Textile Briefs International.
1. The fall in export earnings of Bangladesh is due to inadequate performance of the RMG sector. Bangladesh exports to the USA totalled $ 5,846.64 million during the last fiscal (2016-17) compared to $ 6,220.65 million during the corresponding period of the previous fiscal (2015-16).
2. The size of Indian domestic textile machinery industry is poised to hit Rs 32,000-35,000 crore in the next five years from the present Rs 22,000 crore on the back of government initiatives like 'Make in India' revealed Sanjiv Lathia, Chairman International Textile Machinery Exhibitions Society.
3. The global silk market is projected to reach US$ 16.94 billion by 2021, at a CAGR of 7.8% from 2016 to 2021. Silk is witnessing an increase in demand in the Asia-Pacific region, mainly in China. Asia-Pacific is the largest producer of raw silk with the easy availability of raw materials in the region.
4. The clothing industry is a major manufacturing sector of Hong Kong. It is the fourth largest manufacturing employer, with 657 establishments hiring 4,763 workers as of March 2017. Hong Kong's clothing exports saw 10% decline year-on-year in the first five months of 2017.
5. In 2017-18, world cotton production is projected to increase by 8% to 24.9 million tonnes due entirely to an 8% expansion in world cotton area to 31.7 million hectares, which is below the 20-year average of 32.7 million hectares. The world average yield is forecast at 785 kg/ha.
6. Latest Cotton Incorporated Lifestyle Monitor Survey says that 73% of US consumers believed better quality garments are made from natural fibres and 65% of were willing to pay more for it. Most fashion brands are adopting green techniques/designs to increase efficiency and reduce waste in the production process.
7. Starting from May 2017 onwards, the Chinese cotton sales from the state reserves have reached above 1.1 million tonnes. This number has brought down the net volume of cotton held by the government of China, to about 7.2 million tonnes.
8. The Southern India Mills Association (SIMA) welcomed the Centre's move to bring down the GST rate on textile job work from 18% to 5%. All the textile job works, being the manufacturing activities, had been exempted from the service tax in the pre-GST regime, but, the job workers could not avail the input tax credit that had been increasing the cost of the products and affecting the export competitiveness and also the domestic consumers.
9. Myanmar's garment export earnings increased to the US $940 million in the year to mid-October up from the US $409 million in the corresponding period last year. An increase in earnings was mainly because of a rise in exports to Japan and the European Union.
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|Title Annotation:||export of Bangladesh; Indian textile machinery sector; silk market|
|Publication:||Pakistan Textile Journal|
|Date:||Oct 31, 2017|
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