The Synthetic & Rayon Textiles Export Promotion Council

MARKET WATCH 12 JUNE, 2023

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100 firms take land in textile cluster 

More than 100 industries have taken up land at the upcoming textile cluster in Nimbola village in Burhanpur out of the total available 127 plots. The Special Purpose Vehicle (SPV) formed to set up the cluster has allotted land to 108 industries in the cluster. The SPV is anticipating an investment of Rs 200-250 crore in the textile cluster. Abhilash Meravi general manager, DIC, Burhanpur said, “Land has been allotted to 108 industries in the Nimbola cluster. The infrastructure development work is under progress in the area with road, drainage and other civil work under construction.” Meravi said, industries are likely to soon start the construction work for setting up own facilities in the cluster. The cluster will be developed in 4 phases where the state government will contribute 10 per cent of the total infrastructure spending or Rs 10 crore whichever is less and the rest of the expenses will be taken care of by the industries. The Nimbola textile cluster is one of the first among the four clusters proposed in Burhanpur for local power looms and textile units. Burhanpur is a hub for looms with nearly 40,000 power loom units operating from homes, small rooms and in unorganised workshops in the city. Three textile clusters were proposed for Burhanpur of which other two are coming at Mohammadpura and Sukhpuri. The infrastructure development work at Sukhpuri has not yet started while development work at Mohammadpura is almost 60 per cent done, according to the MSME department. The Micro, Small and Medium Enterprises (MSME) department has identified 23 hectare and 63 hectare land for developing clusters at Mohammadpura and Sukhpuri respectively in Burhanpur.

Source: Times of India

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India eyes high-value products to boost technical textiles sector

The ministry of textiles approved 20 R&D projects worth Rs61.09 crore across key strategic areas of geotech, protech, indutech, sustainable textiles, sportech, and buildtech segments and specialty fibres (carbon fibre and ultra-high molecular weight poly-ethylene) during the 6th MSG meeting, India’s ministry of textiles said in a press release. Among these 20 R&D projects, three projects from geotech, six of protech, one indutech, one sportech, two sustainable textiles, two buildtech, two carbon fibres, two specialty/functional fibre and one ultra-high molecular weight poly-ethylene (UHMWPE) were approved. While addressing the meeting, Goyal, the Union minister of textiles, commerce and industry and consumer affairs, food and public distribution, said that it is necessary to identify the areas where high strength lightweight technical textiles could be used as an alternative material in automobile, aviation, infrastructure, and medical sectors for enhancing efficiency, advancement, and sustainability. The minister noted that massive outreach exercise is the need of the hour to attract more R&D proposals in the priority areas under the National Technical Textile Mission wherein the ministry of textiles, ministry of science and technology, and ministry of commerce and industry may collaborate. Goyal also said that private engineering colleges of good repute should be encouraged to work together with Textile Research Associations or reputed government institutes for wider awareness, benefits, and optimal utilisation of the NTTM Scheme and foster the research and innovation ecosystem across India. The minister reviewed the progress of Component-II of NTTM - Promotion and Market Development, including events conducted so far such as the 10th Edition of Technotex 2023 in Mumbai with the Federation of Indian Chambers of Commerce and Industry held between Feb 22–24, 2023, GEOTEX: National Conference on GeoTextiles – PM Gati Shakti Scheme in Delhi with the Confederation of Indian Industry on March 24, 2023, Technical Textiles: Exploring Growth Opportunities in Hometech and Clothtech under Chintan Shivir – ‘Saurashtra Tamil Sangamam’ at Rajkot on April 21, 2023 and the National Conclave on Sportech: The Future of Sport Textiles and Accessories Industry in India in Delhi with the Indian Technical Textile Association on June 2, 2023. Goyal also reviewed the inter-ministerial exercise conducted under NTTM for the mandation/adoption of different technical textiles items and meetings held with the ministry of railways and ministry of defence for enhancing usage of technical textiles. Quality control orders for 31 technical textiles—19 geotextiles and 12 protective textiles issued on April 10, 2023. Senior officials from the National Institution for Transforming India Aayog, ministry of road transport and highways, ministry of heavy industries, ministry of railways, ministry of Jal Shakti, department of expenditure, department of higher education, department for promotion of industry and internal trade and members from other ministries, and eminent members from the industry attended the meeting.

Source: The in.fashionnetwork.com

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UAE emerges as fourth largest investor in India in FY23 

The United Arab Emirates (UAE), with which India implemented a comprehensive free trade agreement in May last year, has emerged as the fourth largest investor in India during 2022-23, according to government data. In the last fiscal, foreign direct investment (FDI) from the UAE to India jumped over three-fold to USD 3.35 billion from USD 1.03 billion in 2021- 22, the data of the Department for Promotion of Industry and Internal Trade (DPIIT) showed. The UAE was the fourth largest investor in India in 2022-23 compared to the seventh in 2021-22. Singapore was the largest investor in India with USD 17.2 billion investment in FY23, followed by Mauritius (USD 6.1 billion) and the US (USD 6 billion). "The rapidly strengthening of bilateral ties and investment cooperation between India and United Arab Emirates (UAE) can be chiefly attributed to the strong bilateral relations between India and UAE, growth in investment commitments from UAE, and the policy reforms to further ease of doing businesses between the two countries," Rudra Kumar Pandey, Partner, Shardul Amarchand Mangaldas & Co, said. between India and United Arab Emirates (UAE) can be chiefly attributed to the strong bilateral relations between India and UAE, growth in investment commitments from UAE, and the policy reforms to further ease of doing businesses between the two countries," Rudra Kumar Pandey, Partner, Shardul Amarchand Mangaldas & Co, said. UAE's investments in India are mainly in sectors like services, sea transport, power and construction activities. One of the crucial factors for the increase in foreign direct investment (FDI) from UAE is the signing of the Comprehensive Economic Partnership Agreement (CEPA) between India and UAE on February 18, 2022 (effective from May 1, 2022), Pandey added. "Apart from CEPA, another growth engine of FDI from UAE in India is the investment commitment from UAE. UAE has committed to invest USD 75 billion in the Indian infrastructure sector over a period of time. It has also committed to partner with India in the renewable energy sector," Pandey noted. India and the UAE have operationalised a comprehensive free trade agreement since May 1 last year. Under the pact, a number of goods from both countries are getting zero-duty access to each other's markets, besides eased norms for promoting investments. The country accounts for about 2.5 per cent of the total FDI India received between April 2000 and March 2023. During this period, India has attracted USD 15.6 billion worth of overseas inflows from the UAE, the data showed. According to experts, the trade agreement has helped significantly increase the import and export between the countries and consequently increased the investments from UAE in Indian companies. "India's constant liberalisation of the FDI policy also boosted such investments. Similarly, we are also seeing that several Indian startups are exploring expansion in the UAE," Anindya Ghosh, Partner, IndusLaw, said. She said that among other agencies, Abu Dhabi Investment Office through their Innovation Program is providing active support to innovation-driven startups through financial and non-financial incentives like information on data, network, licensing, logistics, real estate, visa etc. "Such expansion ideas/ activities of Indian startups also provide an incentive to UAE-based investment funds to invest more in innovation-based startups in India," Ghosh added.

Source: Economic Times

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CITI’s Textile & Apparel CEOs Delegation Explores New Opportunities at ITMA 

Coinciding with ITMA’23, Confederation of Indian Textile Industry (CITI), one of the leading business chambers representing T&C value chain, organised the Indian Textile & Apparel CEOs Delegation with the participation of decision-makers of leading textiles and apparel companies of India. The CITI delegation at ITMA 2023 represented a dynamic collaboration between Indian textile and apparel CEOs, fostering innovation and driving sustainable growth in the industry. With a focus on digitalization and sustainability, the delegation aimed to seize new opportunities and strengthen international partnerships. The delegation witnessed the support and presence of esteemed dignitaries including Smt. Darshana Vikram Jardosh, Hon’ble Minister of State for Textiles & Railways, Govt. of India, Dr. Neena Malhotra, Ambassador of India to the Republic of Italy, Mr. Rohit Kansal, IAS Additional Secretary, Ministry of Textiles, Government of India. Smt. Darshana Vikram Jardosh, Hon’ble Minister of State for Textiles & Railways, was warmly welcomed by the ITMA organizers on 8th June. Hon’ble Minister inaugurated the ‘Colorjet Pavilion’ and embarked on an engaging exhibition tour, meeting with various exhibiting companies at their respective booths. Exhibition tour by the delegation included visit to Lakshmi Machinery Works, Rieter, Trützschler, Picanol, TEXCOMS, Andritz, Dilo, etc. and witnessed the state-of-the-art technology showcased at their booths. The Minister also had one-on-one investors meeting with leading manufacturers like Oerlikon, ITEMA Group, LOEFPE, SETEX, Sedo, Loptex, Turkish Machinery, Datatex Consulting, Neuenhauser Maschinenbau, etc. to explore potential investment opportunities and collaborations. On 9th June, a seminar on “Digital & Sustainable Transformation of The Textile Industry” was organised by Confederation of Indian Textile Industry.

Source: Indian Textile Magazine

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'Existing industry has potential to eradicate 50% of unemployment within a year' 

J&K as well as improve upon its economic parameters, including contribution to GDP, in just one year, provided that its appalling status was altered through a concrete policy intervention by the government. This was stated by leaders of the industrial fraternity at an interactive session on “Status and Potential of existing industry” organised by the Association of Integrated Textile and Handicrafts Park Zakura (AITHP). A statement said that the event, among others, was participated by the Commissioner cum Secretary I&C Vikramjeet Singh, Director Handicrafts and I&C Kashmir Mehmood Shah, General Manager DIC Srinagar Hamida Akhter, General Manager SICOP Waseem Ahmad, AD MSME Suhail Allaqaband, Officers of J&K Trade Promotion Organisation, I&C, SICOP besides President FCIK Shahid Kamili, Industry Chieftains Shakeel Qalander, M. Ashraf Mir, Afaq Qadiri, Syed Fazal Illahi, Mohammad Rafique, Yasir Shams, office bearers and general members of AITHP. The day-long session deliberated upon the apathy of the existing industry and regretted that the present status of the industry was worrisome for the reason that about 80% of the units had either closed their operations or were running on meagre capacities with revenue collection below their break-even point. withdrawal of marketing support by the government including the incentives granted under an industrial policy of 2016 with the objective of equalizing the additional costs of local manufacturers incurred in lieu of tail-end position, lack of fool-proof communication, harsh weather conditions, expensive labour costs etc. He also cautioned the government on rising bad loans and said that if the current trend continued, 90% bank accounts of the industrial units were set to turn NPAs within the next year. He, however, claimed that with suitable policy intervention, adherence to the provisions of 2016 policy and extension of the Central Incentive Scheme of 2021 to existing industry could turn around the things not only to bring it back to rails but had the potential to enhance on all economic parameters and GDP. He also said that the rejuvenated industry had potential to absorb 50% of unemployed youth in the units owing to the fact that they had very little to add to their existing infrastructure to prepare for new challenges. President AITHP Syed Afaq Qadiri endorsed the views of Ashraf Mir and also made an elaborate presentation on deficiencies of infrastructure in the estate which included compound walling, drainage system, effluent treatment plant, macadamisation of roads etc. He said that 84 units out of 87 in the estate were operational and engaged in different handicraft and textile lines of activities, all of which come under green category. He demanded that as such the entire estate be declared as Green estate and kept out of bounds of certifications from Pollution Control Board. He also demanded the conversion of leasehold plots into freehold industrial plots. Commissioner Secretary Vikramjeet Singh while interacting with the unit holders assured them of resolution to all their genuine problems. He passed on-the-spot instructions to officers of I&C and SICOP for the execution of incomplete works and maintenance of the estate. He said that after having visits of various industrial estates in the valley, he will sit with the apex industrial organisation to chart out the required policy interventions in order to take these up with relevant quarters. had made it a point to initiate visits of industrial estates and other wings of the department to take stock of things from the grassroots.

Source: Greater Kashmir

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SFURTI Scheme: What is govt’s MSME cluster development scheme and how it benefits artisans 

SFURTI Scheme MSME: The government had launched the Scheme of Fund for Regeneration of Traditional Industries (SFURTI) back in 2005 which was last revamped in September 2022 to promote cluster development for MSMEs in traditional industries. The scheme intends to bring together enterprises in the khadi industry, village industry (such as cottage industry, medicinal plants Industry, bee-keeping, agro based & food processing industry, polymer and chemical based industry, fiber industry, textile industry, etc) and coir industry as collectives or clusters and give required support for growth. Here’s how the scheme benefits clusters and eventually artisans through multiple levels of support:

How does the scheme benefit clusters?

The scheme aims to benefit clusters through a focus on physical infrastructure creation, technology upgradation, training, product development, innovation, design interventions, marketability, improved packaging and marketing infrastructure of the business with the aim to improve artisanal income, according to the latest scheme guidelines. SFURTI enables assistance up to Rs 2.5 crore for the development of ‘regular’ clusters with 500 artisans or less and up to Rs 5 crore for the development of ‘major’ clusters with more than 500 artisans. The assistance includes coverage of hard, soft and thematic interventions.

What are hard, soft and thematic interventions?

Hard interventions are referred to the creation of common facility centres (CFCs) and worksheds, procurement of machineries, working capital and raw material bank, tools and technological up-gradation such as charkha upgradation, tool-kit distribution, etc., warehousing facility and training centre.   Likewise, activities considered as soft interventions for developing a cluster are general awareness, counselling, motivation and trust building; skill development and capacity building; machine handling and maintenance training; exposure visits; market promotion initiatives; design and product development; participation in seminars, workshops, etc.  Lastly, thematic interventions are provided at a sector level which includes several clusters belonging to that cluster. These interventions are brand building and promotion campaigns, new media marketing; e-commerce initiatives, research & development initiatives and technological upgradation of similar group of clusters based on performance, etc.

How cluster development is undertaken?

The cluster development is undertaken by implementing agencies (IAs) which could be NGOs, institutions of the central and state governments and semi-government institutions, field functionaries of state and central governments, panchayati raj institutions, etc., with expertise in cluster development.   One IA is assigned for only one cluster usually. However, in case IA proposes to set up more clusters, nodal agencies (NAs) are responsible for assessing the capability of the IA to set up additional clusters. The selection of lAs, based on their regional reputation and experience of working at the grass-roots level, is done by NAs. For example, Khadi & Village Industries Commission (KVIC) is the NA for khadi and village industry clusters while Coir Board (CB) is the NA for coir based clusters.  The proposal to set up a cluster under the scheme has to be submitted online to a NA through a form available on the scheme’s portal.   Any IA interested in submitting a proposal under the scheme has to submit a concept note along with the required documents on the SFURTI portal. Once the proposal meets the basic criteria, it would be submitted to the NA chosen by the IA. The NA would then examine the proposal concept and accept it for the development of a Detailed Project Report (DPR). NA will then verify the presence of artisans given in the concept note along with the representative of MSMEs through physical visits. NA will engage an appropriate technical agency (TA) to work with the IA to develop the DPR in the prescribed format which contains profiles of the cluster and all the agencies involved, project concept and strategy framework, details of various interventions, project cost and timeline, expected impact and more.  The MSME representative will then validate the feasibility of the proposed cluster as per the DPR and submit a report to NA. The NA’s Project Screening Committee (PSC) will examine the report. If the proposal meets the benchmark indicators of a good SFURTI proposal, it will be forwarded to the ministry with its recommendation.

What are the indicators of a good project under the scheme’s guidelines?

The indicators of a good SFURTI proposal, according to the scheme’s guidelines, include the project must be from traditional industry, at least 75 per cent of artisans must reside in a radius of 10 kilometres of the project location, there should be a substantial increase in income of artisans and cluster’s turnover, the engagement of every artisan in cluster development must be systematically planned, the cost-benefit ratio of the project should preferably be around Rs 50,000 per artisan, there should be a detailed marketing plan, and more.

How funds are released for cluster development?

For the release of funds under the scheme, a proposal for the same has to be submitted by NAs cluster-wise to the MSME ministry. The release of funds to NAs will be based on the approved Plan of Action (PoA), the progress of expenditure and as per the funding pattern. The funding pattern involves 50 per cent of the cost for soft interventions, 50 per cent of the cost for hard interventions, 50 per cent of the IA cost and 50 per cent of the TA cost. On utilising the 2/3rd of the released amount, the remaining 50 per cent to all stakeholders is released by NAs.  Importantly, funds to NAs will be disbursed under two heads – SFURTI Programme Fund and SFURTI Administrative Fund and NAs have to maintain two separate accounts for each of them. All expenses relating to monitoring and management of the scheme and national level activities are met out of SFURTI Administrative Fund and rest from SFURTI Programme Fund.

How many clusters are developed so far?

As of June 11, 2023, 513 clusters were approved for development since FY16 with the total funds amounting to Rs 1,336 crore extended and employing 2.98 lakh artisans, according to the data from MSME Dashboard. Out of total clusters approved, 313 were inaugurated or commissioned so far, with the highest number of clusters – 106 commissioned in FY22 followed by 96 clusters in FY21 and 62 clusters in FY23. In the current fiscal so far, 15 clusters were approved with the grant of Rs 40 crore and employing 8,875 artisans. However, no cluster has been commissioned yet in the current fiscal.

Source: Financial Express

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As fashions change, Surat’s sari industry takes a tumble 

Supermodel Gigi Hadid broke the internet when she walked the pink carpet at the Nita Cultural Centre in Mumbai in an ivory-and-gold chikankari sari. And as you read this, a four-monthlong ‘Offbeat Sari’ exhibition is on at the Design Museum in London. In India, though, the sari’s popularity as everyday wear is sliding, particularly in semi-urban and rural areas. Anjali Rana last bought a sari for herself 14 years ago. “I wore saris for 35 years, but now I am more comfortable in salwar kurtas since they fully cover the body and allow me ease of movement,” says the 64-yearold teacher from Bhuj. “I wear the sari only on Diwali or other important occasions. I am more comfortable in salwar kameez, especially during summer,” says Priti Sompura, a 53-year-old housewife from , Gujarat. Sales have dipped even in states like and where women have traditionally worn saris. And this trend has had an impact on Surat, the biggest man-made fabric hub of India that is equipped to make 1. 8 crore metres of sari fabric every day.

A Business Unravels “A decade ago, around 80% of the textiles manufactured in Surat city were used for making saris, which has now reduced to 40%,” says Ashok Jirawala, president of Federation of Gujarat Weaver Welfare Associations. Surat’s mills have the capacity to make up to 4. 5 crore metres of cloth of different types daily. A major chunk of its greige fabric (that has not been bleached or dyed) used to be turned into saris. But now, more fabric is being used for garments like kurtis, salwar suits, lehengas and nightwear. The change is reflected in revenues also. Narendra Saboo, president of Surat Mercantile Association, says sari manufacturing accounts for only a quarter of Surat’s Rs 80,000-crore textile industry. This is partly because the fall in demand has gradually reduced prices of saris. Some saris sell for as little as Rs 40 apiece in Surat.

What Women Want This seismic shift has resulted from women’s changing preferences. “Girls prefer jeans and t-shirts. Women up to 35 years of age prefer wearing kurtis and leggings, while those above 35 find the salwar kameez more appealing,” says Champalal Bothra, general secretary of Federation Of Surat Textile Traders Association. Only a small section of women now buy saris as their daily wear, he adds. Nobody knows this better than the roughly 70,000 textile traders who operate in Surat, selling dress materials, kurtis, salwar suits and lehengas, inaddition to saris. Many also have online stores. They say while urban women had made the switch to kurtis and leggings long ago, the changing clothing habits of rural women have been driving down sari sales. Chetan Bharucha, head of SASCMA Fashion Design & Apparel Training Centre, says the shift is a nod to practicality. Kurtis and leggings are more comfortable than saris, and easier to work in, he explains, adding, “The preference for readymade garments and their online availability arethe other factors pushing the sari out of everyday use. ” Bothra agrees people prefer buying readymade garments online because saris “still involve stitching after they are bought”.

‘20 Processing Houses Shut’ As the demand for saris falls, businesses that turn raw textile into saris have taken a hit. “In 2022-23, at least 20 such processing houses closed,” says Jitendra Vakharia, president of South Gujarat Textile Processors Association. Where the sale of one sari moves about 8m of cloth, 2. 5m to 3m of cloth is enough for a salwar suit. “With a 6m sari, a customer buys a 0. 75m blouse piece and 1. 5m of cloth for the inner skirt,” explains Vakharia, adding that the per person use of fabric is less than half of what it used to be some years ago.

Rajkot Hub Also Feels Tremors Jetpur near Rajkot was known for its cotton saris before it diversified into making dress materials some years ago. It has more than 1,400 units that produce 3 crore metres of cloth per month, and supply it to West Bengal, Uttar Pradesh, Bihar, Odisha and , besides other states. However, with denims becoming popular among semi-urban and rural women, sales of Jetpur’s dress materials are also down. Haresh Bhuva, a leading sari manufacturer in the Dhareshwar GIDC area of Jetpur, says, “The demand for saris and dress materials has gone down by 25-30% in the last couple of years. The units that worked three shifts now work only one or two. We had a good market for gowns and dress materials in African countries, but even there women prefer jeans now. It has affected our exports. ”

Source: Times of India

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Union Commerce and Industry Minister Shri Piyush Goyal interacts with 15 Ambassadors from African region for strengthening Trade and Investment ties with India

Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal hosted fifteen Ambassadors from various countries of the Africa region yesterday in New Delhi. During the interaction with the Ambassadors, the Minister said that India and Africa share remarkable friendship across decades and have the potential of becoming the powerhouse of the future. The event aimed at fostering closer economic cooperation, enhancing trade relations and exploring areas of collaboration between India and Africa. Shri Piyush Goyal welcomed the Ambassadors and highlighted the significant value of India-Africa relationship. The Minister emphasized the commitment of the Prime Minister, Shri Narendra Modi towards making Africa a top priority and deepening India’s engagement with Africa on a sustained and regular way. He encouraged the heads of missions to work in solidarity and extended a hand of friendship for the growth of the African and Indian sub-continent. The Minister reiterated that this is the beginning of a new engagement and reaffirmed that India would act as a trusted partner to expand trade, commerce, business, investment and opportunities between the two nations. He said India is open to FTA negotiations bilaterally or individually with African countries or Africa as a whole. The event witnessed the participation of 15 ambassadors from key African nations namely Algeria, Botswana, Egypt, Ghana, Republic of Guinea, Kenya, Malawi, Mozambique, Morocco, Rwanda, South Africa, Tanzania, Togo, Uganda and Zimbabwe. It provided a unique platform for diplomatic representatives to engage in fruitful discussions, strengthen bilateral ties, and forge new partnerships for mutual growth and development India and Africa share a long-standing history and a strong cultural bond. The African continent presents vast opportunities for Indian businesses, with its rapidly growing population, emerging middle class, and abundant natural resources. Through increased trade and investment, both India and Africa can benefit from each other's strengths and expertise, fostering inclusive growth and job creation. In addition to economic aspects, the gathering emphasized on the significance of cultural exchanges, people-to-people connections, and strategic collaborations between India and Africa. The event served as a platform to celebrate the rich diversity and heritage of both regions and strengthen the bonds of friendship.

Source: PIB

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India, UK finish 10th round of free trade agreement talks

India and the UK concluded their 10th round of negotiations on a free trade agreement (FTA) in New Delhi on Friday, with detailed discussions on the key aspects of the proposed deal. The latest round of negotiations began on June 5 and were spread over five days. “Substantial progress has been made in the negotiations and the deal is expected to be completed by the end of the year,” an official, who did not wish to be named, said.The FTA negotiations cover 26 policy areas or chapters. “Thirteen chapters have been substantially closed for negotiations and significant progress has been made in other chapters,” the official said. Apart from a comprehensive FTA, both sides are also negotiating a Bilateral Investment Treaty. The investment treaty will be completed with the FTA. India and UK started negotiating FTA in January of 2021 and now aim to get the deal ready for signing by 2023-end. India’s merchandise exports to the UK grew 9% on year in FY 23 to $11.4 billion, while imports were up 27.7% to $8.9 billion.

Source: Financial Express

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PM GatiShakti’s Network Planning Group recommends road project in Tripura

The 49th Network Planning Group (NPG) meeting of PM GatiShakti National Master Plan (NMP) on Friday recommended a road project in Tripura, the ministry of commerce & industry said in a statement.Sumita Dawra, Special Secretary, Logistics Division, Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, chaired the meeting of the NPG.“The road section of Khowai-Teliamura-Harina with a total length of 134.9 kms was considered for its improvement and widening to two lanes with paved shoulder of NH-208 in Tripura. It is a brownfield project with total cost of ₹2,486 crore," the ministry said. The project is planned with a multimodal connectivity approach, connectivity to industrial clusters and new SEZ namely Paschim Jalefa, efficient freight movement, reducing carbon footprint, optimized alignment and logistical efficiency, it added.The road will pass through the districts of Khowai, Gomati, and South Tripura, connecting important locations such as Khowai, Teliamura, Twidu, Amarpur, Karbook, and Harina. Besides enhancing interstate connectivity between Assam and Tripura, the road project is expected to stimulate economic and industrial activities in Tripura. According to the ministry, the project planning under the National Master Plan has yielded several key benefits. By utilizing the National Master Plan, the road length has been reduced by 28 kilometers, resulting in a saving of 2.5 hours of travel time. The project corridor will facilitate intermodal transport from Teliamura Railway Station and Manu Bazar Railway Station near Harina. It will also improve connectivity to Agartala Airport and the proposed Multi-Modal Logistics Park (MMLP) at Udaipur. Furthermore, the project will enhance connectivity to four economic nodes, including industrial clusters around Agartala and FCI depot, as well as thirteen social nodes such as Matabari Temple, Neer Mahal, Pilak Civilization Museum, Jampui Hills, Ambassa Eco Park, and more. It will facilitate freight movement from Kolkata to North Eastern States, primarily Tripura, Mizoram, and Manipur, to Bangladesh. Moreover, the project will facilitate the movement of raw materials for industry clusters in Tripura and the transportation of manufactured goods such as rubber, textiles, bamboo products, and food processing items from economic nodes like the SEZ located at Paschim Jalefa, Sabroom in South Tripura District, and industrial clusters/parks around Agartala and Udaipur. The proposed road will also connect North East India to Chittagong Port in Bangladesh, ensuring efficient EXIM connectivity. The road project in Tripura is expected to contribute to the development of tribal areas, enhancing connectivity to three tribal districts - Khowai, Gomati, and South Tripura. According to the ministry, the project will be implemented on an Engineering Procurement & Construction (EPC) basis, with support from the Japan International Cooperation Agency (JICA) Official Development Assistance (ODA) Loan. “The principles of PM GatiShakti NMP have been adopted during the planning of the road alignment. Alignment of the road is superimposed with data layers available on NMP Portal like railway lines, forest, power lines, water bodies etc. The intersections will be seen with forest and other sensitive zones to minimize environmental disruptions," it added.

Source: The Livemint.com

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INTERNATIONAL

VDMA – Transforming the World of Textiles: efficient – digital – circular

ITMA 2023, the world’s leading trade fair for textile machinery, taking place in Milan, is once again marked by a significant presence of VDMA member companies. The 110 exhibiting VDMA members cover nearly all different machinery chapters with a focus on spinning, nonwovens, weaving, knitting, warp knitting, braiding and finishing. They are part of a strong German presence with a total of around 200 German exhibitors – including non-machine manufacturers – on approx. 17,700 square metres, covering 15% of total space. How are leading VDMA members contributing to the transformation of the global textile industry? On the occasion of the VDMA press conference at ITMA, themed “Transforming the World of Textiles: efficient – digital – circular”, five renowned VDMA member companies presented their innovative solutions on sustainability, circular economy, digitalisation, efficiency enhancement and resource saving. André Wissenberg, chairman of the exhibition and marketing committee of VDMA Textile Machinery and vice president, marketing, corporate communications and public affairs at Oerlikon Polymer Processing Solutions Division, presented a world premiere at ITMA in form of the EvoSteam process. This process enables, for example, annual water savings of up to 10 million litres. With regard to digitalisation, he highlighted Oerlikon’s digital Ecosytems, a solution to provide real time alerts, condition monitoring, machine learning, predictive maintenance and to steer all plant shopfloor operations. Wissenberg stated: “At Oerlikon, we contribute with our innovative technologies shown at the ITMA Milan 2023 for resource-saving use in almost all manmade fiber spinning mills in the world. Our promise for the future is to continue to expand the zero-waste production approach, being more efficient, digital and circular, and thus take care of achieving our customers’ and our own sustainability goals.” Dr. Uwe Rondé, member of the board of VDMA Textile Machinery and CEO of Saurer Group, emphasised the efforts of Saurer to dress the world sustainably by offering spinning and twisting solutions for yarns made of mechanically recycled or chemically regenerated fibres. At the press conference Dr. Rondé said: “Saurer has driven the transformation of the textile industry for more than 170 years. We support the textile industry in the areas of sustainability, digitalisation, and automation. As a trendsetter we anticipated early the need for processing short fibres. Today we already have a portfolio optimised to spin and twist recycled or regenerated yarns.” Wolfgang Schöffl, Lindauer Dornier, head of the product line weaving machines and member of the extended management, stated: “The challenges of the textile industry are driving the machinery building industry to new dimensions to fulfil very much related targets such as a constant increase in productivity, quality, innovation in a very dynamic and fast changing environment with regard to digitalisation and at the same time to secure the highest good, the life of human being and to preserve our natural habitat. These are the targets to whom Dornier is very much committed for now over 70 years, serving successfully our customers all around the world.” Dr. Janpeter Horn, chairman of the VDMA Textile Machinery Association and managing director of August Herzog Maschinenfabrik, showed that textile machines are enablers of CO -neutral energy production. “Herzog, as the worldwide market and technology leader for braiding, winding and rewinding equipment, is at the forefront of transforming the textile world efficiently, digitally as well as circularly for braided applications. More than just developing braiding and winding technology taking this transformation into account, Herzog also enables the development of braided products which are needed for a circular, CO -free economy such as extra-long and strong ropes replacing steel-wire strength-members for wind energy and deep sea exploration”, he said. How circularity is addressed in the dyeing process, explained Verena Thies, vice-chairperson of VDMA Textile Machinery and managing shareholder of company Thies. She highlighted the Signature Series of Thies that enables an advanced after treatment process: “Thies is opening a new chapter in fabric coloration: Signature’s innovative ultra-low liquor ratio significantly enhances dye effectiveness, resulting in up to 20% decrease in dyestuff consumption. By combining Thies’ cutting-edge advancements, water usage is minimized by 52%.” Digital Networking Demonstrator The digital networking of machines paves the way for a variety of possible applications, such as a central overview of the status of all machines, order management and the exchange of process information. At the press conference, Dr. Harald Weber, managing director of VDMA Textile Machinery, presented a web-based demonstrator for digital networking of machines using the OPC UA standard. Standardised interfaces facilitate the integration of different devices. In a first project, the VDMA Textile Machinery has developed the interface specification called OPC UA for Textile Testing Devices. At ITMA, devices from exhibiting companies, among them the VDMA member Textechno, will use this specification to send live data to a demonstrator. This can be accessed at https://umati.app/overview/itma/. Investment in the future ITMA is traditionally an event for junior engineers. With financial support of VDMA and under the guidance of their lecturers, 320 students from nine technical universities take the chance to see high tech live in Milan. “Our financial support in the amount of €95,000 is an investment in the future of our industry. Highly qualified engineers are the precondition to develop marketable technologies for the textile industry”, said Dr. Weber.

Source: Indian Textile Magazine

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The recycling idea at Levi’s, Adidas, Zara to stop trillions in fast fashion from going to waste 

The fashion industry has a very well-known waste problem. Almost all (roughly 97%) of clothing eventually ends up in a landfill, according to McKinsey, and it doesn’t take very long for the lifecycle of the latest apparel to reach its end: 60% of clothing manufactured hits a landfill within 12 months of its manufacturing date. In the last two decades, that concerning trend in clothing production has accelerated enormously with the rise of fast fashion, multinational production, and the introduction of cheaper plastic fibers. The multi-trillion dollar fashion industry contributes significant greenhouse gas emissions, between 8% to 10% of total global emissions, according to the United Nations. That is more than all international flights and maritime shipping combined. And as other industries make progress on carbon reduction solutions, fashion’s carbon footprint is forecast to grow — it is predicted to account for over 25% of the world’s global carbon budget by 2050. The apparel industry wants to be taken seriously when it comes to recycling, but even the simplest solutions haven’t worked. According to sustainability experts, as much as 80% of Goodwill clothing ends up going to Africa because the U.S. secondhand market can’t absorb the inventory. Even local drop-off bins send clothing to Africa due to the complexity of the domestic supply chain and overflow. So far, refashioning old clothing into new clothing has barely made a dent in the industry. Currently, less than 1% of textiles produced for clothing are recycled into new clothing, which comes at a cost of a $100 billion a year in revenue opportunity, according to McKinsey Sustainability. One big problem is the blending of textiles now common to the manufacturing process. With the majority of textiles in the fashion industry blended, it is harder to recycle one fiber without harming another. A typical sweater can contain multiple different types of fibers including a blend of cotton, cashmere, acrylic, nylon and spandex. None of the fibers can be recycled in the same pipeline, as has been economically done in the metals industry. “You would have to decouple five intimately blended fibers and send them to five different recycling scenarios in order to recover most sweaters,” said Paul Dillinger, head of global product innovation at Levi Strauss & Co. he complexity of the fashion recycling problem is behind new business models that have emerged at companies including Evrnu, Renewcell, Spinnova, and SuperCircle, and some big new commercial operations. Spinnova partnered with the world’s largest pulp and paper company this year, Suzano, to turn wood and waste into recycled textile fiber. “Increasing the textile-to-textile recycling rate is at the heart of the issue,” said a Spinnova spokeswoman. “There is very little economic incentive to collect, sort, shred, and bale textile waste, which are the first steps in the recycling loop,” she said. Textile waste, by some measures, is a bigger issue than plastics waste, and it has a similar problem. “It is a really low-cost product where the output doesn’t have significantly high value and the cost to identify, sort, aggregate, and collect items is much higher than what you can get from the actual recycled output,” according to Chloe Songer, CEO of SuperCircle, which offers consumers and brands the ability to have a variety of finished products mailed to its warehouses for sorting and recycling — and credit towards the purchase of items from the Thousand Fell recycled sneaker brand run by its CEO. “Impact unfortunately costs money, and it’s figuring out how to make that make business sense that’s important,” Songer said.

The circular economy of Zara, Adidas, Levi’s Levi Strauss is making progress in its attempt to fashion a circular economy with its iconic 501 blue jeans now made from 40% fiber from Renewcell, and 60% organic cotton. And it’s not just what you see on the outside of the jeans, Dillinger said. The red tab, back patch, stitching, and interior labeling have all been rendered in cotton, which people don’t think about when recycling a pair of jeans. In the case of the 501, since the final garment is mixed only with organic cotton, the recycled jeans and cotton become pure inputs, Dillinger said, back into the recycling systems that have the potential to close the loop. But that is the exception to the rule today. He pointed to the promotional t-shirts that runners get for their 5K that are typically made of 50% cotton and 50% polyester, or a fleece sweater made for children that includes both cotton and polyester to comply with fire safety concerns, both which are pervasive products and add to the challenge of recycling mixed materials. “You’ve got all of these structural, behavioral, and material challenges, and somehow we’re not getting the message out that it is urgent,” Dillinger said. Adidas says it is on track to using only recycled polyester by the end of 2023 — currently at 96% — which is a year ahead of its original goal. The share of recycled polyester worldwide, meanwhile, is currently at 15%, according to an Adidas spokeswoman, who said changes up Dillinger said regulators and consumers are just as important as supply chain partners. “Somehow, the civic engagement and collective understanding that it’s not just doable, but necessary, hasn’t permeated our collective social behavior,” Dillinger said. “Are people going to meet us midway with their behavior and then are regulations and infrastructure going to meet us to take that behavior across the line? I don’t know. That’s the big unknown.” Regulatory trends are a factor that Stacy Flynn, CEO of Evrnu — which ranked No. 37 on the 2023 CNBC Disruptor 50 list — is watching closely. Flynn developed a textile recycling platform, NuCycl, that can transform discarded clothing into new fiber, and it says equal or outperform 90% of fibers, including cotton, nylon, and polyester, on cost and quality using existing textile supply chain equipment. Evrnu’s first big break was a partnership with Levi’s to create the company’s classic 511 jeans in 2016, and it has also launched pilots with Stella McCartney and Adidas. Late last year it worked on a limited collection with fast fashion clothing giant — and consumer consumption flashpoint — Zara, using its recycled textile waste material. Zara has a stated goal of using only 100% organic cotton, recycled, or sustainable material fabrics in all of its clothing and 100% recycled polyester and organic linen by 2025. But it isn’t yet clear how feasible that timeline is for any of the major brands. “While there are numerous technological solutions to making clothing more sustainable, the technology does not yet match the scale and demand of the global fashion industry,” a Zara spokesperson said. “In order to solve the system problem consumption needs to decrease, longevity of apparel needs to increase (reuse, repair), and product design needs to embrace sustainability (recyclable/designed for dis-assembly)” Flynn wrote in an email. “All of these run counter to the current fast fashion business model unless we can scale solutions.”

Waste legislation may help improve textile economics Dillinger said regulators and consumers are just as important as supply chain partners. “Somehow, the civic engagement and collective understanding that it’s not just doable, but necessary, hasn’t permeated our collective social behavior,” Dillinger said. “Are people going to meet us midway with their behavior and then are regulations and infrastructure going to meet us to take that behavior across the line? I don’t know. That’s the big unknown.” Regulatory trends are a factor that Stacy Flynn, CEO of Evrnu — which ranked No. 37 on the 2023 CNBC Disruptor 50 list — is watching closely. Flynn developed a textile recycling platform, NuCycl, that can transform discarded clothing into new fiber, and it says equal or outperform 90% of fibers, including cotton, nylon, and polyester, on cost and quality using existing textile supply chain equipment. Evrnu’s first big break was a partnership with Levi’s to create the company’s classic 511 jeans in 2016, and it has also launched pilots with Stella McCartney and Adidas. Late last year it worked on a limited collection with fast fashion clothing giant — and consumer consumption flashpoint — Zara, using its recycled textile waste material. Zara has a stated goal of using only 100% organic cotton, recycled, or sustainable material fabrics in all of its clothing and 100% recycled polyester and organic linen by 2025. But it isn’t yet clear how feasible that timeline is for any of the major brands. “While there are numerous technological solutions to making clothing more sustainable, the technology does not yet match the scale and demand of the global fashion industry,” a Zara spokesperson said. “In order to solve the system problem consumption needs to decrease, longevity of apparel needs to increase (reuse, repair), and product design needs to embrace sustainability (recyclable/designed for dis-assembly)” Flynn wrote in an email. “All of these run counter to the current fast fashion business model unless we can scale solutions.” Flynn said new legislation coming on board will make producers responsible for waste disposal, and will help ease current pricing disparities between virgin and recycled fibers/fabrics over time. Heightened regulation in the EU has contributed to the acceleration of textile recycling business models. The EU’s Waste Directive Framework requires countries to separate all textile waste by 2025, and the EU’s Circular Economy Action Plan ensures that circular economy principles are applied to all textile manufacturing, products, consumption, In the United States, policy advocates have taken smaller strides towards recycled fashion, with some state bills introduced. In California, the SB 707 bill was introduced in February to create a statewide recycling program for textiles. In New York State, The Fashion Sustainability and Social Accountability Act, also known as the Fashion Act, would hold companies accountable for their recycling practices. It is currently backed by fashion brands like Eileen Fisher, Stella McCartney, Everlane, and Patagonia, as well as other advocacy organizations pushing to pass the bill. Tricia Carey, chief commercial officer at Renewcell — a Swedish textile recycling company, which opened the world’s first commercial-scale textile-to-textile chemical recycling pulp mill — says she can see the differences between consumer behavior in the U.S. and Europe traveling between both frequently. “Consumers also need to look at how they’re disposing of garments and making sure that’s being done responsibly. It’s kind of going back to the times when garments are treasured and not just tossed,” Carey said. Renewcell’s ambition is to recycle more than 1.4 billion t-shirts every year by 2030. Renewcell’s technology has its own limitations, however, only able to recycle clothes that are made of cotton and up to 5% non-cotton material like polyester. Textile recycling companies like Renewcell, Evrnu, Spinnova, and SuperCircle view cobranding with major consumer companies as a key element to ensuring consumers understand the value of what they’re buying and bolstering brand loyalty. “It’s about making wise purchase decisions because your buying power is how you’re making decisions. Look for brands that have strategies around sustainability ... I think being loyal to those brands is very important,” Carey said. But these new business models should not be expecting the biggest payoff to be measured in recycling business dollars, Songer said. “You can’t look at recycling and think you’re going to make a million bucks recycling cotton t-shirts, because you’re not,” she said. “You have to find another way to make it make economic sense, and these business models are going to be really interesting in the next few years.”

Source: The Cnbc.com

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Hong Kong can become sustainable fashion, next-generation materials hub, former Walmart and Donna Karan executive says 

Hong Kong should leverage its seven decades of experience in textiles and apparel production, and supply-chain management to become an innovation hub for the next generation of sustainable raw materials, according to an industry veteran. Companies should seize opportunities arising from demand for clothing made from recycled textiles and plastic materials besides food and agricultural waste, on the back of consumers’ desire for a more sustainable lifestyle, said Edwin Keh, CEO of The Hong Kong Research Institute of Textiles and Apparel (HKRITA). “Hong Kong companies need to provide technical innovation and solve problems for our customers, ” he told the Post. “Clearly, the biggest global challenge is that of sustainability. “What’s good about Hong Kong, is its long industry history and ample experience, with visibility up and down the supply chain. People here … can quickly capture a market opportunity.” The global cellulose fibres market might be worth US$49 billion by 2028, growing at an average annual rate of 8.3 per cent from US$30 billion last year, according to market-research firm International Market Analysis Research and Consulting Group. The market comprises natural fibres such as cotton and artificial fibres such as viscose, which are made from wood pulp or other plant-based materials. The resource-intensive fashion industry is estimated to be responsible for 10 per cent of global carbon emissions, according to the UN. An estimated 2,700 litres of water is needed to produce a single T-shirt made with cotton that takes up to six months to harvest, enough to sustain a person for 900 days, according to WWF calculations. A decade ago, there were only a handful of fashion brands focusing on garments made from sustainable materials, as most were unwilling to take the risk and pay the price for sustainable raw materials. “Around 2018, I felt clearly there was a transition as people began to see [sustainability] as a business imperative,” Keh said. “Everybody was asking [about] how to meet sustainability disclosure requirements and consumer expectations.”The change was accelerated by the coronavirus pandemic, which dealt a blow to global economic growth. “The middle ground started disappearing because companies either were going to be profitable or would no longer be in business, as it became a zero-sum game,” Keh said, adding that companies had to compete not only on price, quality and delivery speed but also environmental and social compliances. Keh is a former chief operating officer responsible for global procurement at retail giant Walmart and former managing director of sourcing in Asia for fashion house Donna Karan International.Last month, government-funded HKRITA’s research on sustainable bacterial cellulose fibres production won an award at the International Exhibition of Inventions of Geneva. It involves a novel solvent and a wet spinning method to produce a sustainable regenerated fibre from bacterial cellulose, an unwanted by-product from the production of a fermented sweetened black tea made by Hong Kong drink maker Kuppa Kombucha.It is more sustainable than cotton and wood-based textile fibres because of improved energy efficiency, lower water consumption and absence of toxic chemicals in the production process. Currently, regenerated cellulose such as viscose is made from the break down and conversion of natural cellulose such as wood pulp, using large quantities of acid and toxic chemicals. HKRITA’s research, which started in March last year, is supported by HK$2.8 million (US$357,272) in seed funding from the Hong Kong government’s Innovation and Technology Commission. After achieving success producing bacterial cellulose independently at its laboratory, HKRITA plans to scale up the fermentation process from 10 litres to 500 litres of pilot production line, said chemical engineer and senior research manager Alex Chan.China has ample waste materials for making sustainable textile products, said Nicole Rycroft, sustainable fashion leader at environmental non-profit organisation Canopy. Just a fifth of the country’s more than 20 million tonnes of textile wastes generated annually is recycled. Canopy works with 536 brands making more than US$900 billion in annual revenues to bring sustainability improvements to their supply chains that otherwise log about 300 million trees every year for cellulosic fabric, she said. “We work with around 35 disruptive, next-generation technology innovators,” Rycroft said. “We have really seen a surge in innovation in this space in recent years.”

Source: The scmp.com

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China has been spying from Cuba for some time, US official says 

China has been spying from Cuba for some time and upgraded its intelligence collection facilities there in 2019, a Biden administration official said on Saturday, following a report about a new spying effort underway on the island. The Wall Street Journal on Thursday reported that China had reached a secret deal with Cuba to establish an electronic eavesdropping facility on the island roughly 100 miles (160 km) from Florida, but the U.S. and Cuban governments cast strong doubt on the repor. The Biden administration official, speaking on condition of anonymity, said the media's characterization "does not comport with our understanding," but did not specify how the report was wrong nor address in detail whether there were efforts by China to build a new eavesdropping facility in Cuba. The official said the issue predated Joe Biden's presidency, as had Beijing's efforts to strengthen its intelligence collection infrastructure worldwide. "This is an ongoing issue, and not a new development," the official said. "The PRC (People's Republic of China) conducted an upgrade of its intelligence collection facilities in Cuba in 2019. This is well-documented in the intelligence record." Asked for comment, an official at China's embassy in Washington pointed to Friday's statement by a Chinese foreign ministry spokesperson who accused the U.S. of "spreading rumors and slander" with talk of a Cuba spy station, and of being "the most powerful hacker empire in the world." The Cuban government did not immediately respond to a request for comment. On Thursday, Cuban Vice Foreign Minister Carlos Fernandez de Cossio dismissed the Journal's report as "totally mendacious" and called it a US fabrication meant to justify Washington's decades-old economic embargo against the island. He said Cuba rejects all foreign military presence in Latin America and the Caribbean. Attention surrounding alleged Chinese spying from Cuba comes as Washington and Beijing are taking tentative steps to soothe tensions that spiked after a suspected Chinese high-altitude spy balloon crossed the United States before the US military shot it down off the East Coast in February. That includes a trip to China that US officials say Secretary of State Antony Blinken is planning for 18 June. Washington's top diplomat had earlier scrapped the visit over the spy balloon incident. The Biden administration official said that despite the former administration of Donald Trump being aware of the Chinese basing effort in Cuba and making some attempts to address the challenge, "we were not making enough progress and needed a more direct approach." The official said US diplomats had engaged governments that were considering hosting Chinese bases and had exchanged information with them. "Our experts assess that our diplomatic efforts have slowed the PRC down," the official said. "We think the PRC isn't quite where they had hoped to be."

Source: The tbsnews.net

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Dhaka to host Commonwealth Trade Forum in Sept

The Commonwealth Trade & Investment Forum, which will be held for the first time in Dhaka on 13-14 September, will pave the way for Bangladesh businesses to display their capacity to absorb technology, said Salman F Rahman, Private Industry and Investment Adviser to the Prime Minister. Addressing the curtain-raiser press event, Mr Rahman highlighted the country's advancement in digitalisation and said that the trade forum will be an ideal place for the local entrepreneurs to initiate collaboration with businesses from 53 member countries of the Commonwealth. The forum will be organised by Commonwealth Enterprise and Investment Council (CWEIC) in partnership with the Bangladesh Investment Development Authority (BIDA), the Ministry of Foreign Affairs, and ZI Foundation. Lord Swire KCMG, Member of the House of Lords of the United Kingdom and Deputy Chairman of the CWEIC; Md. Shahriar Alam, State Minister for Foreign Affairs; Lokman Hossain Miah, Executive Chairman (Senior Secretary), Bangladesh Investment Development Authority (BIDA); Zillur Hussain, Strategic Advisor, Bangladesh, CWEIC; among others, were present at the press conference held at a city hotel on Sunday. Previously, the forum was organised in the United Kingdom, Singapore, Kenya, Rwanda and Malta. The Commonwealth is a voluntary association of 56 countries united by common values and is a home to one-third of the world's population. Bangladesh joined the Commonwealth as its 34th member in 1972. "Over time, Bangladesh attained tremendous development on its economic fronts. Under the able leadership of Prime Minister Sheikh Hasina Bangladesh is graduating into a middle-income country in 2026," said Salman F Rahman. Some of the largest trade partners of Bangladesh are Commonwealth members, he added. Lord Swire KCMG, Member of the House of Lords of the United Kingdom and Deputy Chairman of the Commonwealth Enterprise and Investment Council (CWEIC), said, ''The Commonwealth is an amazing opportunity for Bangladeshi companies to explore - 56 countries of untapped potential and limitless possibilities.'' State Minister for Foreign Affairs Md Shahriar Alam said, ''Commonwealth must address the vulnerabilities of LDCs, LLDCs, SIDS, and countries with special needs, focusing on areas such as the continuation of their trade-related GSPs beyond LDC graduation, private capital flows and flexible financing for green technology transfer.'' BIDA Executive Chairman (Senior Secretary) Lokman Hossain Miah said BIDA, being the country's apex investment promotion agency, will take full advantage of the opportunities that this forum will create. "We will also seamlessly deliver investment services to businesses that are interested in exploring opportunities in Bangladesh," he added. Zillur Hussain, Strategic Advisor, Bangladesh, Commonwealth Enterprise and Investment Council, said heads of the states, political and business leaders of the Commonwealth members will be attending the trade forum this year in Dhaka. "So, the forum will offer a platform for promoting trade, investment, and economic growth. It aims to foster partnerships, promote innovation, and explore avenues for sustainable and inclusive economic development for Bangladesh,'' he added.

Source: The Financial Express

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