Textile Raw Material Price 2015-12-21
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
979.74 |
USD/Ton |
-0.70% |
12/21/2015 |
|
VSF |
2036.63 |
USD/Ton |
-0.38% |
12/21/2015 |
|
ASF |
1924.77 |
USD/Ton |
0% |
12/21/2015 |
|
Polyester POY |
918.03 |
USD/Ton |
0% |
12/21/2015 |
|
Nylon FDY |
2345.21 |
USD/Ton |
-0.65% |
12/21/2015 |
|
40D Spandex |
4937.28 |
USD/Ton |
0% |
12/21/2015 |
|
Nylon DTY |
5748.85 |
USD/Ton |
0% |
12/21/2015 |
|
Viscose Long Filament |
1172.60 |
USD/Ton |
0% |
12/21/2015 |
|
Polyester DTY |
2175.49 |
USD/Ton |
0% |
12/21/2015 |
|
Nylon POY |
2109.92 |
USD/Ton |
0% |
12/21/2015 |
|
Acrylic Top 3D |
997.48 |
USD/Ton |
-0.31% |
12/21/2015 |
|
Polyester FDY |
2607.50 |
USD/Ton |
0% |
12/21/2015 |
|
30S Spun Rayon Yarn |
2746.36 |
USD/Ton |
-0.56% |
12/21/2015 |
|
32S Polyester Yarn |
1573.76 |
USD/Ton |
0% |
12/21/2015 |
|
45S T/C Yarn |
2530.36 |
USD/Ton |
0% |
12/21/2015 |
|
45S Polyester Yarn |
2931.51 |
USD/Ton |
0% |
12/21/2015 |
|
T/C Yarn 65/35 32S |
2499.50 |
USD/Ton |
0% |
12/21/2015 |
|
40S Rayon Yarn |
1728.05 |
USD/Ton |
0% |
12/21/2015 |
|
T/R Yarn 65/35 32S |
2190.92 |
USD/Ton |
0% |
12/21/2015 |
|
10S Denim Fabric |
1.08 |
USD/Meter |
0% |
12/21/2015 |
|
32S Twill Fabric |
0.91 |
USD/Meter |
0% |
12/21/2015 |
|
40S Combed Poplin |
0.98 |
USD/Meter |
0% |
12/21/2015 |
|
30S Rayon Fabric |
0.73 |
USD/Meter |
0% |
12/21/2015 |
|
45S T/C Fabric |
0.74 |
USD/Meter |
0% |
12/21/2015 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.15429 USD dtd.21/12/2015)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Imported yarn and finished fabric from China, Korea, Taiwan, Indonesia and Bangladesh have hit the local textile industry hard, especially those units which could not modernize their machinery. Weaving is the oldest industry in the holy city; the textile units here manufacture various kinds of fabrics, including suiting, shirting, tweed, blazers, blankets and women's dress material. Hence the local industry uses various kinds of yarns, the most popular being polyester viscose. Currently, the textile industry is going through a slump due to steep inflation. An industry expert said the textile fabric was no longer an essential commodity because fabric durability had increased.
The Amritsar Yarn Agents Association (AYAA) president, Kamal Dalmia, said the association, which had been floated with 60 members in 1989, now had 40 members. The number of agents dwindled after the majority of the obsolete units closed down. Besides, a large number of weaving units shifted to Ludhiana and Bhilwara (Rajasthan) due to the "unfavourable policies" of the government. Yarn agents were the mainstay of the business because they worked as a fulcrum between yarn manufacturers based in Ludhiana, Hoshiarpur, Haryana, Himachal Pradesh, Kathua in Jammu and Kashmir, and Rajasthan. He said utilisation of yarn came down due to labour trouble, wrong government policies and failure of the manufacturers to modernise their units. He further said that first inflation must be reined in on the lines of China, banks here must also give loans at about 7 per cent rate of interest and income-tax exemption must be raised from Rs 2 lakh to Rs 3 lakh.
Similarly, the excise exemption limit for the textile industry has been Rs 1.50 crore for the past eight years. Keeping in view the inflation, it must be raised to Rs 5 crore because the cost of investment had increased. The capital investment limit of Micro Small Medium Enterprises (MSME) was enhanced in September 2006 from Rs 2 crore to Rs 5 crore. This needed to be increased to Rs 10 crore now. It will give the advantage of a low rate of interest on loans. The government offices should deal their cases within the city. Imported machinery is required to modernise the units, rupee has devalued against the US dollar. It is at around Rs 64 per US dollar today. Besides, import duties must be reduced, power at Rs 7.50 per unit is extremely high while new industry would be offered power at Rs five per unit. This would create imbalance in the industry in the state. Archaic labour laws and prolonged legal cases are holding back the growth of the industry.
SOURCE: The Tribune India
Work has started for setting up an Integrated Textile Office Complex (ITOC) at Indian Institute of Handloom Technology (IIHT), Varanasi with Textiles Minister Santosh Gangwar laying the foundation stone on December 20, the Textiles Ministry said in a statement. The proposed office complex will house all offices in Varanasi under the Textiles Ministry, which work for the welfare of weavers. Co-location of offices of various allied agencies under the Textiles Ministry in the proposed building will provide a common platform to all stakeholders, including weavers, exporters and marketing agencies. This will enable them to better reap the benefits of Government schemes and with less effort, resulting in saving of time and money. This will thereby contribute to higher productivity, income and better livelihoods for weavers, the statement said. In addition, the ITOC in the IIHT campus will facilitate obtaining of necessary approval for starting the Degree course “B. Tech in Handloom & Textile Technology” at IIHT Varanasi campus on the lines of the course in IIHT Salem. This in itself will fulfil the long-felt need for such a course in this part of the country.
Furthermore, bringing a NIFT extension counter in the IIHT campus will not only catalyze the students' learning process, but will also bring in better synergy between their academic projects and the design related activities of Weavers Service Centre, resulting in value-addition to the weavers' products. The ITOC) is expected to be ready within two years at an estimated cost of Rs 64 crore. According to the statement, the 5-floor building will house offices of IIHT, Weavers Service Centre, Central Silk Board, NITRA Powerloom Service Centre and NIFT extension centre. The building will also provide for educational facilities for IIHT, such as classrooms, laboratories and library; and common facilities such as auditorium, seminar hall, cafeteria, sports club, gymnasium and guest house.
SOURCE: Fibre2fashion
Aimed at boosting the domestic handloom industry, Textile Minister Santosh Kumar Gangwar yesterday launched in Varanasi the Enterprise Resource Planning system for the commercial activities of the National Handloom Development Corporation (NHDC) which will benefit the weavers. The ERP system will improve productivity, increase efficiencies, decrease costs and streamline supply of raw material processes in NHDC, an official release said. NHDC has thus become the first PSU under the Textiles Ministry to have the ERP system, it said. This system will significantly benefit the weavers, who are the primary beneficiaries of the government's yarn supply scheme, the release said. It will also result in higher transparency and accountability, making the corporation's activities visible for all stakeholders, it added. All processes - such as indenting, purchase order generation and invoice generation - will be performed through the ERP system itself. Procurement, inventory management and demand forecasting will also improve, resulting in high quality customer service, the statement said. In a separate statement, the textiles ministry said that Gangwar laid the foundation stone for the integrated complex at Indian Institute of Handloom Technology (IIHT) Varanasi today. The proposed office complex will house all offices in Varanasi under the Ministry of Textiles, which work for the welfare of weavers.
SOURCE: The Jagran Post
Maharashtra Chief Minister Devendra Fadnavis today handed over an "offer letter" allocating 500 acres of land to Raymond Group for setting up a Rs 1,500-crore textile unit in Vidarbha. The letter was given to Raymond Group Chairman and Managing Director Gautam Singhania in the CMO in Vidhan Bhawan where the winter session of the state legislature is underway. The textile unit will come up at Nandgaon Peth in Amravati district on 500 acres (200 hectares), the CM told the House. Singhania, accompanied by a team of company officials, was present in the Visitor's Gallery when the CM made the announcement. When Fadnavis drew attention of House about the head honcho's presence in the gallery the members greeted him with thumping of desks which Singhania acknowledged with folded hands. The upcoming unit will generate about 7500 employment opportunities, the CM added.
Similarly, the state government has allocated 102 hectares of land collectively to Shyam Indofab Ltd, VHM Industries, Suryalaxmi Cotton Mills and Siyaram Silk Mill where a total investment to the tune of Rs 1500 crore is expected. "These units will employ about 5200 people," Fadnavis said, adding that Shyam Indofab has already started production. The CM said the government has decided to set up textile parks in the cotton belt of Vidarbha, besides in Marathwada and north Maharashtra through state Industrial Development Corporation (MIDC). Apart from Nandgaon Peth, the textile parks will come up at Yavatmal, Chikhli (Buldana), Jamner (Jalgaon), Kannad (Aurangabad), Selu (Parbhani), Bhaler (Nandurbar), Malegaon (Nashik) , Krishnur (Nanded) and Majalgaon (Beed).
SOURCE: The Economic Times
The government might consider pruning the list of around 300 goods exempt from excise duty in the Budget to make up for the extra expenditure on account of higher government salaries and defence pensions in the next financial year. The Seventh Pay Commission's recommendation of a 23.55 per cent increase in pay and allowances of government employees from January 1, will need an estimated Rs 1.02 lakh crore extra expenditure. The Centre plans to bring down its fiscal deficit to 3.5 per cent of gross domestic product in 2016-17, from the 3.9 per cent target this financial year. The move will also align central taxation to the proposed goods and services tax (GST). The pruning of the central excise list of 300 exempted items will bring it closer to the 90 goods exempted by state value-added tax. While the list is going to be slashed to 90 under the proposed GST, it might be pruned somewhat close to that in the next Budget. "The idea is to do away with or phase out tax exemptions. This will not only broaden the tax base but also clean up the taxation structure. We are examining if some excise exemptions can be done away with in preparation of GST," said a government official.
According to estimates, reducing the list from 300 to 90 could add Rs 50,000-60,000 crore in tax revenue. The list of exempted goods has shrunk from 470 items in 2011-12 to 300 now. Biscuits, honey, butter, cheese, tea, coffee and rusk are among the goods exempted by the Centre from excise duty, but are charged a levy by the states. States exempt unprocessed goods and those consumed by the poor like fruit, vegetables, salt, grain and coarse fabric. Chief Economic Advisor Arvind Subramanian recently argued that extensive central excise exemptions amounted to about Rs 1.8 lakh crore, or 80 per cent of excise duty collections. "Given the historic opportunity afforded by the GST, the aim should be to clean up the Indian tax system that has effectively become an 'exemptions raj' with serious consequences for revenue and governance," a report prepared by Subramanian said. It called for the list of exemptions to be restricted to a few merit goods such as food that featured prominently in the consumption basket of the poor. "If the GST is not happening, pruning central excise exemptions will be a prudent revenue-raising option. Reducing the list from 300 to 90 could add Rs 50,000-60,000 crore in tax revenue," said Satya Poddar, senior tax advisor, EY. "Bringing the list to a bare minimum and aligning it to the GST model will be a great revenue source for the government," said Gautam Khattar of PwC. "Besides, the government could look at demerit items such as tobacco and aerated drinks to hike duty in the Budget," he added.
Rajiv Dimri, leader, indirect tax, BMR Advisors, said the process of reducing excise duty exemptions had been on for a while and a further pruning would be a great measure to raise revenue. In 2011-12, the then finance minister Pranab Mukherjee had proposed to limit duty exemptions to 130 items, including certain kinds of animal fats, toothpowder, soups and candles. "What was done in 2011-12 was cosmetic and many of the proposals were withdrawn. It did not result in much revenue gain for the Centre," said Poddar. "The focus will definitely be on curtailment on central excise exemptions as we can note from the trend since 2011-12, where duties were introduced on certain exempted items and hiked thereafter," said Saloni Roy, senior partner, Deloitte. The government is also working on reducing the negative list of 17 services for taxation under the GST. Only essential services like health and education are likely to be exempted.
SOURCE: The Business Standard
The rupee continued to rule firm against the US currency for the fifth straight session and ended higher by five paise at 66.35 on persistent selling of dollars by banks and exporters amid recovery in equities. The domestic unit resumed higher at 66.35 a dollar against last Friday's level of 66.40 at the interbank foreign exchange (Forex) market. It moved in a range of 66.26 and 66.36 during the day before ending at 66.35, showing a further gain of 5 paise or 0.08 per cent. The rupee has gained 74 paise or 1.10 per cent in five days. The dollar index was up by 0.07 per cent against the the basket of six currencies in the late afternoon trade.
At overseas, the dollar drifted lower in light Asian trading early today amid doubts about how far and fast the Federal Reserve would raise US interest rates next year. Oil prices resumed their slide in Asia as a spurt in the number of US oil rigs in use and the prospect of renewed crude exports from the country compounded a global oversupply. However, the dollar was almost flat against the yen in quiet, range-bound late Asia trade on Monday, with gains capped after the Bank of Japan disappointed the market with its steps to complement its existing easing programme. Pramit Brahmbhatt, Veracity Group CEO, said, "The rupee closed on a positive note at 66.35 levels gaining five paise. Today lndian benchmark index Nifty gained 72 points on back of continuous buying throughout the day. Trading range for the spot $/Rs pair is expected to be within 66 to 66.75 range.
SOURCE: The Business Standard
The government has constituted an independent working group under the Chief Economic Advisor to examine the impact of free trade agreements (FTAs) signed by India, the Parliament was informed today. "The Ministry of Finance has constituted an independent working group under the Chairmanship of the Chief Economic Advisor to examine the impact of FTAs signed by India", Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Lok Sabha. The working group would undertake an analysis of bilateral trade and investment flows with the countries with which India has signed FTAs, comprehensive economic cooperation agreements (CECAs) and comprehensive economic partnership agreements (CEPAs), at the aggregate and the sectoral level, she said. It would also analyse the impact of these agreements on certain specific sectors in greater detail, she said. India has signed FTAs with countries such as Japan, South Korea, Singapore, and ASEAN group. Replying to a separate question, she said in the first meeting of joint working group on trade and commerce in April, India and Iran have agreed to examine the scope and the feasibility of entering into a preferential trade agreement.
SOURCE: The Economic Times
The Goods and Services Tax (GST) is critical to revive the economy, Assocham President Sunil Kanoria said. “Even if special session of Parliament is required, or extension of current session is needed, let GST amendment see the light and roll out from the coming financial year,” he said in a press conference held here on Monday. The industry is concerned that the present session of Parliament is not able to do much, he added. While agreeing to the government’s contention that GST was revenue neutral, Kanoria said a ‘perfect’ GST would still be a long way. On the state of affairs in the infrastructure sector, he said the new Arbitration Act can make a positive difference in resolving various issues for the contractors with government agencies. There are projects worth Rs. 5 lakh crore that are held up. Even if some of them are set rolling, it will be good for the economy, he said.
SOURCE: The Hindu Business Line
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$ 32.61 per barrel (bbl) on 21.12.2015. This was lower than the price of US$ 33.62 per bbl on previous publishing day of 18.12.2015.
In rupee terms, the price of Indian Basket decreased to Rs 2162.73 per bbl on 21.12.2015 as compared to Rs 2232.85 per bbl on 18.12.2015. Rupee closed stronger at Rs 66.32 per US$ on 21.12.2015 as against Rs 66.42 per US$ on 18.12.2015. The table below gives details in this regard:
|
Particulars |
Unit |
Price on December 21, 2015(Previous trading day i.e. 18.12.2015) |
Pricing Fortnight for 16.12.2015 (Nov 27 to Dec 11, 2015) |
|
Crude Oil (Indian Basket) |
($/bbl) |
32.61 (33.62) |
39.02 |
|
(Rs/bbl |
2162.73 (2232.85) |
2603.80 |
|
|
Exchange Rate |
(Rs/$) |
66.32 (66.42) |
66.73 |
SOURCE: PIB
India has registered its “strong disappointment” over non-reaffirmation of the Doha Development Agenda and “concern” over a few amendments made in the draft decision and declarations on cotton, according to an agency report. "I very clearly had mentioned under cotton that for the developing countries, we shall not accept the date. That date of 2017 has gone through, which is completely unacceptable to me ... So I would still appeal to delete the date given here," she said at the concluding session of the 10th WTO Ministerial Conference in Nairobi. According to the draft decision on cotton, the members decided to phase out export subsidies for developed nations immediately, while it has been marked for developing countries not later January 1, 2017. On the decision agreed on the phasing out of the export subsidies, Sitharaman said in some paragraphs, the term "developed members" has been substituted with "inclusive of developing countries" which is also "not acceptable" (to India)'. As per the draft ministerial decision, the WTO members reaffirmed their commitment, pursuant to the 2013 Bali Ministerial Declaration on Export Competition, to exercise utmost restraint with regard to any recourse to all forms of export subsidies and all export measures would equivalent effect. "Developed Members shall immediately eliminate their remaining scheduled export subsidy entitlements as of the date of adoption of this Decision. Developing country Members shall eliminate their export subsidy entitlements by the end of 2018," the declaration 2013 said.
SOURCE: Fibre2fashion
Sections of the civil society blamed what they called the Narendra Modi government's inclination towards developed countries for India's failure to get a favourable deal at WTO's Nairobi ministerial. India's position didn't go down well with the developing countries at the talks, they claimed. While Dinesh Abrol, convener of the national working group on patent rights, said there was a lack of solidarity among developing countries at Nairobi, Jawaharlal Nehru University Professor Biswajit Dhar said India was at the forefront of developing countries but this "abject surrender" showed that Washington has become the new power centre and not Geneva for WTO issues.
India faced a major setback due to a lack of consensus among WTO countries on reaffirming the Doha Development Agenda, which was its most important demand from this ministerial. Besides, developed countries were also successful in clinching the deal away from India by allowing new issues to be taken up in the WTO's mandate. These civil society representatives said the Doha round was effectively dead and the WTO would undergo a complete change in character hereon. "India had the option of standing firm like in the Singapore ministerial... After the failure of two ministerial conferences, the government should unite with the developing countries and not integrate with the north," Abrol said. They said other developing countries did not like India's bilateral dealing with the US last year on getting a peace clause in perpetuity till a permanent solution for public stockholding for food security is found. "So, Nairobi is the culmination of what began in Bali," one representative said.
SOURCE: The Economic Times
A business delegation, including Reliance Group's Anil Ambani and TATA Advanced System's Sukaran Singh will take part in an interactive session in Russia during Prime Minister Narendra Modi's visit to Moscow this week. The Indian business leaders will take part in the Indo-Russia CEO Summit which will focus on enhancing trade and business ties, among others. The 18-member Indian delegation, also include Baba Kalyani of Bharat Forge, top management officials from state-run HAL and Indian Oil Corporation, ONGC, among others. A 34-member strong delegation from Russia and President Vladimir Putin are expected to take part in the session. In 2014, the Indo-Russia bilateral trade stood at USD 9.51 billion, of which India's exports to Russia accounted for USD 3.17 billion and Russian exports to India were at USD 6.34 billion. India has said it attaches the highest importance to the strategic and privileged partnership with Russia.
SOURCE: The Economic Times
India has urged Pakistan to make it a member in the Afghanistan Pakistan Transit and Trade Agreement (APTTA) that was signed in 2011. This would allow the entry of containers from Afghanistan into Attari through the Wagah border land station. This will help India expand trade ties with Afghanistan through seamless connectivity and enable New Delhi have a greater say in the trading system of the region. “Besides, signing the pact will also allow Afghanistan goods to crossover the Wagah land station and enter India through Attari. So we have asked Pakistan to include us as a member in APTTA but they have not yet responded,” a senior official told BusinessLine . At present, trucks and containers from Afghanistan are not able to send their exports seamlessly to India through the land border. They have to drop the goods, meant for India, at the last checkpoint at the Wagah border which is then picked up by the Indian authorities. But, India is not able to send any goods to Afghanistan, the official said. “Attari is just a few metres away from Wagah, if they can allow the trucks till Wagah, then why not Attari? That way India can also send its exports meant for Afghanistan through the same ICP and save a lot of time and money,” the official added. While Afghanistan has given its nod to the proposal, Pakistan is yet to respond.
The issue was also raised by External Affairs Minister Sushma Swaraj during her recent meeting with Pakistan Prime Minister Nawaz Sharif and her Pakistan counterpart Sartaj Aziz. India is also trying to access Afghanistan by establishing connectivity with Iran through the Chahbahar Port under a trilateral transit arrangement. India’s shipments to Afghanistan contracted by 11 per cent to $422.56 million last fiscal compared with $474.34 million in 2013-14. Two-way trade between the countries stood at $684.47 million in 2014-15 registering a meagre 0.20-per cent growth from $683.10 million in 2013-14, according to data from the Ministry of Commerce and Industry.
SOURCE: The Hindu Business Line
India is close to signing collaborative jurisdictional agreements with three countries - Singapore, the United Arab Emirates and Hong Kong - for dealing with challenges related to the siphoning of black money, said the Central Board of Direct Taxation (CBDT). A spokesperson of the CBDT told ANI in an e-mail interview that the CBDT is in the process of coming up with a revised note before December 31, 2015 that will provide guidance to financial institutions, regulators and tax department officers for ensuring compliance of norms decided at the recent sixth meeting of Automatic Exchange of Information (AEOI) which held in Delhi this month. "Dubai, Hong Kong and Singapore will fall under jurisdictions which have committed for AEOI from 2018, although they have yet to sign the Multilateral Competent Authority Agreement (MCAA) for the AEOI," the CBDT spokesperson informed ANI. "Once Singapore and the UAE sign the MCAA, India would be able to exchange information automatically with these countries from 2018 onwards, where as the treaty negotiation with Hong Kong is underway," the spokesperson added. The CBDT spokesperson further revealed that AEOI will help create an environment of transparency between 75 countries that have signed the MCAA, including nations like Switzerland and the Brtish Version Ireland (BVI) etc. "The AEOI, when fully implemented, would enable India to receive information from every country in the world, including offshore financial centres and tax havens, and would be the key to prevent international tax evasion and avoidance, and would be instrumental in getting information about money stashed," the spokesperson added. She also revealed that the CBDT has constituted an "Information Security Committee" to ensure confidentiality of date received from foreign countries that will ensure a transparent environment to deal with the problem and challenges of black money.
The Information Security Committee, she said, "will apply processes such as ratification and information security policies and procedures (ISPP) to ensure implementation and management review, besides focus on maintaining continuing suitability, adequacy and effectiveness of ISPP." External security reviews and ensuring that action is taken to rectify any identified shortfalls will be the Information Security Committee's top-most priority, along with its responsibility for taking disciplinary action in cases of a breach of the ISPP, the CBDT spokesperson said. Insofar as Non-Resident Indians (NRIs) were concerned, the CBDT said that the AEOI sees NRIs, green card holders and students residing in the United States as being already covered under the Fair and Accurate Credit Transactions Act (FACTA) between India and the United States, but added that the AEOI can take special privilege in including them under its committee. It may be recalled that at the sixth meeting of the AEOI, Minister of State for Finance Jayant Sinha had said that non-disclosure of foreign assets will increasingly become a risky affair for tax payers, as strict bank secrecy will ensure sooner than later a new environment of operational transparency.
SOURCE: The Economic Times
The e-textiles market will reach over $3bn by 2026, according to a research paper by UK-based IDTechEx, a market research company. IDTechEx have produced a comprehensive guide to all of the key techniques currently in use throughout industry and research. Key advances in the last five years have led to early commercial products, with a market of around $100m in 2015. However, as larger names enter the space and returns on the significant investments made start to surface, IDTechEx forecasts that the market will reach over $3 billion by 2026, with 'Sports & Fitness' and 'Medical & Healthcare' being the two largest sectors.
According to the research, from clothing to bandages, bed linen to industrial fabrics, new products integrating e-textiles are being created. The market has been slow to start due to many challenges, but with large companies investing heavily and releasing early products, growth is expected to accelerate rapidly over the next decade. In their purest form according to the definition, e-textiles based on the integration of inherently electrically or electronically active fibres have begun to see integration into early products. However, with many associated challenges around reliability, performance and comfort, there has been a strong push towards other solutions that can achieve better properties including washability, stretchability and new functionalities. The result is a complex ecosystem of different material, component and connection options that are now available for product designers. The report describes the full value chain, looking from the material and component options, to the manufacturing challenges, through to the applications, markets and key end users. Trends by market sector are crucial, as the addressable markets are both large and diverse. The report characterizes key market sectors including 'Sports & Fitness', 'Medical & Healthcare', 'Wellness', 'Home & Lifestyle', 'Industrial, commercial, military', 'Fashion' and 'Others' (including automotive).
Finally, the report looks further into the future, describing the cutting-edge of e-textile research. Componentry such as photovoltaics, supercapacitors, batteries and even memory are made directly as a fibre. Materials such as carbon nanotubes, inorganic nanorods and piezoelectrics are integrated within textile structures, introducing new properties. Systems combining the best in conventional electronics with flexible sensors and actuators via bespoke connectors enable new product options, the report said.
SOURCE: Fibre2fashion
Pakistan’s textile exports declined by 14.6 per cent in November due to both external and internal issues. In absolute terms, Pakistan exported textile commodities worth $961 million during November as compared to $1.13 billion of the corresponding month of the previous year. According to the latest figures of Pakistan Bureau of Statistics (PBS), the country’s textile exports stood at $5.2 billion during July-November of the ongoing fiscal year as against $5.7 billion of the same period of last year, showing a decline of 8.4 per cent. “Exports could further tumble in the months to come as government has suspended gas supply to Punjab’s textile mills indefinitely,” said an official of the All Pakistan Textile Mills Association talking to The Nation. He further said that more than 400 of spinning, weaving and processing were being supplied gas just for four hours a day in November, which now has been halted completely in December.
Exports would also suffer as cotton arrival in November 2015 had dropped to just 5.1 million bales against 8.5 million bales of last year in Punjab, a decline of 40 per cent. Pakistan’s exports are continuously declining from last several months. The Ministry of Commerce attributed the decline in exports to adverse terms of trade triggered by massive reduction in commodity prices and weak global demand. The PBS data showed that export of readymade garments registered a growth of 3.59 per cent during July-November 2015 over a year ago. Similarly, exports of towels recorded growth of 6.1 per cent.
Meanwhile, all other textile goods had registered negative growth including raw cotton 29.52 per cent, cotton yarn 28.01pc, cotton cloth 9.88pc, cotton carded or combed 97.9pc, yarn 24.4pc, knitwear 2.26pc, bed wear 7.36pc, tents, canvas & tarpaulin 45.4pc, art and silk & synthetic textile 21.9 per cent, during July-November 2015 as compare to the same period last year. According to the PBS data, country’s overall exports came down to $8.5 billion in July-November of the year 2015-2016 from $9.9 billion of the same period of previous year. Meanwhile, imports decreased by 9 per cent to $18.5 billion in July-November 2015-2016 from $20.3 billion of the same period last year. Pakistan’s trade deficit, gap between exports and imports, narrowed to $9.9 billion during five months of the current financial year from $10.4 billion of the corresponding period of previous year with reduction of 4.15 per cent. Import bill of oil witnessed a decline of 41.21 per cent to $3.6 billion in first five months (July-November) of the ongoing financial year 2015-16 from $6.1 billion in the same period last year. The break-up of oil import showed that country imported petroleum products worth of $2.3 billion and crude oil worth of $1.3 billion.
SOURCE: The Nation
To ensure exhibitors effectively meet target buyers and so that buyers can find products, a number of country and region pavilions will feature at Intertextile Shanghai Apparel Fabrics – Spring Edition. Over 3,000 exhibitors are expected to participate at Intertextile Shanghai Apparel Fabrics which begins from March 16 at the National Exhibition and Convention Center in Shanghai and will occupy a gross area of 156,000 sq. metres. Among the attract's is SalonEurope, a premium products zone, which will see participation from Europe's top suppliers as well as country pavilions and the Milano Unica Pavilion. “The Premium Wool Zone will showcase high-end wool and cashmere fabrics from France, Italy the UK and elsewhere,” a press release from the organiser Messe Frankfurt said.
Another is Verve for Design, where the industry's best studios from Europe and Asia will present their creative pattern design ideas. Beyond Denim will feature the latest in denim products and trends, while at All About Sustainability, the entire textile sustainability supply chain will be on offer along with a display area and an educational zone. “The Functional Lab is a new area for the Spring Edition which will cater to the fast-growing high-performance activewear market,” Messe Frankfurt added. “Both garment and fashion accessories from China and abroad will be showcased at the Accessories Zone,” the organiser informed.
In addition to these areas, group pavilions organised by the industry's leading mills will present the latest innovative products, while domestic exhibitors will once again be grouped by product end-use as well as in various pavilions. These include the China Bast and Leaf Fibres Textile Association Pavilion, and pavilions from Wujiang Shengze, Huzhou for silk, Haining for warp knits and Hangzhou Xiaoshan, Wuzhou Pingwan and Changle. Fairgoers will also be able to discover next season's trends in the Intertextile Directions Trend Forum, created by experts from NellyRodi Agency, Elementi Moda, Doneger Creative Services and Sachiko Inoue. According to Messe Frankfurt, there are further opportunities for exhibitors and buyers with four other concurrent fairs like Intertextile Shanghai Home Textiles, Yarn Expo Spring, CHIC and PH Value.
SOURCE: Fibre2fashion
Houston-based American Textile Recycling Service (ATRS) has purchased a clothing and shoe collection facility in Indianapolis formerly owned by Retail Management Specialists of Eastern Missouri LLC, for an undisclosed amount. The garment collection and donation business collects gently used clothing donations in Indiana for Disabled American Veterans (DAV). ATRS recycles textiles for free to be donated in 10 states and 28 metropolitan areas, performing the functions of grading and sorting the materials. The business partners with municipalities, property management companies, schools, churches, and local retailers to establish drop-off locations for donations of clothing, shoes, toys, and household textiles. ATRS, which launched in 2001, is present in post-consumer niches such as second-hand clothing, residential and commercial insulation, upholstery stuffing, and thread. It is working to establish its operations nationwide by 2025.
Americans generate 25 billion pounds of textile waste annually — only 15% of which is donated or recycled. The remaining tossed materials represent 5.2% of all of the trash generated in the U.S., according to the Council for Textile Recycling. Some clothing manufacturers like Levi's, H&M, and Speedo are doing their part to see that the products they generate don’t simply end up as waste by creating products from used textiles and or offering discounts on new clothes for old ones that they recycle. ATRS believes it has found its place in the repurposed clothing niche while supporting charity. "We are excited about our next phase of growth and development into the Midwest and beyond," said Debra Stevenson Peganyee, chief marketing officer for ATRS, to Waste360. "Our mission is to serve more communities and neighborhoods across the nation with easy convenient textile recycling solutions for all. We look forward to helping DAV expand this clothing donation partnership into an ongoing stream of monthly revenue to increase local programs and services for veterans statewide."
SOURCE: The Waste Dive
China and South Korea will cut tariffs on certain traded goods as the free trade agreement (FTA) between the two countries came into force on Sunday (December 20). The FTA aims to eliminate all tariffs eventually with gradual removal of barriers through the years. The two countries concluded talks on the FTA in November 2014. Seoul believes the FTA will enable South Korean companies to expand substantially in the world's largest consumer market and boost bilateral relations in trade and economy. China is South Korea's largest trading partner, with Chinese exports accounting for over a quarter of the total during the January-November period of this year alone. South Korea is China's third-biggest single-country trading partner.
Under the deal, both countries will eliminate tariff on more than 90 per cent of traded goods within 20 years after the implementation. As the FTA gets effective before the end of this year, the tariff cut will enter the second year in less than two weeks after the implementation. According to Seoul's estimates, South Korean manufacturers are forecast to see exports to China grow $1.35 billion thanks to the implemented FTA within a year. If the liberalized trade reaches its goal 20 years later, South Korean companies are expected to reduce tariff costs by up to $5.44 billion annually, much higher than tariff savings of $930 million from the South Korea-US FTA and $1.38 billion from the South Korea-EU FTA.
Textile is one of the major items in the Sino-Korean FTA and Taiwan had already expressed concern that the trade agreement could slash its exports to China. After the FTA was signed last year, the Taiwan Textile Federation (TTF) said 85 per cent of South Korean textile exports to China may be granted duty-free status in the future. At that time, TTF conservatively estimated the loss to Taiwanese textile exports to China could be $324 million or even more, once the FTA between South Korea and China is implemented. Taiwan mainly exports fibres, yarns and fabrics to China, while South Korea ships fibres, apparels and accessories among the major items.
SOURCE: Fibre2fashion
The landmark free trade agreement between China and Australia came into effect officially on Sunday (December 20), giving competitive advantages for exporters and investors from both countries into each other's market. The China-Australia Free Trade Agreement (ChAFTA) enables more than 86 per cent of Australia's goods exports to China duty free, worth more than $65 billion. Once the agreement is fully implemented in four years, 96 per cent of Australian goods will enter China duty free, while 100 per cent of Chinese exports to Australia will enjoy zero-tariff treatment. As far as textiles and clothing are concerned, under the FTA, China will get better access to Australian wool, while Australia will get Chinese textiles and apparel at lower prices. About 75 per cent of Australian raw wool is exported to China, and in 2013, the value of Australian wool exports to China was $1.9 billion, according to Australian Wool Innovation. China's top five exports to Australia include clothing, telecom equipment and parts, computers, furniture, toys and sporting goods while its top imports from Australia are iron ore and concentrates, coal, gold, education-related travel services and copper.
Under ChAFTA, Chinese enterprises and consumers will have greater access to natural resources and finished products like high-quality food. Australians will also benefit from cheaper China-made garments and electronic gadgets. Australian Trade Minister Andrew Robb said tariffs have been cut on a range of important Australian exports including dairy, beef, lamb, wine, seafood, fruit and vegetables, processed foods, vitamins and health products. Negotiations for ChAFTA began in 2005 and the agreement was signed in Canberra in June 2015.
SOURCE: The Global Textiles
Brent crude prices plummeted to a decade-low of $36.05 a barrel as inventory continued to rise with the relentless increase in global production. This trend could pull down prices further in 2016. The current Brent prices are below the low of $36.20 seen during the financial crisis in December 2008. Even though demand has been robust this year, crude inventories have risen to over one million barrels a day with storage tanks filling quickly and ships queuing up at key ports around the world, said analysts. Oil stocks in the developed world have ballooned to almost three billion barrels — or more than a month of global oil supplies, according to a report by the International Energy Agency. The global inventory is expected to rise next year with higher exports expected from Iran as the economic sanctions are lifted. At the same time, demand growth is likely to slow with major markets struggling to shrug off the recessionary trend. However, India, one of the largest importers of crude, will be the major beneficiary if the rupee holds against the dollar. Any depreciation of the rupee will eat into the benefits of a fall in crude prices.
SOURCE: The Hindu Business Line
