India scaled its highest ever exports tally at US$ 44.4 Bn in Textiles and Apparel (T&A) including Handicrafts in FY 2021-22, indicating a substantial increase of 41% and 26% over corresponding figures in FY 2020-21 and FY 2019-20, respectively. USA was the top export destination accounting for 27% share, followed by EU (18%), Bangladesh (12%) and UAE (6%). In terms of product categories, the export of cotton Textiles was US$ 17.2 Bn with 39% share registering a growth of 54% and 67% during 2021-22 over FY 2020-21 and FY 2019- 20, respectively. Export of Ready-Made Garments was US$ 16 Bn with 36% share showing a growth of 31% and 3% during 2021-22 over FY 2020-21 and FY 2019-20, respectively. Man-made textiles export was US$ 6.3 Bn with 14% share which shows a growth of 51% and 18% during 2021-22 over FY 2020-21 and FY 2019-20, respectively. Export of Handicrafts was US$ 2.1 Bn with 5% share reporting a growth of 22% and 16% during 2021-22 over FY 2020-21 and FY 2019-20 respectively.
Source: PIB
Union Minister of Textiles, Commerce & Industry, Consumer Affairs and Food & Public Distribution, Shri Piyush Goyal held an interactive meeting with the newly constituted Textile Advisory Group at IMC Chamber of Commerce and Industry, Mumbai yesterday. Shri Upendra Prasad Singh, Secretary Textiles initiated deliberations with the Textile Advisory Group which has Senior Officials from the Union Ministries of Textiles, Agriculture & Farmer’s Welfare, Commerce, Officials from Research and Development sector, Senior Official from the Cotton Corporation of India Ltd., and stakeholders. The whole of textile value chain was represented in the consultations through lead associations and experts in the meeting. Shri Suresh Kotak, Chairman of the Textile Advisory Group & renowned veteran cotton person, chaired the meeting of Textile Advisory Group constituted in pursuance of the directions of Shri Goyal on 17.05.2022 during the Stakeholders consultative meeting at New Delhi. He particularly stressed the need to ensure seed availability for sowing especially new early maturing varieties and need to revamp seed system to enhance productivity of Indian cotton from present stagnation. He elaborated on possible approaches to augment availability of cotton relating to stock possibilities domestically and from other countries. Position on availability of cotton now was brought out and request was made to help logistics to ensure shipping in time from three sources internationally. He said that as per estimates of Committee on Cotton Production and Consumption, carry over/closing stock is 41.27 lakh bales, which is about 12.66% stock to use ratio and equivalent to stock for 45 days consumption. Emphasizing on the need of thinking and working together on principle of “I am because WE are” for the cotton economy. To look at productivity issues, Shri C.D. Mayee, President, Indian Society for Cotton Improvement highlighted various aspects of cotton agro-economy including latest technique of PB knot to protect cotton crop from pink bollworm attack. Shri Vikas Patil, Director of Extension and Training, Commissionerate of Agriculture, Maharashtra put forth initiatives by the Government of Maharashtra relating to productivity enhancement, value chain development and pink bollworm management in Cotton. Shri Goyal exhorted that containment of factors impinging on productivity need to be tackled in time bound project mode manner and the industry should participate in self-regulatory mode. The Ginning segment should take responsibility and make pheromone trap technology mandatory to monitor and prevent spread of Pink Bollworm pest attack from Ginneries and oil extraction units to cotton crop in farmers’ fields. He suggested that everyone be sensitized for compulsory use of pheromone trap technology through the wide network of the Cotton Corporation of India Ltd., combined with efforts of the State Governments in this regard. The Minister also urged the industry to develop models for improving Ginning efficiency and outturn. Shri Goyal also emphasized the need for protecting cotton crop from pink bollworm attack with contributions from Cotton Corporation of India Ltd., Cotton Association of India, Confederation of Indian Textile Industry and the Cotton Textiles Export Promotion Council. Addressing the need of accuracy of statistics across the value chain to enable policy decision, trade facilitation, traceability etc., Shri Goyal directed that a portal be created with inputs of Cotton Association, Ginners as well as Confederation of Indian Textile Industry & the Southern India Mills’ Association. The portal to work on self-compliance mode. If persuation and self-compliance do not yield results then ‘disincentives’ can be built in the systems like Cotton Corporation of India Ltd., not to do any transactions with such defaulter and any Govt. benefits be linked to submission of details. The core issue of Seed quality was deliberated in detail with dedicated action for current season. Joint Secretary, Seeds intimated that sufficient quantity of seed is available to meet the domestic requirement. Industry opined need to distinguish right from wrong types. Shri Goyal emphasized to do campaigns in farming areas to control sale of spurious illegal seeds. While addressing the approaches for augmentation in short term by import, Secretary, Textiles Shri Upendra Prasad Singh advised industry to approach Ministry of Agriculture & Farmers’ Welfare for procedural requirements to enable import from some destinations. As regards extension of period of wavier of import duty up to 31.12.2022, Shri Goyal directed the concerned authorities to finalise the matter early. Inputs on packaging material in HDPE/ colour thereof would need to be facilitated with the Ministry of Chemical and Fertilisers. The meeting was co-ordinated jointly by the Textile Commissioner and Cotton Corporation of India Ltd.
Source: PIB
Council to discuss a multi-year plan to reform GST structure, ways to boost compliance. The Goods and Services Tax (GST) Council will likely meet in the second half of June, amid a new debate on the way taxation powers are shared between the Centre and states. The Supreme Court recently ruled that the council’s recommendations are not binding on the Union government and states, but have a persuasive value as the country has a cooperative federal structure. The council will deliberate on how some states’ revenue concerns will be addressed after the cessation of a five-year revenue compensation period on June 30. According to sources, the proposal for a comprehensive rate rationalisation may not be taken up in the council’s next meeting, given that it has the potential to raise prices of several products at a time inflation is high and sticky. Even state governments are not amenable to the idea of rate hikes at this juncture, given the generalised price pressures in the economy. Moreover, a report by a group of ministers, led by Karnataka chief minister Basavaraj Bommai, for this purpose is yet to be submitted. Under the GST compensation mechanism, which is Constitutionally guaranteed, state governments are assured 14% annual revenue growth for the first five years after the tax’s July 2017 launch. While a much-awaited restructuring of the GST slabs to raise the revenue-neutral rate (RNR), from a little over 11% now to 15.5% could start in a small way this year in areas not prone to inflation, the GST Council will likely consider enforcing a ministerial panel’s recommendations on data analytics to tighten compliance and scrutiny of GST returns to augment revenues by plugging leakages. “There is a huge potential in augmenting revenues through scrutiny of returns,” a senior official said. The Central Board of Indirect Taxes and Customs (CBIC) is currently scrutinising about 35,000 GSTINs (assigned to business entities) for 2017-18 (first year of GST rollout) to see consistency within the returns filed by businesses with regard to input supplies, output supplies, input tax credits and tax payments. “The next batch of GSTINS will be selected through data analytics in two months for 2018-19 for scrutiny,” the official said. Wherever CBIC finds a gap in compliance, it will take it up with taxpayers. Income tax payments by these businesses will also be tallied at the back-end. In an indication of increase in compliance, in April 2022, 10.6 million GST returns in GSTR-3B (a self-declared summary GST return filed every month)were filed, against 9.2 million returns filed during April 2021. The filing percentage for GSTR-1 (a monthly or quarterly return that should be filed by every registered GST taxpayer) in April 2022 was 83.11% as compared to 73.9% in April 2021. Meanwhile, another GoM led by Meghalaya chief minister Conrad Sangma has recommended raising the GST on online gaming from 18% to 28% to bring the skill game tax rate at par with chance games involving gambling and betting, sources said. The council will consider the proposal in its next meeting. The council will also likely consider levying GST on entities that provide a mining platform for cryptocurrency assets and those who use virtual digital assets as a medium of exchange in purchases. Currently, 18% GST is levied only on service provided by crypto exchanges and is categorised as financial services.
Source : Financial Express
The Indian government has recently allowed export of Bangladeshi goods in closed containers, which normally return empty through rail route after delivering Indian export goods to the neighbouring country. This step will help the Bangladeshi textile industry to reduce logistics cost and lead time while supplying their goods to Indian buyers. According to Fibre2Fashion’s market insight tool TexPro, the Central Board of Indirect Taxes and Customs (CBIC), Government of India, had recently issued a notification about the decision. It said that various ministries and trade bodies requested CBIC to allow movement of containerised cargo from Bangladesh into India by rail. Bangladeshi High Commissioner in New Delhi also requested for the same. Previously, containers going from India to Bangladesh by rail were returning empty after delivering India’s export goods there. Hence, Bangladeshi companies had expressed interest to use such empty containers to export their products to India. CBIC said that the carrier will be the trains of Indian Railways plying between India and Bangladesh carrying India’s containerised export goods to Bangladesh (forward Journey) and returning with Bangladesh’s export goods in the same containers (return journey). In both journeys, the trains will cross the international border through one of the specified Land Customs Stations with rail route, namely, Petrapole-Benapone and Gede-Darshana. Industry sources said that the move would be beneficial for the textile industry, particularly because Bangladesh is a sourcing market for Indian industry for large number of finished and intermediary items. Sanjay Jain, Managing Director from TT Limited, told Fibre2Fashion, “It is beneficial for Bangladesh industry as it will reduce their logistics cost and lead time. Bangladesh exports garments and many other intermediary items to India.” Industry experts said that rail route is the most preferred channel for someone importing from Bangladesh. Since land route is shorter compared to sea route, freight charges are lower. Bangladeshi exporters can expect lower cost of logistics as return journey of containers will be cheaper.
Source: Fibre 2 Fashion
Since most countries didn’t have concrete policies on e-commerce, which was an emerging area of trade in even developed countries in 1998, they had decided to establish a work programme on it to hold intensive talks and also impose a moratorium on customs duties on electronics transmission. India will oppose any further extension to a moratorium on customs duty on electronic transmission at the next ministerial of the World Trade Organization (WTO) next month, seeking a change in status quo prevailing over the past 24 years, official sources said on Tuesday. A 2019 study by UNCTAD pointed out that developing countries are losing $10 billion in potential revenue annually, including $497 million by India, due to the moratorium, even going by a conservative estimate. It also revealed that developing countries can generate 40 times more tariff revenue by imposing customs duty on electronic transmission as compared to the developed nations, many of whom have adopted zero bound bound duties on physical imports of digitisable products. The UNCTAD analysis suggests that developing countries suffer more than the developed ones due to the moratorium. WTO members have agreed not to slap customs duties on electronics transmission since 1998 and the moratorium has been extended periodically at successive ministerial conferences. The validity of the current extension is up to the 12th ministerial, which will be held from June 12 to June 15 in Geneva. Many members, mainly the developed countries, are seeking another extension up to the 13th ministerial (whenever it’s held). Since most countries didn’t have concrete policies on e-commerce, which was an emerging area of trade in even developed countries in 1998, they had decided to establish a work programme on it to hold intensive talks and also impose a moratorium on customs duties on electronics transmission. Interestingly, even over two decades later, WTO members have neither defined what constitutes electronics transmission nor come to an understanding on its coverage of products, let alone finding ways to impose the duties. This has made it difficult for countries to even tax imports of products that can somehow be linked to digital goods. “With increasing diffusion of additive manufacturing technology through3D printing, electronic transmissions have now acquired an additional salience in manufacturing physical products. Both these trends are likely to become more prominent in the near future, thereby, bringing electronic transmissions closer to the centre-stage of national economies. This compels a rethink of the role of the temporary moratorium on customs duty on electronic transmissions,” according to a joint communication by India and South Africa submitted with the WTO earlier. “India believes there can’t be a blanket moratorium on this issue for an indefinite period,” a senior commerce ministry official said. Similarly, India wants the work programme on e-commerce invigorated for more intense engagement before firming up rules and disciplines in this area, given the highly asymmetrical nature of the development of e-commerce in the developed world and the developing nations—the latter clearly need more time to do a catch-up.
Source: Financial Express
Along with man-made fibers and technical textiles, the government also wants to promote khadi through this scheme, where the budget provision of Rs 4000 crore is likely to be allocated, said the sources. The government is mulling to bring a second edition of a PLI (Production Incentives Linked) scheme for the textile industry, mainly in the garment and apparel segment, sources told Zee Business. Along with man-made fibers and technical textiles, the government also wants to promote khadi through this scheme, where the budget provision of Rs 4000 crore is likely to be allocated, said the sources. The Ministry of Textiles held a meeting with the industry stakeholders on May 17, 2022 and aims to complete the approval and cabinet process soon by August-September and mostly by October the scheme will be implemented. The new PLI scheme aims to make India a garment hub. In this regard, a LoA (Letter of Authorisation) has been sent to 64 companies under the previous PLI scheme and industry to complete investment process in next 2 years. The market analyst and TradeSwift Director Sandeep Jain termed the Zee Business Exclusive on the new PLI scheme as positive news. He said that the government gives special importance to this sector, as textile has been the biggest employer in India. Being bullish on the overall sector, Jain advised to Buy textile stocks on dips whenever possible. Textile stocks such as KPR Mills, Vardhman Textiles, Gokaldas Exports, Siyaram Silks surged up to 4 per cent higher intraday on the exchanges on Tuesday
Source: Zeebiz
Big news for textile sector! The government will likley announce where a new mega textile park will be built. The announcement is likley to come in a month's time Big news for textile sector! The government will likley announce where a new mega textile park will be built. The announcement is likley to come in a month's time.
- Till now 18 proposals have been received from 13 states
A Preliminary scrutiny done on all proposals receieved by the government.
- The Central team has completes inspections at all the sites.
Consultaions with the industry has already been done.
- A meeting was held on 24 May between Department for Promotion of Industry and
Internal Trade (DPIIT), NITI Aayog and Ministry of Textiles
- The government has sought details with respect to certain projects.
- The announcement is likley to come withing a fortnight.
- The government intends to create 7 mega textile parks under PM MITRA scheme.
- The government has made provisions of Rs 4445 cr for this.
On Monday Zee Business, did a report of how the government was mulling to bring a second edition of a PLI (Production Incentives Linked) scheme for the textile industry, mainly in the garment and apparel segment, citing its top sources. Along with man-made fibers and technical textiles, the government also wants to promote khadi through this scheme, where the budget provision of Rs 4000 crore is likely to be allocated, said the sources. The Ministry of Textiles held a meeting with the industry stakeholders on May 17, 2022 and aims to complete the approval and cabinet process soon by August-September and mostly by October the scheme will be implemented.
Source: Zee Biz
The CEA, however, stressed that the year-on-year growth rate at 4.1%, despite the impact of the third Covid wave and the Ukraine war, indicates that the momentum is intact and “if you look at April numbers on GST, etc, there is considerable momentum in economic activity…” The Indian economy is better placed than other countries and the fear of stagflation is exaggerated, chief economic adviser (CEA) V Anantha Nageswaran said on Tuesday when official data showed economic growth hit a four-quarter low of 4.1%, partly driven by base effect. The CEA, however, stressed that the year-on-year growth rate at 4.1%, despite the impact of the third Covid wave and the Ukraine war, indicates that the momentum is intact and “if you look at April numbers on GST, etc, there is considerable momentum in economic activity…” Stagflation typically refers to a scenario when an economy witnesses a plunge in growth and spike in unemployment and also inflation. Retail inflation hit an almost eight-year high of 7.79% in April. The CEA indicated that, despite mounting subsidy Bill in the wake of the Ukraine war and additional spending commitments, the Centre may still rein in fiscal deficit closer to the Budgetted level of 6.4% of GDP. “At this stage, because we are barely two months into the financial year, any attempt to estimate where the fiscal deficit would end up would be highly speculative. So there is a very good chance that the final number would end up closer to what we estimated for FY23,” he told reporters, while briefing on the GDP data. Commenting on stagflation, Nageswaran said: “Compared to the experience of many developed and developing countries, India is somewhat better placed and more importantly both central bank and the government are seized of the problem and are addressing them. I would at this stage say that stagflationary risks for India are quite low compared to the rest of the world.” The domestic financial sector, the CEA highlighted, is in a better position to help growth and as recovery gathers pace, private sector investment would also pick up more meaningfully. At the same time, India is on a strong foot to tide over any external headwinds and consolidate its growth story better than other countries.The strong foreign exchange reserves of close to $600 billion will act as cushion against external shocks.
Source: Financial Express
Union Minister Piyush Goyal has directed authorities to "finalise the matter early", as regards to the extension of cotton import duty waiver. Amid unprecedented rise in cotton and yarn prices in the current season, Union Minister Piyush Goyal has directed the concerned authorities to "finalise the matter early", as regards to the extension of import duty waiver on cotton till December 31. Government last month exempted all customs duty on import of cotton till September 30, to lower the price of cotton in public interest. The Minister for Textiles and Commerce & Industry held an interactive meeting with the newly constituted Textile Advisory Group in Mumbai on Saturday to address issues relating to augmenting present supplies of cotton and also strengthening productivity. To meet the present requirement, the minister called for facilitating import from destinations where stocks are available and resolving procedural requirements. "While addressing the approaches for augmentation in short-term by import, Textiles Secretary Upendra Prasad Singh advised industry to approach the Ministry of Agriculture & Farmers' Welfare for procedural requirements to enable import from some destinations," an official statement said. "As regards extension of the period of waiver of import duty up to December 31, 2022, Mr Goyal directed the concerned authorities to finalise the matter early," it added. Chairman of the Textile Advisory Group Suresh Kotak stressed the need to ensure seed availability for sowing especially new early maturing varieties and the need to revamp the seed system to enhance productivity of Indian cotton from present stagnation. "Position on availability of cotton now was brought out and a request was made to help logistics to ensure shipping in time from three sources internationally," the Textile Ministry statement said. The predominantly cotton-based textile industry is facing a long-drawn recession on the cotton front as the cotton price has increased from ₹ 44,500 per candy in February 2021, when an 11 per cent import duty was levied on cotton, to ₹ 90,000 per candy in March 2022. The steep increase in cotton price and its impact on the prices of yarns and fabrics is severely impacting the potential growth of the cotton textile value chain. The Central Board of Indirect Taxes and Customs (CBIC) had notified the exemption from Customs duty and Agriculture Infrastructure development Cess for import of cotton. The notification came into effect from April 14, 2022 and will remain in force up to September 30, 2022. Industry has been demanding removal of 5 per cent Basic Customs Duty (BCD) and 5 per cent Agriculture Infrastructure and Development Cess (AIDC) on raw cotton. Addressing the meeting, Mr Goyal exhorted that containment of factors impinging on productivity need to be tackled in a time-bound manner and the industry should participate in self-regulatory mode. CommentsMr Goyal also emphasized the need for protecting cotton crop from pink bollworm attack with contributions from Cotton Corporation of India Ltd, Cotton Association of India, Confederation of Indian Textile Industry and the Cotton Textiles Export Promotion Council.
Source: NDTV
The textile industry sought restoration of zero rating status, duty free import of cotton, continuation of regional competitive energy tariff (RCET), extension of Long Term Financing Facility (LTFF) scheme for the entire value chain in the upcoming fiscal year. A 20 pages budget proposal sent to the ministry of commerce unraveled 21 budgetary proposals for the next financial year of 2022-23 termed them vital for sustainable growth of the textile industry and export target of $30 billion by 2025. All Pakistan Textile Mills Association (APMTA) asked a cut in corporate tax to 25 percent from 29 percent and withdrawal of 1.5 percent turnover tax. The textile Industry also proposed zero present duty structure on dyes and chemicals. Industry has also proposed 7 percent customs duty on the import of polyester staple fiber with total import expenses approximately 20 percent including antidumping duty to be abolished. And it suggested imposing a 15 percent regulatory duty on the import of synthetic yarns entering into the domestic commerce of Pakistan. It also stressed the duty free structure on import of spare parts for export oriented industry arguing that currently, import of major spare parts frequently used in industry are subject to 17 percent and 3 percent sales tax with 5.5 percent income tax. APTMA also proposed that import duty on spare parts for power plants should also be zero arguing that 100 percent of the textile industry is on self-generation of electricity. The industry imports spare parts for keeping power plants operational, import duty on spare parts for power plants added to the cost of production. Textile industry argued that Pakistan's exports in the first 10 months of the current fiscal increased by 26 percent over the previous year to a record of $ 26.25 billion, the majority of which were textiles (61 percent). Growth was enabled by implementation of RCET, investment of over $ 5 billion in expansion and establishment of 100 new textile units resulting in enhanced export capacity of $ 500 million per month. It said textiles have time and again proven to be a viable and long-term answer for leading the country towards exports-led growth and economic stability. “The textile industry is geared towards achieving $26 billion exports next year provided policy continuity and export facilitation by the government remains in focus.” About restoration of zero rating or reduction in rate of GST, textile industry pitched its argument saying that sales tax of Rs296 billion was collected and refunded on an export volume of $15.4 billion last year. While barely Rs18 billion in sales tax was collected on domestic sales which indicates that the total production sold in the domestic market is approximately Rs106 billion. “This translates to the assessment that 90 percent production is being exported while only 10 percent is being used domestically. This massive cycle of sales tax collection and refund operates for a collection of Rs18 billion, and as a result, exporters suffer in the form of delayed, deferred and pending refunds.” Referring to a very recent IMF report, APTMA says the cascading effect of GST has harmed Pakistani exporters’ competitiveness. “Due to the implementation of sales tax, Pakistani exporters charge higher rates at the final stage of dress production as compared to the harmonized system and owing to this very factor, the cost of working capital has skyrocketed. This is the main reason for which the textile industry wants restoration of the SRO 1125 i.e., zero Rating for the entire textile value chain or reduce the sales tax rate to 5 percent in order to meet and make Pakistan exports truly zero rated the additional working capital requirement of the industry.” About import of cotton, Industry said given the performance of the sector and the very achievable textile export target of $ 30 billion by FY2025, it is essential to increase the cotton production or availability from 7.5 million bales to 20 million bales within 3 years. Cotton stock costs have grown sevenfold. Cotton trading has climbed from Rs8,000 per maund to Rs22,000 per maund, requiring three times the amount of money for the same amount of cotton. So the industry recommended duty free import of cotton for the whole next fiscal. The Industry also asked for abolishing 17 percent sales tax on ginned cotton should be withdrawn which would effectively transfer a better price to the farmers. Mentioning the energy issues, APTMA asked for continuation of RECT with provision of electricity at 7.5 percent and gas at 6.5 per MMBTU arguing it is vital for continuity in growth. And to ensure the liquidity and credit availability, industry asked for extension of LTFF scheme to the entire value chain since the whole value chain requires upgradation and modernization to meet export targets. It also asked the government that LTFF be provided to direct and indirect exports. Industry also proposed that LTFF should be extended to building Infrastructure costs of Garments and Knitwear sectors.
Source: The News
China will roll out new measures to remove barriers in its foreign trade and strengthen the stability of its supply chains, according to its ministry of commerce, which recently said one such measure will seek to alleviate the pressure of international logistics. Foreign trade firms can now apply for vehicle passes from local governments to transport key materials. The government will facilitate smooth domestic transportation of foreign trade goods, and help COVID-affected foreign trade companies resume production as soon as possible, ministry spokesman Gao Feng told an online news briefing. Gao said the government will expand the scale of direct docking business services between global shipping groups and foreign trade companies, as well as provide more container spaces for small and medium enterprises to sell their products overseas, official Chinese media reported. The State Council, China's cabinet, released a circular a few days back to guide foreign trade enterprises through current challenges and maintain steady and high-quality growth of the sector to stabilise the economy and industrial and supply chains. Local governments should establish services and safeguard systems for key foreign trade enterprises, and keep track of and solve their difficulties in a bid to support their production and operations. Support from related departments will be provided to stabilise foreign trade supply chains for businesses affected by COVID-19, the circular said. The circular reiterated that smooth logistics for foreign trade goods will be ensured. While incorporating them into priority goods categories in transportation, local governments should streamline logistics procedures to reduce the waiting time for berths on international liners, and ensure the transport of important parts, devices and products. China's foreign trade rose by 7.9 per cent year on year to 12.58 trillion yuan ($1.88 trillion) in the first four months of the year, data from the general administration of customs showed. The ministry will enlarge the growth space of China's high-level opening-up platforms like foreign trade transformation and upgrading bases, comprehensive cross-border ecommerce pilot zones and pilot free trade zones to further optimise the nation's business environment. China will also work with member economies of the Association of Southeast Asian Nations to actively build the 3.0 version of China-ASEAN Free Trade Area, and build strong regional economic and trade relations, he added.
Source: Fibre 2 Fashion
Effects of the COVID crisis can still be seen in railway activity in Europe as volume and revenue losses continue, even though rail traffic is growing in the continent, according to the latest update of the CER Crisis Impact Tracker (April 2022), carried out by the Community of European Railway and Infrastructure Companies (CER). Freight volumes were down by almost 10 per cent in March 2022, compared to March 2019. Although freight volumes almost reached pre-crisis levels in December, they dropped again in March to -9 per cent. Revenues however almost stabilised to their pre-crisis level between December 2021 and March 2022. Sustained revenues in a context of decreasing volumes may, however, hide the repercussions of increasing energy costs on final prices, partly to the detriment of operators’ margins, according to the CER. CER executive director Alberto Mazzola said: “While it is encouraging to see that rail traffic is growing, with a strong increase in private long-distance rail passenger traffic, commuter services and business travel remain quite low compared to before the COVID crisis. Rail companies continue to accumulate losses in these fields and further evolution is important for the provision of public services. At the same time, the European rail community continues to express its solidarity towards the people of Ukraine and to support ongoing international and European aid efforts.”
Source: Fibre 2 Fashion
Holding Textile Hermès, a part of the luxury goods company Hermès, and its Bucol textile brand have obtained GOTS Certification to reaffirm their eco responsible commitment towards a more sustainable fashion world. Bucol silk and cotton products are already OEKO-TEX certified. The silk and cotton fibres used by Bucol are sourced organically. The chemical substances used in Bucol’s products are carefully selected to be less harmful for mankind and nature, a rigorous traceability is followed during production processes and precise social criteria are respected, the company said in a media release. “Our goal is to live with values of present time, to contribute to an effort of producing textiles with respects towards our grounds and therefore more virtuous for future generations,” explained Florent Wongeczowski, director of operations for Bucol. “Since its beginnings, Bucol has been committed to offer its clients’ high-end textiles with an exceptional level of quality. Its people are at the centre of its creative process, anchored in modernity and in the universes of fashion and accessories. Bucol appeals to the rarest expertise of the Lyon region such as the warp print technique or knife cut velvet and works with the best craftsmen either from its own house or from its external partners. Because of this, Bucol is naturally moved by ethical and environmental issues,” the release added. Holding Textile Hermès, which Bucol belongs to, has received GOTS Certification by Ecocert under license number 228603.
Source: Fibre 2 Fashion
A 10-member delegation led by Jorge Gomez Garcia, the sourcing manager of Mexican retail giant Coppel, is set to visit Bangladesh in July to help the retailer increase its sourcing of readymade garments (RMG) and other products like home textiles, undergarments and jute products from the country. Coppel’s imports from Bangladesh have gone up from $5 million to $20 million in the last few years. During a recent discussion with Abida Islam, Bangladesh ambassador to Mexico, Coppel had shown interest in purchasing RMG, home textiles, undergarments and jute goods among other products from Bangladesh. The retailer is also interested in meeting with manufacturers and suppliers of these products, said Bangladeshi media reports quoting a letter written by Islam to Tapan Kanti Ghosh, senior secretary of Bangladesh’s commerce ministry. Coppel operates over 1,600 department stores in 700 cities in Mexico
Source: Fibre 2 Fashion
The Commerce Ministry looks set to promote and upgrade hemp fibre in the Thai textile industry as it offers high potential in the global market under the popular bio-, circular and green economic model. According to Phusit Ratanakul Sereroengrit, director-general of the International Trade Promotion Department, the plan aligns with the government's ongoing efforts to push hemp as a new potential economic crop for commercial use. Hemp and cannabis had been classified as narcotics under Category 5 under the Narcotics Act of Thailand for many years. The extensive medicinal properties of both cannabis and hemp have long been known. In 2019, the possession and use of cannabis for medical and research purposes under certain conditions was legalised for the first time in Thailand. In December 2020, the legalisation of cannabis and hemp became more concrete and conspicuous after many parts of the cannabis and hemp cultivated in Thailand were allowed to be exempted from being considered narcotics under Category 5 through a notification from the Public Health Ministry. In early 2022, declassification of cannabis and hemp happened via another Public Health Ministry notification published in the Royal Gazette on Feb 9. This notification "unlocked" cannabis and hemp from narcotic classification, creating opportunities for the general public and business owners to use them for a wider range of purposes. "The department foresaw the potential to promote hemp in textiles and products for export because it is a natural fibre with many special properties," said Mr Phusit. "The production process is environmentally friendly and able to respond to global market trends." The world market for textiles and garments made from fibres and hemp products is now estimated at more than 140 billion baht, with the figures expected to grow by 22.4% between 2022 and 2027 based on growing demand. In a move to capitalise on the global trend, the International Trade Promotion Department established a project to develop and promote the export of textiles and garments made from fibres and hemp products to tap into market demand worldwide. In-depth market information and business development guidelines for hemp products will be provided to support Thai entrepreneurs to develop their products and enable them to compete in international markets. In the first quarter of 2022, Thai textile product exports (excluding textile housing) tallied US$1.72 billion, up by 13.8% year-on-year. The most important export markets included the US, Japan, Vietnam, Indonesia, Bangladesh, Cambodia, Myanmar, India and Germany. The major export products comprised garments worth $602 million (34.9%), fabric and yarn worth $552 million (32%) and other textiles including artificial fibres, embroidered and lace fabrics, fishing nets, tailoring and crafted fabrics, shawls and scarves worth a combined $571 million (33.1%).
Source: Eurekalert
Eurobodalla Fibre and Textile Artists Group (EFTAG) are running their annual exhibition and for 2022, the theme is Soar. The EFTAG annual exhibition is an opportunity for local artisans to display and sell their different creations. EFTAG member Julie Brennan said each exhibition was such a joy for local artists because artwork was designed to be looked at. "An artist communicates," Ms Brennan said. "You need people to see the work. "Art can help people see something in a new way they may not have seen before." She said the exhibition pushed the limits of what could be done with fabric. "There are so many ways of working with textiles," she said.
Source: Narooma News Online
