Swissmem’s Secretary General, Cornelia Buchwalder speaks on how the year 2017 was for the Swiss textile machinery industry in terms of performance, and pluses and minuses in the prospects for 2018.
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India?s textile machinery industry is no big achiever compared to its European counterparts. But in exports, it is slowly and steadily making an impressive impression in the global markets in its own way, reveals an exclusive ITJ Report.
The unsettling trade situation between the world’s leading cotton exporter, United States of America and a leading user, China, should place India’s cotton and textile sector in a better situation.
Sri Lanka’s deficit in the trade account has been on a continuous expansion, but the pace at which it grew during the month of May decelerated after many months, as the country’s goods exports grew faster than its imports bill.
Presently the Indian textile engineering industry is fulfilling only 45-50 per cent requirement of the domestic market of Rs 15,000 crore, while exports about Rs 6,500 crore worth textile machines and accessories.
Presently the Indian textile engineering industry is fulfilling only 45-50 per cent requirement of the domestic market of Rs 15,000 crore, while exports about Rs 6,500 crore worth textile machines and accessories. It has targeted to reach to Rs 25,000 crore by 2025.
The India Government raised the import duties on a large number of textile apparels, fibres and related products such as carpets by up to 20 per cent. Spread across 37 broad tariff areas, the import duties, however, target products for which India?s imports are low.