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Buoyed by the services sector, India’s exports rose 14% to a record $770 billion during the last financial year, while imports jumped to a new high of $892 billion, amid a slowdown in goods demand due to the global headwinds. Latest data showed that goods exports went up just under 6% to $447 billion, which is a new high but lower than what was expected at the start of the last financial year. Goods imports rose 16.5% to $714 billion, resulting in a record trade deficit. In March, however, exports fell 6% to $38.4 billion, the second straight month of decline, while imports were almost 8% lower at $58.1 billion, marking the fourth continuous month of fall. Trade deficit was estimated at $19.7 billion, the first increase in four months. Commerce and industry minister Piyush Goyal said that imports fell due to a fall in oil prices, and added that the tough global conditions were putting pressure on goods exports. He, however, drew comfort from the numbers saying that they were in line with the 2022-23 projection of $772 billion with the full services numbers awaited. “GST collections are at a high, exports are at a record high, inflation has come within RBI’s comfort band, foreign exchange reserves are strong, and India is the fastest growing large economy. It reflects the mood of the nation,” he said, adding that record remittances of $100 billion and investment flows will keep the current account deficit under check. Overall, 17 of the 30 major sectors grew during the last financial year and exporters remain upbeat on a good performance during the current financial year as well. Electronics goods, including mobile phones were a highlight, rising over 50% to $23.6 billion. Among services, there is a healthy growth in areas including IT, accounting and business processing, Goyal added. On the imports front, the commerce ministry said that China's share in India's import basket has declined to 13.% in 2022-23, from 15.4% a year ago, with inbound shipments of major items like fertilisers and electronic goods coming from alternative markets. In absolute terms, however, imports from China increased to $98.5 billion during the last financial year, as against $94.6 billion in the previous year, an increase of 4%.
Source: Times of India
As the world economy grapples with uncertainties and slowdown driven by geopolitical tensions and consequent inflationary pressures, emerging market economies are expected to account for around 80 per cent of global growth, with India alone expected to contribute more than 15 per cent, according to recent IMF estimates. India seems well-positioned to become the fastest growing major economy in 2023 and beyond, with more than 6 per cent growth in 2023 and 2024, on the back of resilient domestic demand despite external headwinds. Exports have indeed been the cornerstone of India’s remarkable growth. Having witnessed a y-o-y contraction in merchandise exports of almost 7 per cent during 2020-21, on account of the pandemic-induced crisis, merchandise exports from India had strongly rebounded with a record $422 billion, surpassing the target of $400 billion for 2021-22. This exemplary performance in merchandise exports, reflecting a robust growth of almost 45 per cent when compared to the previous year and a growth of almost 35 per cent, compared to the pre-pandemic level in 2019–20, was actually witnessed while India was grappling with the peak of the second wave of the pandemic during the first quarter of FY22. Much of India’s 9.1 per cent growth for FY22 (revised estimates) could in fact be attributed to the strong performance of exports during the year. Merchandise exports are expected to continue to drive much of India’s estimated GDP growth of 7 per cent during FY23. Despite a contraction in exports during the last two quarters of the current financial year, ExportImport Bank of India forecasts a record high merchandise exports of over $447 billion during FY23, growing at 6 per cent over the record exports of last year. Concomitantly, non-oil exports are forecast to exceed $350 billion for the full year, driven by exports of electronic goods . The performance of India’s exports could be shadowed by deepening global energy crisis, tighter global monetary and financial conditions, continued slowdown in select major trade partners and continued uncertainty around the Russia-Ukraine conflict. Nonetheless, exports have and will continue to play a crucial role, directly as well as through several positive externalities, in India’s journey of transformation into an Asian superpower and an important engine of regional and global growth. An ambitious target of $2 trillion by 2030, as compared to an estimated $750 billion for FY23, has been set by the government. While these targets may seem daunting, achieving these targets may be plausible with concerted efforts from all stakeholders. India is emerging as a strong, reliable, and preferred trade partner for countries and has recently signed trade agreements with Mauritius, the UAE, Australia and is in negotiations with the UK, European Union, Canada, Bangladesh, GCC and Israel for signing such agreements. Immediate integration into global value chains, through manufacturing of quality products at scale is an imperative to seize the opportunity arising out of possible realignment of supply chains away from China. Supported by the Atmanirbhar Bharat Abhiyan and the government’s PLI scheme, India could upscale, digitise and modernise its manufacturing sector to address supply chain constraints to avert future disruptions. Within manufacturing sector, there is need for to shift structurally from low value-added sectors to high value-added sectors, which would necessitate increased spending on R&D, while encouraging adoption of advanced digital technologies. Areas that exhibit a promising future for India to become an important player in global supply chains could include manufacture of medical devices, high-end mobile phones and tablets, high efficiency solar photovoltaic modules, and advanced chemistry cell batteries, to name a few. These efforts would contribute towards realising the aspiration of India becoming a $5 trillion economy in the near future, which is also more integrated with the global ecosystem than ever before. Bangari is Managing Director, and Jandhyala is an economist, at ExportImport Bank of India. Views are personal.
Source: The Hindu business line
India’s merchandise exports plunged 13.9% on year in March to $38.4 billion, and imports contracted by 7.9% to $58.1 billion, official data showed on Thursday. Both onward and inward shipments have been in the negative zone in the final four months of the year, but the pace of contraction sharpened for exports in March, indicating that the global demand slump and trade headwinds have started to take a toll on India’s foreign trade. At $447.5 billion, goods exports for the whole of the last financial year were, however, still up 6% on year, thanks to strong growth registered in the initial four months of the year. Merchandise imports grew 16.5% $714 billion in 2022-23. In keeping with the trend since January, trade deficit in March came in at a relatively benign $19.73 billion, as a moderate slowdown in the economy coupled with a fall in oil prices led to the relatively uncommon situation of sustained import contraction. This, however, augurs well for the current account and will ensure that the deficit in this account remains within manageable levels in the short term. Commerce and industry minister Piyush Goyal, who was on a visit to France and Italy from April 11-13, told reporters in Rome on Thursday that India’s exports of goods and services together had scaled “new heights” and increased by 14% to $770 billion in 2022-23 as against $676 billion in 2021-22. The overall imports of goods and services touched $892 billion in the last fiscal, the minister said, adding that it reflects that the country’s economic activities are growing and that has supported the exports. Also read: NHAI beautifies Dhaula Kuan-IGI Airport stretch! Get ready for a visual treat with these features An official statement released by the commerce ministry here said: “Under merchandise exports, 13 of the 30 key sectors exhibited positive growth in March 2023 as compared to the same period last year.” Among major sectors, these include iron ore (6.85%), drugs and pharmaceuticals (4.19%), electronic exports Subscribe to FE Daily Newsletter for latest updates on markets, business, money, infra & more, right in your mailbox Enter Your Email Subscribe Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news. Follow us on First published on: 14-04-2023 at 05:30 IST goods (57.4%), meat dairy and poultry products (3.44%) marine products (12.85%), fruits and vegetables 911.37%) and rice (10%). Exports excluding petroleum and gems & jewellery (low value addition items) was $30.2 billion in March, closer to the level of $30.99 billion in the year ago month, indicating that the export decline was largely due to the fall in values of these products.
Source: Financial express
International trade in the domestic currency will help reduce transaction cost for the industry and several countries are in discussion with the RBI on this, Commerce and Industry Minister Piyush Goyal said on Thursday. Last year, the RBI and Finance Ministry asked the top management of banks and representatives of trade bodies to push export and import transactions in the rupee. They want banks in India to connect with their foreign counterparts for opening special rupee vostro accounts to facilitate cross-border trade in the Indian currency rather than the popular mode of the U.S. dollar. Mr. Goyal said that today several countries are realising that in trade, there is a need for change in currency for that and it involves a conversion cost, which in turn increases transactions cost also. "We can address these issues through rupee trade (arrangement)," he told reporters here, adding that several countries are under discussions with the RBI on the subject. Several banks, including HDFC Bank and UCO Bank, have opened special vostro accounts as of date to facilitate overseas trade in the rupee. Sberbank and VTB Bank -- the largest and second-largest banks of Russia, respectively -- are the first foreign lenders to receive the approval after the RBI announced the guidelines on overseas trade in the rupee in July last year. Another Russian bank Gazprom, which does not have its unit in India, has also opened this account with Kolkata-based UCO Bank. The move to open the special vostro account clears the deck for settlement of payments in rupee for trade between India and Russia, enabling cross-border trade in the Indian currency, which the RBI is keen to promote. The RBI has allowed the special vostro accounts to invest the surplus balance in Indian government securities to help popularise the new arrangement.
Source: The Hindu
Imports from Russia have jumped five times to $32.9 billion during April-December, making it the fourth largest trading partner. If current pace of increase persists, Russia's imports could hit $50 billion, just shy of the value of goods shipped from the US, which is the third largest source of imports for India. At the same time, if the US and the maintain their pace of growth during the last quarter of the current financial year, they could end the year with exports to India adding up to $56 billion and $54 billion, respectively. During April-December 2022, the two countries saw exports to India rise by around 25% each. Russia has moved up from being India's 20th largest source of imports last financial year due to the massive surge in crude petroleum flows as the government went bargain hunting to contain the cost of fuel, while also seeing this as an opportunity to push export of petrol and diesel to countries such as the Netherlands and Brazil. Fertilisers are the major contributor to higher imports from Russia.
Source: Times of India
India and Italy have discussed progress of talks on the proposed free trade agreement between New Delhi and the European Union (EU) and hope for its early conclusion, the commerce ministry said on Thursday. In January last year, India and the EU resumed negotiations for a free trade agreement, investment protection and Geographical Indications (GI). Italy is a member of the EU. “The ministers underlined the importance of achieving a free, balanced and fair free trade agreement and hoped that it would be concluded soon,” it said. They also agreed to the convening of the next session of the Joint Commission on Economic Cooperation (JCEC) in Rome in the last week of September. Tajani suggested the formation of a Joint Working Group in the strategic areas such as space, technology, defence and agriculture to increase cooperation. Tajani suggested strengthening the parliamentary friendship group diplomacy between the parliaments of the two countries and exploring scope for having a cyber dialogue. Goyal also emphasised on enhancing the bilateral cooperation in the field of clean energy to achieve sustainability to mitigate the negative impact of climate change. Goyal is on an official visit here. He is accompanied by a large business delegation which includes Indian industry and exporters from different sectors. Meanwhile addressing businesses of India and Italy here, Goyal said that huge investment opportunities are there in India for Italian companies. India-Italy bilateral trade stood at over USD 16 billion in 2022. During AprilJanuary 2022-23, India’s exports to Italy stood at USD 7.15 billion, while imports aggregated at USD 4.6 billion. The trade gap is in favour of India. Italy is the 17th largest foreign investor in India, with a cumulative FDI of USD 3.25 billion between April 2000 and December 2022. It accounts for about 0.52 per cent of the total FDI India received during the period. The main items of Indian exports to Italy are ready-made garments, leather, iron ore, motor vehicles, textiles, chemicals, gems and jewellery. Main imported items include machinery, machine tools, metallurgical products and engineering items. Around 140 large Italian companies are active in India. Some of the major Italian companies that have invested in India are FIAT Auto, Heinz Italia, Italcementi, Necchi Compressori, Perfetti, Lavazza, ENI, SAI India, Isagro (Asia) Agrochemicals and Piaggio. Indian companies present in Italy are in sectors such as IT, electronics, pharmaceuticals, automobile, textile and engineering. The prominent Indian companies operating in Italy include TCS, Wipro, Engineers India Limited, L&T, Mahindra & Mahindra, Ranbaxy, and Raymonds.
Source: Financial express
The Global Sovereign Debt Roundtable (GSDR) has agreed on urgently improving information sharing, including on macroeconomic projections and sustainability assessments, at an early stage of debt restructuring processes. Co-chaired by the International Monetary Fund Managing Director Kristalina Georgieva, World Bank Group President David Malpass and Union Finance Minister Nirmala Sitharaman, the GSDR on Wednesday discussed debt sustainability, and debt restructuring challenges and ways to address them. Sitharaman stressed on debt transparency and information-sharing as well as clarity on the comparability of treatment, predictability and timeliness of the debt restructuring process, including those for steps involved in the process and ways to assess and enforce. Discussions focused on the actions that can be taken now to accelerate debt restructuring processes and make them more efficient, including under the G20 Common Framework, according to a statement issued by the roundtable, . “We agreed on the importance to urgently improve information sharing including on macroeconomic projections and debt sustainability assessments at an early stage of the process. The IMF and World Bank will rapidly issue staff guidance on information sharing at each stage of the restructuring process,” it said. “The meeting discussed the role of Multilateral Development Banks (MDBs) in these processes through the provision of net positive flows of concessional finance. The International Development Association’s (IDA) provision of positive net flows and the ex-ante implicit debt relief through increased concessionality and grants to countries facing higher risks of debt distress was welcomed,” the statement said. Nirmala Sitharaman world bank Subscribe to FE Daily Newsletter for latest updates on markets, business, money, infra & more, right in your mailbox Enter Your Email Subscribe Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news. Follow us on First published on: 13-04-2023 at 07:12 IST To clarify key concepts to support predictability and fairness of debt restructuring processes, a workshop will be organised in the coming weeks on how to assess and enforce comparability of treatment, it said. “Moreover, further work will be undertaken on principles regarding cut-off dates, formal debt service suspension at the beginning of the process, treatment of arrears, and perimeter of debt to be restructured, including with regard to domestic debt,” the statement said. This work will also help in clarifying potential timetables to accelerate debt restructurings, it said.
Source: Financial express
Trade ministers of India and France have held discussions related to the ongoing talks for a free trade agreement between India and the European Union, the commerce ministry said on Wednesday. Commerce and Industry Minister Piyush Goyal was here to attend India-France Business Summit and CEOs roundtable meet. He held bilateral meetings with several CEOs and French minister for Foreign Trade, Economic Attractiveness and French Nationals Abroad Olivier Becht. “The ministers discussed priority areas related to India – EU FTA (free trade agreement) negotiations where issues related to market access were deliberated,” it said. Goyal also said India is looking to buy 2,000 commercial aircraft in the next 10 years and there is a huge opportunity to make commercial aircraft in India to meet domestic and international demand. With the purchase of Rafale and the recent Airbus order, more value has been added to this partnership, he added. In January last year, India and the EU resumed negotiations for a free trade agreement, investment protection and Geographical Indications (GI). Becht mentioned that bilateral trade was USD 15.1 billion in 2021-22, doubled in the last decade; and foreign direct investment (FDI) has been USD 10 billion from France which is a top foreign investor in India. There is a will from French companies to invest in India, he added. Goyal highlighted that by breaking language barriers trade can further be expanded. He also invited the French minister to India along with the French community on the sidelines of G20 Trade Ministers meet in August 2023. Along with both the ministers, perspectives were shared by Ambassador of India to France Jawed Ashraf; Vice-President, CII and Chairman & Managing Director, ITC Sanjiv Puri; Executive Director, International Energy Agency Faith Birol; and CEO, Danone Antoine de Saint-Affrique.
Source: Financial express
Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles Shri Piyush Goyal met the Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation in Foreign Office, Government of Italy, H.E. Mr. Antonio Tajani yesterday to review the entire gamut of bilateral trade and economic relations. Shri Goyal arrived in Rome yesterday for his two-day visit to Italy. The Ministers exchanged views on how the India-Italy trade & economic partnership can be leveraged for growth across diverse sectors. During the meeting, both Ministers expressed happiness over elevation of the bilateral relations to the level of Strategic Partnership following the recent state visit of the Prime Minister of Italy, Ms. Giorgia Meloni to India. Mr. Tajani suggested the formation of a Joint Working Group in the strategic areas such as space, technology, defence, agriculture, etc. to follow up on the important developments under these areas. Both Ministers further expressed satisfaction at the high growth in bilateral trade between India and Italy, which has reached around US$ 16 Billion in 2022 and resolved to expand it further. Shri Goyal briefed Mr. Tajani on the progress made on India-EU FTA negotiation. The Ministers underlined the importance of achieving a free, balanced and fair Free Trade Agreement and hoped that it would be concluded soon. They also agreed to the convening of the next session of the Joint Commission on Economic Cooperation (JCEC) in Rome in the last week of September 2023. Mr. Tajani suggested strengthening the Parliamentary friendship group diplomacy between the Parliaments of the two countries and exploring scope for having a cyber dialogue. Shri Goyal briefed Mr. Tajani about India’s G-20 priorities and extended an invitation to him for the G20 Trade Ministers Meeting in India in August 2023. Mr. Tajani assured of his full support to make India’s G20 Presidency successful. Shri Goyal emphasized on enhancing the bilateral cooperation in the field of clean energy to achieve sustainability to mitigate the negative impact of climate change. He stated that developed countries make the low cost climate financing and technology available to the developing countries to deal with the climate change issue effectively. Mr. Tajani gave the guided tour to Shri Goyal of the art gallery of Farnesina, the office of Foreign Ministry, Government of Italy.
Source: PIB
Bangladesh, which exports garments worth $3.9 billion a month, targets $100 billion annual exports in the coming years and is looking for suppliers of yarn and fabric from India. Bangladesh, which currently imports yarn and fabric from China, India, and Vietnam, wants to increase its sourcing from Tamil Nadu and six delegates from BGMEA and Bangladesh Garments Executive Association visited the State recently and had an interactive meeting with Indian Texpreneurs Federation. As many as 85 Indian textile entrepreneurs from the Federation attended the meeting and discussed the demand for blended fabrics and value added yarns, sustainability related certifications, sustainable practices, sourcing more from India, ready to cut processed fabrics, and demand for woven fabrics in Bangladesh. According to Prabhu Dhamodharan, convenor of the Federation, Bangladesh wants to increase its apparel exports and source more woven fabric, and processed, ready-to-cut fabric of different fibres from India. The industry and trade in India will have to make use of the opportunity and need to be competitive to China in prices to tap the potential. About 40 spinning mills and 60 fabric companies in the State are already supplying to Bangladesh. “They need raw material and we have the scope to supply,” he said. The Bangladesh delegation visited clusters such as Surat and Delhi too.
Source: The Hindu
The ninth round of the India-United Kingdom free trade agreement (FTA) talks is scheduled from April 24 to 28, commerce department officials said on Thursday. The officials’ statement comes days after India dismissed reports that the FTA talks had been stalled over the recent attacks involving pro-Khalistan groups in London. While negotiations cover 26 policy chapters, 13 chapters have been closed so far. The eighth round of negotiation was completed last month in New Delhi. Bilateral interaction between the two trade ministers was also held in March to take stock of the progress in the India-UK trade agreement-related negotiations. Government officials said an investment treaty was also being negotiated as a separate agreement–Bilateral Investment Treaty. It will be concluded simultaneously with the India-UK FTA. Both nations had kick-started formal negotiations earlier January 2022 and had set an ambitious Diwali deadline towards the finalisation of the trade pact. India had then set an internal/unofficial deadline of March 2023. Both sides now continue to thrash out the thorny issues pertaining to the trade pact. According to British media reports earlier this week, New Delhi had stalled negotiations with the UK over an FTA as it wanted tougher action against these groups behind the attack on the Indian High Commission in London last month. “The report is baseless,” an Indian government source had then said.
Source: Business-Standard
Outbound shipments from India saw their sharpest contraction in nearly three years in March, declining 13.9 per cent year-on-year (YoY) to $38.38 billion, as geopolitical disruptions and a slowdown in developed economies weighed on external demand. In May 2020, India’s exports had slumped 34.6 per cent as the Covid-induced lockdown hit supply chains. For the entire financial year 2022-23 (FY23), however, merchandise exports grew 6 per cent to $447 billion, data released by the commerce and industry ministry showed. The rise was mainly due to robust growth during the first six months of FY23. The impact of global headwinds such as a slowdown in demand from developed economies due to high inflation, monetary policy tightening, and a moderation in commodity prices became visible in October onwards. India imported goods worth $58.11 billion in March, down 7.89 per cent YoY mainly because of lower import of items such as fertilisers, coal, petroleum products, and electronic goods. On a cumulative basis, growth in imports was 16.5 per cent to $714 billion during FY23, the data showed. India’s trade deficit, however, widened to a three-month high at $19.73 billion in March. On a cumulative basis, the trade gap widened from $191 billion in FY22 to $267 billion in FY23. Madan Sabnavis, chief economist at Bank of Baroda, said that going ahead, a further slowdown is expected in exports’ growth since global demand will remain weak. “Further, with the rupee tending towards appreciating rather than depreciation, the currency advantage would be weaker. Imports would probably remain steady, thus putting pressure on the deficit, which could increase depending on how oil prices move,” Sabnavis said. Aditi Nayar, chief economist and head of research and outreach, ICRA, said a deeper contraction in India’s merchandise exports during the current fiscal year would weigh on the performance of the manufacturing sector and act as a drag on gross domestic product (GDP) growth. India’s merchandise exports witnessed contraction in 17 out of 30 key sectors in March. Key export items that dipped last month included petroleum products (-44.59 per cent), plastics and linoleum (-16.23 per cent), gems and jewellery (-21.64 per cent), engineering goods (-0.16 per cent), and cotton yarn (-17.86 per cent). Among sectors that experienced growth included electronic goods (69.84 per cent) and drugs & pharmaceuticals (12.45 per cent). Commerce department officials said China’s share in India’s merchandise imports declined to 13.79 per cent in 2022-23 from 15.43 per cent a year ago. This was mainly due to a decline in electronic goods imports by around $2 billion in 2022-23 (April-February) compared to the same period last year. They also said China’s import share in electronic goods had declined from 48.1 per cent in 2021-22 (April-February) to 41.9 per cent in 2022-23 (Apr-Feb). Fertiliser imports from China also fell significantly -- from 21.9 per cent in 2021-22 (April-February) to 13.9 per cent in 2022-23 (April-February), Commerce Secretary Sunil Barthwal said. Barthwal said the government had surpassed the goods and services exports target of $750 billion and reached $770 billion in FY23. The $770 billion overall exports included actual merchandise exports for FY23 and the commerce department’s services exports projection of $322.72 billion for the full year, up 26 per cent over the previous year. “Despite global headwinds, we have not only achieved the target, but also surpassed it,” Barthwal said. UNCTAD in its latest trade and development report update said world trade was facing several headwinds and that weaker economic activities worldwide would inevitably result in feebler external demand, and thus subdued international trade. “As a result, the annual growth of international trade is expected to remain close to the growth of the world economy in 2023 (of 2.2 per cent),” it added.
Source: Business-Standard
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Apex Mills, a fully integrated domestic supplier and manufacturer of custom technical and specialty textiles and fabrics, has named Joan Izzo as new Senior Marketing Manager. She will build greater awareness of the company brand as an innovative supplier and fabricator as well as promote newly expanded capabilities. She brings 25 years of experience with global manufacturers of fibers, fabrics, elastomeric films, and engineered materials across a wide variety of industries. Most recently, she was Marketing Director at INDA, the Association of the Nonwovens Industry. Izzo has strong expertise in the Fortune 500 B2B arena, marketing to diverse sectors including apparel, automotive, consumer products, healthcare, filtration and furnishings. Apex Mills’ recent acquisition of the former Hanesbrands Inc. facility in Woolwine, VA offers new opportunities for its customers, “With her excellent experience, Joan will increase awareness of Apex Mills by marketing our innovative solutions for customers seeking high quality, made in USA products,” said Jonathan Kurz, Apex Mills President and Chief Executive Officer. “She will play a critical role in developing and supporting growth strategies.” The 240,000 sq. ft. facility, operating under the name Insight Textiles, has a long history of producing critical quality elastomeric fabrics for the intimate apparel and shapewear industries. New offerings include elastomeric fabrics used in the orthopedic, medical, hospitality, and home furnishings industries. This plant, in combination with Apex Mill’s increasing capacity and diversity of three-dimensional knitting capabilities further enhances its position as a leading supplier of domestic spacer fabrics known for innovative performance, breathability, and durability. In addition to knitting, this facility provides dyeing, finishing and surface treatments for the most demanding applications. “I am excited to join Apex Mills and be part of enhancing the customer experience,” Izzo said
Source: Textile world
As part of its commitment to the industry, Südwolle Group is proud to be one of the partners of “The Elephant in The Room,” an exhibition that celebrates the textile creation process and explores the challenges and complexities of the industry. The exhibition, which will take place during the Milan Design Week from April 17th to April 23rd, 2023, at Castello Sforzesco in Milan, is presented by BYBORRE in partnership with Castello Sforzesco, City of Milan, and several supply chain partners, including Südwolle Group. The exhibition aims to provide an informative experience that showcases the past, present, and future of textile creation, from sourcing materials to finished products. It emphasizes the importance of transparency, collaboration, and a fair supply chain. The exhibition and experience grants access to and shows the various steps involved in the textile supply chain, from sourcing materials to the creation of finished products. Informative exhibits in the castle’s ‘Sala della Balla’ provide a better understanding of the complexities and challenges in this industry, all while being surrounded by the twelve Trivulzio Tapestries that are a testimony to the rich history and craftsmanship of the textile industry. Over the course of three days, the consortium of partners and Nieuwe Instituut are hosting panel discussions to bring together experts in design, architecture and material to discuss transparency, collaboration and co-design, and the importance of a (fair) supply chain. In addition, recently launched initiative THE NEW STIJL by …,staat will host a series of talks with creatives across different disciplines and styles, including Sabine Marcelis, Amber Jae Slooten (The Fabricant) and Bas Timmer (Sheltersuit). Through its participation in “The Elephant in The Room,” Südwolle Group aims to promote the importance of sustainable and transparent practices in the textile industry and highlight its commitment to these values. The company looks forward to contributing to a meaningful and informative exhibition that celebrates the textile creation process and encourages open and honest conversations about the industry.
Source: Textile world
Success in the highly-competitive Enterprise Resource Planning (ERP) software market requires continual development of new tools and technology advancements that simplify manufacturing. Global Shop Solutions, a leader in ERP software for manufacturers around the globe, is proud to announce the promotion of Trent Maynard to Director of Product & Engineering. “Our primary focus at Global Shop Solutions has always been to simplify manufacturing for our customers,” says Dusty Alexander, President & CEO. “From Trent’s first day with us, he demonstrated a relentless attitude for finding new product advancements and technology to make our customers’ lives easier. That’s exactly the kind of person I want leading our product into the future.” Maynard began his career in the manufacturing industry working for a company that was a customer of Global Shop Solutions ERP software. Shortly thereafter, he accepted a position at Global Shop Solutions providing software implementation and training for new and existing customers. He then transitioned to an operations and technical consultant and business analyst, where he designed and created tailored solutions for existing and potential customer challenges. Prior to this promotion, Maynard served as an R&D Manager and created some of Global Shop Solutions most impactful product advancements in terms of meeting customer needs and positioning the company for new growth. “My focus has been three-fold,” says Maynard. “Number one: hired and retained a team with some of our smartest people to position our ERP product as a technical leader in the industry. Number two: organized our base code to make our product run tighter, faster, and more efficiently, while also enabling customers to implement customizations without having to change the underlying code. Number three: simplified the process for customers to upgrade to new versions.”
Serving Internal and External Customers As Director of Product & Engineering, Maynard wants to make sure Global Shop Solutions creates an ERP product their customers love to use because it helps them do their jobs more effectively and efficiently. He also wants to attract new customers by offering a better product than they’re currently using. “Ultimately, it’s all about making sure our product ticks all the boxes for our customers,” says Maynard. “Often they don’t know what is possible, so we have to listen and understand what they’re trying to accomplish and then figure out how the software can solve their pain points. We also want to build a product that appeals to our employees, that our engineers can enjoy working on and be proud of and that attracts top talent to Global Shop Solutions.”
Full Speed Ahead to the Future One shift popular for ERP software is the ability to integrate with outside software and technologies. Maynard’s responsibilities will include implementing artificial intelligence (AI) testing tools and best practices and modernizing Global Shop Solutions’ software interfaces and tech stack. “How we build our tech stack has significant implications for what happens downstream with our customers, and I can’t think of a better person to lead the way than Trent,” says Alexander.
Mike Melzer, VP of Operations & Service at Global Shop Solutions, agrees. “It’s rare to find someone so talented in the technical field who also has extensive shop experience,” he says. “The one thing we’ve been really good about doing as a company is listening when our customers give us ideas on where we can get better. Trent is open to listening and then guiding the ship where we need to go. I trust his knowledge and experience, and his background gives us a huge advantage in our marketplace as our company continues to move forward.”
Source: Textile world
ISKO has made a point of driving sustainability in garment production since the early days with its Responsible Innovation approach, yet there are still challenges ahead for the industry as a whole when it comes to production processes which especially in the denim industry have been recognized as some of the most harmful and impactful. What the sector needs is advanced technologies, both scalable and affordable, to allow the denim industry to reduce its impact on workers and on the environment, that and collaboration. Melissa Clement, ISKO’s Head of product development, added: “The challenge is to invest in new technologies and machineries.” ISKO has proved times and times again its stance on responsible textile supply chains, building consumer awareness, developing cutting-edge technologies and closed loop processes – Ctrl+Z, material science solution which results in fabrics made from a pure blend of recycled and regenerated content – as well as opening its first UK product development center, in London, to help brands develop their products employing sustainable processes. “Consumers awareness is key because the throwaway culture still needs addressing” stated Melissa Clement. These were the highlights of the conversation led by ISKO’s Melissa Clement, with denim consultant Amy Roberton at the panel “Closing the denim loop: the power of knowledge and collaboration” held at the Drapers Sustainable Fashion Conference in London. “As the scenario keeps evolving, it is essential that ISKO as leader gets an important point across as it continues to lead the way of innovation in denim: good practices, whether they regard washing or material, can be implemented at any scale, with the help of important partnerships to drive shared knowledge and bring circular ideas to life.” remarked Melissa Clement.
Source: Textile world
A multi-award-winning pioneer in hi-tech materials eliminating the use of fresh water, reducing pollutants and providing fully reusable fabrics with the first in-house circular solution offering in textiles, Meryl Fabrics will lead a global textile webinar programme, exploring how fabric selection can deliver the circular economy in workwear manufacture. Meryl Fabrics has been invited by the Professional Clothing Industry Association Worldwide Ltd (PCIAW®) to join other esteemed leaders to share their knowledge to help solve the sustainability problem of professional clothing. Businesses wishing to gain insights from the information provided can register for a free-to-attend webinar, which will go live at 2:30 pm (BST) on Friday, 21st April 2023. Nisha Muire, Uniform Program Manager for Air Canada and Karen Sparrow, Director for Red Sparrow Consulting, will join the webinar as guest speakers discussing the versatile applications of the Meryl Fabrics sustainable textiles. Stanley Russell, Owner & Director of APT Fabrics, will join the webinar to discuss the technological breakthrough in circular fabric solutions, which removes the need for water, chemicals and solvents in the textile dyeing process whilst preventing the problem of microplastic shedding. Jamie Meigham, CEO and Co-Founder of Uplift360, will also speak on the webinar to help evaluate the price vs cost point of view in the tender process and how changing how we consider lifetime cost can help to justify spending on the quality that lasts. Peter Broom, Co-Founder & Director of Meryl Fabrics, said: “Our company is on a mission to lead a radical environmental change in the materials used in the textile industry, starting from a molecular quality structure to provide fully reusable innovative yarns and fabrics with zero microplastic pollution. “We are in a privileged position to be able to support businesses in making the transition to achieving circularity in their workwear procurement and are looking forward to sharing our knowledge base.” To obtain more information on the complimentary webinar and register for the event,Meryl Fabrics celebrated in 2022 a record year for awards after chalking up an impressive 11 winner, highly commended and finalist trophies presented by international and UK bodies in recognition of their firm’s significant achievements in achieving sustainability with textile innovation. And following this, the pioneering firm has secured another four major finalist accolades in the first quarter of 2023. Most notably, the firm was named Winner of the Circular and Recycling Award, National Sustainability Awards 2022; Winner – of the Industry Award for Sustainability, Professional Clothing Industry Association Worldwide Ltd (PCIAW®) and Winner of the Sustainability Award, Med-Tech Innovation 2022. Driven by problem-solving, the award-winning Meryl Fabrics uses hydrogen technology to enhance the molecular structure of fibres, seal-in microplastics within the yarn and improve the durability of garments. Their continual innovation in Meryl® Eco Dye offers a waterless dyeing process, saving thousands of litres of water during fabric manufacture as they reengineer the presence of apparel. Meryl Fabrics seeks to replace cotton with its exceptionally soft touch fabrics that feature natural stretch and moisture management properties designed to be recycled and offer other businesses a fully circular model in one place.
Source: Textile world
International technology group ANDRITZ entered an ambitious partnership with Pellenc ST and Nouvelles Fibres Textiles to set up the very first industrial-scale automatic textile sorting line in France combining automated sorting and recycling technology. The partners have expert knowledge from decades of experience in sorting technologies (Pellenc ST), textile machinery and processes (ANDRITZ), as well as post-consumer textile value chains from sorting to manufacturing (Nouvelles Fibres Textiles newly founded by Les Tissages de Charlieu and Synergies TLC). The new textile sorting line being built is the first to combine Pellenc ST’s automated sorting technologies with ANDRITZ’s recycling technologies. It will process post-consumer textile wastes to produce recycled fiber engineered for the spinning, nonwoven and composite industries. Starting operations in mid-2023, it will serve as a production line for Nouvelles Fibres Textiles, as an R&D line for the three partners, and as a test and demonstration center for their customers. Nouvelles Fibres Textiles aims to become a reference in both industrial grade material production and industrial scale post-consumer textile sorting, thanks to innovative technologies with hard point removal providing pure fibers, selective colors, and differentiated fiber types. Nouvelles Fibres Textiles’ partners also work closely together in R&D at the ANDRITZ Laroche and Pellenc ST technical centers to keep pushing technical boundaries. Eric Boël, President, Nouvelles Fibres Textiles, comments: “We are very proud to announce the launch of the Nouvelles Fibres Textiles partnership. Several years of R&D involving key players from both textile and household waste management industries made this possible. We all shared our knowledge and expertise to promote on-the-ground circularity for textiles by full integration of the value chain. This guarantees traceability of recycled materials, mitigates the textile and composites industries’ environmental impacts and reduces their carbon footprint while creating meaningful jobs.”
Source: Textile world
