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Related Keywords: duty reduction, fabric, higher incentive, home textile, Indian cotton price, international price, Texprocil, textile export, trade deficit, yarn export

The Cotton Textiles Export Promotion Council (Texprocil) has urged the ministry for higher incentives including 5 percent duty reduction for exports to China. This incentive will help to put another USD 7 billion worth of fabrics and home textiles into China and reduce the trade deficit of USD 32 billion with China.

India has a USD 32 billion trade deficit with China, in which USD 12 billion worth of imports are allowed to come into India either duty free or at concessional duties. India on the other hand has not acquired any reciprocal benefit.

Related Keywords: EU countries, GSP Plus status, knitted garment, Pakistan textile industry, value added export, woven garment, yarn export

Pakistan although granted with GSP Plus status has shown less increase in exports than non-GSP Plus India is not a good portent for Pakistan. India having graduated out of even GSP status that provides some relief in duties than the normal EU tariff as yet show remarkable growth in value-added exports to the EU in the first three months of 2014, said Pakistani experts concerned over Indian growth in textile exports to EU.
 

Related Keywords: Free trade agreement, India textile industry, Technology Upgradation Fund Scheme, Union buget 2014-15, yarn export

Yarn exports have been very good this year, but to further help yarn exporters, the Government needs to recommence efforts to seal a Free Trade Agreement with the EU to drive exports from the current $15 billion.

Related Keywords: Chinese cotton policy, Indian cotton yarn, raw cotton price, Texprocil, yarn export

The Cotton Textiles Export Promotion Council, (Texprocil) based on its study conducted on cotton yarn, revealed that India's cotton yarns exports are meeting their targets barring the seasonal fluctuations generally witnessed every April and in spite of high raw cotton prices.

India has exported 1082 million kgs of cotton yarn worth US $ 3.75 billion during the 10 month period from April 2013 to January 2014. It is expected that the full year figure likely to be at 1350 mn kgs valued at US $ 4.70 billion.

Related Keywords: cotton, export, Nepal readymade garment, other yarn, polyester, Woolen and Pashmina shawl, yarn export

Nepal’s readymade garments is one of the largest export sectors in terms of foreign exchange earnings apart from providing employment opportunities was almost on the verge of collapse but has changed in recent months. Nepal’s RGM sector has shown a sharp increase in its exports as peace and political stability have convinced foreign buyers to return, and demand from abroad has instilled confidence in garment entrepreneurs.

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: Vardhman Textiles, yarn export

Vardhman Textiles, leading textile firm due to cheaper input cost and increase in yarn exports to China for the quarter ending December 31 saw a rise in its net profit. The net profit saw a 109 per cent jump to Rs 175.24 crore.

The company had reported a net profit of Rs 83.62 crore in corresponding quarter of last fiscal.

The company’s net sales for the third quarter of the ongoing fiscal stood at Rs 1,415.98 crore, up 30.72 per cent over revenue clocked in corresponding period.