Textile Market News

The Wool and Woolens Export Promotion Council (WWEPC), led by chairman Romesh Khajuria and Executive Director Suresh Thakur, hosted a gathering on December 27, 2024, at Udyog Bhavan, Ministry of Textiles. The event focused on blending hemp and wool to establish India as a leader in sustainable textiles. Key stakeholders, including Karan Sarsar (Awega Green Technologies), Shripat Jagirdar (Weaving Vibes), Shridhar Jagirdar (Karishma Exports), and agriculturist Kanika Sood, highlighted the potential of hemp-wool textiles in meeting global demand for eco-friendly fabrics.

India has launched investigations into alleged dumping of two Chinese products: trimethyl dihydroquinoline (TDQ), a chemical used in the rubber industry, and nylon filament yarn. The Directorate General of Trade Remedies (DGTR) is examining if imports of nylon filament yarn from China and Vietnam are being dumped at unfairly low prices, potentially harming domestic producers like Century Enka, Gujarat Polyfilms, and Oriilon India.

Union textile minister Giriraj Singh announced the upcoming PM MITRA Park in Dhar, Madhya Pradesh, is set to attract an investment of over Rs 10,000 crore and generate at least 1 lakh employment opportunities. Singh highlighted the government's vision to position India as a global textile hub, aligning with Prime Minister Narendra Modi’s goal of making the country self-reliant.

Punjab traders are urging a reduction in Goods and Services Tax (GST) rates on fabrics, arguing that the current structure disproportionately impacts the industry. At a recent meeting of the Punjab Pradesh Beopar Mandal (PPBM), concerns were raised about the revised GST rates, which place a majority of knitted sweaters and high-end fabrics in the 18 per cent and 28 per cent tax brackets.

Khargone farmers staged a semi-clad protest at the Krishi Upaj Mandi, accusing the Cotton Corporation of India (CCI) of unfairly rejecting their cotton as substandard. This demonstration followed a four-day pause in CCI’s procurement activities. Although purchases resumed, farmers blocked the mandi gates and voiced their grievances.

Pakistan's textile and clothing exports increased by 10.51 per cent to $7.61 billion during the first five months of the current fiscal year (FY25), buoyed by increased global demand and supply chain disruptions affecting competitors like Bangladesh. Key export categories like ready-made garments, knitwear, bedwear, and towels witnessed significant growth, driven by a 23.10 per cent increase in garment exports and 18.42 per cent growth in knitwear exports.

China's cotton production increased 9.7 per cent year-on-year to 6.164 million tonnes in 2024, according to the National Bureau of Statistics (NBS). This increase was primarily due to robust growth in Xinjiang, the country's main cotton-producing region. Both the area under cotton cultivation and yield per hectare contributed to the production rise. While the total planting area saw a modest 1.8 per cent increase, yield per unit area jumped significantly by 7.8 per cent to 2,172 kg per hectare.

India is taking significant strides to boost its cotton production. The government has introduced high-density planting systems (HDPS) and closer spacing (CS) techniques in key cotton-growing regions, resulting in substantial yield increases. A recent report revealed that HDPS led to a 30.4 per cent average yield increase in shallow soils, while CS boosted yields by 39.15 per cent in medium soils. To further enhance productivity, the government has released new Bt cotton varieties and hybrids suitable for these techniques.