INTERNATIONAL
Textile Raw Material Price 2015-11-4
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1083.29 |
USD/Ton |
0% |
11/4/2015 |
|
VSF |
2297.37 |
USD/Ton |
0% |
11/4/2015 |
|
ASF |
2044.47 |
USD/Ton |
0% |
11/4/2015 |
|
Polyester POY |
1045.48 |
USD/Ton |
1% |
11/4/2015 |
|
Nylon FDY |
2536.88 |
USD/Ton |
0% |
11/4/2015 |
|
40D Spandex |
5357.38 |
USD/Ton |
0% |
11/4/2015 |
|
Nylon DTY |
2757.48 |
USD/Ton |
-1% |
11/4/2015 |
|
Viscose Long Filament |
5874.21 |
USD/Ton |
0% |
11/4/2015 |
|
Polyester DTY |
1284.20 |
USD/Ton |
0% |
11/4/2015 |
|
Nylon POY |
2363.55 |
USD/Ton |
0% |
11/4/2015 |
|
Acrylic Top 3D |
2221.74 |
USD/Ton |
0% |
11/4/2015 |
|
Polyester FDY |
1110.87 |
USD/Ton |
1% |
11/4/2015 |
|
30S Spun Rayon Yarn |
2859.90 |
USD/Ton |
0% |
11/4/2015 |
|
32S Polyester Yarn |
1749.03 |
USD/Ton |
0% |
11/4/2015 |
|
45S T/C Yarn |
2710.20 |
USD/Ton |
0% |
11/4/2015 |
|
45S Polyester Yarn |
1906.60 |
USD/Ton |
0% |
11/4/2015 |
|
T/C Yarn 65/35 32S |
2316.28 |
USD/Ton |
0% |
11/4/2015 |
|
40S Rayon Yarn |
3025.34 |
USD/Ton |
0% |
11/4/2015 |
|
T/R Yarn 65/35 32S |
2599.91 |
USD/Ton |
0% |
11/4/2015 |
|
10S Denim Fabric |
1.10 |
USD/Meter |
0% |
11/4/2015 |
|
32S Twill Fabric |
0.93 |
USD/Meter |
0% |
11/4/2015 |
|
40S Combed Poplin |
1.02 |
USD/Meter |
0% |
11/4/2015 |
|
30S Rayon Fabric |
0.75 |
USD/Meter |
0% |
11/4/2015 |
|
45S T/C Fabric |
0.76 |
USD/Meter |
0% |
11/4/2015 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.15757 USD dtd. 04/11/2015)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
The Government of India held the Annual Conference of State Textiles Ministers 2015 on 4th November, 2015. The purpose of the conference was to assess the existing position and formulate strategy for exploiting the potential of the textile sector. The Conference was chaired by Shri Santosh Kumar Gangwar, Hon’ble Minister of State for Textiles (I/C). In response to the invitation, Hon’ble Ministers in charge of Textiles matters of 9 States, namely Smt. Bismita Gogoi (Assam), Shri Chander Prakash (J&K), Shri H. Rohluna (Mizoram), Shri Amenba Yaden (Nagaland), Smt. Snehangini Chhuria (Odisha), Shri Gajendra Singh Khimsar (Rajasthan), Smt. S. Gokul Indira (Tamil Nadu), Shri Brahma Sankar Tripathi (Uttar Pradesh), Shri Jupally Krishna Rao (Telangana) and Dr B.D. Chakma (Mizoram) attended the Conference and participated in the proceedings. Apart from ministers of these 9 states, senior official of 16 other states too participated in the Conference.
Shri Santosh Kumar Gangwar, Hon’ble Minister of State for Textiles (I/C) welcomed the State Ministers and said that since the last Textiles Ministers’ Conference inSeptember 2014, the Government of India has intensified its focus on improving governance and service delivery to the common man in the textile sector. He said that to this end, the Government has endeavoured to maintain close liaison with State Governments for supporting the textile industry, with a view to promoting production and employment in various segments of the sector. The Textiles Minister said that the Government’s efforts in this direction have been guided by the vision and governance principles of the Hon’ble Prime Minister -- of making development participative and inclusive, with stress on skill, scale and speed, following the motto of “zero defect, zero effect”. Shri Gangwar pointed out that the Ministry of Textiles has taken action on several of the suggestions and requests made by the states in the 2014 conference. He highlighted successes in the areas of textile parks, Apparel and Garment Making Centres in the North Eastern Region, handloom promotion, cotton procurement, skill development and turnaround of National Textiles Corporation, to name a few.
The Minister highlighted that the support of state governments is of utmost importance in all of the above. Accordingly, he requested states to provide necessary assistance and support to the textile sector, to complement the efforts of the Government of India. He said that this would enable the Central and state governments in collectively responding to present day challenges. He invited the valuable suggestions of states in meeting national development goals the nation has set for itself. Shri Gangwar concluded by saying that together, we can make Indian textile industry the best in the world and help the sector better serve the common man of the nation in improving his/her lot. The Minister launched the revamped website of the Ministry of Textiles: texmin.nic.in. The redesigned website is more user-friendly, allowing for easy navigation; it is disabled-friendly and has multi-language support as well. The aesthetically designed new website is compatible for use through tablets and mobile devices. The website provides information on all aspects of the textile sector, such as sectoral developments, schemes, initiatives and has links to all attached offices, subordinate offices, PSUs, statutory bodies and export promotion councils under the Ministry.
Dr. S. K. Panda, Secretary (Textiles) gave a brief presentation on various schemes, programmes and initiatives being undertaken by the Ministry, for the promotion of Indian textile sector. He outlined the vision and strategy of the Government for the textile sector, based on the philosophy of ‘Sabka Saath Sabka Vikaas’, with the following key components:
The Secretary also gave a glimpse of the achievements of the Ministry:
The State Ministers gave their considered views and suggestions on various issues relating to the sector, such as promotion of handlooms and handicrafts, textile processing, textile parks, sericulture, mega clusters and other state specific issues. The Minister from Assam desired special support for sericulture. Ministers from both Assam and J&K expressed the need to have additional campuses of NIFT. Telangana requested that the procurement of cotton through MSP operations be strengthened. Textile Ministers from Nagaland and Mizoram asked for increase in the allocation under NERTPS. The Tamil Nadu Minister expressed the need for additional support for handloom weavers. The Odisha Minister too asked for special support for handloom sector. The Rajasthan minister said that in view of issued faced by the textile processing industry, special support should be given to the sector under IPDS. The Uttar Pradesh Minister sought more support for powerloom cluster. The Union Textile Minister took note of the suggestions and requests raised by the states and assured them that the Government will examine them and do the needful.
Summing up the deliberations, Dr. S. K. Panda thanked the state governments, noting that they have given many useful suggestions; he assured the audience that the Government of India will examine every single suggestion and take appropriate action. The Secretary told that in view of the recommendations of the 14thFinance Commission to increase state share of central taxes from 32% to 42%, states should make more provisions for schemes which have been transferred to them. In this regard, he complimented states such as Tamil Nadu which have made very specific provisions to help the textile sector. The Uttar Pradesh Textile minister sought more support for powerloom sector. The Union Textiles Minister noted all the suggestions and requests, and assured the states that the Government of India will look into them and do the needful.
Dr. Panda spoke of the need and importance for Government officials to visit other states, in order to pick up and implement best practices. With reference to the concerns raised during the conference, the Secretary said that the Government is very sensitive to the requirements of North East India as well as Jammu & Kashmir; he added that the approach of the Ministry is to focus on quality production and branding, and not on subsidies. The Secretary said that the Technology Upgradation Fund Scheme (TUFS) is in the final stage of revision and that it will be notified soon. Speaking on mega textile parks, the Secretary said that the Government has amended guidelines; he exhorted the states to make land available and motivate entrepreneurs to come forward. Replying to concerns on Scheme for Integrated Textile Processing Development, Dr. Panda said that a committee involving IIT Delhi, IIT Madras, IIT Bombay and Textile Research Associations have been formed, so that the best possible technology can be adopted for the same. He also said that the much-awaited Textiles Policy is in an advanced stage of finalization.
SOURCE: PIB
Centre today urged the state governments to fast-track approvals in setting up of textile parks, which are expected to create 4.5 lakh jobs with an investment of Rs 30,000 crore. "I would like to point out that there are difficulties in getting environmental clearances in several states. I would urge the state governments to show interest on this issue and expedite much-needed clearances," Textile Minister Gangwar said while addressing the state textile ministers conference. The minister informed that till now, 72 textile parks have been sanctioned under the Scheme for Integrated Textile Parks (SITP), which are expected to provide employment to 4.5 lakh people with an investment of Rs 30,000 crore. "On textile parks, we need more cooperation from state governments. We find that in a number of cases, entrepreneurs are facing difficulties in getting land, in getting clearances, in getting electricity connection," Textiles Secretary S K Panda said. Besides, the minister said a modified Technology Upgradation Fund Scheme (TUFS) will be introduced shortly. "TUFS had earlier faced difficulties... We had appealed to the Prime Minister that the scheme should be continued in a more organised manner. Therefore, the government is coming out with a modified TUFS scheme, which will be unveiled shortly," Gangwar said. TUFS is being revised to support employment generating and export oriented segments to meet challenges in global market, he said. TUFS was introduced in 1999 to catalyse investments in all the sub-sectors of textiles and jute industry by way of 5 per cent interest reimbursement. "We have assured the Prime Minister that apparel and garment units will be functional in every north-eastern state in the country by December. Each unit will be set up with an investment of Rs 18.18 crore, with land provided by respective state governments. We believe that the unit in every state will generate 1,500-2,000 jobs from December," Gangwar said.
During 2014-15, Cotton Corporation of India (CCI) procured over 46 lakh bales cotton from 341 centres across the country. This year too, the cotton production is good although Punjab is facing some difficulties. Cotton production is likely to be good this year as well. The minister also spoke about the cotton production in the country, and said that for the first time, payments will be electronically transferred directly to bank accounts of cotton farmers. Besides, he said, the government was making efforts to diversify jute products, especially through women self-help groups and has opened Common Facility Centres in Bihar, West Bengal and Assam. On increasing silk production, he said an Integrated Silk Production Scheme ( ISPS) has been started in the North-East states with an outlay of Rs 722 crore.
SOURCE: The Economic Times
Accelerated by the Centre's recent export incentive push, Tamil Nadu's yarn manufacturers, faced with a high margin pressure on oversupply, are making investments to go one notch up to fabrics and win better deals from Indian and foreign buyers. A minimum of 25 mills have ventured this way, either by installing knitting machines or going further toward complete garments, coinciding with the Department of Commerce's export sop proposed last week. The export push included introduction of new products and export target nations to its list of items eligible for support in a move to prop up shipments after a steady decline in exports led to speculation of exports falling behind the previous year's numbers. Textile items such as abrics and synthetic textiles, which are facing a Chinese import onslaught in India, were included in the export incentive list that includes pharmaceutical, auto components, telecom and transport equipment among others. "In Tamil Nadu, the big garment makers are into reverse expansion to set up their own yarn units but the reverse is not happening much because there is a risk of holding inventory without knowing there is a buyer. This central government incentive has brightened possibilities of forward integration," said Srihari Balakrishnan of MD of denims maker KG Fabriks, a company that had expanded into fabrics and garments nearly a decade ago and doing well. In terms of expenditure for a textile unit that wants to diversify, a knitting machine from Taiwan costs Rs 15 lakh while a European import will cost Rs 25 lakh. With additional costs into labour, power, marketing and so on, a bid to move up for an average textile mills will cost Rs3 crore. Tamil Nadu boasts a yarn manufacturing capacity of 2.25 crore spindles but only a handful have pumped in money to become fabric manufacturers. While there are Rs 1,000-crore companies in the textile belts around Coimbatore and Tirupur, the majority falls in the `. 50-200 crore turnover bracket and a good number under Rs 50 crore.
SOURCE: The Economic Times
Manipur Commerce and Industries Minister Govindas Konthoujam explained on what the Manipur Government was going to do under ‘Make in Manipur’ for Make in India initiative of the Government of India. Participating in the annual textile conference held today at India Habitat Centre with Union Minister of State for Textiles (Independent Charge), SK Gangwar in the chair, Govindas Konthoujam stated that the economy of Manipur was primarily based on agriculture, horticulture, forestry, handloom, handicraft, sericulture, animal husbandry etc. He said, “We are setting up Livelihood Business Incubators (LBI) and Technology Business Incubators (TBI) in all the nine districts of Manipur. In addition, we are planning to set up Rural Industry Service Centres (RISC) in each of 61 Blocks in Manipur. In these LBI, TBI and RISC we are planning to train and upgrade the skills of our educated unemployed youth for taking up entrepreneurial activities under MUDRA, PMEGP, Food Processing Fund of NABARD, Credit Guarantee Fund Trust Scheme of MSME sector, apparel and garment making, power loom, post cocoon activities. After making forward and backward linkages we will arrange suitable financing so that they can take up micro and small enterprises in order to earn additional income of minimum Rs 60,000 per annum. Since we have the highest density of Handloom weavers, the income generation potential through the sustained efforts in handloom, handicraft and sericulture is huge in Manipur”. He informed that as advised by the Union Secretary of Textiles on March 24 this year, in a meeting with him in Imphal, the State Government submitted proposals for 10 block level handloom clusters, 10 handicraft clusters and sericulture cluster proposals under North East Region Textile Promotion Scheme (NERTPS) to the concerned agencies under Ministry of Textiles. He urged the Union Minister, Textiles to announce the sanctions of those projects to give a boost to Make in Manipur which was part of Make in India initiative of Government of India. He recalled that when the Union Minister and the Secretary of Textiles had visited Manipur on March 23 this year in Manipur, Manipur Chief Minister Okram Ibobi Singh had outlined the vision of State Government of Manipur that only additional employment generation on a mass scale would lead to the path of peace and prosperity in Manipur.
Based on his vision, he had advised his officials to devise a road map for realising the vision. He was proud to announce there that the State Cabinet of Manipur in its meeting held last week approved the proposal for launching the State Mission of ‘Make in Manipur initiative for Employment Generation’ in the Sangai Festival in Manipur to be held in the last week of November 2015. He extended his invitation to the Union Minister of Textiles and all the State Ministers of Textiles from different States to attend the launch of the mission and also enjoy the State hospitality during Sangai Festival, an annual international festival showcasing ‘Make in Manipur Exhibition’, tourism potential and arts & culture of Manipur. Govindas Konthoujam expressed gratitude to the Centre for sanctioning Rs 13.17 crore for power loom and Rs 235.76 lakh for four Block Level Handloom Clusters under NHDP, Rs 149.76 crore for Manipur Sericulture Project in four valley districts and Rs 30.39 crore under Integrated Sericulture Development Project for Eri and Mulberry in Hill District in Manipur. He informed that the skill development under Integrated Skill Development Scheme is in progress observing all the formalities and norms of biometrics attendance, online enrolment, installation of webcam, laptop, solar light, etc. A target of 7000 trainees were to complete within March next year. He also mentioned that the State Government was implementing 51 Cluster Development Projects under NERTPS with a total sanctioned amount of Rs 30.01 crore. However, the 2nd instalment claimed in February, 2015 was not released for want of “midterm evaluation and impact of scheme”.
SOURCE: The Sangai Express
A Commerce Ministry panel will discuss ways to arrest decline in exports, which are in the negative zone since December last year, in Goa on November 6. The meeting of the Consultative Committee of the Ministry of Commerce will be chaired by Commerce and Industry Minister Nirmala Sitharaman. The Director General of Foreign Trade will give a presentation on the foreign trade policy to the committee, which comprises 11 Members of Lok Sabha, and seven Members of Rajya Sabha. "The continuous dip in exports will be discussed besides ways to boost the country's exports. Senior officials of the ministry will also attend the meeting," an official said. Ministers of State for Parliamentary Affairs Rajiv Pratap Rudy and Mukhtar Abbas Naqvi are ex-officio members of the committee. Declining for the 10th month in a row, the merchandise exports dipped 24.33 per cent in September to $21.84 billion, mainly due to steep fall in shipments of petroleum products, iron ore, and engineering goods amid tepid global demand. Federation of Indian Export Organisations (FIEO) has said that the decline of 17.6 per cent in first six months of the fiscal will put enormous pressure even in realising the export figure which India achieved in 2014-15. In that fiscal, India's exports were aggregated at $310.5 billion. Recently the commerce ministry has given additional incentives of Rs 3,000 crore to several products, including textiles and electronics to boost exports.
SOURCE: The Economic Times
Finance Minister Arun Jaitley on Wednesday said that passing GST is a question of time and as and when it is put to vote he sees it going through. He was speaking at the World Economic Forum (WEF) hosted along with the Confederation of Indian Industry (CII). He further added that Goods and Services Tax (GST) bill when passed will allow for the levying of a national comprehensive tax on goods and services manufactured in India. The theme of the meet is ‘Delivering Growth in the New Context’.
Key points from his opening address
The Congress, which is the main opposition and which had drafted the key GST Bill, is also against the NDA version of the bill saying many key provisions of the original bill have been altered. Since the government does not have majority in the Rajya Sabha, it needs to get the opposition on its side to pass the GST Bill that involves amending the Constitution.
SOURCE: The Financial Express
Shri Ajay Tyagi, Additional Secretary, Department of Economic Affairs, Ministry of Finance and Mr Ramin Toloui, Assistant Secretary for International Finance, U.S. Department of Treasury participated in the second Meeting of the U.S-India Investment Initiative, held here today. Following is the Text of the Joint Press Statement issued after the second U.S-India Investment Initiative Meet today: “The U.S.-India Investment Initiative will help our governments discuss and explore capital market reforms and policy measures to spur long-term investment by domestic and foreign investors in India.” “Our discussion today focused on potential policy measures that could deepen India’s capital markets and drive greater U.S. investment in India. Specifically, we discussed new initiatives to mobilize private capital to fund infrastructure, policies that can develop a deeper and more liquid corporate debt market, and instruments to help sub-sovereign governments raise financing for development. We also discussed potential avenues of technical collaboration between the Ministry of Finance and Treasury in developing deeper and more robust Indian capital markets. We look forward to continued engagement between India and the United States on economic issues at the sixth annual U.S.-India Economic and Financial Partnership Dialogue in Washington, D.C. in 2016.”
SOURCE: PIB
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$ 46.78 per barrel (bbl) on 04.11.2015. This was higher than the price of US$ 45.93 per bbl on previous publishing day of 03.11.2015.
In rupee terms, the price of Indian Basket increased to Rs 3066.99 per bbl on 04.11.2015 as compared to Rs 3006.22 per bbl on 03.11.2015. Rupee closed weaker at Rs 65.57 per US$ on 04.11.2015 as against Rs 65.45 per US$ on 03.11.2015. The table below gives details in this regard:
|
Particulars |
Unit |
Price on November 04, 2015 (Previous trading day i.e. 03.11.2015) |
Pricing Fortnight for 01.11.2015 (Oct 14 to Oct 28, 2015) |
|
Crude Oil (Indian Basket) |
($/bbl) |
46.78 (45.93) |
45.55 |
|
(Rs/bbl |
3066.99 (3006.22) |
2958.93 |
|
|
Exchange Rate |
(Rs/$) |
65.57 (65.45) |
64.96 |
SOURCE: PIB
Zimbabwe government is yet to gazette Statutory Instruments (Sis) discouraging cheap imports of textile products into the country due to which the local textile industry has been operating at below 30% of capacity in the first-half of the year, said Zimbabwe Textile Manufacturers’ Association (ZTMA) secretary-general Raymond Huni. The government is in the process of gazetting the SIs enforcing the rebates introduced by the Finance minister (Patrick Chinamasa). They hope that the SI would be gazetted in two weeks’ time and it’s only after that they will start realizing some changes. Huni said that the textile sector knows that government has no money and this was the reason why it needed protection from cheap imports. Some companies such as National Blankets who applied for the Distressed Marginalised Areas Fund have not yet received it. According to Huni, if the ban on second-hand clothes was implemented it would see the sector double its contribution to Gross Domestic Product to 10%.
Finance Minister, Patrick Chinamasa in his Mid-Term Fiscal Policy review, introduced the manufacturers’ rebate of duty on critical inputs imported by approved textile manufacturers. This rebate covers spare parts, yarn and unbleached fabric, among others. Furthermore, it was proposed to remove blankets from the Open General Import Licence for a period of 24 months. Poly-knitted fabric is currently imported in semi-processed form, hence undergoes very limited local value addition before transformation into a blanket, which competes with locally manufactured blankets. To that effect, government will increase customs duty on poly knitted fabric from 10% to 40% plus $2,50 per kg.
Local textile industry is currently in distress with Bulawayo in particular which used to be a major textile centre having many companies either scaled down or closed. Some of the companies that have closed include True Value, Label Fashion, Suntosha Leisure Wear, Luncaster, Harren Manufacturing, Ascot, Belmor Fashions, Cinderella and Rusglen Fashions. Recently, textile and clothing manufacturers cried foul over the alleged abuse of the Sadc and Common Market for Southern Africa (Comesa) trading certificates by countries outside the region. The associations said that Sadc and Comesa certificates were now being abused by outside countries. The $40 million Distressed Marginalised Areas Fund (Dimaf), which was created in 2010 to help companies retool, largely failed to turn around the industry’s fortunes. The textile sector requires at least $20 million to revive the industry currently reeling under the influx of cheap imports and low capitalization levels.
SOURCE: The Global Textiles
Echoing ITMA 2015's theme of 'Source Sustainable Solution', Taiwan Textile Federation (TTF) has invited seven large fibre and yarn manufactures to show their latest products at the forthcoming fair to be held in Italian city of Milan from November 12-19. TTF will display the highlights of the seven co-exhibitors—Acelon, Chainlon, Everest, Far Eastern New Century, Hung Wang, Shinkong and Yi Jinn—at hall 8, booth C119, the organisation said in a press release. Chainlon, which has been engaged in green technologies in recent years, will feature Greenlon recycled yarn, dope dyed yarn and deep dyed yarn, appropriate for sports, fashion, industrial and other end uses. Ever Seamless Body-mapping made by seamless or jacquard machine will be showcased by Everest. The superb compressibility can enhance the blood circulation, reduce muscle injury and improve athletic performance. It can be combined with mesh layer to achieve a good wicking effect. The 4-way stretch feature is body-mapped to ensure optimum comfort during use. For those who go to night-sports like running and jogging, Far Eastern New Century brings Toplumins, a kind of luminescent yarn which can be self-luminous in dark environment after a short light-storage, enhancing the safety of night-time sports. It is suited for gloves, caps and shoes etc. Far Eastern will also promote its another latest product, PET two tone filament, which provides multiple combinations of colours. It also provides thick and thin effects for those who endear fashionable look.
Hung Wang, which specialises in horsehair braid, will display crinoline made of 100 per cent polyester—a perfect for wedding dress and millinery use. Another specialty is a kind of straw braid consisting of 4 per cent polyester and 96 per cent paper yarn which attribute the properties of light weight and coolness. ShinCool Fibre form Shinkong is a hydrophilic polyester fibre designed to enable an active temperature and humidity management. Its high hygroscopic characteristic with inherent anti-static function, provides better moisture regain rate of 2.2 per cent than any regular fibre. Another version of ShinCool+ is featured hollow fibre which offers higher water absorption and liberation yet light weight.
SOURCE: Fibre2fashion
Malaysia’s leading trade fashion and lifestyle event, FACIT@INTRADE and Malaysia Fashion Week (MFW) 2015, part of Malaysia External Trade Development Corporation (Matrade)'s signature event called International Trade Malaysia begins today. FACIT@INTRADE and MFW 2015, a collaborative effort between Matrade and Malaysian company, Stylo International, features 290 booths with 68 percent Malaysian and 32 percent international businesses from 14 countries. Second International Trade and Industry Minister Datuk Seri Ong Ka Chuan after officiating the event said that the fashion and textile industry offered huge potential for trade given the many talented local designers, especially global fashion icon Jimmy Choo. He further said that Malaysia have never experience a trade deficit since the financial crisis in 1997. Malaysia's continued trade surplus in the past 216 consecutive months, despite current economic challenges, has showcased the country's healthy and strong fundamentals. On an average, Malaysia's monthly exports stood at RM66 billion while imports amounted to RM56 billion.
MITI had been assigned to form a committee to look into technical and vocational training for youths who are not academically inclined but are talented in technical and vocational aspects. This committee will lead these gifted young people to explore their talent in fashion and design, Ong said. Meanwhile, Matrade Chief Executive Officer and MFW Chairman Datuk Dzulkifli Mahmud expected the event to generate 10 percent higher sales this year compared with RM90.3 million recorded last year. The country’s only trade fashion show will run from 4-7 November at Matrade Exhibition Convention Center, MECC, Kuala Lumpur, Malaysia and will be open to public from on 6-7 November.
SOURCE: Yarns&Fibers
ACIMIT, the Association of Italian Textile Machinery Manufacturers, has announced the release of a new video on innovation, created by Italian Trade Agency and financed by the Italian Ministry for Economic Development. The video on textile innovation created in partnership with ACIMIT highlights the strong culture of innovation that distinguishes Italian textile industry. The association is getting ready to promote its values at the upcoming ITMA 2015 textile machinery exhibition that is scheduled to open its doors to international audience in Milan next week.
Innovations and technology
The video focuses on a fabric, a fundamental ingredient for expressing style, originality, as well as reliability, performance and comfort. In order to achieve these qualities, a textile sector must be highly innovative, the association reports. The video aims to promote Italy textile industry, where the indispensable synergy between textile, chemical and mechanical sectors are all part of a longstanding tradition. The video features interviews with Andrea Parodi, President of Texclubtec, and Alberto Paccanelli, President of the technology platform for the Italian textile and clothing industry. Both experts confirm that innovative textiles developed for technical applications are quickly becoming a significant factor in the production chain in Italy.
Italian technical textiles
Italian technical textiles account for EUR 3.5 billion in annual revenue, employing 42,000 people in roughly 800 companies, totalling around 12% of Europe’s textile turnover. Outside of Italy, technical textiles are also developing quickly, with nearly 30% of textile materials produced designed for technical applications. Expected growth in this sector from now till 2020 is exponential, especially concerning composites and nonwovens. This growth in the industry’s technical segments is marked by the essential role played by the technology adopted, the association reports. Over 120 Italian manufacturers produce machinery designed for the production of technical products, with a turnover in Italy for the sale of this specific type of machinery amounting to EUR 400 million, accounting for 15% of total revenues for the Italian textile machinery sector.
SOURCE: Innovation in Textiles
A number of foreign investors who attended the opening day of 'Pakistan Investment Conference' reposed confidence in the government's efforts to attract foreign direct investment to Pakistan. Talking to APP at the sidelines of the conference, being organized by the Board of Investment (BOI) here on Wednesday, they expressed satisfaction over the improving law and order situation in the country, a prerequisite for foreign investors. They also appreciated the government's policies for providing a level playing field for investment in different sectors of Pakistan's economy including energy, infrastructure, health, education and agriculture sectors. Anna V. Dashkova, Chief of Foreign Economic Relations Department, Republic of Belarus, who is heading a 40-member delegation said that the investors from Belarus were keen to cooperate in agriculture sector mechanization. She said that both Pakistan and Belarus could enhance their bilateral cooperation in manufacturing tractors and other equipment to further promote the agriculture sector.
Vitali Hancharyk, Deputy General Director for Foreign Economic Relations, Belarus appreciated the government for considerably improving law and order situation by fighting the menace of terrorism. She appreciated the Board of Investment (BOI) for organizing this important conference for mustering foreign investment in different sectors. Commenting on the investment opportunities in Pakistan, Yousaf M. Buzaboon, Ambassador for Peace, Bahrain said that Pakistan was enriched with huge mineral resources including oil and gas and there was great opportunities for the investors to invest in exploration and production sectors. He said the conference would provide a platform to the foreign investors to exploit the investment potential existing in different sectors including trade, textile, agriculture, manufacturing etc.
Robert N Webb, Chairman MAM Enterprises, a Karachi based Canadian company, said that Pakistan was blessed with young population which could be used for achieving economic targets. He said that cheap labour and skilled youth could be utilized for enhancing production in different sectors. He also expressed the confidence that Pakistan would be able to improve its soft image by holding such conferences.
Kevin Lu, President, BFT Marine (HK) Limited, Beijing China said that a number of Chinese companies were operating in different sectors in Pakistan. He said these companies were making reasonable profit and providing job opportunities to a large number of local skilled and semi-skilled work force. He said both the countries have initiated mega projects under China Pakistan Economic Corridor (CPEC), which would further cement trade and investment between both the countries. He said more Chinese investors would take keen interest in the investment opportunities in energy, railways and infrastructure development. It may be mentioned here that 238 foreign investors from over 29 countries including China, Turkey, Bahrain, UK, USA, Kuwait, Canada, Sweden, Sri Lanka, Egypt, UAE and Tanzania are attending the conference. As many as 19 companies of international repute are also participating in the Conference aimed at promoting and encouraging the local investors by providing them level playing field for investing in different sectors of national economy.
SOURCE: The Business Recorder
