INTERNATIONAL
NATIONAL
The textile industry in India has long been an essential contributor to the country’s economy, employing millions and functioning as an important export sector. With a strong textile production history and a large pool of qualified workforce, India has the potential to become a global industry leader. However, numerous obstacles must be addressed to achieve the ambitious goal of growing the textile business to $200 billion, which was set by Piyush Goyal, Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution, Textiles, Government of India. With a rich history of textile production and a wealth of skilled artisans, India possesses the necessary foundations to propel its textile industry to unprecedented heights. India’s textile industry has a centuries-old legacy rooted in exquisite craftsmanship and traditional techniques. This heritage provides a unique advantage, enabling India to offer a diverse range of textile products with unparalleled quality and artistry. By leveraging this heritage and preserving traditional techniques while incorporating modern design sensibilities, India can capture the attention of global markets seeking authentic and culturally rich textiles. One of India’s greatest strengths lies in its abundance of skilled artisans with generations of knowledge and expertise. These artisans can create intricate weaves, delicate embroideries, and handcrafted textiles that are unparalleled in beauty and craftsmanship. By providing adequate training, upskilling initiatives, and access to modern tools and technology, India can empower these artisans to create contemporary designs that resonate with international buyers, thereby driving growth and demand.The Indian government acknowledges the significance of the textile sector and has enforced many programmes to help it flourish. Endeavours such as the Make in India campaign, the National Textile Policy, and the Technology Upgradation Fund Scheme (TUFS) have facilitated investments, provided financial help, and created an enabling environment for textile makers. In addition, further reforms aimed at reducing bureaucratic hurdles, streamlining regulations, and improving ease of business will attract domestic and foreign investors, fostering industry growth. To achieve the $200 billion target, India must expand its presence in the global market. By forging strategic partnerships, participating in international trade fairs and exhibitions, and effectively leveraging e-commerce platforms, Indian textile manufacturers can showcase their products to a broader audience. In addition, collaborations with international fashion brands and designers can help penetrate high-end markets, allowing Indian textiles to gain recognition and value globally. Sustainability is a growing concern in the global textile industry. By promoting organic resources and adopting eco-friendly practices, India may position itself as a pioneer in sustainable textile manufacture. Emphasizing responsible sourcing, reducing water consumption, and implementing cleaner production techniques will meet global sustainability standards and attract conscious consumers who value ethically produced textiles. Technology integration is critical for India’s textile industry to leapfrog into the future. Automation, digitalization, and the Internet of Things (IoT) can significantly enhance efficiency, productivity, and quality control. Investments in state-of-the-art machinery, digitized supply chain management, and advanced textile processing techniques will enable India to compete on a global basis and fulfil the changing expectations of the sector. India’s textile industry possesses immense potential to achieve the target of $200 billion, fueling economic growth, generating employment opportunities, and showcasing the nation’s cultural heritage to the world. By harnessing its rich textile heritage, empowering skilled artisans, implementing supportive policies, strengthening market access, adopting sustainable practices, and embracing technology, India can overcome the challenges and lead the global textile market. The collective efforts of the government, industry stakeholders, and artisans will pave the way for a thriving and prosperous Indian textile industry, one that continues to be a symbol of excellence, craftsmanship, and innovation.
Source: Financial Express
Over 400 openend spinning mills in Tamil Nadu suspended operations on Monday, July 10, as production costs had turned unviable for the mills. G. Arulmozhi, president of Openend Spinning Mills’ Association, told The Hindu the strike had resulted in loss of ₹40 crore a day as nearly 30 lakh kg of yarn was not produced by the mills on Monday. Most of the openend spinning mills, which are present in large numbers in Vellakoil, Dindigul, Mangalam, Palladam, and Sulur, are medium or small-scale and are LT CT electricity consumers. Last year, the Tamil Nadu Generation and Distribution Corporation introduced peak hour charges, increased current consumption charges, and hiked the demand charges. The per unit cost paid by LT CT consumers is higher than HT consumers. “These units are shelling out almost ₹70,000 more a month because of higher power charges,” he said. Further, cotton waste prices are increasing for the last 10 months though raw cotton prices have reduced. With higher production costs, openend spinning mills in Tamil Nadu are unable to compete with the units in Punjab and Haryana that are now selling yarn in Tamil Nadu at ₹5 a kg less than the price quoted by the mills here. “The north Indian mills are bearing ₹10 a kg transport cost and still offering at ₹5 a kg lesser cost. We are unable to compete with these mills. Already about 20 mills have closed down,” he said. M. Jayabal, president of Recycle Textile Federation, said fabric woven using virgin cotton yarn was sold for ₹200 to ₹4,000 a metre depending on quality. However, grey cloth produced from the openend yarn, which was manufactured from waste cotton, cost just ₹28 - ₹50 a metre. In such a scenario, increasing waste cotton price to almost 72% - 75 % of virgin cotton had increased production cost. From August last year, the cost of comber noil (waste cotton) was 60 % to 87 % of cotton prices, varying every month. “Our funds are exhausted. For 10 months, we are operating without profit and spending the financial resources on hand,” he said. The mills reduced production during the last 10 months gradually, he said.
Source: The Hindu.com
Gathered at the annual EU-India Leaders Conference 2023 in Brussels, government representatives, industry heads, and business leaders discussed new avenues of collaboration, especially under textile cooperation and the proposed EU-India Free Trade Agreement (FTA). Experts discussed the inclusion of a zero-duty policy for textiles within the proposed FTA to foster mutual growth. Further, industry leaders emphasized that a policy alignment in industry-related laws will help create a level playing field and reduce discrepancies. Talking to ETRetail, Pratik Gadia, founder and CEO, The Yarn Bazaar, who was a speaker and co-moderator for a panel discussion on EU-India textile cooperation shared that the Indian side of representation presented their concerns with respect to multiple certification requirements at different textile companies in the EU, which amplifies the cost for an Indian company to take multiple registrations. On the other hand, EU representatives highlighted the challenges associated with BIS standards for textile products in India. Some of the other representatives included Dr Amit Lath, CEO of Sharda Group of Companies, Sanjay Jain, Chairman, ICC Textile Committee and MD, TT Limited, and Bhadresh Dodhia, Chairman of the Synthetic & Rayon Textiles Export Promotion Council and Director Dodhia Group, among others. Noting the respective strengths of each nation in textiles, experts discussed the possible policy alignments. “We discussed what kind of policies can be bought in to encourage R&D and technology transfer between the two nations in the field of textile design and innovation,” Gadia said. Further, he shared that the panel discussed how collaboration can be done to empower textile companies from both the EU and India to capture a larger share of the global textile market.
Source: The retail.economictimes.indiatimes.com
Union Minister of Commerce and Industry Piyush Goyal is visiting the United Kingdom on July 10-11 to assess the progress of the free-trade agreement (FTA) negotiations between India and the UK. The Ministry of Commerce and Industry announced that he will also discuss advancements in the trade pact with the European Free Trade Association (EFTA) member countries, according to an official statement released on Sunday. This visit comes at a critical moment as the FTA nears completion per an exclusive interview the UK's Minister of International Trade Nigel Huddleston gave PTI. India and the UK are committed to expanding their economic ties and exploring avenues for enhanced bilateral trade. "With the FTA negotiations gaining momentum, the visit aims to further propel the discussions and pave the way for a comprehensive and mutually beneficial agreement that would drive economic growth and strengthen ties between the two nations," the statement said.
Source: The Cnbctv18.com
Union Home Minister Cooperation Minister Amit Shah will inaugurate a day-long mega conclave “Strengthening PACS through FPOs” in New Delhi on 14 July. The conclave is aimed at discussing ways to strengthen Primary Agricultural Credit Societies (PACS) through Farmer Producer Organisations (FPOs). The conclave will witness participation of experts from the sector as well as members from the FPOs across the country. The mega conclave is being organized by the National Cooperative Development Corporation (NCDC) in collaboration with the Union Ministry of Cooperation With an important initiative of the Ministry of Cooperation, the Ministry of Agriculture and Farmers Welfare has recently allocated additional blocks to NCDC to form and promote 1100 FPOs in the Cooperative Sector through strengthening of PACS under the scheme to bolster the cooperative sector and provide comprehensive support to small and marginal farmers. Under the FPOs Scheme, financial assistance of Rs 33 lakh is provided to each FPO. Further, nancial assistance of Rs 25 lakh per FPO is given to the Cluster Based Business Organizations (CBBOs) for promoting and handholding the FPOs. FPOs are being touted as playing a crucial role in making farming sustainable and in promoting livelihoods and improving overall quality of life of those dependent on agriculture. They help small and marginal farmers/producers access better prices, reduce transportation cost, and enhance overall productivity. The government has been pushing for integration of the PACS in the FPO scheme to enable the farmers to expand their business range of activities such as supply of production inputs; agricultural equipments like cultivator, tiller, harvester, etc. and processing and value addition, including cleaning, assaying, sorting, grading, packing, storage, transportation, etc. The PACS have a huge member base of around 13 crore farmers who are primarily engaged in short-term credit and distribution of seeds, fertilizers, etc. Presently, more than 86% of farmers in the country are small and marginal. Since, there is a need to facilitate these farmers with access to improved technology, credit, better input and more markets to incentivize them to produce better quality commodities, the Government has already taken steps to encourage the farmers associated with the PACS to form FPOs. In this regard, the Central Sector Scheme “Formation and Promotion of 10,000 Farmer Producer Organizations (FPOs) was launched under the aegis of the Union Ministry of Agriculture and Farmers Welfare. The NCDC is a statutory organisation under the Ministry of Cooperation with the mandate to plan, promote, and nance cooperatives for increasing production and productivity and instituting post-harvest facilities. During the FY 2022-23, the NCDC disbursed Rs 41,031.39 crore in different sectors including agriculture processing, weaker sections, computerization of cooperatives, service, credit and youth cooperatives and others.
Source: The Statesman
Reliance Industries Limited's revolutionary fabric brand, R|Elan, recently hosted a captivating buyer-seller meet at its stateof-the-art Fabric Studio in New Delhi. This exclusive event showcased its diverse portfolio of fabrics, spanning across sustainability, performance, and aesthetics categories, all designed to meet the evolving needs of consumers, brands, and retailers. It was an extraordinary two-day affair, which provided a remarkable platform for leading brands, garment manufacturers, and fabric enthusiasts to collaborate, innovate, and promote sustainable growth in the fashion industry. At the R|Elan Studio in New Delhi, over 50 Hub Excellence Partner Mills exhibited an impressive fabrics collection. In addition, eight of R|Elan’s esteemed partner mills presented their innovative fabric collections, further elevating the experience for all attendees. This event served as a crucial catalyst for fabric manufacturers and buyers to converge, engage in meaningful one-on-one discussions, and foster productive relationships. What sets R|Elan apart is its cutting-edge technology, which not only ensures sustainability but also imparts exceptional functional and performance attributes to its fabrics. The response from buyers was overwhelming, with particular interest and selections made in the following key fabric categories: SUSTAINABILITY: * R|Elan GreenGold - Crafted from 100% post-consumer used PET bottles, promoting a circular economy. * R|Elan EcoGold - Harnessing the power of Biomimics, this fabric initiates a natural biodegradation process. PERFORMANCE: * R|Elan Kooltex – Infused with inherent moisture management properties, keeping you comfortable all day long. * R|Elan FeelFresh - An antimicrobial fabric that actively inhibits bacterial growth, ensuring lasting freshness. * R|Elan AirTherm - Enhancing thermal insulation, this fabric keeps you cozy in colder climates. * R|Elan AllClima – Versatile and adaptive, providing coolness in hot weather and warmth in cold temperatures, guaranteeing year-round comfort. AESTHETICS: * R|Elan SuperFeel - Indulge your senses with this fabric's excellent touch and feel. * R|Elan SuperBlack – Achieve consistent shade and color fastness with this pre-colored black fabric. * R|Elan Cotluk - Experience the luxurious look and feel of cotton with this exceptional fabric. These remarkable technologies enable R|Elan to manufacture fabrics that outshine in terms of superior quality and performance. At R|Elan, the company works closely with its value chain partners to develop environmentally friendly fabrics that prioritize comfort, hygiene and fashion. It's no wonder that R|Elan, the next-generation fabric born out of extensive research and robust testing systems, has become the fabric of choice for renowned domestic and global brands, retailers, and apparel manufacturers.
Source: TECOYA TREND
Spinning Mills, a global spinning mill based in Mauritius, together with sister knitwear company Floreal Knitwear Ltd., based in Mauritius and Madagascar, have launched "Otenya", a new yarn collection made from Spiber's Brewed Protein fibers. Ferney Spinning Mills and Floreal Knitwear Ltd. are both owned by CIEL Textile, and are known for supplying premium woolen yarns and products to esteemed international brands. This launch marks an important milestone as Ferney Spinning Mills becomes the first international spinning mill to introduce yarn collections incorporating Brewed Protein fibers. Inspired by the Spanish word for "protein," the name "Otenya" perfectly represents Spiber's Brewed Protein fibers, a new class of lab-grown, plantbased, circular protein materials manufactured through a proprietary fermentation process utilizing plant-derived sugars as a primary raw feedstock for microbes. "Our development work on both spinning and knitting yarns with Brewed Protein fibers is only just beginning, but we already consider Otenya products to be particularly innovative and promising as a sustainable alternative to cashmere, ultrafine, and superfine micron merino fibers for use in woolen spun yarns. We are working together with our partner Spiber to develop a 100% Brewed Protein yarn to assess this new material's look, handfeel, and performance compared to cashmere." -Max Li Ying, Design & Product Executive of FLOREAL The inaugural Otenya collections feature a harmonious blend of RWS (Responsible Wool Standard) certified ultrafine merino wool and Brewed Protein fibers, showcasing the synergy between Spiber and Ferney Spinning Mills. The series will be unveiled at Ferney Spinning Mills' booth (G12) during the prestigious Pitti Filati event in Florence, Italy, from June 28 to 30. Starting from AW2024– 2025, customers will be able to purchase these exceptional yarns. Together, the two companies remain committed to expanding their collaborative efforts and developing a diverse array of future products.
Source: TECOYA TREND
Eric Garcetti, the US ambassador to India in an interactive session with the members of the Indian Chamber of Commerce (ICC) on Thursday acknowledged the West Bengal government’s emphasis on making the state a logistics hub. He said that West Bengal has the potential to become the logistics capital of India. While commending the West Bengal government’s emphasis on developing ports and Inland waterways, and multimodal transportation infra to make the state a logistics hub for the nation, Garcetti pointed towards the billion-dollar investments that the state is attracting from US-based MNCs. US e-commerce giant Amazon has already invested in logistics in the state. The US headquartered MNC, Pepsi has also invested in agro-processing sector in the state. Garcetti said, “The state is not only strategically located in India but also well-positioned as the gateway between south east Asia, south Asia and east Asia,” he added. The US Ambassador who met the principal chief advisor to the chief minister of West Bengal, Amit Mitra, on Wednesday, said that the US is further keen to invest in infrastructure in the state. He pointed towards, the toll company from the US that is linked with Second Vivekananda Bridge across the Ganges, a critical infrastructure for the city for 16 years.
West-Bengal: An attractive state for logistics investments West Bengal has been in talks and attracting billion-dollar investments due to its unique position that enables eicient trade and commerce in the region while also providing a multimodal connectivity to neighbouring nations like Nepal, Bhutan, Bangladesh, the South East Asian Countries and the bordering states of Bihar, Jharkhand, Sikkim, Assam. The state has the 3rd largest road network in the nation, a leading rail network density including the second largest Metro Rail network in the country and two international Airports in Kolkata and Bagdogra along with the irst private sector Greenield airport of India operational at Andal. Moreover, West Bengal is home to two major ports in Kolkata and Haldia and is furthering its efforts in the maritime sector through the two upcoming deep-sea ports at Tajpur and Kulpi. While the Tajpur deep-sea port has been awarded to Adani Group for development with a total investment of INR 25,000 crore, the Kulpi port project is also set for revival at an estimated cost of INR 3000 crore. The state if further pushing the development of Inland waterways. In 2021, West Bengal, the World Bank and the Centre signed a USD 105 million project to improve the inland water transport infrastructure in Kolkata, which has the potential to become a major transport and logistics hub linking the northeastern region and neighbouring countries. The state also has ICD that are well connected to ports via road and railway networks, supporting the movement of export-import cargo traic for the NorthEastern states and neighbouring landlocked countries of Nepal and Bhutan. The state will also soon have four greenield expressways worth Rs 1 lakh crore. Categorized as a greenield project the our proposed expressways in West Bengal namely are Kharagpur-Burdwan-Moregram Expressway, Gorakhpur-Siliguri Expressway, Varanasi-Kolkata Expressway, Raxaul-Haldia Expressway. Once operational these expressways will further increase the state’s connectivity and enhance its logistics eiciency. Furthermore, the state government is also promoting logistics hubs and industrial parks across the state. The state’s multimodality, its unique position and the efforts from the state and central government to further improve the state connectivity both within and outside the national borders has made West Bengal a magnet for foreign investments.
Source: logistics Insider
INTERNATIONAL
Standard Chartered Bank forecasts Vietnam’s economic growth at 7.2% in 2023 and 6.7% in 2024, following a solid recovery to 8.0% in 2022. The forecast is highlighted in the bank’s recently published global research report on Vietnam, titled “Vietnam – Still enjoying high-growth status”. “We still have a conviction on Vietnam’s high growth potential over the medium term,” said Tim Leelahaphan, Economist for Thailand and Vietnam, Standard Chartered. “While macro indicators moderated somewhat in Quarter 4 2022, they remain largely robust. Retail sales posted solid growth in the second half of 2022, implying improved domestic activity.” According to Standard Chartered’s economists, trade balance has tentatively improved; exports may face global headwinds; imports are at risk of reversal. FDI disbursements have continued to increase, but the outlook hinges on the global economy. Inflation may pose a threat to Vietnam’s continued recovery. Inflation is anticipated to rise throughout 2023, potentially reaching 6% in the final months of the year and averaging 5.5% in both 2023 and 2024 (from 3.2% in 2022). Vietnam’s fiscal deficit may persist and be a source of inflation. BUSINESS Standard Chartered forecasts Vietnam’s 2023 GDP growth at 7.2% Standard Chartered Bank forecasts Vietnam’s economic growth at 7.2% in 2023 and 6.7% in 2024, following a solid recovery to 8.0% in 2022. TOPICS: Party building | Human rights | Patriotic emulation | Green transition | Digital transformation | East Sea | Climate change | Post-pand 2/4 Standard Chartered Bank expects the State Bank of Vietnam (SBV) to hike rates by another one% in Quarter 1 2023 and to stay on hold through end-2024 as it shifts to a tightening stance with a view to maintaining stability. “We expect the central bank to stay vigilant against inflation, a weakening Vietnamese dong, and financial instability arising from risky loans in the real-estate sector. The SBV may prefer a relatively strong Vietnamese dong, as long as it does not harm the country’s trade competitiveness,” said Tim Leelahaphan, Economist for Thailand and Vietnam, Standard Chartered. According to Tim, the Vietnamese dong has recovered sharply in recent weeks, however, the pace of Vietnamese dong appreciation is likely to slow down, as several headwinds persist. The replenishment of FX reserves is likely to be a key priority for the central bank. An improving Current Account backdrop and tourism recovery is likely to be supportive to the Vietnamese dong. The USD/VND exchange rate is forecast at 23,400 by end-2023 and 23,000 by end-2024.
Source: The en.vietnamplus.vn
Laws Knitters Studio is on a mission to spotlight the heritage of knitting. Founded by Hong Kong-based apparel manufacturer Lawsgroup in 2022, the studio is redefining knitted products by blending traditional craftsmanship with modern techniques. The pieces it produces reflect and honour Hong Kong’s culture while maintaining a focus on sustainability and revitalising manufacturing, core pillars of Laws Knitters Studio’s work. It is fitting that the studio calls Sham Shui Po home: once the heart of the city’s textile manufacturing industry and now facing gentrification, the neighbourhood in Kowloon is home to artists working to preserve and reimagine Hong Kong’s cultural heritage.Laws Knitters Studio released a series titled “Monster Buildings” in March, featuring 14 tapestries that draw inspiration from Hong Kong’s unique architecture and densely packed buildings. By incorporating distinctive architectural patterns – from the rounded glass windows of Jardine House in Central to the famed so-called Monster Building in Quarry Bay – the knitted artworks help preserve a hallmark of Hong Kong culture.The series is on display in “The Full Gamut” exhibition at the Hong Kong Design Centre’s Design Spectrum in Lai Chi Kok Road, which features more than 40 interdisciplinary design projects that reimagine the city and runs until July 19. Laws Knitters Studio also works actively with other designers and artists to promote knitting and an innovative approach to traditional art. Reflecting Hong Kong’s fusion of Eastern and Western cultures, Laws Knitters collaborated with French fashion brand Agnès b to create the “Fashion, Photography and Knit Art” exhibition, hosted at D2 Place in Cheung Sha Wan in May as part of this year’s French May Arts Festival.Laws Knitters turned Agnès b’s photographs of French gardens into knitwork sculptures that transformed the exhibition space into a fantastical garden inspired by France and Hong Kong. From major exhibitions to smaller collaborations, the studio tries to make its art sustainably and supports efforts to make Hong Kong more sustainable. The yarn used in the “Fashion, Photography and Knit Art” sculptures was made by Laws Knitters Studio using recycled fishing nets.n another crossover, a pop-up shop opened by Laws Knitters and British car brand Mini is selling items knitted using recycled yarn. Proceeds from the sale of the items, such as tote bags and key chains, inspired by classic Mini cars will be donated to environmental charity Redress, which aims to reduce textile waste and educate consumers on sustainable fashion. The pop-up shop at the Festival Walk shopping mall in Kowloon Tong will be open until July 18. Laws Knitters Studio is also working with organisers of October’s Fashion Summit, which will bring together key fashion industry players to work towards sustainable fashion production and consumption in Asia.The studio will create knitted souvenirs modelled after Hong Kong’s famous neon signs, allowing attendees to take a piece of the city’s heritage with them.
Source: The Scmp
Everything that comes to your door today, including the necessities, fresh produce, crisp veggies, and a variety of commodities, carries a weighty burden that is invisible but inescapable: a long, intertwining trail of emissions. These emissions, often referred to as Scope 3 emissions, are deeply woven into the value chain that powers the manufacturing sector. There are three major categories into which emissions might be placed: Scope 1, Scope 2, and Scope 3. Simply expressed, Scope 1 emissions in the context of an organisation with a factory refer to the emissions brought on by the operations of that organization’s own factory. The company also depends on its suppliers for raw materials and components, which causes Scope 2 emissions from their suppliers’ plants. The supply chain serves as the lifeline of the manufacturing industry. It is crucial for the manufacturing industry as it connects raw materials, production processes, and final products. But it is particularly important for the automotive industry to adopt sustainable practices as the industry operates within a complex supply chain that involves multiple stakeholders, including suppliers, manufacturers, and distributors. Furthermore, the automotive industry has a direct impact on the quality of air, water, and overall environmental health. As a result, the need for a paradigm shift toward sustainable practices cannot be overstated. By prioritising green logistics, manufacturers in India can unlock the potential to not only reduce their carbon footprint but also achieve operational efficiency, cost savings, and resilience in the face of environmental challenges. A sustainable supply chain in India’s industrial industry must overcome numerous obstacles. The road to sustainability may appear difficult, with everything from inefficient transportation methods and antiquated warehouse management procedures to excessive packaging waste. The potential to innovate, work together, and build a greener and more sustainable future for everybody are present within these problems, though.
Source: Textile Value Chain
