Textile Industry Updates (From 1st July to 31st July 2019)
1) India’s share in Global Textile Exports
Share of textile sector export in India’s export is reported at 12.9% in 2014-15 and 12.2% in 2018-19.Whereas China’s Share of Textile Export in Global Textile Exports is 33.6% and USA’s export is 6.3% respectively.
2) Bangladesh’s Export posts 10.55% growth, RMG being almost 85% contributor
Readymade garment (RMG) sector has contributed 84.21% or $34.13 billion to the total export receipts.Woven items earned $17.24 billion, registering an 11.79% growth.
3) Vietnam’s cloth import rises 7.6 pct in H1
Vietnam spent over 6.7 billion U.S. dollars importing cloth in H1, posting a year-on-year increase of 7.6 percent.Its largest import market of cloth was China, tailed by South Korea and Japan.
4) Fashion sales in Europe continue to fall in May with a decrease of 2.4%
Fashion retail in the Eurozone contracts its revenues for the second month in a row after falling 4.3% in April.
5) Trade exports from Gujarat accounted for 20.1% of India’s total 2018-19 exports
Gujarat dining the fiscal 2018-19 stood at $59 billion, accounting for 20.1% of India’s total exports as per the Socio-Economic Review (SER).
6) Major Egyptian Textile Industry Investment Announced
The total investment of approximately 1.1 billion euros ($1.25 billion) will be used to modernize spinning, weaving, knitting, dyeing, finishing, printing and cut-and-sew manufacturing.
7) India received highest-ever FDI worth $64.37 billion
In the current financial year (2018-19), the country registered highest ever FDI inflow of USD 64.37 billion.
8) India’s Cotton yarn export falls 35 pct to $696 million in Q1
The export of cotton yarn has dropped 35% in the first quarter of FY20 to $696 million compared to $1.063 billion in the same period last fiscal
9) Apparel imports by European Union increase in May 2019
The region imported 371.79 million kg of garments from across the world which is a 13 per cent jump from 329 million kg imported in April this year.
10) India jumps five places to 52nd rank in Global Innovation Index 2019
India improved its ranking in the global innovation index by five places to 52nd in 2019 from 57th position in the last year.
11) Portugal textile exports to US up 11.25 per cent
Portugal’s textiles and apparel exports to the US in 2018 rose 11.25 per cent over 2017.
12) Vietnam spent $11.4 billion on material imports in first half of year
Cotton imports reached $1.52 billion, fibre $1.23 billion, fabric $6.75 billion and auxiliary materials $1.89 billion.
13) Vietnam Textile and garment exports rise 8.91% in six months
The Vietnam’s textile and garment sector posted a total export revenue of over US$17.97 billion in the first six months of this year.
14) Prices drop in Brazilian cotton market this month
Between June 28 and July 15, the CEPEA/ESALQ cotton Index, with payment in 8 days, dropped 2.2 per cent, closing at 2.6557 BRL per pound on July 15.
15) More woven fabric suppliers needed, says Sri Lanka’s apparel exporters chief
The industry needs more woven fabric suppliers and should enhance the number of overall fabric manufacturers to meet the terms in preferential trade agreements.
16) India May-19 garment exports up 14 per cent
India’s readymade garment exports rose 14.05 per cent in May 2019 compared to the same month last year.