NATIONAL
The world is currently facing a dire plastic waste crisis that demands immediate attention. If we continue on our current trajectory of plastic usage and disposal, it is projected that by 2050, we will have an astounding 400 million metric tonnes of plastic waste. India alone contributes an average of 3.4 million metric tonnes of plastic waste annually, as highlighted in a 2023 report titled ‘Plastics: The Potential and Possibilities.’ The major issue with plastic waste is that most of it is nonbiodegradable, breaking down into smaller fragments that pollute our oceans and pose a severe threat to various animal species. However, amidst this concerning scenario, there is a ray of hope emerging from the fashion industry. Brands are now going beyond using biodegradable bags and are revolutionizing fashion through the use of recycled plastic. Recycled polyester is one sustainable fabric gaining significant attention. It is created using fibres made from post-consumer plastic bottles, offering a tremendous opportunity to reuse plastic waste and produce long-lasting, sustainable clothing. The incorporation of recycled polyester and other sustainable fabrics by the fashion sector has a positive impact on the industry’s carbon footprint in multiple ways. Firstly, the production of recycled polyester consumes less energy compared to virgin polyester production, resulting in reduced greenhouse gas emissions. This energy conservation significantly contributes to the fight against climate change and helps lessen the industry’s carbon footprint. Additionally, sustainable fabric production aids in conserving water resources, decreasing the strain on precious freshwater sources. Traditional textile production often involves harmful chemicals and processes that degrade soil quality over time. However, plastic has been found to perform better than alternatives like cotton in terms of water use and emissions. For instance, producing a pound of cotton requires about 1,400 gallons of water, whereas recycled polyester requires virtually no water during production, and even virgin polyester production only utilizes small amounts of water as a coolant. Furthermore, recycled plastic also plays a crucial role in reducing global carbon emissions derived from the fashion industry. According to a report by the Textile Exchange, each kilogram of recycled polyester represents a 70% reduction in greenhouse gas emissions compared to virgin polyester. By embracing recycled polyester, the fashion industry actively contributes to waste reduction, protecting the environment, conserving natural resources, and preserving delicate ecosystems. Additionally, the industry continuously seeks innovative ways to convert plastic waste into wearable clothing through textile-totextile recycling, showcasing its readiness to adapt and become more sustainable. The incorporation of sustainable practices in a fashion not only has a significant impact on the environment but also influences branding and consumer perception. Today’s consumers are increasingly environmentally conscious and prefer companies that demonstrate a dedication to ethical business practices. By implementing sustainable fabrics, fashion brands can position themselves as ethical and progressive industry leaders, attracting customers who develop strong brand associations over time. Considering the numbers, the fashion industry is a substantial contributor to global greenhouse gas emissions, accounting for approximately 4% of emissions, equivalent to the combined emissions of France, Germany, and the United Kingdom. Additionally, the use of synthetic fertilizers and pesticides in cotton cultivation pollutes the soil and nearby water sources. However, the use of recycled polyester can significantly reduce the industry’s environmental impact and offer numerous advantages over traditional materials like cotton or wool. Polyester fabrics, which can be made from recycled polyester, are more affordable, durable, and require less water to launder and maintain. To conclude, the use of recycled plastic in fashion represents a significant step towards addressing the plastic waste crisis and reducing the fashion industry’s environmental impact. It is imperative for the fashion industry to embrace and implement sustainable practices to tackle its substantial environmental challenges and ensure a more sustainable and responsible future for fashion. By adopting recycled polyester and other sustainable fabrics, the industry can revolutionize itself while protecting the planet.
Source: Textile Value Chain
During the second quarter for current fiscal, for Reliance, the fashion and lifestyle segment grew by 32 per cent year on year. Despite the fact that the holiday season falls entirely in the next quarter, the offline business grew strongly. Overall, Reliance Retail Venture’s gross revenue increased to Rs. 77,148 crore in Q2, FY ’24 compared to Rs. 69,948 crore in Q2, FY ’23. It performed well online as well as offline as the company’s financials say that Ajio, the fashion e-commerce platform of Reliance expanded its catalogue by 50 per cent Y-O-Y. Its offline business delivered robust growth despite festive period falling in current quarter. The company recently launched a new format ‘Yousta’, offering fast fashion at affordable prices targeted at the youth segment while Trends launched concept stores with future ready, immersive shopping experiences. “I am delighted to report that we have delivered yet another quarter of stellar performance and achieved an all-time high across financial matrices. The performance is a testament to our customer-centric approach that defines Reliance Retail and we look forward to serving our customers this festive season with renewed optimism and enthusiasm.” said Isha M. Ambani, ED, Reliance Retail Ventures Limited.
Source: Apparel Resources
Prime Minister Narendra Modi on Monday inaugurated, dedicated to the nation and laid foundation stones for projects worth around Rs 5800 crore in Mehsana, Gujarat. The projects are part of rail, road, drinking water and irrigation sectors. Speaking on the occasion, he said: “India’s development story has become a matter of discussion around the world.” Modi said there is a new sense of resolution among Indians and their strength is contributing to the rise in India’s stature. The Prime Minister said Chandrayaan’s landing on the South Pole of the Moon and India’s highly acclaimed G20 Presidency has given India a new identity. Be it roads, rail or airports, the unprecedented investments made in all sectors has expanded modern infrastructure in the country, he said. The projects inaugurated on Monday, he said, will improve connectivity and benefit farmers in the region. “The districts around Mehsana, Patan, Banaskantha, Sabarkantha, Mahisagar, Ahmedabad and Gandhinagar will also benefit from these projects,” he said. The Prime Minister said people of Gujarat had already witnessed the development work that the rest of the country was experiencing today. “Whatever resolution Modi makes, he fulfills it,” he said. He credited rapid development of the State to the stable government elected by its people and said that the entire State has benefited from this, including North Gujarat. Recalling the time when life was difficult in the entire North Gujarat region due to lack of water for drinking and irrigation, and the only business of dairy in the region faced many difficulties, the Prime Minister said the farmers were able to harvest only one crop per year and that too without any certainty. “We focused on development of agriculture, as well as, the industrial sector of North Gujarat,” he said. The government’s aim was to create as many new avenues of livelihood as possible for the people of North Gujarat. He highlighted the Sujalam-Sufalam Scheme which makes use of the water of Narmada and Mahi rivers for the development of Gujarat. He said six barrages are being built on Sabarmati to draw maximum benefit. “One of these barrages has been inaugurated today. Our farmers and dozens of villages will benefit greatly from this,” he said. The Prime Minister said the scope of irrigation in North Gujarat has increased manifold in the last 20-22 years owing to these irrigation projects. The Government introduced micro irrigation in the region and it was widely adopted by farmers. Seventy per cent area in Banaskantha is making use of this new technology. “Farmers can now grow many crops like wheat, castor, groundnut and gram along with fennel, cumin and other spices. He said that 90 per cent of the country’s Isabgol is processed in Gujarat giving it a unique identity. He said potatoes, carrots, mango, amla, pomegranate, guava and lemon are being grown increasingly. Modi said that efforts are also being made to develop Deesa as an organic farming hub for potatoes. He said a huge plant for processing potatoes in Banaskantha has been set up. An Agro Food Park has been built in Mehsana and work is being done to build a similar mega food park in Banaskantha. He said women were the biggest beneficiaries of the development of the animal husbandry and dairy sectors. Hundreds of new veterinary hospitals have been built in North Gujarat over the years resulting in good health of the animals and thereby increasing milk production, he said. He highlighted Monday’s railway projects worth more than Rs 5000 crores and mentioned the dedicated freight corridor between Mehsana and Ahmedabad. This would strengthen connectivity of North Gujarat with major ports like Pipavav, Porbandar and Jamnagar. It will also strengthen the logistics and storage-related sector in North Gujarat, he said. Chief Minister of Gujarat Bhupendra Patel, Member of Parliament C R Patil and Union Minister of State for Railways Darshana Jardosh were present, among others.
Source: The statesman
High-speed weaving and warp knitting processes demand yarns with smooth surfaces for efficient processing. Special procedures to achieve the required yarn quality include air interlacing and sizing. With sustainability in mind sizing is less favoured, since the sizing agent has to be removed after weaving using water and creating high pollution loads.
THE ART OF AIR INTERLACING To develop a novel interlacing system, Karl Mayer, the leading manufacturer of preparation systems for warp knitting and weaving, turned to Heberlein. As a reputable name in filament yarn processes, Heberlein’s competencies in air jets made it an ideal partner. Their collaboration in 2015 started to innovate a completely new air interlacing system that gives considerable economic advantages in warp preparation and the subsequent fabric production sequences. A process creating reliable intermingling points has several benefits, as the weaving machine no longer stops through shedding issues with filament openings or friction from broken filaments. So, the weaving process runs at higher speeds, also enabling size application to be reduced. Heberlein’s high-precision components can be used when the process needs maximum efficiency and yarn strength. The WarpJetKV can increase the intermingling points to 60 to 90 per metre – about triple the usual number, to suit individual requirements in the weaving process. Common speeds from 4,500 to 5,000 m/min in the spinning process usually allow 15/30 nips per metre, which might be sufficient for a smooth weaving process. However, many mills prefer to be on the safe side, especially when using yarns of < 75 denier and DPF < 1.0 – so they opt to install the Heberlein intermingling device.
LESS AIR, MORE PROFIT The other key aspect is the air pressure needed to guarantee an increased number of intermingling points to assure filament cohesion, especially with fine yarns. During air interlacing, an air blast physically intermingles the individual filaments of a multifilament yarn with one another. Saving compressed air in the air interlacing process results in less energy costs. This is proven with the Heberlein WarpJetKV. Tests at the same machine with 1,536 threads – and using the same level of air pressure – show that compared with a standard jet the WarpJet-KV allows savings of 307 and 491 m3/h. Comparing the air pressure needed for the same amount of intermingling points (FP/m) the savings add up to 38%. Thanks to advanced technology by Heberlein, the diameter of the jet’s air orifice is smaller and requires less air while producing the same number of knots.
NEVER TOO EARLY FOR PROFITABLE INVESTMENT In warp knitting, the demands are stringent and complex. Uncompromised yarn quality with highest production efficiency at lowest cost – with the premise of sustainable production – is fundamental. That makes it an ideal time for a retrofit with a proven solution: the Heberlein WarpJet-KV. The figures show interlacing performance up to 10 to 30% higher than competitor jets, based on the same air consumption and stability requirement of intermingling points. Air consumption can be 13 to 40% lower for the same number of intermingling points. Karl Mayer machines can be retrofitted to install Heberlein’s WarpJet-KV with a modification of the main air connection. The modular design of the jets allows up to 64 yarns to be interlaced in a single unit. Depending on the application, customers benefit from the easy exchange of the JetPack and – typically with Heberlein jets – maintenance, cleaning and replacement are easy.
Source: Tecoya Trend
Diversified group Raymond Ltd on Monday said its arm has bagged a redevelopment project in Mumbai with an estimated revenue potential of over Rs 1,700 crore. In a regulatory filing, Raymond Ltd informed that 'Ten X Realty Ltd, a step-down wholly-owned subsidiary of the company, has been selected as the preferred developer for redevelopment of Kumari Jethi T Sipahimalani CHS Ltd (also known as Navjivan Society) located in Mahim West, Mumbai. "Spread across 3.6 acres, the project is strategically located at one of the most sought-after residential areas of Mumbai and estimated to have a revenue potential in excess of Rs 1,700 crore over the project period," it added. The company said it would pursue this project post internal and external approvals. "This is in line with the company's growth plans of real estate development in the Mumbai Metropolitan Region and follows our first project outside Thane, in Bandra East, where we recently commenced construction," Raymond said. Earlier this month, the company said it would invest up to Rs 301 crore in its arm Ten X Realty Ltd. Raymond Ltd, in a regulatory filing, had informed that its board has approved to "invest an amount up to Rs 301 crore in one or more tranches in Ten X Realty Ltd (TXRL). "Out of the said investment, the company will invest up to Rs 125 crore in the form of redeemable preference shares which would be subject to such terms as may be finally decided and agreed. The balance amount of Rs 176 crore will be invested by providing Inter Corporate Deposit (ICD) to TXRL," it added. Raymond has a significant presence in the textile and apparel sector and diverse segments such as consumer care, realty, and engineering in national and international markets.
Source: Tecoya Trend
As India is working on ‘One nation, one police uniform’, industry representatives are brainstorming in this regard. Soon various stakeholders will have a meeting to discuss the issue. It has been called at the headquarters of the Bureau of Police Research & Development (BPR&D) in Delhi. The members aboard the Ministry of Home Affairs (MHA) panel will be sharing expertise linked to the idea. Almost a year ago, Prime Minister Narendra Modi had mooted the idea of ‘One nation, one police uniform’. High-rank police officials of various states, Textile bodies, The Ahmedabad Textile Industry Research Association (ATIRA) and the Surat-based Man-Made Textile Research Association (MANTRA) South India Textile Research Association (SITRA), Northern India Textile Research Association (NITRA), MANTRA, Surat, Troops Comfort Limited, Kanpur, and the Bureau of Indian Standards will discuss standardisation of khaki uniforms for state police and union territory police personnel, and personnel of the Central Armed Police Forces and Central Police Organisations (CPOs). Pankaj Gandhi, Director, MANTRA said, “In the meeting, we may have to give our opinion on the quality of the fabric to be worn by the policemen across the country. The quality parameters are related to yarn, and colour quality. Presently, we assume that the colour of the uniform will be the same across the country, and mostly, it would be khaki.” “Apart from this, there would be little change in the quality of fabric, as atmospheric temperature varies from state to state from East to West and from North to South. We will also have to give our opinion on the colours and pigments used in the uniform,” he added.
Source: Apparel Resources
The Kerala government has drawn up a draft export promotion policy (EPP), which includes a slew of incentives and other institutional supports for stakeholders. The draft policy makes a strong case for adopting targeted strategies and initiatives for enabling exporters to tap the wide range of high-quality goods and services from the state.The policy is drawn up by the state’s investment promotion agency Kerala State Industrial Development Corporation(KSIDC) on behalf of the Department of Industries and Commerce(DI&C). The final policy is expected to be notified by January 2024. The EPP propose a range of supportive measures including a district-oriented approach to tap the outside markets for products from different regions. Kerala is already a prominent exporter of an assortment of merchandise like spices, marine products, tea, ayurvedic and healthcare products, tourism and IT and ITeS services. Still, there is immense scope to bolster the revenue-spinning sector through strategic actions including creation of a value-chain and adding more goods and services in its exporting list. The focus sectors identified by the draft EPP include spices, horticulture and agriculture products, sea food, processed food products, engineering goods, petrochemical products, organic and inorganic chemicals, textiles and garments, defence and aerospace, electronics and ancillary engineering and technology, ayurveda and pharmaceuticals and healthcare among others.
Source: Financial Express
India’s Custom authorities are “actively deploying” cutting-edge technologies including big data analytics, artificial intelligence, image analytics to detect fraud and curb illegal trade, Central Board of Indirect Taxes and Customs (CBIC) Chairman Sanjay Agarwal said on Monday. “The Indian customs administration is combining domain expertise with innovative technology to manage cargo related risks and ensure compliance effectively. A curated risk based approach is being deployed in processing and mitigating the identified risks associated with customs declaration while consciously striking a balance between enforcement and facilitation,” Agarwal said while speaking at the ‘Global Conference on Cooperation in Enforcement Matters’ organised by the Directorate of Revenue Intelligenc Agarwal mentioned the undercurrent of illegal trade in narcotics remains “strong”, and highlighted that global drug trafficking is estimated to be worth $650 billion, contributing approximately 30% of the overall illicit economy. At a time when the landscape of smuggling, tax evasion, commercial fraud, and trade-based money laundering has undergone a paradigm shift, especially post the COVID pandemic, there is a need for robust international cooperation and readiness to adapt to the ever changing scenario, he said. “There is no doubt that we collectively work to defeat these transnational syndicates for which there is a constant need of cooperation and coordination with all national and international enforcement agencies.” At the same event, Finance Minister Nirmala Sitharaman said that Customs officers must make use of technology, share information and actionable intelligence with domestic and international agencies to create deterrence to illicit trade and transnational syndicates. “I place a lot of emphasis on intergovernmental cooperation, along with World Customs Organisation (WCO), so that we are able to crack the brains behind it (smuggling), the masterminds behind it, with the help from local authorities and governments,” she said. Sitharaman also launched Phase-IV of ‘Operation Sesha’ by Indian Customs in collaboration with RILO (Regional Intelligence Liaison Office) Asia-Pacific and RILO Middle-East to curb the illegal trade of timber.
Source: Financial Express
INTERNATIONAL
Lenzing Group is addressing the growing need for material transparency and traceability in protective wear by utilizing the Lenzing Fiber Identification System for LENZING™ FR (flame resistant) cellulosic fibers. The system can identify LENZING™ FR fibers at every stage of production, guaranteeing unparalleled traceability, quality assurance, and trust in protective garments.
Nuance picture LENZING™ FR fibers are produced using renewable raw material wood sourced from controlled and certified forests. Lenzing is also continuing its solid efforts in reducing carbon emissions by ensuring LENZING™ FR protective wear made from modal-based fibers sets a new standard in responsible production processes. Carbon neutral LENZING™ FR fibers, certified by ClimatePartner, are also available to address growing sustainability needs in the industry.
Source: DFU Publications
With the 7,000 m² greenfield facility, Balluff is regionalizing its supply chain and is clearly committed to the Americas’ trading area with the 50 million euro ($53 million) investment. “We believe that business is local and regional – and so is production. That’s why the new site in Aguascalientes plays a key role in supplying our customers in the Americas region with locally produced products, high availability, and short delivery times,” says Frank Nonnenmann, managing director and head of supply chain at Balluff. Mexico is not new territory for Balluff – the sales location in Querétaro has been in operation for 21 years. Balluff also has Americas subsidiaries in Canada, the United States, Argentina, and Brazil.
Fast implementation Balluff organized the site construction in Aguascalientes as a fast-track project, from the business case to site selection to building construction. This means carrying out multiple phases in parallel. “The design phase of the new factory, the commissioning of the local construction company, and the contract negotiations, for example, ran in parallel,” explains Andreas Schönle, manager of strategic projects at Balluff who is responsible for the construction and ramp-up of the new facility. In the process, Balluff benefited from the good cooperation with the contractor and the local authorities. The project was approved internally a year ago, the official groundbreaking ceremony took place in January – and production is able to start after only eight months. The grand opening brings together customers, partners, and government representatives. A family day afterward gives employees and their families the opportunity to celebrate and get to know the site.
Creating perspectives As a fourth-generation family business, Balluff plans ahead. “One of the guiding principles at Balluff is: we think and act today for tomorrow,” explains Nonnenmann. “Our strategies are always future-oriented – in terms of economic efficiency and the environment, technology and product quality, but above all in terms of the people in our company. In this way, we can offer our employees and our business partners and customers a long-term and sustainable perspective.” Anyone who starts at Balluff can make a career here. The company’s management is also local – Edgar Gonzalez, who has called Aguascalientes home for many years, leads the new operation site. Currently, Balluff has 70 employees in Aguascalientes, but that number will increase quickly. The plan is to have 100 people on the team by the end of the year – and 700 by 2027 at the latest. Balluff offers modern working environments, the latest production technology, and an energy-efficient technical infrastructure. The installation of a 500 kWp photovoltaic system on the roof of the production and logistics hall is underway. This will enable the site to cover about a third of its needs with its own electricity in the future. Balluff expects to save around 350 tons of carbon dioxide per year.
Steady expansion and strong team spirit Following the successful start of production, Balluff will gradually expand manufacturing in Aguascalientes: Additional assembly lines for sensor and network technology for the American market will follow. Gonzalez is looking forward to the new tasks and is confident of a smooth production start-up: “In the past months, we have already been able to experience how well the international cooperation between the various Balluff locations works and we have benefitted from the experience of our colleagues.” Teams of experts from Hungary, China, and Germany trained the employees in Mexico before the start of production. Gonzalez emphasizes, “Our colleagues have worked very hard for us. We clearly felt the special Balluff family spirit: everyone working together.” Balluff is starting in Aguascalientes with a production area of 7,000 m² and the option to expand this if required. The space for this has already been reserved. For the sensor and automation specialist, the establishment of the Mexican production site is a milestone and just one of several major projects this year – Balluff is significantly optimizing its own production network this year. In addition to the Aguascalientes project, the company has significantly expanded its production sites in Veszprém, Hungary, and Chengdu, China. With the expansion of production capacities in three regions, Balluff is creating the conditions for more stable global supply chains, shortened delivery times, and advanced sustainability.
Source: Textile world
Heberlein, the leading supplier of air interlacing and air texturing jets, has also applied its expertise to develop a unique air-saving solution for a smooth and efficient weaving process. The Heberlein WarpJet-KV needs up to 38% less compressed air compared with other jets. High-speed weaving and warp knitting processes demand yarns with smooth surfaces for efficient processing. Special procedures to achieve the required yarn quality include air interlacing and sizing. With sustainability in mind sizing is less favoured, since the sizing agent has to be removed after weaving using water and creating high pollution loads.
The art of air interlacing To develop a novel interlacing system, Karl Mayer, the leading manufacturer of preparation systems for warp knitting and weaving, turned to Heberlein. As a reputable name in filament yarn processes, Heberlein’s competencies in air jets made it an ideal partner. Their collaboration in 2015 started to innovate a completely new air interlacing system that gives considerable economic advantages in warp preparation and the subsequent fabric production sequences. A process creating reliable intermingling points has several benefits, as the weaving machine no longer stops through shedding issues with filament openings or friction from broken filaments. So, the weaving process runs at higher speeds, also enabling size application to be reduced. Heberlein’s high-precision components can be used when the process needs maximum efficiency and yarn strength. The WarpJet-KV can increase the intermingling points to 60 to 90 per metre – about triple the usual number, to suit individual requirements in the weaving process. Common speeds from 4,500 to 5,000 m/min in the spinning process usually allow 15/30 nips per metre, which might be sufficient for a smooth weaving process. However, many mills prefer to be on the safe side, especially when using yarns of ≤ 75 denier and DPF ≤ 1.0 – so they opt to install the Heberlein intermingling device.
Less air, more profit The other key aspect is the air pressure needed to guarantee an increased number of intermingling points to assure filament cohesion, especially with fine yarns. During air interlacing, an air blast physically intermingles the individual filaments of a multifilament yarn with one another. Saving compressed air in the air interlacing process results in less energy costs. This is proven with the Heberlein WarpJet-KV. Tests at the same machine with 1,536 threads – and using the same level of air pressure – show that compared with a standard jet the WarpJet-KV allows savings of 307 and 491 m /h. Comparing the air pressure needed for the same amount of intermingling points (FP/m) the savings add up to 38%. Thanks to advanced technology by Heberlein, the diameter of the jet’s air orifice is smaller and requires less air while producing the same number of knots.
Never too early for profitable investment In warp knitting, the demands are stringent and complex. Uncompromised yarn quality with highest production efficiency at lowest cost – with the premise of sustainable production – is fundamental. That makes it an ideal time for a retrofit with a proven solution: the Heberlein WarpJet-KV. The figures show interlacing performance up to 10 to 30% higher than competitor jets, based on the same air consumption and stability requirement of intermingling points. Air consumption can be 13 to 40% lower for the same number of intermingling points. Karl Mayer machines can be retrofitted to install Heberlein’s WarpJet-KV with a modification of the main air connection. The modular design of the jets allows up to 64 yarns to be interlaced in a single unit. Depending on the application, customers benefit from the easy exchange of the JetPack and – typically with Heberlein jets – maintenance, cleaning and replacement are easy.
Source: Textile today
Bangladesh is a good and long-standing partner of Russia in South Asia. Diplomatic relations between the USSR and Bangladesh were established on January 25, 1972, and have continued with Russia being the successor state to the Soviet Union. A few months back Russia approved a list of more than 30 friendly and neutral countries which includes Bangladesh as the country’s banks and brokers will be allowed to trade on the Russian currency as well as derivatives markets. In FY23, Bangladesh’s exports to the promising market of Russia experienced a significant decline of 27.87 percent compared to the previous year, primarily due to the ongoing Russia-Ukraine war. However, both nations are putting a lot of effort into improving the trade situation. Recently Textile Today has taken an exclusive interview with Aleksandr Mantytsky, Russian Ambassador to Bangladesh to discuss the prospects for the development of bilateral relations as well as some other important issues.
Textile Today: Since Bangladesh's independence, Russia has been a close partner and ally and is now increasing investments here. How can both countries grow this bond further for a prosperous future? Aleksandr Mantytsky: The steady development of Russian-Bangladeshi relations is the result of historical legacy and convergent approaches towards many burning issues in the current volatile geopolitical scenario. Economic cooperation is an important pillar in our bilateral ties with Bangladesh being Russia’s second largest trade partner in South Asia after India. The Bilateral Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation is a useful platform for stakeholders from both sides to exchange views on broadening and diversifying the scope of our engagements. Next year there will be the Commission’s 5 meeting. We have all the prerequisites for the successful development of our ties in a variety of spheres, namely smooth political cooperation in the absence of any unsettled disputes and contradictions. Our economic and trade relationship is growing day by day, showing a positive trend that gives us further confidence in its consolidation.
Textile Today: How do you see the economic growth of Bangladesh and how do you evaluate the contribution of the textile and apparel industry to Bangladesh's economy? Needless to say, the textile and apparel industry has alw a y s be e n pla yin g a piv o t al role in the economic growth of Bangladesh. Its clothing and RMG, globally recognized for high quality, durability and affordable prices, are the principal overseas trade items, making up more than 80% of the country’s total exports which has established Bangladesh as the second largest apparel exporter by now. Besides being the key source of foreign currency earnings (last year RMG trade recorded almost 47 billion USD with a 10.27 growth rate despite COVID-19-related uncertainties), the textile industry has been contributing to job creation and attracting investments from abroad as well. That is why it would not be an exaggeration to say that this vibrant sphere, which accounted for almost 10% of the GDP last fiscal year, is the key driving force behind the impressive performance of the overall Bangladeshi economy. With the efforts being made by the government and business community to promote deshi garments overseas, the target to grab a 10% share of the global apparel market by 2025 announced by BGMEA President Faruque Hassan sounds rather realistic. As for the exploration of such opportunities in the Russian market, I would like to attract attention to a number of specialized international exhibitions and fairs held in our country, including the Russian Week of Textile Industry, International Trade Fair 'Fashion Industry', Child and Junior Fashion Salon, etc. I believe that the participation of interested Bangladeshi exporters in the said events will be instrumental in boosting bilateral trade interaction.
Textile Today: Kindly shed light on how the import and export scenario of both countries can accelerate. Aleksandr Mantytsky: As it was mentioned, Russia and Bangladesh have been traditionally enjoying mutually beneficial trade and economic relations. The relevant statistics speak for themselves: since 2019, the annual volume of the bilateral trade has remained above 2 billion USD and almost reached an all-time high of 3 billion in 2021. A slight decrease to 2.35 billion in 2022 was caused by global economic hindrances emanating from illegal sanctions imposed on Russia by the collective West. According to the latest Russian statistics, the turnover for January- July 2023 was approximately 1.4 billion. In any case, we should be optimistic, because the meaningful political dialogue between our leadership based on constructive approaches to the issues of bilateral and multilateral trade cooperation for the sake of our people leaves no doubt that the existing temporary hurdles will be overcome. To this end, competent agencies from both sides are in a discussion to find a proper solution to this problem. As for the export and import structure, the key items of the Russian export to Bangladesh are machinery, equipment, vehicles, metals and agricultural products (wheat, fertilizers, legumes, mustard, etc.), while your country provides our market primarily with textile products that, for sure, needs to be diversified. Both sides have huge untapped potentiality of bilateral trade and economic cooperation in this regard.
Textile Today: Bangladesh's textile and apparel industry is the second largest in the world. What opportunities do you see for the Russian governments or companies to invest in Bangladesh? Aleksandr Mantytsky: The full potential of investment cooperation is yet to be realized. The production of textiles and RMG is a global trend. Today, a large percentage of clothes sold even in the most high-end stores is labeled “Made in Bangladesh”. But it used to reach the Russian market in rather small quantities. Now the situation is changing: since 2022, many international brands decided to leave Russia. So, Russian businessmen are reorienting towards new suppliers, including those from Bangladesh. Investments, both state and private, can amount to billions of dollars. Creating joint ventures with Bangladeshi manufacturers can leverage the strengths of both countries in terms of technology, expertise and market access. Production of pharmaceuticals in Bangladesh, which could be supplied to Russia is another important area of cooperation. The same goes for the ICT and software industry. The government of Bangladesh has done a lot to improve the investment climate. The initiative to establish 100 economic zones by 2030 is very instrumental in this regard. Every year we witness the commissioning of new infrastructure projects – Padma Bridge, HSIA Terminal 3, Karnaphuli Tunnel, Dhaka Elevated Expressway. Legal base and market entry rules are being made more business-friendly. With such rapid improvements, the increase in FDI is just a matter of time.
Textile Today: What are the challenges in bilateral trade with Bangladesh? How these could be removed? Aleksandr Mantytsky: The illegal unilateral sanctions imposed on Russia by the US and its allies caused a breach of the earlier existing production and supply chains. A number of Russian banks (though, naturally, not all of them) came under financial restrictions that hindered transactions in US dollars and euros, including the disconnection from SWIFT. The transit trade through the EU countries remains on hold. This, of course, created some problems for our trade with foreign partners, in particular, with Bangladesh. At the same time, both the governments and companies of the two countries are adjusting to the new reality. The competent agencies are elaborating on secure payment modalities evading the “toxic” currencies. Some progress has already been made in this regard. The exploration of new transportation routes (for instance, through the far eastern territories of Russia) is underway as well. Probably, the time has come to increase the frequency of cargo flights, among other possible incentives for bilateral trade.
Textile Today: The first nuclear power plant in Bangladesh is going to be functional shortly through Russian support. Could you please update on the matter? What will be the impact/growth on our economy from this kind of investment? Aleksandr Mantytsky: The construction work at the Rooppur NPP site is going on at a pace to be envied. The first unit of the power plant is going to start pilot operation within the next year, as the construction works are almost over. The work on the second unit is in full swing too – concrete works on the inner containment dome are finished, and the main circular pipeline has been welded ahead of schedule. Apart from that, more than 1000 Bangladeshi specialists are fully educated and ready to begin the operation on the NPP – all with the help of the Russian Side. As President Vladimir Putin noted during his speech at the Graduation Ceremony on October 5, Russia is not merely building an NPP, we are supporting Bangladesh in establishing a brand new sector of the economy. Rooppur NPP helps to create thousands of workplaces for the local people, and dozens of Bangladeshi companies provide their services and materials for the construction works – and we are not even speaking about the electricity itself. According to the Minister of Science and Technology, Rooppur NPP will serve as an impetus for the growth of the Northern regions increasing GDP by 2%. I suppose this is an outstanding impact.
Textile Today: What is the status of skills and resource exchange programs between both countries? How Russia and Bangladesh can create more of such programs? Aleksandr Mantytsky: The Russian Government provides a number of scholarships to Bangladeshi students every year and conducts all kinds of support programs, including through the Russian House in Dhaka. This practice was established back in 1972, right after Bangladesh gained independence. In the last academic year, the number of scholarships allocated to Bangladeshi students amounted to 110, for the next academic year it has been increased to 124. In total, more than 500 Bangladeshis are studying in Russia now. Among the most popular education programs are economics, medicine and ICT. It is worth mentioning that after graduation Bangladeshi students choose to return to their home country. They hold important positions across many sectors in Bangladesh and contribute to national social and economic development. They work as teachers, academics, businessmen, doctors and civil servants. At present, there are more than 5,000 Bangladeshis with Russian degrees around the world.
Source: The Textile Today.com
