Cotton yarn prices further increased by ****;** per kg in the Ludhiana market. Spinning mills are raising their mill rates to pass on additional burden of rising cotton prices. A trader from Ludhiana market told Fibre*Fashion, ““Indian spinning mills are receiving support from export markets as mills in Bangladesh and Vietnam continue to face energy-related disruptions amid the ongoing war situation. As a result, the textile and apparel industries in both countries are increasingly sourcing cotton yarn from Indian spinners.”

In Ludhiana, ** count cotton combed yarn was sold at ****;***–*** (~$*.**–*.**) per kg (inclusive of GST); ** and ** count combed yarn were traded at ****;***–*** (~$*.**–*.**) per kg and ****;***–*** (~$*.**–*.**) per kg, respectively; and carded yarn of ** count was noted at ****;***–*** (~$*.**–*.**) per kg today, according to trade sources.

India and Vietnam yesterday agreed in New Delhi to elevate bilateral relations to an Enhanced Comprehensive Strategic Partnership and set a target of taking bilateral trade value to $25 billion by 2030.

Vietnamese President To Lam is on a state visit to India from May 5 to 7.

India and Vietnam have agreed to elevate bilateral ties to Enhanced Comprehensive Strategic Partnership and take bilateral trade to $25 billion by 2030.
Vietnamese President To Lam is on a state visit to India.
Both sides will facilitate market access and enhance supply chains.
An MoU was signed between the central banks of both sides on cooperation in payment systems and innovation in digital payments.

The two sides agreed to reinforce cooperation between the two rapidly growing economies at the level of governments and businesses for increasing two-way trade, investment and technological partnership, the Prime Minister’s Office (PMO) said in a press release.

Both sides will facilitate market access and enhance supply chains in sectors of mutual interest.

Vietnam affirmed its commitments to diversify its supply sources and to import more products from India to serve its domestic production and export needs, an official release said.

Both sides agreed to explore ways for a more conducive regulatory environment to facilitate ease of doing business for companies of both countries, including in standards compliance certification.

The leaders agreed that the ongoing review of the ASEAN India Trade in Goods Agreement (AITIGA) should be concluded at the earliest.

The leaders agreed to encourage greater two-way investments to further strengthen India-Vietnam economic ties, especially in the fields of high-technology, transport, manufacturing, logistics, renewable energy, smart agriculture and electric vehicles.

They also agreed to strengthen the linkages between the two countries’ start-up ecosystems and encourage substantive cooperation among innovation centres.

A memorandum of understanding (MoU) between the Reserve Bank of India and the State Bank of Vietnam was signed on cooperation in payment systems and innovation in digital payments.

Fibre2Fashion News Desk (DS)

Imports of knitted apparel and clothing accessories (Chapter **) were valued at $*.*** billion in the first three months of ****, *.** per cent higher than $*.*** billion a year earlier. The imports of non-knitted apparel and clothing accessories (Chapter **) totalled $*.*** billion, *.** per cent down from $*.*** billion in January- March ****.

South Korea’s apparel imports decreased by **.* per cent to $***.*** million in March ****, compared with $*,***.*** million in the corresponding month of ****. Imports of knitted apparel and clothing accessories (Chapter **) were valued at $***.*** million in March ****, **.** per cent lower than $***.*** million a year earlier. The imports of non-knitted apparel and clothing accessories (Chapter **) totalled $***.*** million, down *.** per cent from $***.*** million in March ****.