YarnsandFibers News Bureau, 2016-01-12 – Ahmedabad
India has its strength in the value-added, hand-embodied, casual fashion garments consisting of small orders, whereas China has its strength in high value, basic garments. The depreciation of Yuan, if continued further, after yarn, the Indian apparel exporters would face a potential threat as both the countries have access to the common markets of US and European Union, according to Rahul Mehta, President International Apparel Federation and Clothing Manufactures’ Association of India.
Already, till December, apparel exports had been growing at a rate of 7-8% against the anticipated 13-15%. Much of the fall in exports growth rate is being attributed to decline in Indian apparel exports to markets like China, Europe and the US due to overall economic slowdown.
New textile policy await Cabinet approval
YarnsandFibers News Bureau, 2016-01-12 – New Delhi
Textiles Ministry to seek approval for the new national textile policy from Cabinet for which they will be approaching the Cabinet in 10-15 days, said Union Minister Santosh Gangwar today.
The new policy aims to achieve USD 300 billion textiles exports by 2024-25 and envisages creation of additional 35 million jobs.
The policy also aims to address concerns of adequate skilled work force, labour reforms, attract investments in the textile sector, and to provide a future road map for the textile and clothing industry.
Ministry of Textiles had initiated the process of reviewing the National Textile Policy, 2000 keeping in view the various changes in textile industry on domestic and international fronts and the need for a road map for the textile and apparel industry.