Government eyeing non-traditional markets to boost textiles exports

Source: The Economic Times, Aug 14, 2014

NEW DELHI: To boost the country’s textile exports, the government is exploring new markets by holding shows in Russian Federation, Israel, Eastern Europe, Latin American countries and other non-traditional markets, Parliament was informed today.a

“The Government, in addition to traditional markets like EU & USA, is exploring new markets by holding exhibitions and shows in Russian Federation, Israel, Eastern Europe, Latin American countries and other non-traditional markets,” Union Textiles Minister Santosh Gangwar said in a written reply in Lok Sabha.

Read the rest of this entry »

Textile policy to focus on new export markets

Source: The Hindu Business Line, Aug 04, 2014

New Delhi: With an aim to grab one-fifth of the global textile business and increase exports to $300 billion in the next decade, the Government proposes to rejig labour laws, make special efforts to attract foreign investment and enter new markets with high export potential, such as Japan, China, Brazil and Russia.

The proposals are part of the vision strategy framed by the expert committee on textiles, and will be used as inputs for the National Textile Policy.

“The draft of the National Textile Policy will be placed before the Cabinet for approval after weaving in relevant comments from other Ministries and interest groups,” a Government official said.

Read the rest of this entry »

Indian spirituality merchandise a hit in exports

KOLKATA: Westerners are now lapping up spiritual merchandise through e-commerce platforms, as India is becoming a global spiritual destination say experts.

“Legend has it that chanting mantras using the ‘Jap Mala’ helps bring a positive aura to the mind and body. This age old belief attached to the Jap Mala which is a set of beads that has made its way to customers residing in Europe and US,” Saif Saiyed of Gujarat-based Kabeer Agate Exporters told PTI.

He said that Westerners have become increasingly fascinated by the energy that this miniature product can bring to one’s life.From Anand, they manufacture and export all kind of Arrowheads, Metaphysical, New Age, Esoteric, Dowsing, Reiki, Fengshui, Pagan, Wiccan, Spiritual and Chakra products.

Read the rest of this entry »

Textile policy aims to create 35 million more jobs, $300 billion exports

Textile policy aims to create 35 million more jobsSource: The Economic Times, Jul 29, 2014

NEW DELHI: An expert panel constituted by the government today submitted the draft of the new National Textiles Policy, which aims to achieve US $ 300 billion exports by 2024-25, and creation of additional 35 million jobs by attracting investments.

The blueprint termed as the draft ‘Vision, Strategy and Action Plan’ to revitalize the textiles and apparel industry envisages an additional investment of US $ 120 billion. It was presented to Textiles Minister Santosh Gangwar by Chairman of the Expert Committee Ajay Shankar.

Read the rest of this entry »

India Ranks Second in Global Textiles Exports

Source: IBEF.org, Jun 03, 2014

New Delhi: India has improved its ranking as per the recent data released by ‘UN Comtrade’ in Global Textiles as well aas Apparel Exports. In Global Textiles Exports, India now stands at second position beating its competitors like Italy, Germany and Bangladesh, with China still retaining its top position.

Mr. Virender Uppal, Chairman, AEPC, expressed his happiness over this impressive growth and stated that, “Despite having slow recovery in USA and EU, our biggest traditional markets as well as prevailing global slowdown coupled with sustained cost of inflationary inputs, we made the best possible efforts to reach here. The Government policy of diversification of market and product base has helped us and we ventured into the newer markets, which paid huge dividends. We also leveraged our raw material strengths and followed sustained better compliance practices which attracted the buyers and international brands across globe to source from India.”

India’s share in Global Textiles has increased by 17.5% in the year 2013 compared to the previous year. Currently India’s textiles exports to the world is US$ 40.2 billion. This growth is phenomenal as the global textiles growth rate is only 4.7% compared to India as it has registered the growth of 23% beating China and Bangladesh which has registered 11.4% and 15.4%, respectively.

Total global textiles exports is to the tune of US$ 772 billion with India commanding 5.2% of the share. This growth in the increase in share of the Textiles Exports from India is largely attributed to the growth in the Apparel and Clothing sector as it accounts for the almost 43% of the share alone. The Apparel Exports ranking has also improved from 8th position in 2012 to 6th position in 2013. India’s apparel exports, was to the tune of US$ 15.7 billion in 2013, as against US$ 12.9 billion in 2012. Among the top five global clothing suppliers except for the Vietnam; India’s Apparel Exports growth was highest registering 21.8% growth during the year 2013. Apparel exports from India accounts for 3.7% of share in the global readymade garment exports.

Mr. Uppal, while lauding the efforts of the apparel exporters, conveyed his concerns also that while Industry is actually itching to do more, stressed that, “The availability of specialty fabric is a big bottleneck for which AEPC has been aggressively demanding 5% duty scrip for the imports of fabrics. It must be considered favorably by the new Government to boost India’s apparel exports. Garment exporters may be permitted to import it with 5% duty scrip on the input, so as to increase exports and optimally use to the fullest extent our potential. The rising interest rate is another issue which hampers growth for which AEPC once again has put in its request to the Government for a Separate chapter for pre and post shipment export credit at fixed rate of 7.0% interest, as was done in the past also to the apparel export sector and treat Readymade Garment as the priority sector lending. As the Government is contemplating new Union Budget and Foreign Trade policy, I earnestly request Government to concede these two demands of RMG sector utmost priority.”

Increasing labour cost in China, non-compliance of large number of factories in Bangladesh provide India a big opportunity in view of its relative advantage, risk appetite of Indian entrepreneurs and a small push from the Government may help India to get more business as overseas buyers are looking at India as safe and reliable option for the sourcing. But to capture the space in market left by China and Bangladesh, we have to be competitive in pricing, apart from meeting strict timelines, better quality delivery by Indian exporters and therefore, Government agencies active support is very crucial. AEPC is pushing in this direction to seek export friendly enabling environment from the Government, Mr. Uppal added.

Dream Knitwear Technology Mission project to become reality

Source: The Economic Times, Apr 29, 2014

COIMBATORE: The long awaited Knitwear Technology Mission in nearby Tirupur to promote product and fabric diversification and value addition across the apparel value chain, would become a reality from May six.

The Rs 13 crore Mission Center, under the aegis of Apparel Export Promotion Council, would offer necessary services to trade and industry to develop innovative apparel categories for sports wear, swimwear and varieties of performance wear mainly from man-made fibres like polyester and nylon, A Shaktivel, Chairman, KTM, told reporters last night at Trirupur.

Read the rest of this entry »

Textile exports badly hit by delay in release of duty drawback

Source: The Economic Times, Apr 23, 2014

KOLKATA: A large number of textiles exporters are facing a huge financial crunch due to substantial delay in getting duty drawback since the last five months from all the major ports.1

According to Manikam Ramaswami, chairman, The Cotton Textiles Export promotion Council (TEXPROCIL), exporters have been requesting the Customs to release the duty drawback amounts to them, as it is a refund of duties and taxes incurred at the inputs stage on export products. The delay is mainly attributed to non-availability of funds with the customs.

Drawback claims remain pending since September 2013 despite persistent follow up efforts made by the exporters , thereby , adversely affecting cash flows. “Textile industry typically operates between 3 to 5% net profit and delay in receiving the Drawback amounts badly impacts the industry due to funds shortage”, pointed out the chairman, TEXPROCIL.

Expressing concern over the delay, Manikam Ramaswami stated that “Textiles exports are getting impacted due to the Govt’s interest free borrowings from the Industry which exceeds the industry’s annual profit”.

“Ideally, duty drawbacks should be released in two weeks after exports as the textiles mills operate at 50% to 75% of exports on total turnover and if the drawback claims remain pending just because of Custom’s collection target, then it is a serious issue and should be addressed at the earliest”, according to Mr Ramaswami.

Govt expects to surpass target under new textile policy

Textile policySource: Business Standard, Dec 25, 2013

Ahmedabad: At a time when the cotton and man-made fibre textile mills based on conventional technology are closing down, the Gujarat government is banking on its textile policy and restructured Textile Upgradation Fund Scheme (TUFS) for reviving the ginning and spinning sectors.

As against a target of adding 2.5 million spindles in next five years under the Gujarat state textile policy, the government is now expecting to add 4 million spindles. The move comes at a time when, according to Ministry of Textiles figures, around 18 mills closed down till October 2013 which had been registered with the BIFR despite efforts to revive them.

Read the rest of this entry »

CCEA approves Rs 500 cr for ‘green’ scheme for textile units

Source: The Hindu Business Line, Oct. 30, 2013

New Delhi: The Cabinet Committee on Economic Affairs (CCEA) has approved an Integrated Processing Development Scheme 1(IPDS) with a corpus of Rs 500 crore to make textile processing units more environment-friendly and globally competitive.

The fund will be used to set up four to six brownfield projects and three to five greenfield projects over the 12th Plan period addressing environmental issues faced by textile processing units, a Government release said.

The eligible projects under the scheme would cover Common Effluent Treatment Plants, captive power generation on technology preferably renewable/green technology, infrastructure such as storm water management, necessary roads and pipelines for water & wastewater and, facility for testing and R&D centres, the release added.

The scheme will support upgradation of existing processing clusters/centres specifically in the area of water and waste water management and also encourage research and development work in the textiles processing sector.

Textiles Ministry wants sops for cotton yarn exports restored

Source: The Economic Times, Oct. 11, 2013

MUMBAI: Ministry of Textiles has sought restoration of incentives for cotton and cotton yarn exports and said despite challenges, the sector is poised for growth.

“We will write to Commerce Ministry over the issue of restoration of export incentives under the Focus Market Scheme (FMS) given to cotton and cotton yarn exporters,” Union Textiles Minister K S Rao told reporters after inauguration of a FICCI-organised conference here.

Commerce Ministry recently withdrew FMS, which was for cotton and cotton yarn exporters, on the ground that India has already got surplus production.

Read the rest of this entry »

Follow

Get every new post delivered to your Inbox.

Join 170 other followers