The TEA President said he had already met Union Textiles Minister Smriti Irani over the issue, with a request to mandate that Cotton Corporation of India ensure availability of enough quantity with desired quality to protect the interests of farmers, the textile industry and also to generate employment.
The advanced fair Avantex has a good geographic location, in the middle of Europe, which makes it easy for all markets and prospective customers to come. On the 17-20th September, Coloreel will launch their revolutionary thread coloring unit for industrial embroidery machines at Avantex, the fair where high technology meets fashion industry. At stand Z428, the customers will be able to meet with both Coloreel and the European distributors.
The CEC apprehended that the imposition of import duty on cotton would erode the viability and competitiveness of industry and nullify the gains in exports during the last one year.
The CEC also rejected the imposition of 11 percent duty on import of cotton from July 15, as the domestic cotton production in the coming season is expected to be even less than 10 million bales and the industry will have to import more than five million bales to meet the shortage. The CEC also criticised reduction in rebate and exclusion of yarn and fabric from the list.
The partnership will consider new methods in textile research with pioneering visualization for Pakistan to help the Pakistan textile industry and keep in line with the fast pace of global apparel needs and development. The MoU will make way for cooperation initially for a five-year period.
A global leader in colour and specialty chemicals, Archroma announced that it has signed a Memorandum of Understanding (MoU) with the University of Engineering & Technology (UET), Lahore, Pakistan.
According to industry sources cotton stocks with small and medium-scale mills would be low. Internationally, China was said to be importing large quantities. Those who were buying for daily needs might be affected.
The mills that had covered cotton at the beginning of the season would benefit now. The mills fear that as the season comes to an end, the prices might go up further. Since cotton is the main raw material, the entire textile value chain will be affected.
Ujwal Lahoti, chairman, Cotton Textile Export Promotion Council said that, “Some policy measures like refund of embedded taxes (also recognised by the Economic Survey for 2017-18), extending the ROSL scheme which refunds state levies like value added tax and generation of captive power, mandi tax, duty on electricity, stamp duties on export documents, etc, and to expedite the refund of pending GST and IGST claims, and ROSL of exporters need to be considered on priority basis.”
According to Sanjay K Jain, Chairman of Confederation of Indian Textile Industry and board member, Cotton Association of India, the matter is currently under deliberation. “The Suvin cotton produced in Tamil Nadu and Shankar 6 produced in Gujarat are both good quality cotton and can be projected as a global brand. The matter is in the deliberation stage,” he told at the session.
The proposal, once ready, would be placed before the Textile Ministry as well as the Commerce Ministry, Jain said. He however was unable to give a timeline for the same.
The White House announced it will impose a 25% tariff on $50 billion worth of Chinese technology goods. The list of covered imports is scheduled to be published June 15. The original list of goods slated for tariffs earlier this spring did not include textiles.
Epson and its subsidiaries For.Tex. and Fratelli Robustelli appoints The Textile Engineers of Pakistan (TEP) to drive Monna Lisa digital textile printer expansion in the Pakistan market.
The Yarn Fabric & Accessories Show (YFA) 2018 which runs from August 30th – 01st, September 2018 at Dana Mandi, Bahadur K Road, Ludhiana aims to redefine the way fiber, yarn, fabric and apparel accessories are sourced and bring renowned suppliers from the these four segments closer to buyers and also offer buyers a one-stop place to source all their requirements.
