INTERNATIONAL
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The proposal to set up PM MITRA Park in village Bhensola, Badnawar Tehsil, Dhar district of Madhya Pradesh received formal approval from the Government of India in March, 2023. The program for MoU signing between Government of India (Ministry of Textiles) and Government of Madhya Pradesh is taking place in Dhar district of MP on 21.05.2023. This will be attended by the Union Minister of Textiles, Commerce & Industry and Consumer Affairs, Food & Public Distribution, Shri Piyush Goyal, Chief Minister of MP, Shri Shivraj Singh Chouhan, Union Minister of State for Textiles and Railways, Smt. Darshana Vikram Jardosh, officials of Ministry of Textiles and State Government. Around 150 investors from across India are expected to attend the event. This mega park is being set up on 1,563 acres of land in Bhensola village of Dhar district. The entire land parcel is under the possession of MPIDC. This site is located at a distance of 110 kms from Indore and 85 kms from Pithampur Industrial cluster. It is located at a distance of 50 kms from Ratlam and 50 kms from Delhi Mumbai expressway. Similarly, the distance from the nearest port, Hazira, is 452 kms. The Park would have common infrastructure like road, electricity (220 KV, 132 KV, 33 KV), water, Effluent and other support facilities like plug & play infrastructure, like CETP, workers' hostel & housing, training & skill development, incubation centres, warehousing and logistics, etc. Madhya Pradesh Industrial Development Corporation (MPIDC) will apply for Power DISCOM Licence which will enable units to get power at INR 4.50 approx. Water for industrial use will be made available from Mahi Dam at Rs. 25 per KL. The PM MITRA park will create direct employment for 50000 people and indirect employment for 1.5 lakh people which will directly benefit the entire Malwa region, especially the Dhar, Jhabua and Ratlam districts. This will be a golden employment opportunity for the tribal youth and females of this region. Moreover, it will increase the competitiveness of the Indian textile sector and attract the leading investors from across the world. PM MITRA Park Bhensola, MP has already attracted more than Rs. 6000 Crore of intentions to invest from prominent textiles and garment groups across India. Today, Madhya Pradesh has emerged as an attractive market in the field of apparel manufacturing. The number of garment manufacturing units in the state which was 11 in 2003 has now increased to 53. Usually investments of Rs. 100 crores or more are eligible to claim the customized package in various sectors. Since, the garment sector is labour intensive and employs mainly women workers, the state government has given mega status to garment industries on investment of more than Rs. 25 crores in plant and machinery to give more incentives to the garment units and make them eligible for customized package. In an effort to attract large-scale garment industries, the state government has a "Special Readymade Garment Policy", in which financial assistance of up to 200 percent of their investment is given to the garment units. As a result of this investor friendly policy, new investment of more than Rs. 3,000 crores has come in the textile sector in the last 2-3 years and new employment opportunities have been created for women and women empowerment has been promoted.
Source: PIB
Minister of Textiles Piyush Goyal on Sunday said Mega Integrated Textile Region and Apparel (MITRA) Park in Madhya Pradesh could see an investment of about Rs 6,850 crore. Speaking at the MITRA park launch, Goyal said other parts of the state may receive investment of Rs 8,675 crore. Earlier, it was announced that the MITRA park would generate 50,000 direct and 1.50 lakh indirect employment. The park is being set up on about 1,563 acres of land in Bhensola village of the Dhar district. The entire land parcel is under the possession of MPIDC (Madhya Pradesh Industrial Development Corporation). This site is located at a distance of 110 kilometre from Indore and 85 kilometre from Pithampur Industrial cluster. It is located at a distance of 50 kilometre from Ratlam and 50 km from Delhi Mumbai expressway. Similarly, the distance from the nearest port, Hazira, is 452 kilometre. Centre has plans to launch seven similar parks and has received 13 proposals. They will be spread over 1,000-acre with a total outlay of Rs 4,445 crore in five years. Textile Ministry has inked memorandum of understanding (MoU) with Karnataka, Uttar Pradesh and Tamil Nadu. These MoUs have proposed investments worth Rs 5,000 crore have been proposed, taking the total proposed investments received in four such parks to around Rs 12,000 crore. According to a PIB release, inspired by the 5F vision of the Prime Minister (i.e., Farm to Fibre to Factory to Fashion to Foreign), the PM MITRA Parks are a major step forward in realising the Government’s vision of making India a global hub for textile manufacturing and exports.
Source: The businessworld.in
Indian Texpreneurs Federation (ITF) has signed a Memorandum of Understanding (MoU) with Netherlands-based Good Fashion Fund to support textile units achieve sustainability goals. An initiative by Laudes Foundation and Fashion for Good, the $20 million sustainabilityinitiative fund is managed by Fount. It aims to create “systemic change in the textile and apparel industry by encouraging mainstream uptake of impactful and disruptive production technologies” said a press release from ITF. It provides five-year Dollar loans to apparel and textile manufacturers in India and Bangladesh to enable them to implement “highly impactful and disruptive innovations that deliver both economic growth and good fashion practice.” The fund encourages its customers to use safe and recyclable materials, clean and efficient energy, reduce water consumption and waste (water) generation and create better working conditions and fair jobs for workers. Those who borrow from the fund should achieve 50% reduction in one of the three - materials, energy or water. An eligible investee can avail of $one million to $2.5 million based on the project for sustainability-related captive investment. Bob Assenberg, Fund Director, Good Fashion Fund, participated in a panel discussion organised here recently by ITF. Prabhu Dhamodharan, convenor of ITF, said about half a dozed textile and apparel units in this region are interested in the fund. They do not have to provide security or margin money and get better visibility for their products by using the fund.
Source: The Hindu
Prime Minister Narendra Modi and his British counterpart Rishi Sunak on Sunday reviewed the progress of the ongoing free trade agreement (FTA) negotiations and agreed for their trade teams to continue at pace towards an "ambitious" deal, Downing Street said. Modi and Sunak met on the sidelines of the summit of the G7 advanced economies here in Hiroshima. In their second in-person meeting since the G20 Summit in Indonesia last November, the two leaders are said to have discussed the deep ties shared between the nations. In relation to India's G20 presidency, Downing Street also indicated that the British Indian leader's first visit to India is expected to be for the G20 Summit in New Delhi later this year. "The leaders reflected on the deep ties between the UK and India, rooted in our human connections, and the vital importance of democracy and fair and open trade," said a Downing Street spokesperson. "They discussed progress on a UK-India Free Trade Agreement. The leaders agreed that their teams would continue to work at pace to finalise an ambitious and mutually beneficial deal," the spokesperson said. "The leaders discussed the wider objectives of the G7 Summit and the Prime Minister [Sunak] committed his strong support for India's G20 Presidency, which comes at a crucial time for global security and prosperity. He looked forward to working closely with Prime Minister Modi ahead of a successful Summit later this year," the spokesperson added. Modi is also said to have passed on his "warm congratulations" to Sunak on the Coronation of King Charles III earlier this month, where India was represented by Vice-President Jagdeep Dhankhar. Meanwhile, the Ministry of External Affairs (MEA) readout of the meeting echoed similar outcomes of the in-person meeting between the two leaders, as they reviewed the India-UK Comprehensive Strategic Partnership, including taking stock of progress in the India-UK FTA negotiations. The two nations last month concluded the ninth round of FTA negotiations with detailed discussions across a range of policy areas. Recently, Britain's Chief Negotiator for the FTA - Harjinder Kang - was appointed the country's new Trade Commissioner to South Asia and Deputy High Commissioner for Western India, based in Mumbai. According to official UK government statistics, India was the UK's 12th largest trading partner in the four quarters to the end of Q3 2022, accounting for 2.1 per cent of total UK trade. They also agreed to deepen cooperation across a wide range of areas, such as trade and investment, science and technology, higher education, and peopleto-people relationship. During discussions on India's G20 presidency, Prime Minister Modi said he looked forward to welcoming Sunak to New Delhi for the G20 Summit in September. The G7 Summit concluded in Hiroshima this weekend after wide-ranging discussions between leaders from the largest economies of the world. India was invited as a guest nation to the Group of Seven, which includes the United States, United Kingdom, Canada, Japan, France, Germany and Italy, with the European Union (EU) as a non-enumerated member.
Source: Economic Times
The moment you think of textiles, especially Indian textiles, all kinds of thoughts — associations, meanings — come rushing to the mind. Inevitably. But I write here not of what comes to my mind, but of our textiles that spread out over the world once, shedding grace, enriching lives. There were all those ‘Indian Flowers that Bloomed in Europe’, for instance, in the 17th and 18th centuries: the title of an exhibition at the Chhatrapati Shivaji Maharaj Vaastu Sangrahalaya — once the Prince of Wales Museum — in Mumbai, and that of a catalogue that accompanies it. This absorbing book is by Ebeltje Hartkamp-Jonxis, a Dutch art historian who knows the Indian trade textiles intimately and worked at the Rijksmuseum in Amsterdam for close to two decades. And the textiles that she deals with are for the most part from the celebrated Tapi collection put together by collectors Shilpa and Praful Shah at Surat.Ebeltje opens the book with a well-known fact: that it was on May 20, 1498, that Vasco da Gama ‘anchored his fleet at Calicut and became the first European to reach India by sea’. But it is of significance to mention this, for it was this landing that led to ‘a fundamental shift in the pattern of Asian maritime trade’, in which Portugal played a major part to begin with and it was the Dutch with their Vereenigde Oostindische Compagnie (VOC) and the Danes with their East India Company who followed. The English East India Company had been founded by then; French and Swedish companies joined in. Indian textiles were one of the things that everyone had eyes on. By the late 17th century, as she recalls, these companies had ‘an extensive network of ‘factories’ along coastal India, in the vicinity of which these textiles were produced.Several facts follow: how these companies competed with one another, now expanding their activity, now shifting base, now going in for a different range of goods. A remarkably popular fabric was what we call chheent — chintz, chint, chits, or sits, all variants of the same word — which began being produced and bought in huge quantities. It was ‘the brilliant natural dyes that did not fade even after repeated washing, the exotic designs and the lightweight cotton fabric, which made chintz an immediate success in Europe’, ‘which by the late 17th century became a craze that would last for well over a century’. The fabric was used in those distant lands as wall covering and for clothing. ‘Entire rooms were sometimes furnished with chintz.’ A range of statistics follows: prices, quantities, among them.This is the way it goes in this engaging account, rich with visuals. Also fascinating is how designs in Indian textiles kept changing over the years, the artisans adapting to diverse needs, different approaches. Consider this description of motifs in a chintz canopy fragment which is in the British Museum and is related to a large piece in the Tapi collection. There one finds ‘a heraldic lion surrounded by winged cherubs in the central roundel; two Chinese women seated at a table in the middle at the four sides of the field; a bamboo grove with birds and blue rock with a peony tree, and birds in the spaces between the Chinese women at the table; an erotic encounter in the corners of the field; long rows of European soldiers armed with guns, in the inner border; Japanese people in their houses and outdoors in the broad border and a heraldic lion in its corners’. One can go back and trace the source of each of these remarkably diverse details or motifs: some to Europe, some to China, and some others to Japan. To add to all of this: the Tapi piece was acquired by the Shahs in Palu, in the north of the large island of Sulawesi in Indonesia! What does it tell us, one might wonder? That by the end of the 18th century, everything had already become market-driven? That the consumer dictated everything? Or is it that the Indian artisan wanted to display his range and his ability to innovate and cross boundaries? One is reminded of the situation when European paintings were coming into India during the time of the great Mughal, Akbar, and Indian artists were responding to them. Virtually nothing was copied exactly as it was and it was common for the Indian painter to bring in something of his own: some detail, some reference, a variation. John Irwin, writing a long time ago in the ‘Origins of Chintz’, said: “… the Hindu craftsman seldom copied exactly. Instead, he copied foreign masters after his own manner (a phrase recurring in English East India Company records), imposed upon the borrowed subject matter his own decorative style and idiom, and it was precisely this indigenous contribution which gave individuality and distinction to the designs and supplied what to the European was their exotic appeal.”Nothing applies universally, and one has to speculate. Like one has to, in the case of the so-called ‘Indo-Iranian’ Tree of Life motif, seen here in trade textiles in different versions. Was it simply an attractive decorative tree ‘of sinuous branches, bursting with exotic, fanciful blooms’? Or was it, as Shilpa Shah suggests, the all-bestowing kalpavriksha: a construct deeply embedded in India’s ethos?
Source: Tribune India
While Gujarat takes the lead in rooftop solar installations on homes as part of India’s strides towards clean energy, industrial units are also increasingly turning to solar and other sources of renewable energy for their captive consumption. Favourable policies, incentives, cost savings and abundant solar resources are the key forces enabling investment in this sector in Gujarat. The state is witnessing significant growth in solar energy use by industries such as textiles, chemicals and engineering. While Surat-based specialty chemicals major Anupam Rasayan Limited has a significant 20MW of captive solar power generation capacity, the trend is also seen among micro, small and medium enterprises (MSMEs). Omax Cotspin Private Limited, which runs a spinning mill in Surendranagar, has set up a wind and solar power generation hybrid project with 3. 4MW of solar capacity. “Our annual electricity consumption is about 4. 50 crore units. We started solar power generation at the end of March and hope to get 50 lakh units through it. We have invested Rs 16. 50 crore in solar power and are in the process of setting up another 8MW solar unit. This will help us reduce our electricity costs significantly,” said company director Jayesh Patel. According to data from the Gujarat Energy Development Agency (GEDA), solar rooftop installation by industry has grown manyfold in the last five years, going from 39. 27MW in 2018 to 517. 67MW in 2023. Industry players say a major shift has been seen since the Covid pandemic began. “Solar rooftop installations became a necessary aid for industries, particularly MSMEs, which were facing the heat of low margins due to reduced demand. This is because power costs fell by 70% or more for many MSMEs,” said a source in the power sector. Gujarat has witnessed the establishment of several largescale solar installations, including standalone solar power plants and rooftop solar systems, state government sources said. Industries such as manufacturing, textiles, chemicals, and pharmaceuticals have adopted solar energy to meet electricity needs and reduce dependence on traditional energy sources. Kadi-based Pashupati Group has installed rooftop and groundmounted solar modules. Saurin Parikh, chairman of the company, said, “We installed 2. 7MW of rooftop solar panels about five years ago at a cost of Rs 9 crore, which generates 35 lakh units a year. Our annual electricity requirement is about 4 crore units. We recently started ground mounted solar as well, of 7. 5MW capacity. We expect to generate around 1. 15 crore units annually. We invested Rs 32 crore in the ground-mounted solar project. ”
Savings, infrastructure driving adoption Commercial considerations are key drivers of solar adoption by industry. “As technology matures, the cost of power generation is falling. Moreover, while there has been a greater degree of volatility in the prices of coal and gas, solar adoption will stabilize power costs and cut down the cost of operation,” a power sector source said. At a time when industrial units are reeling from inflation with the prices of raw materials rising across sectors, solar adoption helps bring down power costs. The pharma sector has also seen aggressive solar installation. Shrenik Shah, MD of Himmatnagarbased Montage Laboratories Pvt Ltd, said, “We have installed 290kW of rooftop solar capacity at our factory in Himmatnagar. Of this, 250kW was set up around two years ago at a cost of Rs 90 lakh. This enables us to save Rs 3.50 lakh every month. We intend to set up another 250kW solar unit at our factory in a year.”Shah, who is president of Indian Drug Manufacturers Association (IDMA) Gujarat, said, “Many pharma players are adopting solar because the cost of electricity is increasing due to regulatory requirements for heating, ventilation and air-conditioning. Solar is helping companies save on energy costs. Most new plants have solar power generation capacity, because pharma factories typically have terraces where it is easier to install rooftop solar systems.” Gujarat has reached record-low solar capacity costs, making solar power viable for industries, according to government sources. This has also encouraged companies to adopt solar energy and make the switch to cleaner power. The readily available infrastructure is another aspect that helps industry in this regard. “Gujarat was one of the early movers in integrating solar power to its existing grid. Net metering policies allow units to sell surplus solar energy back to the grid, to offset their electricity bills and reduce costs,” an industry source said.
State takes lead in solar adoption by industry India reported its highest solar capacity installation in 2022, when it added 13GW. Gujarat has taken the lead in this capacity addition, driven by industrial, residential and commercial consumption. Solar power adoption by industry in Gujarat has been significant in recent years. The state has consequently emerged as a leader in terms of solar energy generation and utilization. Top sources in the state government said Gujarat is geographically well-suited for solar power the year. “The state gets high levels of solar radiation, which is ideal for harnessing solar energy. Moreover, policies and incentives of the government are encouraging industry to invest in solar energy. The state offers favourable tariffs, tax benefits, subsidies and easy clearances,” the source said. dedicated industrial zones that provide the requisite infrastructure for industry to set up solar power projects. The Charanka, Dholera and Raghanesda solar parks have attracted significant investments from industrial players.
Source: Times of India
In its bid to boost exports from India, Walmart will source toys, shoes, and bicycles from Indian suppliers. The senior company official added that the US-based retail giant is looking to expand its supplies from India and explore categories like food, pharmaceuticals, consumables, health and wellness, and apparel and home textiles. The decision highlights the growth story of India in the toy industry, as the country was a net importer of toys until a few years ago."Walmart's growth in sourcing from India includes expanding working with existing suppliers and helping develop new suppliers in categories such as food, pharmaceuticals, consumables, health and wellness along with apparel and home textiles. We are also exploring opportunities in toys, shoes, and bicycles," a Walmart spokesperson said.Walmart officials held a virtual meeting with several domestic toy manufacturers in India and informed them about the specific requirements and expected quality standards.In December 2020, Walmart made a pledge to increase its exports of goods from India to reach a total value of $10 billion annually by the year 2027. This commitment aims to greatly benefit micro-, small-, and medium-sized enterprises (MSMEs) in India by giving them a substantial boost. "The expansion in sourcing will include helping develop hundreds of new suppliers in categories such as food, pharmaceuticals, consumables, health & wellness, and general merchandise, along with apparel, homeware, and other key Indian export categories," it had said.
DPIIT efforts to boost exports:
The move highlights the efforts taken by the Department for Promotion of Industry and Internal Trade (DPIIT) is bearing fruits now and exports of domestically manufactured toys are witnessing a significant increase. The department also helped these domestic manufacturers to get in touch with global suppliers and meet their compliance provisions.The exports of toys from India have seen a massive increase in the past few years. During the April-December 2022 period, India exported toys worth ₹1,017 crore, which is a significant jump from ₹167 crore during the same period in 2013. Moreover, in fiscal year 2021-22, the final exports of toys stood at ₹2,601 crore. In 2021-22, the imports of toys have witnessed a 70% drop to ₹870 crore. The government also increased the import duty on imports of toys from 20% to 70%, in order to discourage the imports and boost the domestic manufacturing of toys. Currently, the government is also mulling over a PLI (production-linked incentive) for toys.
Source: The live mint.com
INTERNATIONAL
Adedicated teamof young people are on amission to collect asmany warmclothes and blankets as they can to help the less fortunate while keeping textiles out of landfill. The project is part of the 2023 Green FuturesNow program. Facilitated by the WarrnamboolCityCouncil, Green FuturesNow is a leadership programfor people aged 12-25 to build knowledge and empower participants to explore solutions to address environmental issues. Group participant EdwardHiggins said that donating clothes was a simplemeasure people could take tomake a difference in their community while keeping useful items out of landfill. “We thought that a clothes drive would be an easy thing for people to do,” he said. “People can donate old winter clothes and they can be used by people whomight be disadvantaged in winter.” Globally,Australia is the second highest consumer of textiles per person, and the initiative also hopes to encourage people to think about the number of items they buy, and to considerthe full life cycle of each product. The longer an itemcan be used, the longerit stays out of landfill, and importantly, the number of items needed to fulfil the same role is reduced. This decreases landfill volumes as well as emissions involved in themanufacturing and distribution of clothing. “When clothes go into landfill they produce greenhouse gasses as they decompose,” Edward said. SalvationArmy Warrnambool is partnering with Green FuturesNow on the project, and MinistryAssistantChris Philpot said that a clothing drive was especially timely with the colder weather setting in. “Winteris a difficult time of yearfor a lot of our people,” he said. “For people who don’t have a lot of finances to spare, things like winter energy bills are especially challenging. “Something to keep themwarmduring the day or especially at night is really helpful. “In some countries they even burn their old textiles, so it’s great to see things getting a second life. “I think it’s fantastic to see young people exploring all these issues that we face as adults and to helpmake a positive difference in the world for people who aremarginalised financially, but also forthe environment.” Any good condition winter clothing items and blankets can be dropped off at theArchie GrahamCommunityCentre, Warrnambool Library,AquaZone and the WarrnamboolUndercover Sunday Market until June 5.
Source: The warrnambool.vic.gov.au
A package of fiscal facilities in the upcoming budget is recommended as imperative to enable emerging recycled cotton-fibre industries in Bangladesh to tap huge potential in apparel export, sources said. Bangladesh Trade and Tariff Commission (BTTC) has made the recommendation to the government, they said, as buyers and brands from western consumer nations are making use of recycled-cotton fibre in clothing products mandatory while tonnes of garment wastes go to the waste in the country. It has found existing taxes as barriers to procuring the raw materials of recycled fibre by the exporting mills, having environment-friendly new technology. Supply of the recycled fibre to the local spinning mills is also hindering growth of the new industry. Currently, value-added tax (VAT) is imposed at a rate of 7.5 per cent and 15 per cent on local procurement and supply of the product to the spinning mills. In a review, the BTTC has found production cost of locally produced recycled fibre higher than that of recycled cotton as there are no VAT or duty taxes on it. And the commission proposed that the National Board of Revenue (NBR) introduce tariff for the local (VATregistered) textile recycled-fibre- producing companies and include a new HS code styled 'Recycle Cotton Fibre' to expedite export-import trade of the products. The commission conducted an industry review following a proposal of RBD Fibers Limited, which has so far invested a sum equivalent to foreign currencies worth US$25 million in this sector in Bangladesh. The company has set up machinery manufactured by world leader in fibre treatment and recycling Laroche Andritz, and investment equivalent to another US$50 million is in pipeline at its recycling plant, sources said. Currently, 23 companies have invested in textile-waste recycling or clips recycle process in the country. They have an aggregate production capacity of about 220,000 tonnes. Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan said taxbreaks could help the exporters use recycled cotton as an import substitute, and save foreign currencies and environment. Waste cotton is used for filling up land, which has severe impact on the environment as those are nonbiodegradable, he added. "We are exploring new technology in Finland, Sweden to recycle cotton fibre as Bangladesh has a huge scope to tap the potential as 75 per cent of its production is cotton garments," he said. He feels negotiation with the investors would be easier if the government offers fiscal benefits in the budget for this sector. "We want to make jhuts (waste cotton or clips) into an asset. Policy support for opening up the avenue can help the sector become a value-added one," he says about a new breakthrough in the country's main export sector. The BGMEA chief notes that conservative or negative approach of government may hurt growth of the manufacturing industry and employment generation in this sector. Zahid Hossain Khan, controller (finance and operations) of RBD Fibers Ltd, said the deemed exporters need fiscal incentives to develop the recycling industry and generate more jobs. The country would be able to meet mandatory requirements of European Union (EU) buyers to produce apparel products with recycled fibre and offer competitive prices, he added. Two separate HS codes would be needed for clips (jhut) and mutilated garments in the fiscal laws, and cash incentives would encourage small industries to invest in this sector. He informed that a number of local exporting companies are on way to making huge investment in recycled fibres in Bangladesh. To save environment from textile wastes, world-renowned brands Parley x, Adidas, Girlfriend Collective, Shop Girlfriend Collective, All Birds, Ever Lane, Buffy, Rothy's, Vivo barefoot, Ethique, Nike, Seed Phytonutrients, United by Blue, Guppy Friend, Aday, H&M, and Nestle have been increasing use of recycled fibre produced from scraps of their products, says the BTTC report in support of the latent trade. Companies having Global Re-cycled Standard (GRS) certificates have been imposing mandatory provision of making use of recycled scraps in making products. Such developments have created huge potential for the local recycled fabrics-producing factories, the BTTC report reads. "The government should ensure availability of the raw materials for the industries to help them tap the potential," says the commission report. Bangladesh's textile industries churn out nearly 570,000 tonnes of textile wastes annually. If the spinoffs could be recycled into fibre, some US$1.0 billion could be saved on account of virgin cotton import, it noted. International buyers and renowned brands have also been imposing mandatory condition on use of recycled fibres-like recycle polyester and manmade fibre--instead of 'virgin cotton'. The EU is going to make use of 30-percent recycle fibre mandatory on its imported apparel products from 2025 as a prerequisite to enjoying concessionary tax benefit. The tariff commission has proposed imposing a ban on export of jhut (cotton waste) to ensure availability of raw materials for the recycled-fibre industry. According to a global study textile industry is the second-most environment polluter and responsible for 20 per cent of wastewater production, 10 per cent of the carbon emissions in the world. Some 2,700- litre water is required to produce the cotton needed to make a T-shirt. According to Environment Protection Association (EPA), the textile industries produced 1.0 million tonnes of wastes in 2013. The world incurs loss worth US$500 billion every year owing to textile waste.
Source: The today.thefinancialexpress.com
Australia, an emerging and high potential non-traditional market, has become $12 billion export destination for Bangladesh despite the ongoing global economic headwinds. In the first ten months of the fiscal year 2022- 23, Bangladesh earned $1.05 billion from the market, posting a 34.3 per cent year-on-year growth, which was 2.3 per cent of total $54.68 billion export earnings, according to the Export Promotion Bureau (EPB) data. Industry insiders and experts said that dutyfree market access to Australia, product diversification, massive marketing in that country and China-Australia geopolitical conflict helped Bangladesh achieve the milestone. Commenting on the matter, Research and Poli Chairman Mohammad Abdur Razzaque told T news to all amid the ongoing economic crisis a “This has happened because duty-free market country’s graduation from LDC status in 2 confidence of Australian importers due to the they are also focusing on Bangladesh for more He added: “We are now manufacturing high-en using them. China-Australia geopolitical tensio diversify their import destination which has he will continue for a long time.” Bangladesh Garment Manufacturers and Exp Faruque Hassan said, “We are performing well cent cash incentives for exporters and initiative “We are using high-technology machinery and help us achieve the target. We have a lot of goods and that is why we are seeking 10 per which will help us earn more.”
Which products are in demand in Australia? Though Australia imports goods worth about limited export basket. Bangladesh exports re leather and leather goods, footwear, jute an frozen foods, crustaceans and plastics items etc The EPB data showed that during the July-A total $1.05 billion exports came from the RMG textile. Besides, $8.5 million export earnings came f non-leather footwear, $3.3 million from hats, $1.64 million from basketwork, $1.61 million fabrics, $1 million from jams and jelly, $1.03 m Md Mahtab Uddin Khan, Secretary Genera Commerce & Industry, told The Business performing well in Australia, Bangladesh has a other goods. “Bangladesh could earn by exporting agrodiversified goods, fruits, vegetables, leather an enough initiatives for road show, trade fair an “Australian customers are using high-end item quality products. If we can maintain the qual exports of non-RMG items will also grow,” he Tulika Eco Chief Executive Officer and Bang Director Esrat Jahan Chowdhury said, “Due to could not increase exports to Australia despite “As Bangladesh has limited communication w should organise several expos in Australia. Ind
High-end RMG, home textile shine The World Bank data showed that Australia i apparel products in 2020 amid the Covid-19 pa During these two years, China exported appar billion respectively. On the other hand, Bangladesh exported $713 and apparel goods to Australia in 2020 and 20 second largest apparel sourcing country for position. According to media reports, Australia importe 2021 while Bangladesh exported goods worth $ Sparrow Group Managing Director Shovon Is new markets. Among the new markets, Austral “Now we are manufacturing high-priced c technology. Besides, our production cost is low Australian buyers are showing interest in boost The EPB data showed that in the first 10 mo earned its maximum portion by exporting hi period, export of knitwear items fetched $643 m Among the knitwear and woven items, $368 m export, $269 million from T-shirt, $125 mil million from shirt. Besides, bed and table linen earned $33 million “We, especially sweater and winter clothes man August-January period. The Australian buyers same items during our lean period,” South Mahbubur Rahman Lucky said.
Source: The businesspostbd.com
South Korea and Germany agreed to boost economic and security cooperation in the face of persisting global uncertainties after their leaders met in Seoul on Sunday. Olaf Scholz, the first German chancellor to visit Seoul in 30 years, met President Yoon Suk Yeol for a summit on Sunday evening. Yoon said after the talks they had agreed to deepen cooperation “in line with the changing times” by expanding trade and investment ties to high-tech industries such as hydrogen, semiconductors, biotechnology and clean energy. “South Korea and Germany decided to strengthen the partnership in supply chains amid intensifying global economic instability and geopolitical conflicts,” Yoon told a joint news conference after the summit. The summit agenda ranged widely from climate change to security policy in the IndoPacific region, with the two leaders discussing the war in Ukraine as well as the threats posed on the Korean peninsula by nuclear-armed North Korea. Scholz travelled to the Demilitarised Zone dividing the two Koreas before the summit with Yoon. “I was able to see with my own eyes what it is like to be in a situation where peace and security are seriously threatened,” Scholz told Yoon. “What I’d like to emphasise is that the relationship between our two countries should be developed more closely from our experience of division,” he said.
Source: The Brecorder.com
Upon receiving an invitation, Bangladesh Textile Mills Association (BTMA) President Mohammad Ali Khokon met Deputy Foreign Minister of Uzbekistan Bakhrom Aloev at a hotel in the capital on 19 May, says a press release. During the meeting, the Textile Mills Association chief informed the Uzbek official that he was part of the delegation led by Salman F Rahman, investment adviser to Bangladesh prime minister, on a visit to Uzbekistan in September 2021. During the 2021 tour, a protocol of intention on investment was signed by Uzbekistan Garment Industry Association and Bangladesh Textile Mills Association, Mohammad Ali Khokon reminded Bakhrom Aloev, asking Aloev to inquire after the facilities the Uzbek government would provide if Bangladeshi entrepreneurs consider investing in the Central Asian country. Mohammad Ali Khokon also requested the visiting Uzbek deputy foreign minister to present proposals for investing in specialised Bangladeshi economic zones and information technology sparks. During the meeting, Consul of Uzbekistan Taher Shah, and Secretary General of Bangladesh Textile Mills Association Monsoor Ahmed were present.
Source: The Tbsnews.net
The Coordinator to Federal Tax Ombudsman (FTO) Meher Kashif Younis has said recently inked PakistanRussia deal on trade and investment agreements will have positive impact on Pakistan's economy. Talking to a delegation of industrialists in Islamabad, he said it will help in promoting bilateral trade, attracting foreign direct investment, and fostering economic cooperation. He said increased trade between Pakistan and Russia could lead to expanded market opportunities for Pakistani businesses, especially in sectors of textiles, agricultural products, and pharmaceuticals.
Source: The radio.gov.pk
