|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1036.89 |
USD/Ton |
-0.45% |
12/3/2015 |
|
VSF |
2187.68 |
USD/Ton |
-0.28% |
12/3/2015 |
|
ASF |
2024.62 |
USD/Ton |
0% |
12/3/2015 |
|
Polyester POY |
994.76 |
USD/Ton |
-0.08% |
12/3/2015 |
|
Nylon FDY |
2395.21 |
USD/Ton |
0% |
12/3/2015 |
|
40D Spandex |
5102.51 |
USD/Ton |
0% |
12/3/2015 |
|
Nylon DTY |
2676.09 |
USD/Ton |
0% |
12/3/2015 |
|
Viscose Long Filament |
5817.17 |
USD/Ton |
0% |
12/3/2015 |
|
Polyester DTY |
1240.52 |
USD/Ton |
0% |
12/3/2015 |
|
Nylon POY |
2223.57 |
USD/Ton |
0% |
12/3/2015 |
|
Acrylic Top 3D |
2200.16 |
USD/Ton |
0% |
12/3/2015 |
|
Polyester FDY |
1042.35 |
USD/Ton |
0% |
12/3/2015 |
|
30S Spun Rayon Yarn |
2824.32 |
USD/Ton |
0% |
12/3/2015 |
|
32S Polyester Yarn |
1638.42 |
USD/Ton |
0% |
12/3/2015 |
|
45S T/C Yarn |
2637.08 |
USD/Ton |
0% |
12/3/2015 |
|
45S Polyester Yarn |
1810.06 |
USD/Ton |
0% |
12/3/2015 |
|
T/C Yarn 65/35 32S |
2246.98 |
USD/Ton |
0% |
12/3/2015 |
|
40S Rayon Yarn |
2995.97 |
USD/Ton |
0% |
12/3/2015 |
|
T/R Yarn 65/35 32S |
2574.66 |
USD/Ton |
0% |
12/3/2015 |
|
10S Denim Fabric |
1.09 |
USD/Meter |
0% |
12/3/2015 |
|
32S Twill Fabric |
0.92 |
USD/Meter |
0% |
12/3/2015 |
|
40S Combed Poplin |
1.00 |
USD/Meter |
0% |
12/3/2015 |
|
30S Rayon Fabric |
0.74 |
USD/Meter |
0% |
12/3/2015 |
|
45S T/C Fabric |
0.75 |
USD/Meter |
0% |
12/3/2015 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.15604 USD dtd. 03/12/2015)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
To boost exports in the textile and clothing sector, the government is likely to renew focus on some of the segments that are already doing relatively well so that India’s dominance is further entrenched in those areas, according to official sources. The Centre is also seeking to make it more attractive for exporters to tap markets with immense potential for outbound shipments of textile and clothing items, notably Africa, to widen the geographical spread of the export market and reduce dependence on the developed world — mainly the US and the EU — and China to somewhat beat any slowdown in these markets, they added. While the country’s total exports contracted for an eleventh straight month through October, overall textile and clothing exports — which also include those of handicrafts and carpets — put up a somewhat better show. “Amidst the gloom, the textile and clothing sector not just managed to beat a global slowdown but also rose a tad,” textile secretary Sanjay Kumar Panda told FE.
According to the latest data, overall textile and garment exports rose 0.6% to almost $18 billion in the first half of the current fiscal from a year before, while the country’s overall exports plunged by 17.6% during the period. Consequently, the share of such textile and clothing exports in the country’s overall exports have risen to 13.5% in the April-September period this fiscal from 11.1% a year before. The textile ministry will further intensify focus on segments like handicrafts that have witnessed good growth in exports and have immense employment potential, Panda said. Both the textile and the commerce ministries are engaged in formulating new strategies to further boost exports in the sector, also because it is the largest employment provider after agriculture, accounting for some 45 million jobs.
Moreover, the need to tap new markets has arisen more than ever, as China’s economy is set for a prolonged slowdown and the developed world is still struggling with a fragile recovery. While China is the biggest market for textiles, accounting for over 70% of India’s cotton and 40% of yarn supplies, the US and the EU are the largest markets for Indian apparel, making up for roughly 65% of our garment exports. Although it wouldn’t be easy to reduce the dependence on such markets meaningfully in the near future and remain unaffected to any slowdown there, given the scale of exports to these nations, the diversification to Africa will help India in the long run, said the officials. Panda said to promote textile exports in new markets, the government has raised support to outbound shipments of more textile products under the Merchandise Exports from India Scheme (MEIS). Most of the textile and garment items, which were earlier not availing much of a benefit, are now granted a 3% duty credit scrip under the MEIS to tap markets such as those in Africa, he added.
Recently, the government introduced 110 new tariff lines, including textile, telecom and electronic items, in the MEIS and increased the duty benefit rates or the country coverage, or both, for 2228 existing tariff lines. The commerce ministry’s move to partially tweak the MEIS came after the finance ministry had agreed to raise the allocation for the scheme to R21,000 crore for the current fiscal from R18,000 crore announced earlier. Under the MEIS, the government provides exporters duty credit scrip at 2%, 3% and 5% of their export turnover, depending upon the product and the country, as envisaged in the foreign trade policy 2015-20. The scrip can be transferred or used for payment of a number of duties, including the basic customs duty. Similarly, higher support has been granted to certain textile products, many of which are manufactured by MSMEs. Even readymade garments and handmade woolen shawls have been offered more support, while additional countries have been covered for selected leather products, iron, steel, and base metals.
India’s merchandise exports have recorded contraction in each month since December 2014, as a crash in commodity prices and a global slowdown hurt shipments of petroleum products, iron ore, and engineering goods. Cotton fabrics — both woven and knitted — and madeups to markets such as Africa now enjoy benefits such as the duty credit scrip benefits. According to TEXPROCIL chairman RK Dalmia, cotton fabrics exports could rise 10-15% annually and India can offer products at competitive prices.
SOURCE: The Financial Express
National Textile Corporation Limited (NTC Ltd) became the 51st Public Sector Undertaking (PSU) and 49th Central PSU to sign a Memorandum of Understanding (MoU) with Transparency International India (TII) for adopting Integrity Pact (IP). The signing ceremony was attended by Shri K V Chowdary, Central Vigilance Commissioner; Dr. S. K Panda, Secretary, Textiles, and other senior officials from Ministry of Textiles. Integrity Pact is a tool which ensures that all activities and transactions between a Company or Government Department and their Suppliers are handled in a fair, transparent and corruption-free manner. It prohibits any kind of bribing, favour or any other unethical practice, which is closely monitored by honorary Independent External Monitors (IEMs).
Addressing the gathering, Shri K V Chowdary, Central Vigilance Commissioner said that Independent External Monitors (IEMs) should not be seen as umpires but as guidance providers. IEMs are there to throw light on the issues faced by vendors and advise the management regarding the same. He further added that any vendor who has a genuine grievance can approach the IEM. Observing that the signing of the MoU was a momentous step for NTC, Shri Chowdary said that the adoption of the Integrity Pact will formalize the various measures being undertaken by NTC to bring in fairness and transparency.
Dr. S. K. Panda, Secretary, Textiles said that vigilance is important for the health of any organization, more so in the public sector, since public money is involved. He said that one should follow rules and guidelines, and that where any deviation is made in organizational interest, the rationale for such deviation should be recorded in writing. He also highlighted the need for building strong systems, especially by the use of technology.
Shri P C Vaish, Chairman and Managing Director, NTC Ltd signed the MoU on behalf of their organization and Shri P S Bawa, Chairman, Transparency International India signed on behalf of TII. With the approval of Central Vigilance Commission, Shri Kalyan Chand, Ex Director General, Taxes and Shri Ashok Kumar Tripathi, Ex-Member, Company Board have been appointed Independent External Monitors to oversee the implementation of Integrity Pact at NTC Ltd. NTC Ltd desires to implement Integrity Pact in over 95% of contracts. The Integrity Pact was prepared as per the guidelines laid down by the Central Vigilance Commission.Shri Vaish said that NTC Ltd has been a transparent and fair organization and signing the Integrity Pact will give rejuvenated strength to the organization.
SOURCE: The Business Standard
The textile industry has been one of biggest polluters in the country. Now, the Central Government has decided to crack the whip. According to media reports, a draft notification of the Government has directed the textile industry to strictly follow Zero Liquid Discharge (ZLD) norms. ZLD essentially means that a factory should recycle all its effluents and not release even a drop into any water body. According to the guidelines, all textile units including dyeing units, cotton or wool processing units and integrated factories generating over 25 kilo litre of effluents daily must install Zero Liquid Discharge effluent treatment plants. The notification is being seen as a first serious step towards cleaning the pollutants that has been discharged into the water bodies by the textile units over the period of time.
The Indian textile industry is a heavy polluter, and some factories in Gujarat and Tamil Nadu in 2011 were closed down by court orders and in Rajasthan this year. Gujarat's Vapi Industrial area that comprised 22 textile units, for example, had gravely polluted and destructed the ecosystem of the area, before it was shut down in 2011. The pollution is mainly caused by untreated or partially-treated effluents released from the units into streams, rivers, oceans. It pollutes water bodies of the area and also contaminates the aquifers. The implications of Zero Liquid Discharge (ZLD) norms, if implemented, will hamper the growth of textile industry. A scrutiny of the notification reveals that it could do more harm than good, to both the industry and the environment.
Several clauses in the draft policy can potentially wipe out the textile industry. While the draft policy is meant to force the textile industry to clean up its act, the “Zero Liquid Discharge” implies a complete stop to the release of any pollutants. But it has been observed that even when effluents are treated in a ZLD plant, sludge remains and has to be dumped. Secondly, according to an estimate, a textile unit that generates 100 tonnes of effluents will end up generating 500 tonnes of effluents if they reduce the Chemical Oxygen Demand to 200mg/litre. This will create the problem of dumping the sludge. Chemical Oxygen Demand or COD test is commonly used to indirectly measure the amount of organic compounds in water. The ZLD system is not very cost effective either. Several small and medium scale industries cannot afford it even if they go for a common facility. This might force them to close down.
SOURCE: Fibre2fashion
Aditya Birla Group, the world's largest viscose staple fibre (VSF) maker, is driving an initiative to handhold a large number of textile value-chain partners across the country by supporting them from design development and technical support to marketing and buyer linkages. With this initiative, the USD 41-billion company wants to help propel the country to be the world's top cloth manufacturing hub. As part of the national drive, called Liva Accredited Partner Forum (LAPF), aimed at improving the entire gamut of the textile value-chain, Birla Cellulose -- the pulp and fibre division of Grasim -- is organising a stakeholder conclave in the southern textile hub of Coimbatore on December 4. The conclave will be attended by over 200 value-chain partners, including spinners, fabricators and processors, Birla Cellulose chief marketing officer for pulp and fibre business, Rajeev Gopal told PTI. The initiative will be held in New Delhi later.
Gopal also said they are collaborating with Mumbai-based Netcarrots to implement a customer relationship marketing programme for the stakeholders assembling in Coimbatore. The company has also tied up with Bombay Textile Research Association to undertake quality improvement programmes and stringent audits for the partners. "We see potential in India becoming a textile and clothing manufacturing hub following the encouraging response of LAPF members who have excelled in product innovation, quality management, process deliveries and systems integration and upgrade.”Our plan is to strengthen the textile value chain and make it align with the 'Make in India' strategy of the government," Gopal said.
The LAPF programme has around 250-plus members, including spinners, weavers, knitters and fabricators, with major participation from textile hubs such as Tirupur, Erode, Ludhiana, New Delhi, Kolkata, Surat and Bhiwandi near Mumbai, among others. The programme is linked to Birla Cellulose's fibre brand Liva, which was launched in March this year, in line with the group chairman Kumar Mangalam Birla's vision of establishing connect with the end consumer. "We've already partnered with over 190 fabricators and close to 120 processors across the country and the interaction with them has strengthened our belief that the country has the potential to boost consumption and emerge as a global textile power," Birla Cellulose President for marketing & business development, Manohar Samuel told PTI. The partners are shortlisted for the programme after they comply with eight stringent parameters.
After the selection, the company will equip them with five major services such as design and development, technical services, vendor management, marketing and buyer linkages support and market intelligence, Samuel said. This has resulted into a ripple effect with more textile companies showing interest in joining the programme, which has changed the dynamics of the sector, he added. The LAPF partners, including textile fabricators, promote or market their products with Liva accreditation as the Liva tag in a garment segment promises high quality fabrics.
Leading brands such as Pantaloons, Van Heusen, Allen Solly, People, Global Desi, Lifestyle, Melange, Shoppers Stop, Reliance Trends, Wills Lifestyle, Desi Belle Chemistry, F-109, Fusion Beats, FBB and Max use Liva-branded fabric, Samuel said. Birla Cellulose is the leading player in the VSF industry with 93 per cent market share. The company has reportedly spent over Rs 100 crore to build the brand Liva.
SOURCE: The Economic Times
The share of India’s trade in its GDP slid to just 42.6% in Q12015-16 from a peak of 55.6% in all of FY13, in what would be the most dramatic decline since liberalisation, says a Crisil study, reports fe Bureau in New Delhi. While a global slowdown, as pointed out by policymakers like finance minister Arun Jaitley, did affect exports, that alone cannot cause such a huge plunge (5.6% in H1 this fiscal) in goods and services exports, the report said. India is even trailing other major Asian countries in export growth, indicating that there is more than meets the eye and things like the adverse effect on export of petroleum products from the fall in crude oil prices won’t suffice to explain the country’s lukewarm show.
India’s merchandise exports plunged for the 11th straight month through October. While the cyclical component of exports will inch up when cyclical factors (world GDP growth and commodity prices) turn favourable, it is structural issues such as falling competitiveness in the export market and both tariff and non-tariff barriers on which India can and has to work hard if it is to realise its ambitious export (both merchandise and services) target of $900 billion by 2019-20 from $470 billion in 2014-15, said the report.
Pro-activeness in forging new trade pacts to counter the impact of the Trans Pacific Partnership (TPP) forged between 12 countries, including the US, is also required. The World Trade Organisation has predicted stagnant trade growth at 2.8% in 2015, which would be below 3% for a fourth straight year and even lower than the global GDP growth of 3.1% projected by the IMF for the year, implying trade intensity of the world GDP has fallen. While it is legitimate to argue that India has also been caught in this storm, there are other indicators where India is performing very badly. For instance, while world real GDP growth improved from 3.2% in 2009-11 to 3.4% in 2012-14, India’s real growth of exports came down from 11.1% to 4.1%. “This suggests the decline isn’t merely cyclical; there are structural elements at play as well,” Crisil said.
Falling competitiveness is one of the structural factors restricting export growth and for key export items such as gems and jewellery, textiles and iron and steel products, the comparative advantage has come down in the decade through 2014, it added. Non-tariff barriers such as high transaction costs and infrastructure deficit, too, create a hindrance as India continues to lag most Asian peers on these parameters. The cost to export a container from India is as high as $1,332, much higher than that of $823 in China and more than double of $525 in Malaysia.
Even various tariffs imposed by the country are very high, compared with some of the developed economies. For instance, one of the reasons India was not invited to join the TPP between the US and 11 other nations, which account for roughly a fourth of the global GDP, is that India has one of the highest average tariffs in the world — 13.5% against 3.4% in the US. And the ambition of the TPP parties is to reduce tariffs to zero. India also needs to invest quickly in skilling its large manpower and developing infrastructure to be able to attract foreign investment and become a world-class exporting hub, it added.
SOURCE: The Financial Express
India and the European Union will resume talks on a free-trade agreement in January after a lengthy break, raising hopes of a speedy completion to the long-drawn process. Talks on the India-EU Broadbased Investment and Trade Agreement have stalled amid the prolonged downturn in Europe and its focus on concluding the Transatlantic Trade and Investment Partnership agreement with the US. Indian then deferred talks that were set to resume in August after the EU banned 700 generic drugs that were tested at Hyderabad-based GVK Biosciences. The government said it was "disappointed and concerned by the action." EU's negotiators are now expected to be in India next month. "They will come in January. We are waiting for them to share the dates," said a senior commerce department official.
The development comes a month after the 28-nation bloc offered to discuss the ban as a separate legal matter so that the free trade agreement talks can be resumed. "We would be picking up the threads after a long hiatus. We need to see if the positions have changed. So, we will be negotiating anew," the official added. India and the EU have missed at least four deadlines to clinch a free-trade accord, even after 15 rounds of talks. The two sides have been negotiating the proposed free trade agreement since 2007 but differences over the lack of access for Indian professionals to EU's labour market and high taxes imposed by New Delhi on liquor and car imports from Europe have thwarted efforts to reach an accord that is expected to boost trade. India's exports to the EU amounted to $49.3 billion in FY15, while imports stood at $49.2 billion.
In the April-August period, these were $18.5 billion and $18.4 billion, respectively. The EU is destination to almost 18% of India's exports with products such as apparel, textiles, information technology, gems and jewellery, and pharmaceuticals leading the pack. On the other hand, the EU is one of the largest sources of overseas investment in India. With the free-trade pact talks getting a new lease of life, value-added exports such as those of textiles and garments could get a boost. The EU is a large market, which is willing to pay the price for value-added goods, experts said.
SOURCE: The Economic Times
With less than a fortnight left for the WTO ministerial in Nairobi, India has stated its expectations from the crucial meeting. Commerce secretary Rita Teaotia has said that even though the contours of what is there on the negotiating table of the WTO, there are four issues on which India wants to emphasise- continuation of the Doha Development Agenda, special safeguard mechanism, removal of targeted subsidies and reduction in trade distorting subsidies. "The Doha round must not be abandoned at Nairobi (even though) there have been rough patches," she said at a FICCI event here. She added that in the past, developing countries were dragged into the Doha round but the situation is different now because the developed world doesn't want to pursue the Doha development Agenda while developing nations want to. "Consensus is developing that the Doha round has to continue...More than a hundred countries want it to continue," she said.
Referring to the developed countries' attempts to introduce issues related to labour, environment and global value chains, among others, she said: "New uncertainties are getting into global trade". She added that such new issues related to investment, climate change, labour and global value chains are entering the WTO mandate without the existing issues having been sorted. On the issue of India ratifying the trade facilitation agreement, the secretary added that India is drawing up a roadmap for this as there are many stakeholders involved. India had, last year, accepted to be party to the agreement which seeks to simplify customs procedures for seamless international trade across borders.
SOURCE: The Economic Times
Indonesia is expecting foreign direct investment worth $40-50 billion over the next five years from India. "Out of the total $150 billion inward FDI aimed by the Indonesia Investment Coordinating Board, BKPM, we hope one-third of the amount could come from the Indian investors," Indonesian Ambassador to India R W Indrakesuma said here today after an interactive session with the members of Indian Chamber of Commerce (ICC). The body is confident to attract large amount of FDI to Indonesia and Indian entrepreneurs are looking for opportunities in the country, BKPM Director Natalia R Kentijana said. For inbound FDI, Indonesia is focusing on areas such as infrastructure, maritime, energy and manufacturing. "Currently, India ranks 22 in FDI ranking to Indonesia but the numbers do not reflect the true picture as lot of Indian investment had been routed through Singapore," ICC member and Honorary Consul General M K Saharia said. With greater cooperation, direct investment, which is currently not even $1 billion will jump sharply, he said. The three Indian majors, Adani, Essar and Tatas have signed a MoU for investment in Indonesia that could be around $4-5 billion over a period of time. Indrakesuma said initial dialogue for Indonesia-India comprehensive economic cooperation agreement has begun but it will take some years to fructify.
SOURCE: The Economic Times
The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 39.83 per barrel (bbl) on 03.12.2015. This was lower than the price of US$ 40.66 per bbl on previous publishing day of 02.12.2015.
In rupee terms, the price of Indian Basket decreased to Rs 2658.60 per bbl on 03.12.2015 as compared to Rs 2708.49 per bbl on 02.12.2015. Rupee closed weaker at Rs 66.75 per US$ on 03.12.2015 as against Rs 66.62 per US$ on 02.12.2015. The table below gives details in this regard:
|
Particulars |
Unit |
Price on December 03, 2015 (Previous trading day i.e. 02.12.2015) |
Pricing Fortnight for 01.12.2015 (Nov 11 to Nov 26, 2015) |
|
Crude Oil (Indian Basket) |
($/bbl) |
39.83 (40.66) |
41.17 |
|
(Rs/bbl |
2658.60 (2708.49) |
2725.87 |
|
|
Exchange Rate |
(Rs/$) |
66.75 (66.62) |
66.21 |
SOURCE: PIB
Malaysia stands to reap up to US$200bil in economic gains over nine years by joining the Trans-Pacific Partnership Agreement (TPPA), aided by faster investment growth and greater market access. A PricewaterhouseCoopers (PwC) study revealed that export-oriented industries, namely, electrical and electronics (E&E), textiles and automotive manufacturers would gain the most. The TPPA is a free trade agreement initiative involving 12 countries - Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, Vietnam and Japan. The TPPA presents “net economic benefits to Malaysia,” said PwC in a report released yesterday, but warned that there would be adjustment costs to firms from increased competition and cross-sectoral TPPA obligations. “Malaysia’s participation in the TPPA is projected to deliver net economic gains, with gross domestic product (GDP) to increase by US$107bil to US$211bil over 2018-2027,” PwC said in its report entitled Study on Potential Economic Impact of TPPA on the Malaysian Economy and Selected Key Economic Sectors.
On the contrary, PwC said Malaysia’s non-participation in the TPPA was projected to result in “a decline in GDP by US$9bil-US$16bil over 2018-2027, resulting in a slight moderation in GDP growth by 0.03 percentage points in 2027. Investment is also projected to decline by a cumulative of US$7bil-US$13bil over the 10-year period”. Taking consideration of the potential GDP gains foregone from the TPPA participation of US$107bil-US$211bil, the total opportunity cost of not participating in the TPPA, in GDP terms, would amount to US$116bil to US$227bil over 2018-2027. PwC said non-participation in the TPPA would limit the market access of Malaysian firms to the TPPA countries, particularly in terms of non-tariff measures. This could potentially reduce the competitiveness of several economic sectors, such as E&E and textiles, relative to the other TPPA countries such as Vietnam.
In addition, the extensive safeguards secured from participating in negotiations to formulate the TPPA, particularly for bumiputra businesses, small-medium enterprises and state-owned enterprises, would be foregone in the event of Malaysia’s non-participation. These safeguards and carve-outs may not be achieved in the event Malaysia forgoes the opportunity now to be among the founding members and only attempts to secure its desired safeguards in the future. PwC also highlighted that the amount of investments was projected to increase by an additional US$136bil-US$239bil over 2018-2027 following Malaysia’s participation in the TPPA. “The textile sector will register the largest increase in investment growth in 2027, followed by the construction and distributive trade sectors,” it said.
In contrast, Malaysia’s non-participation in the TPPA could result in a diversion of foreign investment away from Malaysia. Should Malaysia not joint the TPPA, the amount of investments is projected to decline by US$7bil-US$13bil over 2018-2027. It said post-TPPA, the rise in import growth would outpace the increase in export growth. Export growth is projected to rise by 0.54 to 0.90 percentage points in 2027, attributable mainly to higher manufacturing exports. In 2027, the trade balance is projected to remain in surplus following Malaysia’s participation in the TPPA. “The size of the trade surplus will be smaller at US$29.7bil to US$35.1bil, compared to the baseline scenario of US$41.9bil where the TPPA does not exist. The 2027 surplus position post-TPPA participation will remain larger than the 2014 surplus position of US$26.1bil,” it said.
Meanwhile, the Institute of Strategic and International Studies (ISIS) said Malaysia’s participation in the TPPA was in its national interest and is projected to deliver net economic gains to the country. “Non-participation places the country’s policy of close and friendly relations with countries at risk,” according to ISIS’ national interest analysis (NIA) of Malaysia’s participation in the TPPA. ISIS said the Government had secured numerous exclusions and exemptions to safeguard the nation’s and stakeholders’ interests. “This has been possible because Malaysia was an early participant in TPP negotiations. These might not be uniformly viewed as favourable or sufficient, but nonetheless, they are more favourable to Malaysia than originally expected. This NIA concludes that the TPP should still set into motion significant structural changes that will result in net positive outcomes,” it said.
Concerns that the participation of Malaysia in the TPPA would result in the loss of the country’s sovereignty and equality were not without basis but might have been over-amplified, ISIS said. “Malaysia’s security is built on a foreign policy of close and friendly relations with countries. Given the slow progress at the multilateral level and the threat of rising protectionism, Malaysia needs multiple and diversified institutional arrangements with its main economic partners. Currently, Malaysia does not have any with Trans-Pacific countries except Chile,” it said. “TPPA participation is consistent with Malaysia’s New Economic Model and ambitions to become a high income economy. Malaysia will have fewer tariff restrictions in four new markets – the United States (90%), Canada (95%), Mexico (77%) and Peru (81% ) of all tariff lines,” ISIS said, adding that Malaysian exporters would gain a competitive advantage in market access compared with competitors who are not party to the TPPA.
SOURCE: The Star
The local textile industry risks total collapse if urgent steps are not taken by the government, according to the General Secretary of the Textile, Garment and Leather Workers Union, Abraham Koomson. “The industry is suffering and we don’t see any future for it…really the industry is sick and it is not out of the woods at all,” Mr. Koomson told Morning Starr host Nii Arday Clegg Thursday. According to Mr. Koomson, who has worked in the textile industry for over forty years, government must stop making unfulfilled promises and back their words with action to revive the textile industry. He added that government must also stop importing foreign cheap textiles and allow local textile manufacturers to produce quality textile for students. “We are fed up with political talks, even in parliament they went to buy furniture from China and I am told the chairs have started collapsing what kind of mindset is this. “With School uniforms; in 2009 government promised to source the materials from Ghana so that local dress makers can have job to do but what are seeing now, they are importing already sewn uniforms from China”. “The industry is really suffering, look at Juapong [textiles] for about nine, ten months they have not been paid. So if we are going to rely on buy and sell, then this country would be a failed state...so me I am afraid for this country and even Africa”. “The politicians must talk and act because the talking is too much and anybody who talk too much achieves nothing,” Mr. Koomson said.
SOURCE: The Star RFM Online
Vietnam, the Southeast Asian nation by taking part in the TPP has established a proactive role in joining other countries in setting up new global standards and rules, said Japanese Minister of State for Economic and Fiscal Policy Akira Amari during a press conference at the Japanese Ministry of Foreign Affairs. Amari highly values Vietnam’s active engagement in the TPP, an economic structure with high standards and ambitious goals. Vietnam’s attachment of its economic future to the trade pact is a sound decision. As the TPP will bring about opportunities for its textile and garment industry to gain more access to the US market and step up cooperation with countries with advanced technologies like Japan. The minister noted that the TPP will create an equal, free economic structure in the Asia-Pacific in the 21 st century. With 12 member nations, the deal covers a huge region with a population of 800 million. It accounts for 40 percent of the world’s gross domestic product. The 12 member TPP nations are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US and Vietnam. He believes that the agreement will optimize the member nations’ advantages and narrow the industrial development gap. As the TPP doesn’t simply remove tariff lines, but includes regulations in many other spheres such as environment, labour, State-run enterprises, e-transactions, intellectual property and liberation of investments.
SOURCE: Yarns&Fibers
In order to boost its textile and manufacturers scaling new heights in recent years, Taiwan is keen to tap new business opportunities in South Asia, a top executive said. Talking to Deccan Herald on the sidelines of the two-day Taiwan textile fair which kick-started in Bengaluru on Tuesday at Hotel Oberoi, Taiwan Textile Federation (TTF) Overseas Market Development Specialist Sean Tsai said, “This year we launch the show in Bangladesh, which is the world’s second-largest apparel exporting market. Our focus is to tap new business opportunities in India, Bangladesh, and Sri Lanka where there is huge demand for innovative knit and woven textile products (yarns and fabrics) like synthetic, fancy, functional, recycled, and eco-friendly, as well as garment accessories.
Potential in India
Tsai further added that for them, China is the biggest market for export of functional textiles and we see similar potential in India. “Therefore, we keep bringing more companies from Taiwan to India to measure the potential and increase their export market. We aim to export around $500 million worth of functional textiles in the next five years to India. Currently, the bilateral trade between India and Taiwan has grown from $1.19 billion in 2001 to $6 billion in 2014,” Tsai said. Tsai said, “For over 10 years, the Taiwan Textile Federation (TTF) have been organising this buyer-seller meet in India and have been quite successful in connecting and supplying our innovative and trendy textiles to the leading fashion garment exporters’ as well domestic brands in India.”
Taiwan textiles are world renowned for their innovative and high quality textile products and are sourced by leading global brands for sports and active wear, outdoor wear, functional wear, formal wear, suiting and shirting by leading global brands such as such as DKNY, S. Oliver, C&A, Victoria’s Secret, GAP, Nike, Adidas, Calvin Klein, H&M, Marks & Spencer, TESCO UK, Tommy Hilfiger, etc. The textile produced by Taiwanese companies adds value to the brand image with such unique properties like coolmax, heat transfer, water resistant, breathable, fire-proof, etc., with its advanced R&D and nano technology. Some of the leading exporters and brands in India that are already sourcing from Taiwan include Shahi Exports, Gokaldas Images, Madura Garments, Wildkraft, Moxi Sports, and Proline India.
SOURCE: The Deccan Herald
The volume of textile production has reduced by 16.3% forming 388.9million drams (more than 802.5 thousand dollars) in January October this year, as compared to the same period in 2014. Instead, clothing industry indexes have improved by 14.2% forming 7 billion 444.1 million AMD. As “Armenpress” was informed by the National Statistical Service of the Republic of Armenia 7tons of cotton fabrics were produced during the first 10 months, 2015 (the index of the same period, last year reduced by 35.2%), 37.3 tons of carpets, tapestries (growth 4.8%), 5 million 691.2 thousand hosiery (growth 46.4%) and 3 million 125.1 pieces of knitwear: the index increased by 72.2%.
SOURCE: The Armen Press
The decision of Egypt's state-owned airline Egypt Air to suspend the shipping of commercial cargo on passenger flights bound for New York and Canada has triggered a crisis in the export of Egypt's spinning, weaving and garments sector, according to media reports. Egypt Air said that the decision to ban freight on passenger flights is based on recommendations by the US Transportation Security Administration y delegation, which visited Egypt last week, in the aftermath of the Russian jet crash over Sinai on October 31. The incident has led to tighter security at Cairo's international airport. Russia claims it was a "terrorist act" that brought down the plane. An Egypt-led international investigation is yet to announce its findings. According to a theory, the plane was blown up by a bomb in its cargo hold. As if the Egypt Air ban on carrying cargo on passenger flights wasn't enough, carriers flying cargo to the US from Egypt must now be quarantined for 48 hours upon arrival and before transits on domestic flights from local airports, according to the new rules.
Qualified Industrial Zones (QIZ) exporters have been the hardest hit by the decision. The QIZ agreement which Egypt signed with the US and Israel in December 2004, gives Egyptian products access to American markets without customs or quotas on condition that the Israeli component represents no less than 10.5 per cent of the finished product. The textile, garments and furniture top the list of Egypt's exports to the US. Between January and August 2015, Egyptian exports to the US totalled $974 million, of which $446 million came from export of textiles and cotton products, according to the Industry and Foreign Trade Ministry. The value of Egyptian exports to the US through the QIZ agreement was about $824.2 million in 2014, of which $816.7 million from the spinning, weaving and garments sector.
Mohamed Qassem, chairman of Egypt's the Readymade Garment Export Council, said that about 10 per cent of total monthly exports used to be delivered by air freight, the majority of them by passenger flights. Exporters are now apprehensive that they will now have to rely on the few shipping companies which are expected to raise prices that will increase the exporters' production cost and slash profits.
SOURCE: Fibre2fashion
