The Synthetic & Rayon Textiles Export Promotion Council

MARKET WATCH 3 NOVEMBER, 2015

NATIONAL

 

INTERNATIONAL

 

Substantive reforms will promote 'Make in India': Alliance for Fair Trade with India (AFTI)

An American trade body focused on India has said that only "substantive reforms" will advance the NDA government's efforts to promote 'Make in India' and attract high value-added foreign direct investment. "Only substantive reforms will advance the Modi government's efforts to promote 'Make in India', attract high value-added foreign direct investment, and move up the economic value chain," Alliance for Fair Trade with India (AFTI) said in a statement. "In a highly competitive global economy, the lack of substantive reforms and movement toward world-class regulatory and IP standards only serves to hinder India's aspirations to rise as a globally-competitive country," said AFTI, which for the past few years has been pushing for reforms in India. In its statement, AFTI also expressed disappointment over last week's India-US Trade Policy Forum meeting.

Dialogues such as the Trade Policy Forum and last month's Strategic and Commercial Dialogue can be critical tools in the effort to find resolution to longstanding concerns, it said. "To be meaningful, however, these dialogues must be more than simply a forum to talk and exchange views. They must result in concrete action to improve the business and investment climate in India," it said. "To date, these dialogues have offered far more talk than action. Last week's Trade Policy Forum is unfortunately no exception," AFTI said. While AFTI is disappointed in this missed opportunity, it is India itself that is hurt the most, it added.

SOURCE: The Economic Times

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Indo-China trade through Lipulekh worth Rs 4.36 crore

A total of Rs 4.36 crore worth trade was solemnised with China through Lipulekh pass this year, an official informed today. The Indo-China border trade, which runs between June 1 to October 31 every year, facilitates the tribal community traders to import Tibetan wool and other materials which are essential parts of their traditional crafts which form their traditional economy. All the Indian traders gone to trade in China on barter basis have reached Indian territory from Tibetan mart at Taklakot today. "According to initial data, the total border trade with China from Lipulekh pass, Uttarakhand, this year was at Rs 4,36,54,187, out of which Indian traders exported goods worth Rs 1,60,42,132 and imported goods worth Rs 2,76,12,055 from Tibet," Said PS Kutiyal, trade officer at Gunji, the Indian mart of the trade. According to Kutiyal, over 190 persons, including 77 traders have gone to Tibet for trade this year. The Indian traders have said that due to dull initial responses from Tibetan clients, the trade could not pick up in the beginning but later on the situation improved in October.

SOURCE: The Economic Times

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Sharjah's Expo Centre looks to strengthen Indian partnership

Taking advantage of the growing bilateral cooperation between the UAE and India, a trade fair centre in Sharjah is hoping to strengthen its partnership with the Indian manufacturers of the latest machinery and allied products. The Expo Centre team, led by its CEO Saif Mohammed Al Midfa, recently visited New Delhi and Mumbai and met senior executives of the All India Plastics Manufacturers Association (AIPMA) and Indian Printing, Packaging and Allied Machinery Manufacturers' Association (IPAMA). Expo Centre Sharjah organises the biennial Plastivision Arabia and the Print Pack Arabia trade shows jointly with AIPMA and IPAMA, respectively. "Bilateral relations between the UAE and India are fast gaining momentum and we could feel the eagerness at all levels during our meeting with both AIPMA and IPAMA. We are glad that we could find common ground in enhancing our partnerships and as a result we are expecting a much bigger Indian participation for the upcoming Plastivision Arabia and Print Pack Arabia shows," said Midfa. The third Plastivision Arabia 2016 and the second Print Pack Arabia 2016 will be held concurrently at Expo Centre from 22 to 25 February. The Expo Centre visit comes at a time when the UAE and India are working closely to increase their two-way trade by 60 per cent in five years.

Currently, India is the UAE's second largest trade partner after China, with trade crossing USD 59 billion in 2014-15. The two countries have also agreed to boost UAE investment in India to the tune of USD 75 billion, while India is looking at resuming free trade agreement talks with the GCC. "India today is a formidable player in the plastics industry. Some of the best quality equipment are being made here. It is also a leader in producing and supplying innovative polymer products and materials to the world. The GCC and the Middle East are attractive markets for Indian makers of the latest machinery, equipment and allied products for the printing and packaging industry," said Midfa.

SOURCE: The Economic Times

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Government asks exporters to set up warehouses to push trade with LatAm

In line with its plans to boost exports to Latin America, New Delhi has asked exporters to create a supply chain through backend operations and logistics. According to sources, government has asked exporters to create warehouses wherever necessary to plug the transportation gap. The Export Promotion Council for Handicrafts (EPCH)  has undertaken various initiatives to promote the export of handicrafts in the Latin American region through participation in several trade shows. The EPCH has been holding shows like Indian Handicrafts and Gifts Fair to create  brand image of Indian handicrafts and to attract buyers. There has been a steady growth in the export of handicrafts items from India to Latin American region. Currently, exports to the region stands at $ 60.40 million in 2014-15.

Continuing with the initiatives in the continent, the council earlier this month had decided to set up a warehousing facility at Montevideo, Uruguay. Talking to FE, EPCH executive director Rakesh Kumar said: “The warehouse will help facilitate export of handicrafts items in the region by developing the concept of availability of ready stock and encouraging spot orders. As Montevideo has the free port in the South American region, the warehouse facility has very high relevance for the Indian exporters.”

The port of Montevideo is located on river plate and is geographically positioned as the main cargo transport route of Mercosur (the Southern Common Market). Mercosur is composed of six sovereign member states: Argentina, Bolivia, Brazil, Paraguay, Uruguay and Venezuela. Mercosur offers a huge market for the exporters and having a warehousing facility at Uruguay opens door for them to the highly lucrative Mercosur region. “Montevideo is a free port having excellent location with competitive advantages (in terms of natural characteristics and infrastructure),  services and investment opportunities.All South Amercian countries are at a 2 hours flight from Montevideo.  The goods made available through the warehouse  would be FOB Montevideo,” said Kumar.

Meanwhile, the setting up of a warehouse comes ahead of a proposed visit of Uruguay’s president Tabare Vazquez next year. The move is seen as an effort by Uruguay to increase its trade opportunities and access new markets, given the current difficulties to forge an agreement with the European Union. Rodolfo Nin Novoa, Minister of Foreign Affairs, Uruguay, who was in New Delhi recently, said that the private sector has a key role in broad basing India-LAC (Latin America and the Caribbean) trade and investment relations. He pointed out that while there are some challenges in the way of accelerating bilateral trade and investment flows through deeper bilateral cooperation, challenges can be turned into partnership opportunities.

Keeping in view of the increasing complexities in the global economic environment, Novoa underscored the need for India and LAC to enhance inter-dependence, especially in areas like food security, services, etc. He also referred to Uruguay being the gateway to the LAC markets by virtue of the country’s geographical location, modern port facilities and free trade policy. Uruguay, whose economy is growing at 5%, has been ranked as the second most attractive investment destination in the LAC region. The trade minister of Uruguay also stated that India and Uruguay have an FTA.

SOURCE: The Financial Express

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India’s exports will do relatively well in 2016, says UN report

Exports from India and Vietnam are expected to relatively do well in 2016 as their shipments are largely directed to advanced economies in Europe and North America that are expected to expand in the coming year, a United Nations report has said. The Asia-Pacific region, which includes India, China, Japan, Russia, and the ASEAN nations, among others, will hold its position as the largest trading region in the world despite the lowering of trade growth prospects due to global slowdown, the Asia-Pacific Trade and Investment Report 2015 brought out by UN ESCAP on Monday, pointed out. Countries, heavily dependent on China for their exports, however, will not do well, due to the slowdown in the country’s economy, the report added.

Lauding the relatively strong performance of the Indian economy, the report pointed out that it was unlikely to compensate for sluggish performances elsewhere as India’s market remains only “weakly and selectively’’ integrated with the Asia-Pacific region overall. “The report emphasises that countries need to adjust to both cyclical and structural changes, especially in light of the global slowdown and an expected reduction in China’s growth rate,” an official release said. Total exports and imports from the region, which also includes South Korea, Australia, New Zealand, Kazakhstan, Turkey and Mongolia, grew by only 1.6 per cent in 2014. However, when excluding China from the regional total, exports from the Asia-Pacific region registered a decline of 0.4 per cent.

SOURCE: The Hindu Business Line

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US panel to meet FinMin on issues surrounding ease of doing business

A delegation of the US India Business Council (USIBC), including US Treasury officials, is slated to meet Finance Ministry officials in a couple of days to discuss ease of entry and exit, both from public markets — stock exchanges and fixed income markets, and private markets — venture capital/ private equity investments, said Council officials. The agenda for discussion includes new product development and currency hedging of rupee-denominated bonds, also called Masala bonds. International Finance Corporation (IFC), the investment arm of the World Bank, was the first to issue rupee-denominated bonds worth Rs. 1,000 crore in overseas markets in November 2014. The issuance was done to fund infrastructure projects in India. Other entities trying similar method include Indian Railway Finance Corporation and NTPC. The USIBC will also call on the RBI to get the apex bank’s perspective on inflation control, fiscal deficit and its priorities regarding monetary policy.

SOURCE: The Hindu Business Line

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Tamil Nadu trade team to visit US

The Indo-American Chamber of Commerce plans to take a delegation of businessmen from Tamil Nadu to the US to foster economic cooperation with various States in sectors like renewable energy, electronics, pharma, life sciences and health care, according to its President Lalit Kanodia. The idea is to have more State-to-State dialogue, he said. Kanodia on Monday met the State Industry Secretary CV Sankar to discuss about the industrial climate in the State and also apprised him about the delegation. The date of the visit is yet to be finalised, he told newspersons. Tamil Nadu, which is the Detroit of India, has a very good industrial climate and need to attract lots of investment, he said. On the bilateral trade between India and the US, Kanodia said that PWC in a report for the chamber prepared in September said that there was a four-fold growth in India-US trade since 2006 to $100 billion in 2014.

SOURCE: The Hindu Business Line

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Manufacturing PMI falls to 22-month low

Manufacturing sector growth slowed to almost a two-year low in October despite the month being a festival season, showed the widely-tracked Nikkei Purchasing Managers’ Index (PMI). Output growth eased due to a slowdown in new order growth. However, companies employed additional hands, for the first time since January, on the hope of an increase in demand. PMI fell to a 22-month low of 50.7 in October against 51.2 in September. A reading above 50 indicates expansion and one below it shows contraction. Inflation, meanwhile, returned to some commodities because of which the Reserve Bank of India might not cut interest rates.

Manufacturing PMI falls to 22-month low Pollyanna De Lima, economist at Markit and author of the report, said: “A return to inflationary pressures, meanwhile, indicates that the RBI may pause its loosening cycle for the rest of the year following a 50-basis-point cut to the key repo rate in September." Though September and October PMI numbers showed growth, the latter month’s numbers reflected a slowdown in the rate of expansion. If manufacturing fails to rise in the coming months, the government might find it difficult to meet its truncated gross domestic product (GDP) growth target of 7.5-8 per cent for the current financial year. The government had earlier pegged economic growth at 8.1-8.5 per cent for 2015-16. The first quarter had delivered an economic growth rate of seven per cent. The second quarter data would come by this month-end.

PMI was indicative of a weaker improvement in business conditions across the sector, said Markit Economics, a compiler of PMI. Rates of expansion in production and order books were the weakest in the current 24-month sequences of growth, with panellists reporting challenging economic conditions and a reluctance among clients to commit to new projects. Despite a slowdown in new order growth, manufacturers hired additional workers in October. Employment rose for the first time since January, though only marginally. Those companies reporting higher staffing levels commented on expectations of a increase in demand in the coming months.

Sectoral data indicated that consumer goods was the best performing category in October, while improving operating conditions were seen in the intermediate goods sub-sector. Conversely, capital goods firms saw deteriorating conditions in the latest month as output and new orders declined for the first time since September 2014 and August 2014, respectively.

SOURCE: The Business Standard

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Rupee down 16 paise vs US dollar in early trade

The rupee plunged by 32 paise against the US dollar to one-month low of 65.59 on fresh demand for the American currency from banks and importers amid persistent fall in equity markets coupled with strong foreign capital outflows. The domestic unit opened lower at 65.39 against last Friday’s level of 65.27 at the interbank foreign exchange (forex) market and dropped further to 65.62 before ending at a one-month low of 65.59, showing a loss of 32 paise or 0.49 per cent. It hovered in the range of 65.36 and 65.62 during the day’s trade. The local currency had last ended at 65.59 on September 29.

Besides, the dollar index was trading lower by 0.02 per cent against a basket of six currencies in late afternoon trade. The US dollar edged down in early Asian trade as investors' appetite for risk dried up against a background of downbeat Chinese factory surveys. According to data, China's official manufacturing purchasing managers index remained unchanged at 49.8 in October from what it was a month ago, undershooting the 50.0 level. Oil prices fell in early Asian trade as analysts expect weaker demand from China in upcoming months. Meanwhile, the benchmark BSE Sensex ended lower by 97.68 points, or 0.37 per cent, at 26,559.15.

SOURCE: The Business Standard

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'Payment for imports must be made within six months of shipment'

Is there any requirement that we must send payment against imported goods to our foreign supplier within a specified time? If you, can you please give me the reference?

Para B 5 of RBI Master Circular no. 13/2015-16 dated July 1, 2015 deals with the time limit for settlement of import payments. As per Para B 5.1 of that Circular, in terms of the extant regulations, remittances against imports should be completed not later than six months from the date of shipment, except in cases where amounts are withheld towards guarantee of performance, etc. AD Category-I banks may permit settlement of import dues delayed due to disputes, financial difficulties, etc. However, interest if any, on such delayed payments, usance bills or overdue interest is payable only for a period of up to three years from the date of shipment and may be permitted in terms of the directions in para C.2 of Section III below.

Are we required to pay service tax if we do wire-drawing as job-work on goods supplied by our customers?

As per note no. 10 to Section XV of the Customs Tariff, in relation to the products of this Section, the process of drawing or redrawing a rod, wire or any other similar article, into wire shall amount to ‘manufacture’. Services by way of carrying out any process amounting to manufacture or production of goods are covered under the negative list of services at 66 D (f) of the Finance Act, 1994. So, you are required to pay excise duty and not service tax.

We have been supplying goods manufactured in our Domestic Tariff Area (DTA) unit to units in Special Economic Zones (SEZ) in discharge of export obligation against advance authorisations. We have been receiving payments in rupees. Now, our authorisations are not being redeemed on the grounds that redemption will be possible only if the payment is received in foreign exchange or from the foreign currency account of a SEZ unit. Please give your opinion on whether the authorities are right.

As per Para 4.21 (iii) of the current 2015-20 Foreign Trade Policy (FTP), export to SEZ units shall be taken into account for discharge of export obligation provided payment is realised from the foreign currency of the SEZ unit. This condition will govern advance authorisation under the current Policy. Advance authorisations issued during the earlier 2009-14 FTP are governed by para 4.1.6 (a) of that FTP, which stated that exports to SEZ units/supplies to developers/co-developers, irrespective of the currency of realisation, would also be covered. Based on this provision, many DTA units have supplied their goods to SEZ units and obtained payment in rupees. In many cases, redemption of their advance authorisation is held up on the grounds that payment has not been made from the foreign currency account of the SEZ unit. That seems to be the position taken by the higher authorities. In my view, that stand is open to challenge. You can take the matter to the Courts.

SOURCE: The Business Standard

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CRB's India conference to promote sustainability

Centre for Responsible Business (CRB), an organisation promoting sustainability across various industries in India, will host an international sustainability conference titled ‘India and Sustainability Standards’ from 18-20 November, 2015 in New Delhi. The conference aims to develop a roadmap for enhancing sustainability in the value chain across industries, including the textile and garment industry. Themes on ‘Responsible Cotton’ and ‘Responsible Business in the Apparel and Textiles Sector’ are among the major highlights of the conference. The 2015 conference is a continuation of the tradition started in 2014 by the organisation. It seeks to provide platform for stakeholders across various industries to develop a future course of action on sustainability issues, according to the information given on the website of the conference.

Elaborating on the need for sustainability standards in India, the website says, “India faces major environmental and social challenges, such as poverty, pollution, education, health, resource distribution and inequality. The growing economy and growing pace of production and consumption makes India a global marketplace as well as a key stakeholder in sustainability challenges and solutions. Stakeholders within and outside India are increasingly looking to how to make standards effective in India and bring Indian perspectives into global standards.” “The moment has come for key stakeholders within and outside India to come together to take stock of the current situations and plot a course for how large companies and SMEs in India should use voluntary sustainability standards and collaborative initiatives,” it adds. CRB partners with stakeholders across the entire global value chain – national and transnational brands and companies, manufacturers and suppliers (SMEs), national and international organisations and governments — as they champion and drive  towards a more sustainable and responsible future.

SOURCE: Fibre2fashion

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Global crude oil price of Indian Basket was US$ 46.27 per bbl on 02.11.2015 

The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 46.27 per barrel (bbl) on 02.11.2015. This was higher than the price of US$ 44.72 per bbl on previous publishing day of 30.10.2015.

In rupee terms, the price of Indian Basket increased to Rs 3029.82 per bbl on 02.11.2015 as compared to Rs 2916.51 per bbl on 30.10.2015. Rupee closed weaker at Rs 65.48 per US$ on 02.11.2015 as against Rs 65.22 per US$ on 30.10.2015. The table below gives details in this regard:

 

Particulars

Unit

Price on November 02, 2015 (Previous trading day i.e. 30.10.2015)

Pricing Fortnight for 01.11.2015

(Oct 14 to Oct 28, 2015)

Crude Oil (Indian Basket)

($/bbl)

46.27              (44.72)

45.55

(Rs/bbl

3029.82         (2916.51)

2958.93

Exchange Rate

(Rs/$)

65.48            (65.22)

64.96

 

SOURCE: PIB

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No discussion on any new APEC membership: US

Amid reports that India asked the Philippines to support its candidature for joining APEC, the US today said at present there is no discussion on "any new membership" to the powerful forum of 21 Pacific Rim countries. In an interaction with foreign journalists here, Deputy US Assistant Secretary of State and Senior Official for APEC Matt Matthews said currently there is "no discussion" within the grouping on new membership. Decisions within Asia Pacific Economic Cooperation (APEC) are taken with consensus, he noted. "I do not believe there is any active consideration within APEC for expanded membership in the current time," Matthews told reporters in response to a question on India's membership in APEC. "From time to time, economies register their interest and at present though there has been no significant discussion along those lines," he said. The remarks by the senior US official comes weeks after India reportedly requested Philippines to support its candidature for membership to this powerful forum of 21 Pacific Rim countries which promotes trade throughout the Asia Pacific Region.

Notably, Prime Minister Narendra Modi had raised the issue of India joining APEC when he met US President Barack Obama when the latter travelled to New Delhi in January this year. Obama had "welcomed" India's interest in joining APEC as a member. "I would suggest that for any economy that is interested in APEC, a great way to start is to go into identifying some form of working groups that work on particular areas...They are particularly interested in that and apply as a guest to send experts to participate, to both help understand how APEC works and get a better understanding of how process turnout works," the US official said. When asked about Obama's statement in New Delhi early this year, Matthews asserted that the US President had "welcomed" India's interest in joining APEC. "It is important to be careful and accurate about describing President's comment. President welcomed India's interest in APEC. That speaks for itself. We welcome India's examination of APEC. We have not entered discussion about it. I do not believe India is formally pressing for actual membership now in APEC," the US official said. "APEC is an organisation which so consensus based. So each of the APEC member has to agree to expansion of the APEC membership. And no discussion in APEC this year has focused on that topic," Matthews said.

In a recent report, C Fred Bergsten of the Peterson Institute for International Economics, a top US-based financial think tank, said India could increase its exports by USD 500 billion per year by joining the next stage of the Trans-Pacific Partnership (TPP) trade agreement. India becoming a member of APEC would be the first step toward TPP, Bergsten argued. The report said to be accepted into these agreements, India will have to implement the economic reform programme proposed by Prime Minister Modi. India also needs to liberalise its own markets to international trade and investment in order to persuade other countries to open their markets to its exports, the report said. India has been seeking to become a member of APEC for two decades now. In 2011, the United States invited India to participate in APEC as an observer.

SOURCE: The Economic Times

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WTO: differences intensify over Nairobi package

Differences between developing countries and rich nations over what needs to be included in the package of agreements, to be delivered at the Nairobi Ministerial meet of the World Trade Organisation (WTO) in December, are getting more intensified. India, China and Indonesia were among the developing nations that recently took on farm exporting members such as the US and New Zealand for pushing for an agreement on export competition at Nairobi, while ignoring other aspects of the farm negotiations such as a special safeguard mechanism for poor farmers. “At last week’s meeting of the Committee on Agriculture (CoA), several developing countries made it obvious that they are not willing to agree to only a pact on export competition in agriculture at Nairobi without getting anything in return,”,” an official who attended the meeting said.

Speaking independently at the meet, India’s representative stated that all three pillars of the agriculture negotiations — market access, domestic support and export competition — were balanced, and asked members not to cherry pick. China, too, seemed to be on the same page with its representative stating that members should not push any issue off the table, the official said. The US and some others support the conclusion of the Doha Round — which has been on since November 2001— at Nairobi, with the delivery of a small package of agreement on select issues.

Development issues

This is being opposed by many developing countries such as India as it would result in burying of all developmental issues that the Doha Round included and subsequent rounds might just focus on issues favoured by powerful nations. The US, backed by the entire Cairns group of farm exporting countries, has been insisting that a pact on export competition — for time-bound elimination of all forms of export subsidies and tracking and monitoring of export measures — was the only plausible agreement that could be reached at Nairobi. The G-33 group of developing countries in agriculture, led by Indonesia, however, does not agree.

At the CoA meeting, the alliance insisted on an agreement on a ‘special safeguard mechanism’ that will allow developing countries to raise import tariffs on farm goods whenever there was a surge in imports or a fall in domestic prices. The G-33 proposal also received support from the African Group and the African, Caribbean and Pacific countries group. It was, however, opposed by the US and the Cairns group, which argued that the mechanism would allow countries to raise tariffs instead of opening markets, a step in the wrong direction of agriculture reform.

SOURCE: The Hindu Business Line

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Yuan's biggest boost in 10 yrs

China on Monday raised the daily reference rate for the yuan by the largest margin in a decade, officials and reports said, just three months after a surprise devaluation sent shockwaves through global markets. The central People's Bank of China adjusted the central rate of the yuan - also known as the renminbi (RMB) - upwards by 0.54 per cent against the US dollar, according to a statement. The increase was the largest since 2005 when Beijing unpegged the yuan from the dollar, Bloomberg News reported.

SOURCE: The Business Standard

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First Made-in-Pakistan exhibition took place in Tajikistan

The first Made-in-Pakistan exhibition to introduce Pakistani products in Central Asian Market was held in Dushanbe (Tajikistan) from 29th to 31st Oct organized by Rawalpindi Chamber of Commerce and Industry (RCCI). Three day Made in Pakistan exhibition started with opening ceremony at State Complex Kokhi Borbad followed by Business Forum for entrepreneurs of Tajikistan and Pakistan. Thirty exhibitors from textile, handicrafts, leather, Paint, Pharmaceutical, food, logistics, IT, furniture, Kitchen ware, handicraft and surgical items sectors displayed their products.

On the occasion a MOU was signed between Rawalpindi Chamber and Chamber of Commerce and Industry of the Republic of Tajikistan to share business information, technical assistance and arrangement of business meetings. President RCCI Mian Humayun Parvez commenting on the exhibition Made in Pakistan said the the exhibition provided an opportunity for Pakistani business community to introduce their products to the Central Asian markets. Rawalpindi Chamber organized this exhibition to introduce Pakistani products to enhance the exports volume in a proper manner. Such exhibitions would also help strengthen the economy of the country and promote bilateral trade. H.E. Tariq Iqbal Soomro, Ambassador of Pakistan to Tajikistan along high commissioner participated as chief guest in the exhibition.

In closing ceremony RCCI President Mian Humayun Parvez, RCCI Exhibition committee chairman Ch.Abdur Rauf, Vice Chairman RCCI exhibition committee Mr.Khurshid Barlas, Mrs. Rustamova Manzura Akramovna, Deputy Chairman of the Chamber of Commerce and Industry of the Republic of Tajikistan, Mr. Sharifov Khushbakht murod, Deputy General Manager of National Bank Pakistan were also present.

SOURCE: Yarns&Fibers

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Archroma to host daily 'Innovation Sessions' at ITMA 2015

Archroma, a producer of colour and specialty chemicals will organise daily 'Innovation Sessions' at ITMA 2015, which will be hosted by its textile experts. “Textile experts would be present at ITMA 2015 to showcase solutions that combine performance, cost optimization and responsible textile production,” an Archroma press release stated. The 'Innovation Sessions' will take place every day at Hall 8 - Booth F101 at 11:00 to allow visitors to take an in-depth look at what some of these innovations will mean to the textile industry. There will be two separate sessions on four different topics which include; Sustainability & One Way on November 12 and 16, Earthcolors on November 13 and 17, Inkpresso on November 14 and 18 and SmartRepel on November 15 and 19. Sustainability & One Way will focus on clothing, garments or textiles that are made in a more sustainable and responsible way.

Archroma will present their engagement in favour of a more sustainable textile industry, with a deeply rooted, long-term commitment into everything they do. The Earthcolors session will look for a way to help clothing companies and brands on their way to eco-conscious fashion. “The result is Earthcolors, a range of products created from agricultural waste and embracing the latest in communication technology to enable transparency and traceability through the supply chain,” it added. Archroma, together with a Swiss technology provider will introduce for the very first time at ITMA 2015 a pioneering system; Inkpresso that Archroma believes will mark a turnaround in the textile digital printing market. According to Archroma, Inkpresso will change the way inks are supplied to digital printers as Inkpresso brings together benefits that were unattainable so far in inkjet printing. These include; production flexibility, no shelf-life problems, a larger colour spectrum and the possibility of an individual colouristic fingerprint.

Smartrepel Hydro is Archroma's nature-friendlier protection that keeps cotton, polyester and polyamide textiles dry, which offers exceptional, durable water repellency and is not based on fluorine. “Smartrepel Hydro produces a soft hand feel and outstanding breathability or the perfect long lasting high performance finish for weatherproof garments,” it stated.

SOURCE: Fibre2fashion

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