Imports of fabrics by China in 2013-14 is Rs 5,500 crore, which is grossly undervalued to the extent of at least 50 per cent. Therefore, actual value will be over Rs 8,000 crore. Imports of fabrics consist of manmade (polyester, viscose and nylon) fibres and yarns as India is the net exporter of cotton yarn and raw cotton to China.
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´The Textile Upgradation Fund Scheme (TUFS) is an interest subsidy scheme for upgradation of technology as part of measures to boost textile and jute sectors. Some say it is now plagued by issues including non-allocation of subsidy and delayed reimbursement´.
The Cotton Association of India (CAI) has released its first estimates of the crop for the 2015-16 season beginning on October 1 at 380 lakh bales of 170 kg each. This is almost similar to the output of 382 lakh bales achieved in the 2014-15 season.
The Hong Kong Trade Development Council (HKTDC) organised a seminar in New Delhi to introduce, describe and communicate how best to use its Small-Order Zone system. The HKTDC Small-Order Zone Online Transaction Platform is a buyer-oriented online sourcing platform for direct sourcing of quality products in small quantities.
The seventh edition of Yarnex and fourth edition of TexIndia, will take place concurrently from September 10-12, 2015, at the India Knit Fair Complex in Tirupur.
Asia´s purified terephthalic acid (PTA) industry is expected to come under increasing pressure in 2016 as India adds 2.3 mt to its production capacity in the first half of 2016, industry sources said.
The devaluation of Chinese currency yuan will have an adverse impact on India´s textiles exports and clothing, which is facing sluggish growth due to recessionary conditions in global markets. The surprise move by China to devalue its currency is a threat to the pace of India´s exports, according to analysts.