Home / Knowledge / News / Textiles / Chinese buyers sign MoUs for Indian cotton and cotton yarn
Chinese buyers sign MoUs for Indian cotton and cotton yarn
Sep '13
Chinese buyers have signed MoUs with Indian companies for procurement of cotton and cotton yarn worth US$ 93 million at an India-China Business Matchmaking Symposium for promoting exports from India to China held in New Delhi.
Department of Commerce of India, in co-ordination with the Chinese Ministry of Commerce, is currently facilitating visit of a Chinese business delegation to India to explore procurement opportunities with their Indian counterparts and companies.
The Chinese delegation comprising of representatives from 27 national level Chinese companies, including textile firms, is being led by Mr. Jia Guoyong, Vice Director General of Trade Development Bureau, Ministry of Commerce.
A total of 15 MoUs between Indian and Chinese companies, worth US$ 338 million, were signed at the symposium, in a structured process of procurement of Indian products. Purchase of cotton yarn and cotton linter worth US$ 93 million was among the prominent MoUs signed during the symposium.
From the Indian side, nearly 60 companies from varied sectors attended the Symposium, which was followed by around 150 B2B meetings interactions between Indian and Chinese enterprises during the day-long event.
The visit of 50 member buyers’ delegation from China is a step taken subsequent to the understanding reached between the leadership of India and China during the visit of Chinese Premier Li Keqiang to India in May 2013 to reduce India’s deficit in trade with China which surpassed US$ 40 billion in 2012-13.
India’s trade deficit with China is a matter of concern and should be addressed appropriately to sustain the growth of bilateral trade on a long-term basis, Mr. Asit Tripathy, Joint Secretary, Ministry of Commerce, said in his address to the Inaugural session of the Symposium.
Mr. Jia Guoyong said the initiative to encourage imports from India is going to be a long-term policy and this would be backed by measures like reduction in tariff, etc., according to a press release from the Confederation of Indian Industry (CII), the local co-organizer of the event.

Fibre2fashion News Desk - India

Must ReadView All

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Pakistan's Finance Minister Mohammad Ishaq Dar presenting Budget 2017-18 in National Assembly in Islamabad on May 26. Courtesy: PID, Pakistan

Textiles | On 27th May 2017

Pakistan Budget 2017-18 proposes 4 new measures

To support the textile sector in Pakistan, finance minister Mohammad...

Textiles | On 27th May 2017

Indian exports can touch $325 bn in 2017-18: FIEO

Indian exports are on upward trend in last few months as the country...

Interviews View All

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Poojaa Kumar Deepak

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

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
May 2017

May 2017

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


Browse Our Archives


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