India Cotton Yarn Exports Increased By 15%, Mainly Affected By Overseas Demand.

As foreign market demand is increasing,

Exports grew by 15% over the previous fiscal year.

According to the data compiled by the General Administration of foreign trade (DGFT) of the Federal Ministry of Commerce (DGFT), the export of cotton yarn in India reached 827 million 680 thousand kg in fiscal year, compared with 720 million kg in fiscal year 2010-11.

India

Alliance Secretary General DK Nair said: the export growth is amazing, indicating that the global textile industry is recovering, although the economy is still uncertain.

The sharp decline in exports to the traditional market indicates that the global economic situation is unstable and clothing demand is decreasing.

China is the largest in the world.

Production countries, however, as China focuses on finished products, especially high value products, China is gradually withdrawing from yarn production.

In this way, Chinese importers continue to improve their dependence on India cotton yarn, thus promoting the export of India's textile raw materials.

Exports are destined to grow this year as orders continue to flow.

In the current fiscal year (2012-13 years), India's monthly export of cotton yarn is expected to exceed 70 million kilograms.

In fiscal year 2011, the government restricted the export of no more than 720 million kilograms to meet domestic demand, because domestic textile mills were in great difficulties.

Although export targets were achieved only in the first three months, the government did not allow exports.

But export is not restricted in the 2012 fiscal year.

According to Nair, restrictions on exports led to a net loss of 110 billion rupees in the spinning industry, otherwise the export may increase and the domestic users' price expectations will be raised.

As a result, many spinning mills were forced to cut production.

There is no new market for yarn export, because imported yarn is mainly used to produce finished products.

At present, the main destinations of India's cotton yarn export are Bangladesh, China, Hongkong, Korea, Turkey, Peru and Europe.

In the past five years, India's cotton yarn exports have been rising and will continue to rise.

According to informed sources, the India government expects to announce the new cotton and cotton yarn policy before the start of the new cotton year (-9 October).