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As a Least Developed Country (LDC),
Bangladesh enjoyed quota- and duty-free access to EU during
the year 2010-11. The exports were nearly $23 billion, out of
which readymade garments accounted for more than 80% of total
export earnings, with 56% of overseas sales in EU markets.
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The Indian technical textiles industry is
projected to grow to Rs.1.4 trillion ($31.4 billion) by
2016-17, with healthcare and infrastructure sectors accounting
for a major chunk of the consumption, according to a research
paper. Currently, the technical textiles industry market was
estimated at Rs 570 billion ($12.67 billion) in 2010-11, said
the FICCI-Wazir Advisors-Ernst & Young Knowledge joint paper.
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Garment Association - Nepal (GAN), the
main body representing Nepali apparel manufacturers and
exporters, has asked the government to push for duty-free
access of Nepali garments to the US, during the Trade
Investment and Framework Agreement (TIFA) talks scheduled to
be held in December 2011.
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During 2011-12, world cotton production
is projected at 26.6 million tonnes, consumption at 24.7
million tonnes, and trade at 8.1 million tonnes. Mill use
during 2011-12 of 24.7 million tonnes is based on latest
monthly data on mill use or imports, combined with IMF
forecasts of World economic growth.
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According to Indian Export Promotion
Bureau (EPB) data, growth of export earnings from jute and
jute goods fell 17% in July-September of fiscal 2011-12 from
34% growth last year. A Bangladesh official blamed
depreciation of the Indian rupee against the US dollar for
affecting the export of jute goods to India, a major
destination for jute exports. Ongoing economic sanction on
Iran and Syria also hurt jute exports in those countries, as
buyers are unable to pay for a shortage of international
currencies.
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During the year 2011-12, India is
expected to produce a record high crop of 35.5 million 170-kg
bales with 8 to 10 million bales surplus to their requirements
and these surplus bales would mostly be exported to India's
neighbouring countries viz: China, Bangladesh and Pakistan.
Indian's most popular variety Shanke-6 has very good demand in
these countries and is found to be competitive and viable in
price and also logistically.
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US apparel imports from China more
strongly fell in volume terms in most categories in the third
quarter this year, with China's share of the US market being
reduced from record highs. The strong decline in overall
imports resulted in lower shipments from most origins, with
very different choices by US sources, depending on product
categories.
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Lu Thai Textile plans to invest 505
million yuan to build a yarn-dyed fabric factory. Once
operational, the facility will have production of 40 million
meters of fabric annually. Lu Thai Textile raised 950.81
million yuan in 2008 and allocated 200 million yuan to the
creation of a sales network. However, the company only
invested 19.25% of that sum in advertising, opening stores,
and online sales over the past three years.
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The Indian Union Minister for Commerce,
Industry and Textiles Shri Anand Sharma has expressed
confidence that India China are on course to achieve the
bilateral trade target of US$ 100 billion by 2015. Trade
between India and China has seen exponential growth in the
last few years. As per the trade statistics of DGCI&S the
total trade volume has gone up from US $ 2.3 billion in
2000-01 to US $ 59.62 billion in 2010-11 (April-March).
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US imports of cotton bed sheet
dramatically dropped in volume terms over the second part of
the year, after prices surged from Asian origins. Shipments in
value terms also declined, reflecting the spectacular impact
of rocketing raw material costs in the home textile industry.
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Indian Hard Currency plans to expand its
portfolio by introducing non-denim categories and increasing
the share of non-denim products in its revenue. As part of the
initiative Hard Currency has recently introduced a collection
of shirts and is also looking forward to increasing the
product portfolio.
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As part of its plan for sustainable
growth in its textile sector, China will focus on ‘quality
rather than quantity’, according to Mr Sun Ruizhe, Vice
President of China National Textile and Apparel Council (CNTAC)
as the country looks to improve the environmental and ethical
profile of its industry and refocus on the domestic sector.
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Yungbang Limited, one of Korea's leading
yarn and fabric manufacturers, has begun construction work on
a new spinning plant in the southern Vietnamese province of
Binh Duong. The new Kyungbang Vietnam facility in the Bau Bang
industrial zone in Ben Cat district represents an investment
of US$40 million and will have a capacity of 6,000 tons per
year.