Washington argues that New Delhi no longer qualifies to give concessions for textile exporters under the World Trade Organisation (WTO) rules as it attained export competitiveness in the textile sector eight years back. But India has decided to continue with export sops for the sector in the new fiscal and, probably, the following two years as well.
Policy Research Institute (PRI) of Bangladesh in Dhaka organised a seminar to discuss on "access to finance: environmental sustainability in the textile sector" in association with the International Finance Corporation yesterday wherein the Governor Atiur Rahman took a decision that the central bank will set aside $500 million of low-cost funds for textile factories to help them adopt eco-friendly technologies and practices.
The Suresh Halwankar Committee formed to review the existing textile policy of Maharashtra taking into consideration that India are losing out the market to China mainly because it takes nine months for Indian cotton to become a garment. While in China, it takes just two months because of full-fledged textile hubs and hence recommended establishment of mega-textile hubs spread over 1,000 hectares as against allowing garment factories to come up in a scattered manner.
Union Minister for Textiles (Independent charge) Santosh Gangwar has put up a written proposal requesting the Prime Minister Narendra Modi to connect the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) scheme with the Textile Ministry. The objective of the proposal is to develop basic amenities in the localities of artisans and weavers to motivate them to continue their traditional work.
Maharashtra’s 2011 textile policy has been the main motivator as it offers capital and interest subsidy on the investment made by textile companies which renewed interest in textile sector. In the last two years the State has managed to get investments to the tune of Rs. 7,099 crore and has created employment potential for 45,953 persons.
Kaya Group, Turkish company involved in textile sector, is planning to start textile business in Georgia. For this purpose the management of the Turkish company Kaya met the Georgian Prime Minister Irakli Gharibashvili on January 12.
The two sides discussed the investment project which is designed by the Kaya Group to produce textile production in Georgia and export it to EU markets.
Pakistan home textiles exports has grew to $1.1 billion from January to September – higher by $235.8 million or 27.7% over the comparative period. While, garments exports increased to $1.9 billion, showing net addition of $399 million on back of 27.1% growth due the European duty-free access scheme.
Pakistan has so far earned $910 million extra by availing the scheme, which is almost equal to the money that the country raised this month from international markets by paying almost 7% interest.
Nigerian cotton and textile sector once was actually the second largest employer of labour and a critical sector of the economy. There has been a decline due to a number of factors. The Federal Executive Council (FEC) on Wednesday approved policy measures aimed at repositioning the nation’s cotton, textile, garment (CTG), and fashion sectors of the economy.
Arvind Limited, denim major ranked first among 70 textiles players scrutinized the Ministry of Power on the National Energy Conservation Day on 14 December 2014. Arvind achieved nearly 22 percent reduction in specific consumption in thermal energy and 18 percent reduction in power usage from last financial year in the textile sector.
The company bagged National Energy Conservation Award 2014 of the Ministry of Power, Government of India on Sunday.
The centre plans to extend the Mahatma Gandhi National Rural Employment Guarantee Scheme (MNREGS) to textile artisans. The move aims to support artisans who are leaving the skills and joining the unskilled labour force, as the latter provides better wages. It is a step to boost to the handloom industry in India.
Santosh Gangwar, Union minister for textiles said that they are considering extending the MNREGS to the handloom weavers and artisans of the textile sector, so that they or their younger generation are not forced to take up jobs under MNREGS which offers better wages.
