INTERNATIONAL
Textile Raw Material Price 2015-11-03
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1079.87 |
USD/Ton |
0.15% |
11/3/2015 |
|
VSF |
2296.79 |
USD/Ton |
0% |
11/3/2015 |
|
ASF |
2296.79 |
USD/Ton |
0% |
11/3/2015 |
|
Polyester POY |
1031.82 |
USD/Ton |
0% |
11/3/2015 |
|
Nylon FDY |
2536.23 |
USD/Ton |
0% |
11/3/2015 |
|
40D Spandex |
5356.02 |
USD/Ton |
0% |
11/3/2015 |
|
Nylon DTY |
2772.53 |
USD/Ton |
0% |
11/3/2015 |
|
Viscose Long Filament |
5872.72 |
USD/Ton |
0% |
11/3/2015 |
|
Polyester DTY |
1283.87 |
USD/Ton |
0% |
11/3/2015 |
|
Nylon POY |
2362.95 |
USD/Ton |
0% |
11/3/2015 |
|
Acrylic Top 3D |
2485.04 |
USD/Ton |
0% |
11/3/2015 |
|
Polyester FDY |
1099.56 |
USD/Ton |
0% |
11/3/2015 |
|
30S Spun Rayon Yarn |
2867.05 |
USD/Ton |
0% |
11/3/2015 |
|
32S Polyester Yarn |
1748.58 |
USD/Ton |
0% |
11/3/2015 |
|
45S T/C Yarn |
2709.52 |
USD/Ton |
0% |
11/3/2015 |
|
45S Polyester Yarn |
1906.11 |
USD/Ton |
0% |
11/3/2015 |
|
T/C Yarn 65/35 32S |
2315.69 |
USD/Ton |
0% |
11/3/2015 |
|
40S Rayon Yarn |
3024.58 |
USD/Ton |
0% |
11/3/2015 |
|
T/R Yarn 65/35 32S |
2599.25 |
USD/Ton |
0% |
11/3/2015 |
|
10S Denim Fabric |
1.10 |
USD/Meter |
0% |
11/3/2015 |
|
32S Twill Fabric |
0.93 |
USD/Meter |
0% |
11/3/2015 |
|
40S Combed Poplin |
1.02 |
USD/Meter |
0% |
11/3/2015 |
|
30S Rayon Fabric |
0.75 |
USD/Meter |
0% |
11/3/2015 |
|
45S T/C Fabric |
0.76 |
USD/Meter |
0% |
11/3/2015 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.15753 USD dtd.03/11/2015)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Textile industry constitutes an important component of the national economy. Apart from providing one of the basic necessities of mankind, it makes significant contribution to industrial production, employment and exports. With a view to assess the existing position and formulate strategy for exploiting the potential of the sector, the Government of India is holding the Annual Conference of State Textiles Ministers, under the Chairpersonship of Shri Santosh Kumar Gangwar, the Hon’ble Minister of State for Textiles (Independent Charge), Government of India, as per the following details:
|
Date |
Wednesday, 4th November, 2015 |
|
Time |
9.30 AM onwards |
|
Venue |
The Stein Auditorium, India Habitat Centre, Lodhi Road, New Delhi |
All are cordially invited to cover the above event.
SOURCE: PIB
In the last few months, the growth of textile and apparel exports from India had slowed down on account of various internal and external factors. Realizing the turmoil that Indian exporters were facing in global markets, Shri Santosh Kumar Gangwar, Union Minister of State for Textiles (I/C) had recommended a number of corrective actions to the Ministry of Commerce and Industry in consultation with industry stakeholders. One of the major recommendations was related to the enhancement of market coverage under Merchandise Exports from India Scheme (MEIS). The Textiles Minister would like to express gratitude to Smt. Nirmala Sitharaman, Minister for Commerce and Industry, for taking due note of the recommendations and amending MEIS as requested. The Export Promotion Councils and other trade bodies have also appreciated this timely action, which will lead to improvement of textile and apparel exports from India.
A Public Notice dated Oct 29, 2015 has been published by Director General of Foreign Trade (DGFT) regarding extension in duty incentives under the Merchandise Exports from India Scheme (MEIS). The duty benefit amendments as part of the allocation have been increased from Rs 18,000 crore to Rs 21,000 crore for MEIS. Textile and apparel sector has emerged as one of the major beneficiaries of the latest amendments in MEIS. Launched in April 2015, the MEIS provided duty reward to eligible textile and apparel categories to an extent of 2% of FOB value in countries falling under Group A (Traditional markets - USA, EU-28 and Canada) and a single country in Group B (Emerging markets) viz. Japan. Later in July 2015, the scheme was amended wherein countries of Norway, Switzerland, Iceland and Liechtenstein were shifted from Group C (other markets) to Group A and 2% duty benefit was provided for fabric exports to Bangladesh and Sri Lanka.
Despite these additions, many important markets for yarn, fabrics, made-ups and garments like Latin American countries, Russia and CIS countries, Turkey, etc. remained uncovered for duty reward. Indian textile and apparel exporters had been demanding a more comprehensive market coverage to set off the disadvantage that they faced due to factors such as lack of FTAs with EU and USA, and higher interest and power rates than competing countries. The recent amendment in MEIS has addressed these concerns of industry, thereby improving industry sentiments. In the recent amendment, the country coverage for all eligible textile and apparel categories has been extensively extended. Eligible categories under HS Code Chapters 50 to 63 are now eligible for duty reward of 2% to all countries of Group B, Group C and Group A countries. This means that the duty reward is now available to textile exporters in any country globally. For eligible apparel and made-ups categories under HS Code Chapters 61 to 63, the duty reward has been extended to all Group B countries in addition to Group A countries. Group B comprises of 140 countries covering important emerging apparel and made-up markets like South Africa, Russia, China and Hong Kong, East and West African countries, etc. Incentives in these additional markets would prove extremely beneficial to exporters.
SOURCE: The Business Standard
Following the runaway success of Itmach Bhiwandi and Itmach Ahmedabad, Itmach India in association with Textile Excellence is once again organising the textile technology show, Itmach Bhiwandi 2015 from December 17-19, 2015. Over 125 exhibitors, primarily, machinery and technology providers from the post-spinning, weaving preparatory, weaving, dyeing, printing and processing as well as garmenting sectors have booked space at the show. Itmach Bhiwandi 2015, covering an area of 10,000 square metres, will be hosted in a modern warehouse of Indian Corporation that will yet again be converted to a state-of-the-art exhibition facility. “With its motto 'To bring textile machinery manufacturers closer to their customers', Itmach Bhiwandi 2015 aims at bringing together visitors and exhibitors from all sectors of the industry from India and abroad,” a press release said. “Itmach Bhiwandi 2015 will create conducive business environment, generate business ideas and create investment opportunities in Indian markets,” the organisers added.
According to the Textile Excellence, a media house and also the organisers, the textile machinery show will showcase a wide range of latest textile machinery and technology. Machinery categories include; spinning and preparatory; winding and texturing; weaving and preparatory; knitting hosiery, embroidery and braiding, garment dyeing, printing, processing and finishing. They will also include quality control; logistic; software; recycling equipment; colourants and chemicals and research and education. “The timing of the show is crucial as this is the first textile technology show in the country, after the much-awaited ITMA 2015 and is expected to attract over 30,000 visitors,” they added. A few of the exhibitors include; Staubli; Itema Weaving; Luwa; Picanol; Prashant Gamatex; Perfect Equipments Alidhra Textool; A.T.E. Enterprises and Darshana Trading Co. Others include Skaat India; Sheeza Impex; Hasmukh Textile; Manishaa Overseas; Tatoom Sublimation; Dynamic Autolooms and Birla Cellulose. The exhibition is supported by leading industry associations including PDEXCIL, SASMIRA, SDC and China Textile Machinery Association. “Being located on the Mumbai-Nashik Highway (NH-3) or the Eastern Express highway, Bhiwandi is well connected by both road and rail networks,” the organisers informed.
SOURCE: Fibre2fashion
The Office of the Textile Commissioner plans to take up a study of hank yarn requirement in the country, Textile Commissioner Kavita Gupta told The Hindu here recently. One of the demands of the textile industry is to reduce hank yarn obligation. “We need to do a study of the actual requirement,” she said. “I am also trying to create a data base for different segments of the textile industry.” Regarding the Technology Upgradation Fund Scheme (TUFS), Ms. Gupta said there was a proposal to modify the scheme and the review was under progress. The industry should work on technical textiles and research and development. Some of the areas of focus are technical textiles, promoting research and development, obtaining patent for products developed by the Centres of Excellence, and putting a monitorium mechanism in place, she said. On the export front, the Textile Commissioner said the industry needs to focus on improving competitiveness and diversifying market to increase exports.
SOURCE: The Hindu
After discontinuing its low value margin categories, textile major Raymond is seeking better realisations from its loss-making personalised tailoring business under the MTM (Made to Measure) segment. Despite suffering losses to the tune of Rs. 10 crore in the MTM segment this quarter, Raymond intends scaling up the format from 100 to 250 stores in the next three years. “MTM gives us the highest realisation as the price of a single suit is Rs. 30,000. There will be continued investment in expanding its retail universe as we benefit for the value chain margin advantage,’’ says Sanjay Behl, CEO, Lifestyle, Raymond.
Focusing on high margin business like MTM is expected to improve profitability for the textile company as its second quarter net profit dipped to Rs. 9 crore from Rs. 68 crore during the previous year. “We expect the MTM business to reach a critical mass in the next 4-8 quarters during which it should be able to achieve a reasonable break-even position,’’ added Behl. Increasing capex from Rs. 170 crore during the first half of the year to Rs. 275 for the second-half, the funds would get used for capacity expansion and store roll outs, targeting the premium end of the textile industry. In fact, the complete acquisition of a manufacturing company like Robot Systems during the September quarter was aimed at higher capacity utilisation for its suiting and jacketing capabilities at the premium end of the market targeting the export market. “There is a fundamental shift happening at Raymond as it has moved from a mass premium to a bridge to luxury brand in the textile industry with high count better fabrics,’’ he added. While sales in the textile segment were flat, the apparel segment grew at 16 per cent during the quarter.
All the four brands (Park Avenue, Color Plus, Raymond Apparel and Parx) have grown for the textile company with its largest brand Park Avenue registering 25 per cent growth at Rs. 146 crore. New revenue streams are also being explored as since e-commerce generated Rs. 6 crore sales during the September quarter. “We are not discounting our portfolio and sell at market place like Jabong and Myntra and there will be an omni-channel model with our concierge services,’’ added Behl. Another drag on the textile major’s performance was its presence in non-core areas like auto component, tools and hardware segment where it was hit by impairment charges. It might consider divesting these segments to scale up profitability further as the depreciation of the euro severely impacted these segments in the export markets.
SOURCE: The Hindu Business Line
A two day conference of Power, Renewable Energy and Mines Ministers of States and Union Territories will be held on 6th & 7th of this month at Bolgatty in Kochi, Kerala. The Conference scheduled to be inaugurated by Shri Piyush Goyal, Union Minister of State (IC) for Power Coal & New and Renewable Energy, is meant to discuss a host of issues pertaining to the sector. The meeting is significant as it comes ahead of the winter session of Parliament, where the proposed amendments Electricity Act will be taken up. The two-day Power Ministers conference in Kochi will discuss apart from sector reforms issues related to power generation , distribution and transmission, Coal production and supply , promotion of renewable energy and energy conservation.
The agenda of two days of deliberations include preparation and implementation of State specific documents of 24x7 Power of All, Electrification of remaining un-electrified villages in mission mode, Expeditious implementation of Deendayal Upadhyaya Grameen Jyothi Yojana (DDUGJY), implementation of Integrated Power Development Scheme (IPDS), Strategies for AT&C loss reduction, Smart Grid, Financial health of discoms, Advance transmission planning, Right of Way (RoW) issues in transmission projects, Green Energy Corridor I& II. In the Thermal sector, discussions will be held on support of state governments for thermal projects in: land acquisition, ensuing congenial law & order situation, Coal swapping-methodology and benefits, Coal linkage policy and third party sampling of coal. Discussions will also be held on how to expedite the completion of 36 ongoing Hydropower Projects and to resolve issues related to eleven stranded or stalled projects and formulation of transparent and progressive Hydropower policy and resettlement & rehabilitation policy.
In the field of Energy conservation, there will be review on the progress of implementation of Domestic Efficient Lighting Programme (DELP) and Street Light National Programme (SLNP). Another topic of discussion would be promoting the use of Energy Efficient Agricultural Pump sets, Appliances and Energy Efficiency in industrial units through demand side management. In the area of Renewable Energy, State wise review will be taken on the progress of fixing of RPOs, evacuation and transmission infrastructure to match the target of 1,75,000 MW by 2022 and achievement thereof, progress of solar parks, solar pumps and projects on canal tops and banks sanctioned to states, exploring the feasibility of sanctioning 25 more solar parks to the states, identification of solar zones in states and rooftop SPV projects especially in regard to government buildings, educational and health institutions, expediting development of wind power projects and waiving of the intra-state transmission losses and charges for wind power projects.
The outstanding dues of State Electricity Boards, discoms to power sector PSUs and Coal India Limited will also be a topic of discussion in the conference to be attended by among others Power, Renewable Energy and Mines Ministers of States and Union Territories , the Secretaries of Power, Coal and New & Renewable Energy Ministries and heads of Discoms and Central Public Sector undertakings of Power sector.
SOURCE: PIB
The government's Make-In-India initiative involves a brand new definition for manufacturing activity which seeks to divorce all packaging processes from the conventional understanding of industrial production. This approach to what constitutes a 'manufacturing process' is a pivotal part of a new legislation being readied by the government to replace the 1948 factories law and the Factories Bill of 2014 that has already been vetted by a parliamentary panel. Citing the example of milk, the labour ministry has argued that packing it into 'different volumes or weight' does not change the character of milk and shall therefore not be construed as manufacturing under the proposed new law. 'Any process or activity resulting in any alteration of original character, such as nature, state, shape, size, usefulness and/ or making value addition to the original material acted upon when subjected to the process or activity' is manufacturing under the new Factories Bill being discussed with stakeholders. New factories law may exclude packaging from manufacturing.
While the ministry is expected to hold tripartite discussions with employees and the industry on the proposed changes to the law soon, experts questioned the rationale behind taking packaging out of the purview of manufacturing. Former Planning Commission member Arun Maira, who had spent decades in the Tata group's manufacturing businesses, said it is important to have a broader view of manufacturing where India needs to create more jobs for the youth. "The conversion of some inputs into something else of value and the activity in between is manufacturing. Milk packed into a laminated card-paper pack, is a different product from loose milk and has greater utility as it can be stored longer and carried farther," Maira pointed out. "Perhaps the government wants to make it easier for firms to make in India by exempting some activities from regulatory requirements. But the factories law is basically concerned with safety and if you are getting employees to stitch together garments or package/re-package goods and materials, they should be safe too," he said.
AK Padmanabhan, president of the Centre for Indian Trade Unions (CITU), told ET that he had asked the labour ministry about the purpose of this new definition for manufacturing during a recent discussion about the new Factories Bill, but he got no response. No trade union can deny that the factories law needs be reviewed as they are outdated and manufacturing processes and safety needs have changed. But some of the changes being proposed would lead to many factories coming out of the law's ambit," he said. Packaging milk involves industrial processes, and so can be construed to be a manufactured food item. The larger issue is to genuinely reform and amend such laws as the Factories Act. Reportedly, 'inspectors' in the Act would be replaced by 'facilitators', who would issue 'improvement notices' to factories to seek compliance. But in the process, the letter and spirit of the law may well be subverted, leading to routine rent-seeking and hassles. Instead, we need to improve the ease of doing business and proactively safeguard workers' interests.
SOURCE: The Economic Times
India should take advantage of the upcoming Tripartite Free Trade Area (TFTA) in Africa as a springboard towards greater trade, industry body Associated Chambers of Commerce and Industry of India (Assocham) said on Tuesday. In a report on India-Africa trade, Assocham marked out the TFTA as a major area of interest with regards to future trade with the continent. Its other recommendations include specific push to trade and investment treaties and concerted effort towards removing instances of double taxation.
The third India-Africa Forum Summit, which concluded on October 30 was attended by heads of states and government representatives of 54 African countries. Prime Minister Narendra Modi announced concessional credit of $10 billion over the next five years for Africa, over and above India's current credit programmes. However, a concerted government policy push towards greater investments and trade in the area is still awaited. The report said Africa's share in India's total exports and imports stood at 10.18 per cent and 9.24 per cent, respectively, during the April-July period of the current financial year. India has already signed bilateral free-trade agreements with 19 African nations and preferential trade agreements with 13 more. These have had a significant impact, with total trade rising from $97million in 1991 to more than $71billion in 2014-15, with a compound annual growth rate of 31 per cent.
The report also pointed out that currently India's primary markets are Nigeria, Egypt, Tanzania and Kenya. However, it added, it would be beneficial for the country to diversify its product basket and expand to other markets such as Algeria, Togo, Cameroon, and Ghana, all having demonstrated high growth rates in the recent past. Indian investment in Africa is mainly in commodities such as oil, gas, and mining, as well as in telecom and fertiliser industries. The report said greater sectoral diversification was the need of the hour. It pointed to the high potential of the pharmaceutical market in the continent but warned low access due to lack of awareness and health standards proved major restrictions. The report stressed that African nations needed to coordinate with India so as to improve non tariff measures in trade, which are currently inefficient and complicated.
On the banking front, it welcomed the african business community to expand its presence in India, where only a handful of players exist. Other potential areas of investment in India were in food and hospitality, it said. However, it said the government would have to remove constrictions on the free flow of capital. The report also recommends the increase of trust building measure from the Indian side. This would involve the establishment of skill building institutes and research facilities, incorporating more direct business interactions between India and Africa. According to the Financial Times, Africa is the fastest growing destination for FDI, with investment coming into the region rising by 65 per cent in 2014, totaling approximately US$ 87 billion.
SOURCE: The Business Standard
After sunrise Amaravati ceremony, Chief Minister N. Chandrababu Naidu is now focusing on reviving the inundating sectors, especially jute, sugar, ferro alloys and textile industries in the State. After reviewing the performance of these industries at the Camp Office here on Tuesday, the Chief Minister sought a comprehensive report on sick industries.
Textile industry
Among all, there has been major slump in the textile industry, which provides employment to about 23,000 persons in the State. There were as many as 62 textile units in 2005-10 and after many closures, only 33 units are functioning in 2010-15 period. During the meeting, authorities informed that during the last 3 years, the textile industry had not been doing well internationally. In reply, the Chief Minister instructed the authorities to explore the possibilities to combine textile and apparel sectors for effective results. He directed the authorities to focus on skill development of the labour in these industries. Similar is the situation of the jute industry. In all, 24 units are operating in Vizianagaram, Visakhapatnam, Srikakulam and Guntur districts and 18 units have gone defunct.
On the reasons, authorities informed that earlier, the State used to export considerable quantity to West Bengal but ever since the imports from Bangladesh in large quantities and that too at a lesser price was casting a negative impacted on the jute industry. Authorities suggested that imposing Anti-dumping duty on materials being imported from Bangladesh could help in addressing the problems in a major way. This apart, the industry has been seeking rebate in electricity tariff and VAT exemption for sustenance. The status of cooperative sugar industry in the State is also not very encouraging. Of the10 existing factories in this sector, only four are working, four have been closed and two are in a pathetic condition. While, the recovery in cooperative sugar factories on national level was 10.39 per cent, in Andhra Pradesh it was 9.16 per cent. In the past, experts committee and Group of Ministers had suggested VAT exemption, rebate in purchase tax, power tarriff revision and other measures to bail out the industry. To this, Mr. Naidu wanted the officials to study how privatised sugar units were performing and take a decision accordingly. He suggested delegating the management of this industry to professionals and extending incentives could be explored to revive the cooperative sugar industry.
On the performance of aluminium, manganese, silica and other ferro alloy industries, the Chief Minister instructed officials to conduct a study and find out how the Centre and State could rescue the industry. Of the 35 units existing in north Coastal Andhra, only 27 were operational. High power tariff is a major hurdle faced by these units, authorities said. These units have been seeking concessions in power tariff and exemption of 6 paise per unit on electricity duty. Mr. Naidu asked the officials to explore the exemptions on Central excise, VAT etc to help these units tide over the crisis.
SOURCE: The Hindu
To mobilise overseas fund flows in Indian capital markets, a delegation of the US India Business Council (USIBC) will meet government officials this week to suggest streamlining procedures for foreign investors as well as increase their investment limits in listed companies. The delegation which includes US treasury officials, would also pitch for relaxing the cap on foreign investors on buying government of India securities and discuss ways to improve the country's debt markets. They would be meeting markets regulator Sebi officials today to discuss the issues. "Today, it is very hard to invest in India, it's a nightmare, too much paper work, too many rules, bureaucracy," USIBC capital markets working group chairperson Sumir Chadha told reporters here. "This government has taken lot of positive steps to improve that so we are going to give lot of concrete suggestions on how to achieve ease of doing business in the capital markets," he added.
The delegation also plans to discuss ease of doing business with government officials and Reserve Bank of India in next couple of days. It will pitch for raising the single 10 per cent FII limit to at least 15-20 per cent. "Increase the FII limit in listed companies from 10 per cent to 15-20 per cent. That would overnight attract a lot of capital," Chadha said. "Other things could include requiring less paperwork for the investors," he added. Noting that the government needs to have lesser restriction in foreign investment in the bond market, Chadha said that offshore investors want to buy a lot more government of India bonds but can not because there is a cap. "They have increased the limit but it is still very small. In the long run, it would be better not to have any cap... the cap can be done away with in phases," he said. In an address, US Treasury assistant secretary for international finance Ramin Toloui said, "this week we will also be sharing the lessons that the US has learnt in building up our own capital markets including a robust corporate bond and municipal debt market".
SOURCE: The Economic Times
The Vice President of India, Shri M. Hamid Ansari has said that India and Indonesia are two largest emerging economies of the world and poised for expanding existing commercial relations as well as for identifying new sectors of economic cooperation. He was addressing the India-Indonesia Business Forum, in Jakarta, Indonesiatoday, which was attended by the Vice President of Indonesia, Mr. Jusuf Kalla and a large number of business people from India and Indonesia. The Vice President said that engagement between India and Indonesia remains vibrant and economic and commercial cooperation occupies prominent position in the bilateral discussions. He added that he found a strong desire in Indonesian leadership to expand commercial engagement with India.
The Vice President stated that the market liberalization of India in the nineties followed by calibrated economic reforms in the past decade has led to sustainable economic growth and socio-economic development and India's economy registered a growth of 7% in the last quarter. India’s private sector has strengthened with the economic growth over the last two decades and it is keen to expand its global operations, he added. He further said that innovative spirit of Indian industry, backed by a strong government research and development push and a network of quality education institutions, make India and the Indian companies the most promising business partners today. The Vice President emphasized that India has launched its flagship programme of 'Make in India' for the ease of doing businesses through simplification of existing rules and regulations. Infrastructure development and energy security are key areas for cooperation for emerging economies like India and Indonesia, he added. The Vice President said that India’s 'Act East Policy', as articulated by the Prime Minister of India, aimed at rapidly scaling up our cooperation with ASEAN member countries in crucial areas.
SOURCE: PIB
Relations between India and Morocco go back to the 14th century. Over the years, India and Morocco have enjoyed cordial and friendly relations and bilateral relations have witnessed significant growth. In 2014, trade between the two countries stood at $1.36 billion i.e. India's exports to Morocco in 2014 stood at $500.5 million while imports were valued at $855.8 million. India Africa Summit Forum 2015 witnessed one of the largest delegation led by the the King of Morocco. The delegation comprised of Moroccan Centre of Export Promotion, CGEM, ASMEX, Al Akhawayn University, amongst other key government agencies. Senior management of large Moroccan Corporations and Industry Federation leaders representing various business segments of Morocco were also part of the delegation. On the side lines of the Summit, Moroccan Centre of Export Promotion had organized networking business meet, which evoked overwhelming response from various business segments of Indian Industry such as infrastructure, engineering, technology, manufacturing and many others. The business delegation from Morocco had business interactions with the senior leadership of large Indian conglomerates like NIIT, Punj Lloyd, Micromax, Soma, Amity University, Waterlife, The Times of India Group and few others.
MoUs were signed by Moroccan Center of Export Promotion with ASSOCHAM, PHDCCI, FIEO and Indian Importers Chambers of Commerce & Industry for bilateral economic cooperation. Memorandum of Cooperation was also signed by Al Akhawayn University of Morocco with Amity University of India towards bilateral cooperation in Education field. Some more announcements were also made for bilateral cooperation projects. "The Moroccan Centre of Export Promotion has played a pivotal role in perspective sharing of competitive strength of the country and emerging business opportunities", said Ms. Zahra Maafiri - Director General of Export Morocco. There is a strong intent and pull to take forward these discussions towards partnership and mutual prosperity of India & Morocco. Focus areas such as IT & ITeS, Agro, Smart City, Roads & Highways, Textile and Telecom, offer attractive opportunities for partnership between Morocco and Indian businesses, with handholding & support of the Indian Government.
SOURCE: The Economic Times
A public consultation launched by the European Commission will examine the potential for the restriction of a huge range of substances found in some textiles and apparel that are classified as carcinogenic, mutagenic or toxic for reproduction. Any restricted substances would be quickly added to a specific appendix to Annex XVII of existing REACH regulations. A newly proposed list of nearly 300 substances compiled by the European Chemicals Agency (ECHA) will come under public scrutiny via a new consultation process with a view to tough new restrictions in Europe. The list includes certain dyes and (resultant) carcinogenic amines; raw materials derived from petrochemical resources along with other chemicals such as some flame retardants and phthalates. The main objective of the new consultation is to enable the European Commission to collect more data on consumer articles that may contain CMR’s (carcinogenic, mutagenic or toxic for reproduction), which it intends to use to restrict these chemicals perhaps using a simplified REACH procedure.
“Textile articles and clothing were selected as a first test-case because of the high likelihood of a prolonged – or multiple short-term – exposure of consumers to CMR substances being potentially present in those articles,” said the EU in a statement. “The list of CMR substances (individual substances or groups) covered by this possible restriction would be added as a specific appendix to Annex XVII to REACH and could be regularly updated, as appropriate.” A substantial list of potentially restricted CMR substances compiled by the ECHA appears via this link HERE for those parties who are interested to join the consultation process, which ends January 22 2016.
SOURCE: The Ecotextile
Georgia’s state-owned shareholding company, the Partnership Fund (PF), and China’s Silk Road Investment Company are launching cooperation in Georgia’s textile industry. The two companies signed a Memorandum of Cooperation yesterday, which outlined implementation of several projects in the textile industry. The Memorandum also noted cooperation not only in Georgia’s textile industry but in other economic fields as well. The Memorandum was signed by the head of PF Davit Saganelidze and Silk Road Investment Company general director Ji-Min Lu.
SOURCE: The Agenda
Local Textile Manufacturing Company Printex is blaming the government for the collapse of the textile industry. According to the Manager in-charge of administration at Printex, Moses Tetteh Zizzer, the Ministry of Education, abrogated a contract it signed with the company for the supply of fabrics for the government’s free school uniform programme. He alleges that government is rather allowing various companies to import fabric from China against its initiative of encouraging Ghanaian textile manufacturing companies. “When we met with the then Vice President now President, the agreement was that they were going to channel all the governmental contracts for the police, army and the rest to the local industries. Some industries were advised to go and retool and they were promised government assistance in retooling in expectation of having this contract. Now as we speak, we don’t know what our future will be. As for Akosombo Textiles Ltd (ATL), they are not even producing at all. Their situation is worst” he lamented. Speaking on the Citi Breakfast Show, Moses Tetteh Zizzer, stated that government’s posture is killing the local textile industry. He is therefore asking government to help revamp the Local Textile Manufacturing industries to make them more competitive
“As we speak, Printex operates four days in a week. I know GTP has also slowed down with production because they are also facing same; and that is what has compelled us to be engaging in the race on the market to see if it will boost our production. The textile industry is on the verge of collapse because things are not that good for us” he stated. Meanwhile the Ministry of Education the Deputy Minister in-charge of Pre-tertiary at the Ministry, Alex Kyeremeh, has confirmed giving out contracts to individuals but denied direct involvement in the importation of fabrics from China for the programme. “The report is erroneous. There is no iota of truth in it. Last year, we had budget for the purchase of school uniforms to be distributed across the country and we invited bids and some Ghanaian companies took advantage of that and they were awarded to do that. So it’s not true that the Ministry bought textiles from China; we don’t do that. We normally give it to Ghanaian companies and they buy their own fabrics and sew the uniforms. I am not aware that they are buying from China. It hasn’t come to our notice that any of the companies bought anything from China “he explained.
SOURCE: The Citi Fm Online
Tanzania to be the next destination in Africa for investment as it offers friendly business environment underwritten by good investment policy and legislation as well as geographic location that makes her as a natural regional business hub. Tanzania Investment Centre (TIC) and the Ministry of Industry and Trade’s Textile Development Unit co-hosted the visiting investors to encourage them to consider Tanzania as new garment origin. TIC, according to a statement issued in Dar es Salaam yesterday, described the sizeable market of 48 million people, availability of raw materials, availability of semi-skilled and skilled labour as great incentives for investment. A TEAM from VF Corp’s Hong Kong sourcing office is currently visiting Africa and was in Dar es Salaam last Sunday. The team included the Managing Director of product supply, Vice-President of Sourcing, Merchandising director and the strategic engineer based in Tanzania. VF Corporation established in 1899, is a global leader in branded lifestyle apparel, footwear and accessories, with over 30 brands, 60,000 associates and 12.3 billion US dollars in revenue. Their businesses and brands are organized into five categories called coalitions, comprising: outdoor & action sports, Jeans wear, image wear, sportswear and contemporary brands. While VF is highly diversified across brands, products, distribution channels and geographies, their culture and approach to doing business provides unique and powerful competitive advantage. Their brands include: Wrangler, Lee Jeans and Nautica amongst many others. VFC has an exemplary record of ethical and environmentally-sound sourcing in both its own factories in the Caribbean and also with its subcontractors. Currently VF Corporation is placing orders in one factory in Tanzania and is considering expanding their purchasing from other sewing factories in the country.
SOURCE: Yarrns&Fibers
