Recent Developments In Cotton And Textiles In The International Market

India's textile export target is set at US $40 billion 500 million, but the textile industry is worried that they will not be able to achieve this goal by September 26, 2012.

The garment export promotion council (AEPC) asked the Ministry of textile industry to increase the proportion of domestic purchases of multi brand retail, from 30% to 50%.

The committee wrote to the textile department last week to suggest an additional 20% increase in the proportion of exporters' purchase.

In order to benefit from multi brand retailing in India, the India government stipulates that the domestic market share is 30%.

Small and medium-sized enterprises will take advantage of this advantage.

In order to make full use of the advantages of domestic procurement, the committee recommends that the government authorize an increase of 20% in the proportion of domestic purchases from the existing clothing export companies.

Due to the current economic crisis in the euro area and the United States,

Exporters are now facing a slowdown in growth. The euro zone and the US are India's largest export markets.

In the current fiscal year, India's export target was set at US $40 billion 500 million. The industry is worried that they will not be able to achieve this goal, and exports will probably remain unchanged from last year.

In the last fiscal year, textile exports amounted to US $34 billion.

In June, the export of clothing in India decreased by 10.5% to 1 billion 100 million US dollars, due to the sluggish export demand.

According to the garment export promotion committee, it exported 1 billion 200 million US dollars in the same period last year.

US cotton export net contract nearly 30 thousand tons

According to the US Department of agriculture (USDA) released in September 27th, the US cotton export weekly, September 14th -9 20 this week, the United States 2012/13 annual net sales of cotton is 29597 tons.

Among them, there are more mainland China (12451 tons), Turkey (7326 tons), Mexico (5693 tons), Indonesia (1588 tons), South Korea (1452 tons) and Peru (1383 tons).

Signing the new cotton 2563 tons in 2013/14, mainly sold to Mexico (5216 tons) and Turkey (4491 tons), while Thailand cancelled 7144 tons.

Shipment of 34383 tons during the week is mainly for mainland China (16466 tons), Mexico (3402 tons), Turkey (2313 tons) and Taiwan, China (2223 tons).

Mainland China signed a net contract of 12451 tons a week, a decrease of 36% from last week, accounting for 42% of the total contracted volume, and 16466 tons of shipment, down 22% from last week, accounting for 48% of the total freight volume.

Pakistan textile exports to the EU increased by 30%

As the EU has given Pakistan 75 products, mainly textiles and clothing, and won the EU's tariff free access, Pakistan's textile exports to the EU have increased by 30%.

Rana Arif Tauseef, President of the Pakistan Textile Exporters Association (PTEA), said that optimizing the use of existing capabilities could increase Pakistan's textile and clothing exports by 30-40% or from 700 million US dollars to 1 billion US dollars.

According to PTEA, according to the current tax system, 75 products have been granted tariff free access to the EU.

The amount is about 1 billion 400 million dollars, accounting for nearly 27% of Pakistan's total export volume to US $5 billion 100 million.

Therefore, these products have great room for growth under the help of tax-free system.

Finally, he urged the government to make full preparations for the EU's universal preferential system (GSP) +.