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Textile processing units in Ahmedabad have been grappling with dwindling order volumes for nearly a year. High input costs and limited orders have left these process houses operating at just 60% of their capacity. But, these units have recently begun embracing innovative technologies to navigate these challenging waters. Naresh Sharma, former VP of the Ahmedabad Textile Processors’ Association, said, “The cotton price volatility has impacted the entire value chain, making traders wary of holding significant inventories. This leads to fewer orders. “Around 50 process houses have purchased or placed orders for these machines in the past three months. These digital machines, mostly imported, cost between Rs 45 lakh and Rs 2.50 crore and can print orders as small as 4,000m.” P R Kankariya, chairman of Anupam Creation Pvt Ltd in Narol, said, “We probably installed the first digital printing machine in Ahmedabad five years ago. The machine offers better results in terms of quality, a key requirement in the export market, so more companies are adopting this technology.” Aniket Agrawal, director of Prem Process House, stressed the need to adopt new technology due to rapidly changing fashion trends and intense competition in the market. We also published the following articles recently Despite being India's first UNESCO World Heritage City, the Ahmedabad Municipal Corporation (AMC) has failed to conserve the heritage houses in the walled city. Out of the 25 heritage buildings categorized as dangerously dilapidated, 10 have collapsed in the last two years, with the rest being ignored. The AMC has categorized 237 buildings as 'dangerous', and 136 of them have either collapsed or been demolished. Only 57 buildings have been restored under the heritage property restoration policy, leaving many heritage properties at risk of being lost. Lack of interest from AMC officials and the conversion of heritage houses into commercial-cum-residential buildings are contributing factors to the deterioration of heritage properties. Local residents should be involved in decision-making processes regarding the conservation of heritage properties. The National Medical Commission (NMC) has cancelled admissions to 141 seats in private colleges conducted at the institute level in the state of Maharashtra. The NMC deemed the admissions invalid, as they were conducted in violation of a directive issued in July. The decision has raised concerns for the future of the affected students. The state medical education department plans to request the NMC to reconsider the decision, while a petition on the matter is pending in court. The 'Kabul House' in Dehradun, once owned by the ruler of Afghanistan, has been a source of conflict between residents and the district administration. The property, designated as 'enemy property' after the descendants of the Afghan royals left the country, has been the subject of a legal battle for over four decades. The district magistrate has now ordered the families living there to vacate within 15 days, citing illegal encroachment. The families claim to have valid ownership documents and are planning to approach the high court.
Source: Times of India
Government’s economic policy think tank Niti Aayog has initiated a study on how to reduce dependence on Chinese imports and reduce trade gap with the northern neighbour while simultaneously rolling out the process of identifying at least 12 sectors which have the potential to transform the country into a manufacturing hub. Study on China is part of the bigger process to align India’s trading strategies with emerging geopolitical situations and political risks to safeguard supply chains. In certain industries China is central to certain supply chains that raises its vulnerability during crisis situations.Apart from building local manufacturing capabilities to reduce Chinese dependence, the study will also examine the global trade flows to recommend how India may diversify its imports to other trading partners in specific product categories. The Niti Aayog has invited bids from consultants to lead the two studies in areas of reducing trade gap with China and boosting local manufacturing. Last day of submission of the two bids is 7th November While the two studies will be conducted separately their areas overlap. The group examining ways to reduce trade deficit with China will have to identify product categories where India has comparative advantage to scale up exports to China. The study will also examine tariff and nontariff barriers, regulatory ecosystem and market access concerns for Indian exports to China. The China study group will also have to recommend key policies to boost domestic production and productivity in sectors not only to reduce the trade deficit with China but also to capitalise on global supply chain shifts. Analysis of the type and quantum of foreign investment which may bridge the technology gap and utilise the abundant domestic manpower for competitive products will alos be the part of the study. India’s trade deficit with China is increasing each passing year. In FY 23 it touched $83.1 billion from $53.5 billion in FY 19. Last year, of the total trade deficit of India, China accounted for $263 billion, China’s share was 32%. India largely imports capital goods from China, followed by intermediate goods, consumer goods and raw materials. The objective of Research Study on sectors for India to be a global manufacturing hub is to identify the sectors with most significant opportunities by analysing future trends in manufacturing, industrial capabilities, infrastructure, policy framework, and market potential. The study will analyse at least 12 sectors and their future trends.It will also assess the infrastructure requirements, including transportation, logistics, power supply, and digital connectivity, for each identified sector. Policy framework, including regulatory environment, tax structure, trade agreements, and ease of doing business, relevant to manufacturing in India will also be examined. Manufacturing accounted for 14.7% of India’s Gross Domestic Product in 2022-23 and has been languishing around this figure for the past decade despite many efforts made to increase it to 25%. To boost manufacturing there have been numerous efforts and policy intervention in the past. Now the flagship scheme for the purpose in Production Linked Incentive scheme with an outlay of Rs 1.97 trillion for 14 manufacturing sectors.
Source: Financial Express
India’s gross domestic product (GDP) is expected to rise to USD 7.3 trillion by 2030 and it will surpass Japan to become the second largest economy in the Asia-Pacific region, S&P Global Market Intelligence said in a recent article. By 2030, India’s GDP is also forecast to surpass Germany. At the end of 2022, the size of Indian GDP had already become larger than the GDP of the UK and also France, it said. India is now the third-largest economy in the Asia-Pacific region and the fifthlargest in the world. “India’s nominal GDP measured in USD terms is forecast to rise from USD 3.5 trillion in 2022 to USD 7.3 trillion by 2030. This rapid pace of economic expansion would result in the size of the Indian GDP exceeding Japanese GDP by 2030, making India the second largest economy in the Asia-Pacific region,” S&P Global Market Intelligence said in an article published on October 20. India is expected to continue to be one of the world’s fastest growing economies over the next decade, which will make it one of the most important long-term growth markets for multinationals in a wide range of industries, including manufacturing industries such as autos, electronics and chemicals to services industries such as banking, insurance, asset management, health care and information technology, it said. The article said that after two years of rapid economic growth in 2021 and 2022, the Indian economy has continued to show sustained strong growth during the 2023 calendar year. The country’s GDP growth rate rose to a pace of 7.8 per cent year-onyear in April-June of 2023, compared with growth of 6.1 per cent in the JanuaryMarch quarter of 2023. The strong growth rate was despite high base year effects after GDP growth of 13.1% y/y in the April-June quarter of 2022. “The near-term economic outlook is for continued rapid expansion during the remainder of 2023 and for 2024, underpinned by strong growth in domestic demand,” the article said. The acceleration of foreign direct investment (FDI) inflows into India over the past decade reflects the favourable long-term growth outlook for the Indian economy, helped by a youthful demographic profile and rapidly rising urban household incomes, it said. The long-term outlook for the Indian economy is supported by a number of key growth drivers, with its large and fast-growing middle class being an important factor which is helping to drive consumer spending, the article said. It said that the rapidly growing Indian domestic consumer market as well as its large industrial sector have made the country an increasingly important investment destination for a wide range of multinationals in many sectors, including manufacturing, infrastructure and services. The digital transformation of India that is currently underway is expected to accelerate the growth of e-commerce, changing the retail consumer market landscape over the next decade. This is attracting leading global multinationals in technology and e-commerce to the domestic market. GDP Growth Indian Economy Indian Economy Growth By 2030, 1.1 billion Indians will have internet access, more than doubling from the estimated 500 million internet users in 2020. The rapid growth of e-commerce and the shift to 4G and 5G smartphone technology will boost home-grown unicorns like online e-commerce platform Mensa Brands, logistics startup Delhivery and the fastgrowing online grocer BigBasket, whose e-sales have surged during the pandemic, it said. The large increase in FDI inflows to India that has been evident over the past five years is also continuing with strong momentum evident even during the pandemic years of 2020-2022. India’s strong FDI inflows have been boosted by large inflows of investments from global technology MNCs such as Google and Facebook that are attracted to India’s large, fast-growing domestic consumer market, as well as a strong upturn in foreign direct investment inflows from manufacturing firms, it said.
Source: Indian express
Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles, Shri Piyush Goyal attended the 7th Edition of Future Investment Initiative (FII) in Riyadh from 24th to 25th October 2023. He met several dignitaries from the host country of Kingdom of Saudi Arabia (KSA) including the Energy Minister His Royal Highness (HRH) Prince Abdul Aziz Bin Salman Al-Saud, Commerce Minister His Excellency (H.E.) Majid bin Abdullah AlKassabi, and Investment Minister H.E. Khalid A. Al Falih. Shri Piyush Goyal addressed the 7th Edition of FII in one of the plenary sessions titled “The Coming Investment Mandate”. He also co-chaired a conclave session on the theme “From Risk to Opportunity: Strategies for Emerging Economies in the New Industrial Policy Era” along with the KSA Investment Minister. This was followed by a bilateral meeting where the two respective ministers deliberated expansion of investment across diverse sectors to foster economic growth and further enhance strategic partnership between the two countries. Shri Goyal also held bilateral meetings with KSA Commerce Minister H.E. Majid bin Abdullah AlKassabi, Industry and Mineral Resources Minister H.E. Bandar bin Ibrahim AlKhorayef, CEO NEOM Mr. Nadhmi Al Nasr, and Governor Public Investment Fund (PIF) H.E. Yassir Rummayyan. Discussions pertained to improvement in bilateral relations, especially in the field of commerce and industry. The Minister participated in the Business Round Table organized at the Federation of Saudi Chambers, and highlighted the multiple opportunities offered by India. The growing trade between the two countries reached an all-time high of USD 52.75 billion in FY 2022-23. The conference aimed at further strengthening the economic partnership between the two countries. The Confederation of Indian Industry and the Federation of Saudi Chambers of Commerce signed a Memorandum of Understanding (MoU) in the presence of the Minister to further enhance commercial partnership Shri Piyush Goyal met Mr. Ajay Banga, President of the World Bank and prominent business leaders on the sidelines of the FII. He held interactive sessions with the Indian business leaders and the Indian community living in KSA, both constituting a respectable part of the Saudi economy. KSA is one of India’s most important strategic partners. Cooperation between the two countries can also be witnessed with the establishment of India-Saudi Arabia Strategic Partnership Council (SPC). Established in 2019, it aims to enhance the relationship between the two countries and has two main pillars: the ‘Committee on Political, Security, Social, and Cultural Cooperation’ and the ‘Committee on Economy and Investments’. India is the fourth country with which Riyadh has formed such a partnership, after the UK, France, and China. In this context, the presence of the Shri Goyal in the 7th FII laid the foundation for further enhancement of bilateral ties and cooperation between the two countries in various fields.
Source: PIB
Commerce and Industry Minister Piyush Goyal on Wednesday held discussions with his Saudi Arabian counterpart Majid bin Abdullah AlKassabi on ways to further promote trade ties between the two countries. Goyal was in Riyadh for two days to attend the seventh edition of Future Investment Initiative (FII). "Discussed how the robust India-Saudi trade ties can be further scaled to make global supply chains more resilient," Goyal said on social platform X. He also met Saudi Arabia Energy Minister Prince Abdul Aziz Bin Salman Al-Saud; Investment Minister Khalid A Al Falih; Industry and Mineral Resources Minister Bandar bin Ibrahim AlKhorayef; and Governor Public Investment Fund (PIF) Yassir Rummayyan. Goyal talked about the multiple opportunities offered by India. The bilateral trade between the countries stood at USD 52.75 billion in 2022-23 against USD 42.86 billion in 2021-22. India received USD 3.22 billion in foreign direct investment from Saudi Arabia between April 2000 and June 2023.
Source: Business-Standard
The Punjab government has recently issued a notification for constituting industrial advisory commissions for 26 sectors aimed at promoting holistic business development in the state. According to the notification, each advisory commission will be headed by a renowned person from the relevant industrial sector who will hold a rank equivalent to that of a cabinet minister. The commission will have industry representatives who will be nominated by the government, it said. The advisory commission is meant for several sectors, including textile, machine tools, sports goods, agri and food processing, rice milling and processing, bicycle and bicycle components, agriculture machinery and equipment, pharmaceuticals, alloys and steel, auto and auto components, and electronics. Information technology, paper and paper-based packaging units, plywood and wood products, hotels and hospitality, plastics and chemical products, logistics, construction materials, retail and service industries, healthcare, tourism, media and entertainment, printing and packaging, medical tourism, wire drawing and fasteners, and real estate sectors will also come under the ambit of the advisory commission. The aim of the commission would be to make the business environment more conducive and friendly, the notification said. The commission will make the industry globally competitive by deliberating on important concerns of the sector, such as availability of skilled manpower, improving ease of doing business, and developing top-class infrastructure for the industry, it added.
Source: Business-Standard
Datatex, a global supplier of IT solutions for the textile industry, is strengthening its presence in the Indian and Pakistani markets. Present in India since the early 2000s with a network of partners and resellers, Datatex landed directly in the country in 2017 with the opening of the large Bangalore office, which now employs more than sixty people. Datatex’s expansion on the Indian market continues today – in October 2023 – with the opening of a new office in the city of Coimbatore, which will report directly to the Indian headquarters in Bangalore and will help to better serve the growing number of Indian textile industries that have chosen the NOW ERP by Datatex solution to manage their IT system. In Pakistan, Datatex, already present in the country through partner companies, now lands directly with the opening of a new office in the city of Lahore, with a dedicated team that will be able to closely follow Pakistani textile companies, offering solutions and technical support for digitization and innovative IT management of production processes. Textile fashion is now the largest segment of Pakistan’s manufacturing sector, employing more than 15 million people and accounting for 70 percent of exports. India is now one of the world’s largest producers and exporters of textiles and is already the fourth largest exporter of textiles in the world (after China, Bangladesh and Vietnam). India’s textile sector currently employs more than 45 million people and is strongly supported by the government, which has announced the construction of seven new textile industrial mega-parks (PM-MITRA) in 2023, the allocation of nearly 500 million euros in the 2023-2024 budget (22.6 percent more than last year), and the launch of a development program (SAMARTH) to train more than one million new workers for the sector over the next three years. It is estimated that India’s textile production will reach a GDP of $250 billion and exports of $100 billion by 2025. Datatex now has a global presence with offices in the USA, China, India, Pakistan, Turkey, Italy, Israel, Switzerland, Serbia and Germany.
Source: Textile world
INTERNATIONAL
Serge Ferrari Group, a designer, developer, and manufacturer of innovative composite fabrics, is proud to officially launch a new custom anniversary color for its best-selling exterior solar protection fabric at the Advanced Textiles Expo on Nov. 1-3, 2023, in Orlando, Florida. To celebrate 25 years of Soltis Proof 502, Serge Ferrari Group is presenting this industry-leading waterproof membrane fabric in Revival Blue. Attendees are invited to visit booth #917 to learn more about the Soltis Proof line and other exterior solar protection materials from Serge Ferrari Group. Soltis Proof 502 is a waterproof, durable, lightweight, and easy-to-clean fabric that delivers superior flexibility and strength to allow creative freedom of shape and size for various outdoor applications. This cutting-edge fabric is ideal for awnings, pergolas, shade sails, light structures, and fixed shading systems. “Serge Ferrari Group now proudly offers Soltis Proof 502 in Revival Blue, addressing the current urban renewal trends and the resurgence of textile innovation within the awning industry,” said Jeff Dellinger, Business Development Manager, Marine, Solar & Distribution, Serge Ferrari North America. “In an ever-evolving urban landscape, we recognize that urban design keeps pace with our evolving human needs. Revival Blue serves as a symbol of our cities’ ongoing evolution and their ability to adapt to changing times.” In addition to Revival Blue, the Soltis Proof 502 range is available in 40 other colors, which offer a unique, satin finish and a modern, high-end look suited for commercial and residential applications. Serge Ferrari Group’s patented Précontraint technology guarantees exceptional durability and dimensional stability for Soltis Proof 502. This technology prevents tearing or stretching, while the company’s meticulous pigment selection and thicker yarn crest coating outperform competing products. Proven through rigorous testing, this membrane fabric provides year-round comfort against heat and the elements, offering 100% UV ray protection (UPF 50+). Soltis Proof 502 is GREENGUARD Gold certified and comes with a 10-year warranty.
Source: Textile world
Zara-owner Inditex (ITX.MC), the world's biggest clothing retailer, has agreed to buy recycled polyester from a U.S. start-up as it aims for 25% of its fibers to come from "next-generation" materials by 2030. As fast-fashion retailers face pressure to reduce waste and use recycled fabrics, Inditex is spending more than 70 million euros ($74 million) to secure supply from Los Angeles-based Ambercycle of its recycled polyester made from textile waste. Polyester, a product of the petroleum industry, is widely used in sportswear as it is quick-drying and durable. Under the offtake deal, Inditex will buy 70% of Ambercycle's production of recycled polyester, which is sold under the brand cycora, over three years, Inditex CEO Oscar Garcia Maceiras said at a business event in Zaragoza, Spain. Garcia Maceiras said Inditex is also working with other companies and start-ups in its innovation hub, a unit looking for ways to curb the environmental impact of its products. "The sustainable transformation of Inditex ... is not possible without the collaboration of the different stakeholders," the CEO said in a speech at the event. The Inditex investment will help Ambercycle fund its first commercial-scale textile recycling factory. Production of cycora at the plant is expected to begin around 2025, and the material will be used in Inditex products over the following three years.
CAPSULE COLLECTION Zara Athleticz, a sub-brand of sportswear for men, launched a capsule collection on Wednesday of "technical pieces" containing up to 50% cycora. Inditex said the collection would be available from Zara.com. Some apparel brands seeking to reduce their reliance on virgin polyester have switched to recycled polyester derived from plastic bottles, but that practice has come under criticism as it has created more demand for used plastic bottles, pushing up prices. Textile-to-textile polyester recycling is in its infancy, though, and will take time to reach the scale required by global fashion brands. "We want to drive innovation to scale-up new solutions, processes and materials to achieve textile-to-textile recycling," Inditex's chief sustainability officer Javier Losada said in a statement. The Ambercycle deal marks the latest in a series of investments made by Inditex into textile recycling start-ups. Last year it signed a 100 million euro ($104 million) three-year deal to buy 30% of the recycled fibre produced by Finland's Infinited Fiber Co, and also invested in Circ, another U.S. firm focused on textile-to-textile recycling. In Spain, Inditex has joined forces with rivals including H&M and Mango in an association to manage clothing waste, as the industry prepares for EU legislation requiring member states to separately collect textile waste from January 2025.
Source: Reuters.com
Global diversified manufacturer Milliken & Company has invested in Orak, a Paris-based carpet maintenance and flooring reuse company, as a strategic sustainability enabler for its floor covering business. The relationship marks the beginning of a new generation of sustainable floor covering solutions, and it is set to change the way the industry thinks about waste and its approach to the circular economy. Orak’s Optimal Karpet line of upcycled premium carpet tile has quickly become the leading solution for carpet customers seeking to reduce the carbon footprint of their construction and renovation projects. With Milliken’s investment and partnership, Orak will improve and expand its product offerings to a broader range of customers by managing all the stages in the life of clients’ carpets to guarantee excellent quality reuse. As Orak’s exclusive industry partner, Milliken’s customers will receive access to Orak’s inventory of upcycled carpet tile, all of which aligns with Milliken’s N/XT Life™ circularity program. As one of the first 50 companies in the world to set net-zero targets verified by the Science Based Targets initiative (SBTi), Milliken has a proud record of providing its customers with sustainable products and solutions. Halsey Cook, president and CEO of Milliken & Company, states: “Orak shares our commitment to providing innovative, effective, and sustainable solutions to our customers. At Milliken, we understand the significance of prioritizing sustainability in all our operations. This partnership with Orak is just one of the many ways we are collaborating with key partners to create a positive impact for humankind.” “We are honoured to join with Milliken in this next phase of our business development,” adds Nicolas Lohéac, founder and CEO of Orak. “Milliken shares our vision and desire to reshape the future of our industry and create a new generation of sustainable floor covering solutions.” “Our team is committed to advancing sustainability and accelerating the circularity conversation within our industry, which is why we are excited to support Orak,” concludes Patrick Keese, president of Milliken’s Floor Covering Business. “Together, we will bring customers efficient, cost-effective and, most importantly, impactful flooring solutions that fulfill carefully crafted design specifications.”
Source: Textile world
