CHINA
Textile (137)
The Textile Ministry in India has sought more benefits for the weaving sector under the revised Technology Upgradation Fund Scheme (TUFS). While the spinning sector incentives are to be reduced. The thinking is that while the spinning sector has improved over the years and weaving is the one which requires attention. The weaving sector is expected to get 6 per cent interest rate subvention, which right now stands at 5 per cent. It may be noted that TUFS that was very popular in the textile industry just a few years ago, is being restructured and will be part of the next five year plan. The scheme…
Rainbow Denim has reported a standalone sales turnover of Rs 32.97 crores and a net loss of Rs 5.56 crore for the quarter ended June 2013. Other income for the quarter was Rs 0.09 crore. For the quarter ended June 2012, standalone sales turnover was Rs 41.17 crores and net loss was Rs 1.43 crore, and other income Rs 0.20 crore. Rainbow Denim’s ultramodern plant uses rope-dyeing technology and has the capacity to produce 20 million meters of denim per year. Denim is not only produced in different depths of blue, but in various combination shades, making Rainbow part of…
The cost of synthetic fiber has been rising after the sharp fall in the rupee. Simultaneously, cotton prices have also increased. Rupee fluctuations will be the deciding factor for raw material prices in the next few months. Any fall in the currency will stem imports especially if the product is meant for local consumption rather than re-exports. An increase in raw material costs has been a big hurdle for fabric makers in India. However, one bright spot is rising export demand. This allows them to pass on the increase in raw material costs. Yarn-weaving companies in particular are optimistic about…
Report reveals amidst the depreciation of rupee and rising global cotton inventories and expectation of bumper domestic crop, the Indian textile industry is expecting to gain on all fronts with competitive positioning in yarn, fabric and apparel exports. Global cotton production is expected to surpass consumption continuously for the fourth year in a row, which would result in further piling up of inventories. With the Chinese MSP for cotton at 142 cents/lbs, mill demand for cotton reduced significantly as the global prices hovered in the range of 80-90 cents/lbs. However, Chinese millers are not in favour of importing cotton as…
After an overwhelming response from customers and partners, Invista, the world’s largest manufacturer of polymers and fibres is all set to enthrall Mumbai with the next edition of Lycra Rendezvous on October, 16 and 17, 2013. The two day event will see a showcase of Invista’s prominent innovations for the denim and intimate apparel segments with technologies like Coolmax fabric, Thermolite fabric, Lycra beauty fabric, lycra T400 fibre and easy set Lycra fibre. With a focus on bringing in global trends for the Indian market, Invista has worked with a number of customers in India to develop garments especially for…
Blue Blends, a vertically integrated textile manufacturing company is looking at 35 per cent increase in turnovers for 2013-2014. The company is completely focused on exports and 70-75 per cent of its business is in exports. As Ravi Shankar Singh, CEO, Blue Blends explains, “The market is bad this particular year and we are totally focused on exports. Either we are exporting our fabric directly or catering to garment exporters within India, which is definitely our clear cut plan. Not many units are comfortable selling goods in domestic markets.” Blue Blends exports to Europe, US, South America, Bangladesh, Israel and…
Zimmer Austria has pioneered many global innovations and milestones in the textile printing industry for over more than a century. The company has established a strong presence across the globe as a highly reliable printing machinery manufacturer. The company has been working in the Indian market for many decades. Since 2012, it has had a tie-up with ATE for marketing and sale of digital printing machines in India. Zimmer sees a lot of potential in India for carpet printing machines. Thanks to the high duty structure for import of carpets, and also the increasing demand from hotels, offices and the…
India has eased import norms on certain varieties of wool to help the domestic industry in sourcing the raw material. The Indian wool importing industry wanted the removal of the mandatory requirement of a ‘No Objection Certificate’ for wool imports as it hindered supplies and was hurting the sector. Of course, certain varieties of wool still need not require an NOC. This move is expected to aid the smooth inflow of wool imports, help the domestic industry engaged in value addition, making carpets, woolen clothing, garments and other woolen products and help in increasing the country's exports. Wool importers have…
The textile sector could witness a jump in exports this financial year due to the falling rupee. Textile exporters feel the depreciating rupee could lead to a 5 to 10 per cent rise in textile exports this fiscal after a bleak year in 2012-13. However, cotton textiles export declined by 10.4 per cent in the first quarter of this year against the same period last year. Wool exports declined by 7.5 per cent and silk exports plunged 8.6 per cent. Textile exports rose by a marginal 0.3 per cent in April-June this financial year compared to the same period last year. Readymade garments…
A resurgence demand from China for cotton yarn has boosted India’s export, which has gone up by 55 per cent in the first four months of the current financial year. If the trend continues, cotton yarn exports will likely hit a new record this year. “If the trend continues, cotton yarn exports would beat all previous expectations to set an all time record this year,” says D K Nair, Secretary General, Confederation of Indian Textile Industry. Reports reveal the Cotton Yarn Advisory Board has projected a marginal 14.2 per cent increase to 1,150 million kg in cotton yarn exports from…
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