INTERNATIONAL
Textile Raw Material Price 2016-10-09
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1029.13 |
USD/Ton |
0.73% |
10/9/2016 |
|
VSF |
2539.11 |
USD/Ton |
0% |
10/9/2016 |
|
ASF |
1887.48 |
USD/Ton |
0% |
10/9/2016 |
|
Polyester POY |
1041.11 |
USD/Ton |
0% |
10/9/2016 |
|
Nylon FDY |
2426.76 |
USD/Ton |
0% |
10/9/2016 |
|
40D Spandex |
4419.10 |
USD/Ton |
0% |
10/9/2016 |
|
Nylon DTY |
2232.02 |
USD/Ton |
0% |
10/9/2016 |
|
Viscose Long Filament |
2056.75 |
USD/Ton |
0% |
10/9/2016 |
|
Polyester DTY |
1243.34 |
USD/Ton |
0% |
10/9/2016 |
|
Nylon POY |
2621.50 |
USD/Ton |
0% |
10/9/2016 |
|
Acrylic Top 3D |
5639.97 |
USD/Ton |
0% |
10/9/2016 |
|
Polyester FDY |
1292.03 |
USD/Ton |
0% |
10/9/2016 |
|
30S Spun Rayon Yarn |
3100.86 |
USD/Ton |
0% |
10/9/2016 |
|
32S Polyester Yarn |
1734.68 |
USD/Ton |
0% |
10/9/2016 |
|
45S T/C Yarn |
2606.52 |
USD/Ton |
0% |
10/9/2016 |
|
45S Polyester Yarn |
3235.68 |
USD/Ton |
0% |
10/9/2016 |
|
T/C Yarn 65/35 32S |
2366.84 |
USD/Ton |
0% |
10/9/2016 |
|
40S Rayon Yarn |
1842.54 |
USD/Ton |
0% |
10/9/2016 |
|
T/R Yarn 65/35 32S |
2247.00 |
USD/Ton |
0% |
10/9/2016 |
|
10S Denim Fabric |
1.37 |
USD/Meter |
0% |
10/9/2016 |
|
32S Twill Fabric |
0.84 |
USD/Meter |
0% |
10/9/2016 |
|
40S Combed Poplin |
1.18 |
USD/Meter |
0% |
10/9/2016 |
|
30S Rayon Fabric |
0.70 |
USD/Meter |
0% |
10/9/2016 |
|
45S T/C Fabric |
0.67 |
USD/Meter |
0% |
10/9/2016 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.14980 USD dtd 09/10/2016)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
To provide flexibility to employers in the apparel manufacturing sector to hire and fire, the Labour Ministry has notified amendments to the Industrial Employment (Standing Orders), making way for fixed-term employment. The notification comes even as central trade unions, including the RSS-backed Bharatiya Mazdoor Sangh, have been stiffly opposing such a move.
‘Win-win for both’
Terming the move as a “win-win for employers and employees,” the Labour Ministry said: “The decision would facilitate employment of workers in apparel manufacturing on fixed term basis in the backdrop of seasonal nature of sector and would also ensure same working conditions, wages and other benefits for fixed-term employee in the sector as a regular employee.” The Ministry said this was one of the measures approved under the ₹6,000-crore package for the textile sector announced in June this year. “The measures assume significance also due to its potential for social transformation through women empowerment. Since 70 per cent of the workforce in the garment industry is women, majority of the new jobs created are likely to go to women,” the Ministry added.
Fixed-term employment has been defined as a contract for a fixed period, after which the services of a workman will get terminated automatically. Separation of service of an employee as a result of non-renewal of contract with the employer shall not be construed as termination of employment. On termination of fixed-term employment, the workman will not be entitled to any notice or pay. However, central trade unions have opposed the move as ‘anti-worker’. Tapan Sen, General Secretary, Centre of Indian Trade Unions, in a statement issued earlier said it was shocking that Ministry could “silently” issue the said notification without asking for the opinion of the central trade unions.
Flaying the NDA government for its “obsession for ensuring ease of doing business unmindful of its grievous consequences on the workers’ rights and service conditions,” he said “by no stretch of imagination, the apparel manufacturing sector can be considered as one of seasonal nature, anywhere in the world.” He alleged that the move was “designed to gradually replace the regular workforce in industries by temporary workers, totally deprived of all rights.” BMS General Secretary Virijesh Upadhyay said: “This is not in favour of either the employer or the employee. We are opposed to such amendments, which adversely impacts the workers.”
SOURCE: The Hindu Business Line
The revenue department has extended anti-dumping duty on import of certain Chinese products, used in garment, footwear and toy manufacturing, for another five years. The anti-dumping duty on “narrow woven fabrics hook and loop velcro tapes” will be charged at the rate of $1.87 per kilo. These products are mainly used in garment manufacturing, surgical and orthopaedic apparatus, shoes and footwear, luggage/bags, toys, automobile upholstery and other industrial segments. The Central Board of Excise and Customs imposed the duty, based on recommendations of the Directorate General of Anti-Dumping & Allied Duties (DGAD). The DGAD made the case for continuation of the levy, after its second sunset review of the anti-dumping duty in force on the imports.
In market parlance, the product is known by various synonyms such as “hook and loop tape fasteners”, “velcro tapes”, “fastening tapes” and “fasteners”. In October 2010, the revenue department had extended the levy till October 2015. However, before expiry of the duty, Ishi Industries moved an application before the DGAD for another sunset review. DGAD initiated the review investigation in October 2015 to examine whether the expiry of the duty on the import is likely to lead to continuation or recurrence of dumping and injury to the domestic industry.
DOWN IN THE DUMPS
SOURCE: The Business Standard
The Textile Association (India), commonly TAI, is organising an international conference on 'Make in India – Global Vision of Indian Textile Industry', on December 1-2, 2016 in Mumbai. The conference will discuss benefits of 'Make in India' mission for the textile industry. Possibility of making technical textiles in India will also form part of discussion. The international textile conference will also tell the participants about how the industry is perceived by global brands and retailers, said the organisers. Multiple state governments in India had launched their own special textile policies, however, they failed to show results. After the introduction of the 'Make in India' campaign, states like Maharashtra, Gujarat, Madhya Pradesh and Odisha re-launched their policies to promote the textile industry in their respective states. The textile industry is one of the 25 focus sectors of this campaign. The stakeholders of the Indian textile industry will hold panel discussions to share their vision, expectations and requirements at the conference. It will also cover the methods that textile ancillary businesses like cotton and man-made fibre manufacturers, textile machinery manufacturers and dyes/chemicals manufacturers can adopt to stand up to the challenges they face.
Topics such as Central government and state government initiatives, role of financial institutes in the new initiatives, role of fibres and their contribution, textile manufacturing, technical textiles, khadi and handloom, denim and skill development in textile industry are some of the topics which will be covered at the conference. Another focal point of the conference will be the possibility of making technical textiles in India, which are currently imported in large quantities for infrastructure development. This conference will be attended by government representatives, reputed textile professionals and renowned experts from different parts of the world, who will present their papers to over 500 equally high profile participants.
SOURCE: Fibre2fashion
Rising hostilities between India and Pakistan have brought their $822 million-a-year trade in cotton to a juddering halt, as traders who are worried about uncertainty over supplies and driven by patriotism hold off signing new deals. The nuclear-armed rivals have seen tensions ratchet up in the past few months over the disputed territory of Kashmir, and cotton traders in both countries said they were watching developments along the de facto border with alarm. Pakistan, the world's third-largest cotton consumer, usually starts importing from September, but three Indian exporters said the number of inquiries had slowed to a trickle in the last two weeks. In the clearest sign yet of souring relations affecting commerce, Pakistan-based importers also said they were not buying. "At the moment there is no cotton trade. It's at standstill. There is uncertainty that, God forbid, if war breaks out, what will happen?" said Ihsanul Haq, chairman of the Pakistan Cotton Dealers Association.
Pakistan Cotton Commissioner Khalid Abdullah said a "low quantum of trade activity is still taking place." He said the Pakistan government had not directed traders to stop buying Indian cotton and expected trade to normalise when tensions eased. Indian officials said last week that the government was considering whether it should choke trade with Pakistan to put pressure on its neighbour, even though the trade balance is in India's favour.
India's biggest cotton buyer
Trade between India and Pakistan, which have fought three wars since their independence from British rule in 1947, is small. In the 2015-16 fiscal year ending on March 31, official trade between the two was $2.6 billion. Cotton is the largest component of that total. It is not clear whether other goods and commodities traded between the two, such as jewellery and dry fruits, have been hit by the escalation in hostilities as well, but the disruption to cotton shipments is potentially significant. In the crop year ended September 30, Pakistan was India's biggest cotton buyer after its own crop was hit by drought and whitefly pest. It imported 2.5 million bales from India, and supported Indian cotton prices at a time when China was cutting imports, traders said.
Lower purchases by Pakistan this year could hurt exports from the world's biggest producer of the fibre and put pressure on Indian prices, but could also help rival cotton suppliers like Brazil, the United States and some African countries. Chirag Patel, chief executive officer of Indian exporter Jaydeep Cotton Fibers, said the country could export 5 million bales in the 2016/17 crop year, but exports could plunge to 3 million bales without Pakistani imports. An exporter based in Mumbai estimated that Pakistan will need to import at least 3 million bales in 2016/17, and India will have a surplus of around 8 million bales. "As soon as the (political) situation improves, cotton trade will definitely resume between the two countries," said Haq of the Pakistan Cotton Dealers Association. But for now, traders on both sides of the border said the environment was not conducive to doing business. "Many cotton exporters are not interested in selling cotton to Pakistan. They are trying to find other markets," said Pradeep Jain, a ginner based in Jalgaon in the western state of Maharashtra. Shahzad Ali Khan, chairman of Pakistan Cotton Ginners Association, referred to a move by the Indian Motion Picture Producers' Association (IMPPA), a small filmmakers' body, last week, banning their members from hiring Pakistani actors. "India is banning Pakistani artists, so how can it expect us to buy cotton from India?" Khan said. "In various forums Pakistani traders are saying they will not buy cotton from India this year. Even if they need to pay extra, they will pay and buy it from other suppliers."
SOURCE: The Business Standard
A weaver training programme of the Kha-Nachou Handloom Cluster Third batch is currently underway in Imphal, Manipur. The training programme has been organised as part of the Skill Development Programme of the Integrated Skill Development Scheme (ISDS) of the Indian ministry of textiles. The Kha-Nachou Handloom Cluster's 25 weavers are participating in it. The 50-day training programme for weavers is being conducted by Medha Handloom Enterprises, an implementation agency. Manipur's department of commerce and industries (DIC) has sponsored this programme, according to media reports. There are 61 clusters in the state, with 51 clusters from the North East Textile Promotion Scheme. Medha Handloom Enterprises has been amongst all of these 51 clusters. Manipur's handloom industry offers employment to a number of people to help boost the economy and reduce unemployment in the state. Manipur DIC gets close to Rs 50 crore from the Indian government every year. This amount is invested for the improvement of handloom clusters.
SOURCE: Fibre2fashion
Ms. Rita Teaotia, Commerce Secretary, launched a more informative, user-friendly, dedicated website http://www.dgtr.gov.in for DGAD for disseminating information/activities being performed by DGAD. She also inaugurated the additional office space developed by NBCC to meet the requirements of increased work responsibilities and to ensure optimal functioning of the Directorate. The Commerce Secretary appreciated the activities of a dedicated CVD Cell that was created in DGAD to defend the interests of Indian exporters against the anti-dumping/countervailing investigations initiated by foreign governments on Indian exports.
DGAD has continuously raised its working standards, which are reflected in the record number of 51 cases of findings issued by DGAD in 2015-16. In the current FY 2016-17, DGAD has already issued 18 cases of final findings and 3 cases of preliminary findings. DGAD has also in collaboration with Centre for WTO Studies and WTO Secretariat organized a Regional Anti-Dumping Workshop in New Delhi, India during 3rd – 5th October, 2016 to exchange information and views on laws and regulations relating to trade remedy measures and to enhance cooperation in the area of trade remedies.
SOURCE: The Ministry of Commerce
Chief Minister V Narayanasamy today said the new industrial policy of the Puducherry government is poised to attract larger number of domestic as well as foreign investors to the Union Territory. Speaking to reporters after inaugurating the Rs 2.4 crore Export Facilitation Centre of the Puducherry government-owned Industries Development Corporation here, he said, the new industrial policy released during the recent budget session was evolved in keeping with the practical requirements and expectations of the industrial entrepreneurs. He asserted that the policy was poised to attract investors, from within and outside the country, to set up enterprises here. “We intend to encourage industrial units and we have come out with various sops in the industrial policy,” Narayanasamy said and charged the previous AINRC-led government with having “failed to take care of export-oriented industrial units” in Puducherry.
Industries and Revenue Minister M O H F Shajahan, the chairman of PIPDIC R Siva MLA, the Managing Director of the Corporation T Karikalan were among those present.
SOURCE: The Financial Express
Underlining the need for "mindset" change among policymakers, chief executive of leading consultancy KPMG in India, Richard Rekhy said a lot has happened on improving the ease of doing business in India but a lot more has to happen in this regard. While a lot of changes have happened after the new Companies Act first came out and easier issues have been dealt with, he said its implementation "still continues to be a big challenge" which also goes against the ease of doing business. "I think there has to be a mindset change among the policymakers. All rules and regulations should be formed based on the dealing that people do business in the right way," Rekhy told PTI in an interview.
Noting that rules are formed with the assumption that people are doing business in the wrong way, he said the concept should not be that the innocent has to prove himself innocent. "Innocent does not need to prove himself innocent because it impedes the ease of doing business. This becomes a huge cost to compliance," he noted. In India, KPMG, which has a client base of more than 2,700 companies, is into diverse areas including financial and business advisory, tax and regulatory, and risk advisory services, according to its website. On the ease of doing business, Rekhy said a lot has happened but a lot more has to happen. "There are too many rules and regulations that are there... While it (ease of doing business) has improved, it has not improved to the extent that people want it to be improved. There are ground-level changes to be done (for investors to come)," he said.
Noting that there are many more changes to be done, he said if the government does not want to rewrite the rules, then a committee should be formed along with the business community and then look at what the real life challenges are. India is ranked at the 130th position in the World Bank's Doing Business Report and the government is working on ways to further improve the overall ease of doing business. About issues related to implementation of Companies Act, 2013, he expressed hope that those would be addressed once the amendments are in place. After extensive stakeholder consultations, the Corporate Affairs Ministry has proposed further amendments to the Act -- whose most provisions came into force from April 1, 2014. The amended law is expected to be passed by the Parliament during the Winter Session starting next month.
SOURCE: The Business Standard
India’s engagement with LAC(Latin American Countries) has gained further momentum with recent developments that have taken place. India signed an agreement on the expansion of India-Chile PTA in New Delhi on 6th September, 2016. The expanded PTA will have far greater trade coverage in comparison to the agreement signed earlier in March, 2006 as both sides have offered tariff concessions on a number of lines.
In recent years, Trade between India and Peru has been growing. India’s trade with Peru stood at US$ 1,523.35 million during 2015-16. Among the top ten commodities of India’s export to Peru are Motor Vehicle/Cars, Products of Iron and Steel, Cotton Yarn/ Manmade yarn/Fabrics. Drugs Formulations, Iron and Steel, Two and three wheelers, Auto Tyres and Tubes, Bulk Drugs and RMG Cotton including Accessories. The top ten commodities of India’s import from Peru are Bulk Minerals and Ores (under this copper ore is the top most import commodity), Gold (wrought gold), Fertilizers Crude (under this natural calcium phosphate is the topmost import commodity), Zinc and products made of Zinc, Fresh Fruits, Inorganic chemicals, Cocoa Products Finished Leather and Aluminum & Aluminum products.
In order to explore the possibility of a trade agreement with Peru, India has concluded a Joint Study Group report on the feasibility of such a trade agreement during the recent visit of a delegation to Lima, Peru on 26-28 September, 2016. Both sides have agreed to a time frame to carry forward the discussions for negotiating a trade agreement. With the finalization of the report, India will now seek internal approvals of the Government of India for going ahead with the negotiations on a trade agreement which would include trade in goods, trade in services and investment. There is keen interest on the part of Peru also for negotiating a trade agreement at the earliest.
India is also aggressively engaged in the expansion of its Preferential Trade Agreement (PTA) with MERCOSUR (a Six Country trade bloc with Brazil, Argentina, Paraguay and Uruguay as its original members). During the third meeting of the Joint Administrative Committee (JAC) on the expansion of the India-MERCOSUR PTA held on 29th September, 2016 in Brasilia, Brazil, there was expansive discussions on the ‘wish lists’ which had been exchanged by both sides in July, 2016. Both sides are expected to hold the next round of negotiations early next year. The existing India MERCOSUR agreement was signed in New Delhi on January 25, 2004 which came into effect from 1st June, 2009. This agreement has a limited coverage and contains only 450 tariff lines. Both sides have now agreed to expand to cover up to 2500 tariff lines.
India’s bilateral trade with MERCOSUR was US$ 10081.42 million in 2015-16 as compared to US$ 14,240.46 million in 2014-15 which constitute 37.01% and 39.96% of LAC trade during 2014-15 & 2015-16 respectively. With the expansion of the existing PTA, the bilateral trade is expected to be doubled. India has held bilateral discussions with Brazil under the institutional mechanism i.e India-Brazil Trade Monitoring mechanism, the 4th meeting of which was held in Brasilia on 30th September, 2016 after a hiatus of more than four years. Both sides have discussed an array of bilateral issues which impede trade between both the countries. During the meeting India highlighted its concerns on issues relating to market access in agriculture, textiles, pharma and services including high tax on import of services to Brazil. Brazil has responded favorably and has assured to address these issues. Collaboration in areas such as auto, food processing, leather and civil aviation were also discussed. Both sides have agreed for discussions on an agreement on social security. Both sides discussed setting up of the India-Brazil Business Leaders Forum for facilitating interaction and cooperation amongst the private sector. Brazil is currently the leading trading partner of India in Latin America region. Total Bilateral trade with Brazil stood at US$ 6,690.33 million during 2015-16 and both sides agreed endeavor is to meet a trade target of US$ 15 billion by 2020.
SOURCE: The Ministry of Commerce
Britain’s decision to leave the European Union has provided India a chance to increase its trade with the UK, India’s outgoing High Commissioner to the country Navtej Sarna has said. “There is a mind-shift in the UK government towards India and Britain’s decision to part with the EU has provided India a chance to hike its trade with the UK,” Sarna, who is leaving for Washington as India’s ambassador to the US, said at his farewell dinner here last night. In his welcome address, G P Hinduja, Co-Chairman of the Hinduja Group, described Sarna’s tenure here as “short and sweet”. “It is every diplomat’s objective to retire as Ambassador to the US, serve as Foreign Secretary or enter politics. You have all the qualities which are amazing and you have been able to win the hearts of everyone. “You have built such a bridge with the British government, its Prime Minister is visiting Delhi in November. You are a change-maker – you came and there was Brexit and you have changed the Prime Minister. You are going to Washington and you will change the President (there),” he said.
India needs investment and the US has liquidity and Britain expertise and historically they know how to deal with India, Hinduja said while asking Sarna to try to bring America, the UK and India “closer”. India should treat NRI investment on par with Indians’ investment, he said at the event hosted by the NRI Platform headed by Joginder Sanger and attended by Lord Khalid Hameed, Lord Meghnad Desai, Lord Raj Loomba, Lord Suri, Kartar Lalvani, Founder-Chairman of Vitabiotics and leading NRIs Vijay Goel and Prof Nat Puri. The UK chose to leave the 28-nation European Union 43 years in a historic referendum held on June 23 after an acrimonious campaign.
SOURCE: The Financial Express
India and the United Arab Emirates will launch a political and economic dialogue later this month in Dubai as a prelude to Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed Al Nahyan’s presence as the chief guest for next year’s Republic Day celebrations, with the oil-rich Gulf nation looking to invest in the growing real estate sector besides ports and hydro-carbon related fields here.
Led by road transport, highways and shipping minister Nitin Gadkari and minister of state foreign affairs MJ Akbar, the Modi government will hold detailed discussions with UAE's political leadership as well as local industry captains between October 18 and 20. UAE had announced that it will invest $75 bn in the National Investment and Infrastructure Fund. “Oil-rich and cash-rich UAE is looking east as it plans to diversify its economy. The government in UAE feels that India is a natural partner with similar cultural traits, food habits and centuries-old trading ties. There is a natural synergy and the UAE leadership enjoys a level comfort with the biggest country in South Asia. India should try to cash in on the opportunity that currently exists there,” explained an official source familiar with the developments in UAE.
In what would be first political level meeting between the two sides since the Abu Dhabi Crown Prince accepted India’s invite for the R-Day celebrations, Akbar would seek to expand counter-terror partnership that has evolved in the past few years. The United Arab Emirates had come out strongly in India’s support after the Uri strikes, backing action by the Modi government against the terrorists.
The Gulf nation, in keeping with its core strengths in the real estate sector, development and expansion of ports and oil & associated sector, is eyeing to fund such projects, a person familiar with Indo-UAE economic partnership told ET. Two other areas that UAE investors are keen to explore are hospitality and healthcare in India. But it is not just Emirati investors who are eyeing the lucrative market, Indian business groups including Lullu which have made it big in UAE and other five Gulf states are also keen to invest in the healthcare space. The Modi government is hoping to attract funds from UAE for rapid expansion of next generation infrastructure, especially in railways, ports, roads, airports and industrial corridors and parks.
The UAE India Economic Forum, co-supported by Invest India (government's investment promotion arm) scheduled in Dubai on Oct 19-20 participated by top UAE investors besides investors from other Arab nations would help to identity sectors for investments. There will be special session on startups at this Forum. ET has learnt that the Dubai Ports Authority is keen to develop and expand ports along India's huge coastline. Besides UAE is interested in setting up oil storage tanks in the ports here. Investors from UAE are looking to set up oil storage facilities besides small oil fields in this country. UAE is already setting up India's maiden strategic oil reserve facility in Karnataka and offering two-third oil for free. It may be noted that India is UAE's second-largest trading partner, and the UAE is India's third largest trading partner, after the US and China.
SOURCE: The Economic Times
Singapore is seeking more time to revise the two-decade old tax treaty with India, saying its investors need more time to shift to source-based taxation. India has, however, rejected any deferment in the revision of the treaty that will help prevent Singapore, which is the top source of foreign direct investment (FDI) into India, from being used as a shelter to avoid taxes. The redrawing of tax agreement between India and Mauritius in May this year to close a popular loophole, that allowed investors to skirt levies on capital gains made in India, has triggered a similar revision in pact with Singapore.
During the recent meeting with the revenue department officials, Singapore, however, pitched for delaying the revision of the tax treaty beyond March 31, saying their investors want more time. India is keen to rework the treaty before April 2017 — when its revised tax pact with Mauritius will come into effect. India and Singapore had entered into a Double Taxation Avoidance Agreement on May 27, 1994. The bilateral tax treaty allows Singapore to tax investments originating in either of the countries.
Earlier this year, India amended the 34-year-old treaty with Mauritius, allowing for source-based taxation, which means that capital gains will be taxed in the country where it originates. The move is aimed at stopping discriminating between local investors, who pay 15 per cent of their short-term profits to the government, and investors who enter the country via funds typically domiciled in Mauritius or Singapore. Since neither nation imposes capital-gains taxes on securities, and India has tax treaties with both, those investing through offshore funds can keep all they make. Mauritius and Singapore accounted for $22 billion of the total $40 billion India received in FDI during 2015-16. After toiling for almost a decade to redraw the contours, India will start imposing capital gains tax on investments in shares through Mauritius from April next onwards.
Following the revised agreement, short-term capital gains tax will be levied at half the rate prevailing during the first two-year transition from April 1, 2017 to March 31, 2019. The gains are taxed at 15 per cent at present. The full rate will kick in from April 1, 2019. Singapore accounts for largest FDI source with $13.69 billion, followed by Mauritius ($8.35 billion) and the US ($4.19 billion).
SOURCE: The Business Standard
The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 50.14 per barrel (bbl) on 07.10.2016. This was higher than the price of US$ 49.27 per bbl on previous publishing day of 06.10.2016.
In rupee terms, the price of Indian Basket increased to Rs. 3348.40 per bbl on 07.10.2016 as compared to Rs. 3282.71 per bbl on 06.10.2016. Rupee closed weaker at Rs. 66.79 per US$ on 07.10.2016 as against Rs. 66.63 per US$ on 05.10.2016. The table below gives details in this regard:
|
Particulars |
Unit |
Price on October 07, 2016 (Previous trading day i.e. 06.09.2016) |
Pricing Fortnight for 01.10.2016 (Sep 14, 2016 to Sep 28, 2016) |
|
Crude Oil (Indian Basket) |
($/bbl) |
50.14 (49.27) |
43.95 |
|
(Rs/bbl |
3348.40 (3282.71) |
2936.30 |
|
|
Exchange Rate |
(Rs/$) |
66.79 (66.63) |
66.81 |
SOURCE: PIB
The International Monetary Fund’s member countries on Saturday pledged to revive flagging global trade, boost government spending and remove barriers to business to fight weak growth that has left too many people behind. The pledge came as world finance leaders fretted over a rising populist backlash against trade and globalization at the IMF and World Bank annual meetings in Washington. “The persistently low growth has exposed underlying structural weaknesses and risks further dampening potential growth and prospects for inclusiveness,” the Fund’s steering committee said in a communique. Britain’s vote in June to leave the European Union, U.S. Republican presidential candidate Donald Trump’s anti-trade rhetoric and a global slowdown in trade volumes have prompted policymakers to try do a better job selling the benefits of global economic integration to the general public.
The International Monetary and Financial Committee said uncertainty and downside risks to the global recovery were elevated, and that it was increasingly threatened by protectionist policies and stalled reforms. “We reinforce our commitment to strong, sustainable, inclusive, job-rich and more balanced growth. We will use all policy tools – structural reforms, fiscal and monetary policies – both individually and collectively,” it said. The steering committee, made up of people who represent the fund’s 189 member countries, also included a pledge to “design and implement policies to address the concerns of those who have been left behind and to ensure that everyone has the opportunity to benefit from globalization and technological change.”
IMF Managing Director Christine Lagarde has been urging countries to do more to boost growth, spending more on infrastructure and education where possible and relying less on loose monetary policy that is already reached the limits of its influence. She also has sought more pro-market reforms in many countries. “We certainly decided to come up more loudly on this occasion to say, ‘central bankers cannot be the only game in town,'” Lagarde told a news conference. “Let’s get on with it and see some action on the part of the other authorities as well.” The members repeated their pledge to refrain from competitive currency devaluations, to not target exchange rates for competitive purposes and to clearly communicate their policy stances. “We will also redouble our commitment to maintain economic openness and reinvigorate global trade as a critical means to boost global growth.”
In addition, the IMF panel said it would “intensify” efforts to deal with bad loans and other financial sector problems left over from the last financial crisis in some advanced countries. The pledge comes as questions over Deutsche Bank’s financial health also prompted considerable discussion around the talks. The IMF statement said that 26 member countries had pledged $360 billion in bilateral financing that can be used to supplement the Fund’s normal lending resources. The members agreed with Lagarde’s proposal to delay the next review of the Fund’s “quota” shareholding system by about two years. They pledged to complete the review by no later than October 2019, compared with an original timetable for completion in 2017. The last quota review, completed in 2010 but only ratified by the U.S. Congress in late 2015, resulted in a greater share for China, Brazil and other major emerging market economies.
SOURCE: The Financial Express
A top official at Indonesia’s industry ministry has revealed the government plans to give various incentives to the country’s textile industry to encourage exports and competitiveness in the global marketplace. Mr Harjanto, the ministry’s director general of international industrial co-operation, claims officials are exploring the idea of applying energy cost refunds, subsidising electricity bills for manufacturers who want to export textile products. The ministry is also developing plans to revoke goods and services tax (GST) paid by manufacturers purchasing raw materials within Indonesia where they are making products for export, according to Harjanto, a former ministry director general for the chemical and textile industries. The GST currently levied on such textile materials is 10%. “The idea is to give an energy refund to companies that want to commit export…and to support the use of domestic raw material [for textile production], the concept is about (revoking) GST,” says Harjanto.
Currently, companies exporting their textile products can receive a reimbursement, but it takes a year before the money is repaid. The practice depletes industry capital to sustain production – a GST exemption would remove this problem. It would also, he claims, encourage manufacturers to source raw materials within Indonesia – under the reimbursement system, manufacturers will not have an “interest to export and prefer to import [inputs].” The current ministry director general of chemical, textile and other industries Achmad Sigit Dwiwahjono adds that the government also plans to exempt from GST purchases of manufacturing equipment by Indonesian textile product exporters. And this matters. The export of textiles and textile products from Indonesia declined 3.6% to US$12.28bn in 2015 from US$12.74bn in 2014, while the country expects to improve the export to US$12.5bn in 2016, according to industry figures.
The textile sector would like the government to act fast with its incentive schemes. Anies Soengkar, chairman of the Indonesian Textile Association (API – Asosiasi Pertekstilan Indonesia) branch Pekalongan, Central Java, claims officials have been mulling these ideas since 2014. “The government can do many things such as revoking GST but, until now, it has not been implemented,” says Soengkar. “Like electricity, it costs a lot for us as producers. Electricity is the second-biggest component of cost production, which takes 16-20 per cent of total costs, following raw materials, which occupies around 65 per cent of total cost production.” The API has proposed that the government reduces electricity tariffs charged to the industry by 30%. “The state-owned electricity firm PLN – Perusahaan Listrik Negara – provides bad services to us, higher tariffs and, if we delay our payment, it fines us five per cent,” says Soengkar. “But, when electricity blacks out, there is no punishment to the company.” By August (2016), the electricity tariff charged to the textile industry was Indonesian Rupiah IDR1,593.78/kWh (US$0.12 cents). He claims the industry ministry has many ideas and proposals to help, but all are still under discussion because of contrary regulations among related ministries. According to Soengkar, textile producers are only using domestic raw synthetic fibre, but cotton is still imported. Meanwhile, the industry has to deal with additional problems such as smuggling and the fact that raw material supplies are dominated by two producers – Indian-owned Indo Bharat Rayon and Austrian-owned South Pacific Viscose, states Soengkar.
SOURCE: The CCF Group
Innovation in the textile machinery industry is the launch pad for intelligent applications. For example, industry textiles which are replacing conventional materials. In transportation they are making aircrafts and cars more lightweight, thus enabling huge energy savings. Or nonwovens with better environmental friendliness used for the production of wipes.
In the run-up to ITMA Asia + CITME in Shanghai, Mr Nicolai Strauch, press officer, VDMA Textile Machinery spoke to Peter D. Dornier, CEO, Lindauer Dornier GmbH; Dr Janpeter Horn, Managing Director, August Herzog Maschinenfabrik; and Christian Gerking, Project Manager, Nanoval, about textiles and textile machinery contributing to a sustainable world.
Nicolai Strauch: Mr Dornier, your company Lindauer Dornier GmbH is a technology leader in weaving and specialty machines for producing ultrafine plastic films. Would you please explain the role of sustainability in practical terms?
Peter D. Dornier: To name just a few of the latest milestones: Our The Green Machine concept, with the twin objectives of producing exceptionally high-performance woven products for protecting people and the environment while maximising resource conservation.
This sustainability has been a part of the corporate DNA of Dornier since it was founded, and not just because our weaving machines have been the same green colour for the last 50 years. For example, I am thinking of a market like China, which accounts for a quarter of our sales at the moment. Among many other items, our machines are used there to produce filter fabrics for – desperately needed – pollution control in water and air. Incidentally, our “green” machine concept is derived from the basic idea of the VDMA BLUECOMPETENCE initiative for optimising machines or processes, that is to say reducing energy and air consumption will improve performance.
But with regard to sustainability, we go yet another step further, because our weaving machines and film stretching lines typically have service lives lasting 30 to 40 years. These are certainly not “disposable products”. One of our strengths is that we provide support with spare parts and service for as long as this makes financial sense to our customers. This is also what The Green Machine means to us.
Strauch: Weaving has been a part of human life for 6,000 years now – are there any new challenges and opportunities for this textile technology to face these days?
Dornier: Most definitely. Weaving, the appeal of which is based precisely on the consistency of the materials produced, is practised these days in an astounding range of variations: From the very finest “flat” filtration meshes for blood or printing ink to the thick, heavy 3D multilayer fabrics used to reinforce conveyor belts. A woven fabric is always “intrinsically” digital anyway, the weft passes either over or under the warp.
This means that in the weaving mill we have the only truly, purely digital manufacturing process – all other machines produce analogue structures, including those that are controlled digitally. We are currently standing on the threshold of a completely new departure, in which we can produce wovens that are structured not only in two but also in three dimensions and with reproducible “digital quality” as it were. Weaving as an intrinsically digital process has enormous potential and we are only slowly beginning to realise what the future might bring – especially with regard to mass production.
Strauch: What are the implications for sustainable industrial production?
Dornier: In the future, we will undoubtedly be able to replace even more metals with plastics than ever before, or enhance the performance of metals or ceramics with textile reinforcement. If we want to become more mobile, but still be more lightweight, efficient and economical in terms of CO2, composites with carbon, glass or aramid fibres will be the only way ahead. Furthermore, thermoplastics, like PA, PP and HT polyester, will become very important – particularly regarding sheer quantity. For instance, the possible benefits of fibre-reinforced plastics, in terms of safety, are vast. So far, we have not even scratched the surface of the applications and implications of this for mass-produced motor vehicles. The age of metal in the aerospace industry is already on the decline, and in hindsight will be nothing more than an intermezzo, also because of the issues surrounding CO2. Today, textile composite materials account for half of the weight of a modern aircraft. For the Airbus A350 it is over 50%, and for the Eurofighter 82%. However, in most cases unidirectional (UD) textiles are currently used.
What I mean to say is this: It is precisely woven materials for which demand will increase in industrial applications. A woven mass production part is digital, and can be manufactured with total reproducibility in a well-established production process. Just a quick glance at other textile technologies for comparison purposes: For weaving car airbags, that is to say in the field of safety-critical components, a single technician oversees 40 Dornier weaving machines. In a large non-woven fabric facility operated by a car maker to produce structural components from carbon, these figures are practically reversed.
This example shows what the weaving process has to offer in terms of globally distributable, industrial efficiency. The world’s leading airbag or tyre manufacturers already benefit from every day, while large sections of the metal industry are still barely aware of what is coming. This just goes to show, textiles are making a comeback, but in an entirely different form i.e. in aircraft, cars, wind turbines or even as upper material on the boots of professional football players. Woven textiles, the standards and qualities of which can be reproduced almost identically anywhere in the world, are becoming more and more indispensable.
Strauch: Dr Horn, your company August Herzog is a quality and technology leader in the braiding machinery segment. Most products manufactured on your machines are technical textiles. These textiles are replacing conventional materials and enabling innovation thrusts in industries normally not associated with textiles. What is the machinery industry’s share in these developments?
Dr Janpeter Horn: We are often the first provider to cooperate with customers in developing machine technology that is suitable for entirely new applications and thus also for new textile products. On the subject of water treatment engineering, for example, Herzog is the technology leader in machines for producing braided membrane carrier materials with substantial energy and space advantages. As a result, the water in wastewater treatment plants only needs to occupy a quarter of the surface area and uses only half the energy required for treatment in conventional plants.
Strauch: Has the global trend toward lightweight construction with composite fibre materials presented another major challenge for your development engineers?
Dr Horn: We have, indeed, devoted a great deal of effort to these processes in recent years. Nowadays, automated braiding technology from our company is used not only by a leading German car manufacturer. Wherever loadbearing structural components made from carbon fibres are fitted, in aircraft, cars or bicycles, our technology is in demand. This includes the radial braiding machines that have been on the market for well over ten years. In the beginning, our competitors made some attempts to replicate these complex machines, but so far we are the only company that has succeeded in surmounting the underlying technical problems, and we sell these machines all over the world.
Strauch: Recently, synthetic ropes have been causing great excitement with regard to energy recovery…
Dr Horn: These ropes consist of many fibre sets, which have to be bundled. That is why offshore extraction of petroleum and natural gas has become a second major challenge for us in the last few years. In work on the open sea, conventional steel cables are being replaced increasingly by lightweight, synthetic fibre ropes – for example, made from UHMWPE (ultra-high-molecular-weight polyethylene) materials – which float in the water.
These braids are endowed with significantly better properties and can be used at much greater depths than steel, for lifting loads, lowering parts, or mooring rigs and ships. We provide the technology for this. The braided synthetic ropes that are produced in this way are self-supporting in the water. This enables great strength at much greater depth.
Strauch: Another growing application area is medical textiles, like stents. The medical industry is an expanding market, especially the demand for textile implants has been growing during the last years. Herzog offers an unrivaled technique for the production of these delicate products that would have been considered impossible only a few years ago.
Dr Horn: You are referring to the variation braider we developed together with the ITV Denkendorf, Germany’s largest centre of textile research to handle surgical yarns for minimally invasive procedures. The new application development enables the fine single threads needed for “keyhole surgeries” to be manufactured with furcations or openings in an automated process. As a result, the material no longer has to be spliced manually under a microscope, which was previously standard practice.
Strauch: Splitting is your topic, Mr Gerking, isn’t it?
Christian Gerking: That’s right, we started in 1987 with a patent for a unique splitting effect of a flow of molten metals. The splitting effect disintegrates the flow into very fine particles, which could then be used for coating for base metal, for powder metallurgical applications, thermal spraying. Today, we produce metal powders every day – also for 3D printing.
Strauch: How is it related to textiles and spinning?
Gerking: Later, in the early 2000s, we re-developed, transferred this splitting effect, as we call it, to the spinning of nonwoven webs directly from a spin beam onto a belt. These webs are used for hygiene, e.g. wipes, diapers, but also for filters or geotextiles. We do have two pilot plants: one for synthetic fibers, such as PE, PP, PA, PET, PPS, PBT or PLA, and the other for solution spun cellulose, both having a width of 300 mm.
Strauch: Isn’t melt spinning much more simple, just melting and spinning?
Gerking: Unlike solution spinning processes, melt spinning is indeed much easier as you do not need any solvent recovery, like for PAN, viscose or lyocell. While PAN is neither biodegradable nor made of renewable raw-materials, cellulose – either dissolved by carbon disulfide as solvent (viscose) or NMMO (lyocell) – is both. Furthermore, cellulose is hygroscopic without any surface treatment by surfactants.
Strauch: Where do you see the main advantages of cellulose, although huge investments have to be made in the solvent recovery?
Gerking: In the past 12 months, we realised that the interest for cellulose from the market was increasing. That’s why, as we recently announced, we can directly spin fully flushable nonwovens directly from the dye onto a wash drum, we immediately caught attention from well-known producers. You know, there is a huge problem of blockages in sewage systems by non-flushable wipes. Nanoval has a solution.
Strauch: Apart from flushability, are there other advantages of your technology for synthetic nonwoven webs?
Gerking: Our stochastic splitting effect makes a different product than meltblown; we can spin bimodal filament distributions – very good for filter applications. We have a lower air demand and thus lower heating costs for air, micro-nano filaments with diameters of about 30 - 40 % down into the submicron region and higher throughputs.
Strauch: How is that possible?
Gerking: As we do have this unique splitting effect, we can spin from large spin holes – and they enable us to spin with a much higher throughput per hole, up to 15-fold per hole.
Strauch: What is to come next?
Gerking: We are going to extend our process for the spinning of yarns.
Strauch: And we are already curious about this next step, Mr Gerking.
SOURCE: The Innovation in Textiles
The sixth edition of the Denimsandjeans.com Bangladesh show began in Dhaka with 28 denim producers from various like Bangladesh, India, Pakistan, Turkey, Italy, Spain, China, etc, taking part in the show. The show with the theme 'Vintage Recall' was inaugurated by the Turkish ambassador to Bangladesh Devrim Öztürk, who was also the chief guest. While giving the inaugural address, the Turkish envoy said Bangladesh has been able to strengthen its position among the globe's leading denim product exporting countries. Vice president of Bangladesh Textile Mills Association (BTMA) Fazlul Haque said Bangladesh has become the largest supplier of denim apparels to Europe, thereby even surpassing China. According to Haque, the country exported 184 million units of denim jeans to the European Union market, a figure much higher than China. “The government has set a target of exporting $50 billion worth of apparels by 2021, to which the fast growing denim products industry will contribute much to achieve the target,” Haque added.
SOURCE: Fibre2fashion
The Ministry of Industry and Trade has submitted a proposal to Prime Minister Nguyen Xuan Phuc suggesting solutions to issues raised by the Vietnam Textile and Apparel Association (VITAS). This includes a proposition to abolish inspections of formaldehyde content in textiles and garments. VITAS said the current regulation on this inspection has no legal grounds, and is costly and time-consuming. The ministry has recommended that the directive be abolished and instead, a national technical standard for garments and textile products be put in place. The standard is to be promulgated by the beginning of 2017.
Responding to VITAS’ demand for modifications in the garment and textile industry’s planning and strategy, the ministry has scheduled changes next year in keeping with market realities. The ministry said the sector’s ability in dyeing has been limited due to shortage of capital for investment in modern technologies and waste water management. To encourage growth, it has proposed that the Government conduct specific studies to grant licences for the establishment of 500- to 1,000-hectare garment and textile industrial parks (IPs), as well as give them preferential interest rates. Deputy Minister Tran Quoc Khanh recently said that the ministry has tried to solve the sector’s business problems and that legal documents under the ministry’s authority that are causing problems would be abolished in the shortest possible time.
SOURCE: The Global Textiles
Yarn Expo Autumn returns next week to the National Exhibition and Convention Center in Shanghai from October 11–13 with a record number of exhibitors and exhibition space. Exhibitor numbers have increased from 258 in 2015 to over 270 this year, while the exhibition area has expanded by 35 per cent to 11,500 sq. metres, thereby breaking the show's record. Exhibitors will be seen from 12 countries including China, Hong Kong, Bangladesh, India, Indonesia, Korea, Pakistan, Singapore, Switzerland, the US, Uzbekistan and Vietnam. “Following on from the strong business sentiment of the yarn and fibre industry at the spring fair in March, we are just as optimistic for this edition as well, given that the exhibitor number has risen once again to a new record for the fair,” Wendy Wen, senior general manager, Messe Frankfurt (HK) Ltd, said.
SOURCE: Fibre2fashion
Chinese President Xi Jinping will be visiting Dhaka for an official visit on October 15, 2016. This is happening three decades after Chinese President Li Xiannian visited Bangladesh in March 1986. This high-profile visit has already triggered considerable optimism in all quarters due to the fact that China is the biggest trade partner and one of the most trusted friends of Bangladesh since formal diplomatic relations were established in mid-1970s. Both the countries are ready with a number of agreements worth billions, covering trade, investment and developmental cooperation, to sign during President Xi Jinping's visit.
Bangladesh-China bilateral trade has been increasing significantly over the years, both in terms of absolute amount and percentage change among Bangladesh's top trade partners. As per the statistics of Export Promotion Bureau of Bangladesh, the country's total merchandised export to China was USD 808.14 million in the year 2015-16, which was only USD 319.66 million in 2010-11. Thus, Bangladesh's export to China grew at an annual average of 30 percent in the last five years. Nevertheless, the recent export growth has been quite slow, only 6 and 2.2 percent in 2014-15 and 2015-16, respectively. The share of exports to China was merely 2.4 percent of the total export in the immediate past fiscal year.
On the other hand, merchandised imports from China have been the highest for quite some time. The extrapolated data of Bangladesh Bank shows that import from China was worth about USD 9.8 billion in 2015-16, which was USD 5.9 billion in 2010-11. However, the growth of import was considerably lower than export during this period, on average 13 percent per annum. Conversely, the share of imports of China is growing quite well; from 20.7 percent in 2013-14, it has become about 24.1 percent of the total merchandised imports from the country in 2015-16 as per Bangladesh Bank data. Together, Bangladesh's trade with China is now about 26.5 percent of its total trade with the world, which is the highest with a rising trend. If this rate prevails, the total bilateral trade would be USD18 billion in 2021, when the country would celebrate its 50th anniversary.
Bangladesh mainly imports raw materials for its textiles and clothing from China, such as cotton, yarn, fabrics, staple fibers and accessories for its readymade garments (RMG) industry, which is nearly 35 percent of total imports. The latest data of Bangladesh Bank reveals that the country imported cotton, cotton yarn/thread and cotton fabrics (19.6 percent); man-made staple fibres and knitted or crocheted fabrics (10.1 percent); man-made filaments, strip and the like of manmade textile materials (3.8 percent); and other fabrics and apparel accessories (2.8 percent). The other notable import items are boilers, machinery, mechanical appliances and their parts (16.4 percent); electrical machinery and equipment and parts (12.2 percent); and fertiliser, plastic, chemicals, and iron and steel (13.1 percent). The country also imports some food items from China.
On the export side, the top five items constituted about 80 percent of total exports in 2015-16, of which 42.2 percent is woven and knit garments as per the double-digit harmonised code. The main items are woven garments (24.5 percent), leather products and travel items (17.9 percent), knitwear (17.8 percent), paper yarn and woven fabric (12.6 percent), and raw leather (6.5 percent). Fish and footwear are also getting prominence (8.5 percent) in the export basket. Thus, a complementarity is evident in the export and import items, which is believed to create synergy especially in Bangladesh's export-oriented RMG industry. Bangladesh is basically sourcing raw materials and machinery for its textiles and clothing sector.
Despite these positive developments in bilateral trade, there are certain gray areas and constraining factors disfavouring Bangladesh in optimising mutual gains from trade. The first and foremost is very high amount of negative trade balance of Bangladesh, which is currently 85 percent of total bilateral trade. It is mainly due to low export value and its very slow growth in recent years. A slightly encouraging fact is that relative trade deficit has been on the decline — it was 90 percent of total bilateral trade in 2010-11. The declining ratio of trade deficit is perhaps due to duty-free access of around 5,000 Bangladeshi items to the Chinese market under the Asia Pacific Trade Agreement (APTA). Bangladesh, however, needs zero-tariff access of 99 percent items, including RMG products. If China grants this concession, it would significantly help reduce gigantic trade deficit, and bilateral trade would be much larger in the foreseeable future.
Further strengthening of value chain is imperative to benefit the textiles and clothing sector of Bangladesh. China is a cheap source of raw materials, which is being utilised to maintain trade surplus with the European and North American countries. Cost of importing garment inputs from China could be reduced in two ways: reducing time of clearance in sea ports by improving capacity of Chittagong port and extending Chinese production base of non-cotton RMG inputs by constructing relevant factories in Bangladesh. Though the earlier option is immediately required, the latter would help China's costly and declining industries to locate a gainful place and strengthen the bilateral value chain.
Finally, Chinese involvement in Bangladesh's two special economic zones (SEZs) and establishing a dedicated export processing zone (EPZ) for China would help boost bilateral trade and increase Bangladesh's exports to the global market. Even though the SEZ Authority is on the fast track in offering China's desired SEZs in Chittagong and Mongla, the sites have been far from ready in the last two years. There will also likely be complications in constructing EPZ as can be inferred from the experience of the Korean EPZ. Therefore, both parties should come together to assess the ground reality and expedite the process to operationalise the SEZ. The joint communiqué of Prime Minister Sheikh Hasina and President Xi Jinping should cover these issues.
SOURCE: The Daily Star
What if you could order an outfit on your way home to find it freshly printed out and ready to wear when you open your front door? You wouldn’t be blamed for mistaking this for a scene from a science fiction film. But, no longer confined to the big screen, this is marked out as the future of fashion. 3D printing was first used for modelling in architecture and engineering 20 years ago, but has since stepped into mainstream design, captivating fashion designers and entrepreneurs alike. From haute couture to high street, 3D printing could revolutionise what we wear and how we shop.
The theme for this year’s Met Gala, the ‘Oscars of Fashion’, was Manus x Machina: Fashion in an Age of Technology. It is unsurprising, then, that 3D printing featured heavily on the red carpet and in the exhibit. The Belgian technology company, Materialise, contributed to several of the dresses exhibited at the Gala. In late 2014, Vogue magazine did a feature on 3D printing, rendering the six-foot supermodel, Karlie Kloss, down to a series of six-inch 3D print-outs in collaboration with Shapeways, a Dutch 3D printing company based in New York. The miniature Klosses were then flown all over the world for ‘photoshoots’ in iconic locations. Shapeways was also commissioned by Victoria’s Secret to produce the iconic wings for their annual runway extravaganza, custom made to fit the body contours of supermodel Lindsay Ellingson.
However, as yet, 3D-printed materials have not come close to the functionality of traditional fabrics. The mainstream of 3D fashion is directed toward ‘hardware’ accessories. 3D-printed jewellery and glasses frames are increasingly commonplace, and the technology has been used in shoe and bag design. The lightweight materials available in the 3D printing world have allowed designers to push the boundaries of volume and dimension to create previously unrealistic designs.
For the moment 3D clothing lives in the exclusive world of couture. Impossibly intricate and captivating works have graced the runways of designers such as Iris van Herpen and threeASFOUR. Van Herpen said the technology “freed me from all physical limitations. Suddenly, every complex structure was possible and I could create more detail than I ever could by hand.” It is this freedom that appeals to more and more designers. Most creations are highly structural and all but unwearable – more like works of art fitted around the human form. But, as with all things in fashion, that is set to change.
Entrepreneurial designers already have their sights set on bringing 3D fashion and its potential for customisation to the masses. Until now, couture clothes have been unique pieces, painstakingly designed and crafted by highly-skilled artists to fit the wearer’s form exactly. The nature of couture production meant that it was the exclusive purview of the rich and famous. However, 3D printing is on track to democratise the world of couture. There may come a time when domestic 3D printers will be sophisticated enough for consumers to scan their own bodies, send their measurements to online retailers and instantly download the blueprint for their chosen outfit, fitted exactly to their body, to print out at home. Although he admits this is a distant goal, Joris Debo, the CEO of Materialise, told Bloomberg that several companies are already looking into developing this technology.
Andrew Bolton, the curator of the Manus x Machina Gala, echoes Debo's excitement, claiming 3D printing to be “as revolutionary as the sewing machine.” Bolton sees it accelerating environmental development in fashion due to “the ability to mould exactly…there’s no waste, whereas there’s always waste with textiles.” In a world ever more focussed on environmental reparation, this aspect of 3D printing is certainly something worth developing, not just for fashion. Even in the last three years, Debo has noticed a marked improvement in the functionality of 3D textiles, from garments initially resembling “body armour”, to the development of more flexible textiles, as seen in Danit Peleg’s most recent ready-to-wear collection. While we may be a long way from a world of 3D fashion, at this rate, it is no longer in a galaxy far, far away.
SOURCE: The Varsity
