Pakistan Federal Minister for Commerce Khurram Dastagir Khan has said that Pakistan aims at increasing exports to India to $1 billion within a year, as made-up textiles products and ready-made garments have great potential to make their way to Indian markets. He was chairing a meeting of the Pak-India Business Council in Islamabad recently.
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The Cotton Textiles Export Promotion Council (Texprocil) has welcomed the Government’s decision to amend the Incremental Exports Incentivisation Scheme (IEIS) and the Merchandise Exports from India Scheme (MEIS). The Government removed the restriction under IEIS last week. “The decision of the Government to issue duty credit scrips under the IEIS without any restriction will certainly improve the cash flow of the exporters,†Texprocil Chairman RK Dalmia said.
Malaysia’s textile division will grow by at least 30 per cent, thanks to a surge of investment when the Trans-Pacific Partnership (TPP) agreement comes into force, according to Rebecca Chiang, executive director, Malaysian Knitting Manufacturers Association (MKMA). The trade deal’s ‘yarn forward’ rule makes it mandatory to use TPP member-country produced yarn for TPP-made textiles in order to be covered by the agreement’s market access benefits
Starting the year with trend inspirations from Ambiente and Heimtextil in Frankfurt, the Indian editions of these world-renowned fairs are now gearing up to expose global textile, furnishing and decor trends of 2016 to the domestic market. The third edition of Heimtextil India & Ambiente India will return to Pragati Maidan, New Delhi to showcase new collections and creative applications of textiles, home furnishings, homeware and interior décor from June 22-24, 2016.
The global technical textile market is growing along with new innovations and developments. While a large part of the demand comes from developed countries, the increasing industrialisation and development of emerging countries is driving the growth of the overall market. The United States is the largest market for consumption of technical textile products, accounting for a share of 23 per cent followed by western Europe, China and Japan with a share of 22 per cent, 13 per cent and 7 per cent respectively.
The Free Trade Agreement between India and EU will be signed at the earliest since the dialogues between the two countries have been revived, said Rashmi Verma, Union Secretary (Textiles), said at the inaugural of the 42nd India Knit Fair.
While Bangladesh, India and Pakistan are expecting higher exports of readymade garment (RMG) to the U.S. and European Union (EU), exports from the East Asian giant China and start-ups Cambodia and Vietnam are the on decline.