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.
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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.
The Synthetic & Rayon Textiles Export Promotion Council (SRTEPC), Mumbai, the apex Export Promotion Council of MMFT exporters organised first Road Show/Seminar on “Source India 2018†quite recently in Bhiwandi at the Hotel Regent Garden with the support of our member-exporters and other textiles associations in and around Bhiwandi.
India and Turkey have much to offer and learn from each other in textiles, and only by the collaboration route can they raise their respective shares in textile trade, points out an ITJ Exclusive Story