INTERNATIONAL
Textile Raw Material Price 2015-12-07
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1031.03 |
USD/Ton |
-0.53% |
12/7/2015 |
|
VSF |
2180.60 |
USD/Ton |
-0.14% |
12/7/2015 |
|
ASF |
1945.85 |
USD/Ton |
-3.85% |
12/7/2015 |
|
Polyester POY |
987.35 |
USD/Ton |
-0.16% |
12/7/2015 |
|
Nylon FDY |
2386.49 |
USD/Ton |
-0.33% |
12/7/2015 |
|
40D Spandex |
5100.55 |
USD/Ton |
0% |
12/7/2015 |
|
Nylon DTY |
2675.06 |
USD/Ton |
0% |
12/7/2015 |
|
Viscose Long Filament |
5813.37 |
USD/Ton |
-0.03% |
12/7/2015 |
|
Polyester DTY |
1232.24 |
USD/Ton |
-0.63% |
12/7/2015 |
|
Nylon POY |
2214.92 |
USD/Ton |
-0.35% |
12/7/2015 |
|
Acrylic Top 3D |
2133.03 |
USD/Ton |
-3.01% |
12/7/2015 |
|
Polyester FDY |
1040.39 |
USD/Ton |
0% |
12/7/2015 |
|
10S OE Cotton Yarn |
1824.97 |
USD/Ton |
0% |
12/7/2015 |
|
32S Cotton Carded Yarn |
3026.01 |
USD/Ton |
-0.26% |
12/7/2015 |
|
40S Cotton Combed Yarn |
3759.12 |
USD/Ton |
0% |
12/7/2015 |
|
30S Spun Rayon Yarn |
2807.64 |
USD/Ton |
-0.28% |
12/7/2015 |
|
32S Polyester Yarn |
1637.79 |
USD/Ton |
0% |
12/7/2015 |
|
45S T/C Yarn |
2620.46 |
USD/Ton |
-0.59% |
12/7/2015 |
|
45S Polyester Yarn |
1793.77 |
USD/Ton |
0% |
12/7/2015 |
|
T/C Yarn 65/35 32S |
2230.51 |
USD/Ton |
0% |
12/7/2015 |
|
40S Rayon Yarn |
2994.82 |
USD/Ton |
0% |
12/7/2015 |
|
T/R Yarn 65/35 32S |
2526.88 |
USD/Ton |
0% |
12/7/2015 |
|
10S Denim Fabric |
1.09 |
USD/Meter |
0% |
12/7/2015 |
|
32S Twill Fabric |
0.92 |
USD/Meter |
0% |
12/7/2015 |
|
40S Combed Poplin |
1.00 |
USD/Meter |
0% |
12/7/2015 |
|
30S Rayon Fabric |
0.74 |
USD/Meter |
0% |
12/7/2015 |
|
45S T/C Fabric |
0.75 |
USD/Meter |
0% |
12/7/2015 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.15598 USD dtd. 07/12/2015)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Crippling floods in Chennai due to torrential rains is affecting textile trade in the city as most of the factories are shut and not sure when will it get back to start regular production. Though Chennai is a big automobile manufacturing and IT hub, it also has more than 500 apparel, leather garment export houses, buying houses and big firms related to textile business. These includes good export houses in present Chennai like A. I. Enterprises, Meridian Apparels, R. K. Industries, Magnum Clothing, StanFab Apparels, Vijay Enterprises, P. S. Apparels (India) with their collective turnover of about Rs. 800 crore annually.
Estimation was made by Surat – India’s largest man-made-fabric (MMF) textile industry that around Rs. 300 crore worth of orders have been cancelled by buyers in Chennai due to heavy rainfall in the past fortnight. Also, the supply of textile products to the city has also come down to 80 per cent in the last few days. Furthermore, the payments of the traders who supply the textile products in south India on credit basis also got stuck due to floods. Surat was more dependent on the southern part of the country as there was less demand from north India. But, now there is less demand from south India as well due to heavy rains and floods. It is expected that it may take at least three months for normalcy to return in Chennai. The losses to the textile units may run into hundreds of crores of rupees.
SOURCE: Yarns&Fibers
CRISIL has analysed the performance of micro, small, and medium enterprises (MSMEs) for which it had undertaken renewal ratings on the basis of their 2013-14 (financial year April 1-March 31) financials. The analysis reveals that the average exports of these enterprises grew by 22.64 per cent to Rs 4.55 crore in 2013-14, from Rs 3.71 crore in 2012-13. However, India's merchandise exports fell for the eleventh consecutive month in October 2015, making the downward trend a cause for concern. MSMEs account for 45 per cent of the country's total exports - a significant contribution. And, while sectors such as readymade garments, drugs and pharmaceuticals, and electronics - where MSMEs have a strong presence - have registered growth, other key segments also with a strong MSME presence, such as chemicals, engineering goods, and gems and jewellery, have witnessed a contraction. The government took steps specifically for MSME exporters, such as increase in duty drawback rates and interest subsidy of three per cent (now called Interest Equalisation Scheme) in November 2015, which are aimed at encouraging growth in exports. However, as CRISIL Research recently pointed out, while the falling trade-intensity of global growth acts as an external structural constraint, declining competitiveness, infrastructural bottlenecks, and labour market rigidity are domestic structural issues that might hold India back from achieving its target of doubling its exports in the next five years.
SOURCE: The Business Standard
The United States Federal Reserve, at its next policy meeting in the middle of December, is widely expected to raise interest rates by 25 basis points. The effect of this long-anticipated tightening of US money supply on the global financial system has naturally been the subject of considerable interest. The impact on emerging markets was sharp when the last time the Fed made a change to its policies by announcing in 2013 its plan to "taper" the bond-buying programme known as quantitative easing. The impact on India was particularly drastic, with a sizeable fund flow out of the domestic markets. However, once the effects of the taper were absorbed, relative stability returned to the financial system, and in fact money began to flow into India again. The Fed may have learned some lessons about messaging from that occasion, and this time around it is expected that markets have priced in an increase of 25 basis points.
However, there is still some uncertainty about the Fed's future course of action - that is, its time-frame for further tightening after December. The consensus appears to be that further rate increases will be slow and measured. Even the International Monetary Fund has cautioned against precipitate tightening. If the Fed, during its December meeting, highlights the problems of extended low rates - the improper allocation of capital, including in asset bubbles - instead of concerns about the sustainability of the US growth recovery, then global markets might react adversely. With or without this guidance, there is a strong likelihood that the US dollar will strengthen over time; the continued easing by the European Central Bank may intensify that movement. This mechanism does support the view that, even if the December hike has been priced into Indian equities, the longer-term effects of global monetary policy on the domestic markets are still not absolutely clear.
Overconfidence about fund flows and the position of the rupee would thus be a mistake even though the end of the commodity boom has caused India's macro-economic numbers to look much better than they did in 2013. Although India is a bright spot in terms of global growth, corporate earnings have been largely flat for two years, and so it is difficult to see a renewed interest in Indian equities unless there is a move by the government towards headline-grabbing reform, a significant boost to infrastructure spending to remove production bottlenecks or a heftier demand stimulus. Part of the process of pricing in the Fed hike was that around $80 billion, by some estimates, was pulled out of emerging markets overall. India too saw foreign institutional investors selling - though the effects of that sale on the equity markets were mitigated through buying by domestic investors, and on the rupee by strong foreign direct investment flows. Foreign investors have also kept up their purchases of debt, hitting the cap on FII purchases of government securities all through 2015. Corporate bonds have also been in demand by foreign investors. The cap continued to be hit in spite of the Reserve Bank of India's September decision to increase permissible limits for FIIs in debt, on the back of which perhaps $2.5 billion flowed into India. However, India's prolonged and sharp decline in exports must be taken into account. There is no structural change that has taken place domestically since the "taper tantrum" of 2013. To genuinely insulate India from global monetary policy changes, domestic reform needs to gather pace.
SOURCE: The Business Standard
Misuse of free trade agreement (FTA) has been "alleged" in imports of gold jewellery from Thailand and apples from Afghanistan among other items, Parliament was informed. "Misuse of FTA provisions has been alleged in certain cases. These include issues in imports of flat panel television and gold jewellery from Thailand; import of cold rolled stainless steel flat products from ASEAN region; apples from Afghanistan; marble from Sri Lanka and betelnuts under SAFTA/ India-Sri Lanka FTA," Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Lok Sabha. She said that so far India has implemented 11 free trade agreements with regions include ASEAN, Singapore, Japan and South Korea and as many as 19 FTAs are under negotiations. Replying to a separate question, she said project monitoring group in Cabinet Secretariat has set up an online digital platform - e-Nivesh - through which it proses to monitor 88 different types of clearances and approvals granted by various central government ministries. Out of 88, 83 clearances have been digitised and 4 in respect of Defence Ministry and Home Affairs Ministry are not proposed to be digitized due to security reasons. "Digitisation of the remaining one clearance will be carried out in the next financial year," she said.
SOURCE: The Economic Times
Crude oil futures tumbled to their lowest in nearly seven years on Monday after OPEC failed to address a growing supply glut, while a stronger dollar made it more expensive to hold crude positions. Brent and US crude futures fell as much five per cent in belated reaction to the Organization of the Petroleum Exporting Countries' (Opec) policy meeting on Friday which ended without an agreement to lower production. For the first time in decades, Opec oil ministers dropped any reference to the group's output ceiling, highlighting disagreement among members about how to accommodate Iranian barrels once Western sanctions are lifted. "We're in a tug-of-war between a heavily shorted market and a glut of oil in the US and globally, as Saudi Arabia continues to produce oil at elevated levels to maintain market share," said Chris Jarvis at Caprock Risk Management, an energy markets consultancy in Frederick, Maryland. "Couple this with a strengthening dollar as the market anticipates a US rate hike this month, oil is heading lower with a near term target of $32 for WTI." US crude's West Texas Intermediate futures were down $1.80 at $38.17 a barrel by 10.33 am EST (1532 GMT). Its session low of $37.96 was barely above 6-1/2 year lows of $37.75 struck in August. WTI forward contracts out to 2024 dropped to below $60. Brent futures fell $1.65 to $41.35, after sliding to $41.20, their lowest since March 2009.
US diesel futures prices also hit their lowest since May 2009 while US gasoline fell to a one-month low as the selloff extended to a wider swathe of the petroleum complex. The dollar was up against a basket of currencies after jobs data published on Friday bolstered the case for a US rate in December. Opec's output of more than 30 million barrels per day (bpd) has compounded an oil glut, pushing production 0.5 million to 2 million bpd beyond demand. Opec kingpin Saudi Arabia, the world's biggest oil exporter, thinks unconventional oil producers, including US shale drillers who have fed the glut, will eventually be squeezed out of the market by high production costs and low selling prices. Saudi Aramco Chief Executive Amin Nasser told a conference in Doha he hoped to see oil prices adjust at the beginning of next year as unconventional supplies start to decline. Patrick Pouyanne, CEO of French oil company Total, said a 2016 rebound would be premature as production growth would still outstrip demand.
SOURCE: The Business Standard
Tea, coffee, biscuits and some medicines, currently exempted from excise duty, may come under the proposed goods and services tax (GST) as the finance ministry and empowered committee of state finance ministers draw up a common list of exempted items. The Centre's excise duty exemption list of around 300 items will be reduced to the states' value-added tax (VAT) list of close to 90. "We are finalising the exemption list. Excise exemptions will be pruned to around 90 items," said a government official. "The idea is to keep exemptions to a minimum." States exempt unprocessed goods and those consumed by the poor like fruit, vegetables, salt, grain and coarse fabric. The Centre provides excise exemption to processed food and pharmaceuticals and a concessional rate to fruit-based items. Common items between Centre and states include bread, eggs, milk, vegetables, cereals, books and salt, which will continue to be exempted. Items of importance in certain states could also be exempted. "Coconut oil in Kerala and sattu in Bihar are of local importance and state-level exemption could be provided," the official said. The negative list of services, exempted from the levy, will be reduced to include only essential services like health and education. "We will have a very small number of essential services out of the GST net," the official added. The negative list of services has 18 heads, which include health care, education, goods transport agency and non-air conditioned restaurants, among others.
Chief Economic Advisor Arvind Subramanian, in his recommendation on a revenue-neutral rate for the GST, has argued eliminating the exemptions on health and education will make tax policy more consistent with social objectives. He has also recommended bringing electricity and petroleum within the scope of the GST. Exemption list to be pruned for GST "The government has been pruning the excise exemption list for quite some time. From 542 items in 2011, it has come down 300 items," said Rajeev Dimri, leader of indirect tax at BMR & Associates LLP. "It will be difficult to have local items in certain states on the exemption list. The technology system has been designed in a way that there cannot be different lists for different states," pointed out Satya Poddar, senior tax advisor, EY. "Some flexibility is sought to be introduced for goods of local importance, like in West Bengal," said Saloni Roy, senior director of Deloitte in India. "There are concerns over how area-based exemptions will be treated in a GST environment," Roy added. The government is also yet to decide on a zero rate. "We are yet to take a view on whether there needs to be a zero rate," the official said. Poddar of EY argued the zero rate would continue to be limited to exports if it was part of the GST.
SOURCE: The Business Standard
Normalisation of trade and business ties between India and Pakistan seems a long way off even as External Affairs Minister Sushma Swaraj embarks on a visit to Islamabad on Tuesday for the ‘Heart of Asia’ meeting on Afghanistan. It is learnt that the Pakistan government has already made it clear to India that although it is willing to discuss strategic and political issues, trade will not be part of the discussions, officials told BusinessLine . During her visit, Swaraj is expected to have bilateral meetings with her Pakistan counterpart Sartaj Aziz and also call on Pakistan Prime Minister Nawaz Sharif.
Taking stock
The Pakistan-India Joint Business Forum (PIJBF) is expected to meet early next month to take stock of the progress made in trade in power, energy, agriculture, automobiles and pharmaceuticals among others, sources said. This is a private sector-led body notified by both the governments. The forum meets under the aegis of the Confederation of Indian Industry (CII) and the Pakistan Business Council (PBC). According to diplomatic sources, enthusiasm within the Nawaz Sharif government to grant MFN to India was “at its peak” when he came to power. However, the process of normalisation of trade has been put on the backburner thanks to the recent spate of incidents between the two countries and Pakistan’s domestic political situation. Apparently, Pakistan is waiting to see if Prime Minister Narendra Modi visits Islamabad in 2016 for the SAARC Summit. Only then it will be willing to discuss granting MFN status to India, which is also known as non-discriminatory market access (NDMA), sources said. The deadline to grant MFN status to India, which is mandatory under World Trade Organization (WTO) rules, was 2012. It is learnt that Prime Minister Sharif is “not willing” to take on “additional risks” before he heads for the general elections there in 2018, sources said.
Currently as many as 1,209 items that are in the negative list are barred from India in Pakistan, while 8,000 items are allowed. However, India insists that some of the items of its export interest are still in the negative list such as textiles, agriculture and pharmaceutical items. Last year, Pakistan was planning to reduce this list to 100 items but even that never fructified. The joint business council had last met in August 2014 and it is now expected to meet in 2016. The meeting will be chaired by Sunil Kant Munjal of Hero Corporate Services from India. The Pakistani side would be led by Syed Yawar Ali Shah, former CEO of Nestle Pakistan. So far the body has identified 10 areas of cooperation: Agriculture; automotive and engineering; chemical and petrochemicals; infrastructure; pharmaceuticals; information technology; textiles; education and vocational training; healthcare, and dispute resolution and trade facilitation.
SOURCE: The Hindu Business Line
India is a big potential market for China and there is an enormous scope of economic cooperation between the two nations, a Chinese embassy official said here. "India is a big potential market for China. More and more Chinese companies are coming to India," Second Secretary, Chinese Embassy in India Li Rong Rong said. Referring to the visit of Indian Prime Narendra Modi to China and Chinese President Xi Jinping's visit to India earlier, she said these would “definitely promote cooperation between the two neighbours." "In 2013, China took over as India's largest trading partner. India's growth is fastest in the world this year. Huge potential of cooperation between China and India," Rong said. "We hope to work with Indian side to provide timely and accurate information for business with Cangzhou and thereby enhancing level of cooperation. Hope businesses from Cangzhou expand their activities in India," she said while addressing the Cangzhou and India Economic and Trade Cooperation Promotion Conference.
Shang Liguang, Cangzhou Party Secretary, Cangzhou Municipal Party Committee said: "We would like to focus on this cooperation in the open policy and encourage our enterprises to go abroad for investment and attract business into China with advantages of funds, technologies, patents and management." "We will push both sides (India and China) to cooperate in different fields, especially in petrochemical and pipe equipment for a win-win cooperation and mutual development." Cangzhou's steel pipe equipments occupy 60 per cent market in China and are exported to more than 90 countries. In petrochemicals, Cangzhou has over 1,100 enterprises covering the fields of exploitation of oil and gas exploration, petrochemical, chemical materials, pharmacy, chemical fibre, rubber and plastics. In 2014, the import and export volume between Cangzhou and India stood at USD 130 million in the fields of petrochemical, pipe equipment, ore products, machinery and vehicle parts, among others.
SOURCE: The Economic Times
Hectic road-widening work is on in north Bengal along the 33-km stretch from Fulbari checkpost on Bangladesh border to Panitanki border with Nepal. Also from Changrabanda land customs station with Bangladesh to Jaigaon border with Bhutan, covering a distance of 90 km. They are part of the Asian Highway projects to facilitate seamless movement of cargo and passengers between Bangladesh, Bhutan, India and Nepal (BBIN). According to initial assessments, it may reduce trade costs by five to seven per cent by cutting down on travel time and procedural delays.
4-nation pact
The four-nation motor vehicles pact is in place. Implementation was due on January 1. But the ongoing stand-off between New Delhi and Kathmandu over the Madhesi agitation in Nepal is delaying the finalisation of the details. Will the tensions in India-Nepal relations cast a shadow over the Prime Minister Narendra Modi’s dream of creating a sub-regional trade block? “No way,” says Rajendra K Khetan who owns a $500 million financial services empire – including, bank, insurance, stock trading and others – in Kathmandu. “BBIN is a multilateral arrangement endorsed by Parliaments of the participating countries and is there to stay. What we are witnessing now is a temporary phase that will pass in no time,” he said.
Restrictions in Nepal
He foresees sharp rise in trade volume through Panitanki-Kakarvitta (Nepal) border that now handles a fraction of Nepal’s foreign trade. But with time, this treaty will pave way for greater play of market forces across the region. A case in point is Nepal’s insulated economy. Kathmandu doesn’t allow its business to invest outside, largely fearing a flight of capital to India. This has actually worked against Nepal. While capital is finding its way to neighbouring countries illegally, Nepali business is missing the growth opportunity. Khetan’s Laxmi Bank that is flushed with cash, for example, jostles for space with nearly three dozen competitors in Nepal, instead of tapping the lending opportunities in India. BBIN, he feels, will trigger reforms.
BBIN forum in Dhaka
Bangladeshi business has already gone a step ahead in realising the dream. “We have formed the ‘BBIN Investment Forum’ of industrialists in October,” said Abdul Matlub Ahmab a prominent businessman in Dhaka and president of Bangladeshi apex chamber FBCCI (Federation of Bangladesh Chambers of Commerce and Industry). Initially, the forum included industrialists from India and Bangladesh. Bhutan has shown interest to join the initiative. Ahmab is confident that Nepali business will also come along. With promises, there are some concerns too. Bhutan has already requested both Nepal and Bangladesh to limit crossborder movement of trucks and passenger buses, to safeguard the interests of local transporters. Ahmab admits similar concerns in Bangladesh with respect to over $6 billion India-Bangladesh trade. But he denies it to be a stumbling block. Chandra Kumar Ghimire, Nepali consul general in Kolkata feels the answer lies in enhancing the size of the trade so that everyone gets more.
SOURCE: The Hindu Business Line
India and US today took stock of their bilateral relations including those of strategic interest. Foreign Secretary S Jaishankar and US Deputy Secretary of State Antony Blinken deliberated on a range of key issues of mutual interests as part of the India-US Foreign Office Consultation. Jaishankar and Blinken also reviewed implementation of decisions taken during US President Barack Obama's visit here in January besides reviewing the security scenario in the region. India and the US had managed to break the seven-year-old logjam in operationalising their landmark civil nuclear agreement during Obama's talks with Modi here in January. Both sides had also agreed on four projects under the Defence Technology Transfer Initiative (DTTI) including exploring development of advanced jets in India. Issues relating trade, business and defence are understood to have figured in the deliberations.
SOURCE: The Economic Times
The 12-nation Trans Pacific Partnership (TPP) led by the US is unlikely to have a significant impact on India's trade, but the mega trade deal could have an adverse bearing on India's textiles and clothing businesses, according to a Government think tank Centre for WTO Studies which analysed the TPP with reference to India. "We may not be impacted that much. We may lose a bit on textiles and clothing," a newspaper quoted Abhijit Das, Head of Centre for WTO Studies as saying. Vietnam, which is part of this trade pact, is a competitor of India in textiles sector in the American market. TPP is billed as the largest regional trade pact. According to the study, although TPP may not offer India much gain in terms of rise in its exports and would have very limited trade diversion, it does offer huge investment opportunities for India. The TPP trading bloc will also provide India with opportunities for developing its own global value chains with Indian lead firms. The study concluded that remaining out of TPP trading bloc can benefit India more than joining it. The trade diversion is not substantial but joining TPP may lead to a much higher rise in imports as compared to exports. The investment potential and opportunities become more viable by remaining outside TPP. Further, India can continue to enjoy the policy space it has with respect to many of the restrictive provisions of TPP.
SOURCE: Fibre2fashion
In the run-up to the World Trade Organisation's ministerial conference in Nairobi next week, India has said it wants the agenda finalised at Bali in 2013 to be implemented before it makes any fresh commitments. India is not willing to make binding commitments on new areas such as labour, environment and competition that the developed countries have been trying to introduce into the WTO mandate, officials said. WTO's tenth ministerial conference is set to take place from December 15-18. Commerce and industry minister Nirmala Sitharaman said in an interaction with the media on Monday, "The grievance is that many things which are part of the development agenda don't have a work programme. Even after Bali in 2013, there is no work programme like there was for trade facilitation agreement."While India had agreed to ratify the trade facilitation agreement (TFA), clarity is yet to emerge on the rest of the Bali package that comprises agriculture issues including public stockholding for food security purposes and export competition, cotton and issues pertaining to least developed countries. The commerce department has circulated an interministerial note on TFA and the Cabinet will consider it soon. Developed countries have been trying to insert new issues related to investment, competition, labour, government procurement, environment, climate change and global value chains.
According to India's trade negotiators, though, discussions on Mode 4, involving movement of natural persons, in the services agreement will be welcome even though the country has not taken any position on this issue. Sitharaman said that India's wish list from the ministerial has four elements - permanent solution for stockpiling for food security, safeguard mechanism in case of sudden rise in imports or fall in prices, no differential treatment only because India is a high growth emerging economy and the inclusion of peace clause in the draft ministerial declaration. "Our effort to ensure that the unfulfilled elements of Doha find a place somewhere and work programmes are given differentiated treatment is not applicable and we have enough instruments for protecting from any sudden surge," the minister said. Asked whether India will be considered an obstructionist country because of such a stance, she said, "I didn't get the feeling that in current phase of working towards Nairobi, India is seen as obstructionist. I am not asking for something new, so how can I be seen as obstructionist?" While safeguards mechanism was not part of the Bali outcome, India has been pressing for it because it will give it the right to impose contingency restrictions on imports when import volumes rise above a certain level or prices fall below a certain level.
SOURCE: The Economic Times
The Ministry of Micro, Small and Medium Enterprises (MSME) is implementing the National Manufacturing Competitiveness Programme (NMCP) to develop global competitiveness among Indian MSMEs. This programme targets at enhancing the entire value chain of the MSME sector through the following schemes:
These schemes are implemented throughout the country by various MSME-DIs/ implementing Agencies. The funds are released to MSME-DIs / Implementing agencies that in turn transfer the funds to the respective beneficiaries/ MSMEs throughout the country. This information was given by the Minister of State, Micro, Small and Medium Enterprises, Shri Giriraj Singh in a written reply to a question in Lok Sabha.
Source: http://pib.nic.in/
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$ 38.61 per barrel (bbl) on 07.12.2015. This was lower than the price of US$ 40.22 per bbl on previous publishing day of 04.12.2015.
In rupee terms, the price of Indian Basket decreased to Rs 2572.73 per bbl on 07.12.2015 as compared to Rs 2687.93 per bbl on 04.12.2015. Rupee closed stronger at Rs 66.63 per US$ on 07.12.2015 as against Rs 66.84 per US$ on 04.12.2015. The table below gives details in this regard:
|
Particulars |
Unit |
Price on December 07, 2015 (Previous trading day i.e. 04.12.2015) |
Pricing Fortnight for 01.12.2015 (Nov 11 to Nov 26, 2015) |
|
Crude Oil (Indian Basket) |
($/bbl) |
38.61 (40.22) |
41.17 |
|
(Rs/bbl |
2572.73 (2687.93) |
2725.87 |
|
|
Exchange Rate |
(Rs/$) |
66.63 (66.84) |
66.21 |
Source: http://pib.nic.in/
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. They will focus on strengthening their cooperation to boost manufacturing output in key economic sectors of textile, electronics and car assemblies, a top Chinese official said last week. As 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, said Chinese Vice Minister of Commerce Zang Xiangchen. 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.
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. 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. The Chinese official said that Beijing would support other Chinese firms to invest in special economic zones by offering them the financial support to invest in Africa. They want to make use new financial facilities to promote their cooperation. They want to make this economic cooperation with Africa more efficient.
SOURCE: Yarns&Fibers
A new report titled "Smart Textile Markets 2016-2023" US industry analyst firm n-tech Research says the market for smart textiles, including fabrics manufactured with smart materials and those that utilize embedded sensors, will grow to $1.8 billion by 2021. The smart textile sector has taken off in the past few years, driven by the keen interest in the Internet-of-things (IoT) and enabled by the latest smart materials and powerful sensing devices. This report provides market coverage of the potential for emerging textile products where the textile is rapidly becoming the sensor. In this report n-tech focuses especially on electrically conductive yarns and threads, conductive polymers, shape memory materials, color-changing materials, phase-changing materials, self-cleaning and antimicrobial materials and nanomaterials The report also includes an analysis of applications where n-tech believes smart textiles have a real opportunity to move beyond the lab and expensive demonstrations high-volume commercial applications. End-user applications covered include: medical, health and fitness, military and security, fashion and non-clothing applications. The new study also contains detailed eight-year market forecasts of smart textiles both in revenue and volume terms with breakouts by type of sensors and smart materials used, as well as the end-user sector in which they are sold. There is also extensive coverage of the product/market strategies of leading firms in this space including Adidas, AiQ, BASF, Bekaert, BeBop, Bodi Trak, Carre, and Nike among many others.
According to the report, the largest market for smart textiles is to be found in the medical sector, which will become an $843 million market by 2021. Using smart clothing, patients with chronic diseases, such as diabetes and heart problems, will continuously and simply monitor their health and send updates to their physician, providing more useful data and avoiding office visits. Technology of this kind already exists in smart sports clothing and will be extended to medical applications as sensors become more accurate. Meanwhile, the market for self-cleaning textiles will reach $573 million by 2021. While this kind of technology has been available for some time, driving its growth will be ability of self-cleaning textile coatings to become fully omniphobic – being able to rid fabrics of a broader range of dirt, oil and grease, wine stains, etc. In addition, self-cleaning textiles are expected to integrate smart antimicrobial capabilities. Self-cleaning textiles that are hydrophobic on the outside and hydrophilic on inside are also being developed. These repel water and stains from the outside while minimizing perspiration stains.
By 2021 smart textiles are expected to use $134 million in sensors with more than half of those revenues coming from pressure sensors. The report notes that this is an area that is attracting venture capital where it benefits from the current interest of VCs in the related area of IoT sensors. There are also important new textile-specific developments in the sensor area, such as the creation of fabric transistors.
SOURCE: Fibre2fashion
With interest growing in eco-friendly home deco (such as the fashion for plants with depolluting properties), new type of light emitting textile that could absorb the pollution in our homes has been developed by a team of researchers at the CNRS research center in French city of Lyon. This new type of textile could find a place in sofas, cushions, curtains, blankets, etc. of our home. 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. 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 homes and, on a global level, by removing pollution from the air and water and neutralizing odors, particularly in industry.
SOURCE: Yarns&Fibers
