INTERNATIONAL
NATIONAL
To support the weaver community and increase productivity in the handloom sector, Aditya Birla Group’s Birla Cellulose has collaborated with over 1500 weavers across the country. They have introduced them to sustainable, eco-friendly, cost-effective, and durable materials. The company ensures the timely and consistent delivery of quality yarn at stable prices, thereby boosting the capabilities of weavers. These innovative solutions empower weavers to produce high-quality products at better prices while preserving the art of handloom. Along with its regional partners, Birla Cellulose has created awareness about a natural, sustainable, and durable alternative by introducing fibers such as Viscose, Modal, and Excel under the Liva brand. Birla Cellulose has already supplied 50 tons of yarn to weavers in the past year, ensuring timely delivery. This initiative helps revive the industry and supports its expansion, aligning with the vision of “Make in India” for the handloom sector. Hand-spun and wovenhandloom fabrichave always been integral to India’s rich cultural identity. The handloom industry is known for being less capital-intensive, using minimal power, and being eco-friendly. It also readily adapts to the needs of the market and embraces innovation. However, factors such as productivity, efficiency, and the younger generation’s migration to other occupations due to lower income and unstable work have contributed to the industry’s decline. Furthermore, the handloom weaving sector has faced challenges due to the rise of fast fashion and the growing influence of power looms. According to Priyanka Priyadarshini, AVP of Business Development, Birla Cellulose, their steps aim to inspire new artists and provide them with stable-priced raw materials are creating demand consistency. To create a seamless supply chain of Liva handloom products for consumers, Birla Cellulose has undertaken rural outreach programs, awareness campaigns, technical seminars, and offline and online marketing activities. They have extended their support beyond production, assisting with post-production requirements such as tagging, market connections, roadshows, and door-todoor promotions. They have successfully concluded Hub meets in Assam, Mizoram, Manipur, Meghalaya, Orissa, West Bengal, and Uttar Pradesh. Birla Cellulose is actively working towards increasing business in the Handloom Sector, generating economic, cultural, and social opportunities for weavers while adding cultural value for consumers. The introduction of the saree brand “Navyasa” by Liva has further rejuvenated intricate weaves and traditional fabrics, preserving the magic of centuries-old culture from every corner of India. They continue to explore innovative ways to support the weaver community, preserve India’s cultural heritage, and contribute to sustainable and eco-friendly fashion.
Source: Indian Textile Journal
India has expressed concerns over mis-pricing, under-invoicing and imposition of non-tariff barriers by certain countries as it impacts international trade. These issues were flagged by Commerce and Industry Minister Piyush Goyal during the 13th BRICS Trade Ministers’ Meeting held on Monday.“… the minister expressed his concern about the negative impact trade mis-pricing and under-invoicing has on the economies,” the commerce ministry said in a statement. BRICS is a grouping of Brazil, Russia, India, China and South Africa. In the meeting, Goyal stressed upon building trust among each other and expressed strong belief in small, achievable, incremental steps towards WTO (World Trade Organisation) reform.He said collective efforts of all the member countries are required to work in a trust-based open atmosphere through transparency and sharing information. “In this context, he expressed disappointment that even within BRICS membership, a few members had expressed concerns on transparency,” the statement said. According to the statement, there are concerted efforts to bring in non-tariff barriers through the use of non-science-based sanitary and phyto-sanitary measures to stall the collective efforts of the BRICS countries, which is the core of collaborative efforts for trade. “Our efforts to get the agreement amongst the members to be fair under the prevailing system, unfortunately did not bring in the desired result,” it said.He made it clear that unless trade and investment activities are carried out cooperatively in a transparent manner, it would not yield the desired results. On supply chains, Goyal said that trust and transparency are important factors for resilient and robust supply chains. On digital economy, the minister expressed “deep” concerns over deprivation of the access to virtual platforms, tele-medicine, distance education and e-payme
Source: Financial Express
To create a robust skill-centric and industry ready ecosystem in North-Eastern Region (NER), Union Minister for Education and Skill Development & Entrepreneurship, Shri Dharmendra Pradhan and Union Minister for Culture, Tourism & Development Of North Eastern Region (DoNER) Shri G. Kishan Reddy and Minister of State for Skill Development and Entrepreneurship, Electronics & IT today Shri Rajeev Chandrasekhar launched a special initiative ‘Transforming Lives, Building Futures: Skill Development and Entrepreneurship in North-East in New Delhi today. As part of the initiative, 2.5 lakhs youth of the NER will be provided with industry relevant skill training programmes through a wide array of schemes and initiatives, including Pradhan Mantri Kaushal Vikas Yojana (PMKVY), National Apprenticeship Promotion Scheme (NAPS) and Jan Shikshan Sansthans (JSS). The Government has earmarked a substantial fund of Rs360 crore to facilitate inclusive development, nurture entrepreneurial talent, and propel the socio-economic growth of the region. To fuel further growth, the concerted efforts are being made to provide vocational education and skill development programs to cater to the demand for skilled professionals across sectors, including agriculture, tourism, handicrafts, and information technology. Minister Public Health Engineering, Skill Development Employment & Entrepreneurship and Tourism; Government of Assam, Shri Jayanta Malla Baruah; MLA, Advisor to Labour, Employment, Skill Development & Entrepreneurship and Excise Department, Government of Nagaland, Shri Moatoshi Longkumer; Minister, Public health engineering and Water security, Water resources & River Development, Skill Development & Entrepreneurship, Government of Sikkim, Shri Bhim Hang Limboo and Secretary, Union Ministry of Skill Development and Entrepreneurship, Shri Atul Kumar Tiwari addressed the event. Speaking on the occasion, Shri Dharmendra Pradhan said that the program will create unprecedented skilling opportunities for the youth in line with their interest areas and lead to unlocking the potential of N-E youth. He also said that the north-eastern region of our country is abundant with natural resources and demographic dividend and with a whole-of-government approach, our government has worked to drive unprecedented development of the region. Today’s program will further give impetus to these efforts and lead to socio-economic transformation of the region, he further added. He also said that the Prime Minister Shri Narendra Modi has envisioned to make India developed and Aatmanirbhar and a robust skill development mission is essential to make this dream a reality. We are working to make India, the skill-capital of the world, he further added. Lauding the initiative, Shri G. Kishan Reddy said that this initiative of MSDE will benefit more than 2.5 lakh youth in phase one, which will make them job ready for domestic as well as international markets. This is yet another endeavour of Shri Narendra Modi’s government to make the NER the engine of growth. Shri Rajeev Chandrashekar said that over the past 9 years, our Prime Minister has worked relentlessly to create a conducive skill ecosystem by laying emphasis on education, skilling and innovation. We are now looking into the future with current trends that can shape our skilling strategies. We are one of the youngest countries in the world with a demography that is of great relevance to global economies, he added. With the tremendous number of new opportunities being created in both entrepreneurship and in jobs, the need for skills have heightened. Transforming Lives and Building Future is not just a slogan, this is a mission for our Young Indians of North-East. We believe that the future of New India is bright and skilling is the passport for prosperity, he further added. The Skill Development and Entrepreneurship in North-East initiative lays emphasis on alignment of courses with National Skills Qualifications Framework (NSQF), bolstered by a digital infrastructure to develop well-rounded professionals. The event also deliberated on the need of enhancing industry participation in aggregating skill demand, simplifying training modules, curriculum development and augmenting training infrastructure to upgrade their skill sets in ‘earn while learn’ mode.
The special Initiative of “Transforming Lives- Building Futures: Skill and Entrepreneurship Dev in North-East will include: a. 2 Lakh skill training under Pradhan Mantri Kaushal Vikas Yojana (PMKVY) b. 30,000 Apprenticeship Engagement under National Apprenticeship Promotion Scheme (NAPS) c. 20,000 to be skilled under Jan Shikshan Sansthans (JSS) d. Quality enhancement of ITIs under skill strengthening for industrial value enhancement (STRIVE) e. Strengthening of Polytechnics f. Special projects will be taken up for the special needs of North-East region under SANKALP. g. Skill India International Centre to be set up to promote overseas job opportunities. Over the last nine years, MSDE has increased the network count of ITIs to 106 in north-eastern region. It has trained over 3 lakh beneficiaries and assisted 1000 entrepreneurs through Indian Institute of Entrepreneurship (IIE). MSDE has also trained about 12 lakh candidates under Pradhan Mantri Kaushal Vikas Yojana (PMKVY) in textile, handloom, construction, apparel, agriculture, electronics and healthcare. The National Apprenticeship Promotion Scheme (NAPS) has facilitated training to 38,240 candidates across 1,693 establishments in the last 7 years in north-east. Moreover, the centre has achieved significant success in training more 98000 beneficiaries with more than 72% women beneficiaries across JSS which stands as a testament to creating a robust skill ecosystem in the northeast region, empowering youth with domain and employability skills.
Source: PIB
Prime Minister Narendra Modi recently said that India will become the world’s thirdlargest economy in the third term of his government (assuming the Bharatiya Janata Party-led National Democratic Alliance is re-elected next year). TOPICS #china #Covid-19 pandemic #growth rate #Long Story #Long Read German GDP in 2022 stood at $3.62 trillion, which was just a little better than its 2019 GDP of $3.60 trillion. Also, like the UK, Germany grew at a very slow pace in the pre-covid years—by 1.95% per year between 2009 and 2019. The size of the German economy is expected to contract in 2023 and barely grow in 2024. Even if Germany grows at 2% per year between 2022 and 2029 and India grows at 5.1% per year, India should be a bigger economy than Germany by 2029. Looking at how things stand currently, India’s chances of becoming the fourth largest economy in the world by 2029 are pretty good.
Source: Live mint
In recent years, India Inc has witnessed a shift in its awareness and prioritisation of sustainability and environmental, social, and governance (ESG) factors. As businesses become more conscious of their impact on the planet and society, they are adopting sustainable practices and integrating ESG considerations into their strategies. This shift is driven by a growing understanding that sustainable and responsible business practices not only benefit the environment and society but also contribute to long-term business success. Companies are realising that embracing sustainability and ESG is not only the right thing to do ethically but also a crucial factor in building resilience, mitigating risks, and creating value for stakeholders. The increased awareness of sustainability and ESG in India Inc will significantly impact talent hiring practices. As organisations align themselves with sustainable goals, they will seek to attract and retain talent that shares their values and commitment to sustainability. Companies will place a greater emphasis on hiring individuals who possess the skills and knowledge to drive sustainable initiatives and navigate the complexities of ESG regulations. Professionals with expertise in renewable energy, resource efficiency, ethical supply chain management, and social impact will be in high demand. Moreover, there will be a need for individuals who can integrate sustainability principles across different functions and levels of the organisation, driving innovation and fostering a culture of responsibility. The shift towards sustainable talent hiring will not only enable companies to meet their ESG goals but also enhance their reputation, attract investors, and stay competitive in a rapidly evolving business landscape. Increasingly sustainability professionals make a choice of working with organisations that demonstrate not only sustainability intent, visible but also where policies are proemployee. To land a job in sustainability, there are several qualifications that can be beneficial: Education: A relevant bachelor’s or master’s degree in environmental science, sustainability, renewable energy, environmental engineering, or a related field can provide a strong foundation of knowledge. Additionally, specialised certifications such as LEED (Leadership in Energy and Environmental Design) or other sustainability-focused certifications can be advantageous. Technical skills: Proficiency in data analysis, environmental modelling, and sustainability assessment tools is valuable. Knowledge of energy efficiency, waste management, water conservation, carbon foot printing, and renewable energy systems can also be beneficial. Industry knowledge: Understanding current sustainability trends, policies, and regulations is essential. Familiarity with sustainable business practices, circular economy principles, and green technologies to demonstrate expertise. Communication skills: Effective verbal and written communication skills are crucial for collaborating with diverse stakeholders, presenting ideas, and advocating for sustainability initiatives. Being able to convey complex concepts in a clear and concise manner is highly valued. Analytical and problem-solving abilities: Strong analytical skills will help you assess environmental impacts, identify areas for improvement, and develop sustainable solutions. Problem-solving abilities will enable you to tackle challenges and find innovative ways to address sustainability issues. Collaboration and leadership: Sustainability often requires working with interdisciplinary teams and engaging stakeholders from various sectors. Being able to collaborate effectively, influence others, and lead sustainability initiatives will enhance your career prospects. Balancing of attitude and aptitude is key to thriving in the field of sustainability.: Attitude: Having a passion for sustainability, a genuine commitment to making a positive impact, and a proactive mindset are crucial. Employers look for individuals who demonstrate dedication to sustainable practices, resilience in the face of challenges, and a long-term vision for a sustainable future.Aptitude: Demonstrating the required skills, knowledge, and expertise is equally important.Employers seek candidates who possess the technical competencies necessary to address sustainability issues effectively. The ability to learn and adapt to new technologies and evolving practices is also highly valued. Possessing the right qualifications, technical skills, industry knowledge, and communication abilities will open doors to opportunities. However, an enthusiastic attitude, passion, and commitment to sustainability are equally essential to drive positive change and contribute to a more sustainable world.
Source: Times of India
EW DELHI: For long, India was counted to be the top user of anti-dumping duty and often came under attack at the World Trade Organization (WTO). But for the last three years, the government has been very selective in imposing the duty even after the Directorate General of Trade Remedies (DGTR) investigations have established that the goods were being "dumped" into India. By its very definition, dumping is established when the price in the importing country is lower than the origin and causes or threatens to cause injury to the domestic industry. Between 1991 and August 2020, DGTR, a quasi-judicial body, had recommended imposition of anti-dumping duty in 1,039 cases and it was accepted into all but seven cases, resulting in a rejection rate of 0.7%, data compiled by Centre for Digital Economy Policy Research showed. But post-Covid, just when the government launched the Atmanirbhar Bharat campaign, this seems to have taken a drastic turn, with the finance ministry rejecting a significant chunk of the recommendations. Since August 2020, DGTR's "success rate" has dropped to 43% as only 61 of its 141 recommendations have been accepted, according to data accessed by TOI. 102550822 As has traditionally been the case, goods from China have been the biggest target of anti-dumping action. When it comes to the cases rejected by the revenue department, in over half - 43 of the 80 rejected cases - China was a subject country. The list included carbon black, caustic soda, flat rolled products of stainless steel, viscose spun yarn and polyester yarn. There were 23 cases - 29% share of the rejected cases - where China was the sole country whose producers were dumping goods into India, including tyre, amoxycillin, melamine and nylon tyre cord fabric, among others. So, why is the revenue department rejecting cases concerning Chinese producers, who are shipping goods that are causing damage to Indian industry, when one of the key themes is to prevent Indian industry from cheap imports from across the border? The official argument is that dumping duty, where the main focus is on intermediaries and raw material, pushes up the cost of the finished product and the finance ministry and Niti Aayog do not support the action across the board. Industry players, however, point out that in a large number of cases dumping will eventually wipe out domestic players.
Source: The Msn.com
We are far from realising our goal of manufacturing GVA reaching 25 per cent of the gross value added for the economy as a whole. This is despite several policy steps having been taken, such as: easing investment flow and access to technology, removal of capacity constraints, creating growth centres and industrial clusters, PLI and other measures. At constant prices from 2011-12 to 2021-22, manufacturing GDP has remained stagnant at around 17 per cent. At current prices it has gone down from 17.4 per cent to 14.5 per cent. We have a structural problem in manufacturing. Let us see why it is so.
Source: The Hindu Business line
Japanese investment firm SoftBank’s Indian portfolio startups — Zomato, Paytm, Delhivery, and PB Fintech — collectively contributed gains of over $400 million to the SoftBank Vision Fund (SVF) during the quarter ended June 2023. During the quarter, Paytm boosted the Vision Fund’s gains by $200 million, while Zomato and Delhivery each added $100 million to the fund, as indicated in SoftBank’s financial filings. However, there were no gains or losses recorded in the first quarter (Q1) from SoftBank’s investment in PB Fintech.In the previous quarter, which ended in March 2023, these four listed startups within SoftBank’s portfolio generated an additional $144 million for the Vision Fund. In the meantime, as of June 30, 2023, SoftBank’s SVF1 reported gross gains of $373 million from the parent company of insurtech firm PolicyBazaar, PB Fintech. The gain from logistics firm Delhivery reached $259 million by the same date.Continuing their contribution to the fund’s gross loss, Zomato and Paytm accounted for these losses. Zomato’s total loss contribution stood at $46 million, while Paytm contributed $335 million to SVF1’s losses. This represents an improvement on a quarter-on-quarter basis. Until March 31, 2023, Paytm’s overall loss contribution to SVF1 amounted to $526 million, and Zomato’s contribution was $131 million.This development coincides with food aggregator platform Zomato achieving profitability for the first time in (Q1) of 2023–24 (FY24). The company reported a consolidated profit after tax of Rs 2 crore for the quarter ended in June 2023, compared to a loss of Rs 186 crore in the same period the previous year. Revenue from operations for the Gurugram-based food delivery company exhibited a 71 per cent year-on-year increase, reaching Rs 2,416 crore in Q1FY24, up from Rs 1,414 crore during the corresponding period a year ago.SoftBank has progressively reduced its shares in Paytm, Delhivery, and Zomato through multiple rounds. The investment firm recently divested an additional 2 per cent of its stake in One97 Communications, Paytm’s parent company, for an estimated $180-200 million. This move resulted in SoftBank’s total ownership in the Indian financial technology (fintech) company falling below 10 per cent for the first time to 9.15 per cent. In a significant transaction, Paytm Chairman Vijay Shekhar Sharma is set to acquire a 10.3 per cent stake worth $628 million in the company he founded from a subsidiary of Chinese fintech giant Ant Group (formerly known as Ant Financial). This deal will make him the largest single shareholder.The holding of SVF in Zomato has declined from 3.36 per cent to 3.35 per cent since March. As of June, SVF held a 14.51 per cent stake in Delhivery, compared with 14.56 per cent in March. Despite SoftBank Group reporting an unexpected loss, its Vision Fund unit returned to profitability for the first time in six quarters. This was aided by an increased valuation for Arm, the chip designer poised for an upcoming initial public offering later in the year, as reported by Reuters.From April to June, the Vision Fund unit realised an investment gain of approximately 160 billion yen ($1.1 billion). Excluding the boost from Arm, the combined losses of the Vision Funds amounted to 13 billion yen. Overall, SoftBank recorded its third consecutive quarterly loss due to declines in the valuations of major investments, such as Alibaba Group, Deutsche Telekom, and T-Mobile US.The net loss for the company reached 477.6 billion yen ($3.3 billion), a reduction from the 3.16 trillion yen loss during the same period in the previous year, but a significant deviation from market expectations of a 75 billion yen net profit. Presently, SoftBank Vision Funds maintain a portfolio of late-stage and near-initial public offering (IPO) investments, including Arm, valued at over $37 billion. With optimism regarding a recovering IPO market, SoftBank anticipates significant future growth.Although some market turbulence has subsided, the company remains mindful of the ongoing geopolitical risks, such as Russia’s invasion of Ukraine and China’s foreign and domestic policies, which continue to present challenges. SoftBank stated that it is cautiously resuming investments to capitalise on opportunities in artificial intelligence and emerging technologies. Following a temporary halt, the Vision Fund invested $1.6 billion in the June quarter. However, this amount still constitutes a small portion of the fund's initial investments.“We believe it is the right time to cautiously resume investing,” said SoftBank. “The prevailing financial market conditions do not inspire much optimism, and we anticipate a potential downturn. However, our strong financial position at the end of 2021–22 gives us the confidence to adopt a balanced approach that encompasses both defensive and offensive strategies,” it added.
Source: Business-Standard
India and the US have held wide-ranging discussions on cross-border payments issues including G20 payments roadmap, India’s United Payments Interface (UPI) platform, and the Federal Reserve’s implementation of the FedNow payments system. The meeting was held on August 3 between senior Finance Ministry ofcials led by Chief Economic Adviser V. Anantha Nageswaran and the US Treasury Department representatives in New Delhi, as part of their second subministerial meeting following the 9th ministerial meeting of the Indian-US Economic and Financial Partnership (EFP) held in November 2022. The US delegation was led by Assistant Secretary for International Finance Brent Neiman, while representatives from the Reserve Bank of India and the US Federal Reserve in Washington DC participated virtually During the meeting, issues related to Indian and US priorities in addressing global debt challenges, joint efforts to advance the clean energy transition and mobilide climate nance, and the progress on creating innovative investment platforms to accelerate deployment of renewable energy projects, were also discussed, ofcial sources said. Both sides agreed to continue their collaboration and build on successful meetings that took place between Prime Minister Narendra Modi and US President Joe Biden during the former’s US visit in June this year.
Source: the Statesman
INTERNATIONAL
Indorama Ventures Public Co. Ltd., one of the world’s largest producers of recycled polyethylene terephthalate (PET) resin, announced the completion of the expansion of its recycling facility in Brazil, supported by a ‘Blue Loan’ from the International Finance Corporation (IFC), a member of the World Bank. The recycling facility, located in Juiz de Fora, Minas Gerais, Brazil, is increasing its production capacity from 9 thousand tons to 25 thousand tons per year of PET made from post-consumer recycled (PET-PCR) material. The project is part of Indorama Ventures’ Vision 2030 ambition to continue building a sustainable global company, including spending $1.5 billion to increase its recycling capacity to 50 billion PET bottles per year by 2025. PET is a unique and widely used plastic for water and soda bottles and the most recycled plastic in the world. Indorama Ventures, the world’s largest provider of recycled PET resin used to make beverage bottles, invested $20 million to optimize its Brazil facility’s processes and acquire new equipment such as washing machines to help remove labels, grind bottles in water and reduce water consumption by 70 percent. In November 2020, the IFC provided $300 million in Blue Loan funding to Indorama Ventures with the objective of increasing recycling capacity and diverting plastic waste from landfills and oceans in Thailand, Indonesia, Philippines, India, and Brazil — countries which are grappling with mismanaged waste and serious plastic waste in the environment. Blue Loan funds are certified and tracked for projects that support sustainable use of ocean resources for economic growth, improved livelihoods and jobs, and ocean ecosystem health. Indorama Ventures has secured a total $2.4 billion in long-term sustainable financing from various financial institutions between 2018–2022 to support sustainability projects. DK Agarwal, Deputy Group CEO of Indorama Ventures, said: “It is extremely gratifying to leverage the IFC’s generous funding to invest in important projects that build on Indorama Ventures’ industry leadership in sustainability. We are grateful to IFC for this blue loan reinforcing Brazil’s importance as a leader in sustainability, and which also recognize the excellence and potential of our recycling operations.” Carlos Leiria Pinto, IFC Country Manager in Brazil, said: “This is IFC’s first blue loan focused exclusively on combating marine plastic pollution. Working together with a global leader in this industry demonstrates the mutual commitment towards sustainability.”
Source: Textile World
Mushrooms Inc. is thrilled to announce a continuation of its mission to revolutionize the textile industry. The company is now in the final stages of filing a full patent application for its groundbreaking mycelium thread technology, representing a significant stride towards a more sustainable and ecologically conscious future while advancing science and technology. The unique characteristics of the mycelium thread position it as a transformative force across various sectors, spanning medical, military, aerospace, lifestyle, and environmental applications. Drawing from the natural properties of mycelium, coupled with ingenious elements, the textile exhibits inherent antimicrobial qualities and the ability for microbial detection. “This project showcases that holding to high environmental standards does not mean a sacrifice of technological advancements; in fact, it exemplifies the opposite. By working in partnership with nature, it gives back tenfold,” stated CEO Kimberly Carlson of Mushrooms Inc. While celebrating this pivotal moment, Mushrooms Inc. recognizes the importance of safeguarding its proprietary technology. In this phase, specific details and the intricate science behind the mycelium thread will remain confidential to protect its intellectual property and maintain a competitive edge. At the helm of this groundbreaking project is Dr. Hyder Ali Khoja, the senior lead scientist for the Myco Thread project, whose expertise and vision have been instrumental in unlocking the true potential of mycelium thread. Together with his exceptional team led by Maqsad Suriev, lead project chemist, they have achieved remarkable advancements that hold the power to revolutionize how textiles are produced and utilized, with profound environmental and functional advantages. “Dr. Hyder Khoja’s role as our senior lead scientist on this project has been indispensable in driving this innovation forward. His diverse accomplishments in science and collaborative dedication have combined to pave the way for the mycelium thread’s transformative impact,” Carlson said. Dr. Khoja expressed: “We have brought together many years of innovative research in a short time to bring forth a more groundbreaking textile than Mushrooms Inc. had expected when filing the provisional patent for mycelium thread. We have taken this textile innovation to a new level with microbial detection which we believe, coupled with the natural properties and therapeutic potential of mycelium, will revolutionize the medical sector on a global scale. Being customizable in its attributes allows for endless branches of innovation into vast sectors.” As the patent application undergoes regulatory review, Mushrooms Inc. actively explores strategic partnerships and investment opportunities that align with its mission. The company invites stakeholders, industry partners, and investors who share the vision of a greener, cleaner future to unite in bringing this transformative technology to market. As Mushrooms Inc. nears the final stages of full patent filing for its innovative mycelium thread technology, the company is strategically planning for its commercialization and global impact. The monetization strategy includes exploring licensing opportunities with industry partners to expand the adoption of this revolutionary textile across various sectors. Additionally, Mushrooms Inc. is committed to internal development, aiming to bring finished mycelium-based products to market under its brand. The company is also inviting first-use investors who share its vision of sustainable innovation to participate in early-stage funding, ensuring the mycelium thread’s rapid integration into the global market. By combining licensing, internal development, and strategic investment, Mushrooms Inc. aims to usher in a new era of eco-friendly textiles and environmentally conscious products for a better, greener world. Looking forward, Mushrooms Inc. envisions a world where textiles are not just commodities but customizable catalysts for a healthier planet. The company firmly believes that a sustainable future can be achieved through collaborative efforts with nature and a steadfast commitment to innovation.
Source: Textile World
Leaders from South American nations that are home to the Amazon challenged developed countries on August 8 to do more to stop the massive destruction of the world’s largest rainforest, a task they said can’t fall to just a few when the crisis has been caused by so many. Assembling in the Brazilian city of Belem, the members of the Amazon Cooperation Treaty Organization, or ACTO, also sought to chart a common course on how to combat climate change, hoping a united front would give them a major voice in global talks. The calls from the Presidents of nations including Brazil, Colombia and Bolivia came as leaders aim to fuel much-needed economic development in their regions while preventing the Amazon’s ongoing demise “from reaching a point of no return,” according to a joint declaration issued at the end of the day. Some scientists say that when 20% to 25% of the forest is destroyed, rainfall will dramatically decline, transforming more than half of the rainforest to tropical savannah, with immense biodiversity loss. “The forest unites us. It is time to look at the heart of our continent and consolidate, once and for all, our Amazon identity,” said Brazilian President Luiz Inácio Lula da Silva. “In an international system that was not built by us, we were historically relegated to a subordinate place as a supplier of raw materials. A just ecological transition will allow us to change this.” The two-day summit ending on August 9 reinforces Mr. Lula’s strategy to leverage global concern for Amazon’s preservation. Emboldened by a 42% drop in deforestation during his first seven months in office, he has sought international financial support for forest protection. The Amazon stretches across an area twice the size of India. Two-thirds of it lie in Brazil, with seven other countries and one territory share the remaining third. Governments have historically viewed it as an area to be colonized and exploited, with little regard for sustainability or the rights of its Indigenous peoples. All the countries at the summit have ratified the Paris Climate Accord, which requires signatories to set targets for reducing greenhouse gas emissions. But cross-border cooperation has historically been scant, undermined by low trust, ideological differences and the lack of government presence. Aside from a general consensus on the need for shared global responsibility, members of ACTO— convening for only the fourth time in the organization’s existence— demonstrated on August 8 that they aren’t fully aligned on key issues. This week marks the first meeting of the 45-year-old organization in 14 years. Forest protection commitments have been uneven previously and appeared to remain so at the summit. The “Belem Declaration,” the gathering’s official proclamation issued on August 8, didn’t include shared commitments to zero deforestation by 2030. Brazil and Colombia have already made those commitments. Mr. Lula has said he hopes the document will be a shared call to arms at the COP 28 climate conference in November. A key topic dividing the nations on August 8 was oil. Notably, leftist Colombian President Gustavo Petro called for an end to oil exploration in the Amazon— an allusion to the ambivalent approach of Brazil and other oil-producing nations in the region— and said that governments must forge a path toward “decarbonized prosperity.” “A jungle that extracts oil — is it possible to maintain a political line at that level? Bet on death and destroying life?” Mr. Petro said. He also spoke about finding ways to reforest pastures and plantations, which cover much of Brazil's heartland for cattle ranching and growing soy. Mr. Lula, who has presented himself as an environmental leader on the international stage, has refrained from taking a definitive stance on oil, citing the decision as a technical matter. Meanwhile, Brazil’s state-run Petrobras company has been seeking to explore for oil near the mouth of the Amazon River. Despite disagreements among nations, there have been encouraging signs of increased regional cooperation amid growing global recognition of the Amazon’s importance in arresting climate change. Sharing a united voice— along with funnelling more money into ACTO— could help it serve as the region's representative on the global stage ahead of the COP climate conference, leaders said. “The Amazon is our passport to a new relationship with the world, a more symmetric relationship, in which our resources are not exploited to benefit few, but rather valued and put in the service of everyone,” Mr. Lula said. Bolivian President Luis Arce said the Amazon has been the victim of capitalism, reflected by the runaway expansion of agricultural borders and natural resource exploitation. And he noted that industrialized nations are responsible for most historic greenhouse gas emissions. “The fact that the Amazon is such an important territory doesn’t imply that all of the responsibilities, consequences and effects of the climate crisis should fall to us, to our towns and to our economies,” Mr. Arce said. Mr. Petro argued that affluent nations should swap foreign debt owed by Amazon countries for climate action, saying that would create enough investment to power the Amazon region’s economy.
Source: The Hindu
Sizekick – a Germany-based technology start-up – has announced a new technology for fashion brands and retailers to reduce size-related returns in e-commerce. With the clothing technology know-how of the strategic partner and investor Hohenstein and the AI-based technology from Sizekick, more sustainable shopping in e-commerce should be made possible in the long term. This helps the industry to save CO2 emissions in the long term, as claimed by Hohenstein in its press release. The newly developed sizing AI has been implemented in the Swiss multi-brand shop for sustainable fashion, Rrrevolve – a premium outdoor brand Black Diamond from the USA, and Marc Cain. According to Hohenstein, the new AI-based sizing technology assists brands and e-tailers in adding value for both brands and consumers when shopping online by taking individual body measurements into account and recommending the right clothing size. Hohenstein’s expertise helps the Sizekick team to link the customer’s body measurements with the product properties. It’s worth mentioning here that Hohenstein is considered a leader in the area of size and fit and has been advising companies in the clothing industry for over 75 years. “The cooperation with Hohenstein has enabled us to draw on many years of knowledge in the field of clothing technology and thus to develop a highly precise and user-friendly solution,” commented Jake Lydon and David Oldeen who are the founders of Sizekick.
Source: Apparel Resources
Researchers from the University of Copenhagen have made a significant breakthrough in textile recycling by discovering a simple and effective method to separate polyester–cotton blends. This innovation could have a substantial impact on the fashion industry’s efforts to address sustainability and reduce textile waste. The team of scientists, led by Yang Yang from the Jiwoong Lee group at the University of Copenhagen’s Department of Chemistry, developed a process that employs a mild solvent, heat, and a common salt used in baking to separate polyester and cotton fibres in blended textiles. In their experiments, the researchers submerged scraps of polyester–cotton blend fabrics into ethylene glycol, a gentle solvent. They then introduced ammonium carbonate, commonly known as hartshorn salt, which is frequently used in baking for leavening bread. The mixture was subjected to a temperature of 160 degrees Celsius. The remarkable outcome of this process was the separation of cotton and polyester fibres into distinct layers within the solution. The success of this technique provides hope for its scalability and potential integration into larger-scale textile recycling operations. Currently, the difficulty in separating different fibres within these blends hinders the recycling process. This breakthrough method could revolutionise how blended textiles are handled, allowing for more effective recycling and reducing the environmental impact of textile waste. The research, led by Yang Yang, has been published in the journal ACS Sustainable Chemical Engineering. As the fashion industry and consumers alike continue to seek environmentally friendly practices, this innovative approach could play a pivotal role in advancing textile recycling and promoting a more sustainable future.
Source: Apparel Resources
Industrial hemp experts discussed opportunities in food, feed, farming, automotive and building materials at the South Dakota grand opening of the state’s first industrial hemp processing center near Madison, S.D., in Lake County. After five years of planning and working with South Dakota lawmakers on industrial hemp policy, Complete Hemp Processing opened its doors to around 200 farming neighbors and visitors from across the United States on August 3-5. A.H. Meyer & Sons, a fourth-generation South Dakota family-owned honey and beeswax processing business expanded into growing and processing hemp. Siblings Ken and JB Meyer and Melissa Shipley have set up the new facility in Winfred, S.D. “We want farmers in the area to know we are here,” said Ken Meyer. “They can grow industrial hemp and have a place for it to be processed.” The company has contracted with local farmers to grow the 1,600 acres of harvested hemp it will take to keep the facility running three shifts after the upcoming harvest. The company was also promoting John Peterson and his Wakonda, S.D.-based Dakota Hemp — another processing plant being installed about an hour away. The processors see themselves as collaborators building the new industry, not competitors. “We need at least another two processors in South Dakota to continue to keep up with farmers growing hemp,” Meyer said. After 80 years of US prohibition, industrial hemp, a non-intoxicating version of cannabis sativa, was re-legalized under the 2018 Farm Bill. Further rules for hemp are expected to be incorporated in the 2023-24 Farm Bill, including possibly lessening fees and restrictions for growing hemp for grain and fiber. Used by humans for 10,000 years, the hemp plant produces some of the world’s strongest natural fibers and its high-protein grain — sold as “hemp hearts” — is highly nutritious. Reintroducing the industrial crop into US agriculture has been challenging because of a lack of genetics and a 2019-2020 boom-and-bust CBD market that sidetracked the industry and alienated some US farmers.
Building Materials Hemp-lime building materials were used to build a sample wall in a “hempcrete” building workshop held by Texas-based hemp builder Ray Kaderli, president of the US Hemp Building Association. “The overarching theme here is for building and construction to be the demand for what’s being grown on a farm and processed in a facility like this,” Kaderli said. Hemp building materials are seen as plant-based alternatives that can help mitigate the large carbon footprint of the construction industry, which studies show contributes up to 38 percent of greenhouse gassesworldwide and takes up more than 25 percent of landfills. The Project PA Home insulated with spray-applied hempcrete in New Castle, Pa., was developed as a way for farmers to see their product in use for the building industry, said Philip Berezniak of DON Services. The project was supported by local universities, housing agencies, the Pennsylvania Department of Agriculture and private industry. “Collaboration has been the secret,” Berezniak said. Corbett Hefner of Monte Vista, CO-based Formation Ag and Global Fiber Processing presented aload-bearing hemp cinderblock under development from the University of Nebraska-Lincoln. A tiny fraction of the cinder block market would require hundreds of thousands of acres of hemp to be planted, Hefner said. Other hemp building materials made in the USA on the market include HempWood flooring and HempWool fiber batt insulation.
Decorticator facility toured Along with a tour of Horizon Hemp Seeds’ local hemp fields in Clark, S.D., Irish music and barbecue, the event featured the unveiling of Complete Hemp Processing Decortication System, which includes a Fiber Track 660 decorticator. The machine unbales hemp stalks and separates the outer long fiber bark (bast) from the inner woody core (hurd). Final outputs from the process include long fiber and short technical fibers used in textiles and nonwoven applications, hurd used for building materials, animal bedding and mulch and micronized dust used in plastics. “We talk about value-added agriculture, we talk about ways to grow ag, and we really talk about ‘how do we keep our kids and our grandkids here?'” said State Sen. Casey Crabtree. “To grow hemp in South Dakota and process it here creates opportunities for the next generation.” Stacked along the walls were bales grown by another lawmaker/farmer, Sen. Joshua Klumb, who worked with Crabtree and the South Dakota Industrial Hemp Association to eliminate barriers to growing industrial hemp in the state.
Acreage small, but growing in South Dakota Nationwide, the USDA National Agricultural Statistics Service’s count of harvested hemp acres dropped by 45 percent between 2021 and 2022 to 18,251 from more than 40,000, largely because of the crash of the CBD market. However South Dakota reported the highest hemp acreage harvested last year (2,550 acres) with about 3,000 acres planted this year, according to Derrick Schiefelbein of the South Dakota DANR.
Oil Seeds Keynote speaker Roger Gussiaas, founder of Carrington, N.D.-based Healthy Oil Seeds said he needed at least 6,000 acres of grain hemp to be harvested to achieve his goal of 40-percent growth. He encouraged farmers to branch out from a rotation of corn and soy. “I’d love to work with any of you that want to grow hemp for grain,” he said. “We want to buy your hemp, pay you well and add respect to that too.”
Animal Feed as pathway to commodity prices Bringing hemp prices down to compete with other commodities is a challenge at a small scale, said Andrew Bish, of Giltner, Neb.-based Bish Enterprises and Monte Vista, Colo.-based Global Fiber Processing. “Hemp can only be neat and cool for so long. There’s a timeline. The rubber has to meet the road,” he said. “The challenges really are regulatory. We can’t produce enough fiber and hurd to make that market really sustainable, it will have to exceed 2 to 3 million acres a year. If we don’t have more volume, you can’t go into the automotive industry.” Approval for animal feed is the secret to scale in the hemp industry, Bish said. He serves as president of the non-profit Hemp Feed Coalition. The majority of corn and soy grown in the United States, as well as other agricultural coproducts like brewers grains, go to the $415 billion animal feed market. High-quality proteins and Omega 3 and 6 oils found in hemp seed have been deemed “Generally Recognized as Safe” for humans since the 1990s, but are yet not approved for animal feed by the FDA. Hemp seed has long been approved for animal feed in Europe and Canada. Some hemp genetic strains are dual-crop, harvestable for both grain and fiber. The coalition has been working for three years on an egg-laying chicken application for hemp grain with the FDA. But costs to get a new ingredient approved for animal feed are high, about $250,000 per species. A handful of states have approved hemp for animal feed including Texas, Montana (for companion animals) and Oklahoma. University research is being conducted in New York, Kansas, Kentucky, Colorado, Oregon and elsewhere to help approve hemp seed for animal feed. “If you want to drive down those prices, we have to create an avenue to a market and the animal feed market is there. You don’t have to do much with the hemp seed to turn it into a product,” Bish said. “That’s really where the money is going to be in this industry when we can have those two streams of income.”
Agricultural Research Independent seed trials in 10 states last year sponsored by the Utah-based Global Hemp Association planted multiple certified and non-certified seed strains in different U.S. geographical regions. The data came in handy, said GHA founder Mandi Kerr, as industrial hemp advocates worked with federal lawmakers to encourage a “fiber and grain exemption” to remove barriers and slash licensing and testing costs for farmers growing hemp for industrial uses. In a self-described “pep talk” Morris Beegle, founder of We Are for Better Alternatives, acknowledged that the re-introduction of industrial hemp had a long way to go before it became a standard rotational crop in the United States, but said the plant provided an answer for challenging times in agriculture and society. “This extraordinary plant, long misunderstood and underutilized, possesses the power to revolutionize our industries, protect our and nutritional benefits for humans and animals, and drive positive change,” Beegle said.Automotive Industry The European automotive industry has used hemp fiber in car parts for decades, and that demand is still strong in Tennessee and the region where General Motors, Volkswagen, Nissan and Ford have developed large factories, said Frederick Cawthon, president of the Hemp Alliance of Tennessee. The hemp in the car that’s being manufactured right now at Mercedes Benz in Alabama “is being brought in from France,” Cawthon said. “Because we’re not doing a quarter of a million acres that they’re doing in Europe to support the industry right now,” he said. “There’s no reason we should not be producing that here … and we’re just talking about one segment, automotive.” Hemp Alliance of Tennessee and a coalition of regional universities and organizations were awarded $55 million in grant money in the USDA’s $3 billion Climate Smart Commodities program to help local farmers cover the costs of growing industrial hemp.
Source: Textile World
