INTERNATIONAL
NATIONAL
India’s technical textiles exports are expected to surge by leaps and bounds in the coming years as it has just begun to explore the segment, The Synthetic and Rayon Textiles Export Promotion Council (SRTEPC) Chairman Bhadresh Dodhia has said. “Among man-made fibres (MMF), technical textiles make up 30 per cent of the total exports. It is just the beginning for India and it will grow sharply,” he told businessline in an interview.
Vehicle to drive MMF Sports wear, fire retardant, geo-textiles, construction, agro-tech, industrial tech and home furnishings all use technical textiles with Germany accounting for 60 per cent of technical textiles pie. Technical textiles can be made stronger than steel and used in rockets. Dodhia said technical textiles can be the vehicle which can drive MMF exports. “Indian textiles exports are cotton-driven. Cotton makes up 60-65 per cent. This is in reverse to what is happening in the global market where MMF accounts for 70 per cent of total textile demand,” he said.
Vehicle to drive MMF Sports wear, fire retardant, geo-textiles, construction, agro-tech, industrial tech and home furnishings all use technical textiles with Germany accounting for 60 per cent of technical textiles pie. Technical textiles can be made stronger than steel and used in rockets. Dodhia said technical textiles can be the vehicle which can drive MMF exports. “Indian textiles exports are cotton-driven. Cotton makes up 60-65 per cent. This is in reverse to what is happening in the global market where MMF accounts for 70 per cent of total textile demand,” he said. The lower share in the textiles export basket is an opportunity and India could emerge as a “favoured” supplier of MMF, Dodhia said.
10% CAGR over past 5 years In the first quarter of the current fiscal, overall exports of technical textiles were $631 million compared with $678 million in the same period a year ago, down by 6.9 per cent. Geotech was the fastest growing segment in the quarter with 88 per cent growth followed by protective textiles with 63 per cent. The decline in technical textiles was one of the reasons why MMF shipments from the country declined by 14 per cent to $1,338 million. Over the past five years, the MMF demand has registered a 10 per cent CAGR after being stagnant during 2014-2018. “Indian consumers are waking up and therefore, there is significant growth. It is one reason why there is no drive for exports,” Dodhia said. Cotton exports are limited since there are only 7 million tonnes available and therefore, MMF will have to drive textile exports, he said. “Current government policies are extremely good as they are driven towards MMF. The productivity-Linked Incentive (PLI) scheme in MMF sector has been successful,” the SRTEPC Chairman said.
Kasturi-like brand The Ministry of Textiles has asked the association to come up with a brand that will represent MMF in the global market. “We are discussing this within our association and working out a plan to come out with a brand like Kasturi for cotton,” Dodhia said. Though crude oil prices determine the prices of MMF products, the rates are not as volatile as cotton. “Price fluctuations in MMF are minimum. And MMF is the only solution for textiles sustainability,” the SRTEPC Chairman said. MMF can be recycled and Prime Minister Narendra Modi wearing a jacket made out of waste plastic bottles has given the sector a new impetus. “Further boost has come through the uniform for legislative staff in the new Parliament building when the jackets are made of MMF,” he said. The Indian government need not handhold the textile sector, particularly when the PLI scheme has proved to be progressive. However, the sector is looking for a better duty structure to be competitive in the global market. “More free trade agreements with buying nations will help us increase exports. Otherwise, the industry does not have any demand,” Dodhia said.
Source: The Hindu business line
The Southern India Mills’ Association (SIMA) based in Coimbatore has stressed on the importance of a comprehensive strategy in the textile and clothing sectors to seize global market opportunities. They aimed to address structural challenges and boost global competitiveness, aligning with the efforts of the Indian Government towards the textile and apparel sectors. SIMA urged Union Minister of Textiles Piyush Goyal to exempt viscose staple fiber (VSF) imports under the Advance Authorization scheme, further expressing optimism about doubling exports through Free Trade Agreements (FTAs) with the EU and UK. S K Sundararaman, SIMA Chairman, highlighted in a press release, the industry hurdles such as raw material challenges, and high production costs. He emphasised SIMA’s role in intervening and assisting these structural challenges and expediting raw material strengthening and Government dues refund for sustainable growth. The press statement shed light on the delayed disbursement of incentives by some states, causing financial strain on new investments, despite offering attractive benefits. Sundaram stressed the necessity for a comprehensive, long-term vision to not only seize China’s vacated textile trade space but also ensure consistent growth. Additionally, SIMA officials in Coimbatore urged for exemptions on special and value-added fibre and filament imports that are not domestically manufactured.
Source: Apparel Resources
Textile processing units, which are undergoing a rough patch, have seen job work processing charges come down. Prices of coal and colour chemicals have significantly decreased despite fluctuations, also bringing down the average charges for the units by around 15%. For most Ahmedabad-based units, which are running at around 60% capacity due to low demand and high competition, this reduction brings good news. Gaurang Bhagat, president of Maskati Kapad Market Mahajan said, “Input costs have decreased so traders are now getting their job work done at lower prices. This is good for Ahmedabad’s processing sector because many traders place job work orders for rayon and polyester in Surat due to cost advantage.” Director of a leading textile processing house said, “Competition is high in this sector. Although there have been some fluctuations, overall, the prices of coal, lignite and colour chemicals have come down in the last six months. Around three months ago, coal accounted for 27% of our total cost, which has now come to around 23%. Similarly, colour chemicals prices are significantly down from their high three to four months ago.” Naresh Sharma, former vice president of Ahmedabad Textile Processors’ Association (ATPA) said, “Various units have made changes in processing based on their order flow. While input costs have come down, overall orders are low. So, to utilise capacities, some units have reduced their processing charges.” A senior official of the Gujarat Mineral Development Corporation (GMDC) said, “Domestic lignite prices have seen a decline in the past few months. In the last six months, prices are down to the range of Rs 800-Rs 1,300 per tonne for various mines. Currently, lignite from Mata no Madh and Umarsar costs Rs 2,770 per tonne and Rs 2,360 per tonne from Bhavnagar, excluding transportation cost.”
Source: Times of India
The Commerce Ministry is gearing up to host the fourth round of talks for a free trade agreement (FTA) between Thailand and the United Arab Emirates (UAE) in Bangkok this week, with the aim of concluding the negotiation process as soon as possible. Thailand is set to host the 4th round of negotiations for the Thai-UAE FTA, also known as the Comprehensive Economic Partnership Agreement (CEPA), during Sept 26-28. The goal is to expedite negotiations in line with the government's policy to promote international trade cooperation, said Auramon Supthaweethum, director-general of the Department of Trade Negotiations under the Commerce Ministry. This round will involve meetings of trade negotiation committees as well as sub-committees focusing on five key areas: trade in goods; trade remedies; Preliminary conclusions have already been reached by some of the subcommittees, such as customs procedures and trade facilitation, economic cooperation for micro, small and medium enterprises (MSMEs), intellectual property rights, investment, technical trade barriers, and sanitary and phytosanitary measures. According to Mrs Auramon, a preliminary study suggests that the establishment of the CEPA between Thailand and the UAE could lead to the expansion of Thai GDP ranging from US$318-357 million (11.1-12.4 billion baht) and an increase in overall exports by $190-243 million (6.65-8.5 billion baht). This expansion is expected in various sectors, including food, textiles and apparel, products made from animal hides, wood, rubber, chemicals, electrical and electronic appliances, as well as automobiles and parts. Additionally, it is anticipated that there will be increased transactions in key service sectors such as transportation, finance and business services. The UAE currently ranks as Thailand's sixth largest trading partner globally and first in the Middle East. During the first seven months of this year, bilateral trade reached $11.1 billion, with Thailand exporting goods worth $1.81 billion to the UAE and importing goods valued at $9.3 billion from the UAE. Key exports include autos and parts, air-conditioners and components, jewellery and gems, wood and wooden products, and rubber products. Significant imports from the UAE include crude oil, refined oil, natural gas, ores, metal scraps, gemstones, jewellery, and gold and silver bars.
Source: Bangkok post
India recently achieved a significant milestone in its entrepreneurial journey, surpassing 1 lakh registered startups under the Startup India initiative, according to Piyush Goyal, the Minister of Commerce and Industry. Speaking at an event in New Delhi, Goyal emphasized the remarkable growth of the startup ecosystem in India, which has seen the number of startups surge from 450 in 2016 to over 1 lakh in 2023, earning recognition from the Department for Promotion of Industry and Internal Trade. This achievement solidifies India’s position as the third-largest startup ecosystem globally. A recent response to the Rajya Sabha during the monsoon session revealed that Maharashtra, with 4,801 registrations, Uttar Pradesh, with 2,572 registrations, and Delhi, with 2,567 registrations, led the way as the top three startup hubs in terms of registrations in 2022. The data provided by Som Prakash, Minister of State in the Commerce Ministry, also indicated that 26,522 new startups were registered in 2022 under the Startup India initiative—a 32.6% increase from the 19,989 startup registrations in 2021. Furthermore, a report by Rao Inderjeet Singh, MoS Corporate Affairs, highlighted that there are over 3,000 fintech startups registered with the Department for Promotion of Industry and Internal Trade. Several other states, including Andhra Pradesh, Assam, Bihar, Chhattisgarh, Himachal Pradesh, Kerala, Madhya Pradesh, Odisha, Punjab, Rajasthan, Tamil Nadu, Telangana, Tripura, Uttarakhand, and West Bengal, also reported substantial growth in their startup ecosystems last year. However, despite the significant milestone, the Indian startup ecosystem has faced funding challenges in H1 2023. According to the India Tech semi-annual report 2023 by market intelligence platform Tracxn, there was a 72% decline in funding compared to H1 2022, with total funding amounting to approximately $5.5 billion—a significant drop from the $19.7 billion recorded in the first half of 2022. Early-stage funding rounds were also impacted, with a 44% decline in deployment compared to the previous half-year, amounting to $1.4 billion.
Source: startup story media
The event, held at India Expo Center and Mart from September 21 to 25, concluded this Monday with three lakh individuals attending the event and showing notable interest in the state’s handicrafts, garments, and electronics. Exhibitors were particularly pleased to secure over 75,000 B2B export orders. Over 200 stalls were put up at the show with the participation of approximately 300 women entrepreneurs hailing from various districts of Uttar Pradesh. Additionally, female entrepreneurs who had established their ventures under the Uttar Pradesh Rural Livelihood Mission were given a platform to display their items. On the event’s concluding day, distinguished guests such as Narayan Rane, Union Minister of MSME Ministry, graced the occasion. Also in attendance were Bhanu Pratap Singh Verma, Union Minister of State, MSME Ministry, Nand Gopal Gupta Nandi, Industrial Development and Export Promotion Minister of Uttar Pradesh, and Rakesh Sachan, Cabinet Minister of MSME and Khadi Textiles. During this event, Narayan Rane, the Union Minister of the MSME Ministry, Government of India, expressed his delight at the progressive atmosphere in Uttar Pradesh. He praised Chief Minister Adityanath Yogi for making this trade show the top-rated event thus far. Rane emphasized the ongoing development across various sectors in the state, envisioning Uttar Pradesh’s ascent to the position of the best state soon. He underlined the state’s pivotal role in achieving India’s ambition to become the world’s third-largest economy by 2030. Rane pointed out the shift in job dynamics, highlighting that the state’s residents, who previously sought employment elsewhere, now have promising opportunities within Uttar Pradesh due to its burgeoning industries and conducive environment. He commended the Chief Minister’s holistic approach to development in the state. On this occasion, Nand Gopal Nandi, Industrial Development and Export Promotion Minister of Uttar Pradesh Government said that Uttar Pradesh was moving towards becoming the best state in the country. In the UP Global Investors Summit held in February this year, roadshows were conducted in 17 countries, as a result of which the state received investment proposals worth Rs 36 lakh crore. He said that this trade show will prove to be a milestone in achieving the Chief Minister’s dream of making the state a trillion-dollar economy. Nandi said that the state is not only progressing rapidly in terms of domestic and international airports but is also ahead of other states in terms of expressways. Rakesh Sachan, the Cabinet Minister for MSME and Khadi Textiles, emphasized that this trade show marks a significant milestone in attracting investments to the state. He noted the enthusiasm witnessed during the event, stating that it has encouraged the government to commit to organizing it annually, foreseeing the positive impact it will have on investment in Uttar Pradesh. Meanwhile, on the opening day of UP International Trade Show 2023, September 21, the attendance was relatively sparse. However, as the event progressed, the number of attendees steadily grew. The second day saw 48,000 visitors, which surged to 70,000 on the third day. The fourth day witnessed a notable increase, surpassing 88,000 attendees. Finally, on the fifth and concluding day, the numbers exceeded 90,000 visitors. The largest crowd of people at the trade show was observed at the handicraft products stalls. Clothing stalls also garnered significant attention from visitors. Exhibitors capitalized on this demand by offering discounts on clothing sales. The event showcased glimpses of Uttar Pradesh’s rich social and cultural heritage, featuring exhibits on food, clothing, tourism, and prominent local products. Shaili, who reached the trade show with her handloom garments, said that she got a great platform to showcase her products through the international trade show. The best thing was that they also got a large number of international buyers.National Awardee craftsman Tarun Kumar Singh, associated with the pink enamel industry, said that for the first time, he has had a chance to display his products in such an organized manner. He said that while the sales were good, he also received orders worth around Rs four and a half lakh. Exhibitor Vikas Prajapati, who brought black pottery from Azamgarh, also talked about the good sales and orders. Apart from this, Ameesha from New Delhi, who reached the trade show, said that very unique items were being seen there. Ameesha purchased herbal products.
Source: Organiser .org
S&P Global Ratings on Monday retained India’s growth forecast for FY24 at 6 per cent on the back of good growth in April-June quarter. However, this is lower than all the recent revised forecasts and RBI’s estimate https://www.thehindubusinessline.com/economy/sp-global-ratings-retains-indias-gdp-forecast-at-6-for-fy-24/article67343568.ece#:~:text=S%26P Glob… 2/5 of 6.5 per cent. The agency has upped its inflation forecast for India by 50 basis points. S&P Global Ratings has estimated that India will grow at 6.9 per cent, 6.9 per cent and 7 per cent during FY25, FY26 and FY27, respectively. Notably, S&P Global Market Intelligence, a division of S&P Global, recently upped India’s growth forecast for FY24 to 6.6 per cent due to strong growth in the AprilJune quarter, up from the 5.9 per cent projected in August. The Organization for Economic Cooperation and Development (OECD) has raised India’s GDP forecast for 2023-24 to 6.3 per cent from 6 per cent projected earlier. Previously, Fitch Ratings raised its growth forecast to 6.3 per cent for the current fiscal year from 6 per cent . However, ADB lowered the growth to 6.3 per cent from 6.4 per cent. In its report titled, ‘Economic Outlook Asia-Pacific Q4 2023: Resilient Growth Amid China Slowdown’, S&P Global observed robust consumption growth in India along with Hong Kong, Indonesia, Taiwan, and Thailand. It also highlighted strong capital expenditure growth in India along with Australia, Malaysia and New Zealand. “Year-on-year GDP growth picked up in the second quarter in both developed and emerging Asian economies. ,” Louis Kuijs, Asia-Pacific chief economist at S&P Global Ratings said. Inflation outlook On Inflation, Kuijs said that the increases in global oil and food prices, combined with jumps in vegetable prices, raised consumer inflation by a large margin. It was 6.8 per cent in August, above the Reserve Bank of India’s upper tolerance limit of 6 per cent. “While we see the vegetable price inflation as being temporary, we have revised up our full fiscal year consumer inflation forecast for India to 5.5 per cent from 5 per cent earlier,” he said.
Source: The Hindu business line
Many industrialists and business stakeholders affiliated to Tamil Nadu Industries Electricity Consumers Federation staged a hunger strike at Palanganatham in Madurai on Monday to protest increase in electricity charges. RM Lakshminarayanan, president, MADITSSIA, took part. J James, president of the Federation, who took part in the hunger strike, said several micro, small and medium enterprises are reeling from the impact of hike in electricity consumption charges especially during morning and evening peak hours. Many units were forced to shut down because of the unprecedented increase in the electricity tariff. The one-day statewide token strike by the industrialists caused job loss to 80 lakh workers and resulted in production loss amounting to Rs 9,000 crore and Rs 2,500 crore as loss of revenue to the government. Around eight lakh MSME units remained shut across the state, he said Despite repeated demands from the stakeholders through similar protests in Coimbatore, Tirupur, Erode on September 9 and emails and speed posts en masse to Chief Minister MK Stalin and Electricity Minister Thangam Thennarasu on September 14 for reducing the electricity charges, which increased by 430 per cent, the state government did not listen to our concerns. There were big expectations among the stakeholders from the CM’s statement for reduction in electricity charges, but it only led to more disappointment. If the government did not respond to this hunger strike, entrepreneurs in all districts across the state would wear black badges and meet Collectors on October 9 for a solution to electricity concerns and if the demands were not met, then members of all federations of trade and industry would go on hunger strike in Chennai on October 16, the president said. R Gopi Palaniappan, joint secretary, Knit Cloth Manufacturing Association, Tirupur, said knitwear manufacturing is a continuous process and units require electricity round the clock and to offset increasing peak hour cost pressure, gensets were made operational as an alternative. Despite this, manufacturing costs increased by 25 per cent. A year ago, Rs 3,000 was paid as electricity fixed charge, but now such charge has skyrocketed to Rs 17,000, he added.
Archana new MSME Secretary In a minor bureaucratic reshuffle, the state on Monday transferred state Industries and Commerce secretary and appointed her as the secretary of state MSMEs Department. An order issued by Chief Secretary Shiv Das Meena said that Archana Patnaik, Industries Commissioner and Director of Industries and Commerce is transferred and posted as secretary to government, Micro, Small and Medium Enterprises Department, replacing Arun Roy. L Nirmalraj, Director of Geology and Mining, has been transferred and posted as Industries Commissioner and Director of Industries and Commerce. Commissioner of Civil Supplies Pooja Kulkarni has been transferred and posted as commissioner of Geology and Mining. Har Sahay Meena, Principal Secretary/Commissioner of Rural Development and Panchayat Raj has been transferred and posted as Principal Secretary/Commissioner of Civil Supplies and Consumer Protection the order said.
Total in Ranipet; owners sceptical of today’s meet Ranipet District Small and Micro Industries Association, Ranipet District Tiny and Small-scale Industries Association, Kamaraj Micro Industries Association, BHEL Ancillary Association, BHEL Suppliers Association, Arakkonam SIDCO Industrial Estate Manufacturers Association, Ranipet Saw Mill Owners Association and the Amoor Rice and Paddy Merchants Association members participated, in the one-day token strike sources said. A visit through the SIDCO industrial estate in Ranipet revealed all industries remaining closed while the owners used the time to catch up with their pending accounts work. In this connection, industries director Archana Patnaik has called for a meeting with the industrialists from Hosur, Erode, Chennai, Coimbatore, Tiruchy, Thoothukudi and Salem at the Chennai SIDCO Corporation office under the chairmanship of MSME Minister Thangam Thennarasu on Tuesday, sources said. However, miffed entrepreneurs said, “We expect nothing to come out of the meeting as already we have attended three meetings with the present Minister and two more with the then Minister Senthilbalaji. There is no proper planning and outcomes of the regulatory commission are not adhered to as the state representative does not say much.” Western region units lose several crores Over 50,000 Micro, Small and Medium Enterprises (MSMEs) in Coimbatore region downed shutters against power tariff hike by the state government resulting in a production loss of several crores on Monday. Black flag was hoisted on clusters of industrial units located in Kurichi, SIDCO, Ganapathy and Edayarpalayam areas across Coimbatore. The industrialists also took out a rally to the Collectorate and as well as to the Tangedco office to submit petitions seeking a roll back of the power tariff hike. They claimed that industrial units would be forced to shut down permanently if the hike is not revoked. As many as 352 coir units spread over in Pollachi and its surrounding areas halted work causing a business loss worth over Rs 10 crore. “Coir units are levied peak hour charges, even if they do not function during the monsoon. Already, the coir units are struggling to survive due to poor global economic conditions. More than one lakh workers were rendered jobless and Rs 10 crore worth business has been hit due to strike,” said Sudhakar, president of Coir Pith Manufacturers Association. In Erode, over 20,000 MSMEs downed shutters causing a loss in business for Rs 500 crore. Several sectors, including oil mills, textile units, concrete block manufacturing units and industries took part in the protest.
Source: The dtnext.in
INTERNATIONAL
The global textile industry is taking significant strides towards sustainability, with a growing number of manufacturers embracing eco-friendly practices to reduce their environmental footprint. As a part of this global movement, the Taiwan textile industry is proud to announce its commitment to sustainable textile manufacturing. Sustainability has become a core focus, driven by the growing awareness of the impact that the textile industry has on the environment. Through innovative practices and responsible sourcing, there are Taiwan manufacturers dedicated to making a positive change in the industry. The following Taiwanese textile manufacturers showcase innovative sustainable products. Honmyue: Presenting new sustainable outdoor mesh fabrics from discarded windshields, and mono-material polyester fully recyclable fabrics. The collection of recycled PVB material is collected from post-consumer recycled windshields of discarded vehicles and pre-consumer recycled scrap from safety glass factories. PVB has excellent weather resistance, making it the perfect alternative to PVC. Recycled PVB is coated with polyester core yarn to ensure dimensional stability. These fabrics are PVC-free and comply with the EU REACH regulation. The collection of mono-material polyester is the reclaimed fibres are derived from post-industrial textile waste and post-consumer recycled PET dope-dyed yarn, avoiding the dyeing process to effectively reduce wastewater and energy consumption. With the PET-coating creates a mono-material, making products easier to refurbish or recycle and aligning with the principles of a circular economy. Singtex: Presenting the concept of Null encompasses net zero carbon emissions and zero waste. A circular economy that supports textiles to textiles recycling is essential. SINGTEX® REFITTM is a textile-to-textile recycling program that targets end-of-life 100% polyester garments. Through a depolymerization process, SINGTEX® REFITTM gives old clothes a new life. Design it right the first time, is the backbone of sustainability. Explore ONE series products including ONESHELLTM and ONELASTEXTM. ONE products are mono-material, allowing for easier end of life recycling. High-performance fabrics do not require a complicated mix of materials. Simple is beautiful, simple to the core means easier recycling. SunnyTex: Solapel™ is PFC-free durable water repellent technology. It can maintain 70% efficiency even after 120 washes, equivalent to 24 hours of continuous washing. Solapel™ minimises the contamination of chemicals into the environment by maintaining most DWR chemicals on the textile after laundering. Solapel™ is an excellent water repellent collection because it can provide a high contact angle and surface tension for a fabric’s surface. Solapel™’s water repellency performs effectively even after 120 times washing, which equals 24 hours of continuous laundering.Tiong Liong: ARIAPRENE® environmentally friendly recycled composite material is a breakthrough achievement for Tiong Liong. During the production of ARIAPRENE®, a significant amount of production waste is generated. Through years of research and testing, successfully recycles and repurposes these materials, extending the product’s lifecycle and achieving resource reuse. ARIAPRENE® can be self-recycled, not only excels in performance but also complies with the EU’s REACH Substances of Very High Concern (SVHC) regulations, remaining free of the 200 restricted harmful substances listed in the regulations. It is hypoallergenic and meets the demands of modern consumers for environmentally friendly products. It can be combined with other functional textiles, such as water repellency, breathability, and moisture-wicking, to meet the diverse functional needs of brand customers.
Source: Eco textile
A delegation of Italian textile machinery companies will attend the 2023 edition of TITAS TAIPEI, which will be held in Taipei, Taiwan, from October 17 to 19, 2023. Taiwan is a very promising market for the Italian textile machinery industry, especially in the innovative sectors of technical textiles and nonwovens. In 2022, Italian exports to the Asian country exceeded the value of 17 million euros, and in the period January-June 2023, the value has already reached 7 million euros. The attention for the Taiwanese market has led ACIMIT, the Association of Italian Textile Machinery Manufacturers, and Italian Trade Agency to set up a pavilion at the upcoming edition of TITAS TAIPEI. Six Italian textile machinery manufacturers, all ACIMIT member companies, will exhibit in the pavilion: Ferraro, Danitech, Lgl, Ms Italy, Reggiani, Unitech. At the upcoming TITAS TAIPEI, therefore, visitors will be introduced to Italian technology, once again a key player in the textile production process.
Source: Textile world
Furthering its commitment to continuous innovation and providing sustainable solutions for diverse needs across the value chain, Hyosung will introduce a unique offering of certified sustainable materials, which it will present at Performance Days Munich, Kingpins Amsterdam, and Functional Fabric Fair Portland this fall. Creating a more powerful, traceable sustainable story, Hyosung is expanding its creora® BioBased spandex offering to include various options for the yarn to be made with a higher content of renewable resources. Hyosung was the first company to commercially introduce USDA and SGS-certified creora® Bio-Based spandex made with 30% renewable resources in 2021, which has been successfully adopted by leading global brands. According to an independent 3rd party LCA, the manufacture of 1kg creora® Bio-Based spandex reduces its carbon footprint by 20% as compared to the production 1kg of conventional spandex. “We are very excited to follow the success of our creora® Bio-Based spandex with a second phase of third-party certified fibres made with a higher content of renewable resources to meet consumer demand for traceable, bio-based products,” said Simon Whitmarsh-Knight, Hyosung Global Marketing Director – Textiles. “Customers will now have the opportunity to select the option that meets their needs.” At Performance Days and Functional Fabric Fair, Hyosung will also present new innovations in its GRS-certified, 100% post-consumer recycled regen Ocean nylon made from discarded fishing nets. The company recently collaborated with Dimension-Polyant, the world’s largest sailcloth producer and manufacturer of durable X-Pac® waterproof laminates developed for packs and bags, who has adopted the fibre in the construction of its best-selling X-Pac® VX21 Black – a four-layer laminate that’s rugged, flexible, and waterproof. “We are proud Dimension-Polyant, a company who shares our passion for the ocean, has selected our 100% recycled regen Ocean nylon made from discarded fishing nets in its X-Pac® laminate collection,” said Roman Park, Hyosung Performance Leader – Nylon and Polyester. “I believe that collaboration along the supply chain is how great products are created and we are thrilled that Dimension-Polyant has joined our growing number of valued partners who’ve adopted our specialty fibers.” At Kingpins Amsterdam, a trade show devoted to the denim community, Hyosung will present new innovations with its creora® 3D Max spandex – for denim you want to live in. Hyosung’s creora® 3D Max spandex delivers high-performance stretch and recovery with a very small portion of spandex content uniquely allowing the garment to be recycled. Anticipating denim brand needs, Hyosung has added the following creora® 3D Max spandex offerings to include sustainable and functional version of the fibre that matches the same performance and recyclability benefits as conventional creora® 3D Max spandex. They include USDA and SGS-certified creora® Bio-Based 3D Max spandex, RCS certified, 100% recycled creora® regen 3D Max spandex made from industrial waste, and creora® Easy 3D Max spandex that provides soft power, excellent stretch and is recyclable. “As a complete sustainable textile solutions provider, we are proud of our ability to continually innovate and offer materials that support our customers’ sustainability needs,” said Whitmarsh-Knight. To help product developers and designers conceive garments made with its innovative yarns, Hyosung will present a broad assortment of multi-function fabrics and concept garments developed by its Fashion Design Center (FDC) at each show.
Source: Textile world
Textile-Based Delivery, Inc., is pleased to announce the sale of its revolutionary Nufabrx retail brand to Tallayne Holdings. After the tremendous success of this first product line, the company has launched Clothing 2.0 (www.Clothing2.com) to exclusively support the growing number of partnerships across health and wellness, apparel, drug delivery, and textile sectors. Jordan Schindler, founder and CEO of Textile-Based Delivery, Inc., and team of science, textile, and regulatory experts will expand the reach of its smart-textile platform to partners and consumers globally. Clothing 2.0 (C2) is the future of health and wellness. The only company in the world that infuses consistent doses of medicines, vitamins, and supplements into yarns that create laundry-safe, reusable healing garments and textile products. This category of products, called HealthWear, gives the consumer better control of their health and wellness just by getting dressed. “It’s simple: the biggest problem in modern health and wellness is consumer compliance. As we have seen with the Nufabrx brand, clothing is the perfect vehicle to help solve everyday health problems – it contacts our skin all day every day. Creams and patches have been helping consumers for centuries; clothing is the obvious next step to deliver OTC ingredients to the body,” explained Jordan Schindler, founder of Nufabrx and CEO of Clothing 2.0. “Clothing is one of the oldest industries in the world, nearly unchanged for millennia; it’s time to leave version 1.0 behind.” Companies across various sectors see the opportunity that the convergence of textiles, medicine, and wellness offer their customers. Seeking to partner with Clothing 2.0, these companies desire to differentiate their products for their consumers by safely delivering active ingredients to the body via skin contact with textiles. Clothing 2.0 manufactures its ingredient-infused yarns within its 20,000 sq. ft. USA clean room and University testing facilities. Its patented, state-of-the-art drug delivery system provides partners with a library of proven OTC and cosmetic ingredients, across garment types and textile substrates. Clothing 2.0’s partnership model easily integrates with a partner’s existing supply chain to rapidly drive new market innovations. Its on-staff production, regulatory, and support teams guide partners through development and go-to-market. To date, Clothing 2.0’s platform technology has reached consumers with over one million partner products sold in over 15,000 retail locations. Through a selective partnership process, the products entering the market are true game-changing innovations for consumers.
Source: Textile world
Bangladesh's cotton garment exports to the USA can grow by $400-800 million annually if the US government waives duty on exports of apparel made from cotton imported from America, said a researcher at a seminar in Dhaka on Monday. At the same time, through such a facility, the US can also export $3 billion worth of cotton to Bangladesh in the next five to six years, said Mohammad Abdur Razzaque, research director of the Policy Research Institute (PRI) on Monday. Speaking at a seminar on Bangladesh–US trade and investment, organised by the Economic Reporters' Forum (ERF) at its auditorium in Dhaka, Razzaque said, "A cotton GSP scheme is a special scheme that the US can take for Bangladesh to allow duty-free export of garment items made from American cotton to the American market." Over the last few years, the local garment suppliers and the government have been negotiating with the American authorities for a 15.62% duty waiver to be permitted on the garment items exported to the USA made from imported cotton from America. Bangladesh's apparel exports to the US market were $9.75 billion in 2022, of which cotton apparel export value stood at $6.91 billion, according to data from the Office of Textile and Apparels (Otexa). Razzaque, who is also chairman of Research and Policy Integration for Development (RAPID), a private think tank, continued that this scheme is a lowhanging fruit for both countries, which means if the government of the two countries want they can implement it easily. It will be a win-win for both. Only the sky is the limit for attracting investment from the USA in different sectors in Bangladesh, said Masrur Reaz, chairman of Policy Exchange of Bangladesh, a private think tank. Urging a reinstating of GSP status for Bangladesh, Faruque Hassan, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), stated that the cotton GSP scheme will be a win-win situation for both countries as local millers import 11.5% of the total nine million bales of required cotton from America. Bangladesh has a lot of scope to explore the US markets as the local suppliers can meet 9.7 percent demand of the total import of apparels by the USA in a year, he continued. "I hope the US will consider the revival of the GSP as Bangladesh has complied with the 16-point Bangladesh Action Plan provided by the US government to Bangladesh for GSP reinstatement," Hassan said. Mohammad Ali Khokon, president of Bangladesh Textile Mills Association (BTMA), informed the seminar that currently Bangladesh imports 20% of required cotton from India. John Fay, commercial counsellor of the US Embassy in Bangladesh, said there is a possibility of reducing the duty on export of garment items to the USA from Bangladesh. However, he did not elaborate on the matter. Fay mentioned some challenges to investment in Bangladesh, such as problems with profit repatriation, intellectual property rights, data protection act and challenges of logistics services. There is a big investment potential for the US in healthcare, ICT and education, Fay added. He suggested that Bangladesh improve in labour rights, labour law reforms and freedom of association for reviving the GSP, which lapsed in December 2020. The US Congress has not taken up any new scheme until now. Now in terms of getting it back, the GSP is a potential future option and DFC (The US International Development Finance Corporation) financing is a potential future option and a signal that Bangladesh is back being attractive as an investment market, Fay continued. ERF President Mohammad Refayet Ullah Mirdha chaired the seminar, which was moderated by its General Secretary Abul Kashem.
Source: The TBS news
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) recently demonstrated a strong interest in exporting readymade garments to Nepal and underscored the significance of fostering collaboration between the two nations to unlock mutually advantageous opportunities. This is as per reports, which maintained that during a meeting at the BGMEA Complex in Dhaka recently, a visiting delegation from the Himalayan kingdom, representing the Ministry of Industry, Commerce, and Supplies, highlighted the investment potential in Nepal and presented a range of investment opportunities to prospective investors. The delegation, led by Baburam Gautam, Director General of the Department of Industry in the Government of Nepal, engaged in discussions with the BGMEA President Faruque Hassan. The discussions encompassed a wide array of topics, including Bangladesh’s thriving readymade garment industry, its future prospects, and the strategic vision for its sustained growth. Faruque Hassan provided insights into Bangladesh’s commitment to diversifying its garment export markets and ongoing efforts to explore new export destinations. During the meeting, both parties expressed a strong willingness to collaborate and work together to realise mutual benefits, as affirmed by BGMEA.
Source: Apparel resources
The Committee for the Implementation of Textile Agreements has announced the fiscal year 2024 (Oct. 1, 2023, through Sept. 30, 2024) limits on duty- and quota-free imports of apparel articles assembled from regional and third-country fabric under the African Growth and Opportunity Act. Apparel articles entered in excess of these quantities will be subject to otherwise applicable tariffs. For apparel articles wholly assembled in one or more AGOA beneficiary countries from fabric wholly formed in one or more beneficiary countries from yarn originating in the U.S. or one or more beneficiary countries, the FY 2024 limit is 1,830,796,723 square meters equivalent (down 22.2 percent from FY 2023). Of this amount, 915,398,361 SME (also down 22.2 percent) is available for apparel articles imported under the AGOA third-country fabric provision, which provides preferential treatment for apparel articles assembled in one or more lesser-developed beneficiary countries regardless of the country of origin of the fabric used.
Source: Strtrade
Jordan Brand and J Balvin re-collaborate for an exceptionally clean apparel collection designed for those seeking tranquility and style. This collection offers a well-curated selection of clothing, blending elevated basics with eye-catching pieces. The standout item in this collection is the Men’s Woven Pants, featuring a comfortable yet tapered fit, available in black and tan, these pants are made from woven twill and include two utility pockets at the back. The Men’s Woven Jacket combines and shares the same colour options as the pants. The collection boasts an oversized fit, ensuring a bold fashion statement with Fleece Hoodie in a pastel gradient, inspired by Medellin and Colombia’s vibrant sunsets. Balvin’s hometown sunsets also inspire the Men’s Sweater, offering a subtle nod in sky blue with Jordan’s classic elephant print. Completing the collection are two Jordan and J Balvin tees, available in black and white, curated by Balvin himself.
Source: Apparel resources
As clothing seller Hendri Tanjung struggles to hawk his tunics to Indonesian buyers outside his market shop, he says customers are turning to cheaper versions on TikTok, pummelling his income. The 35-year-old sells his wares at Tanah Abang, Southeast Asia's largest textile market, where sellers are desperately calling out to passersby. The market in the capital Jakarta is less crowded than usual, with some outlets shuttered, as many of its thousands of merchants selling products made in factories or by tailors and weavers complain about the impact of TikTok's booming e-commerce arm on their business. "We want the government to close TikTok Shop, or at least regulate them. I feel bad for my employees," said Tanjung. Indonesians spent more money on the Chinese-owned app than anywhere else in the region over the past year, as TikTok Shop rapidly gained a substantial regional market share and millions of sellers since its 2021 launch But government ministers in Southeast Asia's biggest economy have threatened to ban the app outright because of its impact on local sellers, including those at Tanah Abang who rely on offline buyers.
Source: The barrons.com
