If the importer fails to comply with the condition of the notification which was claimed at the time of import, the duty is required to be paid as per the rate applicable Under the duty drawback scheme, we are required to surrender proportionate or full amount of drawback taken, along with interest, in case of short realisation or non-realisation of export proceeds within the time allowed (original or extended) by the AD bank or RBI. Do we need to surrender RoDTEP scheme-related export benefits also in similar cases? Yes. The MF (DR) Circular no. 23/2021-Cus dated September 30, 2021 makes it clear that duty credit allowed under the RoDTEP scheme is subject to realisation of sale proceeds within the period allowed by RBI. The detailed provisions are mentioned in conditions at Para 2(4), 2(6) and 2(7) of the notification No. 76/2021-Cus(NT) dated September 23, 2021. Para 5 of the said notification deals with the recovery of RoDTEP credit in case of short realistion or non-realisation of the export proceeds. The Electronic Duty Credit Ledger Regulations, 2021 (notification no. 75/2021-Cus(NT) dated September 23, 2021) read with the said notification 76/2001-Cus also provides for the situations and manner of suspension or cancellation of duty credit or e-scrip, or recovery when duty credit allowed was in excess, or where export proceeds are not realised. We had exported certain goods that were found defective by the buyer and so were returned to us. We cleared the re-imported consignment under the notification 158/95-Cus dated November 14, 1995, by giving a bond that after suitable repairs we will re-export the goods within six months from the date of re-import. However, we could not re-export the goods even after a further extension of six months, as the buyer did not want the goods. Now, can we ask the Customs to amend the bill of entry and treat the goods as cleared under the notification 45/2017-Cus dated June 30, 2017? In the case of Rallis India Ltd. [2017 (358) ELT 285 (Tri. Mumbai)], the Tribunal said that the appellant re-imported exported goods claiming the notification no. 158/95-Cus and executed the bond and bank guarantee, but due to unavoidable reason could not reexport the said goods. Therefore, the appellant claimed the alternate exemption notification no. 94/96-Cus. There is no reason to deny the alternate exemption notification. If the importer fails to comply with the condition of the notification which was claimed at the time of import, the duty is required to be paid as per the rate applicable and as per any other notification, if available to the imported goods. The Tribunal held that only because the notification was not claimed at the time of import and claimed later on, the legitimate exemption, which is otherwise available under the statute, cannot be denied. The Tribunal relied on the Supreme Court judgment in the case of Share Medical Care [2007 (209) ELT 321 (SC)], wherein it was held that alternate notification no. 65/88-Cus. should be allowed, if the exemption notification no. 64/88-Cus. claimed at the time of import is not admissible due to nonfulfilment of the post-import condition.
Source: Business Standard
Technical Textiles is one of the core focus areas for India’s Ministry of Textiles as Government aims at an average growth rate of 15-20 per cent to increase the domestic market size of technical textiles to US $ 40-50 billion by the year 2024. Keeping these things in view, prestigious organisations Northern India Textile Research Association (NITRA) and Indian Technical Textile Association (ITTA) are organising ‘National Conclave of Technical Textiles – Protech’ on 16th November 2022 at India Habitat Centre, Delhi. The event is supported by the Ministry of Textiles, Government of India under National Technical Textile Mission. Dr. Arindam Basu, Director General, Northern India Textile Research Association informed, “In spite of the boost in technical textiles manufacturing and exports in the country, huge quantities of protective textiles are imported to meet the demand, particularly in the defence sector. There is an urgent need for cent per cent indigenisation of technical textile products for defence, paramilitary and police forces.” He further added that this Conclave will provide a platform for buyers and sellers to interact and come up with an action plan to benefit from the ongoing demand for protective textiles. Also the exhibition alongside will provide an opportunity for all the leading manufacturers to showcase their developments and innovations. Darshana V Jardosh, Hon. Minister of State – Textiles, will be the Chief Guest of the event and will inaugurate the conclave. Secretary Textiles, Joint Secretary (Technical Textiles), Textile Commissioner and Director (Textiles) will be the Guest of Honors. Personnel from defence, paramilitary, fire brigade forces, oil industry, steel, aluminium industry, security sector, entrepreneurs and professionals from the technical textiles industry especially Protech, technical officers, R&D personnel, machinery manufacturers and, faculty from well-known textile institutes will also take part in the Conclave. To benefit the participants and keep abreast them of the latest technologies and innovative products, an exhibition will be arranged along with the Conclave in which around 30 companies/agencies will participate and will showcase the innovative products in the field of Protech. It is worth mentioning here that National Technical Textiles Mission (NTTM), and Production Linked Incentive schemes are a few of the major steps to promote the technical textile industry in India. Market development, market promotion, international technical collaborations, investment promotions and Make in India initiative are also there to promote this industry. Protech (Protective Textiles) is one of the most significant segments of technical textiles which has massive opportunities.
Source: Apparel Resources
The reduced purchasing power in key export markets, like the US, due to recession is expected to weigh on the order book of Indian exporters and could in turn hamper the near-term earnings for the textile companies The beleaguered textile sector in Pakistan is grasping at straws seeking policy supports from the prime minister. The move has got experts hot and bothered about the scenario in India as well. In its submission to the prime minister, the Pakistan Textile Mills Association has stated that international demand has weakened with the clouds of a worldwide recession looming close and, without price competitiveness, it is not possible for the industry to retain its market share. The reduced purchasing power in key export markets, like the US, due to recession is expected to weigh on the order book of Indian exporters too, and could, in turn, hamper the nearterm earnings for Indian textile companies. Textile stocks have run up significantly in the past two years but ICICI Securities believes the current headwinds could, in the near term, outweigh the long-term structural story of the sector. Arun Malhotra, Founding Partner and Portfolio Manager at Cap Grow Capital Advisors cautioned that Tiruppur which constituted more than 50 percent of the textile exports in FY2022 is in the middle of a slowdown and has seen demand sinking by 30-40 percent. He added that the slowdown is clearly visible in orders and exports. Experts believe it is difficult to ascertain whether the slowdown in orders is a onequarter or a one-year problem since the scenario is quite hazy. On the contrary, Kush Ghodasara, an independent market expert, is of the view that impact of the US recession is largely discounted in the stock prices. An unexciting 2022 after stellar show in past years A sharp rise in cotton prices in the cotton season 2021-22, which is October 2021 to September 2022, has led to lower capacity utilisation (around 50 percent) by spinning mills and decline in exports, impacting players in the cotton textile value chain, said Malhotra. Hence, due to supply shortages and disturbance in the container supply chain, domestic cotton prices touched at around Rs 1,00,000 per candy as compared with average price of Rs 46,000 in the 2020-21 season, he said. According to Sunil Damania, Chief Investment Officer, MarketsMojo, rising shipping costs have also hurt the companies. “At the same time, export-oriented companies have seen reduced demand from the US,” he said. The US is one of the key textile markets for India, accounting for 50 percent of home textile exports and 28 percent of apparel exports, ICICI Securities pointed out. All these factors colluded to drive textile stocks into an unexciting 2022 after a stellar rally over the past few years. Ghodasara is of the view that in 2022, the Russia-Ukraine war has dampened global exports and it was the main reason for this year’s slowdown. “But last few years have been positive because much of the unorganised business has been channeled towards the organised business,” he said. There are other factors as well for the run-up in textile stocks in the past few years, like increased government intervention and favourable incentives such as Rebate of State and Central Levies and Taxes, the Mega Investment Textiles Parks scheme, and Production Linked Incentive for the Man-Made Fibre segment and the China Plus-1 theme. “Many large global retailers diversifying their sourcing and reducing dependence on China and looking for a dependent partner in terms of nation and company. Further deleveraging of balance sheets by many players and increased capacity utilisation coupled with lower raw material prices have been favourable, triggering a rally,” Malhotra said. Financials On a consolidated basis, KPR Mill achieved its highest ever quarterly revenue of Rs 1,605.0 crore in Q1 of FY23 with an on-year growth of 71 percent, while profit after tax increased by 35 percent to Rs 226.7 crore. The company’s operating margin in the quarter came in at 24.2 percent from last year’s 27.8 percent. Meanwhile, home textile company Trident’s total income rose 13 percent YoY to Rs 16,717 million in Q1 of FY23 and net profit was up 39 percent to Rs 1,238 million. However, its EBITDA (Earnings Before Interest Tax Depreciation and Amortization) shrunk to 15.5 percent in June quarter from 25.8 percent in the corresponding period last year. Page Industries, which is the exclusive licensee of Jockey International Inc and Speedo International, also clocked an all-time high revenue and net profit in the first quarter of the current fiscal. Its revenue came in at Rs 13,413 million, up 167 percent YoY while profit after tax stood at Rs 2,070 million, up 1791 percent YoY. Sectoral outlook At a comprehensive level, with a longer-term perspective, the textile sector is slated for robust growth on the back of policy support, access to priority capital and resurrection of aggregate demand globally. However, the sector remains vulnerable to near term challenges, according to Nirav Karkera, Head of Research, Fisdom. Many companies operating in the home textile space exited the last financial year on a healthy note on account of recovery in exports and realisations. Going ahead, margins in the segment may witness pressure from factors like elevated feedstock prices, subdued demand from import destinations as an effect of the ongoing macroeconomic upheaval and supply chain-related challenges, Karkera explained. The upcoming quarter will witness commissioning of committed capital expenditure while holding back on any fresh expansion. On the profitability front, gross margins across segments of the industry is expected to remain under pressure reflecting a muted to negative impact on earnings, he believes. ICICI Securities said that the recent commentary from global retailers suggest multiple headwinds in the near term with respect to the demand and costs. Excess inventory holding by many global retailers may impact near-term demand, which could lower order flows to sourcing partners across globe, including Indian apparel and textile suppliers. Further, higher logistics cost and higher unit cost is likely to make it difficult for sourcing partners to pass on the higher raw material costs, thereby hurting their margins. As a sector, there are good structural tailwinds like shifting of manufacturing from China, need for a large and skilled labour pool, strengthening dollar, reducing cotton import duty, and government’s commitment to PLI for the sector. Having said that, even Kanika Agarrwal, Co-founder of Upside AI, believes demand headwinds from the US and Europe, lower pricing power, rising input costs, competition from China, Bangladesh, Vietnam, remain big variables. The domestic textile (including apparel) industry can be expected to grow at a 10 percent compounded annually to around $200 billion by FY26. Of which, the apparel industry itself is estimated to grow to about $130 billion through the period. Whereas, exports achieved a record milestone of $44 billion in FY22; growth in the segment can put it on track to achieve around $65 billion by FY26, Karkera pointed out. “However, international retailers had a tough 2QCY22 but freight costs and congestion are normalizing now and demand should see a seasonal rebound in 4QCY22,” said Batlivala & Karani Securities India. Additionally, the US Department of Agriculture is forecasting marginally higher cotton production globally in the coming season which could lead to lower input costs and support margins, the brokerage firm wrote. Cotton prices have been declining lately which is a big relief, implying better profitability for textile companies. “In the past month, cotton prices have been down by 18 percent, and in the last three months, by 23 percent,” Damania pointed out. Corporates have also pointed out that Free Trade Agreements (FTAs) with major economies hints at an encouraging outlook for the sector. KPR Mill had said in its latest annual report, “The FTA negotiations with major countries will also help India to get concessional duties for its textile products”. The management of Gokaldas Exports pointed out that the continued military conflict, the extent of global monetary tightening and the trajectory of China's economy are causes for concern, but it sees the long term macro-economic factors as very favourable for business growth which prompted the company to go ahead with its capital expenditure plan. It added that the US apparel imports are showing growth but higher inventories and rising inflation may pose a near-term challenge. From the valuation standpoint, Karkera highlighted that there has been a substantial correction across the board since peaks during the trailing twelve months (TTM). “However, companies primarily operating in the yarn and fabric segments have witnessed the steepest correction to the tune of one-third to almost half of its peak valuations basis TTM P/E,” he said while adding, “Such a correction is majorly attributable to the adverse price and supply dynamics discussed earlier. Home textile brands and ones with strong export books, have been relatively insulated with a comparably lower drop in TTM P/E since peak.”
Source:Money Control
India is reportedly set to revive free trade agreement negotiations with the Gulf Cooperation Council with a deadline to wrap up the deal by June next year. Amid the resetting of global energy ties and India’s positive growth outlook, an FTA between these old partners can hold great potential for all sides. deals with partners in a bid to boost export-oriented domestic manufacturing. India is reportedly reviving the FTA negotiations with the Gulf Cooperation Council (GCC), a bloc of six Arab countries including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and UAE. India and the GCC share historical ties due to their proximity and ancient trade and cultural links. India and GCC hope to leverage the existing partnership to deepen trade among the members. Major gains for all sides An India-GCC FTA has major gains for all sides. An economic times report identified at least 1,100 products, including washing machines, ACs, refrigerators, spices, tobacco, cotton fabrics, textiles and leather that can see higher exports through the pact. According to the Ministry of Commerce, India’s export to the gulf countries has increased by 58.26 per cent to about $44 billion in 2021-22 against $27.8 billion in 2020-21, with Gulf countries. Bilateral trade between India and the GCC grew from $ 87.35 billion in FY 2020-21 to $ 154.66 billion in FY 2021-22. This is an enormous leap of 77.06 per cent on a year-on-year basis. India shops for crude oil and natural gas from Gulf nations such as Saudi Arabia and Qatar. India exports pearls, precious and semi-precious stones; metals; imitation jewellery; electrical machinery; iron and steel; and chemicals to these countries which are predominantly import dependent. An FTA is being regarded as a win-win for all sides. Other FTAs on the horizon The Russia-led Commonwealth of Independent States (CIS) has also reportedly approached India for an FTA. Besides this, India has fast-tracked negotiations with Canada and the European Union (EU). New Delhi already has On 18 February 2022, a comprehensive economic partnership agreement (CEPA) was finalised with the UAE. This wrapped up within a record 90 days of commencement of negotiations and was implemented on 1 May 2022. An Economic Cooperation and Trade Agreement (ECTA) with Australia was also concluded on 2 April 2022. The highly-anticipated FTA with UK has hit a speed bump due to a domestic crisis but the momentum with which India is seeking and finalising FTAs is strong. India is driven to strike FTAs with a two-pronged goal – to safeguard supply chains and diversify sources. In addition, India sees itself as the manufacturing hub of the world. It has set an ambitious target of $400 billion worth export annually. It achieved the target in FY22 but to sustain its record, India would have to get preferential access to markets via FTAs. The ‘gulf’ with west is closing The GCC had suspended FTA negotiations for several years. It is now picking up the threads of the halted negotiations with India as per reports. The GCC may also consider revitalising efforts at forging a region to region FTA between the EU and its bloc. Negotiations between EU and GCC had been frozen when the western block reportedly imposed high taxes on the GCC and connected the trade deal with issues such as human rights and counter terrorism. However, the gulf between GCC and the west is closing. The Arab countries have emerged as strong players on the world stage. Qatar will even be the first Middle Eastern country to host the FIFA world cup. The Ukraine war has sparked a global energy crisis which is recalibrating geopolitical ties. Regardless of the Arabs’ human rights record, US president Joe Biden could not treat Saudi Arabia as a pariah state as he had promised. The gulf is on an influential position. Meanwhile as far as India-GCC is concerned, with the gulf’s star rising and India “a bright spot on a dark horizon” according to the IMF, partnership between the two holds great potential.
Source: Times Now News
The participants were carrying pictures of Chief Minister K Chandrasekhar Rao and state Handlooms and Textiles Minister K T Rama Rao as well as placards. In a novel protest, thousands of handloom weavers from Telangana on Monday sent postcards to Prime Minister Narendra Modi demanding the rollback of Goods and Service Tax (GST) on handlooms. Thousands of postcards were deposited at the General Post Office (GPO). Weavers and handloom supporters gathered at Nizam College Grounds and marched to GPO in a rally. The participants were carrying pictures of Chief Minister K. Chandrasekhar Rao and state Handlooms and Textiles Minister K. T. Rama Rao as well as placards with the demand to roll back the GST. The wavers demanded the Centre to immediately roll back five percent GST on handlooms products and its raw materials. The weavers wrote the postcards responding to the call given by Rama Rao who launched the campaign on October 22 demanding GST rollback. The campaign received a massive response from weavers spread across the state. Member of Legislative Council L. Ramana, Chinta Prabhakar, Chairman, Telangana State Handloom Development Corporation Ltd, Guduri Praveen, Chairman, Telangana Powerloom and Textiles Development Corporation Ltd, former Rajya Sabha MP Ananda Bhaskar Rapolu, and Warangal Mayor Gundu Sudharani participated in the programme and the rally. Addressing people gathered at the college grounds, Ramana demanded that the GST should be rolled back. He has also demanded the union government to restore the schemes for weavers which were scrapped, including ICICI Lombard Health Scheme and Mahatma Gandhi Bunkar Bima Yojana. Ramana said that Chief Minister Chandrasekhar Rao took several measures to protect the handlooms sector. Some of them are Nethanna Ku Bima, Chenetha Mithra, Nethannaku Cheyutha and loan waiver to weavers.
Source: New Indian Express
• What is riding on the ambitious plan to set up multi-modal logistics parks, and what stands in its way • The government is planning to set up 35 logistics parks across India at a cost of ₹52,500 crore. The parks will be connected to rail and road routes to help speedy transport of goods. If there is any factor that puts India high on the unease of doing business index, it is logistics. The movement of goods through this vast country is expensive and inefficient. The overall logistics cost is about 14% of GDP, significantly higher than that of many other countries. Transporting goods by rail costs 45% less (on a per tonne, per km basis) compared to road, but three-fourths of all goods are sent across the country by road because of the inefficiencies in rail transport. The government has come up with one answer to this problem—a network of multi-modal logistics parks (MMLPs). So, where are these parks coming up? How ambitious is this plan? And what stands in the way?
Source: Live Mint
Orders from global brands like Primark and Walmart have started to come in for garment makers in Tiruppur after three months of continuous slide in orders from global markets as their prices have become competitive due to fall in cotton and yarn prices. Exporters said countries like Vietnam, Thailand and Bangladesh were quoting much lesser prices for their garments compared to India which impacted India's export orders. Indian exporters were facing problems over rising cotton and yarn prices in the domestic market and the small and medium units who are into garments exports suffered from a liquidity crisis. The export situation has started improving. Recently, yarn prices in India have decreased by 10-15% and this is going to benefit mainly India, not much the competitor countries. Currency depreciation is also in our favour. So, we are also hoping that some orders from Vietnam and Bangladesh will also come to us. Big global brands like Primark, Walmart and others have started placing orders with us," said K N Subramanian, president, Tiruppur Exporters Association (TEA). Tiruppur has 3,000 garment manufacturing units that employs 18 lakh people. The annual exports of Tiruppur are in range of ₹33,000-35,000 crore. Indian cotton spot prices have softened by about 6.21% in October to date to trade near ₹32,508 per bale (170 kg) as cotton arrivals have picked up. Cotton prices have been losing on higher domestic production estimates for the crop year 2022- 23. "We now expect prices would fall to ₹32,000/₹30,000 per bale in the coming days while it can slip to ₹25,000 in the medium-term," said Tarun Satsangi, research analyst with Origo Commodities. Cotton demand remains sluggish while lower prices can boost the market sentiment as Indian cotton has now become cheaper than Pakistan, which will up Indian cotton demand in the international market. Further, Chinese yarn banned by the US is now finding its way into the Indian market at cheaper rates, Satsangi added. Cotton prices had gained 40% in May-June and were at an 11-year high due to a demand-supply mismatch. Barath Raj, managing director of Tiruppur-based Selvanganpathy Amman Garments, said demand for garments has gradually started coming from Germany and Russia, where they are major suppliers. "The demand is up for kidswear and maternity wear," he said. The TEA president said that they have also urged the government to sign the Free Trade Agreement (FTA) with UK so that exports from Tiruppur can go up to ₹50,000 crore by FY25. "Apparel manufacturers have been losing business to countries such as Vietnam, which recently ratified its FTA with the EU. It is much cheaper for the European companies to place orders with Vietnamese vendors because they don't have to pay duties, whereas duties are between 9% and 16% for imports from India," he added. The overall export of ready-made garments stood at $16 billion in FY22.
Source:Economic Times
Synopsis Unlike some other economies, India has shown better resiliency to persistently-high inflation and a sinking currency against the U.S. dollar since the start of this year. India's factory activity expanded at a stronger pace in October as demand and output remained solid, encouraging firms to hire workers at the fastest pace in nearly three years, according to a private survey released on Tuesday. Unlike some other economies, India has shown better resiliency to persistentlyhigh inflation and a sinking currency against the U.S. dollar since the start of this year. The Manufacturing Purchasing Managers' Index, compiled by S&P Global, rose to 55.3 in October from September's 55.1, better than a Reuters poll median forecast for 54.9 and remaining above the 50- level separating growth from contraction for a sixteenth month. "The Indian manufacturing industry again showed signs of resilience in October, with factory orders and production rising strongly despite losing growth momentum," noted Pollyanna De Lima, economics associate director at S&P Global Market. "Manufacturers continued to loosen the purse strings as they expect demand buoyancy to be sustained in coming months. There was a marked rise in input purchasing, with firms adding to their inventories to better align with client purchasing." Although overall demand and output expanded at a slower pace last month, growth was still solid, with foreign demand increasing at its strongest rate since May. That led firms to increase headcount at the quickest rate since January 2020. Optimism around future output also remained above the long-term average. While input price inflation remained around the previous month's level, prices charged increased at their slowest pace since February, meaning overall inflation, which rose to a five-month high in September, was likely to ease. That could provide some breathing room for the Reserve Bank ofIndia, which is widely expected to adopt a slower approach to rate rises than its major peers in coming months. The widening policy gap between the hawkish U.S. Federal Reserve and the dovish RBI could lead to a further weakening of the rupee, which has lost over 10% against the greenback this year, suggesting the central bank may continue burning through its dollar reserves to support the currency
Source : Economic Times.
Recently, the International Monetary Fund (IMF) projected 6.8 per cent real growth for this year and 6.1 per cent for next year for India Chief Economic Adviser V Anantha Nageswaran on Monday said India is expected to clock better growth than IMF's projections next year aided by enhanced capital formation. Recently, the International Monetary Fund (IMF) projected 6.8 per cent real growth for this year and 6.1 per cent for next year for India. "I think in fact, the growth rates for the coming years may be slightly more, slightly better than what these numbers are, because I think there is a possibility that India's capital formation cycle will do better after one decade of retrenchment," he said. India's public digital infrastructure has probably crossed an inflection point and that will also be contributing to both formalisation of the economy and therefore higher growth, he said. So, he said, maybe there could be 0.5-0.8 per cent addition to the 6 per cent baseline numbers. He also said that fiscal policy and monetary policy are usually synchronised and counterbalance each other. On high debt-to-GDP ratio, he said, sustainability is not a concern and it may reduce with asset monetisation. India can use asset monetisation proceeds to whittle down it's debt and that will help improve the credit rating, that can be the best fiscal stimulus we can provide, he added.
Source: Business Standard
Ease of Doing Business for MSMEs: “During 2021-22, the total exports of Indian handicrafts was valued at $4.35 billion, which was 25.7 per cent more from the previous year,” said a senior official. Ease of Doing Business for MSMEs: India has become one of the largest exporters of handicraft due to the increasing demand for traditional and tribal handicraft products, said a report by The New Indian Express. Tribal handicraft products are seeing a lot of traction due to their aesthetics and sustainable nature, the report said, citing a senior official from the Ministry of Tribal Affairs. The total handicraft export from India rose to $120.06 million in May 2022, an increase of one per cent from April this year. “During 2021-22, the total exports of Indian handicrafts were valued at $4.35 billion, which was a 25.7 per cent increase from the previous year,” said the senior official. Handicraft products such as India’s shawls, painting, wooden items, earthen pots, bags, traditional jewellery, baskets and other handmade woodenware are seeing a lot of interest in overseas markets, including the United States. The initiative that started globalising tribal products is now showing results not only in international but also in the domestic market, the official added. “Within the country, the marketing of tribal and traditional handicraft products is done through wider networks of 140 Trifed (Tribal Co-operatives Marketing Development Federation of India) outlets. This initiative has also generated employment for 10.5 lakh artisans in the last six years. And notably, a half of them (benefited with employment) are women artisans”, said the official, adding that handicrafts and handlooms have established India’s identity in the global markets. Further, the demand for handicraft products made by India’s traditional and tribal communities such as traditional jewellery, embroidery, hand printed textiles, wood wares, art metal wares, and agarbatti and attars is also gaining momentum, according to the Export Promotion Council for Handicrafts. Also Read: Union MoS MSME Bhanu Pratap Singh Verma asks officials in J&K’s Pulwama district to organise Crafts Melas to support artisans India has 3,000 handicrafts and other traditional craft forms according to the official data such as papier-mache of Jammu and Kashmir, Ladakh’s thangka paintings, Bihar’s Madhubani paintings, Punjab’s phulkari and bagh textiles, Haryana’s brassware and UP’s zardosi work among others.
Source: Financial Express
Türkiye's İstanbul Apparel Exporters' Association (IHKIB) reveals why the country is so highly regarded as a nearsourcing apparel supplier to Europe and refutes the allegations made in a recent report on modern slavery. Türkiye, being the sixth largest supplier of the world and third largest supplier of the EU, is one of the most important and leading actors in the global apparel industry. The deep integration between the Turkish apparel industry and the EU apparel industry developed organically with Europe and global buyers and brands over the years and the industry follows the same priorities and principles that shape the global value chain. In 2021, US$31.2bn exports were realised by the Turkish apparel industry, together with the textile industry. The textile and apparel industries employ more than 1.2 million production workers that operate in a modern and safe working environment. Together with the retail industry, more than 2 million workers are employed by these industries in Türkiye, and with their families, about 10 to 15 million people get their income from Türkiye’s textile and apparel industry. How Türkiye has overcome geopolitical challenges On the other hand, geopolitical issues surrounding Türkiye has led to a number of immigrants being hosted by the country. In the last decade, Türkiye welcomed, hosted and provided the essentials for millions of immigrants who fled to Türkiye. There are 3.6 million registered Syrian refugees and together with other nationals, Türkiye hosted between 7 and 8 million immigrants, most of which are refugees that had to escape from war. Istanbul Apparel Exporters Association (İHKİB), as a leading representative organisation of the industry, regrets to hear the recent alleged statements on Türkiye‘s apparel industry concerning immigrants’ labour rights. Türkiye’s textile and apparel industries make almost 70% of its exports to the EU market under the strict regular auditing of Western brands and are inspected under EU level national labour laws, so the sector does not exploit Syrian immigrants and children as cheap labour and, there is not any unregistered Syrian or other immigrant workers or child labour within the Turkish textile and apparel industry. Türkiye’s apparel industry uses legislation based on European standards It is one of the key advantages and strengths of Türkiye’s apparel industry that it has a deep experience and know-how in making the highest quality apparel for leading markets of Europe and employs a young, dynamic, and well-educated workforce. In addition, Türkiye has extremely high standards in terms of human rights, working conditions and environment standards. Türkiye’s legislation is based on European standards thanks to its 27-year-old Customs Union with the EU, the candidate status for membership to the EU and its labour laws are in compliance with EU legislation.
Source: Just Style
Even as Pakistan struggles to comply with existing EU conventions of GSP Plus status, the 27-member bloc plans to introduce five or six new conventions related to environment and social standards. The Generalized System of Preferences (GSP) Plus is set to end in 2023 and a mission is preparing the final report of the last decade to be discussed in the European Union Parliament, which will decide about the continuation of the scheme, Daily Times reported. The report adds that GSP Plus status holds significant importance for Pakistan’s economy as it has played a key role in the expansion of multilateral trade. Addressing a meeting at Pakistan Textile Exporters Association (PTEA) in Faisalabad last week, EU envoy to Pakistan Riina Kionka has said EU-Pakistan relations have a strategic engagement that covers all the areas including counter-terrorism, trade, climate change, GSP Plus status and various others. She informed that the continuity of GSP Plus is subject to ratification of more than five to six new conventions related to environment and social standards including the remaining 27. The EU envoy said the existing GSP plus scheme is confined to the textile sector which should be spread to the other sectors as well, Daily Times reported. Kionka’s comments come following the 12th European Union (EU) – Pakistan Joint Commission that took place on October 5 in Islamabad which saw the exchange of views on all areas of cooperation between the EU and Pakistan. The two sides emphasised the importance of trade relations and noted that the Generalised Scheme of Preferences Plus (GSP+) increased bilateral trade to EUR 12.2 billion in 2021. They discussed ways to address issues hampering trade and investment. The EU stressed the effective implementation of the 27 international conventions related to GSP+; Pakistan reiterated its firm commitment in this regard.
Source: The Print
