An 110,000-spindle plant backed by investment of 350 million yuan ($57 million) kicked off construction in Hutubi county. It is the third plant Henan Xinye Textile Co Ltd will have established in Xinjiang in the past 12 months. The three plants will employ 3,000 people in 3-5 years. Understanding the potential for cotton production in Xinjiang and the vast market in central Asia, the company purchased a bankrupt textile company in Hutubi county last January. Luo Rongqing, deputy general

Vietnam becomes the world’s fourth largest textile exporter having earned an estimated US$12.18 billion in the first half of this year from these products – a year on year (YOY) increase of 10.26 percent. The industry is well on its way to meet its export target of US$27-27.5 billion set for 2015, according to the Vietnam National Textile and Garment Group (Vinatex). The three largest importers of Vietnamese products are United States – with a YOY growth rate of 11.01 percent, followed by Sou

China is expected to overtake the US in 2026 in nominal GDP in dollar terms and maintain its position as the largest economy to 2050. India is expected to move up the rankings to third place, with real growth averaging close to 5 per cent up to 2050, according to a report by the Economist Intelligence Unit (EIU). Indonesia and Mexico are expected to leap into the top ten world economies from 16th and 15th place in 2014 to fourth and ninth place respectively by 2050. The US, Germany, the UK an

From gummy bears to silky mousses, gelatin is essential for making some of our favorite sweets. Now scientists are exploring another use for the common food ingredient: spinning it into yarn so it can be made into clothing. And because gelatin comes from livestock by-products, the new technique would provide an additional use for agricultural leftovers says a report in the American Chemical Society (ACS) journal Biomacromolecules. More than a century ago, the textile industry started using pr

The government to announce the new national textiles policy in July after the cabinet approval aims at creating 35 million new jobs by attracting foreign investment, Textile secretary S K Panda said on Mondy after inaugurating the 61st National Germent Fair in Mumbai. Minister of State (Independent Charge) for Textiles Santosh Gangwar, who has been working on the long-delayed policy since he assumed office last year, however, did not give an exact time-frame within which the policy could be e

China, the world's largest grower, consumer, and importer of cotton to start selling down cotton from its massive State stockpiles over the next two months. The aim is to release and then buy in, sell out more and buy in less, in order to use up State reserve stocks, the National development and Reform Commission said. China will auction an initial 1 million metric tons of cotton from early July through August of which China will offer at the auction 330,000 tons of domestic cotton from the 2

Pakistan cotton market witnessed improved buying interest in new crop on Tuesday. Mills and spinners showed interest in purchasing new crop due to quality factor which helped to improve the volume of business. According to analyst, Naseem Usman, some of mills were on the sidelines due to rising problems related to textile business such as load shedding. Other dealers said that cotton market saw thin business because of bank holiday. The official spot rate at Karachi Cotton Exchange remaine

China's central bank announced a targeted cut of reserved requirement ratio (RRR) and the year's third reduction of the one-year deposit and lending rates beginning Sunday to consolidate the moderate rebound of economic growth and ensure low financing costs for companies. According to the People's Bank of China (PBOC), it lowered the RRR by half a percentage point of city commercial banks and non-county-level rural commercial banks that have lent a certain portion of their loans to agricultu

Teijin Group's fibre product converting company, Teijin Frontier has developed a new, highly comfortable and functional polyester material that achieves the pile structure of toweling. “The material made from 100 per cent polyester fibre, offers excellent water absorbency, a soft texture and a unique bulky but lightweight feeling,” a Teijin press release said. Teijin Frontier is developing a variety of applications for the new material, focusing on 2016 fall/winter sportswear but also func

The emergent meeting of the general body of the All Pakistan Textile Mills Association has decided to close down the textile industry of Pakistan voluntarily, finding it unfeasible to incur losses due to limited supply of gas and power to the industry. APTMA Chairman SM Tanveer said the member mills have decided on their own to put their operations off voluntarily because of the viability issue. “We do not want confrontation with the government therefore we are closing down mills voluntarily,