According to data compiled by the Cotton Textiles Export Promotion Council (TEXPROCIL), Indian cotton yarn exports witnessed a fall of 9.79 per cent in the first four months of fiscal 2017-18. Exporters cite slow pick up by China and Bangladesh, the two big target markets comprising around half of the cotton yarn shipments from India, for the decline.
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Afghan investors who will attend the India-Afghanistan Trade and Investment Show in Delhi in September say they will urge Indian businessmen to invest in their carpet industry with the help of the United States Agency for International Development (USAID) and the Indian Government, which, they want, should establish a free market for Afghan carpets in India.
Organised by the Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA), the 18th Textile Asia International Exhibition will highlight the advantages of China Pakistan Economic Corridor (CPEC) for textile industry of both the countries.
The Indian Jute Mills Association (IJMA) is concerned over the proposed new pricing formulae of jute bags adopted by the Tariff Commission 2017 that will bring down prices of the bags supplied to the Government by minimum 10 per cent. The Association feels if the pricing is implemented from September, several mills will turn ‘unviable’ and shut down.
India’s apparel exports continue to remain volatile and unencouraging with the global apparel trade not showing any signs of uptick amid subdued demand trends in the key importing countries.
Bangladesh’s Nitol-Niloy group, which has business interests in automobile and engineering, wants to invest in the Indian textile sector, especially in West Bengal, where it plans to start a spinning mill to convert India-sourced cotton to yarn for consumption in Bangladesh.
The net profit of Vijay Textiles jumped 245 per cent to Rs 1.72 crore in the first quarter of fiscal 2018 as against Rs 0.49 crore in the first quarter of fiscal 2017.