|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1068.85 |
USD/Ton |
-0.71% |
3/27/2016 |
|
VSF |
2100.84 |
USD/Ton |
0% |
3/27/2016 |
|
ASF |
1915.79 |
USD/Ton |
0% |
3/27/2016 |
|
Polyester POY |
1072.69 |
USD/Ton |
0% |
3/27/2016 |
|
Nylon FDY |
2280.51 |
USD/Ton |
0% |
3/27/2016 |
|
40D Spandex |
4530.32 |
USD/Ton |
0% |
3/27/2016 |
|
Nylon DTY |
2518.55 |
USD/Ton |
0% |
3/27/2016 |
|
Viscose Long Filament |
5723.55 |
USD/Ton |
0% |
3/27/2016 |
|
Polyester DTY |
1282.31 |
USD/Ton |
0% |
3/27/2016 |
|
Nylon POY |
2103.91 |
USD/Ton |
0% |
3/27/2016 |
|
Acrylic Top 3D |
2100.07 |
USD/Ton |
0% |
3/27/2016 |
|
Polyester FDY |
1167.13 |
USD/Ton |
0% |
3/27/2016 |
|
30S Spun Rayon Yarn |
2856.40 |
USD/Ton |
0% |
3/27/2016 |
|
32S Polyester Yarn |
1750.70 |
USD/Ton |
0% |
3/27/2016 |
|
45S T/C Yarn |
2457.12 |
USD/Ton |
0% |
3/27/2016 |
|
45S Polyester Yarn |
1858.20 |
USD/Ton |
0% |
3/27/2016 |
|
T/C Yarn 65/35 32S |
2119.27 |
USD/Ton |
0% |
3/27/2016 |
|
40S Rayon Yarn |
2994.62 |
USD/Ton |
0% |
3/27/2016 |
|
T/R Yarn 65/35 32S |
2457.12 |
USD/Ton |
0% |
3/27/2016 |
|
10S Denim Fabric |
1.07 |
USD/Meter |
0% |
3/27/2016 |
|
32S Twill Fabric |
0.90 |
USD/Meter |
0% |
3/27/2016 |
|
40S Combed Poplin |
0.98 |
USD/Meter |
0% |
3/27/2016 |
|
30S Rayon Fabric |
0.72 |
USD/Meter |
0% |
3/27/2016 |
|
45S T/C Fabric |
0.74 |
USD/Meter |
0% |
3/27/2016 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.15357USD dtd 27/03/2016)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Karnataka state government in its recently presented budget has allocated Rs 300 core for development and setting up of Textile Parks across the state. However, at the recent Invest Karnataka meet, investors have come forward to invest over Rs 1,000 crore. R Raju, department of handlooms and textile commissioner, speaking after inaugurating Special Handloom Expo Samskruthi-2016 at JSS Urban Haat a one-stop shop for handloom products organized by the ministry of textiles, government of India, and Karnataka State Cooperative Hand Weavers' Mahamandali, said that for the development of textile parks across the state, 2,600 acres of land has been identified. They have already identified 100 acre of land at Tandavapura Industrial area to set up the Textile Park in Tandavapura. In Mysuru and Chamarajanagar, where Textile Parks are also proposed, they have identified land. He further mentioned that for the benefit of the weavers, the government had introduced textile policy from 2013-2018. This includes Rs 10,000 crore investment in five years and generates employment to 5 lakh people. In the state, 80,000 handlooms and 1.5 lakh power looms are active, and the department has managed to give training to over 26,000 people. At the JSS Urban Haat expo, there are around 140 national and international renowned artistes participating. They are displaying their products, including summer ware and cloth materials from different states. The expo, which will run till April 7 from 10am to 9.30pm. Entry is free for public.
SOURCE: Yarns&Fibers
In recent years, the sustained rise in production costs on the Chinese mainland has eroded the profit margins of many Hong Kong companies with labour-intensive factories located on the Chinese mainland, prompting them to seek alternative production bases elsewhere. India is rising as a new choice of relocating labour-intensive industries from China and also as a retail market of good potential, according to reasearch report by The Hong Kong Trade Development Council (HKTDC). Hong Kong as the gateway for Indian companies to the Chinese markets, the HKTDC is promoting India as an alternative manufacturing base for its industries based in China.
According to HKTDC reports, while Southeast Asian countries offer many options, India offers many advantages as an alternative production base, along with the added advantage of having a domestic market of great potential. India was the world's second biggest exporter of textile and garment products in 2014, shipping goods worth $36 billion, behind China's exports worth a whopping $399 billion. The report also cites the lower import tariff levied on Indian goods by the US and the European Union (EU). India has been an active player in Asia, securing free trade agreements (FTAs) inside and outside the region. India has also been in talks on an FTA with the EU.
Despite this, many big Indian exporters have successfully lined up with international buyers, including department stores, retail chains and brands. With advantages of raw materials and prospects of vertical integration, India is a strong garment exporting country and a location worth considering for factory relocation in relation to labour-intensive manufacturing, such as garment-making. Further, US import tariff rates for Indian yarn-related products range between zero percent and 2.7 percent. The weighted average import tariff rates of the EU and US on non-agricultural products from India are 4.5 percent and 2.5 percent, respectively. The report pointed out that while China is the undisputed world leader in exporting textiles and garment products, many have overlooked India’s position as the world’s second biggest exporter of textile and garment products in 2014, selling a total of $36 billion, during the year, far behind China’s $399 billion. India stands out to be a substantial exporter in both garments and textiles. For textile exports alone, India was second after China in 2014, with a share of 5.8 per cent of the global market, compared to China’s enormous 35.6 per cent share.
SOURCE: Global textiles
Worried about exports falling two years in a row, Commerce and Industry Minister Nirmala Sitharaman will hold a meeting with export bodies, including export promotion councils, next week to assess the situation and see if there is a need for further government intervention. “The meeting with exporters has been tentatively scheduled for April 5. The Minister wants to meet representatives from all important sectors to get their assessment of the global situation and see if the government can do anything to improve the situation,” a Ministry official said. This is the first interaction that Sitharaman has scheduled with exporters after the Union Budget, which did not come up with anything specific for the sector. Over the past few months, exporters have sought a number of measures, such as extension of the Merchandise Export from India Scheme to more items, countries and also merchant exporters from identified sectors. Those importing capital goods at reduced import duties under the Export Promotion Capital Goods Scheme have asked for a longer time period to meet their export obligation under the scheme due to falling exports. “All such demands will be examined in the meeting,” the official said. Exports in the current fiscal will be around $260 billion, according to estimates made by exporters’ body FIEO. This is about $50 billion short of exports worth $310 billion in 2014-15 and $314 billion in 2013-14. Interestingly, fall in exports is not just spread across products such as engineering goods, agricultural produce, petroleum products and leather goods, but also across regions. In the first 10 months of the current fiscal, India’s exports to Europe and the US fell by nearly 12 per cent, Africa by 26 per cent, Asia by 19 per cent and CIS & Baltics by 32 per cent.
SOURCE: The Hindu Business Line
India has recently ratified the Trade Facilitation Agreement of the WTO, concluded at its Bali Ministerial Conference in December 2013. Already consented to by 70 countries till March 1, 2016, it will enter into force once two-thirds of the WTO members ratify it. This agreement only deals with goods trade and provides for expediting the movement, release and clearance of goods, including goods in transit but not of services. Facilitating services exports and imports is not yet discussed in the WTO, in spite of the important role played by services in international trade. India must put forward a progressive agenda for promoting global trade in services.
Services constitute an important component of the country’s domestic economy as well as of its international trade, contributing more than 60% to GDP and around 33% to total exports. India’s exports in services remain concentrated in IT/ITeS sectors, which contribute more than one-third to the country’s services exports. Trade potential in other services—such as professional services, health including nursing and paramedical—is not yet fully realised by India owing to policy and capacity constraints at domestic level as well as restrictions imposed by major importing countries. To realise this untapped potential, India should advance multilateral negotiations on trade facilitation in services in order to remove these restrictions. This is also important given the recent signing of the Trans-Pacific Partnership (TPP) and significant advancement in Trade in Services Agreement (TiSA) negotiations. Multilateral negotiations will help in minimising possible trade diversion effects of these mega deals. In fact, important WTO members who are not yet part of TiSA are likely to welcome India’s initiative.
India’s proposal on trade facilitation in services could focus on border and behind the border restrictions affecting India’s services exports. However, the country should not focus only on visa-related (mode 4 in services trade terminology) demands—such as visa fee, processing time and multiple entry—in its proposal, rather it should equally emphasise on issues such as data security and qualification recognition for online supply of services (mode 1), transparent and time-bound approval process for commercial establishment (mode 3) and non-discriminatory treatment to its service providers. India could also borrow from the Canadian submission in the WTO on ‘Improved transparency of mode 4 commitments’ that aims at better assessment of the actual liberalisation value of services commitments. So far, India’s demands in multilateral and bilateral trade negotiations remained primarily for facilitating its professionals’ movements, which over time have become more of a stumbling block, taking negotiations nowhere.
Given political sensitivities associated with foreign labour movement, India has to move beyond such demands in its trade negotiations. Ironically, India has not been able to fully utilise such preferences in its existing services FTAs with Singapore, Korea, Japan and Malaysia. Another important area for services trade facilitation is the removal of discriminatory requirements (economic needs test) for foreign service providers, such as allowing hiring of a foreign professional only if domestic expertise is not available. As identified in the MERCOSUR proposal before the WTO, such tests constitute one of the most important market access and national treatment barriers, and affect a wide range of services. The restrictive effects are further compounded by the fact that the criteria for their application are generally vague or non-existent, thereby allowing discretion in their administration and undermining the certainty and predictability of market access and national treatment commitments.
Applying domestic regulations in an objective and transparent manner should also be included in this proposal. The WTO allows member countries to impose domestic regulations (prudential regulations) for public policy objectives. However, the line between prudential and trade protectionist regulations is thin and blurred, and hence most developed countries use domestic regulations in a disguised way to protect their markets. This is also evident from the fact that both TPP and TiSA, and trade initiatives led by the US and other developed countries do not have any specific provisions to prevent misuse of domestic regulations, as against mandatory provisions on market access and national treatment related issues. The proposal should not only include cross-cutting disciplines on domestic regulation, but also sectoral disciplines in order to capture sector-specific realities. At the same time, India should be alert to oppose cherry-picking by developed countries to focus only on transparency issues, as attempted in October 2015 just before the Nairobi Ministerial.
India’s strategy in trade negotiations has so far been generally reactive. Instead of being reactive, the country should have a forward-looking agenda for services liberalisation on its own and table its proposal on trade facilitation in services in the WTO. India should also make efforts to sensitise other countries on services facilitation issues to make a coalition of like-minded countries. Trade facilitation in services will act as a bargaining chip for India in future negotiations and will help protect the country’s trade interests.
SOURCE: The Financial Express
A group of influential American lawmakers have introduced a legislation asking the Obama administration to help India join the APEC forum, saying an economically prosperous India benefits the US' strategic goals in Asia. "Membership in APEC (Asia Pacific Economic Cooperation) would provide India a constructive forum to glean insight from other Asian countries that have already taken significant steps to advance their economies," Chairman of the House Subcommittee on Asia and the Pacific Matt Salmon, who introduced the legislation in the US Congress, said. "Indian Prime Minister (Narendra) Modi is striving for major economic reforms to open India's markets, improve trade volume, and facilitate his growing population's need for continued job growth," he said yesterday.
Salmon is joined by Congressman Ami Bera, the only Indian American lawmaker in the current Congress, CoChair Congressional Caucus on India and IndianAmericans; Ed Royce, Chairman of House Foreign Affairs Committee; Elliot Engel, Brad Sherman, George Holding, Derek Kilmer, Dana Rohrabacher and Scott DesJarlais. Bera said that India is one of the world's largest and fastest growing economies. "An economically prosperous and regionally engaged India benefits the US' strategic goals on Asia," Bera said. The legislation notes that the USIndia partnership is vital to the US strategic interests in the AsiaPacific region and across the globe, and is an integral aspect to the Administration's Rebalance to Asia.
Observing that India enjoys a location within the Asia Pacific region which provides an avenue for continued trade and investment partnerships with APEC member states, the legislation asks Secretary of State John Kerry to develop a strategy to obtain membership status for India in APEC, including participation in related meetings, working groups, activities and mechanisms. It directs the Secretary of State to actively ask APEC member states to support such membership status for India and submit a report to the Congress within two months of the passage of this legislation. Singaporeheadquartered Asia Pacific Economic Cooperation (APEC) is a forum for 21 economies to promote free trade throughout the AsiaPacific region. The members are Australia, Brunei Darussalam, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Taiwan, Thailand, the US and Vietnam.
SOURCE: The Economic Times
The Department of Industrial Policy and Promotion (DIPP) will soon have a portal up and running, where states will update their progress on a set of 340 development parameters on a real-time basis, in a move aimed at promoting competition to improve the ease of doing business. The ranking will be done based on the report card of the states. This year, DIPP has circulated the criteria among all the states. Last year, the World Bank ranked the states on 98 such parameters. "Work is in progress and by April 1, we should be able to start the portal," a senior DIPP official said. States, he said, will regularly update the progress on those parameters and DIPP would validate those improvements. "Stakeholders, including companies or individuals, can also give feedback on the portal about the improvements made by states on each of those parameters," he said, adding that the move would help in generating healthy competition among states to boost ease of doing business. Gujarat led the pack last year while Andhra Pradesh and Jharkhand came in at second and third positions, respectively. The parameters include time taken in giving power connections to manufacturing units, number of hours power is being supplied, land banks' availability for industrial use, digitised land records at local municipality offices and provision for e-filing for commercial disputes at district courts, among others. The whole exercise is aimed at improving India's investment climate and its ranking in the World Bank's report.
India is currently ranked 130th among 189 nations in the World Bank's Ease of Doing Business 2016 study. With the exception of three specifications (getting credit, protecting minority investors and getting electricity), India does not feature in the top 100 in the 10 parameters of the World Bank. The government is looking to bring India's ranking within top 50.
SOURCE: The Business Standard
Can trade bring India and Pakistan closer? Even as a five member Joint Investigation Team (JIT) from Pakistan reached India on Sunday to carry out a probe into the attack at the IAF base at Pathankot, traders from the two border cities -Amritsar and Lahore, across the border in the Eastern and Western Punjab, of India and Pakistan, make frantic efforts to augment trade ties through "Wagah-Attari" border. "Businesses can bring both nations together once again,' says Kirat Singh - an exporter of perishable vegetables on the Amritsar -Wagah road. "Once thriving business towns, these cities had to suffer a lot with the closure of trade route. Industry also shunned border towns, as tensions mounted to new levels between two nations in the past, "Singh adds. It was in 2012, Former Home Minister P Chidambaram inaugurated the Integrated Check
Post at Wagah. Encouraged by the development, Akail led Punjab Government has sought, Union Government to take credible steps to open 'Fazilka' and 'Ferozepur' borders, on the lines of 'WagahAttari'. Nearly 6,000 items can now be imported into Pakistan from India as against less than 2,000 items earlier. If, 'Chamber of Commerce & Industry' from the cities of Rawal Pindi, Gujrat and Gujranwala in Pakistan are pressing the Pakistan Government to reduce the sensitive items list numbering 1100 products for exportimport, by more than half in coming times, back home, the Indian traders are lobbying to enhance the list of items for export/import from 800 to 10,000. However, Terror attacks at Pathankot played a spoilsport to their expectations.
Notwithstanding, 22 per cent consumer population, regional trade between South Asian Association of Regional Cooperation (SAARC) nations is less than 4.5 percent. Sample this: Regional trade among North American countries is 63 per cent. In European Union, trade within countries stands at 51 per cent. Trade within ASEAN countries is 31 per cent. In Central Africa it is 11 per cent. In case of SAARC region, regional trade of 4.5 per cent, is weakest in the world. "This is despite the fact that our cultures, manners are same, "Prof. Surinder Shukla, a political scientist at Panjab University says. "To curb third party trade, both India and Pakistan should come up with a policy for opening the borders for trade and commerce", R S Sachdeva, Chairman, Punjab State Council, PHD Chamber says.
Exporters also call for liberalization of visa regime, which politicians feel is a distant dream. Rawalpindi Chamber of Commerce & Industry Chairman Khurshid Barlas says "There should be no requirement of visa for Pakistan and Indian traders. This would pave way for mutual cooperation and unprecedented growth in bilateral trade." Informal trade between India and Pakistan via third countries like the United Arab Emirates (mainly Dubai), Singapore and Hong Kong is estimated at five to seven billion dollars. Legalisation of trade is expected to reduce costs and increase government revenue by collecting duties on imports, feel experts. ASSOCHAM Director (North) Dalip Sharma says, "There should be more openings of trade routes with Pakistan. For instance from Hussainiwala border. This can boost the trade of all the Norther states and not just Punjab.'
SOURCE: The Economic Times
Jaitley will meet top Australian leaders and investors next week in a bid to woo the country's cashrich sovereign funds for foreign investments in India. Indian High Commissioner Navdeep Suri said that during his fourday visit, the Minister will meet New South Wales Premier Mike Baird, Foreign Minister Julie Bishop, Treasurer Scott Morrison, Finance Minister Mathias Corman and Energy and Resources Minister Josh Frydenberg. Suri said that Jaitley might also call on Australian Prime Minister Malcolm Turnbull.
Describing Jaitley's schedule as 'a packed and productive one', Suri said: "The visit gives us the opportunity to engage with Australia at multiple levels." He added that the engagements would cover a wide range of sectors including manufacturing, technology, service, financial and superannuation funds, and the Finance Minister will meet business leaders from the different sectors. "Australia has a major sovereign fund called the Future Fund and it also has superannuation funds that have estimated assets of over USD 2 trillion. These funds want a good rate of return and we believe that the India growth story creates a winwin proposition decent returns for the funds and financing for India's infrastructure plans," Suri told PTI.
Jaitley is arriving in Sydney on March 29 and will be accompanied by highpowered Indian business delegations from both CII and FICCI besides a top level team including senior representatives from the Ministry of Finance, RBI and SEBI while those with business will try to focus on the Make in India and Invest in India programmes," he said. Jaitley would woo Australia's trillion dollars superannuation funds industry to invest in India's infrastructure plans. He will meet top 25 CEOs and executives of Australia's largest superannuation funds at the 'Invest in India Roundtable' here next Friday. Suri said the roundtable would be a key element of the minister's visit. "We estimate that between them (top CEOs and executives), they would be representing close to USD 1 trillion of assets under one roof. And that's in addition to the highlevel FICCI delegation. We want to use the opportunity to project India as an investment destination to the superannuation funds and also respond to any issues or concerns that they may have,"he said. Jaitley will deliver a public address at the S P Jain School of Global Management in Sydney, which will be his first official engagement. He would also deliver the K R Narayanan Oration in Canberra at Australian National University on 'The New Economics of Financial Inclusion' and participate in a panel discussion at the University of Melbourne. In Canberra, Jaitley would address the Indian community from all across Australia at a special reception organised by the Indian High Commission.
SOURCE: The Economic Times
Comparing diversity issues in India and the European Union, Niti Aayog Vice Chairman Arvind Panagariya today said the world’s largest democracy is better placed as a cohesive unit than EU and is bound to see high growth rates in the coming decades. Replying to a question on India often being called a “noisy democracy” at an industry body CII event here, the noted economist said India despite its huge diversity and varied traditions and cultures, has stayed as a single cohesive unit. Quoting economist Jagdish Bhagwati, Panagariya said that Bhagwati told Singapore’s first Prime Minister Lee Kuan Yew, in response to his comment on India being a noisy democracy, that “You hear the noise, I hear the music”. “This says it all. Just think about it, Europeans, with far less diversity than India, today are still struggling to become a single state. The whole movement towards a single Europe is ridden with so many difficulties. “Even as a single monetary union there are fears that Greece might drop out of this union and tomorrow Spain might drop out of this union,” he said. He added that quite contrary to that, with much greater diversity in India, the country has stayed as a single nation. “And not only have we stayed together, but the nation has grown over time. Because in today’s noise we tend to forget that in 1950s and 1960s when you go back there were so many separatist movements based on language, etc,” he noted.
On the way ahead, he said: “So I see it as a huge success of India’s democracy. I think I will not have it any other way. In the long run we will see our growth rate in the next 15-30 years return to the rate of 8-10 per cent.” On steps India needs to take to make its growth more inclusive, Panagariya said India’s nature of growth has been different. In earlier success stories of Singapore, Taiwan, South Korea and China, most recently, growth happened through rapid growth of labour-intensive industry, which created a lot of jobs and then that was led by growth in services sector. “What we need to do is make the ecosystem better for the labour-intensive industry so that our industrialists can see what can be done through people and what can be done through machines…,” he added. Panagariya stressed that the thrust should not just be on increasing the use of machines, but for the industry to find the right mix so that the growth can be evenly spread. On India’s growth potential, he said the scope is “enormous”.
SOURCE: The Financial Express
Japan wants India to abolish 80% of tariff lines for imports of Japanese goods under the 16-nation Regional Comprehensive Economic Partnership (RCEP) negotiations, as the world’s third-largest economy seeks reciprocity in removing tariff barriers in trade between the two nations, according to sources privy to the discussions. India, however, seems willing to end 65% tariff lines for Japan, while the latter is learnt to have offered to end 80% of its tariff lines should India return the favour in equal terms, the sources told FE. The scrapping of tariff lines means import duties on specified items would be cut to zero over a mutually agreed-upon time frame. “Japan wants India to offer it the same concessions the latter is extending to Asean members, which means 80% of tariff lines should be removed for Japanese goods,” one of the sources said. If New Delhi agrees to Japan’s proposal, it would indeed amount to a broadening of the scope of RCEP as demands and offers between other potential partners have been less ambitious. However, some analysts say even if India doesn’t sweeten its offer further, it’s still more attractive than Japan’s, mainly due to the fact that Japan’s goods exports to India are almost double of India’s to that country. In 2014-15, India’s merchandise exports to Japan stood at only $5.4 billion, while Japan’s exports to India touched an impressive $10.1 billion. Officials at the Japanese embassy in New Delhi couldn’t be contacted immediately for comments. Mineral fuels, oil products, certain organic chemicals and marine products are the major items that India has exported to Japan this fiscal, while its imports from Japan include electrical machinery, electronic items and mechanical appliances. A final call on products on which India is willing to remove import duties is yet to be taken.
India is learnt to have offered to abolish 80% of tariff lines for 10 Asean members, 65% of which will be scrapped once a deal is clinched and the rest will be cut over 10 years. Asean nations are expected to submit their offers by the end of this month. The next round RCEP negotiations will take place in Perth in Australia from April 22. For Japan and South Korea, India is willing to abolish 65% of tariff lines, while it wants them to end 80% of their tariff lines for Indian goods. For China, Australia and New Zealand, India is offering to remove tariff lines to the tune of 42.5%, 80% and 65%, respectively, while China is willing to scrap the equivalent amount of tariff lines for India. Interestingly, China is seeking greater commitment in terms of tariff removals for its goods from some other countries in the grouping, arguing that the economies of such nations like Japan are in more advanced stages of development than that of the communist nation itself. However, it hasn’t applied the same logic so far for its commitment towards India under the RCEP.
Sources also added that to expedite RCEP negotiations, which have already missed the 2015 deadline for conclusion, members have agreed to hold talks in every two or three months. RCEP negotiations started in May 2013 and so far 11 rounds of talks have taken place. According to an initial assessment made in 2013, RCEP nations included more than 3 billion people, have a combined GDP of about $17 trillion, and make up for roughly 40% of global trade. Pressure is mounting on the grouping to clinch a deal following the Trans-Pacific Partnership between the US and 11 other countries.
SOURCE: The Financial Express
At a workshop held by the World Bank (WB) and the Vietnam Chamber of Commerce and Industry (VCCI), Truong Van Cam, deputy secretary general of the Vietnam Textile and Apparel Association (Vitas) said that many textile and garment companies due to the state’s unstable policies are leaving the market. According to analyst, the government seems to be too optimistic about opportunities to be brought to the textile and garment sector by TPP. In 2015, Vietnam exported $27 billion worth of textile and garment products, 60 percent of which went to TPP member countries. However, foreign invested enterprises (FIEs) pocketed most of the money. With the TPP’s strict requirements on origin of products, Vietnam would not be able to get benefits from TPP. Vietnam imports 10 percent of yarn and 5.3 percent of cloth from TPP countries. This means that it imports most of materials needed from non-TPP countries. Meanwhile, the products with non-TPP origin won’t be able to enjoy preferential tariffs. Vietnam now has 6,000 textile & garment companies, of which garment companies account for 70 percent. Of the number, only 17 percent are textile enterprises, 6 percent spinning, 4 percent dying enterprises and 3 percent makers of input materials and accessories.
Seventy percent of enterprises now make products under the mode of cutting – assembling – trimming. This means that Vietnamese are proficient in the last phases of the production chain, but less so in dyeing and weaving. Pham Xuan Hong, chair of the HCMC Textile, Garment, Knitting and Embroidery Association, said that the profits earned by Vietnamese enterprises are modest because they mostly do outsourcing for foreign partners, while 60-70 percent of materials needed are imports, mostly from China. The State’s policies need to be designed in a way to encourage investors to do business and stay in the market.
SOURC: Yarns&Fibers
Owing to the potential advantage enjoyed by Vietnam in the Trans-Pacific Partnership (TPP) pact, foreign direct investments (FDI) are pouring into the country's textile and garment sector on a large scale from countries like the US, China and others, according to media reports. The FDI inflow into Vietnam's textile and garment manufacturing sector reached $2 billion by the end of 2015, a record number till date, according to the Vietnam Textile Association (VITAS). Vietnam has seen a large inflow of investments from US companies like Huntsman Group, Avery Dennison, etc in recent years. Textile and garment manufacturers in the country manufacture for the US brands like North Face, Adidas, Nike, etc. Chinese textile and garment investors have also been active in investing in Vietnam to benefit from the 'yarn forward rule' in TPP, cheap labour and natural resources. The country ranked third in terms of FDI to Vietnam in January 2016. Japanese companies Kuraray Trading, Itochu, Toray Industries and Shikibo have been investing in setting up production units in Vietnam. Many big foreign-invested projects were licensed in 2015. Other countries like South Korea and Taiwan are also investing in the country to reap the fruits of TPP. Last year, Vietnam received approximately $25 billion FDI, which represented a rise of around 13 per cent year-on-year. A continuous flow of FDI into the country is expected in 2016, and the textile and garment and related industries are expected to bag a large chunk of the pie.
SOURCE: Fibre2fashion
Two technological conferences themed 'German Technology meets Vietnamese Textile' are planned to be held on July 5 in Hanoi and July 7 in Ho Chi Minh City in Vietnam. The events have been organised by the VDMA Textile Machinery Association, with support of Vietnam Textile & Apparel Association (VITAS), China Textile & Apparel and Becker Travel Co. Ltd. Vietnam. According to a VDMA press release, experts from 22 VDMA member companies will present technology topics covering the spinning, knitting, weaving, nonwovens, dyeing and finishing sectors. “Vietnamese textile manufacturers aiming for new products, improved quality of yarns and fabrics and enhanced competitiveness have the chance to learn more about the latest solutions,” the press release added. The companies participating in these events include; Andritz Asselin-Thibeau, Brückner, Erhardt+Leimer, Fong's Europe, Groz-Beckert, Has Group, Heusch, Mahlo, Mayer & Cie and Karl Mayer. Other companies include Memminger-Iro, A. Monforts, Oerlikon Barmag, Reiners+Fürst, Reseda Binder, Saurer Accotex, Saurer Texparts, Setex, Textechno, Thies, Trützschler, Welker Spintech and Xetma Vollenweider. The organisers have also arranged B2B matchmaking events, which could either be pre-arranged or spontaneous in a separate meeting area including a table-top exhibition. “Starting from end of March 2016, interested decision makers from textile manufacturers in Vietnam are welcome to register and arrange meetings with German companies and their agents,” VDMA stated. Additionally, a seminar will also be organised on July 8 at the Department of Textile - Garment Engineering, HCM City which will focus on advanced textile and textile technology.
SOURCE: Fibre2fashion
New Trade Policy has ignored the vital Textile Sector and failed to integrate and solidity the weak export potential sectors in the name of diversification. This was stated by Pakistan Yarn Merchants Association Sheikh Muhammad Qasim talking to newsmen here today. He said that the Trade Policy announced by Commerce Minister does not mention any measure to stem the dwindling exports of the Country over the last two years and provides no incentive to Textile Exporters. The value added textile sector which is the major export earning sector of economy is still confronted with the problems of energy shortage. There has been no respite in load shedding of Electricity or Gas for this sector. No incentive or reduction in cost of production has been given. Resultantly the Textile Exports have become uncompetitive compared to regional rival countries. He said the Trade Policy should have strengthened the Textile Exports Sector as well and diversification should have been both of products and destination he drew the attention of the Commerce Minister towards the major problems confronting the Textile Exporters. Liquidity was the biggest hurdles in expansion of exports as millions of capital of exporters were blocked in refund raging he said. Similarly cost of production, energy crises as well as raw material and overhead expenses rendered the Pakistani Exporters unable to compete. He urged upon the Government to devise policy to promote all sectors appropriately to bear themselves up for exports.
SOURCE: The Business Recorder
The textile exports declined by 5 percent to $1.02 billion, whereas the value added shipments declined by 9 percent to $597 million in Feb 2016. However, the basic segment witnessed a 3 percent uptick to $293 million. Within the value added segment, the dollar amount netted by Knitwear and Readymade Garment fell by 16 percent and 10 percent MoM, respectively. Although average realised prices remained stable around Dec 2015, volumes slipped by 16 percent and 11 percent for Knitwear and Readymade Garments, respectively, as the winter demand spike tapered off. Basic textiles inched up by 3 percent MoM, as Yarn exports recovered 20 percent MoM to $106m (off-take improved 22 percent, while the average prices dipped by 2 percent). However, on a YoY basis, yarn exports plunged by 38 percent during Feb 2016. Local supply-side factors coupled with international demand-side factors took a toll on textile exports.
Shrinking Pakistan’s cotton harvest (down 34 percent YoY) and Chinese manufacturing slowdown along with EU-side turmoil has also affected the textile exports. Furthermore, disproportional PKR/USD depreciation versus regional currencies has also made our textile products less competitive. Recent approval of STPF (2015-18), reduction in industrial electricity tariff, commencement of LNG import, and zero rating of textile exports along with further rupees depreciation would bode well for the industry, as the incumbent government seems focused on improving Pakistan’s exports and domestic manufacturing.
SOURCE: The Nation
Japanese investors have expressed interest in producing textiles for medical use in Thailand and making the country a regional hub for innovative garments and medical equipment, says the National Federation of Thai Textile Industries. Federation chairman Somsak Srisuponvanit said Japanese textile companies using high technology would seek local partners to invest in the production of special garments and textiles for medical use. "The government is promoting a new investment policy under the concept of clusters, expecting to bring Thai industries to the next level, focused on added value," Mr Somsak said. "Thai textiles and garments also have strong potential to grow and add higher value."
With new investment in innovation, garment and textile businesses could shift to valueadded textiles such as disinfected bed sheets for hospitals and scrubs for personnel, he said. Mr Somsak said he had discussed the idea with Japan's Ministry of Economy, Trade and Industry and various Japanese companies. The federation sees an opportunity for the garment and textile industry to take the next step into hightech garments, he said. He said the textile and garment industry needs to shift away from the lower market where competition has intensified with countries that have the advantage of low labour costs, such as Bangladesh, Vietnam, Myanmar, Cambodia and Laos.
Switching to innovative products would help the garment industry enter the upper market with fewer competitors and higher added value, he said. Apart from elevating the market, Thailand is also working with Sri Lanka on business matching to create new investment in the sector. Sri Lanka's government recently brought 25 garment companies to meet 60 Thai counterparts in order to create investment. The Sri Lankan investors are seeking Thai partners to help expand their business in the country as they see strong potential for Thailand to be the centre of Asean, where demand is seeing significant growth. Mr Somsak said he expects the value of garment exports to grow 10% this year to US$8.6 billion.
SOURCE: The Bangkok Post
The two countries Pakistan and Romania have prospects in different trade and investment sectors, main ones are agriculture, textile, information technology, energy, engineering and construction. Khalid Tawab, Sr. Vice President, FPCCI Khalid Tawab, Senior Vice President FPCCI stressed the need for strengthening trade and economic relations between Pakistan and Romania. The Senior Vice President FPCCI expressed his sentiment in a meeting with Ambassador of Romania H.E. Emilian Ion who visited FPCCI along with Tariq Saud Honorary Consul General of Romania in Pakistan. Exchange of trade delegation and participation in exhibitions will bring closer the private sector of Pakistan and Romania will enhance bilateral trade and economic relations. Pakistan’s major exports to Romania are cotton, manmade staple fibre, textile articles, worn clothing, raw hides and skin, articles of leather, travel goods, footwear, oil seed, fruits, grain, seed and fruits, etc. While, Pakistan’s major imports are wood and articles of wood, wood charcoal, mineral fuels, oils and articles of iron or steel besides machinery, organic chemicals, electrical products, pharmaceutical products, articles of rubber and furniture etc. from Romania.
Romania is the seventh largest European Union Market, adding that it would provide support to Pakistani entrepreneurs to get the benefit of exporting their products to the European Union countries However, the current volume of trade of US$193 million does not reflect current potential between the two countries. Pakistan-Romania Business Council was working as a bridge between business communities of both the countries for exploring new avenues of commercial and economic cooperation.
SOURCE: Yarns&Fibers
Thai textiles and garments have strong potential to grow and add higher value hence the government is promoting a new investment policy under the concept of clusters, expecting to bring Thai industries to the next level, focused on added value, said Mr. Somsak Srisuponvanit, Chairman of the National Federation of Thai Textile Industries. Japanese investors have expressed interest in producing textiles for medical use in Thailand and making the country a regional hub for innovative garments and medical equipment, said Mr. Somsak. Japanese textile companies using high technology would seek local partners to invest in the production of special garments and textiles for medical use.
With new investment in innovation, garment and textile businesses could shift to value-added textiles such as disinfected bed sheets for hospitals and scrubs for personnel. Mr Somsak said that he had discussed the idea with Japan's Ministry of Economy, Trade and Industry and various Japanese companies. The federation sees an opportunity for the garment and textile industry to take the next step into high-tech garments. As the textile and garment industry needs to shift away from the lower market where competition has intensified with countries that have the advantage of low labour costs, such as Bangladesh, Vietnam, Myanmar, Cambodia and Laos.
Apart from elevating the market, Thailand is also working with Sri Lanka on business matching to create new investment in the sector. Sri Lanka's government recently brought 25 garment companies to meet 60 Thai counterparts in order to create investment. The Sri Lankan investors are seeking Thai partners to help expand their business in the country as they see strong potential for Thailand to be the centre of Asean, where demand is seeing significant growth. This year the value of garment exports is expected to grow by atleast 10 percent to US$8.6 billion, according to the federation. Also switching to innovative products would help the Thai garment industry enter the upper market with fewer competitors and higher added value.
SOURCE: Yarns&Fibers
Researcher from RMIT University in Australia, including one of Indian origin, have designed a low cost technology by which textile can spontaneously clean themselves of stains and grime simply in less than six minutes by being put under a light bulb or worn out in the Sun. The new technology is developed with a cheap and efficient way to grow special nanostructures – which can degrade organic matter when brought into contact with light – directly onto textiles. The process developed by the team has a variety of applications for catalysis-based industries such as agrochemicals, pharmaceuticals and natural products, and could be easily scaled up to industrial levels.
Rajesh Ramanathan from RMIT University said that the advantage of textiles is they already have a 3D structure so they are great at absorbing light, which in turn speeds up the process of degrading organic matter. There’s more work to do to before they can start throwing out washing machines, but this advance lays a strong foundation for the future development of fully self-cleaning textiles, he said. The researchers including Dipesh Kumar and Vipul Bansal, also from RMIT University, worked with copper and silver-based nanostructures, which are known for their ability to absorb visible light. When the nanostructures are exposed to light, they receive an energy boost that creates “hot electrons.” These “hot electrons” release a burst of energy that enables the nanostructures to degrade organic matter. The team’s approach was to grow the nanostructures directly onto the textiles by dipping them into a few solutions, resulting in the development of stable nanostructures within 30 minutes. When exposed to light, it took less than six minutes for some of the nano-enhanced textiles to spontaneously clean themselves. The challenge for researchers has been to bring the concept out of the lab by working out how to build these nanostructures on an industrial scale and permanently attach them to textiles. Ramanathan said that their next step will be to test their nano-enhanced textiles with organic compounds that could be more relevant to consumers, to see how quickly they can handle common stains like tomato sauce or wine. Coming days sunlight will be used to clean off clothes, ending all washing woes and washing clothes to become a thing of the past.
SOURCE: Yarns&Fibers
Bangladesh is neither in a position to join the Trans-Pacific Partnership (TPP) bloc nor does it need to do so, the Bangladesh Tariff Commission (BTC) has said. The BTC which is the statutory organisation of the government working for protection of interests of local industries came to the conclusion after studying different aspects of the TPP deal, a Bangladeshi newspaper has reported. The BTC's report has been submitted to the commerce ministry. It also said the country's ready-made garment (RMG) export will face a competition from TPP member Vietnam. TPP member-countries have a vast scope to derive their mutual economic benefits through duty relief. Senior secretary of the Ministry of Commerce, Hedayetullah Al Mamoon said Bangladesh's exports get tariff-free access to markets in most of the TPP member-countries except the US under the least developed country (LDC) status. So, Bangladesh would not gain any significant benefits by joining the TPP bloc.
Among the TPP members, countries like Australia, Canada, Japan, Singapore and New Zealand grant Bangladeshi products tariff-free market access. The BTC report warned that Bangladesh's income from duty on imports from those markets will fall if Dhaka joins the bloc, because the country will have to reciprocate to some extent by reducing import tariffs for the partner countries. Consequently, Bangladesh will face a fall in revenue earnings from import duty as TPP member countries like Singapore and Japan are two major sources of its imports.
SOURCE: Fibre2fashion
