Search Result for : Cotton Exports

The Dollar Business Bureau  The Vibrant Gujarat Global Summit, one of Prime Minister Narendra Modi's pet initiatives during his tenure as the Chief Minister of Gujarat, is to hold its 8th edition beginning from 10 Jan 2017, at Mahatma Mandir, Gandhinagar. “Connecting India to the World” is the theme for Vibrant Gujarat 2017.  The state of Gujarat is known for its drastic economic rise over the past decade, having garnered investments from across the world in many diverse industries ranging from IT to renewable energy. Just as the words 'breathe in a bit of Gujarat' in Amitabh Bachchan's resounding baritone appeal to millions across the breadth of the country, Gujarat's steady rise among globally known locations for 'ease of business' has made the state an investment magnet.  If this isn't sufficient introduction to Gujarat's ...

The Dollar Business Bureau  India’s cotton production is expected to increase by 3.8% in 2016-17 from a year ago period due to a sharp growth in yield in the aftermath of a favorable monsoon. On Monday, the Cotton Advisory Board (CAB) held a meeting, during which it estimated that the domestic cotton production could reach 35.1 million bales of 170 kg each for the cotton year 2016-17. The cotton year starts on October 1st every year. The output of cotton was 33.8 million bales last year. The total area under cultivation has fallen to 8.61 million hectare in 2016-17 from 10.68 million hectares in 2015-16. But Textiles Commissioner Kavita Gupta assured that this shift might change next year on account of a changing weather pattern. “We are estimating a bumper cotton crop this year because of a better monsoon ...

The Dollar Business Bureau All Pakistan Textile Mills Association (APTMA) has asked its government to stop exporting cotton from Pakistan to India. The industry body is urging to protect the interests of Pakistan textile industry. Cotton exports to India without determination of the crop size for FY 2016-17 will hurt the textile industry in Pakistan, APTMA Chairman Tariq Saud said. The industry has already been burdened with 35% decrease in cotton crop production in the country during FY 2015-16. Due to this, it has been importing more than 4 million bales of cotton for its domestic consumption, he said. Cotton cultivation in Pakistan is expected to decline around 25% in FY 2016-17. This will ultimately result in low crop produce in the country. ...

Deepak Kumar | The Dollar Business Citing the development of textile parks as a key agenda, the government on Wednesday proposed to establish at least three such units in each state to encourage textile production and push exports. “The government has given an utmost importance to selecting ideal locations for these textile parks. We urge the state governments to participate in this mission and promote domestic production. We aim to establish at least three such units in each state to strengthen India’s textile industry,” said Santosh Kumar Gangwar, Minister of Textiles. Last year, the government agreed to establish 22 new textile parks in various states, taking the total number of such facilities to 72. Expressing concern over the challenges faced by the ...

The Dollar Business Bureau Depreciation of the rupee will not have a broader implication on India’s textiles exports but will bring a competitive pressure from China due to devaluation of Chinese currency, according to the Investment Information and Credit Rating Agency of India (ICRA). China’s decision to devalue the Yuan on August 10, 2015, has led to depreciation in the currencies of other apparel exporting countries, including Indonesia and Vietnam. Any fluctuation in their currencies will affect export competitiveness in the market. "As China’s Yuan has depreciated more than the Rupee and given that China enjoys dominant position in international export markets, India will see increased pricing competition which will affect the profitability of Indian exporters," ICRA said in statement. The credit ...

Sai Nikesh | The Dollar Business Reproving the reports that ‘Indian cotton prices have gone up on hopes of fresh export demand’, Indian Cotton Federation (ICF) opined that cotton situation in 2014-15 season that started in October 2014, in all terms, is most likely to remain the same to what it was in 2013-14 season. Speaking to The Dollar Business, K N Viswanathan, Vice-President, ICF, said, “Going by sowing figures and cropping situation till date, Indian cotton prices in 2014-15 season that is going to last till September 2015, is likely to remain around 35,000-35,500 per candy of 355 kg under Shankar-6 variety benchmark, almost similar to what it was in 2013-14.” On reports over occurrence of fresh export demand for Indian cotton, ...

Sai Nikesh | The Dollar Business The global production of cotton in 2015-16 is expected to decline 6% over the previous season to 111.3 million bales, said the United States Department of Agriculture (USDA), in its latest release. By accounting for 26.5% of total production, India is expected to be the leading producer of cotton during 2015-16, the report added. However, according to the USDA’s projections, India’s cotton production during 2015-16 will decline for the second consecutive year and is expected to come down to 37.15 million bales due to delayed sowing, weather and low price realization, among other reasons. Meanwhile, statements by K N Vishwanathan, Vice-President, Indian Cotton Federation (ICF), remain in contrast to the USDA projections. Speaking to The Dollar ...

 The Dollar Business Bureau Higher production and lower global demand has led to a decline in cotton prices in India, but Indian cotton remains highly priced in the international market, according to the Cotton Association of India (CAI). Speaking at the Annual General Meeting of the Association, Dhiren N. Sheth, President, CAI, said last week, “Although the prices of Indian cotton have fallen substantially, they are still not competitive enough to attract foreign buyers.” Moreover, an uptick in demand and arrival of better quality crops have led to an increase in prices in the last few weeks. This means that cotton exports are unlikely to recover any time soon this year. Meanwhile, global demand is expected to remain low ...