The Centre has set an ambitious target of achieving USD 100 billion from the country's textiles exports in the next five years, Minister of State for Textiles Darshana Jardosh said on Thursday. The Centre has set an ambitious target of achieving USD 100 billion from the country's textiles exports in the next five years, Minister of State for Textiles Darshana Jardosh said on Thursday. Addressing a CII event, the minister said, "The government has set a strong aspirational goal of achieving USD 100 billion from textiles exports in the next five years, and we will remain committed to ensuring the implementation of all development schemes and bring in many more schemes in pursuit of this aspiration", according to a statement by the chamber. The government has already announced the MITRA (Mega Integrated Textile Region and Apparel) scheme to attract new investments and build mega textile parks in the country. Other significant initiatives include the launch of the PLI scheme to achieve manufacturing excellence and RoDTEP to enhance export competitiveness. The minister was speaking at the inauguration of TEXCON. Addressing the conference, Textiles Secretary Upendra Prasad Singh said the government is making all efforts to proactively address the challenges and facilitate the creation of an enabling environment for the growth and development of the textiles and apparel sector. "We are capable to meet the domestic as well as the global market demands. I would like to urge the industry to take full advantage of the current global market shifts in establishing the excellence and prominence of India globally," he said.
Source: Zee Biz
The Foreign Secretary noted that his counterpart, Sir Philip Barton, Permanent UnderSecretary in the UK Foreign, Commonwealth and Development Office (FCDO), is expected in India soon to take the trade talks forward. With reference to the sectors of India-UK cooperation, Shringla highlighted the financial markets, people-to-people ties through the new Migration and Mobility Partnership, a firstever consular dialogue expected soon. India and the UK are looking at concluding an interim trade agreement amid negotiations towards a Free Trade Agreement (FTA), Foreign Secretary Harsh Vardhan Shringla said on Thursday. Addressing the India Global Forum (IGF) in London virtually from New Delhi, Shringla noted that British Foreign Secretary Liz Truss visit to India, expected over two days starting Friday, will add further momentum to the partnership as it coincides with the UK's Carrier Strike Group (CSG) arriving in Mumbai for joint exercises "We are negotiating a Free Trade Agreement as things stand. We are also looking at an interim trade agreement," said Shringla. "The visit of Foreign Secretary Liz Truss is planned to coincide with the UK Carrier Strike Group docking in Mumbai," he said. The Foreign Secretary noted that his counterpart, Sir Philip Barton, Permanent UnderSecretary in the UK Foreign, Commonwealth and Development Office (FCDO), is expected in India soon to take the trade talks forward. "We should be very optimistic. Things have really accelerated, and we should be very excited," said Barton, who also addressed the forum virtually. "The real opportunity is with the UK's place in the world. We have left the European Union and are in charge of our international trade and commercial policy and changed the way we approach migration to this country," he said. With reference to the sectors of India-UK cooperation, Shringla highlighted the financial markets, people-to-people ties through the new Migration and Mobility Partnership, a first-ever consular dialogue expected soon. "Security and defence cooperation is high on the agenda, including maritime security, cyber security, health partnership, digital health, medical supply chains, alternative health and science and technology," he noted. "We did have a devastating [COVID-19] wave but since then we have done everything we can to insulate against the impact of the COVID pandemic... Today is a landmark for India's vaccination programme, we have crossed a billion doses and that is the greatest insulation we have against the pandemic," he said. With reference to the UK-hosted United Nations COP26 climate summit in Glasgow next month, the Foreign Secretary said India will be participating with a strong message and also expect promises of predictable finance to meet ambitious climate targets. He said: "We are perhaps the only G20 country to have fulfilled our NDCs [Nationally Determined Contributions] and outperformed them. Our Prime Minister has said that India will not only meet its targets but exceed them. And, he has spoken to Prime Minister Boris Johnson. We intend to go in with a strong message, with full commitment to COP26. "In order to meet these ambitious targets, developing countries will need access to climate financing, green technology. We need more than commitments, we need promises - predictable and consistent financing." India Global Forum, being held at the Taj Hotel in London, is a day-long series of dialogues organised by UK-based India Inc. Group with experts across different fields to explore the theme of "quantum leap" in UK-India relations, as laid out by Prime Ministers Narendra Modi and Boris Johnson in the 2030 Roadmap for bilateral ties. "Quantum leap is very relevant when you see what's on the table in the UK-India partnership," said Shringla.
Source: Economic Times
Speaking on the occasion, textile secretary Upendra Prasad Singh said the government is making efforts to address various challenges and facilitate the creation of an “enabling environment” for the growth of the sector. India’s textiles and allied product exports stood at just $30.4 billion in FY21, down 10% from a year before due to the Covid crisis. In the first five months of this fiscal, such exports jumped by 87% on year to $16.6 billion, aided by strong economic recovery in key markets such as the US and the EU. Still, the target remains much too ambitious. The government has set an “aspirational” target of $100 billion for textiles and garment exports over the next five years, the textile ministry said on Thursday. It called on the industry to take advantage of a global market shift where China is pruning its market share in the labour-intensive segment. India’s textiles and allied product exports stood at just $30.4 billion in FY21, down 10% from a year before due to the Covid crisis. In the first five months of this fiscal, such exports jumped by 87% on year to $16.6 billion, aided by strong economic recovery in key markets such as the US and the EU. Still, the target remains much too ambitious. “We will remain committed to ensuring implementation of all development schemes and bring in many more schemes in pursuit of this aspiration,” said Darshana Vikram Jardosh, minister of state for textiles. She was speaking at an international conference on textiles & apparel, organized by industry body CII on Thursday. Earlier this month, the Cabinet approved a scheme to incentivise investments in setting up mega textile parks to build scale in the fragmented sector. It followed a Rs 10,683- crore production-linked incentive scheme for man-made fibre products and technical textiles. Export tax refund schemes like the RoDTEP and RoSCTL have also been launched in recent years to improve the country’s export competitiveness. Speaking on the occasion, textile secretary Upendra Prasad Singh said the government is making efforts to address various challenges and facilitate the creation of an “enabling environment” for the growth of the sector. Kulin Lalbhai, co-chairman of the CII National Committee on Textiles and Apparel and executive director at Arvind, said, “The growing sentiment around ‘China plus one’ sourcing is a golden opportunity for Indian textiles to stage a turnaround and gain back its leadership position as a lead exporting economy.”
Source: Financial Express
Piyush Goyal said forex reserves have constantly grown from USD 433 billion in September 2019 to USD 638 billion in September this year, while FDI inflows in the first four months of the current fiscal rose by 62 per cent, which is higher than the corresponding figure last year. All indicators, including GDP, foreign directinvestment (FDI) inflows and exports growth, are pointing towards a clear and sharp economic recovery in the country, Commerce and Industry Minister Piyush Goyal said on Thursday. He said forex reserves have constantly grown from USD 433 billion in September 2019 to USD 638 billion in September this year, while FDI inflows in the first four months of the current fiscal rose by 62 per cent, which is higher than the corresponding figure last year. "We are encouraged by all the economic indicators as they come out, which point to a very clear and sharp economic recovery. The GDP has grown by a record 20.1 per cent in the first quarter," he said at the India Energy Forum by CERAWeek here. Goyal further said the government has taken several steps to encourage growth and investment in the renewable energy sector with 100 per cent FDI through the automatic route. The minister added that India's renewable energy programme is among the largest in the world and the country has 101 GW renewable energy capacity as on September 30, 2021. "We are aiming towards our initial target of 175 GW by end of 2022," Goyal said, adding India will achieve 40 per cent cumulative electricity capacity from non-fossil fuel-based energy resources by 2030.
Source: Economic Times
“The economy will achieve 10.5% growth if not more in FY’22,” NITI Aayog vice chairman Rajiv Kumar said. “The unevenness in economic recovery is no longer due to consumer deficiency but supply constraints-chips, ships and global TRIPS.” The Indian economy is poised to grow by 10.5% or more in FY’22 despite several supply side constraints on the back of strengthened recovery in the JulySeptember period and jump in exports, NITI Aayog vice chairman Rajiv Kumar said. “The economy will achieve 10.5% growth if not more in FY’22,” he said. “The unevenness in economic recovery is no longer due to consumer deficiency but supply constraints-chips, ships and global TRIPS,” Kumar said while addressing the 8th National Forum of the Public Affairs Forum of India (Pafi). According to Kumar, there has been a strong uptake in PMI for manufacturing and service last month and this will strengthen even more going forward. On chip shortage While chip shortage is indeed a risk factor, dip in sales of two-wheelers is more of a sign of a transition within the industry towards electric scooters. “Entry of large players has disrupted the market. The industry is in a transition phase and this is good as India can emerge as the hub for electric two-wheelers,” he said, reiterating that despite these headwinds India is on a road to double-digit growth for FY’22. On exports Kumar, however, feels that the government has to strongly focus on exports to sustain this rate of growth over FY’23 and FY’24. “While global trade has grown substantially, India’s share in merchandise trade has not grown. We need to focus on doubling our share in global trade for which we need huge market access,” he said. According to Kumar, the focus should be on agri exports and ramping up exports of other labour intensive sectors as it would create jobs. Kumar, however, cautioned that India should not lose sight of services sectors, including health, education and tourism, On Tesla Commenting on Tesla’s long pending demand for lowering of custom duty, Kumar said, “Don’t give us shipped products as it will not create jobs in India. Come and manufacture here and you will get all tax benefits,” he said. On disinvestment and asset monetisation The focus is on implementation as far as asset monetisation is concerned. “I am confident we will achieve the targets because of close monitoring at the highest level,” he said. According to Kumar, most background work has been done on privatisation. “We will achieve the budgeted targets for privatisation as most background work is done and one will see more coming in,” he said, adding the LIC IPO is lined up after Air India as announced by the finance minister. On poverty Kumar is of the view that going forward India needs to focus on infrastructure financing and building real estate as these have a huge multiplier effect. “These sectors will create employment,” he said, adding that the economic environment has been created for sustained recovery of jobs. On private sector participation Through the well laid out national infrastructure pipeline and asset monetisation pipeline, the government has given maximum to the private sector to come forward, Kumar said. “Private sector does not have to be skeptical. It should shed its inhibitions and come forward to work with the government and take the country forward by making development a public movement,” he said. On e-commerce Kumar said that the modernisation of e-commerce is needed and the government will take it forward. “However, all of us have to abide by regulations,” he said. On female labour force participation rate Kumar said he is mystified at the declining of women labour force participation though the 2019-20 Periodic Labour Force Survey points out to a slight uptick in women workforce. “There is no real survey to explain the reasons for a decline,” he said, requesting industry to help the government to understand the drivers of female participation in the labour force.
Source: Economic Times
For the bilateral trade meetings between Government officials of India-Sweden and India-Columbia, Ministry of MSME has invited feedback and suggestions from Micro and Small & Medium Enterprises (MSMEs) related to trade and investment. A range of topics are scheduled to be discussed during the G2G virtual meeting between officials of India and Sweden and Columbia separately. The Ministry is accepting proposals and agenda items to be taken up during the meeting with the Swedish and Columbian counterpart. India is Sweden’s 19th largest export market and third largest trade partner after China and Japan in Asia. The main Swedish exports to India are communication equipment, motor vehicles, paper & pulp products, pharmaceuticals, chemicals and engineering products. The main items of Indian exports are garments, textiles, chemical products, food products, and semi manufactured and manufactured goods. India – Columbian bilateral trade, on the other hand, is around US2 Bn. Indian exports to Colombia comprise mainly motorcycles in CKD form, vehicles (SUVs, pick-ups, threewheelers), cotton yarn and woven fabrics of cotton, pharmaceuticals, organic chemicals and iron & steel items. Indian imports from Colombia include mainly mineral fuel, natural or cultivated pearls, wood & articles of wood, plastic & aluminum, etc. Several Indian companies have presence in Columbia. Besides all major Indian IT companies (TCS, Tech Mahindra, Mahindra, Infosys, etc ) and Pharmaceuticals giants (IPCA, CIPLA, Aurobindo Pharma, Dr. Reddy´s etc), Columbia has become base for Indian auto majors namely TVS, Bajaj, Hero, Royal Enfield, Sonalika and Mahindra. MSMEs are also part of supply chains especially auto sector. Bilateral trade meetings, usually held annually between the two countries, are important platforms to bring to notice the senior officials the difficulties being faced by the business community. Such forums are especially important to get the non-tariff barriers removed.
Source: KNN India
India and South Africa had last year proposed waiver of certain provisions of copyrights, industrial designs, patents and protection of undisclosed information in the Trade-Related aspects of Intellectual Property Rights (TRIPS) agreement for prevention, containment or treatment of Covid-19. It is now sponsored by 64 WTO members. India is hopeful of an early outcome at the World Trade Organization (WTO) on its proposal seeking patent waivers on Covid-related medical products including vaccines, officials said. New Delhi took up the issue with the WTO director general Ngozi Okonjo-Iweala who is on a three-day visit to India ahead of the 12th Ministerial Conference (MC12) of the WTO starting on November 30. India and South Africa had last year proposed waiver of certain provisions of copyrights, industrial designs, patents and protection of undisclosed information in the TradeRelated aspects of Intellectual Property Rights (TRIPS) agreement for prevention, containment or treatment of Covid-19. It is now sponsored by 64 WTO members. Ahead of a key ministerial meeting next month, New Delhi also insisted on a fair and equitable rules-based system to curb harmful fisheries subsidies, especially the ones given by developed countries. These issues came up in Okonjo-Iweala's meeting with commerce and industry minister Piyush Goyal on Thursday. "We raised the TRIPS proposal and are hopeful of early results on that front," said an official aware of the details. "The talks were in continuation of the ongoing agenda. Earlier, India used to raise concerns related to itself but now we want implementable and monitorable targets for the developed countries," the official said, adding that many countries look up to India to speak on their behalf. The WTO DG will meet Prime Minister Narendra Modi, finance minister Nirmala Sitharaman and external affairs minister S Jaishankar on Friday, the last day of her visit. On Thursday, she met industry captains including those from Reliance Industries, Tata Steel and JK Tyre, among others.
Source: Economic Time
In a bid to attract investments to Odisha's textile sector, the state industries department has planned a meeting with representatives from the industry on October 25. Senior officials of the Centre and the state will also attend the meet. The state government has taken this initiative in order to participate in the Prime Minister's Mega Integrated Textile Region and Apparel Parks (PMMITRA) scheme under which seven textile parks across the country will be built in five years to draw foreign direct investment in the sector. A sum of Rs 4,445 crore has already been approved for the scheme. The state would submit a formal proposal, seeking to establish a mega textiles park in the state, after the Centre notifies the scheme, issuing detailed guidelines. "Considering Odisha's huge potential for growth of the textiles industry, the state has listed it as a focus sector," said an industries department official. The state plans to set up two textile parks with common facilities and infrastructure to support the entire value chain and draw investment. Under the PM-MITRA scheme, the Centre has assured to provide a capital support of Rs 500 crore or 30 per cent of the project cost (whichever is highest) to develop common infrastructure in the proposed textiles park.
Source: Times of India
Converting Northeast as an economic hotspot in India’s Act East Policy and utilizing connectivity in uniting rest of theCs in 3Cs, Commerce and Culture can energize ASEANIndia partnership. This was highlighted in the webinar on ASEAN-India: Harnessing Connectivity and Supply Chain Resilience, organized by ASEAN-India Centre (AIC) at Research and Information System for Developing Countries (RIS) run up to coming 18th ASEAN-India Summit. The webinar on the theme of ASEAN-India: Harnessing Connectivity and Supply Chain Resilience was organised by the ASEAN-India Centre (AIC) at RIS under the leadership of Ministry of External Affairs. The event is one of its kinds as a curtain raiser run up to the upcoming 18th ASEAN-India Summit. This year, Brunei Darussalam is the Chair country of ASEAN and the theme of the forthcoming ASEAN Summit is “We Care, We Prepare, We Prosper”. indiatimes.com/news/economy/foreign-trade/converting-northeast-as-economichotspot-can-energise-asean-india-partners… 1/3 Converting Northeast as economic hotspot can energise ASEAN-India partnership Synopsis This was highlighted in the webinar on ASEAN-India: Harnessing Connectivity and Supply Chain Resilience, organized by ASEAN-India Centre (AIC) at Research and Information System for Developing Countries (RIS) run up to coming 18th ASEAN-India Summit. Converting Northeast as an economic hotspot in India’s Act East Policy and utilizing connectivity in uniting rest of theCs in 3Cs, Commerce and Culture can energize ASEAN-India partnership. This was highlighted in the webinar on ASEAN-India: Harnessing Connectivity and Supply Chain Resilience, organized by ASEAN-India Centre (AIC) at Research and Information System for Developing Countries (RIS) run up to coming 18th ASEAN-India Summit. The webinar on the theme of ASEAN-India: Harnessing Connectivity and Supply Chain Resilience was organised by the ASEAN-India Centre (AIC) at RIS under the leadership of Ministry of External Affairs. The event is one of its kinds as a curtain raiser run up to the upcoming 18th ASEAN-India Summit. This year, Brunei Darussalam is the Chair country of ASEAN and the theme of the forthcoming ASEAN Summit is “We Care, We Prepare, We Prosper”. AIC has also taken the opportunity to release its study on “Trilateral Highway and Northeast India” focusing on the extension of the Trilateral Highway (TH)to Cambodia, Lao PDR and Vietnam. The study also highlighted the necessity of enhancing border connectivity in Northeast India for successful implementation of Act East Policy. Improvement of connectivity increases the net economic welfare. Completion of the TH is likely to facilitate faster movement of goods and people between India and ASEAN and add growth impetus to the NER. Therefore, the TH and its extension may promote better quality economic integration and facilitate economic welfare of the people of the ASEANIndia region including the NER and Myanmar. The NER’s value chain potential can be unlocked if the border infrastructure and transportation networks, in particular, are improved. The study has also reviewed the institutional arrangements and identified key elements that may hinder the movement of goods and people across the India–Myanmar border along the Trilateral Highway. Some of these risks and threats include Informal trade, insurgency, ethnic conflicts, non-traditional security threats such as arms smuggling, narcotics and drug trafficking etc. The inaugural session of the webinar was graced by the presence of Alice Cheng, Deputy High Commissioner of Singapore in India, Jayant M. Khobragade, Indian ambassador to ASEAN in Jakarta, Dr Mohan Kumar, Chairman, RIS and Professor Sachin Chaturvedi, Director General, RIS. Cheng emphasized on common heritages, P2P and economic partnership between India and ASEAN. Aviation and maritime connectivity are two other types of connectivity need to be focused on, mentioned. Singapore is the coordinating country for ASEAN-India relationship in the ASEAN secretariat for three years. Reiterating what the previous speakers mentioned about ASEAN-India connectivity projects, Dr Kumar spoke about the central position of ASEAN in India’s Act East Policy. Dr Kumar reiterated how 3C (commerce, culture and connectivity) formula is giving directions to the future of ASEANIndia strategic partnership. Prof. Chaturvedi spoke about the important role the women entrepreneurs from Northeast India have in connecting India and ASEAN. Involvement of women entrepreneurs in economic partnership will enhance the socio-economic profile of the seven sisters of Northeast India as well as Southeast Asia. Both the webinar and the study report have carried immense importance in the present context as ASEAN and India are going to celebrate the 30 years of partnership in 2022. Every year, ASEAN-India Centre organizes run-up events prior to the ASEAN-India Summit as curtain raiser to prioritize our partnership with ASEAN countries. The webinar observations along with the study findings will help India and ASEAN in strengthening the relations further and designing new avenues for cooperation in Indo-Pacific in areas like tourism, education, fintech, healthcare and e-commerce. It also carries important messages for the forthcoming 18th ASEAN-India Summit and 16th East Asia Summit to be held in the fourth week of October 2021. The webinar contributes to the fulfillment of the ASEAN–India Strategic Partnership, based on economic diplomacy among many other issues. The panel discussion, moderated by Dr. Prabir De, Coordinator and Professor at AIC, had eminent speakers including Dr. Venkatachalam Anbumozhi, Director of Research Strategy and Innovation, Economic Research Institute for ASEAN and East Asia (ERIA), Jakarta; So Umezaki, Director, Economic Integration Studies Group, Development Studies Center, Institute of Developing Economies (IDE-JETRO), Chiba, Japan; Bharat Joshi, Director, Associated Container Terminals Limited (ACTL), New Delhi; Prof. Ch. Priyoranjan Singh, Department of Economics, Manipur University, Imphal; Dr Tin Htoo Naing, Director, Center for Economy, Environment and Society (CEES Myanmar) and Secretary, Dawei Special Economic Zone Management Committee, Myanmar; and Dr. Pham Cao Cuong, Acting Deputy Director General, Vietnam Institute for Indian and Southwest Asian Studies (VIISAS), Hanoi. Recommendations include completion of TH and MVA on a fast-track basis. should be done in fast track basis, setting up economic zones along the TH (industrial zone + SEZ+ warehousing zone) in Myanmar, setting up transshipment hub in Myawaddy – Mae Sot cross-border economic zone, careful planning to cater to the environmental risks and challenges and getting Japan as a natural partner in the connectivity projects. Most importantly, converting Northeast as an economic hotspot in India’s Act East Policy is the need of the hour and formation of a ground-level policy-making think tank in Northeast India- says Dr. De from AIC and RIS. Other observations from the webinar highlights why India needs to retrospect the reasons for delayed project implementation between India and ASEAN. Expansion of the bilateral business councils between India and each ASEAN member countries was recommended as anotherway forward to empower the economic tie ups between ASEAN and India. Dr. Anbumozhi recommended developing regional supply chains for solar panels across India and ASEAN countries. Joshi spoke about the Gati Shakti and Sagarmala projects launched by the Government of India in mitigating some of the challenges in connectivity linking India with rest of the region. Prof. Priyoranjan recommended a new border trade agreement between India and Myanmar to incorporate some of the contemporary aspects including the necessities of the informal women border traders across the region.
Source: Economic Times
“For incentivizing manufacturing units to get setup early in PM MITRA, there is a provision of Rs 300 crore per park, wherein the incentive can be provided to manufacturing units up to 3% of the total sales turnover on first come first serve basis,” the ministry said. The government on Thursday notified the scheme to setup seven Prime Minister’s Mega Integrated Textile Region and Apparel (MITRA) parks and said that states having ready availability of contiguous and encumbrance- free land parcel of 1000+ acres will be eligible to apply. In a notification, the textiles ministry said that manufacturing units will get an incentive to setup early in the parks but only those companies would be eligible who don’t avail the benefits under the PLI scheme for textiles. “For incentivizing manufacturing units to get setup early in PM MITRA, there is a provision of Rs 300 crore per park, wherein the incentive can be provided to manufacturing units up to 3% of the total sales turnover on first come first serve basis,” the ministry said. As per the notification, the selection of sites will happen on a challenge method with parameters such as good connectivity, adequate quality power infrastructure, water and waste water disposal system, Industry Friendly labour laws, Single Window Clearances, Stable and Conducive industrial/textile policy of the state. A 2-stage selection process has been put in place. Stage 1 is for preliminary selection of potential sites offered by states wherein expenditure on constitution of Special Purpose Vehicles, planning of the park, and selection of Master Developer would be done. At Stage 2, sites will be ready for release of Grants in Aid for the construction of the park. India plans to set up seven MITRA Parks in Greenfield/Brownfield sites in partnership with the willing states with an outlay of Rs 4,445 crore from FY22 to FY28. The scheme is to develop integrated large scale and modern industrial infrastructure facility for entire value-chain of the textile industry.
Source: Economic Times
Value added textile sector has demanded immediate ban on cotton yarn export and total elimination of Regulatory Duty (RD) on import of raw material, said Mian Kashif Zia Zonal Chairman Pakistan Hosiery Manufacturers & Exporters Association (PHMA). Addressing a joint Press Conference of the value-added textile sector in PHMA, he warned that the textile industry will be forced to close down if the Government failed to resolve our issues on a top priority basis. "It will also render millions of workers jobless", he added. Atif Munir Sheikh, President Faisalabad Chamber of Commerce & Industry (FCCI) said that despite 80percent extra production of cotton, we are facing a cotton shortage of 35- 45percent and to fulfil this gap we have to import cotton. He said that we earn three dollars from the export of one kilogram of cotton yarn but after its value addition we could earn 10-13 dollars from the same quantity of cotton yarn. He demanded that the Government must clamp a ban on export of cotton yarn and trim Regulatory Duty on its import to zero. He said that with the unprecedented increase in the value of the dollar, the export sector is badly hit. He negated this impression that appreciation of the dollar will give benefit to the exporters. He said that we have to depend on 70percent imports for our exports as we are playing at 30-70 percent. He said that the Government is under extreme pressure from the International Monetary Fund (IMF) but it has to take decisions according to the ground realities and in the best interest of the nation. He said that if subsidies on electricity and gas were withdrawn it would inflict a death blow to the textile sector in addition to affecting millions of workers. He said that the value added textile sector is playing a key role in creating new job opportunities to materialize the vision of Prime Minister Imran Khan to provide 10 million jobs. He said that we could not enhance exports if the Government withdrew the subsidy on gas in the months of November and December. He said that we are indebted to the Government who had cleared 275 billion refunds of the last eleven years but we are bound to pressurize the Government to ensure availability of raw material at reasonable rates. Shahzad Azam Khan, Central Chairman PHMA, said that the real estate sector is under the focus of the Government despite the fact that black money has been parked in it. He said that the real economic strength of Pakistan is its well-developed textile sector and the Government must ban yarn export to provide cotton yarn to the domestic textile sector. Waheed Khaliq Ramey, Chairman Power Looms Owners Association said that we will resort to protests and rallies if the Government fails to pay any heed to our genuine demands. Arif Ihsan Malik Central Chairman All Pakistan Bedsheets & Upholstery Manufactures Association (APBUMA), Chaudhary Muhammad Nawaz of All Pakistan Cotton Power Loom Association, Shakeel Ansari of Sizing Association, Shafiq Rafi of All Pakistan Textile Processing Mills Association and Syed Zia Alumdar Hussain also addressed the press conference and thanked media for their cooperation.
Source: Brecorder
Garment exporters urge govt as orders are pouring in Textile and garment makers and exporters yesterday urged the government to quickly simplify the country's export-import procedures as work orders are in a rising trend despite the ongoing coronavirus pandemic. Besides, they aim to expand their operations in a bid to cater to the rising demand. Garment manufacturers sought the simplification of the import of yarn, cotton, industrial raw materials and chemicals through land ports to save time and money. "We requested the commerce minister and the commerce secretary to take immediate actions to resolve the crises as we have a lot of work orders from international retailers and brands," said Faruque Hassan, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA). "We need a lot of raw materials like yarn and fabrics as we are getting a lot of work orders from buyers. It is very difficult to release goods from the ports, especially from land ports and airports, to be used in the industries," he added. The rules of business need to be simplified so that manufacturers can easily import goods and comply with the strict lead-time set by international retailers and brands. This is an opportunity for Bangladesh as international retailers and brands have been coming up with more work orders with the improvement of the pandemic and reopening of economies worldwide, especially in the West, Hassan said. "Usually, such an opportunity does not come for any nation in a time of crisis," he added. For instance, international retailers and brands are now placing a lot of work orders for garments made from man-made fibre. However, local suppliers can only meet about 14 per cent of the demand for man made fibre. As a result, garment makers have to import such fabrics from countries like China. However, importing from China has become difficult now for various reasons. "So, the government should look after this seriously so that the supply chain between Bangladesh and China smoothens," Hassan said. Similarly, spinners have been investing a massive amount of money in the primary textile sector but are also facing a lot of challenges that the government needs to resolve, he added. These comments came during an unofficial meeting hurriedly arranged by the Bangladesh Terry Towel and Linen Manufacturers and Exporters Association with the commerce minister and secretary at the Secretariat in Dhaka. Leaders of the BGMEA, Federation of Bangladesh Chambers of Commerce and Industry, Bangladesh Knitwear Manufacturers and Exporters Association, Bangladesh Textile Mills Association (BTMA) attended the meeting. Apart from the industry leaders, senior officials of the commerce ministry, Bangladesh Bank, National Board of Revenue (NBR), and other other ministries and government agencies also attended. Mohammad Ali Khokon, president of the BTMA, said that apart from investment related challenges, the primary textile sector needs to solve its VAT and sales tax related problems as soon as possible. "NBR officials harass textile millers when paying incentives on export," he said, adding that the tax administration needs to stop harassing businessmen in this regard. Khokon went on to say that the government should also improve the infrastructure before allowing yarn imports through land ports as there is a possibility of evading tax.
Source: The Daily Star
At the end of a dismal 2020 came optimism, courtesy of a newly launched research facility to “stimulate innovation and economic growth in UK textile manufacturing”. The Textiles Circularity Centre (TCC) was the focus of £5.4 million in funding last year and is just one piece of the government’s much broader jigsaw, which will see a total of five state-of-the-art facilities erected across the country in a bid to reduce waste, boost recycling and promote circularity in industries including textiles, chemicals, construction and electronics. “These new research centres will play a vital part in creating a cleaner and more sustainable economy, and help us to better protect the environment for the next generation,” noted Environment Minister Rebecca Pow. “Creating a more circular economy for our waste and resources lies at the heart of this government’s transformative agenda for the environment, and we are committed to going further and faster to reduce, reuse and recycle more of our resources.”
Source: Eco Textile
Sector asked to embrace digital transformation to channelise its potential. Pakistan’s textile industry is lagging behind in adoption of digitisation compared to other sectors which is driving inefficiency and low productivity among units, said Employers’ Federation of Pakistan (EFP) former president Majyd Aziz. Addressing a session on the textile industry on Wednesday, he stressed that the textile sector must embrace digital transformation to channelise its potential. “To be digital or not to be digital is no longer an option,” he said. According to him, some of the reasons hindering digitisation in the textile sector included the nebulous nature of the industry, lack of awareness of digital tools and absence of a proper business environment to enable the digital transformation. He was of the view that modern technologies not only aid the establishment of new business models by responding to changing customers’ needs but also enhance working conditions and production processes. “They ensure better management of hazardous stock, safer working environment, better workforce coordination and improved equipment monitoring,” he said. Aziz directed the garment manufacturers of the Asia-Pacific region to share better practices and display unity despite the intense intra-regional competition and race to grab large chunks of global market share. Citing examples of Association of Southeast Asian Nations (ASEAN) and South Asian Association for Regional Cooperation (SAARC) nations, he emphasised the need to establish a shared platform to promote, protect and project common interests. According to him, it would ensure sustainability, resilience and productivity of the industry. In comments to The Express Tribune, Topline Securities analyst Saad Ziker said that the textile sector, being one of the largest contributors to Pakistan’s economy, needed digital transformation. The textile industry has a low score in the overall spectrum of digital adoption as compared to other industry players, which resulted in less efficiency and productivity in the sector. By adopting digital transformation, the textile industry can witness significant improvements in production and supply chain, he said.
Source: Tribune
