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Related Keywords: adhere to global standard, combat counterfeiting, dumping of textiles and garments in the market, Garments and Tailoring Workers of Nigeria, lack of access to international market, ncourage textile workers, Nigerian federal government, prioritize skill development, Quadrennial Delegates Conference, Textile, textile sector

The Federal Government of Nigeria has assured the textile sector that it will do all it can to ensure surmount the challenges faced by them. It will also encourage textile workers to prioritize skills development and adhere to global standards, so that they can efficiently compete and create the much needed jobs, as well as combat counterfeiting.

Related Keywords: allocating funds to help compete with global market, disappointed over absence of measures, expressing concern on the proposal of excise duty, FIEO, looking up to budget for incentive, not granting concessions, on branded readymade garments and made up, support textile traders, Telangana state federation of textile association, textile sector

The textile sector was looking up to the Budget for incentives but nothing has been done in this direction, said Telangana State Federation of Textile Associations (TSFTA) president Ammanabolu Prakash on Monday. He expressed disappointment over the absence of measures to support textile traders.

The Federation president Ammanabolu Prakash said that traders play a pivotal role… pay a variety of taxes to the State and Central governments but the Finance Minister has disappointed them by not granting concessions or allocating funds to [help] compete with global market.

Related Keywords: buyers reluctant to make sizeable deal, cotton bales, ginning units, KCA, Lint market, on grade issue, remained lean, Spinners, spot rate, textile sector, though price low, trading activity

Trading activity remained lean as buyers were reluctant to make any sizeable deal though price was low at the lint market on grade issue, floor brokers said. Some spinners finalized deals of fine type to meet immediate need and around 200 bales changed hands.

The Karachi Cotton Association (KCA) spot rate remained firm at Rs 5,300 per maund. The volumes were slow with traders purchased just 200 cotton bales in the ready market of Sindh and Punjab at Rs 4,950 per maund to Rs 5,450 per maund.

Related Keywords: announced policy of Maharashtra, Chandrakant Patil, encouraging investors with self financing, extend capital subsidy, MIDC, projects financed by banks, revive ailing textiles units, self financed textile unit, Texprocil, textile sector, textiles minister

Textiles minister Chandrakant Patil announced the policy of the Maharashtra Government to extend a capital subsidy to those textile units which are self-financed. Initially, Capital subsidy was allowed only for those projects that were financed by banks.

Related Keywords: Bangladesh Garment Manufacturers and Exporters Association, Bangladeshi taka, corporate tax in Bangladesh, Garment Exporters, garment imports in Europe, garment makers in Bangladesh, garment sector of Bangladesh, garments exports from Bangadesh to Europe, tax for textile industry, textile sector

In order to help exporters upgrade factories and boost investments, government of Bangladesh is set to revive the option of reduced corporate tax rate for the garment sector.

From fiscal year 2005-06 till 2013-14, the sector paid corporate tax at a reduced rate of 10 percent.

However, this provision was expired on 1st July, 2014 and the government did not extend it again, meaning the sector paid tax at the 35 percent rate in fiscal 2014-15.

Related Keywords: capitalise maximum returns, cotton bales, Cotton growers, cotton growing belts, fine lint in demand, ginning units, KCA, Lint market, Mills in Sindh and Punjab stations, month period forward deals, physical prices firm, spot rate, textile sector, trading session

During the trading session, many buyers made deals in fine grade to strengthen their long positions in the lint market that kept physical prices firm. Trader at the Karachi Cotton Association (KCA) also said that some leading buyers made a month period forward deals for all grades on Saturday.

Related Keywords: buyer and seller, buyers keen for fine grade quality lint, deals on slightly higher prices, KCA, Pakistan cotton market, remained entangled in price war, second grade stuffsecond grade stuff, spot rate unchanged, textile sector, trading session

Buyers at the cotton market remained keen for fine grade quality lint and made deals on slightly higher prices at around Rs5,500 per maund on Monday during the trading session. About 3,000 bales changed hands.

The Karachi Cotton Association (KCA) spot rate unchanged Rs 5,250 per maund.

According to senior trader, Ghulam Rabbani, buyers and sellers remained entangled in price war on second grade stuff. Some buyer to cater their immediate need went ahead to purchase the grade at around Rs 5,225 per maund.

Related Keywords: Ambassador of Romania, bilateral trade, Emilian Ion, exchange of trade delegations and other such initiatives, improve trade balance, offers excellent opportunities, Pakistan huge market, PTEA meeting, Romanian businessmen, strengthen ties by holding business to business meetings, textile sector, untapped potential

Pakistan is a huge market which offers excellent opportunities to Romanian businessmen in various sectors of the economy particularly the textile sector, said Ambassador of Romania, Emilian Ion while speaking at a meeting during his visit to Pakistan Textile Exporters Association (PTEA).

According to him, although trade volume between Pakistan and Romania has been improving with balance of trade in favour of Romania but this volume was not depicting the real potential and can be improved further as huge potential to enhance trade exists between the two countries.

Related Keywords: Central Asian Market, enhance export volume, first Made-in-Pakistan exhibition, introduce Pakistani products, MoU signed between RCCI and Industry of Republic of Tajikistan, organized by RCCI, promote bilateral trade, share business information, textile sector, thrity exhibitors displayed products

The first Made-in-Pakistan exhibition to introduce Pakistani products in Central Asian Market was held in Dushanbe (Tajikistan) from 29th to 31st Oct organized by Rawalpindi Chamber of Commerce and Industry (RCCI).

Three day Made in Pakistan exhibition started with opening ceremony at State Complex Kokhi Borbad followed by Business Forum for entrepreneurs of Tajikistan and Pakistan. Thirty exhibitors from textile, handicrafts, leather, Paint, Pharmaceutical, food, logistics, IT, furniture, Kitchen ware, handicraft and surgical items sectors displayed their products.

Related Keywords: considering consolidation and modernization, expand it Entyce showroom network, helped mills improve productivity, improve quality, National Textile Corporation, reduce cost, textile sector, through franchisees, used for the free dhoti and saree scheme, yarn and fabric from the cooperative spinning mills and TNTC

National Textile Corporation (NTC) which has seven mills in the State, is considering consolidation and modernization. The NTC also plans to expand its Entyce showroom network through franchisees. It had invested in modernisation between 2008 and 2010 and taken up capacity addition in two mills two years ago. This has helped the mills improve productivity, reduce costs and improve quality, said A. Arulsamy, Executive Director (south).