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Maharashtra approves textile policy for 2018-23
The Maharashtra cabinet has approved a new textile policy for 2018-2023 to attract investment of Rs 36,000 crore and generate 10 lakh jobs. Reducing power tariff and raising capital subsidy for spinning mills are two key aspects of the policy, which takes forward the ‘Make in Maharashtra’ idea to strengthen the cotton industry and silk business.
Vietnam’s cotton imports soar in Jan 2018
Cotton imports by Southeast Asian nation of Vietnam have surged by around 50 per cent in January 2018, compared to the same month of the previous year, according to data from the country’s ministry of industry and trade. The US, followed by India, Australia, Brazil and Ivory Coast were the major suppliers of white fibre to Vietnam during the month.
Customs duty on silk fabrics doubled to 20%
Finance Minister Arun Jaitley proposed doubling of customs duty on silk fabrics to 20 per cent to provide adequate protection to domestic industry. According to the Budget 2018-19, customs duty on silk fabrics has been raised from 10 per cent to 20 per cent. Silk exporters, however, said the move would hit shipments of silk garments from India.
ColorJet printer with Japanese Technology
The digital printer is apt for printing with pigment inks, and can print practically on any type of fabric including polyester, cotton, silk, viscose, rayon or wool.
Shree’s unprecedented growth of garments made with Liva
Shree – The Indian Avatar has observed almost 1,500 per cent growth in demand for its garments made from Liva fabrics. Owing to the rise in demand of Liva, the new age fluid fabric from the Aditya Birla Group, Shree now boasts a production of 2,50,000 garments per month made from Liva from just 15,000 garments per month.
Vietnam eyes $34 bn garment export
Vietnam’s textile and garment industry has targeted a year-on-year increase of 10 per cent in export value to $34 billion in 2018 despite difficulties in markets at home and abroad, according to Le Tien Truong, General Director of the Vietnam National Garment and Textile Group (Vinatex). He recently reported Vinatex’s performance at a meeting in Hanoi.
Textile export from Vietnam to hit $31 bn
Despite facing difficulties, the garment and textile sector in Vietnam is expected to export products worth $31 billion this year, a year-on-year increase of 10.2 per cent, and the outlook is bright for next year too, the Viet Nam Textile and Apparel Association (VITAS) has said.