The committee is likely to submit its report to the department of commerce by mid-June. A government-appointed committee headed by former commerce secretary GK Pillai will soon finalise the rates for the export-boosting scheme — RoDTEP — towards exports from special economic zones (SEZs) and export-oriented units (EOUs). Remission of Duties and Taxes on Export Products (RoDTEP) scheme, which was rolled out last year, enables refund of duties and taxes at the central, state, and local level. It includes levies incurred in the process of manufacture and distribution of export products and currently not being rebated under any other scheme.
Source: Business Standard
But depreciating rupee could worsen inflationary conditions as India is a net importer India’s traditional exports such as IT, agricultural produce, textiles, tea, leather and engineering goods could gain a competitive edge amid the sharp decline in the rupee. Exporters said they are likely to fetch better value for their overseas shipments, especially in markets pegged to the dollar. However, a depreciating rupee is set to worsen inflationary conditions as India is a net importer, with the trade deficit widening to a record $192.24 billion last fiscal. High fuel and food inflation have already forced the central bank to raise the benchmark policy rate by a sharp 40 basis points. Agriculture exports are likely to do well if the rupee weakens further, an official said, adding rice and wheat exports will be particularly competitive and help exporters fetch more orders. Notably, agriculture exports comprised 11.4% of total exports in 2021, as per a brokerage report. Rafeeque Ahmed, chairman of Farida Group, one of India’s largest shoe manufacturers and exporters, said that while rupee depreciation may prove to be a short-term benefit, “it does help to get a little bit more money." “But most exporters have an element of import also, like the raw materials, and transportation cost. That sort of equalises it for us," he said. “Rupee depreciation will help us compete against other currencies like those of Bangladesh and China, which are also low,“ Ahmed added. However, tea exporters said the benefits of a weaker rupee may not be seen across the board. “Rupee depreciating won’t be a blanket benefit. We will only gain in export destinations that are pegged to the dollar because the Indian rupee has depreciated against the US dollar but has appreciated against the euro and yen on a year-on-year basis," said Anshuman Kanoria, chairman of the Indian Tea Exporters Association. “So we can benefit in Russia but not in the EU and Japan. We would also benefit in UAE." Russia is among India’s top markets for tea and the Sri Lankan economic crisis has opened new markets for India’s orthodox tea exporters. Anupam Shah, former chairman of the Engineering Exports Promotion Council (EEPC) said the rupee’s depreciation will definitely help increase exports but the extent of benefits will depend on a slew of factors including global demand, raw material prices, inflation and the Ukraine war. Madan Sabnavis, chief economist, Bank of Baroda was of the view that since India typically imports more than it exports, “so ultimately, India will pay more for our imports in case of currency depreciation." “Besides, when the currency depreciates, FPIs are tempted to invest. It will be important to see what RBI does. That will decide the rupee’s range," he added. Abhay Sinha, DG, Services Export Promotion Council (SEPC) said the rupee depreciation will make imports costlier, which will push up the cost of production in sectors where import content requirement is high. “Rupee depreciation will affect import intensive sectors making them costlier. Costlier imports and cheaper exports in import intensive sectors will reduce profit margins of Indian exports in certain sectors, particularly few sectors in merchandise exports," he said. India’s exports of manufactured goods have risen from 1.4% in 2010 to 1.8% in 2019, with broad-based improvement. But this remains much lower than peers. China’s manufacturing export share stands at 18%, Taiwan’s at 2.4%, Korea’s at 3.7% and Mexico’s at 2.8%, a Morgan Stanley report said. India’s participation in global supply chains remains low, especially compared to other countries, such as East Asian economies.
Source: Live Mint
The New Delhi based think tank Centre for Responsible Business (CRB) has suggested the government a slew of policy interventions to enable circular economy in the textile and apparel industry. In a circular economy material is reduced, reused, recycled and repurposed, and Indian suppliers and manufacturers stand to proactively adopt good practices and innovate through circular business models and practices to be part of the transformation that is happening globally. The report titled as ‘Circular Textile and Apparel in India: Policy Intervention Priorities and Ideas’ highlights key aspects of circular economy and explain how policy interventions can support them. Policy interventions in areas of design, material, chemicals, energy, water, waste etc have been suggested in the report based on secondary research and extensive stakeholder consultations across various value chain actors especially. For design, it has proposed the Ministry of Textile to issue advisory on textile production parameters and processes and publish guidelines to indicate the acceptable percentage of waste at each stage of production, along with water, energy and chemical consumption. The research has identified a need for stable policy on energy efficient machinery and use of cleaner energy and suggested to provide incentives on renewable energy over conventional energy. It has labelled Ministry of Textiles and Ministry of MSME as policy actors to promote clean energy among MSMEs focussing on in-situ technical/technological innovations. The body has called for better incentives for manufacturers and designers to work with proven alternate sustainable materials and incentivize the use of alternative materials through tax schemes at all segments of textile value chain. It has also recommended clear ban on landfilling of textile wastes and proposed regulation of Policy and Act on textile and apparel wastes.
Source: KNN India
Speaking at the stakeholders' outreach programme on India-UAE CEPA and IndiaAustralia ECTA here, Sitharaman said awareness events about these pacts are happening across the country. Finance Minister Nirmala Sitharaman said on Tuesday the country's trade pacts with the UAE and Australia will chart the way for economic growth. Speaking at the stakeholders' outreach programme on India-UAE CEPA and IndiaAustralia ECTA here, Sitharaman said awareness events about these pacts are happening across the country. She also said the Director General of Foreign Trade (DGFT) has been asked to translate the details of the trade pacts in Tamil and share them with the media and stakeholders. Tamil Nadu has a long-time connection with the leather sector, and the industry has achieved modernisation, Sitharaman said, as she went on to add that Tamil Nadu has been a frontrunner in trade for a long time. She urged entrepreneurs to know the features of these agreements and make best use of them. "If you want any support in connection with the agreements, feel free to convey it to us," she added. "The industry should equip itself to cater to the changing tastes and preferences of consumers post Covid. Access the available markets that are part of the agreements," she said. According to Sitharaman, when Prime Minister Narendra Modi visited the UAE some years back, the Royal family promised $75 billion worth investments in India. Sitharaman added that a formal agreement has also been signed, and entrepreneurs should scale up their businesses to get share from the investments. "We are now dependent on one country for APIs (active pharmaceutical ingredients). So enough investments need to be made after much thought. I request the state government to invite raw material makers to invest here. We should not depend on others for our raw materials. Backward and forward industries should be supported by the governments," she said. On the trade pact with Australia, Sitharaman said it is for the well-being of the Indo-Pacific economy. While there are many hurdles because of the Russia-Ukraine war, there are also opportunities since their exports are hit, she said. Speaking at the event, Union Minister of State for Commerce and Industry, Anupriya Patel, said all efforts are being made to reach out to the stakeholders all over the country to explain the details of the trade agreements. "The India-UAE trade agreement was concluded in record time. India is the second largest trading partner of the UAE. Several benefits will flow out of the comprehensive agreement between the two countries. There is huge scope and there are so many employment opportunities to be created. Bilateral trade will double in the next five years," Patel said. "The India-Australia agreement is a clear signal to the other developed economies to partner with India," she added. Union Minister of State for Fisheries, Animal Husbandry & Dairying, L.A Murugan, congratulated the Department of Commerce and Industry for organising the awareness event in Chennai. "We are making huge exports in the marine sector. For the first time in history, Rs 20,000 crore was announced for fisheries under the Pradhan Mantri Matsya Sampada Yojana (PMMSY) by Nirmala Sitharaman," he said. Murugan also said that Rs 7,500 crore was allocated for fisheries infrastructure development by Sitharaman. Despite the challenges posed by the pandemic, India's maritime sector registered growth, Murugan said, adding that seafood exports will touch Rs 1 lakh crore before 2025. Tamil Nadu Minister for MSME, T.M. Anbarasan, Consul General of Australia, Chennai, Sarah Kirlew, industry leaders from various sectors and other stakeholders took part in the event.
Source: Economic Times
A high level multi-sectoral delegation led by H.E. Mr. Qais bin Mohammed al Yousef, Hon’ble Minister of Commerce, Industry and Investment Promotion of the Sultanate of Oman is visiting India from May 10-14, 2022. The 48 members delegation includes senior officials and business representatives from diverse areas spanning health, pharmaceuticals, mining, tourism, telecommunication, energy, shipping and real estate. During the visit, senior officials from both the sides would be participating in the 10th Session of the India-Oman Joint Commission Meeting(JCM) to be held on 11 May 2022 in New Delhi which would be co-chaired by Shri Piyush Goyal, Hon’ble Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Government of India, and H.E. Mr. Qais bin Mohammed al Yousef, Hon’ble Minister of Commerce, Industry and Investment Promotion of the Sultanate of Oman. The visit of the Omani delegation comes at a prime time when the bilateral trade between the two countries has grown by 82% to reach US$ 9.94 billion in the financial year 2021- 2022. The visit provides an excellent opportunity to renew and further strengthen the already close and dynamic economic ties between the two countries. On 12 May, 2022, a meeting of the India-Oman Joint Business Council (JBC) will be jointly organized by FICCI and Oman Chamber of Commerce and Industry. The JBC will witness participation of the Hon’ble Ministers from both sides who will also address the gathering and interact with the business communities of India and Oman. A number of other engagements in New Delhi and Mumbai including B2B Events, Industry interactions, Investor meetings and so on are scheduled for the visiting Omani delegation during their stay in India.
Source: PIB
The Minister of State in Commerce and Industry said the country's trade was "passing through a watershed moment" as it clocked USD 675 billion on exports while merchandise exports accounted for USD 419 billion last year. India was expected to conclude free trade agreements with the United Kingdom, Canada, and the European Union before this year-end, Union Minister Anupriya Patel said here on Tuesday. The Minister of State in Commerce and Industry said the country's trade was "passing through a watershed moment" as it clocked USD 675 billion on exports while merchandise exports accounted for USD 419 billion last year. "We (The Ministry) are also in process of negotiations on the signing of free trade agreements with the United Kingdom, Canada, and Russia and they may be concluded before the end of the year," she said. Patel was speaking at the Stakeholder's Outreach Programme organised by Directorate General of Foreign Trade on the occasion of India signing a Comprehensive Economic Partnership Agreement with the United Arab Emirates and the Economic Cooperation Trade Agreement (ECTA) with Australia. Noting that exports are for the growth of a country, she said India concluded the agreement with Australia in just 88 days and it was one of the fastest-ever agreement signed. "It is a very comprehensive agreement," she said. She pointed out that the India-UAE Comprehensive Economic Partnership Agreement was already "operationalised" and there was huge scope in terms of employment generation. "Besides employment generation, these agreements will also lead to increase in remittances following the increase in the Indian diaspora (in the two countries)," she said.
Source: Economic Times
A high level multi-sectoral delegation led by H.E. Mr. Qais bin Mohammed al Yousef, Hon’ble Minister of Commerce, Industry and Investment Promotion of the Sultanate of Oman is visiting India from May 10-14, 2022. The 48 members delegation includes senior officials and business representatives from diverse areas spanning health, pharmaceuticals, mining, tourism, telecommunication, energy, shipping and real estate. During the visit, senior officials from both the sides would be participating in the 10th Session of the India-Oman Joint Commission Meeting(JCM) to be held on 11 May 2022 in New Delhi which would be co-chaired by Shri Piyush Goyal, Hon’ble Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Government of India, and H.E. Mr. Qais bin Mohammed al Yousef, Hon’ble Minister of Commerce, Industry and Investment Promotion of the Sultanate of Oman. The visit of the Omani delegation comes at a prime time when the bilateral trade between the two countries has grown by 82% to reach US$ 9.94 billion in the financial year 2021- 2022. The visit provides an excellent opportunity to renew and further strengthen the already close and dynamic economic ties between the two countries. On 12 May, 2022, a meeting of the India-Oman Joint Business Council (JBC) will be jointly organized by FICCI and Oman Chamber of Commerce and Industry. The JBC will witness participation of the Hon’ble Ministers from both sides who will also address the gathering and interact with the business communities of India and Oman. A number of other engagements in New Delhi and Mumbai including B2B Events, Industry interactions, Investor meetings and so on are scheduled for the visiting Omani delegation during their stay in India.
Source: PIB
'We should all take a call so that electricity shortage should not come to anyone, anywhere. Electricity should be there and it should be at a reasonable rate', FM said At a time when the country is reeling from power crisis, Finance Minister Nirmala Sitharaman has urged the states to have a relook at their energy planning. This is to ensure 24 hours of quality power to the industry and the people. Indicating that the crisis is a major roadblock for the development of jobs and the industry, she said, “We should all take a call so that electricity shortage should not come to anyone, anywhere. Electricity should be there and it should be at a reasonable rate.” The minister also urged the states to look at both renewable and non-renewable sources of power. The country had seen its worst power crisis in several years by the end of April with a maximum demand of 204.65 Gw on April 28 and energy shortage of 192 MU. Several states, including Haryana, Punjab, Rajasthan, UP and Bihar even faced blackouts. Based on the May 10 data, the country is seeing a demand of 191 Gw and energy shortage of 14.45 MU. “I am telling everyone, every state to relook at their energy planning ...... from all sources. Power should be available 24 hours and throughout the year. People should also get quality power, without drop or voltage shortage,” she added. The minister added that the manufacturing sector should also ensure that backward and forward industries are in place for a particular sector. Also, talking about dependency on one country (China) for active pharmaceutical ingredients (APIs), the minister batted for raw material investments in all manufacturing sectors. Taking the case of chip manufacturing, she asked the industry to look at investment in raw materials for the sector. She added that this needs support from both the Centre and the states. Regarding the rise in cotton and yarn prices, Sitharaman said that the government is looking into the concerns of the industry. The price of cotton has more than doubled to around Rs 95,000 per candy, up from around Rs 48,000 during the beginning of this season in October. Commerce, industry and textiles minister Piyush Goyal has already called for a stakeholders’ meeting on May 17 to look into the issue. She also indicated that a mutual trust is required between the industry and the government. On February 18, India and the United Arab Emirates (UAE) had signed the Comprehensive Economic Partnership Agreement (CEPA), which is the first free-trade agreement finalised by the Narendra Modi government. Talking about the deal and the UAE government’s commitment of investing around $75 billion in sovereign funds in India, the minister asked Indian companies to expand their business.
Source: Business Standard
Tirupur Exporters’ Association (TEA) on Tuesday appealed to the textile mills associations like Southern India Mills’ Association (SIMA) and Indian Texpreneurs Federation (ITF) here and Tamilnadu Spinning Mills Association (TASMA) in Dindigul to request their members to revoke the cotton yarn price hike of Rs 40 per kg for all counts immediately and restore to April level. TEA is always interested for the betterment of whole textile industry and each sector in the value chain is fully dependent on other sector for their sustenance and growth of business, its president Raja M Shanmugham said in a statement. Stating that he always wished to witness a win-win situation in all textile sectors, Raja Shanmugham expressed hope that considering the plight of Tirupur knitwear exports sector, comprising 95 per cent of MSMEs and the need to protect the valuable customers, the textile mills will come forward and address the genuine requisition immediately.
Source: The Print
The state government has taken financial assistance of rupees one lakh crore to get the land of the closed textile mills and allot it to the entrepreneurs to set up industries or launch new venture, said UP industrial development minister Nand Gopal Gupta Nandi. Industrial development minister Nand Gopal Gupta Nandi has said that the state government has decided to set up industries on the land of the closed textile mills located in various districts of Uttar Pradesh. “The state government has taken financial assistance of rupees one lakh crore to get the land of the closed textile mills and allot it to the entrepreneurs to set up industries or launch new venture. The UP government has held talks with the Centre to acquire the land of the closed textile mills by paying its pending dues,” he said. Addressing officers in a review meeting on Tuesday, Nandi directed them to start preparation for the third ground-breaking ceremony to be held in Lucknow on June 3. “Prime Minister Narendra Modi will inaugurate the ceremony in a programme at Indira Gandhi Pratishthan. Top industrialists and businessmen of the country will participate in the ceremony,” the minister said. Along with the products of “One District-One Product” (ODOP), the products of new investors will also be displayed at the exhibition to be organised during the groundbreaking ceremony. The officers should achieve the investment target set by the state government, he added. “The state government has decided to give relief to the industries that suffered losses and could not start due to the Covid pandemic. The government has also decided to give relief to the entrepreneurs in Noida bird sanctuary area who suffered losses due to the decision of the National Green Tribunal and are awaiting the court order. The period for application for the mega and super mega projects will be extended by six months,” Nandi said. “Industrial development review meetings will now be held region wise across the state. The progress of the works of Noida, Greater Noida, Yamuna Expressway and Gorakhpur Industrial Development Authority (GIDA) will be reviewed at their headquarters,” he added. Minister of state for industrial development Jaswant Saini and industrial development commissioner Arvind Kumar were present in the review meeting.
Source: Hindustan Times
Cotton yarn trade remained weak in markets of southern India today as spinners tried to maintain yarn prices at higher level, but buyers were not willing by buy yarn at higher prices. It is because weaving and garment industries are unable to find any takers for costlier products. According to trade sources, powerlooms are running at very low capacity. However, powerloom owners and stockists are getting handsome profits on older stocks of previous lower cost. A broker from Mumbai told Fibre2Fashion, “Power looms in Maharashtra are running with only 20-25 per cent capacity as demand is very poor. Powerloom owners are not getting sufficient buying for costlier fabric.” Instead, they were selling fabric from stocks which was produced on cheaper yarn. According to trade sources, such stocks of lower cost are proven beneficial. For example, earlier, fabric which was priced at ₹25-30 per metre 12-18 month back, is now being sold at ₹50-60 per metre due to costlier cotton. But stockists’ cost is lower as it was produced from cheaper cotton yarn. In Mumbai market, 60 count carded cotton yarn of warp and weft varieties were traded at ₹2,100-2,150 and ₹1,900-2,050 per 5 kg (GST extra) respectively. Carded cotton yarn (44/46 count) of warp variety was traded at ₹1,970-2,000 per 5 kg. 80 count carded cotton yarn of weft variety was sold at ₹2,100-2,150 per 4.5 kg. 40 count carded cotton yarn (warp) was sold at ₹361-367 per kg. 40 count combed yarn (warp) was priced at ₹405-425 per kg. Cotton yarn prices remained stable in Tiruppur market also. Buyers are reluctant for fresh buying as downstream industry is not accepting costlier fabric. According to traders, uncertain demand scenario is discouraging buyers in the entire value chain. In Tiruppur market, 30 count combed cotton yarn was traded at ₹430-440 per kg (GST extra), 34 count combed at ₹440-445 per kg and 40 count combed at ₹470-470 per kg. Cotton yarn of 30 count carded was sold at ₹390-400 per kg, 34 count carded at ₹405- 415 per kg and 40 count carded at ₹415-425 per kg, according to Fibre2Fashion’s market insight tool TexPro. In the global market, ZCE cotton yarn May 2022 futures traded up by CNY 75 to CNY 26,675 per ton while September 2022 traded higher by CNY 70 at CNY 27,570 per MT today. ZCE cotton May contract lost CNY 120 to CNY 21,345 per MT whereas September contract traded down by CNY 55 at CNY 21,220 per MT. ICE cotton futures settled Monday’s session lower after high volatility between positive and negative zones, as sporadic buying deals provided optimism which was washed away by the dollar’s strength. Cotton contract for July was down 0.68 cents to 142.93 cents per lb. December contract traded at US cent 123.63 per pound with loss of 0.11 cent. In Gujarat, cotton prices strengthened for the second consecutive session on Tuesday due to increased demand from mills, while daily arrivals also improved. A grade cotton was traded at ₹97,000 to ₹98,000 per candy of 356 kg, B grade cotton at ₹96,000 to ₹97,000 per candy and average grade cotton at ₹95,000 to ₹96,000 per candy. V797 variety was quoted at ₹48,000 to ₹52,500 per candy.
Source: The Hindu
Experts point out country relies only on textile, compromising trade diversification Pakistan’s Generalised Scheme of Preferences (GSP+) status is about to end in December 2023, but the country is yet to take full advantage of the scheme. Contrary to the objective of GSP+ status, ie trade diversification, Pakistan is heavily relying on only textiles to date. For the continuation of GSP+ status beyond 2023, Pakistan would need to make a fresh application seeking extension of the scheme, underlined the Pakistan Businesses Forum (PBF). The European Union (EU) has recently announced that the countries must commit to implementing 32 EU conventions against the current 27 conventions, in order to qualify for the GSP+ status (2024-34). “Now, we need to present strong evidence of progress made since the last report,” the PBF said, adding, “It has to be tangible with visible effects on the ground in order to convince the EU lawmakers about Pakistan’s commitment to the conventions.” PBF Vice President Ahmad Jawad was of the view that there was no institutional support from the government despite getting concessions on around 6,300 items under the GSP+ status. The country was unable to take full advantage of the facility, he said. “The textile sector was able to increase exports, but the potential for exports from other sectors like agriculture and other items was not tapped,” he said, adding that even the horticulture sector, despite fulfilling EU’s requirements, was not able to capture the European markets. Envoys from different European countries on regular intervals urged the local businessmen to tap the potential sectors under the extended facility – particularly export of kinnows, he said. “However, we were unable to secure a place in the European market; even though it is a major export market for the citrus fruit (kinnow), the quantity exported remained low,” he added. “We have not taken the advantage in a way we could have taken from the GSP+ scheme,” Jawad lamented. There was a lack of proper export strategy for the EU, he pointed out. “Ideally, we should have identified a marketing strategy with roadshows as Europe is a very big market,” he said. “Our ministries and foreign missions did not work on this front,” he argued. Jawad noted that there was a lot of focus on promoting textiles, owing to which other sectors like leather, halal meat and jewellery were neglected. Exports to the EU are dominated by textiles and clothing, which accounted for 75.2% of Pakistan’s total exports to the EU in 2020. From 2010-20, EU imports from Pakistan almost doubled from €3,072 million to €5,537 million. “The growth in imports from Pakistan accelerated particularly after the award of GSP+ status (€5,515 million in 2014).” “The export growth was stagnant during the last five to seven years, however, with the incentives offered by the previous government in terms of gas and electricity tariff at competitive pricing, our textile exports started to flourish and are expected to touch an all-time high this year,” AHL Head of Research Tahir Abbas said. However, for sustainable growth, “the county needs to diversify the exports”, he said. He was of the view that the information technology (IT) sector had a massive potential that the government should explore, as the sector had posted robust growth during the past year.
Source: The Tribune
The country’s textile industry especially unique and creative fabrics such as weaving and batik has great potential to bring the nation to the international stage and become a profitable commodity, said Prime Minister Datuk Seri Ismail Sabri Yaakob. In expressing confidence that the country’s industry such as the Royal Pahang Weave, batik, songket and tekat (embroidery) is viable to be brought to the world, he said such textile industries could garner the attention of the people and generate income. “I believe if large-scale promotion is carried out, (to introduce the national textile industry such as weaving and batik) in London, it could attract tourists to the city,” he told Malaysian journalists here. Ismail Sabri, who arrived in the capital of United Kingdom early Tuesday (May 10) morning, visited the Royal Pahang Weave exhibition held for the first time at the Malaysian High Commission in Belgrave Square. Earlier, the Raja Permaisuri Agong Tunku Hajah Azizah Aminah Maimunah Iskandariah granted an audience to Ismail Sabri and delegation, and Her Majesty later visited the Royal Pahang Weave exhibition, which began on Monday (May 9) and will last until Sunday (May 15). Tunku Azizah, who has been championing the country's weaving programme, also told Ismail Sabri about the exhibition, which among others showcased weaving from prisons and featured woven clothing including the Raja Permaisuri Agong's woven garment collection. The Prime Minister, who is on his way to Washington DC to attend the ASEAN-United States Summit, was in London to visit the exhibition and attend the Malaysian Family Hari Raya Aidilfitri gathering with Malaysians residing in the United Kingdom. Ismail Sabri, who is the Member of Parliament for Bera, was proud of the encouraging response to the Royal Pahang Weave exhibition "Weaving Hope" in conjunction with London Craft Week, as it involved the creativity of inmates of Penor and Bentong Prisons in Pahang. He said such a weaving programme could be improved, including in terms of training and skills, as well as gaining public support. Referring to the Pahang government's proposal to establish a weaving centre in Pekan, Pahang, the Prime Minister believed that more technical and vocational training education in the country's textile industry would be created. He did not rule out the possibility that more training institutes related to the country's textile industry would be established in the future. Ismail Sabri, who also pioneered the use of batik every Thursday among civil servants and Members of Parliament, said he was proud that the country's batik is now more accepted and its use is getting more popular. The Prime Minister and delegation then left for Washington DC at 5pm local time (12 midnight Malaysian time).
Source: The Edge Markets
The country's textile industry, especially unique and creative fabrics such as weaving and batik, has great potential to bring the nation to the international stage and become a profitable commodity, said Prime Minister Datuk Seri Ismail Sabri Yaakob. In expressing confidence that the country's industry such as the Royal Pahang Weave, batik, songket and tekat (embroidery) is viable to be brought to the world, he said such textile industries could garner the attention of the people and generate income. "I believe if large-scale promotion is carried out, (to introduce the national textile industry such as weaving and batik) in London, it could attract tourists to the city," he told Malaysian journalists here. Ismail Sabri, who arrived in the United Kingdom capital early Tuesday morning, visited the Royal Pahang Weave exhibition held for the first time at the Malaysian High Commission in Belgrave Square. Earlier, the Raja Permaisuri Agong Tunku Azizah Aminah Maimunah Iskandariah granted an audience to Ismail Sabri and delegation and Her Majesty later visited the Royal Pahang Weave exhibition which began on Tuesday and will end on Sunday. Tunku Azizah, who has been championing the country's weaving programme, also told Ismail Sabri about the exhibition which, among others, showcased weaving from prisons and featured woven clothing including the Raja Permaisuri Agong's woven garment collection. The prime minister, who is on his way to Washington DC to attend the Asean-United States Summit, was in London to visit the exhibition and attend the Malaysian Family Hari Raya Aidilfitri gathering with Malaysians residing in the UK. Ismail Sabri, who is Bera member of parliament, was proud of the encouraging response to the Royal Pahang Weave exhibition, "Weaving Hope", in conjunction with London Craft Week as it involved the creativity of the inmates of Penor and Bentong prisons in Pahang. He said such a weaving programme could be improved, including in terms of training and skills, as well as gaining public support. Referring to the Pahang government's proposal to establish a weaving centre in Pekan, the prime minister said he believed more technical and vocational training education in the country's textile industry would be created. He did not rule out the possibility that more training institutes related to the country's textile industry would be established in the future. Ismail Sabri, who also pioneered the use of batik every Thursday among civil servants and MPs, said he was proud that the country's batik was now more accepted and its use was getting more popular. The prime minister and delegation then left for Washington DC at 5pm local time (midnight Malaysian time)
Source: New Strait Times
Proposed suspension of tariffs on imported products from Ukraine by the EU will offer further opportunities. Brussels-based Euratex has launched the EU-Ukraine Textile Initiative (EUTI) aiming to facilitate cooperation between European and Ukrainian textile and apparel companies. EUTI offers a single contact point for Ukrainian companies seeking support and cooperation with EU counterparts, and vice versa. The connection will be helpful to match supply and demand –there are many requests for supplies of fabrics – engage in public procurement, and offer company-to-company support. The service will be coordinated by Euratex in close cooperation with Ukrlegprom, the Ukrainian Association of enterprises of the textiles amd leather industry. Olena Garkusha, an experienced manager from the Ukrainian textile industry and now based in Brussels will act as contact point at eu-ukraine@euratex.eu. EU exports to Ukraine reached €1.3 billion in 2021 and imports from Ukraine reached €500 million. There is potential to expand that relationship, both in the short term – to respond to urgent needs such as in military and medical fabrics – but also in the longer run. As partner in the PEM Convention, Ukraine can play an important role in Europe’s textile and apparel supply chain. The proposed suspension of tariffs on imported products from Ukraine by the EU will offer further opportunities. “Supporting the textile industry is our way to help the people of Ukraine,” said Euratex director general Dirk Vantyghem “We encourage our European members to connect via EUTI and develop sustainable partnerships.” “Today, we have many textile and apparel companies in Ukraine with expertise and skilled workers,” said Tetyana Izovit, president of Ukrlegprom, in welcoming the initiative. “They are able and willing to work with the EU, but lack the contacts, customers and supplies. EUTI will help them.”
Source: The Edge Markets
