The textile industry is fully geared to make fresh investments and modernise. But what it seeks from the Centre is a stable policy on the lines of Satyam Committee recommendations (report submitted in 1999), say industry experts. Stating that the last textile policy was released about a decade back and since then, the industry had undergone a sea change, Chairman of the Southern India Mills Association (SIMA), T Rajkumar, said. “We are seeking a stable and comprehensive policy. We have app

The sector's export turnover in May was US$1.45 billion, reducing 8 per cent against April.— VNA/VNS Photo Garment and textile companies have been actively seeking material suppliers to reduce dependence on imports from China, due to complicated changes in the market. Cao Anh Dung, Director of the Ministry of Industry and Trade's Light Industry Department, told reporters at a press briefing in Ha Noi yesterday to review the country's economy in the first five months of the year, that exp

Close to 10 percent of drawstrings on children’s clothing in China fail to meet standards and pose a danger, experts at a world-leading German-based testing facility warned today. Chinese parents should not buy garments with drawstrings for children under 7 years old because of the risk of strangulation if they are caught on equipment at home or on playgrounds. Experts also sounded an alarm about potentially harmful chemicals on kids’ clothing. “Don’t buy clothes with a strong smell or ver

The Secretariat of Economy (SE), Government of Mexico, has concluded an antidumping investigation and imposed a definitive antidumping duty on imports of synthetic fibre (man-made fibre or MMF) blankets from China. Imports of synthetic fiber blankets, including woven raschel fabric type, prints, smooth, with or without embroidery, with or without intermediate wadding, of any size, originating in China under codes 6301.40.01 and 9404.90.99 of the Tariff Act of General Imports and Exports (TIGI

The arrival of cotton in Indian markets has increased by 13.72 percent year-on-year to 36.3 million running bales of 155-157 kg each by May 31, 2014, according to the latest monthly analysis of cotton market released by Arun Kumar & Company. By May 31, about 36.3 million running bales of cotton have arrived in the market, compared to the arrival of 31.92 million bales during the corresponding period in the previous season, says the report. In Gujarat, 11.8 million bales of cotton reach

Boosting revenue: Rs20b is likely to be generated by decision to increase tax rates on domestic sales of textile products. PHOTO: FILE In a move akin to straying into a political mine field, Prime Minister Nawaz Sharif is said to have cleared a budget proposal to increase tax rates on domestic sales of textile products. The move is aimed at plugging revenue leakages and fetching Rs20 billion in taxes. The premier has cleared the proposal to increase tax rates at yarn stage from 2% to 5% a

The management of Suraj Textile Mills Limited plans to make long-term equity investment of up to Rs50 million in the solar power projects by way of acquisition of 5,000,000 ordinary shares of Rs10 each of the proposed S2 Solar Limited, an official document revealed. A new company in the name of ‘S2 Solar Limited’ will be formed. Based on the initial study, the company is expecting per megawatt cost of $1.5 million. Total investment has been estimated at $75 million approximately with equity i

Textile spinning mills in the region have rejected the demand from garment manufacturers in Tirupur for a cut in the prices of cotton yarn. Garment makers want mills to reduce yarn prices by 10 per kg for all counts citing the lifting of power cut in the state. "It is a time for spinning mills to revise their pricing strategy accordingly, as it was being mentioned that the increased power cost was the reason, apart from (high) cotton prices, for the increase in yarn prices," said A Sakthivel,

Bangladesh has urged the Japanese entrepreneurs to raise its import of Readymade Garment (RMG) products from Bangladesh to at least 10 percent from the existing 1.77 percent. "Japan imports RMG goods worth US$ 31.78 billion from global sources. But it imports only 1.77 percent of its total apparel import from Bangladesh," M Atiqul Islam, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), told a press conference at the conference room of FBCCI here today.Among other

The garment and textile industry has taken measures to protect the environment such as implementing cleaner production programme, encouraging enterprises to apply environmental management standards and creating a good workplace for labourers, the Vietnam Economic News reported on May 29. Like many other producers, Vietnam’s garment and textile industry is facing environment pollution as the dyeing wastewater has a great amount of chemical waste disposal.Being aware of this issue, many Vietnam