Upgradation of powerlooms- MoT
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Consumption Projected in 2018 / 19- ICAC
USA: Although China’ s tariffs on US cotton helped drag international prices down from June’ s season-high of 101.7 cents per pound, strong demand in Asia and Southeast Asia has helped them rebound by the beginning of August. Usually, high prices drive an increase in cotton cultivation, but lessthan-ideal environmental conditions and a lack of available water are projected
to cause a reduction in planted area for many of the world’ s top producers in 2018 / 19.
Sour trade relations between China and the USA show little signs of improving, and could even deteriorate further in the near term, potentially causing major shifts in global trade patterns.
China’ s 25 % premium could prompt the USA, the world’ s largest exporter, to seek new markets for its fibre, while other major exporters such as Brazil are expected to fill the void by increasing their shipments to China, the world’ s largest importer.
The Global production has
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increased 16 % to 26.87 million tonnes in 2017 / 18, with increases expected from all major producers: India, China, USA, Brazil, Pakistan, West Africa, Turkey, Australia and Uzbekistan.
Those increases, however, are the result of expanded plantings and favourable weather conditions, as global yields posted a marginal increase of 1 %.
The Global production for the 2018 / 19 season is currently projected at 25.9 million tonnes, which would represent a 4 % decrease. Global consumption, on the other hand, is currently projected to increase 4 % to 27.5 million tonnes.
With global consumption at an all-time high, pressure on stocks is expected to reduce global reserves by 1.6 million tonnes to finish the 2018 / 19 season at 17.7 million tonnes.
Stocks in China are projected to decrease for the fifth consecutive year to 7.5 million tonnes, while stocks outside are expected to remain stable at 10.1 million tonnes.
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Upgradation of powerlooms- MoT
New Delhi: The Government is implementing Power Tex India, a comprehensive scheme for power loom sector development.
Under the scheme, existing plain powerlooms are upgraded to semiautomatic and shuttleless looms to improve quality and productivity, by providing financial assistance to powerloomunits. So far, more than 2.16 lakh looms have been upgraded in the country under the in-situ upgradation component of the scheme.
For implementing Amended Technology Upgradation Funds Scheme( ATUFS), a comprehensivei-TUFS software has been developed.
Through the iTUFS software, the beneficiary units can directly upload their applications. The beneficiary units can also track their application at each stage of the process.
India is the second largest exporter of textiles in the world. During 2017-18, India exported cotton textiles volume at USD 1854 million to Bangladesh and USD 1020 million to China. During 2013-17, man-made fibre( MMF) exports of China have grown at a CAGR of 2 %, while India’ s MMF exports have grown by3 % during the same period.
Production |
( in Million Metric Tonnes) |
India |
6.29 |
China |
5.89 |
USA |
4.55 |
Pakistan |
1.80 |
Brazil |
1.94 |
Uzbekistan |
0.80 |
Others |
5.44 |
Total |
26.71 |
Drop in order intake for Second Quarter- ACIMIT
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Mumbai: The order intake index for textile machinery compiled by ACIMIT, the Association of Italian Textile Machinery Manufacturers, for April-June 2018 period fell by 15 % compared to the same period for 2017. The index value stood at 103.4 basis points( 2015 basis = 100).
This drop affected both the domestic and foreign markets. In Italy, the index stood at an absolute value of 141.4 basis points, i. e. 13 % less than for the period of April-June 2017. For foreign markets, sales fell by 14 % and the index stood at an absolute value of 99.6 basis points.
As ACIMIT’ s president Alessandro Zucchi confirms,“ Surely the global market for the sector has tended to settle somewhat. After two years of significant investments, textile manufacturers are now tightening up. However, growth margins still exist in a variety of Countries.”
This fact appears even more relevant for Italy’ s domestic market where, although registering a drop with respect to 2017, the order intake index for the second quarter has shown growth compared to the corresponding value for the year’ s first quarter.
" Following an initial period of uncertainty, the confirmation of fiscal incentives for 2018 have helped re-launch investments in advanced technologies by Italian textile companies," states Zucchi.