Global growth is forecast at 3.5 per cent in 2015 and 3.8 percent in 2016, with uneven prospects across the main countries and regions. Growth in emerging market economies is softening, reflecting an adjustment to diminished medium-term growth expectations and lower revenues from commodity exports, as well as country-specific factors.
Browsing: man-made fibre
Global growth is forecast at 3.5 per cent in 2015 and 3.8 percent in 2016, with uneven prospects across the main countries and regions. Growth in emerging market economies is softening, reflecting an adjustment to diminished medium-term growth expectations and lower revenues from commodity exports, as well as country-specific factors.
For the man-made fibre industry (MMF) in India, its disgruntlement is turning into unceasing aggression. The reasons are many: China exports 65 per cent of manmade textiles out of its exports of $650 billion while India´s share of manmade textiles is hardly 20 per cent out of its exports of $40 billion.
The Indian textile industry, employing over 105 million people, has been pleading for several urgent measures relating to Technology Upgradation Fund (TUF) scheme, levies on man-made fibre duties, enhanced incentives under Focus Market Scheme to compensate partially, the disadvantages in the tariff rates for Indian textile products prevailing in various countries till the FTAs are finalised.
The Hon?ble Minister was apprised that while Textile Industry was expecting a strong focus from the Government, however, there was no mention of it and nothing was done in the Budget to improve the health of the Textile sector.
The worrying news about the developments in the financial and political environment obscure our sight on a positive future. The leitmotif for the DORNBIRN-MFC 2014:
Innovation – Efficiency – Competitiveness reflect the necessary evolutionary constraint for renewal in the transition to a new industrial era.