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ITTA & SIMA hail PLI scheme for textiles industry
Cotton has been the engine of growth for the Indian textiles and clothing industry due to long history of domestic availability of raw material, world-class textile machinery and other supporting fronts.
Govt removes anti-dumping duty on viscose staple fibre
Indian textiles and clothing industry has been facing several challenges especially on raw material front and could not achieve the envisaged potential growth rate both in the international and domestic markets.
Exports have gained momentum in FY22
The US ban on cotton from Xinjiang has led China to import more cotton from other countries such as Vietnam and India. As a result, India's exports to China increased significantly in Q4 FY21 and share of China in Indian exports increased to 25% in FY21 (from 22% in FY20). In FY22, the momentum in export growth is estimated to be higher due to revival in global economy along with ongoing restrictions on Xinjiang region produced cotton and possible similar restrictions from other countries such as UK, says Anuj Sethi, Senior Director, CRISIL Ratings, in this interview.
Yarn prices to increase with a rise in demand: Ind-Ra
Cotton yarn and spurn yarn prices to increase with a rise in demand from domestic as well as export spinners. The cotton yarn prices rise is directionally in line with the rise in cotton prices in June 2021.
RIL and AEPC host webinar on sourcing polyester fabric
The AEPC held a webinar on ‘Sourcing of Polyester Fabric’ in association with Reliance Industries Ltd (RIL). It was attended by around 50 key players in the manmade fibre (MMF) based garments sector.
SIMA urges Indian govt to remove import duty on cotton
The Southern India Mills’ Association (SIMA) has fervently appealed to the Union Finance Minister to withdraw the cotton import duty, as the duty is severely hurting the global competitiveness of the Indian textile and clothing industry.
Bangladesh mills demand withdrawal of VAT & duty on MMF
In order to meet the demand of the non-cotton fashion industry, the textile millers in Bangladesh have demanded a withdrawal of value added tax (VAT) and import duty on all kinds of manmade fibres (MMF).
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