The Indian textiles and apparel market is currently valued
at $40 billion and is growing at 14%. Most of the top global
apparel retailers, such as JC Penny, Nautica, Docker and
Target, have their sourcing network in India, said Textiles
Minister, Mr Dayanidhi Maran. He said Indian textiles and
apparel exports, which is worth $22 billion, is expected to
register a four-fold increase to touch $90-$100 billion in the
next 25 years.
The share of Indonesian domestic textile producers in the
national market is going to plunge to 50% by the year-end,
down from 65% last year, as a wave of cheap imports to hits
the domestic market, said Ade Sudrajat, Deputy Chairman of the
Indonesian Textile Association. The domestic market is now
estimated to be worth Rp 70 trillion (about US$7.42 billion)
by the end of this year.
China's yuan is expected to play a bigger role in regional
trade with the China-ASEAN Free Trade Area (CAFTA) becoming
effective on January 1, 2010. The upcoming CAFTA, which boasts
the largest population among all the world's FTAs (free trade
areas) and allows zero tariffs on 90% of products traded
between China and ASEAN (Association of Southeast Asian
Nations), will quicken the process of renminbi
regionalization, said Xu Ningning, Executive Secretary General
of the China-ASEAN Business Council.
Brazilian textile manufacturer Companhia Providencia has
dusted off plans to set up a nonwoven fabrics plant in
Statesville. The $80 million facility is slated to have 56
employees when production starts during the first half of
2011.
Indian Textiles Minister Dayanidhi Maran asked the
domestic apparel industry to target exporting $25 billion
worth garments by 2012, up from $22 billion recorded in the
last financial year. He said apparel export industry provides
employment to 2.5 million workers directly and 3.0 million
indirectly. The need of the hour is to raise the level of
exports to $25 billion by the year 2012.
Bangladesh’s overall exports grew 10.3 % to $15.56 billion
in the 2008-09 fiscal year, the lowest growth in six years,
following the global slowdown. Earnings from knit textiles
from July to June of the previous fiscal year (2008-09) rose
16.2% to $6.4 billion while exports of woven garments rose
14.5% to $5.9 billion in the same year.
The Indian textiles and apparel industry is expected to
attract much foreign investment in the future, said India's
textile minister Dayanidhi Maran. He said around 60% of Indian
exports is textiles, over 70% of clothing is headed to the
United States and European Union markets and there is an
urgent need to explore new markets.
A Sri Lankan company will expand their apparel accessories
manufacturing industry in the Karnaphuli Export Processing
Zone, Bangladesh. The foreign company, Naturub Accessories
Bangladesh (Pvt) Limited, will invest US $ 10.67 million in
expanding their unit and produce apparel accessories items.
The company will also create employment opportunity for 600
Bangladeshi workers, including 15 foreign nationals.
The Philippine Textile Research Institute (PTRI) has
developed a pre-treatment technology that converts the hard,
coarse and stiff fibers of local plants into soft and pliant
spun yarns, said PTRI Chief Carlos Tomboc. He said with the
fiber pretreatment technology, textile and garments businesses
would be able to use fibers from native plants and use it in
manufacturing clothes and garments.
India's cotton exports in 2009-10 are expected to increase
57% to 5.5 million bales. India, however, is likely to harvest
29.5 million bales of cotton in 2009-10, down from 30.5
million bales estimated earlier, as floods and cyclone damaged
the crop in southern and western part of the country, said
A.B. Joshi, Textile Commissioner and Chairman of Cotton
Advisory Board (CAB)
Indian Industries Association (IIA), a representative body
of small and medium industries, has decided to set up a
textile park in Farukkhabad, famous for textile printing. The
IIA will set up a textile park on 400 acre land in Dheerpur
area for screen printing of textile. This will be the first of
its kind project in the state, said District Udyog Kendra
General Manager Haridwari Ram.
China's 2009-10 domestic cotton production is estimated at
6.8 million tonnes, down 15%, or 1.2 million tonnes, from the
previous year as per a recent report issued by a U.S.
Department of Agriculture
The cotton crop in Australia, the world's fifth largest
exporter, is likely to rise 14% in 2009-10 after good rains
gave farmers the opportunity to plant more dry-land cotton.
Cotton Australia expects around 1.6 million bales to be
produced from the 2009-10 crop, up from 1.4 million bales the
previous year, said Chief Executive, Adam Kay.
The Bangladesh Working Committee of Taskforce on Recession
recommended that the government give 5% cash incentive to
readymade garment exporters and their backward integration
only for new export destinations. The incentive was
recommended at a meeting of the committee for the next five
years. Except EU, the US and Canada, all the export
destinations will be considered as the new markets. At present
more than 90% apparel items are exported to these three major
markets.
The Chinese government increased the ratio of tax refunds
on exported textiles and apparel by three times and introduced
a series of structural adjustments and revitalization plans
for textile industries. These policies have stimulated China’s
textile economy, which at midyear appeared to be bouncing
back. Compared with other parts of the textile industry,
nonwovens and technical textiles are recovering more quickly.
