China is seriously planning to shift part of its $300 billion textile industry to Pakistan, in coming years. This was revealed by one of the Pakistani delegates, who returned to Pakistan on Thursday after eight days official visit to China. After spending more than one week and meeting senior government officials and Chinese businessmen, I can surely say that China is very serious and it is working out a plan to shift textile industry to Pakistan, in coming years, official said. In this

The Union government is to re-introduce the Technology Upgradation Fund Scheme (Tufs), perhaps for at least 10 years, in the new textile policy, scheduled to be out by month-end. In the revised policy, the onus of funding the sector is likely to be put on the states where factories exist. “We have increased states’ share in central taxes to 42 per cent from 32 per cent earlier. So, we are looking to introduce Tufs with some tweaks; states might be asked to fund it. We are looking for a long-t

Cotton futures fell on Thursday after a monthly US government supply and demand report showed increases in projections for United States and world inventories, outweighing the impact of a generally positive weekly export sales report. The front-month May cotton contract on ICE Futures US fell 0.51 cent, or 0.8 percent, to settle at 66.22 cents a lb, after falling as low as 66.11 cents a lb. The losses came after the US Department of Agriculture (USDA) released its monthly supply and demand r

China’s cotton policies will evolve based on continued movement toward a market-driven economy, balancing the interests of Chinese cotton farmers against those of textile manufacturers, disposal of the country’s large cotton stocks, and compliance with World Trade Organisation commitments, says the US Department of Agriculture (USDA). The Economic Research Service of the USDA in a report has concluded that China’s cotton policy during 2011-13 had unintended consequences and became unsustaina

The textile industry is the largest manufacturing industry in Ethiopia. There are a number of state-owned and private textile and garment factories. The industry contributes the lion-share of employment in the manufacturing sub-sector. Ethiopia is rightly christened as the ‘Bangladesh of Africa’. Under the Growth and Transformation Plan, “production of textile and garments” besides leather products, cement industry, metal and engineering, chemical, pharmaceuticals and agro-processing are pri

Myanmar is to expand its textile and garment industry under the country’s new national export strategy as a means to boost economic growth, with the sector’s export earning targeted at $2 billion for the 2015-16 fiscal year, official media reported Tuesday. With foreign investment accounting for 90 per cent, the sector created 1,00,000 job opportunities in 2014-15, according to the Myanmar Garment Manufacturers Association. The five-year national export strategy, which also covers six ot

China has reduced the target price its cotton subsidy scheme is based on in the major growing region of Xinjiang by 3.5 percent, with analysts saying the step would have little impact on output in one of the world's top growers. The 2015 target price for cotton in Xinjiang was set at 19,100 yuan ($3,080) per tonne, down from 19,800 yuan last year, the National Development and Reform Commission (NDRC) said late on Tuesday. Under a new subsidy system introduced in Xinjiang last year, China pay

Square Textiles, a concern of Square Group, plans to increase its yarn production capacity with an estimated investment of Tk 113.87 crore. The export-oriented company now produces 21,600 tonnes of yarn a year at its three units. After the completion of the new project next year, another 4,235 tonnes will be produced. Square Textiles is expecting Tk 119 crore in turnover from the additional capacity, according to a posting on the Dhaka Stock Exchange website yesterday. The company also

In 2014, textile enterprises above designated size in Hubei Province realized industrial value added of CNY 88.89 billion, according to the textile division of Hubei Economy and Information Technology Commission. The scale of the industrial value added is 2.34 times that at the end of the 11th Five-year Plan period (2006-2010), rising at an annual average of 23.7%, surpassing the targets of CNY 87 billion of industrial value added and 18-percent annual growth rate set in the 12th Five-year P

Exports to China has sprung back to over 50 million kg in February 2015 after hovering around 30-40 million from April to October and in January. In February, export of spun yarn to China jumped 19 per cent year on year in terms of value and 38 per cent in volumes. It imported 53.3 million kg of yarns worth US$140 million. In February 2015, China imported textiles worth US$186 million, including fibres, filaments and spun yarns. Among these, the largest consignment was of cotton yarn followed