Textile and clothing exports dropped by nine per cent to $7.345 billion during the first seven months (July-January) of this fiscal year from $8.086bn in the same period a year earlier, the Pakistan Bureau of Statistics (PBS) said on Tuesday. The decline came despite a duty-free access to European markets under GSP+ preferential tariff scheme. A source in the commerce ministry said the government has developed a three-year strategic trade policy framework 2015-18, but it has yet to annou

In India, cotton prices edged up in the third week of February on fresh demand from domestic yarn mills after prices declined in the previous week. Gujarat Sankar-6 cotton gained INR500 to INR33,600 per candy. Other varieties saw prices gain INR200-800 per candy. As a result, cotton yarn prices climbed in India during the week, with offers regaining INR1 a kg in Ludhiana whereas remaining flat in Indore. The rise explains the rebound in cotton prices, after progressively declining in the pas

Turkish textile and ready-made clothing sectors to make up for their losses experienced since bilateral political relations were strained with Russia, is all set to open up to Iranian and African markets as an alternative markets to compensate lose of Russian market. Turkish textile exporters have planned roadshows in Iran, Ghana, Nigeria, Morocco, Tunisia and Algeria in March. Laleli Industrialists' and Businessmen's Association (LASİAD) President Giyasettin Eyüpkoca said that economic

Ahead of the new textile policy, Textiles Minister Santosh Gangwar has said that the government expects an investment of Rs 30,000 crore in 74 textile parks that would be set up in the country. "Our government has given approval to 24 Textile Parks in the last one year, the rest were cleared by the previous government. So in total we are setting up 74 textile parks, which will attract an investment of Rs 30,000 crore," Gangwar told reporters on the concluding day of the Make in India Week in

The Government of Japan provides additional assistance to budding Sea Island Cotton industry, Belize. Cotton crop yields are much higher than any other agricultural product in Belize, including sugar cane, but cotton farming requires different kinds of equipment. The Japanese, who are knowledgeable in the harvesting and processing of cotton, has offered this kind of support, as well as the equipment to produce cotton. A year ago, Japan also assisted the industry, which was originally started

Fall in cotton yarn and fabric markets is depressing cotton trade, as leading spinners stayed away from the proceedings having already imported a substantial quantity of cotton due to which the cotton market turned easy on Friday, said floor brokers. Despite the fact that stocks are low and there is little hope of any substantial arrival of phutti (seed cotton) during the current season, there are hardly any signs of panic buying. Brokers said that millions of spindles would go idle in the

Domestic footwear producers must brace themselves for a bumpy ride ahead in the face of stiffer competition as they lag behind their regional rivals in terms of technology. Vietnam’s footwear products are shipped to around 50 countries worldwide, with the largest buyers including the US, Japan and the EU. Footwear exports rose sharply from 8.5 billion USD in 2013 to 12.07 billion USD last year, but this does not necessarily indicate a bright future for the country’s footwear firms. Acco

Many textile-garment enterprises said they have secured export orders until the end of the second quarter and some have tight production schedules until the end of this year. Many apparel firms on February 15 resumed operation after a nine-day Lunar New Year holiday (Tet), which ended on Sunday. Le Quang Hung, chairman of Saigon Garment Manufacturing Trading JSC (Garmex Saigon), told the Daily that there are plentiful export orders which will keep their factories busy until the end of the

The government is likely to announce a new textile policy by April, aimed at helping the sector take advantage of the slowing competition from China through a series of reforms. Announcing this development, Santosh Kumar Gangwar, the minister of state for textiles (independent charge), said on Thursday, the new textile policy would be announced in the Budget session of Parliament. “The slowdown in the Chinese economy has rendered the cost of textile production in China high. So, Chinese te

First-generation entrepreneurs and industry stalwarts Sanjeev Khandelwal and Mihir Shah introduced xstok.com, a B2B online marketplace for selling surplus textile stock. Termed it as a badla business with the tagline “kya aap badle?” xstok.com lists extra stocks of various products in the textiles industry from large mills. The platform conducts online auctions of fabrics, readymade garments and made-ups. Since its launch nearly seven months ago, xstok.com has conducted over 300 auctions o