Home / Knowledge / News / Textiles / GEA welcomes steps to control cotton & yarn prices
GEA welcomes steps to control cotton & yarn prices
15
Apr '10
Mr.Rakesh Vaid, President, Garments Exporters Association has welcomed the decision taken by the Government to impose export duty on raw cotton and cotton waste. Mr.Vaid also welcomed the DGFT Notification regarding compulsory registration of cotton yarn exports contracts with the Textiles Commissioner Office.

Mr.Vaid also welcomed the decision earlier taken by the Government to suspend the 7.5 per cent duty concession under the Duty Entitlement Pass Book Scheme (DEPB) on cotton yarn exports to moderate the prices in the domestic market.

Mr.Vaid expressed his gratitude to the Government for the steps taken to control the rising prices of cotton yarn, which have now started yielding results as prices are being stabilized and in some cases they are declining.

The GEA President pointed out that the recent appreciation in the value of rupee against US dollar and EURO has made Indian exports uncompetitive in international markets. As the recent hardening of the rupee has reduced the profitability of exporters, a careful assessment and close monitoring of the exchange rate should be undertaken by the RBI to ensure that financial flows do not adversely affect the exporters, he said.

Mr Vaid said the slow economic recovery in western markets has not resulted in increase of apparel exports out of India. The global economic recession has made importers price-sensitive. At the same time, input and transaction costs of Indian exporters have increased considerably, he said.

Garments Exporters Association


Must ReadView All

US merchandise trade with India, 2012–16; Courtesy: USITC

Textiles | On 27th Jul 2017

India becomes US’ 9th largest trading partner in 2016

In 2016, India became the United States’ 9th-largest single-country...

Textiles | On 27th Jul 2017

GST will lead to further increase of MMF prices

The Goods & Services Tax (GST) rolled out on July 1, 2017 is not...

Textiles | On 27th Jul 2017

Global yarn production improved 30% q-o-q in Q1: ITMF

In the first quarter of 2017, global yarn production rose by almost...

Interviews View All

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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

July 2017

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

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

Yes No

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

Yes No

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


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



X