Two prominent policymakers - finance secretary TV Somanathan and revenue secretary Tarun Bajaj - said on Monday that the larger industry had a big role to play in reducing tax disputes Two prominent policymakers — finance secretary TV Somanathan and revenue secretary Tarun Bajaj — said on Monday that the larger industry had a big role to play in reducing tax disputes. “There is a tendency in this country to not leave any loophole unexplored. That is the philosophy with which it is approached by the accounting profession. This advice is tendered at an expensive cost to the industry,” said Somanathan at a post-Budget interaction with stakeholders and industry representatives in Bengaluru. The interaction was also attended by finance minister Nirmala Sitharaman. Somanathan said while there are many genuine problems that the government needs to correct, there are also cases “where industry seeks very deep loopholes on some very speculative interpretation.” Bajaj added to his colleague’s point and gave an example: “Recently, some corporates have got a favourable ruling from a high court that cess is expenditure. The Supreme Court has held that cess is an income tax and not an expenditure. After the ruling, we found that in all the existing tax dispute cases one additional point was added by the lawyers saying that cess is an expenditure and not an item after profit before tax,” he said. The Budget has proposed a retrospective amendment to the Income Tax Act from assessment year 2005-06 to stop companies from claiming cess and surcharge as business expenditure during tax calculations. Tax experts say this could lead to re-opening of past cases. “We need to make laws simpler and take away unnecessary exemptions, but the larger industry also has a role to play,” Bajaj said. Speaking at the interaction, Sitharaman said, “This Budget stands more for continuity, to provide a tax predictable regime and also to make sure that we are planning for the next 20-25 years. It gives a vision and also some kind of roadmap through which we want to achieve fundamental infrastructure, which will help us to be proud of ourselves.” Underlining that the country is still coming out of the effects of Covid-19, she said that the nation needs to have a support system particularly for health, which is completely stabilised and strengthened. She also stressed that there was a need for “waking up for the children, who have lost out on two years of education and bridging the gaps.” Sitharaman pointed out that the Budget is also about making sure that states have a participatory role in whatever the Centre is doing. Funds are being shared with them and they can actively engage in infrastructure building as well. Stating that each one of the investments doesn’t stand alone in a silo, Sitharaman told the gathering that the Centre brought in the principle of PM Gati Shakti. This will be an umbrella-like scheme for several projects that are aimed for mutual benefit of the industry
Source: Business Standard
Polyester-cotton (PC) yarn prices decline in north India’s knitwear hub of Ludhiana on Saturday due to slower demand and cheaper cotton. However, prices of polyester spun fibre (PSF), a raw material for polyester yarn, are expected to increase this week. Prices of acrylic yarn remained stable on Saturday after seeing a rise in the previous two days. PC yarn prices decreased by ₹5-15 per kg on Saturday in north India, according to market sources. It was due to fabric and garment manufacturers not being active for fresh buying as they are facing uncertain demand scenario. In addition, summer demand from local market is also not yet visible. Otherwise also, demand of PC fabric and garments remains subdued in summer season as buyers prefer cotton garments. Cheaper cotton was also a reason for lower PC yarn prices, as production cost came down, a trader told Fibre2Fashion. Meanwhile, PSF prices remained unchanged despite high crude oil prices. However, PSF prices are expected to go up by ₹3 per kg this week, as the price of raw material - melt –increased by ₹5 per kg due to higher crude oil prices. Traders feel that volatility in crude oil prices has dented confidence in textile market. In Ludhiana, the country’s most prominent man-made yarn market, 30 count PC combed yarn (48/52) was sold at of ₹ 275-295 per kg, 30 count PC carded yarn (65/35) was priced at ₹245-250 per kg, and 20 count PC (recycled) yarn O/E (40/60) was traded at ₹223- 225 per kg. Acrylic NM (2/48) was priced at ₹350-355 per kg, while Acrylic NM (2/32) at ₹290-295 per kg. 30 count PC combed yarn (48/52) eased down by ₹15 per kg, while 30 Count PC carded yarn (65/35) slipped by ₹5 per kg. Reliance Industries Ltd (RIL) maintained PTA at ₹84, MEG at ₹59.60 and PSF at ₹120 per kg. However, price of melt was increased by ₹5 to ₹97.50 per kg.
Source: Fibre2 Fashion
India is looking to advance a comprehensive free trade agreement with Bangladesh, commerce and industry minister Piyush Goyal said on Monday at an industry event. Addressing the inaugural session of the India-Bangladesh Stakeholders meet, Goyal listed four focus areas for strengthening bilateral relationship including uninterrupted supply chain, joint production of defense equipment, and pharmaceuticals. Goyal also pressed for the need to explore potential areas of investments, like Textiles, Jute products, Leather & Footwear, APIs for Pharmaceuticals, Medical Equipment, Digital Health & Education Services, Agribusiness, Electronics, Renewable Energy, etc. India and Bangladesh will soon finalize the joint study on the proposed bilateral free trade agreement, aimed to boost economic ties, and was discussed by two sides agreed during the secretary level talks on Friday in New Delhi. Goyal urged pharma industries of the two sides to explore joint manufacturing of vaccines and medicines. “During COVID-19, vaccines produced in India, - Covaxin & Covishield created a niche for themselves as safe vaccines. Time has now come for joint manufacturing of vaccines and other medicines," said Goyal in his address. Bangladesh is India’s biggest trade partner in South Asia. The two sides are also decided to strengthen regional connectivity between the two countries through multi-modal transport. “Since 2014 we have scaled up our trade and economic engagement as collaborators and not competitors," said Goyal. He outlines that New Delhi extended three lines of credit for $8 bn to Bangladesh, the largest concessional credit given by India to any single country. Bangladesh is India's 5th largest export destination, accounting for 3.32% of India’s total outbound shipments in 2020-21 to $10.16bn and imported $1.09 bn worth of goods in the same year. Top exports from India to Bangladesh include cotton, cereals, fuel, vehicle parts and machinery, and mechanical appliances. Bangladesh is India's biggest trade partner in South Asia and India is the second biggest trade partner of Bangladesh. India and Bangladesh had decided in October last year to start talks on a comprehensive economic partnership agreement (CEPA). “Indo-Bangladesh CEO Forum to promote investments is another testimony to our friendship," said Goyal. The CEO forum will also have the first meeting soon. He added that New Delhi was also developing two Indian Economic Zones at Mirsarai and Mongla in Bangladesh. India has over 350 Indian companies in Bangladesh now, Goyal added.
Source: Live Mint
"Our budget, both last year and this year, and the 'Aatmanirbhar Bharat' programme including our PLI scheme are efforts in our direction towards becoming self-sufficient and also...our commitment towards a sustainable future for India," he said addressing an interactive session on environment at the India Pavilion at Expo 2020 Dubai. The budget announcements and steps like production linked incentive (PLI) scheme are efforts in making the country self-sufficient and achieve sustainable development, Commerce and Industry Minister Piyush Goyal said on Monday. He also said India is hoping to use its livestock base to produce energy in the days to come. "Our budget, both last year and this year, and the 'Aatmanirbhar Bharat' programme including our PLI scheme are efforts in our direction towards becoming self-sufficient and also...our commitment towards a sustainable future for India," he said addressing an interactive session on environment at the India Pavilion at Expo 2020 Dubai. India is promoting a number of startups that are working on sustainability, he added. The minister called upon climate warriors to focus on three fronts - decouple growth from carbon emissions; "adopt climatepreneurship" (climate plus entrepreneurship) and make it a mission, and begin such initiatives at home. Greater industry participation, investments in renewable energy and increased thrust on hydrogen or electric vehicles need to be taken up, he suggested.
Source: Economic Times
ww.citiindia.org 10 CITI-NEWS LETTER Trade and Industry Minister Nevine Gamae met Monday with UAE Ambassador in Cairo Mariam Khalifa al Kaabi to discuss means of boosting cooperation between the two countries in the coming stage. The meeting also took up the latest economic developments at the regional and international levels, according to a statement by the Trade and Industry Ministry. Gamae and Kaabi stressed the importance of unifying efforts to secure needs of the Egyptian and UAE markets, especially in light of the current regional and international challenges. It is important that good relations between Cairo and Abu Dhabi be translated into trade and investment cooperation projects that serve the economic interests here and there, Gamae said. She also pressed for action to increase the volume of trade exchange between the two Arab countries through further eased measures for exporters from Egypt and the UAE. Abu Dhabi is keen on enhancing economic ties with Cairo to best serve the two economies and peoples, she told Gamae. The UAE market could very well be used as a gate for exports of joint projects with Egypt to other markets in the Arab Gulf region and Southeast Asian countries, the diplomat noted. Likewise, Egypt could be the gate for UAE exports to African markets, Kaabi further said
Source: Egypt Today
A strong currency reflects the strength of a nation and will support exports, contrary to the general notion that a weak currency supports exports, said Piyush Goyal A strong currency reflects the strength of a nation and will support exports, contrary to the general notion that a weak currency supports exports, Commerce and Industry Minister Piyush Goyal said on Monday. “If we want to be a $5-trillion economy, our exports of goods and services will have to be a trillion dollars at least — ideally 25 per cent, but at the very least 20 per cent. And why I said 25 per cent, because we need to support our import of oil. Therefore, our exports will have to really go up by leaps and bounds, so that we can continue to finance our imports and strengthen the rupee in the days to come,” Goyal said, while delivering a keynote address of industry lobby group Associated Chambers of Commerce and Industry of India. Goyal’s comment comes in the backdrop of the rupee falling to a record low at 76.97 against the dollar earlier in the day, settling 1.05 per cent weaker than the previous close. Since Russia’s invasion of Ukraine on February 24, oil prices jumped 29.4 per cent and the rupee depreciated 3.2 per cent. “I personally am not of the old school of thought (or) one section of Industry or society or exporters which believes that a weak rupee or a weak currency supports exports. I believe a strong currency reflects the strength of a nation and will always be good for exports, because India, at the end of the day, is a net importer of goods. A strong currency supports the Indian economy,” the minister said.
Source: Business Standard
The landmark Comprehensive Economic Partnership Agreement (CEPA) signed recently between India and the United Arab Emirates (UAE) is a major boost to bilateral relations and economic cooperation between the two nations. One of the main aims of the CEPA is to increase bilateral non-oil merchandise trade to USD 100 billion in the next five years. The CEPA will encourage bilateral investments with gains in labour-intensive industries like Textiles, Gems and Jewellery, Leather Goods and Footwear, and Food Processing. Both nations stand to benefit from this agreement. A few of the significant benefits for India are as follows: Access to markets in the MENA region: The CEPA is India's first bilateral trade agreement in the Middle East and North Africa (MENA) region. This agreement will ease similar agreements with the other Gulf Cooperation Council (GCC) countries - Saudi Arabia, Qatar, Kuwait, Oman, and Bahrain. It will provide better access to markets across the wider MENA region by leveraging the UAE’s transport and logistics infrastructure. Boostto Indian exports: Under the CEPA, around 90% of the products exported and 80% of lines of trade from India and to the UAE will attract zero duty, a significant benefit for Indian exports facing increased competition. The zero-duty access for Indian products to the UAE is expected to expand over 5-10 years to 97 percent of UAE tariff lines, or 99% of Indian exports by value. The UAE is India’s third-largest trading partner and secondlargest export destination. And India is the UAE’s second-largest trading partner and largest in terms of exports. The UAE-India CEPA will benefit around USD 26 billion of Indian products subject to 5% import duty by the UAE. As the UAE is a major global redistribution centre, especially with exports to Africa being routed through it, the CEPA will drive warehousing and distribution centres in the UAE for Indian exporters. Investment flows: The CEPA is expected to accelerate FDI inflow from the UAE into India. Job creation for the Indian workforce: This agreement will create additional jobs and improve the working environment for the large Indian workforce working in the UAE. It is likely to generate one million jobs in various labourintensive businesses. Ease of doing Business: The CEPA provides for automatic registration and marketing authorisation of Indian generic medicines in 90 days upon their approval in developed countries. India has given duty concessions on gold import from the UAE while Indian jewellery exporters will have zero duty access to the UAE market - significant as their trade is 16% of the global diamonds, gold, and jewellery trade. Comprehensive partnership in several areas Cultural cooperation: The CEPA sets up the foundation of an India-UAE Cultural Council to promote cross-cultural exchanges, cultural projects, exhibitions, and dialogue between thought leaders. Energy partnership: The UAE is one of India's key energy providers and has shown its commitment to meeting India's energy demand. Climate action and renewables: Both nations will cooperate on the implementation of the Paris Agreement, working closely in the contexts of Conference of the Parties (COP), the International Renewable Energy Agency and the International Solar Alliance. Hydrogen Taskforce:India and the UAE have agreed to establish a joint Hydrogen Taskforce to help scale up technologies, with a special focus on the production of Green Hydrogen. Emerging technologies: The UAE and India shall expand cooperation and collaboration on critical technologies and mutually promote e-businesses and e- payment solutions. Skills cooperation: Both nations agreed to work together to ensure that the UAE labour market skill needs from India are met through workforce access to training programs aligned to market needs and to address the changing needs for the future of work. Food security: Both nations agreed to expand cooperation through enhanced bilateral food and agriculture trade and responsible foreign investments in agriculture and food systems. Health cooperation:It was agreed to collaborate on the research, production, and development of reliable supply chains for vaccines and to enhance investments by UAE entities in the rapidly growing health infrastructure in India. Education: Both countries agreed to establish world-class institutions to drive innovation and technological progress. The first-ever IIT overseas is to be set up in the UAE. Cooperation in international affairs, and defence and security: The UAE and India agreed to support each other in international affairs, and in defence and security to maintain peace in the region. Mechanisms to preventtreaty abuse The CEPA has a permanent safeguard mechanism to resort to in case of sudden surges in imports, along with strict Country of Origin rules that will prevent products from other countries moving via the CEPA route. The UAE being a global transhipment centre, there is a greater risk of such treaty abuse; hence, rules of origin are to be strictly implemented. The CEPA is a historic future-looking agreement that will benefit both India and the UAE in the long run in various ways. Both countries shall now aim for its proper implementation to maximize their gains and leverage upon the several promising opportunities for growth and expansion.
Source: Economic Times
Facilitating online trade and exhibition platform will increase marketing opportunities for small and medium enterprises (SMEs) in the two countries, said Minister of Industrial Development, SMEs and Cooperatives, Government of Mauritius, Soomilduth Bholah at a webinar organised by MVIRDC World Trade Center Mumbai. “Such initiative will harness the benefits conferred by the India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA),” he added. MVIRDC World Trade Center Mumbai has launched a virtual exhibition spread over three months for India-Mauritius trade on its digital platform wetrade.org to enhance business opportunities for buyers and sellers of the two countries. The agreement gives Indian companies a major advantage through the preferential access that Mauritius has to regional trading block like SADC, COMESA and AFCTA, the minister said at the webinar organized by World Trade Center Mumbai, Economic Development Board, Mauritius and Mauritius Chamber of Commerce & Industry. “Mauritius is strategically located between Africa and Asia, we want to make Mauritius a manufacturing powerhouse in the African continent,” said Bholah. He emphasized on India being a key partner in Mauritius’ economic development, through trade and investment ties and the island nation in the Indian ocean imports 15 percent of its global imports including pharmaceuticals, rice, cotton, cotton yarn, etc from Asia’s third largest economy. With the manufacturing sector contributing about 30 per cent to the Mauritius economy, the country has made significant progress in high tech industries such as medical devices, auto components, technical textiles, sophisticated jewellery etc. Participating in the webinar, Hemraj Ramnial, CSK, Chairman, Economic Development Board, Mauritius said that the virtual exhibition will become the digital corridor to help Indian businesses access the African market, which constitutes 17 per cent of the global population and about 60 percent of untapped arable land. Dr. Vijay Kalantri, Chairman, MVIRDC World Trade Center Mumbai in his welcome regards said, “The current bilateral trade of USD 466 million does not reflect true potential and I am confident that through our coordinated efforts we can increase this volume to USD 1 billion in the next two years.”
Source: KNN India
The pandemic has led to a surge in the share of online sales for micro, small and medium enterprises integrated with e-commerce platforms, thereby boosting their revenues and spurring hiring. The pandemic has led to a surge in the share of online sales for micro, small and medium enterprises integrated with e-commerce platforms, thereby boosting their revenues and spurring hiring, according to a report. The survey-based report by ICRIER, a leading economic think tank, found that digitalisation was a key coping mechanism for MSMEs to overcome mobility restrictions during the pandemic. "The report suggests that MSMEs are increasingly embracing digital technologies, with online sales accounting for 27 per cent of the total sales of surveyed MSMEs in 2020-21, up sharply from 19 per cent in 2019-20 and 12 per cent in 2018-19," a release stated. MSMEs that have adopted e-commerce platforms have experienced an increase in sales, turnover, and profits. This has also led to increased hiring. However, while e-commerce has been associated with improved employment opportunities for MSMEs, share of women participation in the workforce in the surveyed firms remained significantly low, the release said. The report titled 'MSMEs Go Digital - Leveraging Technology to Sustain during the Covid19 Crisis' supported by a grant from Walmart, is the first to examine the effect of digitalisation on MSMEs integrated with e-commerce platforms, during the pandemic. This report presents a synthesis of the findings from a survey of 1,537 MSME manufacturing units across 10 states. It captures the impact of e-commerce on the volume of business, supply chain linkages and employment of MSMEs integrated with ecommerce platforms. The six sectors covered in the survey include sports goods, toys, furniture, handicraft, textile, and processed & preserved food.
Source: Zeebiz
M.K. Stalin, the Chief Minister of Tamil Nadu, said on Monday that the State Industries Promotion Corporation of Tamil Nadu Ltd (SIPCOT) will build a huge textile park in the Virudhunagar district. Stalin said the 1,000-acre textile park will be under the Central government's Mega Investment Textiles Parks (MITRA) initiative, and a complete project report will be prepared soon, as he laid the foundation stone for the International Furniture Park in Thoothukudi. SIPCOT is also aiming to build food parks in the districts of Theni and Thoothukudi, according to Stalin.He said that the state government had announced that an international furniture park, worth Rs 4,500 crore, will be built soon. Experts estimate that the global furniture market would reach $750-800 billion by 2025, and while China and Vietnam will contribute significantly, India's portion will be minimal, according to Stalin. He said the furniture park will be built on 1,156 acres of land in Thoothukudi, with a Belgium business, a global leader in the manufacture of doors and windows, investing Rs 430 crore. Hettich India Pvt Ltd and Deceuninck Profiles have been given space in the furniture park, according to Stalin. The state government signed a Memorandum of Understanding (MoU) with eight companies on Monday, agreeing to invest Rs 2,845 crore to set up their facilities in the furniture park.
Source: News Track Live22
Cambodia ranked third among 15 countries in the East Asia Pacific region that can benefit the most in real income terms from the Regional Comprehensive Economic Partnership (RCEP), according to a research paper by the World Bank. Reductions in tariffs, non-tariff measures and trade costs are required to achieve the maximum gains, it said. The report, titled ‘Estimating the Economic and Distributional Impacts of the Regional Comprehensive Economic Partnership’, said the two countries that stand to gain more than Cambodia are Laos and Thailand. Vietnam and Malaysia are other countries that are set to benefit from the pact. RCEP was signed in November 2020 and came into force in January this year. Exports and imports are expected to rise for all RCEP member countries, it said. Under the full scenario, Cambodian exports are set to surge by 6.5 per cent. Vietnam is expected to register a 11.4 per cent export growth, while Japan is scheduled to report an increase in exports of 8.9 per cent. In terms of total exports, the sectors that expand the most for Cambodia are wood and paper products (34.8 per cent), chemical, rubber and plastics (25.3 per cent) and electrical equipment and machinery (24.2 per cent). The tariff reduction is expected to benefit chemical and plastics (2 percentage point reduction, between 2035 and 2020). Meanwhile, the wood and paper sector is scheduled to gain due to non-tariff measure reduction (14.8 percentage points decrease between 2035 and 2020). According to the country and productivity kick scenario of the study, the top expanding sectors in Cambodia are chemicals, rubber and plastics (14.3 per cent), wood and paper products (13.8 per cent), and textiles (6 per cent). The study also pointed out that countries such as Cambodia, Brunei, Malaysia, Myanmar, New Zealand, Singapore, and Thailand have just one tariff schedule for all other members, while others have variations by partners. The study predicted a substantial increase in agricultural and manufacturing exports from RCEP countries. Among them, meat products, food and beverages, textiles, chemicals, and wearing apparel are the sectors registering the fastest growth rates of exports. “This is linked to both the reduction of tariffs, which takes place mainly in meat products, motor vehicles, food and beverages, wearing apparel, crops, nonmetallic minerals and textiles, and reductions of non-tariff measures,” it observed. Exports of some services are also set to benefit. They are tourist services, trade, and public administration increase exports, linked to the fall in non-tariff measures. The paper noted that the imports of all commodities show a big boost, largely explained by the fall in nontariff measures. “In value terms, the sectors that expand the most are mainly manufacturing products: Trade in Electrical equipment and machinery; Chemicals, rubber and plastics; Motor vehicles and parts; Metals; and wearing apparel expands significantly among RCEP member countries. Trade creation in the region largely exceeds trade diversion away from the rest of the world, which takes place in the manufacturing sectors,” the report added.
Source: Fibre2 Fashion
Vietnam’s logistics sector will continue to attract foreign investment due to postpandemic development opportunities there, say optimistic experts. According to Tran Thanh Hai, deputy head of the ministry of industry and trade export and import department, Vietnam has geo-economic advantages to promote development of production, export and logistics service. Piyush Rathorenoi, general director of Vietnamese company Transworld QBV ICD, expects the sector to thrive in future, turning Vietnam into a logistics hub of the world. CapitaLand Development (CLD) of Singapore-headquartered CapitaLand Group last month signed a memorandum of understanding (MoU) on investment cooperation worth $1 billion with the People’s Committee of the northern province of Bac Giang to build its first logistics and industrial urban project. CLD Vietnam general director Ronald Tay told a news agency the project will be a synergistic factor in forming a flexible supply chain network for the northern key economic region, which is expected to generate jobs for over 20,000 locals. Cargo and freight company Best Express Vietnam has invested $20 million in developing commodity sorting centres in Bac Ninh and Ho Chi Minh City. It also plans to spend an additional $3 million on buffing up its means of transport in 2022 to increase its offices to 1,500 across the country. SEA Logistic Partners has started construction of the SLP Park Xuyen, a project that aims to supply warehouses in the Mekong Delta province of Long An. It is scheduled to be completed in the first quarter of 2023. Supaporn Sukmak, director of the office of overseas trade promotion of Thailand in HCM City said te demand of warehouse for import and export goods in Vietnam is on the rise. According to a report by the ministry of industry and trade, Vietnam is home to 30,000 providers of logistics service, and the warehouse service is one of the key segments of Vietnamese logistics firms. Over the last two years, despite the complicated developments of COVID-19, nearly $3 billion was poured into Vietnam’s logistics industry.
Source: Fibre2 Fashion
The US Ambassador to Cambodia has said that up to 30 percent of Cambodia’s textile exports are to the US market, which he considers to be large compared to other countries, despite the world facing the COVID-19 crisis. Ambassador W. Patrick Murphy, said this during his courtesy call and discussion on US-Cambodia Bilateral Relations, including: Combating Human Trafficking, Other Issues The US Department of Labor (USAID) Department of Labor and Aid Program at the Department of Labor Monday. He added that the increase in such large exports of textiles to the US market is also a testament to the good cooperation between Cambodia and the United States, despite some other issues that are problematic and which takes time to discuss appropriate solutions together. Dr Ith Sam Heng expressed his appreciations to Ambassador Murphy in his diplomatic mission, strengthening the cooperation between Cambodia and the United States which has achieved remarkably results. The Minister added that Cambodia continued to focus on combating human trafficking through labor trafficking and the elimination of child labour has made significant progress, despite some challenges and issues. “To achieve this goal, we have promoted these activities responsibly, ensuring the protection and promotion of the rights and benefits of migrant workers, protection from labor exploitation or discrimination in the workplace, providing legal assistance and wellbeing, assist workers in obtaining proper legal documents and assist undocumented migrant workers, facilitate access to social security and other benefits in accordance with the laws of the target country. “On the issue of child labor, the Labor Inspectorate is working to continue the education campaign to inform the handicraft enterprises and guardians to clearly understand the laws and regulations that define the use of children in any kind of work and under what conditions, while also applying the law to enterprises. Both sides expressed pride in the progress of the cooperation and agreed to further promote these activities, as well as work together to improve the implementation of freedoms and professional organizations. The Better Factories project, will continue to be encouraged among factory owners, enterprises in the manufacturing of travel products and bags to become members of the Better Factories project in Cambodia in order to obtain certificates of origin, and the Ministry will arrange for inspections.
Source: Khmer Times
Natural fibre dampens vibrations over 50% faster than traditional glass fibre skis. ISPO award-winning premium skis from Pusu and Spinnova have performed well with both test skiers and in laboratory tests. New test results reveal that alpine skis strengthened with Spinnova fibre dampen vibrations over 50% faster than traditional glass fibre skis. Spinnova debuted on the composite markets with Pusu in November 2021, and promising results verified in laboratory testing indicate the further potential of Spinnova as a highperformance material. The skis turn with ease, are energetic and dampen vibrations elegantly, combining flexibility and effortlessness with a manoeuvrability that is reminiscent of a slalom ski, the company says. They are also smooth and easy to control even at high speeds and on rough terrains, according to test skier Riku Laakso. Pusu’s Abisko and Loska models are made with sustainable and natural Spinnova material instead of being strengthened with traditional glass and carbon materials. Spinnova’s technology produces textile fibre from certified trees without dissolving or harmful chemicals. The fibre is made from renewable raw materials with a process that uses 99% less water and generates 65% fewer carbon emissions than cotton production. “It’s exciting to see that the Pusu x Spinnova skis are not only ecological but can also offer improved performance,” said Spinnova’s co-founder and CTO Juha Salmela. “I’m thrilled to see that the high performance reported by test skiers has now also been matched by lab tests. The ability to dampen vibrations is an extremely important quality in skis and one that substantially improves the skiing experience.” The laboratory tests also showed that skis strengthened with Spinnova fibre endure strain in a different way to traditional glass fibre skis. “Based on extensive test skiing, it seems that Spinnova fibre skis maintain their original properties such as elasticity longer than glass fibre skis, extending the product lifecycle,” said Pusu’s founder and CEO Jani Ahvenainen. “The fibre behaves consistently and is easy to laminate as a part of the composite. What’s more, it doesn’t shed any dust that can irritate the skin or breathing.”
Source: Innovation in Textiles
