Textile exports should pick up in H2 2023, domestic demand robust: HGH India’s Arun Roongta
GDP growth rate likely at 4.6% in December quarter: SBI economists
H-1B stamping, interview waivers, and everything else the US is doing to cut your visa wait
INTERNATIONAL
New European Initiative To Support SMEs In Transforming Textile Waste Into Value
APTMA warns of unemployment of over 10 million workers
PVH joins Carbios fibre-to-fibre biorecycling consortium
NATIONAL
"We are about 420 billion merchandise exports last year and 254 billion of service exports. My own estimates say that these will converge by 2030,” said Piyush Goyal. Achieving a USD 47 trillion economy by 2047 is not at all inconceivable for India, Union Minister of Commerce & Industry Piyush Goyal said on Tuesday. The continuance of good governance that the country has seen over the past 8-9 years, its immense talent pool and the diasporic support the nation commands will aid the growth, the minister said. Goyal, who also holds Consumer Affairs & Food & Public Distribution and Textiles stressed on the fact that the economy will be largely driven by the service export rather than merchandise export. He said that during his address at the 17th India Digital Summit (IDS 2023) on Tuesday. “Our services export largely driven by IT has grown by 20 per cent between the year 2021- 22 and by March 2023 it will grow by 23% more. The IT industry will overtake merchandise exports. We are about 420 billion merchandise exports last year and 254 billion of service exports. My own estimates say that these will converge by 2030,” added Goyal. As per the data of the Commerce Ministry, the estimated value of services export in April-December 2022 is $235.81 billion as compared to $184.65 billion in the year-ago period. In 2021-22, these exports touched an all-time high of $254 billion. in 2012, India exported $140 billion worth of services. Rising at an annual average growth rate of 6.9 per cent, this number nearly doubled within the first 11 months of 2022. Goyal asserted that the economy will be driven due to the advancement of technology and digital advancement. “By 2030, India should be at $ 1 trillion of merchandise export. Juxtapose this contextually with the Startup India Mission and Digital India. We have seen broadband spread to the remotest corners of the country and have 800 million smartphone users,” said he.
Source: Zeebiz
From the highs of the pandemic, growth and demand for the textiles sector has moderated this financial year. The Russia-Ukraine war, high inflation and the threat of a looming recession in key markets like the US and Europe have led to a slowdown in exports. The silver lining for the sector has, however, been robust domestic demand and new pockets of growth. In a conversation with ET Digital, Arun Roongta, Managing Director, HGH India, talks about the trends and challenges for the sector and the opportunities. Edited excerpts.
Whatis the status ofthe home textiles and furnishing industry in India: Indian home textiles and furnishing industry continues to grow despite several challenges. Exports to Europe and the EU, which make 80% of India’s market for these categories, are stagnant at this point. However, Consumers are shifting towards ready-to-use products like readymade sofas, cushion covers, curtains, blinds, bed sheets and towels instead of customising them. In 2022, the overall size of the home textiles & furnishing industry, including the unorganised sector, was about $18-19 billion, of which $8.2 billion was exported and remaining $10 billion was domestic consumption. About 40% of domestic consumption in home textiles was for the bed & bath category alone. Still, over 95% of domestic demand is met by the unorganised and MSME sectors. Wider definition of furnishing will also include furniture and home décor accessories and these numbers would get bigger. India is targeting an average GDP growth of over 7% per annum to become a $5-trillion economy by 2025-26. As the world's fifth-largest economy with a population of 1.4 billion people, it is today one of the biggest and rapidly emerging markets in the world. India’s aspiring, young consumers with rising incomes are consistently moving upwards, adapting to better products, better designs and an international lifestyle. With demand for home products increasing at 20% per annum, business growth opportunities in the Indian market will continue to grow for domestic and global players. India is a huge but highly diversified market where connecting with the right business partner is a major challenge faced by both international and Indian brands and manufacturers.
What was the impact ofthe pandemic on exports and domestic consumption and what does itlook like now: After short cyclical ups and downs in demand, the net effect of the pandemic on the domestic market has been a net increase in size of the domestic market by 15-20%, as people learnt to spend more on their homes some time, other non-pandemic factors like the Ukraine war and high inflation marred them in key markets like the European Union, USA and Japan. More recently, some signs of international demand re-emerging are visible, though slowly. The domestic market for furnishing fabrics particularly took a pause during the last Diwali season, due to overconsumption and very high sales in 2021-22. The current year looks very promising in the domestic market across all home product categories, including home textiles.
There is a slowdown across markets like Europe and the US. What impactis that having on Indian producers and how are they coping with the situation : I think this is a short-term trend triggered by the Ukraine war, high oil prices and high inflation in post-Covid markets. Consumers in the USA, Europe and Japan are simply spending less at the retail level on textile purchases to balance their budgets. These countries make up over 80% of India’s exports of textiles across all categories, like readymade garments, apparel fabrics and home textiles. As inflationary conditions cool off and retailers exhaust their stocks, added by growing preference of importers to move away at least part of their sourcing from China, Indian textile exporters should see good demand from the second half of 2023. We are certainly facing stiff competition from countries like Vietnam and Bangladesh, who besides having labour cost advantage also enjoy favourable trade terms and duty-free access to many markets. India just concluded an FTA with Australia and the UAE. This should work to its advantage. We need to do similar agreements with larger buyers like Europe and USA. Skyrocketing prices of cotton, which constitute a major part of India’s textile exports, impacted demand adversely in this segment. Now that the prices are reverting to normal, with a good new cotton crop, things should get better. Besides, India needs to work more effectively in its export promotion and marketing efforts. Products need to be contemporised further in terms of designs, quality and performance. We need to offer better functionality and features, besides good feel and good designs.
How has the domestic market evolved when it comes to demand and where are the pockets of consumption: Interestingly, besides metros and big cities, the demand from tier 2-3 cities is increasing now. That is where one has to look at more seriously now. The total market size in India is expanding. Non-consumers are turning into consumers. That is the segment that is very interesting. Certainly, the market is spreading more evenly across the country. Earlier, the market size was from Ludhiana would come to Delhi to shop for home furnishings. But now cities like Satara also have their own home furnishing stores. Pockets of consumption are wider and deep now in smaller cities. About 100 smart cities that are being established have a huge opportunity for home textile as well because people are shifting to these places and getting established there. So, markets are no more restricted to metros. It is a good sign for manufacturers, retailers and for India as a country, as prosperity is spreading in the smaller pockets. It is becoming visible in retail sales in home categories as well.
What are the current challenges for the sector and how can we overcome them: The biggest challenge which we feel exists is that we are not still paying enough importance to product development, marketing and distributing. Production is not a challenge. India’s quality is already considered the best. When people want to buy home furnishing products, they already prefer made-in-India products. But there is less synchronisation in production and marketing, I would say. Export production is always led by buyer specification. So we have little say there. For example, if Walmart is placing an order, they will just tell what they want and Indian companies will produce it and export it as per their samples. But when it comes to the domestic market, I think we still need to spend a lot more effort on design and product development, marketing and expanding retail distribution into tier 2-3 cities Our distribution channels are unorganised to a large extent and I think the retailer here needs to be better informed about the product. They are selling in India with price and discounts as drivers rather than value-driven sales. These are some efforts that HGH India has also been making off late. For example, World of Sleep is a key focus area at HGH India where we train the retailers on what is the difference between a Rs 20,000 mattress and a Rs 2-lakh mattress.
Sustainability is the buzzword now. Are Indian producers geared up to face the new realities: materials, recycled fibres, biodegradable inputs from raw materials to process and package goods. Alternatives like organic cotton, recycled polyester, organically produced natural fibres like bamboo, jute are increasingly being used. Natural dyes and organic chemicals are being used for textile processing. Welspun, Trident, Indo Count, Himatsingka are all offering products that meet the defined standards of European and American agencies, certifying their products as sustainable, organic, biodegradable and eco-friendly.
HGH India is scheduled to take place around July this year. Whatis the key scope ofthe bi-annualtrade show this year: The 13th edition of HGH India, scheduled for July 4-07, 2023, at the Bombay Exhibition Centre in Goregaon, Mumbai, will highlight innovations for festive and the autumn/winter 2023 retail season. As retailers and consumers seek innovations at a quicker pace, exhibitors across categories will introduce new concepts in products, designs, colours and materials from home textiles, home décor, home furniture, area rugs, floor coverings, handicrafts, outdoor, houseware, cookware, kitchenware and gifts. HGH India will have brands showcase their autumn/winter 2023 range in the July 2023 edition, allowing buyers to replenish supplies for the forthcoming festive season. HGH India, being bi-annual, now just helps our participating brands to explore business in shorter cycles in a dynamic and growing consumer demand and competitive market environment.
Why are trade shows like HGH important and how willthey benefit Indian exhibitors : In an ever-evolving and emerging market like India, where consumer demand for most of the home products is increasing by 20-25% year on year, it is vital for retailers, manufacturers and brands to stay aligned to global product and design trends. HGH India helps in identifying these trends, connect the manufacturers and brands with retailers and distribution partners, and helps retailers source innovative products from Indian and international sources to meet the demand of aspiring, young Indian consumers. Trade shows like HGH India enable Indian and international brands, manufacturers, exporters, importers and suppliers to present their product range, innovations and latest collections to Indian trade buyers and enable them to connect directly with Indian retailers, importers, distributors, trade representatives, wholesalers, institutional buyers and interior designers from their products among trade channel partners, all over the Indian market.
Whatis the number of participants you expect atthis year’s trade show AR: About 700 exhibitors from 32 countries, India’s leading brands, large companies, MSMEs and various segments of handicrafts & handloom sectors are expected to attend HGH India 2023 in Mumbai.
Source: Economic Times
Economists at the SBI have projected a GDP growth of 4.6% for the December quarter, citing that as many as 30 high frequency indicators are not as robust as they were in the previous quarters Economists at the State Bank of India (SBI) have projected a GDP growth of 4.6 per cent for the December quarter, citing that as many as 30 high frequency indicators are not as robust as they were in the previous quarters. However, the projection is higher than the Reserve Bank of India's forecast of 4.4 per cent for the third quarter of this fiscal. The lower forecast also stems from poor corporate results, ex-BFSI, which have shown that operating profits grew at a much slower 9 per cent in the third quarter, which is just half of 18 per cent recorded in the year-ago period. Also, despite a 15 per cent in net sales, the bottom line was down by around 16 per cent, Soumya Kanti Ghosh, the group chief economic adviser at SBI, said in a report on Tuesday. Ghosh said he expects an upward revision in growth to 7 per cent for the full fiscal, up from 6.8 per cent projected earlier. This is because the government is anticipated to revise the GDP numbers for FY20, FY21 and FY22 on February 28. Additionally, there will be revisions in quarterly numbers of FY20, FY21, FY22 and even for the Q1 and Q2 of FY23, he added. As per the report, corporate margin seems to be under pressure as reflected in results of around 3,000 listed companies, excluding financial services companies, due to higher input costs with decreasing margins. Margins declined from 15.3 per cent in Q3FY22 to 11.9 per cent in Q3FY23, and this could pull down manufacturing growth in Q3, he added. Meanwhile, India Ratings in a report said it expects GDP to grow 5.9 per cent in FY24, lower than most other forecasts. Although there are a few positives for growth such as sustained government capex, deleveraged corporates, low NPAs, production-linked incentive scheme and likely coiling in global commodity prices, they are still not sufficient to take the GDP growth beyond 6 per cent in FY24, it added. Another reason is the falling merchandise exports due to the global slowdown and merchandise imports not moderating proportionately, Sunil Kumar Sinha, the principal economist at the agency, said. The report noted that industrial growth is expected to remain tepid because of the Kshaped recovery, which is neither allowing consumption demand to become broad-based nor helping the wage growth especially of the population belonging to the lower half of the income pyramid. The industrial sector is projected to grow 3.9 per cent in FY24 down from 4.1 per cent. Services, the largest component of the GDP, on the other hand, is estimated to grow 7.3 per cent compared to 9.1 per cent in FY23.
Source: Business Standard
Viscose anti-dumping duty hurts weavers: The story of textiles in India weaves a history of independence and culture and is a key pillar of livelihood in the country. Viscose, a man-made fibre witnessing global demand growth, is a new addition to India’s textile story. It is a biodegradable fibre and an alternative to silk and cotton. Viscose is ‘poor people’s silk’ because it is cheaper but with similar properties. It is not just the ‘poor’ consumers but also the weavers of the fabric, who have found a new source of livelihood with the production of viscose. Due to a rise in the price of natural fibres such as cotton, many weavers shifted to producing viscose or blended viscose fabric. Indian textile sector is still cotton dominated, which has limitations in supply. Cotton acreage cannot be increased as food is a priority. Hence, viscose blended cotton is being widely adopted as a viable alternative. Viscose has given new hopes to the Indian weavers. Viscose fibre consumption is witnessing a steady rise, where the market grew from 542 KT (Thousand tons) in 2021 to 744 KT in 2022, a robust 37 per cent growth. This was only possible as Indian textile value chain could access Viscose fibre at internationally competitive prices. Overall, viscose holds 16.5 per cent of the man-made fibre market in India. Other than being a cheaper alternative, versatility in design and application also contributes to its demand. However, apart from helping weavers, it is also essential to ensure safeguards which are not protective but conducive in nature.One issue plaguing the viscose value chain is the limited raw material supply of Viscose Staple Fibre (VSF). India has a limited number of players involved in manufacturing VSF, with one major company contributing to over 90 per cent of the supply. As a result, many weavers rely on imported fibre. It provides new alternatives to these weavers so that they can survive in the market and be competitive.
Anti-dumping duty: An upcoming development that can be detrimental to the weavers of viscose is the antidumping duty imposition on VSF imports. The imposition of this duty will make the procurement of the fibre much more challenging and all the more expensive for the weavers. Anti-dumping duty on VSF was first introduced in 2010 and continued till 2021. It was removed only after the entire industry repeatedly appealed after suffering for over 11 years. Former Textiles Minister Smriti Irani, herself had supported the removal of duties. Re-introduction of anti-dumping duty will now impact many weaving hubs in Tamil Nadu, Maharashtra and Gujarat. This is an issue affecting production capacities and the lives of 4.5 crore people employed in the textile industry. With Tamil Nadu alone accounting for 75 per cent of India’s man-made cellulose yarn production, this duty can significantly hamper the State’s growth and endanger the livelihood of the 31 lakh rural textile workers in the State. The duty will also impact the entire value chain of the fabric, as the procurement of the fibre, which is the heart of the value chain, will be hit. Viscose is also the fabric of future. It is widely used in upcoming subsectors in the textile industry, such as technical textiles and medical textiles. Most importantly, viscose is a sustainable choice due to its biodegradable properties. Hence, the answer to India’s growing market for viscose is not an anti-dumping duty. Instead, we need emancipatory measures which ensure that weavers can procure required raw materials with equal levels of accessibility. This can only be ensured if there is free competition in the market. We need to build a level-playing field in the sector so that pricing stays equal regardless of where a weaver buys their fibre from. Viscose is the new thread to India’s textile story and has already become a major source of livelihood. It is high time that the country’s textile value chain is given the much-needed impetus.
Source: The Hindu Businessline
India is the United States' number one priority, US visa officials reiterated this week, as visa wait times slowly begin to ease. While addressing a media interaction organised by Foundation for India and Indian Diaspora Studies on Tuesday, Deputy Assistant Secretary for Visa Services in the Bureau of Consular Affairs Julie Stufft said, "India is the number one priority that we are facing right now. We are absolutely committed to getting out of this situation. Anyone in India seeking a visa appointment or visa have to wait for that's not certainly our ideal." She further stated, "So far this year, we have issued 36 per cent more visas than we did before the COVID pandemic in India. And that is a huge percentage of progress." Here is everything the US is doing to cut your visa waittime 1. From fall, the US will start visa stamping program domestically within the US for visa renewals, including H-1 and L-1. visa. "This fall will be the first that we'll be able to put out a call for applications. The pilot is this summer..and we're gonna be doing it for people in worker status. So that would be H's and L and, and I's," the official added. 2. The department was also expanding its interview waiver process for some temporary workers, students and academic exchange visitors. "All the nonvisitor time or student-visa have very very low wait times and that's really key. Our H-1B and F student's wait time were just as high almost six months ago and so we brought down the wait time," she added. 3. Indian applicants who happen to be travelling for business to another country can go and apply for a US visa. Citing the example of countries like Thailand and Germany Sufft noted, "We've also opened up other missions and this is actually unprecedented. We've asked other US embassies to take on India visa applicants specifically if they choose to travel there." 4, On January 21, the US Mission in India launched the first in a series of special Saturday interview days to reduce wait times for first-time visa applicants. The US Embassy in New Delhi and Consulates in Mumbai, Chennai, Kolkata and Hyderabad all opened consular operations on Saturday to accommodate applicants who require in-person visa interviews. 5. The US Mission will continue to open additional slots for appointments to take place on select Saturdays, according to the statement released by US Embassy in India. These additional interview days are among the measures that have been taken to address the backlog in visa processing caused by COVID-19. 6. The US Department of State has implemented remote processing of interview waiver cases for applicants with previous US visas. According to the statement, dozens of temporary consular officers from Washington and other embassies will arrive in India to increase processing capacity in January-March.
Source: Economic Times
INTERNATIONAL
Regions for Green Textiles – known as RegioGreenTex – is a quadruple-helix partnership initiative aiming at mapping and reducing the difficulties, which currently exist in the implementation of a circular economy model within the textile ecosystem across the EU. RegioGreenTex will support tangible solutions at SME level, where textile waste becomes a value. The project will contribute to maintain and develop jobs in the EU textile sector, reshoring the production in Europe and making the EU textile value chain more competitive and resilient. It will contribute to the EU Green Deal objectives of reducing carbon footprint, energy and water consumption. Led by EURATEX, the project brings together 43 partners from 11 European regions, with 24 SMEs pioneering innovative solutions to recycle textile waste. Together the SMEs cover various value chain segments of circular textiles (sorting, recycling from material to fibre, removal of contaminants, processing of recycled fibres to new textile materials) and provide concrete solutions to EU value chain bottlenecks but also seizes upon market opportunities. The project will also promote the development of 5 regional ReHubs in some of the most important textile regions in the EU. RegioGreenTex is supported by the European Commission through the Interregional Innovation Investments Instrument – I3, and will be coordinated by the European Innovation Council and SMEs Executive Agency (EISMEA). As part of the European Regional and Development Fund (ERDF), the I3 instrument aims at supporting interregional innovation projects in their commercialisation and scale-up phases giving them the tools to bring their project to investment level. This instrument focuses on strengthening economic cohesion in the EU by helping businesses work with innovation actors in other regions. Dirk Vantyghem, Director General of EURATEX, welcomes the project: “RegioGreenTex will support our companies in making this transition towards a new sustainable business model. We’re happy to have 24 SMEs involved, who will directly benefit from the action. The project should also mobilise regional authorities to engage in textile waste recycling, which can give a new dynamic to the textile industry at large.”
Source: Textile World
Turkey was already battling runaway inflation with the economy on the brink, when the deadliest earthquake (7.8 magnitude) in a century hit the country earlier this month. As if it was not enough to bring the country on its knees, Turkey was hit by another 6.3 magnitude quake yesterday, hitting its beleaguered economy that was already in urgent need of repair. The quake, which has killed more than 46,000 people, has added to the woes of the country with a massive reconstruction bill and weakened economic growth.
What will the earthquake cost Turkey?
According to the Turkish Enterprise and Business Confederation, the quake is expected to cost the country up to $84.1 billion, although a government official has put the total cost at $10-50 billion. The Turkish Enterprise and Business Confederation said that the costs comprise $70.8 billion to repair homes, $10.4 billion from loss of national income and $2.9 billion from loss of working days. Per media reports, over 8,000 buildings were flattened and supply chain infrastructure, including roads and the Iskenderun seaport, were damaged during the disaster. The area was a manufacturing and maritime transport hub, accounting for 9 per cent of Turkey’s economic activity.
Turkey’s beleaguered economy before the earthquake
Before the earthquake, Turkey was already reeling from a falling currency and runaway inflation that had reached an annual rate of 85 per cent in October. The country was relying on rich allies for funding to keep its economy afloat. According to a survey by Yöneylem Social Research Centre, more than two-thirds of people in Turkey are struggling to pay for food and cover their rent. The annual CPI inflation was in fact 176.0 per cent, per the independent analysts at Inflation Research Group (ENAG). According to the European Bank for Reconstruction and Development, Turkey’s economy had been slowing from 11 per cent growth rebound in 2021. It was expected to grow 3 per cent this year and the next in normal circumstances. The country’s currency lira too lost nearly 30 per cent of its value against the dollar last year. This has caused production costs to rise further. Turkey also has external loans to repay worth nearly $185 billion which has become harder to pay with a plunge in foreign currency reserves. Not only this, international investors too, since 2018, have started pulling money from the country. Add to this, President Recep Tayyip Erdoğan’s strategies to control inflation by lowering interest rates continued to backfire.
Turkey’s efforts to stabilise economy, before the quake
However, the situation was not always grim for Turkey. When the quake hit, Turkey’s annual inflation rate had slowed to 58 percent. The country’s economy too had registered an average of 5.8 per cent yearly GDP growth between 2002 and 2021. The Turkish economy was expected to grow by about 3-3.5 per cent in 2023, M Murat Kubilay, an independent financial advisor on the Turkish economy said in a conversation to a think tank, MEI (Middle East Institute). He added that the quake will slow the economic activity on the national level and the recovery from it will not happen before 2024. “A loss of 2.0-2.5 per cent of growth is possible, meaning that Turkey’s GDP will only grow at a rate of 0.0-1.0 per cent in 2023. The earthquake will lead to a slight decline in national income per capita,” he said. He further added that inflation will exceed expectations even while energy prices will continue to fall; and “the external deficit will remain high as production capacity and export levels decline”. He also maintained that while financial assistance from international development banks is necessary, it will be limited due to the Turkish government’s poor relations with the West.
Source: Financial express
All Pakistan Textile Mills Association (APTMA) patron-in-chief Gohar Ejaz has warned of approximately 10 million textile workers losing their jobs in Punjab.The APTMA patronin-chief also wrote a letter to Prime Minister Shehbaz Sharif and informed him that close to 10 million textile workers would be unemployed and that there would be a massive drop in exports of around US $ 10 billion. He urged the PM to adopt emergency response measures to deal with the drop in exports and stated that in the recent two years, textile exports have increased up to 55 per cent due to competitive energy rates. He also stated that rates of energy in Punjab were higher when compared to those in Sindh and demanded that the government fix the rates of gas at $7 per MMBtu for the export sector across the country and the electricity price at Rs19.99 per unit. The exports of the textile industry dropped 8 per cent from July to January according to the Pakistan Bureau of Statistics (PBS) data. Textile exports remained at US $ 10.8 billion from July to January as opposed to last year’s US $ 10.93 billion. This decline was ironically witnessed at a time when the federal government increased its focus on exports for valuable foreign exchange but the performance of the textile sector remained unimpressive globally. Meanwhile, the closure of 150 textile mills raised the alarm bell regarding the severe crisis in the textile sector due to skyrocketing energy prices. According to details, the closure of 150 spinning and weaving textile mills in the country was due to an increase in the energy crisis in Pakistan, which also resulted in the unemployment of at least 2 million people.
Source: Apparel Resources
PVH Corp, owner of the Tommy Hilfiger and Calvin Klein brands, has signed an agreement to join the fibre-to-fibre biorecycling consortium founded by Carbios, On, Patagonia, Puma, and Salomon. The existing members voted unanimously for PVH to join the consortium, stating: “The aim of our consortium is to support the development of actionable solutions that address the fashion industry’s contribution to climate change. PVH Corp. can bring a broader perspective to the project.” The two-year collaboration works to prove fibre-to-fibre closed circularity using Carbios’ biorecycling process at an industrial scale. This involves thorough sorting and dismantling technologies for complex textile waste. Carbios’ sustainable technology uses highly selective enzymes that can recycle blended feedstocks. This reduces extensive sorting required by current thermomechanical recycling methods. For mixed fibre textile materials, Carbios’ patented enzyme acts solely on the PET polyester found within. This process creates recycled PET (r-PET), equivalent in quality to virgin PET, that can be used to produce new textile fibres. Consortium members aim to create new products using these r-PET fibres and will supply feedstock in the form of apparel, underwear, footwear and sportswear. Esther Verburg, EVP at Tommy Hilfiger Global and PVH Europe, said: “We are excited to support the development of Carbios’ enzymatic recycling technology, leveraging new solutions that can help us to drive fashion forward for good.” CEO of Carbios, Emmanuel Ladent, stated: “We are delighted to welcome PVH Corp. to join our consortium with other prestigious brands to advance our shared vision of true circularity for the textile industry.”
Source: Just Style
Techtextil North America and Texprocess Americas will once again be reunited for one large, collocated industry event in May 2023. The platform presents an amazing opportunity for visitors to gain essential industry insight, reinforce B2B connections, and become equipped with solutions needed to optimize their production. “The disruptions caused due to the pandemic have created the need for more flexible sourcing and automated technologies that allow the industry to efficiently scale up production,” says Kristy Meade, Vice President of Technical Shows. “Development in future-oriented fields such as 3D design, blockchain, and advanced processes are providing multi-faceted insights for businesses to upgrade their shop floors, and Techtextil North America and Texprocess Americas will serve as the ideal industry meeting point to see these advancements in person. At the 2023 edition, visitors can expect to find the most relevant, on-trend innovations and can discover for themselves how new R&D developments and technologies are revolutionizing all kinds of industries from apparel to upholstery to agriculture to construction — opening doors for the industry’s diverse sourcing needs.” Attendee registration is live. Attendee registration is live. Companies interested in visiting can register at www.techtextilna.link/reg23 to attend Techtextil North America or www.texprocessam.link/reg23 to attend Texprocess Americas, to get access to both shows. Likewise, companies interested in exhibiting can check out the information and latest floorplans and reserve a booth for Techtextil North America at www.techtextilna.link/exhibit23 and for Texprocess Americas at www.texprocessam.link/exhibit23 “This is a significant year for the sewn product industry to rebuild supply chains and optimize efficiency,” says Michael McDonald, president of SPESA. “The synergy created through these co-located shows will generate a business environment that encourages the exchange of knowledge, resources, and technology that not only benefits the companies that participate in the show but also strengthens our collective industries. We are extremely excited to bring the latest advancements of sewn product industry suppliers to live audiences in 2023 and provide a platform in which they can instantly engage with and respond to the information they are being presented.” The organizers — Messe Frankfurt Inc. and SPESA — have also confirmed the addition of several new features to the show floor for the 2023 editions of the exhibitions to elevate the exhibitor and attendee business experience. The exclusive Tech Zone is a new area dedicated to recognizing ground-breaking technology that is currently being implemented in the technical textile, nonwoven, and sewn product sectors. Here, visitors will have the opportunity to meet with top innovators who will be showcasing and discussing the ways in which their products are utilizing new technology to revolutionize their respective fields. Additionally, qualifying smaller companies looking to gain exposure will have the opportunity to present their products in front of thousands of attendees at the new Startup Area. Covering trending topics and the most pressing industry challenges, the Symposium will feature a series of educational sessions about new technologies, through which attendees will also be able to gain in-depth business insights. At these highly acclaimed sessions, industry experts will discuss some of the most pivotal advancements being made in technical textile, nonwoven, and sewn product technology and will highlight ways in which these advancements are changing the industry landscape. Techtextil North America’s versatile range of displays will target agriculture, construction, furniture, apparel, and more. The technologies on display at Techtextil North America can be applied across diverse industry sectors, making it a must-visit platform for visitors to make sourcing decisions. Similarly, Texprocess Americas is the perfect business platform for all professionals involved in the sewn products industry — including retail, brand, and manufacturing executives — to meet with leading international manufacturers and distributors of machinery, equipment, parts, supplies, systems, technology, supply chain solutions, and other products and services used for the development of sewn products. Together, the Techtextil North America and Texprocess Americas platforms aim to empower attendees to integrate technology and fuel innovation that will drive the textile and sewn product industries forward and will be a pivotal meeting point in 2023.
Source: Textile world
