|
Item |
Price |
Unit |
Fluctuation |
|
PSF |
1151.05 |
USD/Ton |
0% |
|
VSF |
2151.90 |
USD/Ton |
0.46% |
|
ASF |
2510.28 |
USD/Ton |
0% |
|
Polyester POY |
1134.73 |
USD/Ton |
-0.71% |
|
Nylon FDY |
2922.53 |
USD/Ton |
0% |
|
40D Spandex |
6122.63 |
USD/Ton |
-1.32% |
|
Nylon DTY |
6032.83 |
USD/Ton |
0% |
|
Viscose Long Filament |
1407.39 |
USD/Ton |
-0.35% |
|
Polyester DTY |
2726.61 |
USD/Ton |
-1.18% |
|
Nylon POY |
2706.20 |
USD/Ton |
0% |
|
Acrylic Top 3D |
1363.30 |
USD/Ton |
0% |
|
Polyester FDY |
3183.77 |
USD/Ton |
-2.01% |
|
30S Spun Rayon Yarn |
2742.94 |
USD/Ton |
0% |
|
32S Polyester Yarn |
1877.61 |
USD/Ton |
0% |
|
45S T/C Yarn |
2938.86 |
USD/Ton |
0% |
|
45S Polyester Yarn |
2906.21 |
USD/Ton |
0% |
|
T/C Yarn 65/35 32S |
2677.63 |
USD/Ton |
0% |
|
40S Rayon Yarn |
2040.88 |
USD/Ton |
0% |
|
T/R Yarn 65/35 32S |
2481.70 |
USD/Ton |
0% |
|
10S Denim Fabric |
1.14 |
USD/Meter |
0% |
|
32S Twill Fabric |
0.96 |
USD/Meter |
0% |
|
40S Combed Poplin |
1.06 |
USD/Meter |
0% |
|
30S Rayon Fabric |
0.77 |
USD/Meter |
0% |
|
45S T/C Fabric |
0.78 |
USD/Meter |
0% |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.16327 USD dtd. 23/07/2015)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
The export target of textiles for the current financial year (2015-16) has been fixed at $47.5 billion, up 14 percent from 2014-15, parliament was told on Thursday. “The export target for the current year has been fixed at $47.5 billion from actual exports of $41.6 billion in 2014-15 targeting a growth of 14 percent,” Textiles Minister Santosh Kumar Gangwar told the Lok Sabha in a written reply. He also said the government is encouraging exports through Merchandise Exports from India Scheme (MEIS), which has recently been modified to include the markets of Bangladesh and Sri Lanka. On technology upgradation in the sector, he said: “There is a budget provision of Rs.1,520.79 crore under Technology Upgradation Fund Scheme for 2015-16, out of which Rs.437.58 crore have been released till date. Request has been made for increasing the outlay.”
SOURCE: The Economy Lead
The Reserve Bank of India regional director S Ramaswami said here on Thursday that the Ichalkaranji textile sector should look towards branding to add value. "The textile sector from Ichalkaranji should go for branding itself across the country and abroad. There are several schemes of the government and banking sectors for starting business, they will not only benefit through such branding but prosper as well," Ramaswami said. Outsourcing the jobs of international brand is a good thing, but branding would add more value to it, he added. The regional director was speaking at a Town Hall Meeting organized by the RBI and Bank of India. It was the first such meeting to be held in the city. The purpose of the meeting was to bring together banking officials, businessmen and RBI officials to impart new policies of the Union government to promote business in the country. Ramaswami said, "Some clothes are made in Ichalkaranji but they are sold by the branded company at a much higher price. Why not create Ichalkaranji as a brand of ready-made clothes. The banks are there to assist with funds and credit supply as per the requirement."
Explaining the reasons behind holding such an event in Kolhapur, he said, "The union government has decided to push for local entrepreneurship and additional funding for people with business potential. Hence, a direct dialogue with the local businessmen who are interested in diversification or expansion will benefit out of it. Ultimately, we want to increase the employment through private sectors and new business activities across the country. Kolhapur being rich in agriculture and agro-processing, we have decided to concentrate on the district." Rajendra Chouhan, general manager of Bank of India said, "Small and medium industries are growing faster. All we need to do is to facilitate them with funds in short time. These people should not get frustrated in waiting for loan sanctioning." District collector Amit Saini was invited for the function as well. He said, "This is one of the richest districts in the state, which underscores the potential of the people to seek credit and capacity to pay it back from time to time. Agriculture based industry has a huge scope in this district such as jaggery, honey collection and fishery as well. The district is also known for high level consumption of fish, mutton and chicken. If this opportunity is exploited with business sense, there is huge scope for it." He also pointed out the recently introduced schemes under the name Shishu, Kishor and Tarun where credit supply is divided into various categories. A loan amount as low as Rs 50,000 is also available through such schemes, he said.
SOURCE: The Times of India
To attract more investments ahead of the Global Investors Meet, the Tamil Nadu government will come up with a new textile policy in the next few days. The Handlooms and Textiles Department is studying the textile policies of States like Maharashtra, Gujarat and Madhya Pradesh and evaluating the financial and legal aspects. “Members of the textile industry have requested for an updated textile policy and we are working on it. It is under examination now,” said a senior official who wished anonymity.
Recent trends
On Wednesday, the Ministers concerned and representatives from the textile sector had a meeting here in which requests were made to have a policy on a par with recent trends in the sector. Sources who attended the meeting said the revised policy could come before the commencement of the Global Investor Meet scheduled for September 9 and 10. As part of the GIM, 12 focus sectors have been identified, one of which is the textiles and apparels sector.
Tax concessions
Minister for Handlooms and Textiles S. Gokula Indira said the government was planning to introduce suitable tax concessions and the single window system for the approval of the investment proposals. Tamil Nadu is one of the leading States in the textile sector and it houses the country’s largest spinning industry accounting for almost 80 per cent of the total installed capacity in India. When it comes to yarn production, the State contributes 40 per cent of the total production in the country. There are 2,614 Hand Processing Units (25 per cent of total units in the country) and 985 Power Processing Units (40 per cent of total units in the country) in Tamil Nadu.
SOURCE: The Hindu
In an interview with RIR, Akashdeep Singh, General Director, Vulkan-A discusses the trends in the Russian textile industry.
How would you describe the textile market in Russia today?
The Russian textile market, as well as all the other industries, is undergoing changes. These changes take place both in the purchasing structure and in distribution channels. Of course, the purchasing power in Russia dropped significantly. Many companies are unable to stay afloat. But at the same time this creates new opportunities and clearly demonstrates law of the survival of the fittest. E-commerce rapidly takes hold of all sectors in Russia, particularly of the textile trading. Hard times have come and we notice the reduction of impulse purchases. In October - February our company was experiencing difficulties. But this should be seen as part of a strategy of risk and return on high-growth markets of the world. We are committed to the Russian market, and we will certainly maintain and develop our business in Russia.
Why do Chinese, Korean and Turkish textiles dominate the Russian market? Despite the quality and competitive pricing of Indian textiles, why are they not widely sold in Russia?
India as a textile brand has not established itself in Russia yet. No professional work has been done in this direction, and the responsibility for this lies on both sides. For Russia, it is easier to work with Turkey and China since their systems, infrastructure and approach were focused on Russia, while in India, we were focused on Europe and the United States. There was a time when India had a huge share in the Russian textile sector, which, unfortunately, has reduced. We must work on promoting Brand India in Russia in a broad sense, and this should be done at the government level on both sides. India and Russia have a lot to offer each other, and this cooperation can be among the most financially beneficial ones for both sides.
Do you think such major events such as the St. Petersburg International Economic Forum, can help expand the scale of the Russian-Indian business and eliminate the obstacles that impede the development of business relations?
I believe such forums benefit and promote the development of relations between people. It is good that the political and business leaders meet, but it is also important to be active. India and Russia have traditionally been partners and friends, and it's a shame that trade relations are not growing, and both countries are losing each other's market share. I think it is time that our two countries begin to seriously work on this. I'd really like to see our countries among each other's top three trading partners.
SOURCE: The Russia and India Report
Khadi sales have jumped after Prime Minister Narendra Modi's clarion call last October advocating the need for use of such products, Micro Small and Medium Enterprises (MSME) Minister Kalraj Mishra said today. "Khadi sales have doubled (after Prime Minister Narendra Modi's appeal)," he told reporters here. "People have been drawn towards Khadi after Prime Minister's clarion call to adopt the fabric...We want the supply to match the rising demand. We are looking for ways to increase Khadi production," he added. However, a year-on-year comparison of the April-June quarter showed that retail sales of Khadi increased by 30.37 per cent. Mishra was here to launch an exclusive exhibition cum sale of products from Jammu & Kashmir and Khadi T Shirts.
An analysis of the data revealed that during the April-June quarter, retail sales of readymade Khadi rose 50.68 per cent as against the same period last year. Similarly, woolen khadi sales rose 68.10 per cent, silk khadi sales increased by 33.75 per cent, polyvastra khadi sales rose 59.51 per cent, while handicraft sales rose 3.03 per cent. While talking about more use of Khadi in his Mann ki Baat radio address in October, Modi had said, "If you buy Khadi, you light the lamp of prosperity in the house of a poor person". Besides, asked whether he expects the Bill to amend the MSMED Act to be cleared by Parliament during the ongoing monsoon session, Mishra replied: "It has gone to the Standing Committee. The Standing Committee will present its report during the current session." The amendments to the Micro, Small and Medium Enterprises Development (MSMED) Act are aimed at enhancing the investment limits for MSMEs. The investment limits in plant and machinery for the micro enterprises is proposed to be raised to Rs 50 lakh, of small enterprise to Rs 10 crore and medium enterprise to Rs 30 crore. The existing limit are Rs 25 lakh, Rs 5 and Rs 10 crore respectively.
SOURCE: The Economic Times
In the Goods and Service Tax (GST) regime, the challenge will be on the tax administration to give full input tax credit to businesses for whatever inputs they have bought. In reality, both at the State level and the Central level, there are many impediments in practice before the governments give full input tax credit, according to Parthasarathi Shome, former Chairman, Tax Administration Reforms Commission. He said this on the sidelines of a colloquium on ‘Role of taxation, tax administration and GST’ hosted by the Taxes Department, Kerala, in association with Kinfra.
Reformed regime
“To me as a practitioner, it is the responsibility of the governments to seamlessly provide the input tax credits on input taxes paid by the producers, distributors and retailers. If we can do this, a complex economy such as ours will have a truly reformed indirect tax structure which will surpass that in the Latin America and Asia,” Shome said. “We must congratulate ourselves to some extent in the sense that all are multi-party systems have come together to put up something like this despite all agreements and disagreements. Just look at the State-level Empowered Committee of Finance Ministers. The first chairman was from the CPM; the second was from the BJP; the third from the National Conference; and the fourth from the Kerala Congress.”
Complex environment
So it is quite remarkable that in the backdrop of such a complex environment, these systems are still functional in a technical manner. And all these groups and parties at the State-level combine to stand apart from the Centre and pose questions at the Centre even while agreeing to technical give-and-takes, he said. As to the nitty-gritty of how GST works, Shome said that since the productive activity will be able to make input tax credit, the whole tax system will be based on debit and credit. Those who are paying VAT, Cenvat and service tax already know how to do the input tax credit, which needs training of some sorts. “I think the training is particularly essential in how goods and services will both be creditable against each other in both the streams of Central GST and State GST,” Shome said.
SOURCE: The Hindu Business Line
Seeking to enhance ties, India and Brazil have decided to explore ways to boost cooperation in diverse areas of defence, cyber security, trade and commerce. In their talks in Brasilia, the two sides discussed the entire gamut of relations covering bilateral, regional and multilateral issues if mutual interests. "Directions given by President Dilma Rousseff and Prime Minister Narendra Modi on bilateral and multilateral cooperation at the recently-concluded BRICS summit at Ufa were noted for implementation on a priority basis. "Key areas of cooperation included inter alia trade and commerce, agriculture, environment, peaceful uses of nuclear energy, space, defence, traditional medicine, education, culture, and cyber security," the External Affairs Ministry said here sharing details of the bilateral talks held on July 20. It said both sides agreed to coordinate their efforts within G-4 for UN Security Council reform and decided to work closely together in BASIC for Climate Change, and to re-vitalise IBSA (India, Brazil, South Africa forum).
The Indian side was led by R Swaminathan, Secretary General Americas as well as Consular, Passport and Visa. Swaminathan also met Mauro Vieira, Minister of External Relations of Brazil and requested him to visit India for the next Joint Commission meeting at the invitation of External Affairs Minister Sushma Swaraj. The MEA said the instruments of ratification of the Extradition Treaty between India and Brazil were exchanged during Swaminathan's meeting with Carlos Alberto Simas Magalhaes, Under Secretary General For Brazilian Communities overseas.
SOURCE: The Economic Times
The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 55.39 per barrel (bbl) on 23.07.2015. This was lower than the price of US$ 55.80 per bbl on previous publishing day of 22.07.2015.
In rupee terms, the price of Indian Basket decreased to Rs 3528.90 per bbl on 23.07.2015 as compared to Rs 3544.97 per bbl on 22.07.2015. Rupee closed weaker at Rs 63.71 per US$ on 23.07.2015 as against Rs 63.53 per US$ on 22.07.2015. The table below gives details in this regard:
|
Particulars |
Unit |
Price on July 23, 2015 (Previous trading day i.e. 22.07.2015) |
Pricing Fortnight for 16.07.2015 (June 27 to July 13, 2015) |
|
Crude Oil (Indian Basket) |
($/bbl) |
55.39 (55.80) |
58.69 |
|
(Rs/bbl |
3528.90 (3544.97) |
3730.34 |
|
|
Exchange Rate |
(Rs/$) |
63.71 (63.53) |
63.56 |
SOURCE: PIB
After consecutive two months decline, export earnings from textiles and garments of the island nation of Sri Lanka increased by 7.6 per cent to $392.9 million in May 2015, compared to exports of $365.1 million in the same month last year, shows data released by the Central Bank of Sri Lanka. The increase in textiles and garment exports during the month reflects an increase in exports to the US and non-traditional markets such as Canada, China, UAE and Australia, said the Economic Research Department of the Central Bank in its press release on external sector performance for the month. “However, textiles and garments exports to the EU market declined by 11.8 per cent in May 2015, continuing the declining trend observed from March 2015,” the release said. During the month, Sri Lanka’s import expenditure on textiles and textile articles increased by a significant 16.3 per cent year-on-year, mainly due to the increase in imports of fabrics such as knitted or crocheted fabric, woven fabric of cotton and tyre cord fabric. For the first five months of 2015, Sri Lanka’s cumulative textiles and garments exports stood at $1.981 billion, showing a marginal rise of 0.7 per cent over exports of $1.966 billion made in the corresponding period of last year. Textiles and apparel accounted for about 57.7 per cent of all industrial exports and about 44.3 per cent of all exports made by the South Asian nation during January-May 2015. On the other hand, imports of textiles grew by 10.1 per cent year-0n-year to $974.1 million during the five-month period. Last year, Sri Lankan textiles and garments exports increased by 9.4 per cent year-on-year to $4.929 billion.
SOURCE: Fibre2fashion
Continuing with the ongoing downtrend, Taiwan exported textiles and apparel worth $5.593 billion during the period from January 4, 2015 to June 4, 2015, showing a decrease of 3.64 per cent year-on-year, according to the data from the Taiwan Textile Federation (TTF). According to the data, Taiwan exported $451.522 million worth of fibres during the five-month period, which accounted for 8.07 per cent of all textile exports from the country. Yarn exports earned $853.979 million for Taiwan, while fabric exports fetched $3.763 billion, accounting for 15.27 per cent and 67.78 per cent share in all Taiwanese textile and apparel exports during the period under review.
Apparel exports from Taiwan were valued at $321.770 million, whereas made-ups accounted for $175.251 million. Vietnam and China were major markets for Taiwanese textiles with these countries importing goods worth $1.110 billion and $1.053 billion, respectively, during the period under review. Region-wise, the EU-28 nations imported $251.451 million worth of textiles and garments, accounting for 4.5 per cent share of all textile and clothing exports made by Taiwan during the period, while the US imported goods valued at $432.951 million, contributing 7.74 percent to Taiwanese exports.
Bulk of Taiwanese textile and garment exports were destined to the neighbouring Asean region, which imported $2.038 billion worth of products, accounting for 36.44 per cent share in all Taiwanese exports. During the same period, Taiwan’s textile and clothing imports stood at $1.665 billion, registering a growth of 5.06 per cent year-on-year. Around 48 per cent or $800.904 million worth of imports belonged to the apparel category, whereas fibre imports accounted for $269.425 million, yarn $211.823 million, fabric $234.001 million, and made-ups $148.966 million.
SOURCE: Fibre2fashion
Voicing concern over persisting water shortage in all industrial zones of the city, Federation of Pakistan Chambers of Commerce and Industry's (FPCCI) former vice president Gulzar Firoz has apprehended that if the situation continued to persist, it will lead to closure of many textile processing units, "Production of a number of textile processing units has already declined considerably in the wake of acute water shortage," he added. Firoz, who is also former chairman of PTA and KATI, said that the country will suffer badly in case exports orders were either cancelled or delayed. Urging the authorities to save the textile processing units from being closed down, he opined that Sindh government could help resolve the lingering issue of water shortage by setting up Reverse Osmosis (RO) plants on war-footing basis in all industrial areas of the metropolis.
Another industrialist claimed that more than 50 per cent industries of the city, including export-oriented industries, have been incurring huge financial losses in the wake of persisting water shortage. "Reputation of the country will be at stake if the industries failed to honour their commitments concerning export orders," he added. Criticising the authorities concerned for not providing required quantity of water to the industries, he said that cost of production had increased manifold as in the absence of water supply they have no choice but to purchase water from tanker mafia at exorbitant rates. He demanded of the KWSB managing director to restore water supply to all the industries of Korangi on priority.
SOURCE: The Business Recorder
Hundreds of China's textile and apparel makers helped kick off the International Apparel Sourcing Show on Tuesday in New York. A record number of Chinese companies are participating－up 30 percent from last year－as they look to establish new niche markets in the United States. "More Chinese brands are on display this year. Most of them used to focus on the domestic market earlier and are now focusing on the US market," said Sun Ruizhe, vice-chairman of the China National Textile and Apparel Council. "They are supposed to offer more good options for the US business partners." The show, which is being held at the Jacob K. Javits Convention Center in Manhattan is on till Thursday. It has attracted more than 600 Chinese companies and about 1,000 companies from more than 20 countries, which are displaying products including clothing, fabrics and home textiles. Sun said China's textile and apparel industry has been restructuring in recent years, and more Chinese companies are starting to focus on the overseas market, in part due to the relative saturation of the market in China. The show, in its 16th year, is jointly organized by the China National Textile and Apparel Council, CCPITTEX and Messe Frankfurt US.
Zhang Qiyue, Chinese consul-general in New York, said: "I am glad to see the big presence of Chinese companies at the show, which indicates promising prospects for China-US trade and economic cooperation in the textile and apparel industry. I am confident the trade show will facilitate cooperation." She said China's textile and fabric industries significantly contribute to US-China bilateral relations. From 2000 to 2014, bilateral textile and apparel commerce grew from $6.2 billion to $46 billion. "This year is particularly important for China as well as the United States, as President Xi Jinping will pay a state visit to the US in September," Zhang said. "I am confident this visit will build sustainable results and take bilateral ties to an even higher level."
According to the National Bureau of Statistics, exports from China to the US increased slightly from January to May. In April, exports of textiles and apparel to the US increased by 7.8 percent. However, industry insiders said the business in the US is in a rough patch. Zhao Miaoqi, manager of a Ningbo fabric company, said its US orders shrank by 30 percent in 2014. "I'm 75 years old, coming all the way to visit the market to study the reasons behind the slump." Zhao's company started doing business with European brands like Zara and Adidas in the 1980s. "I like doing businesses with the US; the market is usually steady", and people can be trusted, Zhao said. Deng Zhijuan, an officer from a Shanghai company, said: "As business is not as easy as before, customers are becoming savvy and even picky about prices and services. "We have to upgrade services and offer new products more often to retain customers." She said that the demand for high-priced fabrics such as silk has decreased, while synthetic fabrics like viscose and rayon polyester are more popular in the US market. Winter collections were also showcased at the show. Jiangsu Sainty Fortune, a State-owned company, has brought its winter collection to New York. "The US and Canada now contribute more than half of our business," said Deng. "As Europe's economy is going down ... and the US economy is picking up, the market is more significant for us."
SOURCE: The ECNS
Shipments in most of the textile machinery segments experienced declines in 2014. Deliveries of new short-staple spindles fell by 15% from 2013 to 2014. Shipped long-staple spindles and open-end rotors increased by 70% and 2.6% respectively. The number of shipped draw-texturing spindles grew by close to 12%. Shuttle-less looms and new large circular knitting machines also dropped by 14% and 22% year-on-year. In contrast, shipments of flat-knitting machines rose by 31%. These are the main results of the 37th annual International Textile Machinery Shipment Statistics (ITMSS) just released by the International Textile Manufacturers Federation (ITMF). The report covers six segments of textile machinery, namely spinning, draw-texturing, weaving, large circular knitting, flat knitting and finishing machinery. The 2014 survey has been compiled in cooperation with some 110 textile machinery manufacturers after 112 in 2013, representing a comprehensive measure of world production.
Spinning Machinery
Shipments of new short-staple spindles fell by 15% in 2014 year-on-year and more than reversed the increase of 10% in 2013. The level of short staple spindles declined to 9.8 million spindles, the lowest level since 2009 and also lower than the ten-year-average of 10.9 million. Most of the new short staple sindles (91%) were shipped to Asia, whereby shipments fell by nearly 17% year-on-year. Thereby China, the world's largest investor of short-staple spindles, experienced a decline of nearly 29%. Four of the five largest investors for short-staple spindles originate from Asia. Including China these are India, Viet Nam and Indonesia. Shipments to Turkey, the fourth largest investor, increased by 5% in 2014, the third consequetive increase.
Global shipments of long-staple (wool) spindles increased by 70% from 80,800 in 2013 to 137,650 in 2014. That is the strongest increase since 2012. The majority of long-staple spindles (69%) were shipped to Europe. Thereby, shipments to Turkey rose to 67,000 which is equivalent to a share of 49% of global shipments. Within Europe Belarus and Italy came second and third with shipments numbering 21,216 and 10,584 spindles. In 2014, shipments to Asia increased marginally by 0.2% to 29,000 spindles. While North and South America did not receive any shipments of long-staple spindles, shipments to Africa amounted to 432.
Shipments of open-end rotors improved moderately in 2014 by 2.6% after they declined in the previous two years. The number of shipments reached 454,720, the highest level since 2011 and well above the long-term average of 402,669. Nearly 67% of worldwide shipments of open-end rotors were destined for Asia though the pace is declining. Shipments to Asia fell by 13% after declines of 13.9% and 11.9% in 2013 and 2012 respectively. Also, in South America shipments declined (-9.3%). In contrast, shipments to Europe and, especially, North America saw strong increases of nearly 27% and 402% respectively.
Texturing Machinery
Global shipments of single heater draw-texturing spindles (mainly used for polyamide filaments) increased by 76% from 2,600 in 2013 to 4,576 in 2014. With nearly 57% Asia is the region where most of the single heater draw-texturing spindles were shipped to, followed by Western Europe with 20% and South Amercia with close to 15%. In the segment of double heater draw-texturing spindles (mainly used for polyester filaments) the downward trend continued and global shipments fell by 12% on an annual basis to 443,352. However, the pace of decline moderated somewhat compared to 2013 when shipments fell by nearly 30%. Asia's share of worldwide shipments amounted to close to 88%. Thereby, China remained the largest investor accounting for 60% of global shipments.
Weaving Machinery
In 2014, worldwide shipments of shuttle-less looms fell by 14% to 71,667 units, the third decline in a row. Thereby, shipments of water-jet shuttle-less looms dropped by 30% to 24,220, the third fall since 2012. Shipments of air-jet looms also declined though this was the first fall after four years of increases. The number of shipped air jet looms contracted by 19% to 20,176 in 2014. In contrast, deliveries of rapier/projectile looms shipments rose by 14% from 23,828 in 2013 to 27,271 in 2014, the highest level since 2006. As in previous years the main destination of shuttle-less looms was Asia amounting to a share of 97% of worldwide deliveries. Thereby, the percentage of the three subcategories is relatively even. Water-jet looms measure 36% of shipments to Asia, 35% are rapier/projectile looms and 29% are air-jet looms. In Europe and North America 73% and 54% of shipments are for rapier/projectile looms, while the share of water-jet looms is only 7% and 11% respectively.
Circular & Flat Knitting Machinery
Global shipments of large circular knitting machines fell by 22% from 36,575 in 2013 to 28,502 in 2014, the lowest level since 2009. Also for this category Asia is the world's leading investor. Nearly 88% of all circular knitting machines are shipped to Asia and with a share of 60% (close to 17,000 shipments) of worldwide deliveries China is the single largest investor. India and Turkey rank second and third with 2,464 (8.6%) and 1,325 units (4.6%) respectively.
2014 was a good year for the segment of electronic flat knitting machines as global shipments grew by 31% to 46,100 machines. This was the first increase since 2011. Not surprisingly, Asia received the highest share of shipments. Over 85% of all deliveries went to Asia with China being the largest investor with a share of 42% equivalent to over 19,000 units. Including China, four of the five largest investors for flat knitting machines are Asian countries. Second and third are Bangladesh (11,312 units) and Viet Nam (1,956). Turkey ranks fourth with 1,879 machines and India fifth with 1,840 units.
Finishing Machinery
The 2014 edition of ITMF's International Textile Machinery Shipments Statistics included for the nineth time also data on finishing machinery (wovens and knits continuous machinery).
SOURCE: The Global Textiles
Chinese President Xi Jinping has reassured local governments that the economy still enjoys a promising outlook despite downward growth pressure. Xi made the remarks during a discussion with provincial officials after an inspection tour to Jilin from Thursday to Saturday, where he urged the northeastern province to strive for breakthroughs while adapting to the "new normal" of slower economic development. Xi pointed out the Chinese economy is in good condition with unchanged factors, including sound economic fundamentals, remarkable flexibility, huge potential and room to growth. The economy is undergoing steady restructuring with emerging sectors cropping up to lend fresh steam to drive growth, Xi added. "We should be confident that economic growth still enjoys promising prospects," Xi said.
China's economy posted better-than-expected growth of 7 percent in the second quarter of 2015, according to the data released by the National Bureau of Statistics (NBS) on Wednesday. The Chinese economy is entering a new stage of slower but more resilient growth, which President Xi Jinping has called the "new normal." The essence of the "new normal" is not fast growth, but an improved economic structure that relies more on the services industry, consumption, and innovation. The latest data show the services sector has become the biggest driver of economic growth, expanding 8.4 percent in the first half and accounting for 49.5 percent of GDP.
SOURCE: The Global Textiles
