Mr. Sven-Erik Bucht Minister for Rural Affairs from the Ministry Of Enterprise And Innovation Sweden arrived in Mumbai today to discuss a joint project on smart textiles involving potentially Aditya Birla Group, Swedish company Domsjo and the two governments as well as the EU.
Through this collection fabric manufacturers and producers will work together for the first time, to attain a cleaner textile industry.Their innovative technology is contributing to the transformation of the country’s textile industry.With Jeanologia as the expert technology partner, the Bangladeshi textile market will be the most competitive, speeding up time to market and offering a modern sustainable product.
The government of Egypt has invited three Brazlian enterprises from textile industry. Textiles maker Fiama, yarn maker Círculo and elastic band manufacturer Damenny to see Egyptian-made raw materials, action backed on the Brazilian side by the Arab Brazilian Chamber of Commerce and the Consulate of Egypt in São Paulo.
Uzbekistan, the world’s sixth-largest cotton producer has signed large contracts for the export of finished textile products and semi-finished products for more than $1 billion with companies from Russia, Turkey, South Korea, Singapore, Moldova and other countries, following the 13th International Uzbek Cotton and Textile Fair.
Uzbek by exporting this strategic crop.aims to further increase incomes to the national economy. Representatives of foreign purchasing companies noted the quality and price parameters of Uzbek textile.
Rising trend seen in cotton prices on Tuesday with panic buying for quality lint from buyers. With Phutti (seed-cotton) arrivals remaining high, quality issues continue to haunt the textile industry.
Growers have been raising phutti prices against which ginners were forced to increase cotton prices. On ready deals, prices moved higher to Rs6,500 per maund. Resultantly, official rates were also adjusted upward.
Top global fashion brands Calvin Klein, Arrow, Izod and Cherokee are among the international labels that have signed production contracts with Kenyan local textile manufacturers, raising the profile of Kenya's export processing zones (EPZ), according to officials of the Export Processing Zones Authority (EPZA).
Other brands including Hennes & Mauritz (H&M) started local production in 2014 at Ashton Apparel.
At cotton market, spinners showed reluctance in buying the commodity at a higher rate as ginners were not ready to lower prices keeping trading activity slow on Thursday.
Though there was strong demand for quality cotton, ginners refused to lower prices which restricted trading activity. Growers were also keeping phutti (seed cotton) on higher side.
Market sources said that growers – who have already sold almost half of their cotton crop in a short period of two months – feel financially strong and are not in a hurry to dispose of the remaining crop.
The man-made fibres and yarns were slotted under 18 percent GST rate while the fabrics were slotted under 5 per GST slab with a condition of no refund ITC at fabric stage. This had created a huge accumulation of nonrefundable ITC with the weavers and blockage of working capital.
The Country’s finance minister Arun Jaitley on Friday announced latest revision in the goods and services tax (GST) rates. Tax rates on man-made yarn is reduced from 18 percent to 12 percent, while slashing GST levy on job work of zari (embroidery) to 5 percent, from the previously agreed upon rate of 12 percent.
The upcoming Pakistan International Trade Fair(PITF) 2017 to take place this October at Karachi nearly 300 companies including 100 international firms have confirmed their participation. Hanif Gohar, Chairman Fair and Exhibition FPCCI, at the pre-event briefing on Saturday regarding the upcoming PITF said that the event will prove to be a gateway for Pakistani industries to global markets.
