INTERNATIONAL
Textile Raw Material Price 2015-12-06
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1036.49 |
USD/Ton |
0% |
12/6/2015 |
|
VSF |
2183.72 |
USD/Ton |
-0.14% |
12/6/2015 |
|
ASF |
2023.84 |
USD/Ton |
0% |
12/6/2015 |
|
Polyester POY |
988.91 |
USD/Ton |
-0.55% |
12/6/2015 |
|
Nylon FDY |
2394.29 |
USD/Ton |
0% |
12/6/2015 |
|
40D Spandex |
5100.55 |
USD/Ton |
0% |
12/6/2015 |
|
Nylon DTY |
1040.39 |
USD/Ton |
-0.15% |
12/6/2015 |
|
Viscose Long Filament |
2675.06 |
USD/Ton |
0% |
12/6/2015 |
|
Polyester DTY |
5814.93 |
USD/Ton |
0% |
12/6/2015 |
|
Nylon POY |
1240.04 |
USD/Ton |
0% |
12/6/2015 |
|
Acrylic Top 3D |
2222.72 |
USD/Ton |
0% |
12/6/2015 |
|
Polyester FDY |
2199.32 |
USD/Ton |
0% |
12/6/2015 |
|
30S Spun Rayon Yarn |
2815.44 |
USD/Ton |
-0.28% |
12/6/2015 |
|
32S Polyester Yarn |
1637.79 |
USD/Ton |
0% |
12/6/2015 |
|
45S T/C Yarn |
2636.06 |
USD/Ton |
0% |
12/6/2015 |
|
45S Polyester Yarn |
1793.77 |
USD/Ton |
-0.86% |
12/6/2015 |
|
T/C Yarn 65/35 32S |
2230.51 |
USD/Ton |
-0.69% |
12/6/2015 |
|
40S Rayon Yarn |
2994.82 |
USD/Ton |
0% |
12/6/2015 |
|
T/R Yarn 65/35 32S |
2526.88 |
USD/Ton |
-1.82% |
12/6/2015 |
|
10S Denim Fabric |
1.09 |
USD/Meter |
0% |
12/6/2015 |
|
32S Twill Fabric |
0.92 |
USD/Meter |
0% |
12/6/2015 |
|
40S Combed Poplin |
1.00 |
USD/Meter |
0% |
12/6/2015 |
|
30S Rayon Fabric |
0.74 |
USD/Meter |
0% |
12/6/2015 |
|
45S T/C Fabric |
0.75 |
USD/Meter |
0% |
12/6/2015 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.15598 USD dtd. 06/12/2015)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
India is not likely to be impacted significantly from the Trans-Pacific Partnership (TPP), a mega free trade deal between the US and other 11 nations, a report has said. Government think tank Centre for WTO Studies has analysed this mega trade deal with reference to India. It has, however, said that the mega trade deal could have a bearing on India's textiles and clothing businesses. "We may not be impacted that much. We may loose a bit on textiles and clothing," Head of Centre for WTO Studies Abhijit Das said. Vietnam, which is part of this trade pact, is a competitor of India in textiles sector in the American market.
On the thought of few industry leaders that India should join this agreement, Das said: "Joining TPP would have an impact on access to affordable medicines...overall the TPP template is not in India's interest". Chandni Raina, professor at the Centre for WTO Studies, too said that access to generic medicines would be severely impacted by joining this agreement. She said it would lead to delay in the entry of generic medicines because "when a generic applicant applies, his application would be set aside for unreasonable period of time". Former FICCI President R V Kanoria said that India should have a calibrated approach to be part of any plurilateral trading blocs. "We should dovetail our internal reform programmes in such a manner so as to become competitive and take advantage of such pacts," he said.
As many as 12 countries including the US, Australia and Japan had reached the final agreement on TPP, which aims to become the world's largest free-trade zone linking 40 per cent of the global economy. TPP is billed as the largest regional trade pact. India, too, is negotiating a mega trade deal - Regional Comprehensive Economic Partnership (RCEP).
SOURCE: The Economic Times
Aditya Birla Group will scale up and further expand LIVA Accredited Partners Forum (LAPF) -- an initiative to improve the textile value chain -- by reaching out to more players from rural hubs and small towns across the country, a top company official said. "This is an attempt to bring all textile stakeholders on a single platform and promote innovation and quality, and make India the world's leading cloth manufacturing hub in line with the Make in India strategy," President Consumer Insights and Brand Development of the Group, Prakash Nedungadi said. "India has the potential and can compete with any country including China," he said at a Stakeholders' Conclave. This initiative is not just limited to cities, but will also include small towns and rural players, he added. The conclave, involving over 200 leading textile players mainly from the southern states, was held as part of its efforts to support design development, technical skills, marketing and buyer link support, under the LAPF initiative. "This is a unique unity for quality. We have 320 members on board and the forum plays a key role in improving the value chain through critical support," Senior Vice President, Sales and Marketing (India, SAARC, Far East) of the Group, Ashwin J Laddha, said.
Birla Cellulose, the pulp and fibre manufacturing division of Grasim, a leading player in Viscose Staple Fibre industry with 93 per cent share market share, has tied up with Mumbai-based Netcarrots to implement a customer relationship marketing programme for the stakeholders, he said. LAPF members include spinners, weavers, knitters and fabricators, with major participation from textile hubs such as Tirupur, Erode, Ludhiana, New Delhi, Kolkatta, Surat, Bhiwandi, the company said in a statement. The LAPF 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. The company has also tied up with Bombay Textile Research Association to undertake quality improvement programmes and stringent audits for the partners, the statement added.
SOURCE: The Economic Times
MP Butta Renuka on Sunday said that she was making efforts to establish a textile park at Yemmiganur in Kurnool district. Participating in a pooja in Karthika Vana Bhojanam at Venkanna bavi in Kallur mandal organised by Kurnool District Kurni Welfare Association, association State president and BJP leader N. Srinivasulu said people of Kurni community must turn literate. The MP, retired tahsildar C.B. Ajay Kumar and others presented prizes to men, women and children who won in cultural and sports competitions.
SOURCE: The Hindu
Shi Xianping alongside seeking new buyers, Chinese dyestuff producers who are participating at the Asian Interdye 2015 trade show being held in Ahmedabad, India, are also looking at investing in setting up production facilities in Gujarat. Shi Xianping, president of China DyeStuff Industry Association exclusively told Fibre2Fashion that the members of the trade body were also seeking investment opportunities to set up production facilities in Gujarat, alongside promoting products to Indian buyers at the show. On the first day of the trade show, the members of the association met a senior Gujarat government official, Dr Chandan Chatterjee, who explained the investment policies of the Gujarat government and also the Government of India. Xianping was of the view that the policies were very good, which included tax breaks, power subsidies, etc. He however was not clear whether these policies were meant only for Indian investors or foreign investors also. But, he shared his opinion by saying that if these incentives were extended to them too; India would prove to be an attractive and favourable investment destination for setting up plants for the Chinese dyestuff manufacturers. "Additionally, India is currently the fastest growing economy in the world, which indicates a bright future for the country and also gives investors a positive outlook towards investing in India," he informed.
Giving reasons for organising the show in India, Xianping said, "We want to promote our products in India, since India is the second biggest producer of textiles and also dyestuffs in the world. However, while India is stronger in production of Reactive dyes, China is strong in Disperse and other dye products. So, while China exports Disperse dyes to India, it is also a big importer of Reactive dyes from India." According to the president of the trade body, just one day in to the show, almost all exhibitors have lauded the way the trade show has been organised and who also said that they met many existing and new customers and are happy with quality and numbers of buyers who visited their stalls. In order to clear the doubts raised by Xianging with regards to the investment policy, Fibre2Fashion also spoke to Dr Chandan Chatterjee, who said, "I would like to assure the president of the association that the investment policies of Gujarat state as well as the Indian government are applicable to Indian as well as foreign investors under FDI policy of the Government of India as per Reserve Bank of India guidelines or they can form a company in Gujarat as per the Company's Act while applying for the incentives or for getting space in Industrial Parks, etc. In order to provide more assurance and confidence to the Chinese dyestuff producers, he cited the MoU signed recently in May 2015 between the Gujarat government and the China Small and Medium Enterprise Investment Ltd (CSMEI) to set up a Textile Park near Sanand, Gujarat. (AR)
SOURCE: Fibre2fashion
The week gone by had some good tidings for the economy. At 7.4 per cent for the quarter ended September, GDP growth bettered the first-quarter growth of 7 per cent, with manufacturing activity showing a sharp uptick. The RBI, too, in its monetary policy announcement, did not mark down its earlier growth projection of 7.4 per cent for 2015-16. Does this portend better times for the economy? That could be the case, going by the OECD’s Composite Lead Indicators (CLI). The CLI moved above 100 — indicating an expansion — in August. The index held above 100 in September, too, implying that the trend can sustain. But, at the same time, the Purchasing Managers Index (PMI) of manufacturing companies for November 2015 touched a two-year low of 50.3 and the PMI of service companies, too, headed lower, indicating that business sentiment is not yet upbeat.
Cues from OECD
To find out what’s in store for the economy, the OECD Composite Leading Indicators (CLI) are a good measure to turn to. Using published GDP numbers of a country as the reference, the CLI is designed to signal turning points in economic activity at least six months in advance. With its trend line at 100, the CLI numbers trace an economy through the four stages of expansion, slowdown, recession and recovery. A CLI above 100 indicates ‘expansion’ and a reading below 100 but rising points to a ‘recovery’. As early as December 2013, at 98, the CLI indicated a ‘tentative positive turning point’ for India. This was even as on-ground economic indicators such as the Index of Industrial Production hovered over negative territory and GDP continued clocking sub-5 per cent growth. Both industrial and GDP growth have picked up since then. Besides, the CLI readings beginning December 2013 have also moved up steadily to 100.1 as of September 2015 (latest available number). This indicates that the economy has already moved from ‘recovery’ mode into ‘expansion’ mode. Given that CLI indicates economic activity at least six months in advance, this shows that growth is here to stay.
Pain points in PMI
Almost at the same time as the turnaround in CLI in November 2013, the PMI of manufacturing companies breached the 50 mark after showing a contraction in previous months. It has remained above 50 since then with the December 2014 PMI touching a two-year high of 54.5. Even today, though the PMI has touched a low of 50.3, trends in some sub-components such as steady new order flows agree with the CLI on bettering prospects. What’s disrupting the uptrend are some pain points.
Demand not broad-based
One, while there has been a recovery in demand in the economy, it has not been broad-based. PMI reports of the last one year show that while demand for consumer goods has been picking up well, demand for intermediary and capital goods has remained lacklustre overall, though they did show some spurts of growth now and then. Two, given that the growth has not been all-round, companies have remained uncertain about the sustainability of the upturn. Hence, both the manufacturing and service sectors have shown reluctance in hiring. A stagnant job market, in turn, has not helped boost demand. And, three, the PMI reports show complaints about delayed payments from clients. This indicates that companies have perhaps been struggling with stretched working capital cycles. Banks being reluctant to pass on benefits of lower lending rates to clients could have played a role in this. These factors also explain why capital goods companies have not been able to show sustainable growth.
SOURCE: The Hindu Business Line
The Southern India Mills' Association (SIMA) and Powerloom Development & Export Promotion Council (PDEXCIL) have decided to join hands to study the fabric market on a continuous basis and give feedback to the spinning and powerloom sectors and also to the Government SIMA said in a press release. Both the organizations jointly convened an interaction meet in Coimbatore on December 4 today to discuss the weaving yarn market and fabric market conditions and also devise a methodology to study the market behaviour, particularly in the domestic market. SIMA and PDEXCIL members expressed their concerns about the unhealthy competition created both in the domestic and export markets. They hoped that the recently announced MEIS and IES export benefits for fabric and other finished goods could improve the market condition in the coming months. They also felt that all the textile manufacturers in Tamil Nadu should focus making future investments only in wet processing and further value addition to sustain the viability of 47 per cent of the spinning capacity and 22 per cent of the powerloom capacity in the country. They decided to appeal to both the Central and State governments to give necessary assistance to create required processing capacity within Tamil Nadu, the release said. The SIMA-PDEXCIL meeting came in the backdrop of the predominantly cotton based spinning and powerloom sectors in the country facing severe recession during the last 18 months due to the glut in the global market and higher duties imposed on Indian textile products when compared to other textile manufacturing countries. The meeting was also prompted by the mass closure of dyeing units in Erode and other parts of Tamil Nadu that has now forced weavers in Tamil Nadu to process the fabric in other parts of the country resulting in high transport cost and increased lead time thus making them uncompetitive.
SOURCE: Fibre2fashion
The rupee may look a lot weaker than it has in some time, but when you look at the real exchange—this also takes into account inflation in competing countries—it has actually appreciated. The relationship between global GDP and trade growth has broken down, and it appears quite irretrievable—prior to 2012, barring 2009, global trade growth has always been higher than that of global GDP. Apart from the slowing Chinese export machine, the import-intensity of China’s exports has also fallen dramatically … all of these, and more, are explanations offered for why India’s exports have contracted for the last 11 months in a row. Each explanation is correct, but they offer only a partial explanation for what is happening.
Certainly, the slowdown in Asian growth has hit India’s exports, but the biggest problem, as a recent Crisil report points out, is that big Indian exports appear to be losing their competitiveness as well—so, even as global trade picks up, these items are not growing. Crisil uses the standard Revealed Comparative Advantage (RCA) method to identify the problem areas—RCA measures the share of Indian exports in a particular sector to India’s overall export share—and it finds a fall in competitiveness of gems and jewelery, organic chemicals, textiles and clothing.
Add to this the problem created by the Trans Pacific Partnership, where a fourth of India’s exports go, and it is clear the government will have to take some strong measures to counter this. In the case of the US, to which half of India’s textile exports are sold, the preferential duty access for Indian goods will go once the treaty is ratified. The reason why India cannot even aspire to be a member of the TPP is that this requires a sharp cut in import duties—India’s average import tariffs are 13.5% versus the US’s 3.4%—as also greater market access, less stringent IPR rules, and so on. Similarly, if the rupee is allowed to slide—to benefit exports—this will cause a spurt in inflation and, more important, will expose India Inc to balance-sheet problems as the value of global debt will rise in rupee terms. If the government does not take stock of the matter and make some strategic moves, India’s exports aren’t going to recover soon—that has important implications for the MSMEs, who export a lot of their production. For the near future, the days of high export growth are certainly over.
SOURCE: The Financial Express
India has the potential to grow at 9 per cent for a decade and 8 per cent in subsequent years if the country takes bold reform measures, eminent economist and Harvard University professor Lawrence Summers said. “Except India, major emerging economies seem to be losing momentum… I think if India maximises its potential, it could grow at 9 per cent for a decade, and 8 per cent a decade after that, and 7.5 per cent for a decade after that,” Summers said during a session at the HT Leadership Summit. Summers, who is president Emeritus and Charles W Eliot professor at Harvard University said he is very optimistic about the capacity of India but the country needs bolder reforms.“… 9 per cent growth, decline by 0.5 per cent to 1 per cent every decade, that is my sense about India’s potential that is not my forecast for India because India would have to reform more boldly and take a whole set of steps not just at the national level but at the level of states, and even at the level of culture if it wants to achieve that potential,” he said.
Quoting IMF, Summers said India is projected to be the fastest growing economy in the world over next 5 years. Summers’ statement assumes significance as India’s economy grew at 7.4 per cent during July-September this fiscal year, more than China’s growth rate at 6.9 per cent. Summers, who was also US Treasury Secretary, said India should not blindly follow the so called Tiger’s economies growth model and it should give more stress in developing its services sector. “I think India can do lot to promote manufacturing. But I don’t think it is reasonable to think India should follow South Korea’s export-led growth model. “India has different potential and it should concentrate more on services sector,” he said.
Summers also stressed on the need of speedier and predictable decision-making in India. “Speedy decision-making has never been an Indian hallmark. There is still too much of sense in India, that being well-connected is particularly very important in the country. If this can be worked on, nothing like it,” Summers said. Asked whether the US Fed should raise interest rates, he said, “It is very clear. Given the current context, there isn’t any other alternative to raising interest rates,” he said.
SOURCE: The Financial Express
With little more than two weeks left for the Winter Session of Parliament, the government is finalising a model Goods and Services Tax law that can be enacted by the Centre and each State with a few regional variations once the Constitution Amendment Bill is passed. “Finishing touches to the draft are being given…the final meeting of officials involved in drafting the law took place a couple of days back,” a senior Finance Ministry official said. The draft Bill will also be discussed by the Empowered Committee of State Finance Ministers in its next meeting, the date of which is yet to be finalised. Under the draft proposal, the existing tax exemptions, which are a sizeable number, will be reviewed and also trimmed, an official associated with the development said. Each State can notify its list of exemptions, he told BusinessLine. Chief Economic Adviser Arvind Subramanian in his report on Possible Tax rates under GST has suggested that exemptions need to be reduced under the proposed tax regime. “Indeed, revenue neutrality for the Centre can only be achieved if base for Centre is similar to that of the States (which have fewer exemptions – 90 products versus 300 for Centre). If the policy objectives have to be met, instruments other than tax exemptions such as direct transfer could be deployed,” he stated.
Political divide
While a political divide still remains on whether GST should be expanded to include alcohol and petroleum products, a consensus is building on fixing a deadline for bringing petroleum products under the purview and also have some levy on alcohol. The two products together would contribute almost 40-50 per cent to GST revenues. The Centre is keen on implementing the GST from April 1, 2016 with hopes that it would boost economic growth by at least 1.4-1.8 percentage points by 2017. “There is a little more than two weeks left of the Winter Session and consultations are still on with the Opposition and States. So either extending the current session or calling a special session can not be ruled out to get the Constitution Amendment Bill for the tax passed in the worst case scenario,” said two sources close to the development. Meanwhile, the Business Advisory Committee of the Rajya Sabha has also allocated four hours for The Constitution (122{+n}{+d} Amendment) Bill 2014 as passed by Lok Sabha and as reported by Select Committee of Rajya Sabha (GST Bill) this week.
IT system
Besides, building a political consensus another challenge before the Centre is to put in place the backend (Information Technology) system for the new tax regime. In case, the system is not fully operational before April 1, an alternative under active consideration is that the tax could be notified on the set date and systems will be put in place over the next few months. On the political front, the Centre, backed with Subramanian panel report, is also expected to re-start negotiations with the Congress, said sources. A number of States that BusinessLine contacted said a final decision on rates would be taken by the Empowered Committee of State Finance Ministers and the proposed GST Council. However, they would support proposals to abolish the proposed one per cent manufacturing tax. “In national interest, we will support any consensus reached by the national parties on the model of GST. But there has to be discussion on the GST rates with States,” said Saurabh Patel, Gujarat’s Finance Minister, adding that as long as the Centre would compensate for loss of revenue, States would not object to the scrapping of the additional levy of one per cent. Officials from States including Andhra Pradesh, Bihar and West Bengal also echoed similar views and said they were not in favour of including the tax rates in the Constitution Amendment Bill.
SOURCE: The Hindu Business Line
Four hours have been set aside by the Rajya Sabha next week for the debate on and passage of the Goods and Services Tax (GST) constitution amendment Bill in the week beginning December 7. But the real action on the Bill is likely to take place in the week beginning December 14, with the Congress and the government all set to spend the coming week negotiating on the Bill. The government has also agreed to the Congress demand for a discussion on price rise in both the Houses before the GST is taken up in the Rajya Sabha. There have not been formal talks between the Congress and the government after the meeting of Prime Minister Narendra Modi and Congress President Sonia Gandhi on November 25. However, senior ministers and Congress leaders have exchanged notes on the possible compromise formula. Now, both sides await the return of the Congress president on Sunday evening. Finance Minister Arun Jaitley has a wedding in the family next week. The informal discussions between the Congress and government suggest that there is hope for passage of the GST Constitution Amendment Bill in the ongoing winter session. The Congress is inflexible on doing away with the one per cent tax on inter-state commerce in goods. On Friday, a panel headed by Chief Economic Adviser Arvind Subramanian recommended as much in its report submitted to Jaitley, which makes it easier for the government to accept the Congress demand.
A senior Congress leader said the party was amenable to accepting the government's argument that an 18 per cent cap on the GST rate not be included in the Constitution Amendment Bill. However, the Congress has insisted this cap be included in the subsequent GST Bill itself. The Congress argues that the cap in the GST Bill can be amended, if required, by a simple majority. Similarly, a compromise now looks possible on the issue of the disputes resolution authority. The Congress is of the view that the GST Council can refer a dispute to a redressal authority but it wants the government to come up with specifics of such an authority and who all could be its members. Apart from the Rajya Sabha Business Advisory Committee allocating four hours to a debate on the GST, it has also allotted two hours for the Real Estate Bill. Select committees of the House have already submitted their reports on these two Bills.
SOURCE: The Business Standard
Committee headed by the Chief Economic Adviser Dr. Arvind Subramanian on Possible Tax rates under GST submitted its Report to the Finance Minister here today. The Committee in its concluding observations has stated that this is a historic opportunity for India to implement a game-changing tax reform. Domestically, it will help improve governance, strengthen tax institutions, facilitate “Make in India by Making One India,” and impart buoyancy to the tax base. It will also set the global standard for a value-added tax (VAT) in large federal systems in the years to come.
Following are the highlights of the Executive Summary of the Report submitted:
There is first a need to clarify terminology. The term revenue neutral rate (RNR) will refer to that single rate, which preserves revenue at desired (current) levels. In practice, there will be a structure of rates, but for the sake of analytical clarity and precision it is appropriate to think of the RNR as a single rate. It is a given single rate that gets converted into a whole rate structure, depending on policy choices about exemptions, what commodities to charge at a lower rate (if at all), and what to charge at a very high rate. The RNR should be distinguished from the “standard” rate defined as that rate in a GST regime which is applied to all goods and services whose taxation is not explicitly specified. Typically, the majority of the base (i.e., majority of goods and services) will be taxed at the standard rate, although this is not always true, and indeed it is not true for the states under the current regime.
Against this background, the Committee drew a few important conclusions.
There is a legitimate concern that policy should not be changed easily to suit short term ends. But there are enough checks and balances in the parliamentary system and enough pressures of democratic accountability to ensure that. Moreover, since tax design is profoundly political and contingent, it would be unwise to encumber the Constitution with the minutiae of policy that limits the freedom of the political process in the future: the process must retain the choice on what to include in/exclude from the GST (for example, alcohol) and what rates to levy. The credibility of the macroeconomic system as a whole is undermined by constitutionalising a tax rate or a tax exemption. Setting a tax rate or an exemptions policy in stone for all time, regardless of the circumstances that will arise in future, of the macroeconomic conditions, and of national priorities may not be credible or effective in the medium term. This is the reason India—and most credible polities around the world--do not constitutionalise the specifics of tax policy. The GST should be no different.
The nation is on the cusp of executing one of the most ambitious and remarkable tax reforms in its independent history. Implementing a new tax, encompassing both goods and services, to be implemented by the Centre, 29 States And 2 Union Territories, in a large and complex federal system, via a constitutional amendment requiring broad political consensus, affecting potentially 2-2.5 million tax entities, and marshalling the latest technology to use and improve tax implementation capability, is perhaps unprecedented in modern global tax history. The time is ripe to collectively seize this historic opportunity.
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$ 40.22 per barrel (bbl) on 04.12.2015. This was higher than the price of US$ 39.83 per bbl on previous publishing day of 03.12.2015.
In rupee terms, the price of Indian Basket increased to Rs 2687.93 per bbl on 04.12.2015 as compared to Rs 2658.60 per bbl on 03.12.2015. Rupee closed weaker at Rs 66.84 per US$ on 04.12.2015 as against Rs 66.75 per US$ on 03.12.2015. The table below gives details in this regard:
|
Particulars |
Unit |
Price on December 04, 2015 (Previous trading day i.e. 03.12.2015) |
Pricing Fortnight for 01.12.2015 (Nov 11 to Nov 26, 2015) |
|
Crude Oil (Indian Basket) |
($/bbl) |
40.22 (39.83) |
41.17 |
|
(Rs/bbl |
2687.93 (2658.60) |
2725.87 |
|
|
Exchange Rate |
(Rs/$) |
66.84 (66.75) |
66.21 |
SOURCE: PIB
A team of researchers at the CNRS research center in the French city of Lyon have developed a light-emitting textile that could absorb the pollution in our homes. With the international climate change conference underway in Paris, this discovery by a CNRS research team in Lyon could be a big step forward for the quality of our environment by removing certain pollutants from our homes and, on a global level, by removing pollution from the air and water and neutralizing odors, particularly in industry. With interest growing in eco-friendly home deco (such as the fashion for plants with depolluting properties), this new type of textile could find a place in our homes in sofas, cushions, curtains, blankets, etc. The original idea is to seamlessly integrate optical fibers, in the form of LEDs, into fabric without using an external lamp. A photocatalyst — a mixture of titanium dioxide and various solvents — is soaked into the textile and activated by light. This innovative technology is based on a chemical reaction called photocatalysis, which was discovered in the 1990s. This process enables pollutants to be neutralized using light. The construction sector already uses it in self-cleaning paint and concrete. This chemical process, which is an industrial secret, has been developed in the Brochier Technologies Research & Development lab in Villeurbanne, France. One of Brochier Technologies’ core businesses is to develop optic fiber weaving solutions for applications in the lighting, communication, security, depollution and medical spheres. The researchers are still studying the textile’s effectiveness on different types of pollutant such as fine particles. In the industrial field, the invention is currently being tested onsite as a means of removing residual pharmaceutical and pesticide molecules found in water to prevent them from being discharged into the environment.
SOURCE: The Therakyatpost
Singapore has replaced Mauritius as the top source of foreign direct investment (FDI) into India during the first half of the current fiscal. During April-September 2015, India has attracted $6.69 billion (Rs 43,096 crore) FDI from Singapore while from Mauritius, it received $3.66 billion (Rs 23,490 crore), according to data from the Department of Industrial Policy and Promotion (DIPP). Foreign investment from Singapore has more than doubled from $2.41 billion in the year-ago period. According to experts, the Double Taxation Avoidance Agreement (DTAA) with Singapore incorporates Limit-of-Benefit (LoB) clause, which has provided comfort to foreign investors based there to invest in India. "Investors are preferring Singapore to Mauritius as the LoB clause in India-Singapore treaty provides substance and certainty," said Krishan Malhotra, head of tax and an expert on FDI with corporate law firm Shardul Amarchand and Mangaldas.
FDI from Singapore during the first six months of the current financial year is also more than what it had invested in India for the whole of 2013-14 ($5.98 billion). India had attracted $6.74 billion foreign investment during 2014-15. Overall, Singapore accounts for 15 per cent of the total FDI India received during April 2000 and September 2015. However, Mauritius makes up 34 per cent of FDI during the same period. Sectors that attracted highest foreign investment during April-September 2015 includes computer software and hardware ($3.05 billion), trading ($2.30 billion), services and automobile ($1.46 billion each) and telecommunications ($659 million). Foreign investment is crucial for India, which needs about $1 trillion by March 2017 to overhaul infrastructure such as ports, airports and highways and boost growth.
SOURCE: The Economic Times
China is focusing on increasing industrial output in key economic sectors of textile, electronics and car assemblies to boost manufacturing output especially in East Africa, a top Chinese official said last week. Chinese Vice Minister of Commerce Zang Xiangchen said part of China’s efforts to improve on multilateral cooperation with key African countries will now intensify the construction of industrial parks, which have so far helped to create jobs in Ethiopia, Egypt and Zambia.“We want to encourage businesses in our cooperation,” Zang told a gathering of Chinese and African business leaders meeting ahead of the Forum on China-Africa Cooperation (FOCAC), holding in Sandton, South Africa, to plan a new series of joint investment projects. The Chinese official said the new phase of the China-Africa cooperation will now focus more closely on getting Chinese investors to provide financial support and investments across all African regions.“We will strengthen our cooperation in the manufacturing sector,” Zang told the business leaders.
In Ethiopia, Chinese investors have been focusing on the construction of an industrial park in Dukem, near Addis Ababa, to host 80 textile firms, leather and construction equipment production factories. Other industrial parks already in operation in Ethiopia have already created 40,000 jobs, dealing with the assembly of cars, trucks and other construction equipment. The Chinese official said Beijing would support other Chinese firms to invest in special economic zones by offering them the financial support to invest in Africa. “We want to use new financial facilities to promote our cooperation. We would want to make this economic cooperation with Africa more efficient,” Zang added. So far, 3,000 Chinese firms have invested US$2.7 billion in Africa, helping create 600,000 direct jobs. With additional financial support, China estimates the involvement of both Chinese and African firms, would enable the continent to become self-sufficient in the local production of its basic needs.
SOURCE: The Busiweek
The Trans-Pacific partnership, a trade agreement reached after years of arduous negotiations will prove to be beneficial for the US apparel and textiles exporters as it will open gates of new markets like Brunei, Japan, Malaysia, New Zealand, and Vietnam. The key market access benefits for the US apparel industry under TPP will be the elimination of import taxes. While Japan will eliminate import taxes on 99.2% of US textiles and apparel products exports right away, Vietnam will do away with import taxes on 98.4% of US textiles and apparel exports immediately and 100% within 4 years. Going in sync with the change, Malaysia too will remove import taxes on 79.2% of US textiles and apparel exports. New Zealand will also eliminate import taxes on 50.0% of US textiles and apparel exports immediately and 100% within 7 years. As per the figures reported, 54% of total US textiles and apparel exports went to TPP markets in 2014 worth US $ 835 Million, with exports tariffs as high as 34% in new TPP markets. An estimated US $ 48 Million in duties are levied on us exports of textiles and apparel products in TPP markets every year.
SOURCE: The CCF Group
