiscal year 2014-15 as the year of textile industry in Pakistan as they stand firm on increasing textile exports by twofold to $ 26 billion by 2018.

Related Keywords: Indian textile industry, textile export

Indian textiles and clothing industry is one of the largest contributors to the country’s exports. Textile exports have shown steady growth over the last few years and are likely to grow by more than 15% during the FY15.

Related Keywords: Indian export performance, textile export, Textile production

Indian export performance in 2013-14, sees tremendous rebound in textile exports to other products like crude oil, petroleum products and gems and jewellery. Not only exports but India’s textile production increased 4.6 percent in April-February 2013-14 even as the index of industrial production dropped by 0.1 per cent.

Related Keywords: cotton yarn import, ECC, Pakistan textile industry, textile export

The Economic Coordination Committee (ECC) of the Cabinet, which met under the Chairmanship of the Federal Minister for Finance Mohammad Ishaq Dar last week, has decided to withdraw SRO 15(I)/2010, which exempted cotton yarn import from custom duty of 5 percent, in order to check import of cotton yarn.

The value added textile, which contributes around 80 percent to Pakistan’s overall textile exports, has expressed disappointment on the withdrawal of the duty exemption on cotton yarn import as it would negatively affect the export of value-added textiles from Pakistan.

Related Keywords: Chinese yuan, cotton export, cotton import in china, Indian rupee, textile export, yarn export

Export of textiles and other goods may be adversely affected if the Chinese currency Yuan continues to depreciate. Year to date, the Yuan has fallen 4.9 per cent against the INR and is predicted to fall further if the current slowdown in China deepens and shadow banking crisis and the defaults worsen.

Related Keywords: textile export, Vietnam textile and garment industry

The Vietnam textile and garment industry firms have started large projects to expand their production and receive new business opportunities this year. So far, many enterprises have signed export contracts to be completed by the third quarter of this year, the Ministry of Industry and Trade said.

It export value in the first two months of 2014 reached US$3.2 billion a year-on-year increase of 30.1 per cent.

Many Vietnam textile firms have signed export contract and also invested in their production line this year.

Related Keywords: Industrial park, textile export

Pakistan government is working out all measures to take complete advantage of the GSP plus status given to them by European countries. One of measures taken is setting up industrial parks. The Pakistan government to promote country’s exports has planned to set up two Industrial Parks in Karachi and Lahore for textile and engineering equipments. Korangi Creek Industrial Park is being set up in Karachi while Rachna Industrial Park will be established at Sheikhupura Road, Lahore by National Industrial Parks Development and Management Company (NIPDMC).

Related Keywords: textile export, Turkmenistan textile industry

Turkmenistan traditionally grows cotton which is the basis for the development of the textile industry, the annual turnover of which is nearly $400 million.

The president Gurbanguly Berdimuhamedov expressed thankfulness to resolution of key infrastructure, investment, and innovational tasks due to which the country's textile industry has all opportunities to ensure its competitive privileges in export.

Related Keywords: garment, Pakistan, Shandong Ruvi Group, textile export, textile sectors

The Chinese Group, Shandong Ruvi Group is set to invest up to $2 billion in garments and textile sectors in Punjab for which the Chief Minister Muhammad Shahabz Sharif has assured the Group to provide it all possible incentives and protection of investment anywhere in the country.

The agreement was reached during meeting which the delegation of Shandong Ruyi Group of China held with Chief Minister Muhammad Shahbaz Sharif here on Wednesday. The delegation included Chairman of Group Yafu Qiu, Vice Chairman Ms Weiying Sun, Vice President Jerry Liu and other office-bearers.