CHINA
Textile (137)
The raw material price rise has impacted export margins of synthetic yarn makers in the April-June quarter. Results of this quarter were impacted by the volatility in the Indian rupee resulting in forex loss due to the mark-to-market adjustment. Raw material prices, especially for synthetic yarn such as PTA and MEG, have risen by more than 20 per cent in some cases. While the rupee depreciation has helped cotton yarn exporters reap benefits, synthetic yarn exporters have failed to do the same due to price pressure in raw materials. The rupee depreciation should have rung cash registers for yarn exporters.…
The German textile machinery sector will host two conferences in India. First will be organized in Mumbai on December 3 and the other will be held on December 5, 2013, in Coimbatore. These are organized by the German VDMA Textile Machinery Association. Indian textile companies looking for new products, improved quality of fabrics and enhanced competitiveness have the chance to learn more about the latest solutions from 14 well-known German textile machinery and accessories builders. Speakers from German companies and institutes will present practice-oriented technology topics related to twisting, knitting, warp-knitting, weaving, finishing and dyeing machinery, textiles testing and measurement…
Technical textile maker SRF is closing down its manufacturing operations in Dubai due to the sustained downturn in the European market and high fixed costs. The company manufactures nylon tire cord fabric at its Dubai plant. It would relocate the plant and machinery from Dubai to one of the company's units in India. SRF has its headquarters in Gurgaon. It has eight manufacturing plants in India and one each in UAE, Thailand and South Africa. SRF manufactures textiles, truck tarpaulins, cricket pitch cover, pond liners, inflatable fabrics. Started in 1974, the company is a market leader in nylon tyre…
The Ahmedabad Textile Industry's Research Association (ATIRA) is planning to collaborate with Underwriters Laboratories (UL), a global safety science company to enhance certification and standardization in the apparel industry. As per a senior official at ATIRA, talks began as a part of UL's recently inaugurated testing facility in Gurgaon. Spread over 20,000 sq. ft. the facility set up by UL in Gurgaon, will cater primarily to consumer product testing and certification in categories such as textiles, garments, toys and leather. "We already have a testing laboratory that work on different value chain of textiles and technical textiles industry. Hence, talks…
Registration for cotton yarn exports from India has jumped 55 per cent in the first four months of the current fiscal due to a resurgence in Chinese demand. Export registration for cotton yarn almost doubled in April-July 2013 compared to April-July 2011. If the trend continues, cotton yarn exports would beat all previous expectations to set an all-time record this year. The Cotton Yarn Advisory Board has projected a 14.2 per cent increase in cotton yarn exports from India this financial year. But actual exports could be even higher. Another factor which has helped exports is the record depreciation in the…
India wants greater access to the South Korean market in the field of textiles and garments, information technology and generic medicine. And Korea has agreed to consider providing better market access to Indian products. There has been a 70 per cent growth in trade in the first two years of implementation of the Comprehensive Economic Partnership Agreement with Korea. The pact reduces tariffs on goods and facilitates services and investments between the two nations. It has helped about 480 Korean firms operating in India. Following the implementation of the agreement, duties were either reduced or eliminated on about 90 per cent…
Lakshmi Machine Works has reported a drop in its net profit by Rs 8.37 croreS to Rs 25.37 crores during the first quarter of the current fiscal compared to the corresponding quarter of last fiscal.The Coimbatore-headquartered textile machinery manufacturing major’s profitability is said to have been impacted due to the recession in the automobile industry. The textile machinery division has shown signs of improvement, but the machine tools and foundry divisions were hit because the economy itself was passing through a difficult phase. Capacity utilisationhas dropped to around 65 per cent. While the profit (before interest and tax) of the textile…
The textile and clothing industry that has been struggling to maintain exports growth and facing tough competition from neighboring countries,is heaving a sigh of relief as the government has increased interest subvention rates from 2 to 3 percent. As D KNair, Secretary General, Confederation of Indian Textile Industry (CITI) points out "The enhancement of interest subvention is a welcome measure. High interest cost is one major factor that has been affecting the cost competitiveness of our textile products in global markets. The 50 per cent increase in interest subvention will be a great help," Nair told media.He mentioned that since…
Uttarakhand is all set to have its first modern and integrated textile park. The state government is going to develop an integrated textile park at Jaspsur in Udham Singh Nagar in a public private partnership. The SIIDCUL in association with a private sector will set up a joint venture and will hold a 49 per cent stake in it. The integrated textile park will be developed in 75 acres land at Jaspsur. The objective of the JV is to create basic infrastructure for entrepreneurs like providing interested companies land at subsidized rates to set up textile industries in the state.…
Welspun India’s vertical integration project to increase spinning and weaving capacity is on schedule and expected to be completed by the end of financial year ’14. In April, 2013, the company’s subsidiary, Welspun Captive Power Generation, commissioned a thermal power plant at Anjar. Apart from ensuring quality, and availability of key intermediate products such as yarn and fabric, the backward integration will contribute to improve the profitability of Welspun significantly. The vertical integration project, once completed, will lead to further improvement in profitability. The captive power plant is ramping up generation, thus lowering power costs further and contributing to better…
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