The Synthetic & Rayon Textiles Export Promotion Council

MARKET WATCH 11 AUGUST 2023

 

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INTERNATIONAL

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China dumping fibre ahead of upcoming quality control order’

The textile industry is concerned that Chinese exporters are dumping cheap bre and polyester in India ahead of the implementation of a quality control order (QCO) on a range of textile input materials, Brij Mohan Sharma, joint managing director, Rajasthan Spinning & Weaving Mills said. While bigger players have welcomed the QCO, micro, small and medium enterprises that lack a resilient supply chain are heavily dependent on imported raw material and are facing the double whammy of slowing exports and a raft of standards imposed on the industry “Cheap quality imports from China are being dumped into India. There is a difference of ₹5-7 per kg in case of polyester fibre. The Chinese are aggressively dumping bre into India knowing full well that the government will come out with standards from 1 October. People in the commodity segment who are not having a dedicated supply chain will feel the pinch of it. But when you talk about the value addition quality control order is necessary. We have taken it up with the ministry of textile, " Sharma said in an interview. Sharma said policy makers must focus on the cotton value chain that is the core strength of Indian textile industry.

Source: Live mint

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Indo Count Industries Ltd witnesses slight fall in net profit

Indo Count Industries Ltd (ICIL), one of the leading bed linen manufacturers, has witnessed a slight fall in its net profit for the first quarter of the current fiscal. Total income of the company was Rs. 747 crore in Q1 FY ’24 compared to Rs. 722 crore in Q1 FY ’23 and profit after tax was Rs. 74 crore in Q1 FY ’24 compared to Rs. 77 crore in Q1 FY ’23. The sales volume for Q1FY ’24 stood at 20.03 million meters compare to 19.10 million meters in Q1 FY ’23. Regarding FY ’24, volume guidance of 85-90 million meters is on track. Anil Kumar Jain – Executive Chairman said, “We have laid a strong foundation and are optimistic on the future. Going forward, as we capitalise on the demand in our largest market, we expect this to replicate in other geographies. Global economy is improving & the upcoming festive season is expected to fare better. With our capabilities and capacities along with the right product offerings Indo Count is on track to benefit from the growing opportunities in the home textile industry.” The company claims to be the largest exporter of bed linen with 153 million meters capacity and is strongly of the opinion that operating leverage will play out in the upcoming years.

Source: Apparel Resources

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Tagging genuine exporter as 'risky' to hurt exports; set up committee to look into issues: Report

Tagging a genuine exporter as "risky" will hurt India's exports and an interministerial committee comprising representatives from finance and commerce ministries is required to consider all aspects before branding them under this category, a report said on Thursday. Exporters are identified as "risky" based on specific risk indicators based on customs, GST (Goods and Services Tax), income tax and DGFT (Directorate General of Foreign Trade) data. The identified risky exporters' information is shared with the central GST formations for physical and financial verification. Economic think-tank Global Trade Research Initiative (GTRI) said that the Central Board ofIndirect Taxes and Customs (CBITC) has announced procedures for handling such cases yet no timeline is adhered to. The legitimate exporters bear the brunt due to the prolonged verification process and excessive documentation requirements before the issue is sorted, it said. It claimed that the government has declared many genuine firms with substantial export performance as "risky" exporters and stopped payment of their dues and makes them follow "lengthy" customs procedures. "This demoralises genuine firms and will dissuade them from exporting," GTRI Co-founder Ajay Srivastava said. The rule is implemented by the CBITC whose drive to catch firms doing fake GST transactions ended up hurting many genuine exporters, the report said. While the government is making plans for USD 2 trillion in exports, the issues at the field level need more sensitivity in handling. "CBITC brands many exporters as risky exporters even though they never had any direct business transactions with the alleged fraudsters," the report alleged. Citing an example to explain the CBITC process, it said firm 'A' does business with firm 'B' and entity 'B' does business with company 'C', which is also an exporter. If CBITC suspects any wrongdoing by 'A', it may declare 'C' as a risky exporter even if 'C' never did any business with 'A'. "The steps that follow such branding have the potential to destroy all business of the exporter," Srivastava said. Once CBITC brands an exporter risky, it stops all refunds for Integrated GST, Drawback, and RODTEP (Remission of Duties or Taxes on Export Products) and other benefits. "This starves the firm of most working capital," he said, adding, due to this branding, each consignment of that exporter undergoes exhaustive examination at the CFS (Container Freight Station). "This results in firm spending more money and time delays. On-time shipments become uncertain. For an exporter handling 20 consignments monthly, significant monetary losses are inevitable. The exporter is unjustly treated as a criminal," he said. The report also said that less than 10,000 firms contribute to over 90 per cent of India's exports. "Government must hear them before taking extreme step of branding them as risky exporter. An inter-ministerial committee with representatives from Ministries of Finance, Commerce, and industry may be constituted which should consider all aspects before declaring an exporter as risky. All cases must be reviewed quickly," it said. Despite no fault of their own, exporters hesitate to complain, fearing future harassment and ineffectual outcomes, it added. "No communication happens with exporter while classifying him as risky. Many times, when consignment reaches the port or refund is delayed, exporter is generally informed by his CHA (custom house agents) that he/she has been tagged as risky at such stage," the report said.

Source: Economic Times

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Textile and apparel industry’s deep route in sustainability flourishing constantly

India has long upheld values of environmental stewardship, waste reduction and a strong belief in the well-being of humanity. However, these principles were gradually eroded over time due to the rise of commercialisation, industrialisation and consumerism. Now, there is a renewed focus on sustainability. All stakeholders in the textile and apparel industry, from cotton farmers to garment manufacturers, retailers, start-ups, NGOs, government bodies, technology companies, solution providers and consumers, are joining forces with a common agenda—to promote sustainability and protect our planet. Companies acknowledge that sustainability is not only their legal obligation but also a moral responsibility. However, whether they engage in sustainable practices out of compulsion or genuine morality is a separate matter that sparks debate. Concurrently, there are growing concerns about ‘greenwashing’ or ‘greenhushing’ (fashion retailers being particularly scrutinised in lawsuits related to misleading environmental claims). Government agencies such as state pollution control boards and the National Green Tribunal (NGT) are actively enforcing regulations. Additionally, stakeholders throughout the supply chain are pushing each other to embrace sustainable practices. Internationally, initiatives like the United Nations’ Sustainable Development Goals (SDGs), Conference of the Parties (COP) sessions, and efforts by organisations like Fashion for Good, Science Based Targets and the Green Building Initiative (GBI) are making significant strides. Overall, the Indian textile and apparel industry is recommitting itself to sustainability, with concerted efforts from various stakeholders at both national and international levels. McKinsey’s report The State of Fashion 2023: Holding onto growth as global clouds gather underlines that as the industry continues to grapple with its damaging environmental and social impact, consumers, regulators and other stakeholders may increasingly scrutinise how brands communicate about their sustainability credentials. If brands want to avoid being part of greenwashing, then they must show that they are making meaningful and credible changes while abiding by emerging regulatory requirements. The report also underlines that inflation is the greatest threat while sustainability presents the biggest opportunity to the fashion industry in 2023.

Sustainable steps by the Indian textile and apparel industry Top companies like Shahi Exports, Pearl Global, Eastman Exports, Aquarelle and Laguna India (part of CIEL Textile Group), Pratibha Syntex, Reliance Retail, Aditya Birla Fashion Retail, Arvind, Vardhman Textiles, Welspun, Trident have taken lead role towards initiating and implementing several programmes to work for people, planet and profitability. Few of them have made it a part of their annual agenda to release their sustainability reports which include extensive details about their targets, efforts and achievement in sustainability. Nearly all of them are using renewable energy and are actively into water conservation, worker welfare, giving back to society and much more. Shahi Exports has a target to achieve 100 per cent renewable electricity by FY 2026 which is currently 68 per cent, while for carbon-neutral energy, its aim is 50 per cent by FY 2026 (currently 35 per cent). Leading apparel exporters Aquarelle and Laguna India have also achieved LEED Platinum certifications for two of their six factories. Eastman Exports has successfully converted 41 per cent of coal-based energy sources with biomass. It also uses Recycled Claim Standard (RCS)-marked recycled cotton and has reduced fibre wastage by up to 30 per cent in the production process. Arvind Ltd., is also committed to reducing the weight of plastic packaging by 5 percent by 2025 compared to the baseline of 2022. Gurgaon-based Afflatus International is saving energy through LED lights direct driver machines and steam discharge from its boilers is reused after condensation. It works extensively with organic fabrics and is certified under GOTS, Sedex, Smeta, OCS, ISO 14000, ISO 9001, Higg Index. The company envisaged ‘conscious fashion’ to help discover solutions for sustainability. There are a few apparel manufacturers, brands and labels that are using alternate fabrics, be it hemp, banana, bamboo etc. Anandhi Texstyles, Tirupur is known for its recycled natural fibres of banana, aloevera, Indian hemp, areca etc.

Source: Textile World

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5 most critical tech tools SMEs must adopt right away to streamline growth

Modern-day practices have made it mandatory for small businesses to adopt technology to keep up with the pace of the ecosystem. By streamlining processes, automating jobs, and lowering manual errors, it improves efficiency. Small businesses can reach a worldwide client base by utilising internet platforms, adopting technology and growing their reach. Better data management and analytics are made possible by digital tools as well, supporting wise decision-making and individualised customer experiences. In the end, digitization equips small firms to maintain their competitiveness, change with the times, and promote sustainable growth. However, small and emerging businesses are often not sure about what business tools they need to invest in, considering the market they operate. Since there are a lot of options available, here are the five most essential digital tools to invest in, which can optimise the value and output, as well as cut down the turnaround time, and help with simplifying the compliances for small businesses. Productivity Management Tools assist you in centralising task planning, deadline setting, and progress monitoring. Consider them like online to-do lists that help you stay motivated and organised. Additionally, these apps provide insights and reminders to help you remain on top of your job and utilise your time effectively. Nikita Vora, Automation Coach, Founder and CEO of SMM Unleashed, told FE Aspire, “Productivity Management tools not only help to ensure optimal and increased business productivity but they give added guarantees of better work quality, customer service and effective collaboration & communication. Additionally, SMEs can overcome their marketing budgetary and resource constraints with the marketing and outreach tools. They help to level up the playing field while also helping out carrying effective promotion.” Productivity management tools to check out: RescueTime, Shift Process automation tools

By using process automation tools, you can avoid doing repetitive tasks. Process automation tools can work independently on the computer to complete replicable chores, saving you time and effort. These gadgets carry out your orders, such as sending emails or organising files, just like a robot would. By letting the tools handle the tedious tasks, you can concentrate on the interesting and significant aspects of your business. “Digital presence has become an imperative for our times, streamlining promotional efforts and enhancing accessibility for buyers. Moreover, it facilitates seamless collaborations among businesses that share similar target audiences. This isn’t limited to just the domestic landscape but extends globally as well. Transitioning from a local approach to a global reach is best achieved through a robust digital presence,” said Deepak Toshniwal- Global Business Strategist, Founder, Global Business Community, SNOW in a conversation with FE Aspire. Process automation tools to check out: Zapier, Scribe

Invoicing and accountancy tools Invoice and Accounting Tools make it easier for you to monitor your financial transactions. You may develop and send clients expert invoices to ensure that you are paid on time. Additionally, these programmes calculate taxes, expenses, and earnings for you so you can concentrate on expanding your business rather than crunching figures. In a conversation with FE Aspire, Arun Poojari, Co-founder and CEO of Cashinvoice said, “Technology has been instrumental in empowering and fostering economic growth of the SMEs. e-invoicing, for example, has digitised and automated the process from raising invoices to routing and approving the same. As the processes are recorded, corporates are liable to make payments on a timely basis to SMEs and hence, solve their working capital issues.  This progressive shift simplifies intricate compliances, establishes a robust defence against fraud, facilitates meticulous data accounting, and enables the seamless orchestration of businesses from a distance.”  Invoicing and accountancy tools to check out: Razorpay, Cashinvoice Marketing tools

Marketing tools aid in getting the word out about your goods or services to the appropriate audiences. These technologies let you make eye-catching advertisements, control social media posts, and monitor the number of individuals who are considering your offer. When it comes to increasing brand recognition and interacting with clients online, they act as your sidekick.  Chirag Taneja, co-founder & CEO of GOKWIK, stated to FE Aspire, “SMEs especially those in the eCommerce industry can greatly benefit from tools that help them create two-way communication between them and their potential shoppers. By enhancing communication, streamlining marketing efforts, and automating processes on WhatsApp, brands can engage with shoppers in real-time, provide personalised shopping experience, create segmented marketing campaigns and optimise workflows, ultimately growing their revenue, profitability and brand loyalty.” Marketing tools to check out: Zoho, Salesforce Starter Communication Tools

Communication tools make it possible for teams to work together in real-time, regardless of distance, and they promote effective information sharing. These tools support efficient remote communication by utilising a variety of media, such as email platforms, video conferencing tools, and instant messaging programs. Digital communication solutions boost productivity and guarantee cohesion of involvement within the modern company landscape by enabling quick and safe contact. Shraddha Subramanian- Intuition Expert, Business Coach, Founder and CEO of Sparkling Soul, told FE Aspire, “SME’s teams need the effective communication tools for it absolutely does the handshake in the right manner for saving the precious resources of the business which are at stake because of the communication gap. Having right and timely communication with prospects and customers is essential for the growth of the business.”

Source: Financial Express

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MSME Idea Hackathon 3.0: MSME Minister Narayan Rane invites women entrepreneurs to apply for up to Rs 15 lakh assistance

Women entrepreneurs: MSME Minister Narayan Rane has invited women entrepreneurs including women innovators and women-owned MSMEs to apply for the MSME Idea Hackathon 3.0. Rane urged women entrepreneurs to apply for the hackathon for access to financial assistance up to Rs 15 lakh. The hackathon was opened for applications in June this year and the last date for application was August 10. “Last chance to apply for MSME Idea Hackathon 3.0. Calling women innovators & women-owned MSMEs: Your groundbreaking ideas can give you a chance to secure financial assistance of up to ₹15 lakhs,” Rane said on X (formerly Twitter).The hackathon 3.0 is being conducted under the MSME Innovative Scheme by the MSME Ministry. The financial assistance of Rs 15 lakh will be provided per idea, through host institution chosen by them. For the implementation of the scheme, the institutions approved for the scheme will be supported by the Office of DC-MSME. The hackathon invites ideas from the field of the services sector, agriculture sector, healthcare sector, power sector, and miscellaneous sectors.Stage one of the hackathon will include the submission of ideas to the host institutions who will shortlist meritorious ideas and forward them to the ministry. For evaluation, the institutions will create a group of three to five panellists with industry expertise. Stage two will include the ministry screening the ideas selected by the institutions to check for relevant and appropriate information, obligatory conditions as per the scheme guidelines, and check for ideas with incomplete/incoherent information. The screened ideas will be forwarded to the Domain Expert Selection Committees (DESCs).The DESCs will constitute domain experts from the industry, one expert from the MSME DFO, and one member from the program division for all five domains: services sector, agriculture sector, healthcare sector, power sector, and miscellaneous sectors. The DESCs will evaluate ideas and will recommend them to the PMAC (Project Monitoring and Advisory Committee) for final approval. The PMAC will then approve the ideas and grant the financial support as per the guidelines of the scheme.

Source: Financial Express

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Technical talks on India-Peru Free Trade Agreement start

Technical teams of India and Peru have started negotiations on the modalities and scope of the proposed Free Trade Agreement (FTA) which will lay down the basis of negotiations. India and Peru had first started negotiating an FTA in 2017 and five rounds of talks had been held till August 2019 before COVID pandemic disrupted the process. “We are going to talk again about that (the modalities). Due to the pandemic many things changed so we want to replan additional modalities and our technical teams will hold that conversation,” Vice Foreign Trade Minister of Peru Teresa Stella Mera Gomez said in a recent interview to FE. She said the technical teams would also be defining the timeframe, and formal negotiations would start in the next few months.“We would like to have a very pragmatic process. The proposed agreement will at least deal with trade in goods and services. If areas like investments are to be made part of it will be decided by the technical teams,” she said. India-Peru trade in FY 23 was $ 3 billion. While India’s imports from Peru were $ 2.2 billion, exports stood at $ 865 million. India’s main exports to Peru include automobiles, motorcycles and three-wheelers, polyester and cotton yarns, pharmaceuticals, iron and steel products, plastic products, and tyres. Main imports from Peru are gold, copper, synthetic filaments, phosphates of calcium, fresh grapes, fish flour and blueberries. The minister said Peru’s main interests are in exporting agricultural products like fruits and vegetables like avocados, fresh grapes, blueberries and natural resources like gold, copper and calcium phosphates. Most of the blueberries that are sold in India are sourced from Peru. “In manufactured products also we are interested in finding space in India.” She said Peru has trade agreements with all major economies like the US, EU, China and Japan and is also a member of the Comprehensive and Progressive agreement for Trans-Pacific Partnership.“We are not competing in the same product. Our economies are complementary, that is very helpful in the negotiation process,” the minister said. Peru is also seeking Indian investments. “We are in the centre of South America and we are developing a new port at Chancy (80 km north of Lima). It is going to be ready next year and would be able to take in bigger ships and reduce the time to connect with Asian countries. That could be an opportunity for Indian business to manufacture products there,” Gomez said. “We want Mahindra, Tata and all the Indian brands doing business in Peru. Indian automobiles, two-wheelers, and three-wheelers are very well known there, Bajaj is there, TVS is there. We need to have your products (manufactured) there in order to compete with the rest of the countries we are importing from.” Peru taxes imports of auto at 18%. She said foreign companies in Peru face no discrimination tax incentives for investments are decided on a case to case basis. Peru also provides free trade zones where Indian companies can manufacture. Some Peruvian companies also have a presence in India AJE Peru has an Indian subsidiary that makes soft beverages. A major Peruvian company, Resemen S.A.C., which specialises in mining machinery, has opened a subsidiary in India by the name of Reliant Drilling Ltd. Several other mining services companies of Peru have set up operations in India such as Opermin and AAC Mining Executors. Lubricants major Vistony has set up a plant in India.

Source: Financial Express

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Ballari moves step forward for jeans textile park

Ballari, a leading jeans manufacturing hub in Karnataka can get its jeans textile park as the State Government has issued a directive to identify suitable land for this park. In a meeting, Chief Minister of the state Siddaramaiah instructed his colleagues from Ballari to locate appropriate land for the creation of the jeans textile park. Additionally, they were tasked with preparing a Detailed Project Report (DPR) for the initiative. Ballari City MLA Nara Bharath Reddy said that “Under the guidance of the Chief Minister, we have been directed to prepare a DPR and identify appropriate land within Ballari city for the proposed textile park.” It is worth mentioning here that during the state elections, senior Congress leader Rahul Gandhi had committed Rs. 5,000 crore for the establishment of an apparel park in Ballari. He has also visited some jeans manufacturing units in Ballari during the Bharat Jodo Yatra. Vinayak Rao, President, Bellary Garment Manufacturers Association (BGMA) said that the textile park could revive the industry.

Source: Apparel Resources

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Beyond ARJUNA’s eye . RBI holds repo rate as inflation pressure persists; imposes I-CRR to drain liquidity

The spike in vegetable prices, uncertainties on domestic food price outlook due to sudden weather events and firm crude oil prices prompted the six-member Monetary Policy Committee (MPC) to unanimously vote to keep the policy repo rate on hold even as the Reserve Bank of India revised its FY24 inflation forecast upwards. The central bank also prescribed maintenance of incremental cash reserve ratio (I-CRR) by banks to drain out excess liquidity from the banking system.

Source: The Hindu Business Line

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Monetary policy: RBI to prescribe framework to reset floating rate loans

Concerned about loan-repayment periods becoming unreasonably long, the Reserve Bank of India (RBI) will put in place a transparent framework for resetting interest rates on floating-interest loans such as home loans. The regulator asked banks to define a reasonable period, keeping in mind factors like age and the repayment capacity of borrowers. Supervisory reviews, feedback, and references from the public have revealed instances of loan repayments becoming unreasonably long and without proper consent from borrowers or communication to them at that, the RBI said. All regulated entities will implement a proper conduct framework to address the issues faced by borrowers. Detailed guidelines in this regard will be issued shortly, the RBI said in a statement on “Developmental and Regulatory Policies”. This statement accompanies the monetary policy review. Rajeswar Rao, deputy governor, said the regulator had discussed this with chief executives of banks and “we have conveyed our concern and what action we expect them to take”, he said in a post-policy media interaction. The RBI is not considering defining “unreasonable elongation”. It is something the boards (of banks) will have to consider, with regard to the tenor and the repayment capacity of individual borrowers. “It is up to the board to decide what a reasonable tenure is. Increasing that beyond a particular period would be deemed unreasonable. It is left to the individual institutions … we will not do it,” Rao added. In a similar vein, Governor Shaktikanta Das said this was something banks would have to assess, taking into account the payment capacity of the borrower and how long his payment capacity lasted. Banks will also have to take into consideration the age factor. Also it is necessary to avoid unduly long elongation, which sometimes may camouflage an underlying stress in a particular loan. Therefore, the extension of tenor has to be for a reasonable period. “We don’t want to define it. It is a commercial decision of banks, which they and their boards will have to assess,” the governor said. Two senior private-bank executives said the RBI’s message was based largely on instances of mortgage loans, which are essentially longterm. During the rising interest-rate environment, lenders stretched repayment periods rather than increasing equated monthly instalments.

Source: Business-Standard

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INTERNATIONAL

Devan’s R-vital NTL Unlocks New Possibilities For Textile Manufacturers, Achieving A Durability Of 50 Washes

Devan, part of Pulcra Chemicals, has announced a significant breakthrough with their R-Vital NTL technology. Achieving a remarkable durability of 50 washes, Devan’s bio-based and biodegradable well-being technology is set to revolutionize the textile industry. R-Vital NTL enables textile manufacturers to boost textiles with a versatile range of microencapsulated active ingredients. This innovative functional finish provides added value for textiles and allows manufacturers to create unique products that differentiate them from competitors. The main concept behind micro-encapsulation is that active ingredients, present on textiles, are gradually released on the skin. When using the textiles or while wearing the clothing, the microcapsules burst by friction and release their assets. Since not all capsules break at the same time, a continuous and gradual release of the actives is obtained. The natural range comprises five distinct products, each with specific attributes: Aloe vera: Known for its skin-smoothing and softening properties. Avocado seed oil: Known for its skin-moisturizing capabilities. CBD: Known for its relaxation properties. Multivitamin: A blend of provitamin D, vitamins C and E, and ginger. Vitamin E: Known to offer protection against free radicals and premature aging. Devan’s groundbreaking achievement with R-Vital NTL showcases their dedication to innovation in specialty chemicals. This development promises to reshape the textile landscape and elevate the quality of textiles across the industry.

Source: Textile World

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BGMEA joins hands with Solidaridad to achieve 2030 ESG goals together

At the official complex of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) situated at Uttara, in the capital Dhaka, the garment makers’ body and the Solidaridad Network Asia have formally entered into a memorandum of understanding (MoU), even as this strategic agreement aims to synergise their efforts in various areas including worker welfare, skill development, productivity enhancement, the establishment of a digital sustainability reporting platform, and the attainment of ESG (Environmental, Social, and Governance) standards and international corporate diligence. This is as per reports, which added the ultimate goal of this collaboration is to advance the apparel sector towards sustainability and environmental responsibility, aligning with the BGMEA’s Sustainable Strategic Vision for 2030. The collaboration will particularly focus on equipping factory workers and mid-level managers with skills pertinent to the Fourth Industrial Revolution (4IR), promoting environmentally friendly workspaces, and placing a strong emphasis on empowering women even if this empowerment will be facilitated through the implementation of training programmes aimed at developing supervisory skills. Furthermore, both organisations will jointly advocate for the adoption of energy-efficient business models. This advocacy will also involve creating and sharing position papers as well as enhancing the capabilities of BGMEA member factories through collaborative consultations. Within the framework of this partnership, BGMEA and Solidaridad will leverage their expertise to implement EU due diligence protocols, with a specific emphasis on the Dutch and French derivatives of such practices.

Source: Apparel Resources

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UK retailer John Lewis boosts AI capability with Google deal

The John Lewis Partnership has launched a £100 million partnership with Google Cloud to provide customers with more tailored and personalised experiences. The collaboration hopes to elevate its in-store and online shopping experiences by making this change as the next phase of its digital transformation. Additionally, the deal will help the John Lewis Partnership achieve its goal of improving customer relations by establishing a pan-Partnership loyalty programme in 2024. More of the partnership’s technology will transfer to Google Cloud during the course of the five-year contract, utilising its cutting-edge and most inventive technologies, including highly developed artificial intelligence and machine learning. The tools will improve the partnership’s efficiency and enable it to spend more time concentrating on its clients while also better utilising data insights to help with product and service curation. Nish Kankiwala, CEO at the John Lewis Partnership, said, “Investing in cutting edge technology is not just a choice, it’s a necessity for a modern retailer like us.”

Source: Apparel Resources

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Munich-based sewts raises € 7 million to simplify manual labour for the textile industry

German industrial automation startup sewts, closed a € 7 million round of financing. Emerald Technology Ventures, CNB Capital, EquityPitcher Ventures, and Nabtesco Technology Venture led a funding round with additional investors. sewts also secured additional funding from current investors Bayern Kapital, APEX Ventures, and HTGF. Sewts will quicken the roll-out of the sewts with the increased cash.VELUM systems expand into new markets, such as the processing of clothes returns via e-commerce, and are used by worldwide laundries. sewts’ innovative method of fusing AI, robotics, and material simulation enables the first autonomous handling of textiles while also giving robots human-like vision and gripping abilities. Alexander Bley, Co-Founder and CEO at sewts, said: “Our long-term vision is a “moonshot” idea – to revolutionise the production of textiles. To get there, we first dedicate ourselves to the most promising niche markets and then approach the big vision step by step.” sewts is creating more use cases for the textile production life cycle in response to the market’s unparalleled need for automation solutions. In addition to being necessary to address the labour shortfall, the new technology will also help advance global climate goals and safeguard human rights.

Source: Apparel Resources

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AATCC Foundation Announces Graduate Scholarship Recipients

Students, the application for 2024- 2025 scholarships opens November 1. The application for research support grants is open now through October 15! Visit www.aatcc.org/foundation/#grants for more information about funding for your research.

Grady, Hauser, Houser, Daniels Fellow This is a $3,500 fellowship for PhD candidates in Fiber and Polymer Science at the North Carolina State University Wilson College of Textiles. Morgan Gilbert, PhD, Fiber and Polymer Science, North Carolina State University

Connelly-Perkins Fellow PhD candidates at the Clemson University Department of Materials Science and Engineering (MSE) may apply for this $3,500 fellowship. Travis Wanless, Graduate, Materials Science & Engineering, Clemson University

Kanti and Hansa Jasani Family Textile Scholars Indian students attending a US university are eligible for one of three $1,000 Jasani scholarships. This year, the awards went to the two graduate students listed below and one undergraduate. Akanksha Pragya, Graduate, Fiber and Polymer Science, North Carolina State University Kavyashree Mruthyunjaya Swamy, Graduate, Textile Design, Thomas Jefferson University.

More Scholars This year, AATCC Foundation is providing scholarships to about 25 students at 8 universities in programs ranging from fashion design to materials engineering.

Source: Textile World

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