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Aditya Birla Fashion and Retail is in discussion with Universal Sportsbiz (USPL) to acquire Virat Kohli owned apparel brand Wrogn, said a report by IndiaRetailing. As per the report, USPL has been actively seeking a buyer forWrogn. The company has had discussions with with potential suitors such as Dream 11 and Mukesh Bansal, founder of Myntra. USPL brands including Wrogn and Single are present in 144 cities across the country. Recently, ABFRL acquired 51 per cent stake in ethnic-wear retailer TCNS Clothing, which owns brands such as W, Elleven and Aurelia. ABFRL sells its brands through 28,500 multi-brand outlets and operates around 3,500 stores
Source: The retail.economictimes.indiatimes.com
India’s overall export (merchandise plus services) was US$ 776.3 billion in 2022-23 which is the highest in terms of overall exports until now. The Government has taken the following measures to promote India’s export and to develop its large domestic market to the optimum level and expand its reach across the world: i. New Foreign Trade Policy has been launched on 31 March, 2023 and came in to effect from 1st April, 2023. ii. Districts as Export Hubs has been launched by identifying products with export potential in each district, addressing bottlenecks for exporting these products and supporting local exporters/manufacturers to generate employment in the district and to develop its large domestic market to the optimum level and expand its reach across the world. (iii) Interest Equalization Scheme on pre and post shipment rupee export credit has also been extended upto 31-03-2024. iv. Assistance provided through several schemes to promote exports, namely, Trade Infrastructure for Export Scheme (TIES) and Market Access Initiatives (MAI) Scheme. v. Rebate of State and Central Levies and Taxes (RoSCTL) Scheme to promote labour oriented sector export has been implemented since 07.03.2019. vi. Remission of Duties and Taxes on Exported Products (RoDTEP) scheme has been implemented since 01.01.2021. With effect from 15.12.2022, uncovered sectors like pharmaceuticals, organic and inorganic chemicals and article of iron and steel has been covered under RoDTEP. Similarly, anomalies in 432 tariff lines have been addressed and the corrected rates have been implemented with effect from 16.01.2023.
vii. Common Digital Platform for Certificate of Origin has been launched to facilitate trade and increase Free Trade Agreement (FTA) utilization by exporters. viii. 12 Champion Services Sectors have been identified for promoting and diversifying services exports by pursuing specific action plans. ix. Active role of Indian missions abroad towards promoting India’s trade, tourism, technology and investment goals has been enhanced. x. Regular monitoring of export performance with Commercial Missions abroad, Export Promotion Councils, Commodity Boards/ Authorities and Industry Associations and taking corrective measures from time to time. This information has been provided by the Union Minister of State for Commerce and Industry, Smt. Anupriya Patel in a written reply in the Lok Sabha today.
Source: PIB
Keeping in view India's vision of becoming 'Atmanirbhar', Production Linked Incentive (PLI) Schemes for 14 key sectors have been announced with an outlay of Rs. 1.97 lakh crore (over US$26 billion) to enhance India's Manufacturing capabilities and Exports. The 14 sectors are: (i) Mobile Manufacturing and Specified Electronic Components, (ii) Critical Key Starting Materials/Drug Intermediaries & Active Pharmaceutical Ingredients, (iii) Manufacturing of Medical Devices (iv) Automobiles and Auto Components, (v) Pharmaceuticals Drugs, (vi) Specialty Steel, (vii) Telecom & Networking Products, (viii) Electronic/Technology Products, (ix) White Goods (ACs and LEDs), (x) Food Products, (xi) Textile Products: MMF segment and technical textiles, (xii) High efficiency solar PV modules, (xiii) Advanced Chemistry Cell (ACC) Battery, and (xiv) Drones and Drone Components. The purpose of the PLI Schemes is to attract investments in key sectors and cutting-edge technology; ensure efficiency and bring economies of size and scale in the manufacturing sector and make Indian companies and manufacturers globally competitive. These schemes have the potential of significantly boosting production, employment and economic growth over the next five years or so. PLI Schemes for all 14 Sectors have been notified by the concerned Ministries/ Departments after due approval. These Schemes are in various stages of implementation by the implementing Ministries/ Departments. The PLI scheme is expected to have a cascading effect on the country's MSME ecosystem. The anchor units that will be built in every sector are likely to set a new supplier/vendor base in the entire value chain. Most of these ancillary units are expected to be built in the MSME sector. Out of the 733 applications selected under various PLI Schemes, 176 MSMEs are among the PLI beneficiaries in sectors such as Bulk Drugs, Medical Devices, Pharma, Telecom, White Goods, Food Processing, Textiles & Drones. All the approved sectors identified under PLI Schemes follow the broad criteria of focusing on key technologies where India can leapfrog and multiply employment, exports and overall economic benefits for the economy. These sectors were approved after vetting by NITI Aayog and after detailed deliberations with concerned Ministries/ Departments. As on date, Union Cabinet has not approved any proposal to add any new sectors under PLI Schemes. This information has been provided by the Union Minister of State for Commerce and Industry, Shri Som Parkash in a written reply in the Lok Sabha today.
Source: PIB
Cabinet secretary Rajiv Gauba will hold a review of the production-linked incentive scheme today to take stock of the progress made and discuss the way forward to make it more effective, a senior government official said on Wednesday. The review meeting will be chaired by Gauba and will see participation of officials from 10 government departments that are implementing the scheme, apart from representatives of the Union ministry of finance. The department for promotion of industry and internal trade (DPIIT) is playing the role of the coordinator.The Cabinet note with proposals for extending the scheme to parts of new-age bicycles, leather, footwear, and toys have already been circulated. Union finance minister Nirmala Sitaraman said last week that the government will consider including chemical and petrochemical sectors in the scheme.Of the 14 sectors covered by PLI, activity has been visible especially in eight sectors — large scale electronics, telecom, pharmaceuticals, food processing, white goods, and auto and auto components. Pick-up of PLI in sectors like high efficiency solar PV modules, advance chemistry cell (ACC) battery, textile products, and specialty steel is yet to be seen. Despite a large outlay of Rs 1.97 trillion for the scheme, the off-take of benefits has been slow. Since its launch in March 2020, only Rs 2,900 crore of incentives have been disbursed against the incremental production of Rs 6.75 trillion. Under the scheme, Rs 62,500 worth of investments have been realised. So far 733 applications have been approved under the PLI scheme.The purpose of the PLI scheme is to attract investments in key sectors and cutting-edge technology; ensure efficiency and bring economies of size and scale in the manufacturing sector and make Indian companies and manufacturers globally competitive. According to the government, these schemes have the potential of significantly boosting production, employment and economic growth over the next five years or so.
Source: Financial Express
India has been a bystander as the ESG (environmental, social and governance) revolution swept through advanced economies and global investment practices. But it’s high time for the world’s fifth-largest and fastest-growing economy, which leads the G20’s ESG agenda, to step up. Fortunately, India is well aware of its responsibilities, and the regulators are forever eager to take on new assignments. The Securities and Exchange Board of India (Sebi) has been urging businesses to disclose intricate details for transparency and sustainability. The business responsibility and sustainability reporting (BRSR) now mandates such disclosures for top companies. Sebi introduced the BRSR core framework with nine major ESG attributes to guide disclosures. For a conscious ecosystem, transparent and reliable disclosure is just the start; fine-tuning ESG rating practices is vital. Sebi addressed standardization, comparability, and effectiveness of ESG ratings through its recent circular on the subject. The ESG rating and classification space has been unclear for some time, leaving participants to fend for their own interpretations. Different rating providers, like S&P DJI ESG Scoring, Morningstar’s Sustainalytics, and Crisil’s ESG scoring, have strengths and weaknesses, but the lack of common foundation and overarching principles raises concerns about reliability.The S&P BSE 100 ESG index stands to be an interesting case in point here. In ESG context, one could consider this an important index. Especially considering that this index draws upon the bellwether S&P BSE 100 index, only includes stocks under coverage by Sustainalytics and relies on the S&P DJI ESG scoring. Interestingly, 17 out of the 53 companies represented on this index, basically one-third, is rated above 30 by Sustainalytics. Five are rated above 40. Sustainalytics recommends ESG Risk ratings from 30-40 be interpreted as ‘high risk’ and 40+ as ‘severe risk’. As a corollary, consider ESG-focused mutual funds that demonstrate varying interpretations of ESG standards, resulting in minimal overlap and subjective approaches. With 160 domestically listed and 40 overseas entities invested in collectively, the segment’s diverse universe reflects each fund’s distinct portfolio. Clearly, the interpretation of ESG parameters is a matter of perception.Of the 161-constituent universe that ESG-focused mutual funds invest in 78 or almost 50% of the constituents have been scored 60 or below on a 100-pointer ESG rating scale by CRISIL. 100 being the highest here. To establish a common foundation and contextual evaluation parameters, Sebi introduced guidelines in its recent Master Circular for ESG rating providers. This move is expected to foster progress in the second hemisphere of an ESG-conscious ecosystem. The circular’s most notable proposition is the inclusion of a Parivartan score, rewarding progress alongside absolute status in ESG ratings. This move incentivizes transition finance, encouraging companies to raise funds for ESG goals. The progress-based reward system also fosters commitment to achieving net-zero in the future. Another significant step is providing clear guidance on business model choices, ensuring ESG ratings providers adopt a distinct payment model to avoid conflicts of interest. The circular’s annexures offer a common foundation by laying out contextualized ESG parameters for Indian dynamics, enabling ESG rating providers to develop robust models with minimum coverage standards.Packing some more action into the agenda, Sebi’s recent guidelines permit mutual funds to launch multiple ESG-oriented funds, each focusing on specific strategies such as exclusion, integration, best-in-class, positive screening, impact investing, sustainable objectives, or transition investments. These funds must allocate at least 80% of their corpus to the chosen strategy, paving the way for a more nuanced ESG-conscious investing ecosystem. With improved ESG-focused disclosures and a well-established ESG ratings framework, the next step involves raising awareness in the investing ecosystem. If the mutual fund industry’s efforts are any indication, we are on the right path. Conversations around ESG are migrating from academia and industry conventions to boardrooms and investment models real fast. The efficacy of regulations and pace of implementation promises India an important seat at the ESG-conscious global table.
Source: Live mint
The Energy and Resources Institute (TERI) and energy company Shell have identified setting up low-carbon manufacturing industry and expansion of power grid along with eight other key areas for India’s path towards sustainable development and net zero emissions. The joint report, ‘India transforming to a net zero emissions energy system: A call to action to 2030’, outlines what India will need to do this decade in order to be on a trajectory to meet its 2030 commitments and its Net Zero Emissions (NZE) 2070 goal.Energy lies at the heart of India’s development aspirations. At the same time it confronts an energy trilemma of balancing energy security, energy equity, and environmental sustainability while pursuing decarbonisation, the report said.“Decisions made in this decisive decade will determine India’s ability to decarbonise while ensuring continued economic growth and development,” it said, adding that concerted efforts and partnerships are essential among the government, businesses, and civil society. The report presents four potential scenarios, all aiming to achieve net zero emissions within India’s energy system by the latter half of this century. It highlights the need for increasing electrification in energy end use sectors, meeting electricity demand increasingly from non-fossil sources, and developing low-carbon alternatives such as hydrogen and biofuels for hard-to-electrify segments. It also advocates deploying digital solutions to enable low carbon alternatives, supporting circular economy business models to drive resource efficiency, and creating an enabling environment for planning, establishing and scaling up carbon removals after 2030 to address the most expensive and hardest-to-abate residual emissions. “… the report explores pathways for India until 2030 to achieve its commitments, emphasising the pivotal role of renewable energy, energy efficiency, and electrification in its decarbonisation efforts,” Shell Group of Companies in India chairman Nitin Prasad. The report further emphasises the need for policy interventions, technological advancements and behavioural changes to facilitate the transition towards more sustainable energy practices.“India possesses a remarkable prospect to establish itself as a prominent global front-runner in low-carbon technologies and solutions. To seize this opportunity, India must give paramount importance to establishing a conducive regulatory framework that promotes growth and encourages innovation,” TERI Director Vibha Dhawan said.
Source: Financial express
The country’s largest organised retailer, Reliance Retail, is working on a new value retail store format called Yousta. The move will pit Reliance Retail directly with Trent’s Zudio, Landmark Group’s Max Fashion and Shoppers Stop’s Intune, informed sources have told Fe, as growth prospects beckon in the category. Reliance Retail will roll out the new Yousta stores of around 5,000-10,000 sq. ft. in size in cities such as Hyderabad, Delhi and Mumbai in the initial phase, the sources said.Pricing will be competitive at under Rs 500 per unit, targeted at youth, children and families. A gradual ramp-up of stores across more metros and cities will happen in the months ahead, as Reliance Retail is looking to take store count of Yousta to around 200-250 over the next few years. The retailer is speaking to malls and high streets across cities to lease space for the new format, persons in the know said. Executives at Reliance Retail were not immediately available for comment. However, some experts see Reliance Retail’s move as a belated acknowledgement of a segment that constitutes nearly 90% ($45 billion) of the estimated $50 billion domestic fashion market. The premium end is pegged at 10% ($5 billion) of the domestic fashion market. “Much of the attention of apparel retailers in recent years has been at the top-end of the fashion market. While affluence at the top-end is high, the space has also become crowded with local and international brands,” says Devangshu Dutta, chief executive officer at Gurugram-based retail consultancy Third Eyesight. “The larger value retail market has consumers in the middle and lower middle class who while being conscious of their budgets are also aspirational,” he says. “With the right product and pricing, volume sales can be significant in this segment,” he says. Reliance Retail has an existing value retail format called Reliance Trends, which has nearly 2,500 stores across the country. However, the company has been looking to broaden its appeal in the category with more store formats, sector experts said. Yousta is expected to fill that gap, they say.“The value retail market has long-term growth potential because there are number of consumers who are moving from unbranded to branded products. They are looking at affordably-priced branded goods, which value retailers can cater to,” says Aliasgar Shakir, retail analyst at Mumbai-based brokerage Motilal Oswal. Some experts say that the discretionary slowdown in the marketplace has pushed apparel retailers to look at the value retail space more closely. “Intune is a ‘Fashion For All’ format, which is one of our strategic initiatives to cater to young families,” Venu Nair, MD & CEO, Shoppers Stop, said in a recent investor call. Nair admitted on the earnings call that the apparel segment in general has been witnessing moderation and that the value retail foray could help the company tap into the growing trend for affordable fashion and lifestyle products. Trent’s Zudio and Max Fashion have big plans for the category. At Trent’s FY23 annual general meeting held recently, the company said it would open 200 stores of Zudio in FY24, much higher than estimates of analysts. In FY23, Trent had opened 117 Zudio outlets taking the total store count of the brand to 352. Max Fashion will add 100 stores in the next one year, top officials at the company said, taking its total outlet count to close to 600.
Source: Financial express
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Messe Frankfurt’s Texpertise Network will in future realign its sustainability event formats at its more than 50 textile trade fairs around the world. The information, discussion, education and networking formats for sustainable business will then be entitled ‘Econogy’. The basis for this is the new common identity of the international textile trade fairs. With this step, Messe Frankfurt’s textile events are focusing even more strongly on sustainability as a topical issue and an increasing sales driver in the global textile industry. Economic success in the global textile sector can only be achieved with a consistent sustainability strategy. Messe Frankfurt’s Texpertise Network is now taking greater account of this development and is realigning its sustainability activities at its more than 50 textile trade fairs in 11 countries. The aim is to advance the topic of sustainability in the textile and fashion industry even more strongly than before and to relate it closely to the demands of economic and social change. For this step, a new cross-trade fair strategy was developed which, among other things, creates a common communicative umbrella for the sustainability activities of the events for the first time, provides for the strategic further development of content formats relating to sustainability and harmonises the sustainability checks of the trade fairs. The realignment offers better orientation for customers and partners within the Texpertise Network, creates cross-trade fair synergies and makes the sustainability activities of exhibitors at trade fairs more visible and measurable.
Econogy – orientation, know-how and transparency Under the title ‘Econogy’, the sustainability activities of the Texpertise Network will provide orientation across trade fairs and internationally. The term ‘Econogy’ summarises economy and ecology in one word and shows how crucial sustainability is today for a company’s economic success: sustainability is increasingly becoming an integral part of all entrepreneurial thinking and actions. ‘The complexity with regard to social, economic and ecological change in the entire textile value chain continues to increase, which makes it all the more important today to offer orientation for our textile trade fairs, to make innovative approaches by the exhibiting companies visible and to promote the exchange of knowledge among all stakeholders along the textile value chain’, emphasises Olaf Schmidt, Vice President Textiles and Textile Technologies at Messe Frankfurt. The creative inspiration for the term ‘Econogy’ is the famous quote by David Suzuki, Canadian biologist, publicist and Alternative Nobel Prize winner: ‘Let’s give the economy back the eco!’ With this in mind, the uniform designation ‘Econogy’ will apply to the sustainability activities at all Messe Frankfurt textile trade fairs, in Frankfurt and, gradually, worldwide. A redesigned icon accompanies the communication of ‘Econogy’ and offers a high recognition value. Knowledge transfer, curating and orientation play an increasingly important role for the industry and thus also at the events of the Texpertise Network. This is also due to the fact that the discussions surrounding the concept of sustainability itself are changing. In particular, the EU textile strategy on circular and recyclable textiles, supply chain laws at national and EU level and the planned EU directive on green claims require additional know-how, targeted actions and transparent communication from companies.
Mix-and-match content formats The knowledge and content formats on the topic of sustainability are therefore also undergoing a strategic realignment. This gives partners, exhibitors and visitors added value for their positioning and personal development. The content formats will be further developed in terms of content and concept and then in the next step exported to textile events abroad. Uniform naming also creates transparency and recognition value. The trade fair tours of suppliers and products that produce sustainably will then be called ‘Econogy Tours’ across all events, the directories of sustainable exhibitors will become the ‘Econogy Finder’ and the lectures on the topic of sustainability will in future be called ‘Econogy Talks’.
Alignment of sustainability checks For many years, exhibitors of more sustainable products and services have had the opportunity to undergo a sustainability check at the international textile trade fairs of the Texpertise Network and, after s successful check, to be listed in special trade fair guides. In the future, these checks will be harmonised across trade fairs in order to create more orientation, transparency and customer friendliness across industries and countries. Visitors and partners can thus network more effectively and more effectively with the reliably and transparently curated exhibitors. For these checks, Messe Frankfurt works with independent external sustainability experts and always takes into account the latest status of recognised seals, certificates and indices. From 2024, the Sustainable Development Goals (SDGs) proclaimed by the United Nations will be integrated into sustainability checks in a more stringent and measurable manner. This will make it more transparent in the future which SDGs individual formats or measures contribute to. The complex topic of sustainability is also constantly being developed and promoted within the company. After all, Messe Frankfurt is aware of its responsibility to people and the environment and has high expectations of its business partners in terms of ethical standards. Based on the Code of Conduct and Messe Frankfurt’s overarching corporate strategy, Messe Frankfurt’s Texpertise Network for Textiles & Textile Technologies has formulated its self-image for implementing the topic of sustainability at the company’s global textile trade fairs.
Sustainable commitment for more than 15 years Whether through the creation of platforms for networking and better visibility, further training and knowledge transfer, partnerships or personal initiative: with the Texpertise Network, Messe Frankfurt has been working for almost 15 years to accelerate innovation and change in the textile and fashion industry in order to advance the achievement of the Sustainable Development Goals (SDGs) of the UN and the Paris Agreement on Climate Change. The first SDG Report of Messe Frankfurt’s Texpertise Network was published in 2023. The report summarises Messe Frankfurt’s global commitment to achieving the Sustainable Development Goals at its global textile trade fairs and provides an outlook on further planned measures and targets. Messe Frankfurt has also been a member of the UN Global Compact since 2010 and last year set up a Sustainability Board to strategically develop the topic of sustainability at the corporate level.
Texpertise, the textile business network Messe Frankfurt’s Texpertise network brings together the latest topics, trends and events relating to the textile business and brings together more than 500,000 industry participants from all over the world. With more than 50 events in 11 countries, Messe Frankfurt is the international market leader for events in the textile industry along the entire textile value chain. In cooperation with the United Nations Office for Partnerships and supported by the Conscious Fashion and Lifestyle Network, Texpertise informs and mobilises the textile sector to implement solutions for social, economic and ecological change. The aim is to raise awareness of the Sustainable Development Goals at all Texpertise Network textile events – from Frankfurt to New York, Atlanta, Shanghai and Paris.
Source: Textile world
Hugo Boss has raised its sales and profit outlook after reporting a 20% jump in second-quarter revenues, as a brand revamp and marketing push helped the German fashion house overcome sluggish industry-wide demand in China and the U.S The premium fashion group has stayed resilient in the slowing U.S. and European markets while boosting sales in Asia despite China having a slower recovery than expected. Shares in luxury goods companies have come under pressure due to worries over the pace of China's post-pandemic rebound. But Hugo Boss saw currency-adjusted sales in China increase 56% from a year earlier, while the business in EMEA and the Americas benefited from a pick-up in tourism. The retailer said it opened 17 new Boss stores in the first half, with six of those in Asia. Hugo Boss CEO Daniel Grieder said the company will open its first larger store in China's fifth biggest city Guangzhou in the fourth quarter. China still offers strategic potential for Hugo Boss, Grieder told reporters on a call. Hugo Boss shares, which have gained 32% this year, fell slightly, down 1% by 0740 GMT on Wednesday. Deutsche Bank analysts said the market was already expecting a guidance increase, and said higher working capital "will be seen skeptically" given the retailer is battling high inventories. Trade net working capital is expected to increase to between 18% and 19%, Hugo Boss said, up from prior guidance of 17%, due to inventories which jumped 53% in currency-adjusted terms over the first half. Retailers around the world have been struggling with surplus stocks of clothing and footwear after last year's supply chain disruptions. Hugo Boss said it expects a "gradual" normalisation of inventories to begin in the second half and is confident of bringing stocks down to less than 20% of group sales by 2025, from 56.6% at end-June. Group quarterly sales grew to 1.03 billion euros ($1.13 billion) on a currency-adjusted basis, from 878 million a year earlier, broadly in line with analysts' expectations as both the Boss and Hugo brands gained market share especially among younger shoppers. The company expects annual sales to grow 12% to 15% and reach 4.1 billion to 4.2 billion euros, compared with its previous forecast for about 10% growth to 4 billion euros. Hugo Boss sees 2023 operating profit growing by 20%-25% to a level of 400 million euros to 420 million euros, versus its prior range of 370 million to 400 million euros.
Source: The retail.economictimes.indiatimes.com
With the CAGR of 5.45 per cent, the outdoor apparel market is expected to be worth US $ 22.8 billion by 2030. According to a report from SkyQuest, US, this segment is experiencing a surge in demand, primarily fueled by the increasing popularity of outdoor activities such as hiking, camping, and rock climbing. The report says that as more individuals are drawn to the allure of exploring nature and engaging in thrilling outdoor adventures, they seek the right gear to ensure their comfort, safety, and performance. Within this segment, the bottom wear sector has emerged as the dominant player, boasting the highest market share in the outdoor apparel market. The subcategories of bottom wear include shorts, trousers, and tights and leggings, each catering to specific customer preferences and outdoor activities. Overall the men’s segment is expected to dominate the market due to the increase in men’s outdoor involvement. The North Face, Patagonia, Columbia Sportswear, Mountain Hardwear, Mammut Sports Group, Jack Wolfskin, Salomon, Helly Hansen, Icebreaker ,Smartwool, Montane, Fjällräven, Rab, Haglöfs, Vaude, Berghaus are some of the leading companies in this product category. The outdoor apparel market is an expansive and rapidly growing industry that caters to a diverse and enthusiastic consumer base that enjoy spending time in nature and engaging in outdoor activities
Source: Apparel Resources
Zero Waste Europe (ZWE), an environmental network, emphasises that the fashion and textiles industry’s most significant global warming impact occurs during the production phase. They advocate for a transformative overhaul of the industry with specific and ambitious targets in mind. In the policy paper titled T(h)reading a Path: Towards Textiles Waste Prevention Targets, the apparel industry is urged to tackle the emissions gap and achieve the targets outlined in the Paris Agreement. The report highlights that the fashion and textile industry’s primary climate impact stems from the production phase. The report recommends EU-level textile waste reduction targets of at least one-third by 2040 compared to 2020. However, there is still a nearly 40 per cent emissions reduction gap to meet the 1.5 degrees target. According to her, the solution lies in reducing overproduction. Moreover, the paper highlights that the EU’s material footprint, which represents the total materials required to produce the demanded goods from both inside and outside the EU, surpasses the global average and reaches highly unsustainable levels. The report emphasizes that the average European consumes 26kg of textiles annually, generating around 11kg of textile waste. Notably, the environmental impacts go beyond the EU’s boundaries, as material extraction and production predominantly occur outside the EU. Moreover, the common practice of exporting textile waste pollutes the soil and water in recipient countries in the Global South.
Source: Apparel Resources
According to a report by the Chinese embassy in Dhaka, Bangladesh has experienced rapid growth in foreign direct investment (FDI) from China since it joined the Belt and Road Initiative (BRI) in 2016 even as the country’s favourable investment climate has attracted Chinese investors, leading to increased inflows of FDI. Reports claimed this adding, over the past decade, Bangladesh has received over US $ 2.6 billion in FDI from China, whereas the total FDI from Japan stands at just US $ 380 million to date, as per data from Bangladesh Bank even as Chinese investments have been directed towards various industries, including readymade garments, telecommunications, energy, manufacturing, infrastructure, leather and leather goods, chemicals, and more. In addition to the surge in FDI, bilateral trade between Bangladesh and China has also witnessed significant growth. In 2022, the total trade volume reached US $ 25 billion, a considerable increase from US $ 6.77 billion in 2013. China mainly imports capital machinery and raw materials from Bangladesh, while Bangladesh’s exports to China predominantly consist of vegetables, frozen and live fish, leather and leather goods, paper, yarn, and woven fabrics. The report, released on 2nd July earlier this year, provides a comprehensive assessment of the overall investment by Chinese investors in Bangladesh, as well as the challenges they may encounter in the process. The increasing investment inflows from China and the burgeoning bilateral trade demonstrate the strengthening economic ties between the two countries.
Source: Apparel Resources
PRISMA’s simultaneous dual measurement is the most effective way to detect basic faults in yarn quality control. Providing spinning mills with the best yarn quality while reducing waste, splice cycles and energy consumption. PRISMA’s optical infrared and mass sensors work in harmony, combining the two outputs into one signal. This ensures the most accurate fault detection and the most precise cut execution. The sensor takes into account factors like raw material, type of fault, length of the fault, and even hairiness, which results in the best recognition and classification of faults by length and intensity. Spinning mills that rely on PRISMA can be sure of the highest profitability at all times.
Why invest in dual measurement technology? Every sensor technology possesses its strengths and limitations. Even with an incorporated yarn clearing system, there may still be defects in the yarn that could result in potential complaints. Through the utilization of yarn clearers, equipped with both optical and capacitive measurements, spinning mills are investing in comprehensive quality control. It’s crucial to note significant variations exist among dual measurement technologies available today. With the launch of PRIMSA in 2019, Loepfe was the first to bring dual measurement to the market. This innovative system utilizes two powerful sensor technologies and unique software for simultaneous signal processing. As a result, PRISMA’s dual measurement capabilities remain unparalleled in today’s market.
The benefits of a clever software The clever PRISMA software ensures yarn excellence and straightforward handling at all times. Both sensors monitor the yarn concurrently, fusing their outputs into a single signal before classifying the detected fault according to its length and strength. The clearing system assesses exclusively this combined output rather than individual signals – guaranteeing the identification of every type of defect regardless of volume, mass or size. By utilizing the exceptional blend of both signals, spinners can rest assured that any type of fault will be detected. The sensors and the software consider aspects such as raw material, type of fault, length of the fault and hairiness. PRISMA also offers the NSLT Cluster feature that can detect irregular accumulations and periodical faults. By utilizing the PRISMA system, operators can easily track the length and combined intensity of each defect in the provided cut history for every spindle. This eliminates the need for separate reporting since all issues are measured through a comprehensive system. With these detailed insights about the yarn properties, decisions based on accurate data can be made. The simultaneous dual measurement technology is exceptionally user-friendly. There’s no need for the user to be concerned with configuring or combining the two sensors, nor choosing which sensor should take precedence in evaluating and determining whether a fault needs cutting or not. The smart functionality of the PRISMA clearer system guarantees an optimal setup is always achieved.
Source: Textile world
