The Ghana government's decision to zero-rate Value-Added Tax (VAT) on the supply of locally manufactured textiles for three years is a boost to the industry. Albeit the policy is likely to cost the government around GH¢40.1 million annually, the announcement is a respite to the people dealing in the textiles business, awaiting the tax exemption since long. Reducing the cost of production, the local textile industry will grow gradually, thus increasing employment opportunities in the country,

Courtesy: ATIRAAhmedabad Textile Industry’s Research Association (ATIRA) received ‘Special Recognition in Textile Sector’ award in the category – Technical Textiles. The award was given at an event held in Delhi on January 5, 2019. ATIRA director MN Subramanian received the award on behalf of the organisation from Union minister of textiles Smriti Irani. “ATIRA’s efforts in composites have resulted in innovations such as low cost toilets, jute composite, cotton composites, GFRP, KFRP, CFRP co

Courtesy: Messe FrankfurtYarn Expo, known for diversity of suppliers with visitors able to meet all their sourcing needs in one place, will feature around 50 prominent yarn suppliers from all around the world in the Fancy Yarn Zone. The expo, to be held during March 12-14 in Shanghai, can supply industry buyers all kinds of synthetic, fancy and specialty yarns and chemical fibres. Meanwhile, high-quality natural yarns and fibres can also easily be found, including high-end European linen and

Welcoming Prime Minister Imran Khan’s efforts to provide affordable power to textile units, the All Pakistan Textile Mills Association (APTMA) has urged him to chair regular textile industry meetings to monitor policy implementation and performance in investment and exports. The industry is committed to earning $30 billion in exports, patron-in-chief Gohar Ejaz said. The textile industry wants to undertake new investment initiatives and create millions of sustainable jobs, Ejaz said. The

The Cotton Textiles Export Promotion Council (TEXPROCIL) has welcomed the decision of the Cabinet Committee on Economic Affairs for including merchant exporters under the Interest Equalisation Scheme (IES) for pre and post shipment rupee export credit. However, it has urged the government to include cotton yarn under the scheme to encourage its exports. “This will significantly reduce the cost of finance for the merchant exporters who contribute substantially towards textiles exports and make

At Colombiatex 2019, Colombia’s major textile trade fair, to be held in Medellin from January 22-24, 2019, Italy’s primary textile machinery manufacturers will be on hand in the common area jointly set up by the Italian Trade Agency and ACIMIT. ACIMIT is the Association of Italian Textile Machinery Manufacturers, comprising of around 300 companies. Overall, there will be fifteen Italian textile companies exhibiting in the common space, all ACIMIT associated members that include Arioli, Besch

The Cotton Association of India (CAI), in its December 2018 estimate of the cotton crop for the 2018-19 season beginning October 1, 2018, has estimated cotton crop for the season at 335 lakh bales of 170 kg each. This is 5.25 lakh bales lower compared to its previous month’s estimate. Crop estimate is reduced for Gujarat, Maharashtra and Telangana. “The main reason for reduction in cotton crop is that farmers have uprooted their cotton plants in about 70-80 per cent cotton area due to moistur

Courtesy: PxhereThe Government of Turkey has initiated a safeguard investigation on yarn of nylon or other polyamides. A safeguard investigation seeks to determine whether increased imports of a product are causing, or is threatening to cause, serious injury to a domestic industry. Turkey has also notified the WTO’s Committee on Safeguards about the investigation. As per a notification issued by the WTO, Turkey had initiated the safeguard investigation on December 30, 2018. The product und

Ethiopia’s Adama Industrial park has started exporting its products, with Chinese textile firm Antex Group turning the first in the park to start exporting its swimwear to Europe. Antex and another firm have began operations, while three others will do soon, according to Lelise Neme, chief executive officer of the Industrial Park Development Corporation (IPDC). The park, located 93 kilometres southeast of Addis Ababa in the Oromia region, was officially inaugurated last October. Antex, w

Courtesy: Ministry of Textiles, Government of IndiaThere is a positive trend in the entire textile value chain as a result of pragmatic approach shown by the Union ministers of finance, commerce and industry, and textiles, on the issues of textile and clothing industry, the Confederation of Indian Textile Industry (CITI) has said. However, the rising imports of textile products remains one key area of worry. As per RBI Financial Stability Report – December 2018, the stressed advance ratio of