INTERNATIONAL
Textile Raw Material Price 2016-05-04
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1061.52 |
USD/Ton |
-0.72% |
5/4/2016 |
|
VSF |
2039.71 |
USD/Ton |
0.15% |
5/4/2016 |
|
ASF |
1944.05 |
USD/Ton |
0% |
5/4/2016 |
|
Polyester POY |
1049.17 |
USD/Ton |
0% |
5/4/2016 |
|
Nylon FDY |
2314.35 |
USD/Ton |
0% |
5/4/2016 |
|
40D Spandex |
4474.41 |
USD/Ton |
0% |
5/4/2016 |
|
Nylon DTY |
5753.47 |
USD/Ton |
0% |
5/4/2016 |
|
Viscose Long Filament |
1303.75 |
USD/Ton |
0% |
5/4/2016 |
|
Polyester DTY |
2167.77 |
USD/Ton |
0% |
5/4/2016 |
|
Nylon POY |
2121.49 |
USD/Ton |
0% |
5/4/2016 |
|
Acrylic Top 3D |
1172.60 |
USD/Ton |
0% |
5/4/2016 |
|
Polyester FDY |
2545.79 |
USD/Ton |
0% |
5/4/2016 |
|
30S Spun Rayon Yarn |
2815.79 |
USD/Ton |
0% |
5/4/2016 |
|
32S Polyester Yarn |
1728.05 |
USD/Ton |
0% |
5/4/2016 |
|
45S T/C Yarn |
2468.64 |
USD/Ton |
0% |
5/4/2016 |
|
45S Polyester Yarn |
2160.06 |
USD/Ton |
0% |
5/4/2016 |
|
T/C Yarn 65/35 32S |
2993.23 |
USD/Ton |
0% |
5/4/2016 |
|
40S Rayon Yarn |
2268.06 |
USD/Ton |
0% |
5/4/2016 |
|
T/R Yarn 65/35 32S |
1866.91 |
USD/Ton |
0% |
5/4/2016 |
|
10S Denim Fabric |
1.37 |
USD/Meter |
0% |
5/4/2016 |
|
32S Twill Fabric |
0.82 |
USD/Meter |
0% |
5/4/2016 |
|
40S Combed Poplin |
1.17 |
USD/Meter |
0% |
5/4/2016 |
|
30S Rayon Fabric |
0.69 |
USD/Meter |
0% |
5/4/2016 |
|
45S T/C Fabric |
0.69 |
USD/Meter |
0% |
5/4/2016 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.15429USD dtd. 05/04/2016)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Tirupur, the main hub for knitwear in the country witnessed growth in its garment exports by 16.3 percent to Rs23,050 crore in fiscal year 2016. It contributes nearly 90% of total cotton knitwear exported from the country. A Sakthivel, President of Tirupur exporters association opined that exports from Tirupur would sustain growth in the current fiscal too following good demand from EU and this can be doubled if the Free Trade agreement (FTA) is finalized. They have seen growth in Europe and getting new buyers. Exports can jump to Rs.50,000 crore if the FTA with EU is in place. Last year, Tirupur’s garment exports was worth Rs.20,730 crore. Garment manufacturers of Tirupur are now looking forward to further enhance their business. Last month, the World Bank shared a release which said China, the largest apparel manufacturer for last 10 years, has been seen slowly relinquishing its lead position in the global apparel market, thereby opening the doors to other competitors across the globe. This could also open up a huge opportunity for India and other South Asian nations. A 10% growth in Chinese apparel prices could create at least 1.2 million new jobs in the Indian apparel industry. The total share of China’s textile exports fell from nearly 15% to 7% last year while, India’s total apparel exports were $7.78 billion in 2015, and its top five markets were the US, UAE, the UK, Germany, and France.
SOURCE: Yarns&Fibers
Government with the approval of the Minister of State (I/C), Ministry of Commerce and Industry Smt Nirmala Sitharaman has decided to extend the market coverage to all countries in respect of Merchandise Export from India Scheme (MEIS) 2787 lines. Henceforth, Landing Certificates shall not be required under MEIS w.e.f. 04.05.2016. A Public Notice No.06 has been notified in this regard. Accordingly, revenue foregone under the scheme has been revised from Rs.21,000 crore per annum to Rs.22,000 crore per annum. This step has been taken as part of ease of doing business and reduction of Transaction Cost of the exporters.
The Merchandise Export from India Scheme (MEIS) was introduced in the Foreign Trade Policy (FTP) 2015-20 on April 1, 2015. MEIS aims to incentivize export of merchandise which are produced/manufactured in India. At the time of introduction of MEIS on April 1, 2015, the scheme covered 4914 tariff lines at 8 digit level. Countries of the globe were grouped into 3 market categories (Country Group A, Country Group B & Country Group C) for grant of incentives under MEIS. Slight changes in lines covered etc. were made on 14.07.2015 and 15.7.2015. Thereafter on 29.10.2015, 110 new Tariff Lines at 8 digit level were added under the scheme. The rates/country coverage for 2228 lines at 8 digit level were enhanced. As on date, 5012 Tariff Lines at 8 digit level are eligible for rewards under MEIS. The annual resource allocation under MEIS was enhanced from Rs.18,000 crore to Rs. 21,000 crore in October 2015. The MEIS Scheme covers 5012 tariff lines.
Under MEIS Markets/countries of the globe are grouped into 3 categories for grant of incentives under MEIS:-
Category A: Traditional Markets (34)
Include European Union (28), European Free Trade Association(EFTA) (Switzerland, Norway, Iceland and Lichtenstein-4), USA and Canada(2).
Category B: Emerging & Focus Markets (140)
Include Africa (55), Latin America and Mexico (45), CIS countries (12), Turkey and West Asian countries (13), ASEAN countries (10), Japan, South Korea, China, Hongkong and Taiwan(5).
Category C: Other Markets (64)
Products which were not eligible to get incentives in all markets required submission of Landing Certificate as a proof of landing in the designated market. Out of total 5012 tariff lines under MEIS, incentives to 2787 lines was available only to limited countries. Therefore, it required submission of Landing Certificates for claims. Government had received many representations pointing out difficulties in obtaining landing certificate from Shipping Lines/Agents etc. Exporters also had to bear associated charges/cost on account of this procedure.
Keeping in view these facts, the Government with the approval of the Commerce and Industry Minister has decided to extend the market coverage to all countries in respect of these 2787 lines. Henceforth, landing certificates shall not be required under MEIS w.e.f. 04.05.2016.
SOURCE: PIB
The number of handloom weavers in the country has declined due to lack of income which has led many families to move away from the profession, Lok Sabha was informed. Textiles Minister Santosh Gangwar said in a bid to improve the state of handloom weavers, the government has come up with a vision under which it plans to ensure a Rs 500 per day income for weavers. He said an India Handloom brand has also been launched to assure people of the quality of the products, while August 7 was observed as national Handloom Day to promote the industry. "We are getting good results," the minister said, adding that the amount which is sanctioned to create a cluster now has been enhanced from Rs 60 lakh to Rs 2 crore. Responding to supplementaries, he said efforts were being made to increase the output of both handlooms and powerlooms. In his written response, Gangwar pointed out that lack of modernisation, poor production infrastructure, weak financial strength, dependence on middle-men and fluctuating input costs were the key problems of the powerloom sector.
SOURCE: The Economic Times
The 42nd India International Knit Fair for spring summer collection organized by India Knit Fair Association will be held in Tirupur from May 11, 2016. Union Textiles Secretary Rashmi Verma will address an Exporters' Meet on May 10 and inaugurate the fair the next day in the presence of Apparel Export Promotion Council Chairman Ashok G Rajani. The India Knit Fair has emerged as one among the most reputed knitwear trade fairs in the world and aims to showcase the end-to-end products pertaining to the knitwear segment. The organizer India Knit fair Association's Chairman A Shaktivel said that the three day fair will put on display women's apparel, knitted T-shirts, skirts, blouses, knitwear, casuals and children's wear. The fair will see participation of 65 buyers and 100 buying agents from different countries, including Australia, Dubai, Brazil and Japan. The live and physical demonstration of Fashion Show will display the latest Collection on models, beautifully choreographed would be executed by the top-most fashion show agency with leading female and male models hailing from different parts of the nation for all the three fair days. This will bring the Indian knitwear industry on to international fashion stage. The fair to be held from 11-13 may,2016 at IKFA complex, Tirupur, India. This time, the spotlight will be on the Autumn / Winter / Mid Summer Collection 2016 with a complete display of latest fashion wear.
SOURCE: Yarns&Fibers
Twenty-nine port-based coastal industrial centres, planned under coastal economic zones, are expected to boost exports by $110 billion besides creating one crore new jobs, the government said. The clusters are planned in the vicinity of India's top 12 major ports. "Twenty-nine port based/coastal industrial clusters have been proposed across 14 coastal economic zones ... The consultants have projected that these industrial cluster projects will enable creation of approximately 1 crore new jobs, including 40 lakh direct jobs and boost exports by $110 billion in the next 10 years," Minister of State for Shipping Pon Radhakrishnan told Lok Sabha in a written reply. While Kandla port will have petrochemicals, cement and furniture-based industries, JNPT will have power, electronics and apparel projects, the Minister said. Petrochemicals and marine processing are planned at Paradip while Kolkata will have leather processing industries, he said. The projects have been formulated as part of National Perspective Plan (NPP) for the Sagarmala programme, which is an ambitious project for port-led development of India's coastal cities. "The industrial cluster projects have an implementation time schedule of up to 10 years with an estimated infrastructure investment of Rs 1 lakh crore and are projected to attract additional industrial investment of Rs 7 lakh crore," the Minister said.
SOURCE: The Economic Times
In an initiative that will make it easier for exporters to claim incentives, the Centre has decided to extend the market coverage under the Merchandise Export from India Scheme (MEIS) to all countries. This means that the notified benefits for exports of the identified 2787 categories of items (tariff lines) will be provided for shipping to all countries and not specific ones. “Henceforth, landing certificates shall not be required under MEIS with effect from May 4, 2016,” an official release said. Accordingly, revenue foregone under the scheme has been revised from Rs. 21,000 crore per annum to Rs. 22,000 crore per annum. “This step has been taken as part of ease of doing business and reduction of transaction cost of the exporters,” the release added. The MEIS was introduced in the Foreign Trade Policy 2015-20 on April 1, 2015, to incentivise export of goods manufactured in India. At the time of introduction of MEIS on April 1, 2015, the scheme covered 4914 tariff lines at eight-digit level. Countries were grouped into three market categories for grant of incentives. As on date, 5012 tariff lines are eligible for rewards under MEIS. Under the scheme, the government provides duty benefits at 2 per cent, 3 per cent and 5 per cent depending upon the product and country.
SOURCE: The Hindu Business Line
Dismissing allegations made against the government on social media, the Commerce Ministry today said India has not signed any agreement in the WTO which could lead to closure of ration shops and discontinuation of farm subsidies. It said the Department of Commerce has come across a Tamil video posted on Facebook where activist Thirumurugan Gandhi has made factually incorrect statements regarding signing of an agreement to stop distribution of rice and other provisions through public distribution system, discontinuation of agricultural subsidies and allowing import of food items. "This is completely wrong. No such agreement was signed. There were no proposals for closure of ration shops, for discontinuing subsidies to farmers or for allowing imports of food items," the ministry said in a statement. The allegations about the government stopping procurement of rice/food products and subsidies to farmers is also "completely wrong," it added. It said Gandhi's claim that the agreement has been kept secret is "not only baseless", it also reflects upon the knowledge of the speaker about the procedures of the World Trade Organization (WTO). The tenth ministerial conference of the WTO in Nairobi has resulted in decisions in the area of agriculture and development and some issues relating to the least developed countries. "The WTO rules do not bar public procurement for food security purposes. As far as the limit of support is concerned, India has been working to have the WTO rules in this regard updated," it said. "This is to ensure that we are not constrained by the WTO rules in making public procurement in future also," it said. The ministerial decision on the issue of public stockholding for food security purposes was achieved mainly due to the efforts made by India. The ministry said it has ensured that no country will ever be able to challenge India's procurement/public food distribution programmes for violation of the relevant WTO rules.
At the Nairobi conference, the government has further ensured that the WTO will have to continue to work on this issue, even if there is no progress on other issues under negotiation, it said. India is conducting minimum support price scheme for distribution of rice and other food items through the PDS via FCI and the agencies of states, it said. "This system will in no way be impacted by any of the Decisions taken at the WTO ministerial conference," it said. Similarly, it said, there will be no impact of the decisions on the procurement from the farmers at the MSP, which India will continue to announce as before. The decision does not, in any way, affect the ability of FCI to procure and store foodstuffs in its godowns, it added.
SOURCE: The Economic Times
With the India-EU FTA negotiations deadlocked, a top European Parliament member has said the two sides could explore the option of a "less ambitious" trade pact and indicated that there could be a separate negotiator for the crucial talks. "May be some of the riders (in the proposed free trade agreement) are a bit too ambitious in certain areas," Geoffrey Van Orden, a Member of the European Parliament (MEP) and the Chair of the European Parliament's Delegation for relations with India, told a visiting group of Indian journalists here. He said the two sides could look at "exploring something slightly less ambitious" but asserted that first it is important to ascertain that why is there this "great holdup" and why there is a "lack of enthusiasm" for the pact. Asked if it was Brexit or the ongoing talks on the Transatlantic Trade and Investment Partnership (TTIP) between the EU and the US holding the Broad-based Trade and Investment Agreement (BTIA), Van Orden said, "there is a certain validity" to the notion that TTIP was having an impact on the progress of the BTIA. "I think because a lot of effort is going into TTIP and for a long time we have the same negotiator responsible for all of these agreements and we called upon the commission to appoint a separate negotiator for the BTIA. So I do think the capacity to deal with several major free trade agreements may be is lacking," the British Conservative Party politician and a former Army officer said. Asked if there will now be a separate negotiator for the BTIA talks, Van Orden did not give a direct answer saying, "I understand that now the arrangements are slightly different." Van Orden said that there was expectation that trade representatives from the two sides would be meeting on the sidelines of the G20 meeting in China in September. "One of the things we hoped would come out of that summit (India-EU) would be a real new impulse to the negotiations on the free trade agreement. Formally it doesn't seem to have been that great impulse on either side," the MEP said. "There is some very weak language in the communique and the expectation is that there would be further meetings on the margins of the G20 Summit that is to take place in China in early September," Van Orden said. He said as a member of the European Parliament, he has put in a question to the European Commission to know when will the next round of FTA talks take place. "I have not yet had a response to my question," he said. Asked if a watered down agreement would be good, Cora van Nieuwenhuizen, vice chair of the Delegation for Relations with India, also answered in the affirmative. Asked if it would be prudent to go for a less ambitious deal considering the progress on the FTA is sluggish, she said, "I would prefer that". "Opening up of some of the service sectors, these sorts of things, it goes on. Everything just doesn't stop because of the BTIA. There are a lot of other things that are going on," Van Orden said. Asked if the FTA was a make or break agreement, he said, "It's one of the number of arrangements".
Describing him as an "excellent" Prime Minister, Van Orden lauded Modi's vision and schemes. "I am a great fan of Mr Narendra Modi. I think he is just what India needs at this moment. That might be controversial to some of you for me to say that and I know he can be controversial at home but he has got the energy and vitality that is needed to arouse India from a certain sort of a stupor it was in some recent years and get it moving," Van Orden said. Prime Minister Modi is the first to recognise he has a lot of difficulties but if you take some of these projects like "'Make in India' or the clean Ganges, the new generation sustainable energy, getting out to all the villages with the electricity and all these sorts of things, there are a lot of big infrastructure projects. There is a lot that we can offer and that free trade agreement is not going to be the answer to everything. I am not that naive but it would help get things moving," he said. Nieuwenhuizen also praised Prime Minister Modi for his mantra of removing red tape and rolling out the red carpet for investors. However, talking about the practical application of the mantra in India, she said, "For what I hear it is not a 100 per cent success but we know from our experiences here its an uphill battle. For what I hear, efforts are good but it is not finished." Total bilateral trade between India and the EU, which is India's largest trading partner, stands at 78 billion euros in 2015. "It is better to take small steps and move on than aiming for very high goal that is not achievable in the near future. So any progress is progress. I think we should try to take small steps if the big ones are not possible yet," she told the journalists at an interaction here. "I would like it (the FTA) to be more ambitious but if that is not possible...I think we should relate more on other topics because if you are among friends you move faster on all the files and if you never meet, you never become friends," Nieuwenhuizen said. She stressed that there should be meetings on other topics and if that is done probably the atmosphere will change and it could become easier to make progress on trade as well. At the India-EU Summit in March, for which Prime Minister Narendra Modi travelled to Brussels, both sides failed to make the much-awaited announcement on resumption of long stalled negotiations for a free trade agreement as many bottlenecks still remain. Van Orden criticised the "vague" reference to the BTIA in the communique issued after the summit. "The trouble with those communiques is that they are drafted in advance of summits. There might be a few odd changes here and there, another sentence, or something like that. The paragraph that was there about BTIA. You couldn't have found more vague language," he said.
Asked if Brexit, Britain's exit from the 28-nation bloc that was to be decided in a referendum on June 23, was holding BTIA, Van Orden said, "I don't think so at all. There is no reason why progress should not be made on this, meetings should not take place. We can't hold our breadth waiting for one thing to happen." Also last week, Daniel Rosario, Spokesperson Trade, Directorate-General Communication -- European Commission, had asserted that automobiles and wines continue to be the sticking points in the long-stalled negotiations for the proposed FTA with India. He had said the two sides should restart talks only after they have "something meaningful" to deliberate upon. India had deferred FTA talks with the bloc in August last year over the European Union (EU) banning sale of around 700 pharma products clinically tested by GVK Biosciences.
Speaking on the issue, Rosario had said India's decision to defer the talks was "not justified". Talking about President of the European Parliament Martin Schulz's visit to India, Van Orden said, "My understanding is that he is visiting in December." On reports that he could visit in June, Van Orden said, "so much the better" .He emphasised that the FTA was important for the EU-India relationship but pointed out that there are "a lot of other things" happening and were talked about in the joint communique in terms of strategic partnership, in terms of terrorism and in terms of European Investment Bank's investments. "There were a whole range of issues that were covered in that communique. So there is a good strong relationship there on various fronts. Don't forget many things which have happened on a bilateral basis," Van Orden said.
SOURCE: The Economic Times
The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 43.04 per barrel (bbl) on 05.05.2016. This was higher than the price of US$ 42.26 per bbl on previous publishing day of 04.05.2016.
In rupee terms, the price of Indian Basket increased to Rs. 2862.28 per bbl on 05.05.2016 as compared to Rs. 2811.68 per bbl on 04.05.2016. Rupee closed stronger at Rs 66.51 per US$ on 05.05.2016 as against Rs 66.54 per US$ on 04.05.2016. The table below gives details in this regard:
|
Particulars |
Unit |
Price on May 05, 2016 (Previous trading day i.e. 04.05.2016) |
Pricing Fortnight for 01.05.2016 (13 Apr to 27 Apr, 2016) |
|
Crude Oil (Indian Basket) |
($/bbl) |
43.04 (42.26) |
41.08 |
|
(Rs/bbl |
2862.28 (2811.68) |
2732.23 |
|
|
Exchange Rate |
(Rs/$) |
66.51 (66.54) |
66.51 |
SOURCE: PIB
Indonesia and Saudi Arabia see a lot of potential for expansion; especially Saudi Arabia is one of the biggest potential markets for Indonesia in the Middle East. Hence the two countries has agreed to double their bilateral trade value by 2020. Trade Ministry expert for trade services Arlinda Imbang Jaya said that the total trade between Indonesia and Saudi Arabia amounted to US$8.5 billion in 2015. Indonesian exports to Saudi Arabia amounted to $3.35 billion in 2015, while imports were worth $5.14 billion. Arlinda, while receiving a Saudi business delegation at her office in Jakarta on Wednesday said that the figures are yet to reflect the potential of both countries. Saudi Arabia expressed its interest in cooperating with various business players including those running professional nursing care, producing pharmaceutical products, cosmetics and medical equipment. Indonesia’s main export commodities to Saudi Arabia are textile, textile products, cars, palm oil, tuna, rubber and rubber products, plywood, paper and paper products, pulp and charcoal.
Indonesian businesses have been urged to increase the quality of their products to meet the requirements set by the Saudi authority, the Saudi Standards, Quality, and Metrology Organization (SASO). Head of the Chamber of Commerce and Industry in Mecca Maher Jamal said that the trade partnership between Indonesia and Saudi Arabia did not match the political and cultural ties. Saudi Arabia is ready to facilitate and help Indonesian companies to expand their businesses in Saudi Arabia. Saudi Arabia will participate in exhibitions staged by Indonesia at the same time Indonesia will also be participating in exhibitions held in Saudi Arabia. This will help reach the goal of increasing the trade value by 15 percent every year between Indonesia and Saudi Arabia.
SOURCE: Yarns&Fibers
The fourth three-day Made in Pakistan exhibition 2016 being organized by the Rawalpindi Chamber of Commerce and Industry (RCCI) began in Kabul on Wednesday with more than 50 stalls textile and handicrafts, leather goods, gems and jewellelry, paint and hardware, heating ventilation air conditioning and refrigeration (HVACR), electronic goods, building material, furniture and services sector have been placed for the exhibition. Exhibition Committee Vice chairman Khursheed Barlas and a large number of Pakistani traders are participating in the three-day expo. RCCI President Mian Humayun Parvez, who is in Kabul, said that Pakistan and Afghanistan enjoy good cordial relations and expressed the confidence that with increasing cooperation in trade and business, these ties would be further cemented. The current volume of trade in the region is 4.5%, which could be enhanced to 20% with concerted efforts. Mian Humayun Parvez also appreciated the role of Afghan Chamber of Commerce and Industry, Pak-Afghan Joint Chamber and embassies in Islamabad and Kabul for extending their support and cooperation in holding such exhibitions. The Rawalpindi Chamber is putting its maximum efforts for enhancing trade and business ties with Afghanistan and other countries of the region. The trade ties between the two countries can be further increased with frequent exchange of trade delegations, hassle free custom clearance, easing taxation and custom duties and with better transportation links.
SOURCE: Yarns&Fibers
The next Intertextile fair – Intertextile Pavilion at the Shenzhen International Trade Fair for Apparel Fabrics and Accessories 2016 – will provide the international apparel fabrics and accessories industry with further opportunities to benefit from, this time in South China as the recent Spring Edition of Intertextile Shanghai Apparel Fabrics saw strong enthusiasm with the Chinese market. Intertextile Pavilion Shenzhen is organised by Messe Frankfurt (HK) Ltd; the Sub-Council of Textile Industry, CCPIT; the China Textile Information Centre; and the Shenzhen Garment Industry Association. Nearly 700 exhibitors will showcase from 7 – 9 July at the Shenzhen Convention & Exhibition Center in halls 6, 7 and 9 across 30,000 sqm, an array of high-quality fabrics for ladieswear, casual wear, lingerie & swimwear and suiting, the latest silk & silk-like, jacquard, print, wool & wool-like, cotton, functional, man-made, spun, denim and knitting fabrics, as well as accessories, lace & embroidery, leathers & furs, yarns & fibres and design & testing products and services. In addition, the fashion garment fair – 16th China International Brand Fair Shenzhen (halls 1, 2, 3 and 4) and a fashion show (hall 5) – will take place concurrently.
Ms Wendy Wen, Senior General Manager of Messe Frankfurt (HK) Ltd, speaking on the South China market said that Guangdong province’s garment production output has been growing rapidly over the last year. In 2015, a total of 6.5 billion units of clothing were produced there, representing a 2.5% growth compared to 2014. Because of this, the demand for apparel fabrics and accessories in the South China market has been steadily increasing. Ms Wen also highlighted about the fair’s favourable location. There are over 2,000 garment manufacturers and more than 800 fashion brands located in the city of Shenzhen, and with the easy commuting distance between Hong Kong and other cities in Southern China, this fair attracts many top fashion brand buyers every year.
In the 2015 edition, over 14,800 buyers from 26 countries and regions attended the fair, including well-known international fashion brands such as BBLLUUEE, Crocodile, Diesel, G2000, Initial, INSUN, Miss Sixty, Mothercare, Pepe Jeans London, Replay, s.Oliver, Urban Revivo and Zara. The exhibitor participation profile shows that Intertextile Pavilion Shenzhen is particularly popular with Asian suppliers. As of this month, not only have the Taiwan Pavilion, organized by the Taiwan Textile Federation (TTF), and the Korea Pavilion, organized by the Korea Fashion Textile Association (KFTA) and Daegu Gyeongbuk Textile Industries Association (DGIA), confirmed their return, but the debut Fine Japan zone is also set to be formed by a number of leading Japanese suppliers. A range of high-quality cotton and man-made fabrics for ladieswear as well as causal wear with quick delivery service will be featured in the zone. Mr Ryu Hong-Kun, General Manager of the Korea Textile Center, was one of the Asian exhibitors last year said that numerous serious buyers visiting their booth and many of them were from the South China market. Therefore, the Shenzhen fair is definitely an effective platform for them to promote their new products and expand their business in this market. Intertextile Pavilion Shenzhen’s main purpose is to allow the global industry to further establish their business in this promising market.
SOURCE: Yarns&Fibers
The increasing use of nanotechnology in smart textiles is one of the major factors driving the global smart textile market, according to a new market report. According to the research study, in 2014, the global smart textiles market was worth US$700million and is estimated to reach a value of US$7,730m by the end of 2023. The market is projected to grow by 30.80% between 2015 and 2023. The adoption of nanotechnology helps in enhancing the fabric with several features such as water and stain resistance, UV protection, and anti-bacterial properties. Smart textiles are also embedded with electronic devices and other components, owing to which their production cost is quite high and is thus acting as a restraining factor for the growth of the global smart textile market. The global smart textile market comprises sports and fitness, entertainment, healthcare, automotive and military/defence. In 2014, the military and defence segment led the overall market, holding a 28.7% share in the global smart textile market. In 2014, North America dominated the overall market holding a 40.1% share in the global smart textile market, followed by Europe. The North America market is predicted to remain in the leading position and register a high growth rate in the forecast period. The report - entitled "Smart Textile Market by function (energy harvesting, sensing, thermoelectricity, luminescent and others), and by application (Health care, military and defence, entertainment, automotive, sports and fitness and others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023" - can be ordered from Market Research Reports Search Engine (MRRSE).
SOURCE: The Laundry and Cleaning News
Intertek, a leading Total Quality Assurance provider, welcomed Shadow Home Secretary Andy Burnham MP to officially open the UK's largest one-stop textile testing laboratory. Intertek has extensively renovated and expanded its 30-year old site in Leigh, near Manchester, to incorporate under one roof the UK's largest textile flammability laboratory, a new chemical laboratory, as well as upgraded textile testing capabilities. Opening the site, Andy Burnham, MP for Leigh said: "I am proud to open this modern new facility which maintains a link with Leigh's past in textiles." Rob van Dorp, chief executive, UK & Eire, Intertek said the one-stop testing facility will support UK international manufacturers and retailers with quality and performance assurance, testing, inspection, and certification services including flammability, fire analysis and chemical testing on a broad range of textile products including protective clothing, fashion apparel, children's clothes, curtains, duvets, pillows and sofa covers.
SOURCE: The Laundry and Cleaning News
Minister for Industry Som Prasad Pandey has stressed on the need to tap into areas that would create employment opportunities to stop the mass exodus of youths and to give impetus to exports of locally manufactured goods. “It is time for the country to shift from political revolution to industrial revolution and focus on increasing the production in the country,” he added. Speaking during inauguration of 13th Handicraft Trade Fair and 11th Craft Competition here today, Minister Pandey also stressed on the need to promote local handicraft as it represents the unique art and culture of the country. On the occasion, Minister for Commerce Jayanta Chand said the country offered many possibilities for tourists and stressed on need to enhance Nepal’s popularity through its handicraft works. The five-day fair, with the theme ‘Prospect for Prosperity’ aims to popularise and promote local handicraft products in the domestic as well as the international markets. The annual fair is housing six pavilions and 177 stalls this year, showcasing textile products like pashmina, silk and dhaka as well as non-textile products like silver jewellery and handmade paper products, among others. Handicraft producers from India, Bangladesh, Pakistan and Bhutan have also participated in the fair. Meanwhile, importers from China, Japan and Bhutan are also slated to participate in the event by holding business-to-business meetings with the producers, as per the organisers. Visitors to the fair will also get to check out the craft competition, where 47 competitors will be showcasing their craftsmanship by making various handicraft products at the venue itself. According to the Federation of Handicraft Associations of Nepal (FHAN), the organiser of the fair, the three best performers will be chosen and awarded with cash prizes and certificates.
Speaking on the contribution of the handicraft industry to the national economy, Dharma Raj Shakya, chairman of FHAN, said, “The industry has created job opportunities for over 1.1 million people, not to mention the important role that it has played in increasing nation’s foreign exchange reserve through exports.” As per FHAN, the country exported handicraft products worth Rs 2.29 billion in the first six months of the current fiscal year — a drop of nearly 11 per cent when compared to the figures of the corresponding period of the previous fiscal when Rs 2.58 billion worth of hand-made products had been exported. “We urge the government to be serious about developing the required infrastructure to facilitate the handicraft industry and increase the facilities given to exporters so that exports can be boosted,” Shakya added. Around 300,000 people are expected to visit the fair that runs till May 9. The mega event, which is being organised in cooperation with Ministry of Commerce, Nepal Trade Integration Strategy, and Trade and Export Promotion Centre, is expected to generate business transaction of around Rs 100 million. The country had exported handicraft goods worth nearly Rs five billion in the last fiscal year — the amount nearly equally divided in terms of sales of textile products and non-textile products. As per FHAN, if the sales of handicraft products in the local market is taken into account, the sector generates revenue of Rs 12 to Rs 13 billion annually. Last fiscal, America was the largest market for Nepali handicraft products, with exports worth Rs 1.3 billion, followed by Germany (Rs 487 million), China (Rs 371 million), Japan (Rs 355 million) and the UK (Rs 302 million).
SOURCE: The Himalayan Times
