Home / Knowledge / News / Textiles / Bangladesh govt supports domestic spinners, weavers
Bangladesh govt supports domestic spinners, weavers
15
Nov '11
The Bangladesh Government has doubled the cash incentives for garment exports to help the domestic spinners and weavers who have been hit by international cotton market volatility.

The cash subsidy has been raised to 10 percent from the earlier 5 percent to support the spinners and weavers whose competitiveness has badly suffered in past few months due to global cotton market volatility, the Bangladesh Bank said.

However, only the Bangladesh Textile Mills Association (BTMA) members will benefit from the cash incentive, either for overseas export or domestic supply in the current fiscal, according to the central bank.

The cash subsidy would also be made available on export of garments prepared from domestically procured yarn or fabrics. A drop in sales of yarn and fabrics alongside a fall in cotton prices and relaxation in its Rules of Origin (RoO) by the EU in January this year adversely affected the competitiveness of the weavers and spinners in Bangladesh.

The 30-count yarn, which is consumed extensively and which was being sold at around US$ 7 per kg a few months back, is now being sold at almost half the price at around US$ 3.5 per kg, following which the spinners are suffering losses.

RoO relaxations have also resulted in a major fall in demand for domestic fabrics, as domestic garment producers prefer to import fabrics so as to avail the 12.5 percent duty benefit that the Eurozone offers under the Generalized System of Preferences (GSP).

The Government would subsidise those importers who imported expensive cotton during August 2010 to March 2011. Though industry experts see this as a welcome move, they believe that the incentive would not prove sufficient to mitigate the losses suffered by the spinners and the weavers.

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Ministry of Trade and Industry, Singapore

Textiles | On 22nd Feb 2018

Final version of CPTPP pact released; to be signed in March

The final version of the Comprehensive and Progressive Agreement for...

Amazon India crosses 3 lakh seller base in less than 5 yrs

Apparel/Garments | On 22nd Feb 2018

Amazon India crosses 3 lakh seller base in less than 5 yrs

Amazon recently claimed to have crossed the three-lakh seller base in ...

Indian e-retail market may see 250% growth in 3 yrs: Crisil

Apparel/Garments | On 22nd Feb 2018

Indian e-retail market may see 250% growth in 3 yrs: Crisil

India’s e-retail market may rise by 250 per cent in the next three...

Interviews View All

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search