INTERNATIONAL
Textile Raw Material Price 2016-11-30
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1074.23 |
USD/Ton |
0% |
11/30/2016 |
|
VSF |
2209.34 |
USD/Ton |
0% |
11/30/2016 |
|
ASF |
1855.62 |
USD/Ton |
0% |
11/30/2016 |
|
Polyester POY |
1122.07 |
USD/Ton |
0% |
11/30/2016 |
|
Nylon FDY |
2580.47 |
USD/Ton |
2% |
11/30/2016 |
|
40D Spandex |
4276.62 |
USD/Ton |
0% |
11/30/2016 |
|
Polyester DTY |
2739.93 |
USD/Ton |
2% |
11/30/2016 |
|
Nylon POY |
5465.37 |
USD/Ton |
0% |
11/30/2016 |
|
Acrylic Top 3D |
1333.72 |
USD/Ton |
0% |
11/30/2016 |
|
Polyester FDY |
2392.01 |
USD/Ton |
1% |
11/30/2016 |
|
Nylon DTY |
2029.58 |
USD/Ton |
0% |
11/30/2016 |
|
Viscose Long Filament |
1406.21 |
USD/Ton |
1% |
11/30/2016 |
|
30S Spun Rayon Yarn |
2855.91 |
USD/Ton |
0% |
11/30/2016 |
|
32S Polyester Yarn |
1712.1 |
USD/Ton |
0% |
11/30/2016 |
|
45S T/C Yarn |
2551.47 |
USD/Ton |
0% |
11/30/2016 |
|
40S Rayon Yarn |
1841.12 |
USD/Ton |
0% |
11/30/2016 |
|
T/R Yarn 65/35 32S |
2203.54 |
USD/Ton |
0% |
11/30/2016 |
|
45S Polyester Yarn |
3000.88 |
USD/Ton |
0% |
11/30/2016 |
|
T/C Yarn 65/35 32S |
2247.04 |
USD/Ton |
1% |
11/30/2016 |
|
10S Denim Fabric |
1.33 |
USD/Meter |
0% |
11/30/2016 |
|
32S Twill Fabric |
0.82 |
USD/Meter |
0% |
11/30/2016 |
|
40S Combed Poplin |
1.15 |
USD/Meter |
0% |
11/30/2016 |
|
30S Rayon Fabric |
0.66 |
USD/Meter |
0% |
11/30/2016 |
|
45S T/C Fabric |
0.64 |
USD/Meter |
0% |
11/30/2016 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.14497 USD dtd. 30/11/2016)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Farmers and environmental activists vehemently opposed the proposal to set up a state-of-the-art bleaching and dying cluster at Tamaraikulam and Pottalkulam near Kariyapatti by Southern District Textile Processing Cluster (P) Limited at a public hearing held at the cluster site on Wednesday. Despite the project report read out at the public hearing promising to take care of all environmental issues and assuring to supply protected drinking water and constructing of bus shelters in and around the project site, the villagers pleaded not to wreak havoc on their livelihood activities of farming and cattle grazing. The cluster, facilitated by MADITSSIA, would come up at a cost of Rs. 170 crore with assistance from Union and State Governments. It would provide employment to over 3,000 persons and boost export of garments. “Let us be contended by feeding ourselves with the grains raised here, even if we do not supply our produce to the world outside our region,” said a youth Baladandhayutham of Tamaraikulam. One of them posed questions to the promoters of the project whether they would dare to set up their houses nearby the cluster that would degenerate the environment with water, land and air pollution.
Another college student Chandra Bose said that the project would reduce the “bosses of the villages involved in farming” to workers of the company. “Please let us remain as bosses,” he said. Tamil Nadu Vivasayigal Sangam leader Vijayamurugan said a similar project promising to upkeep the environment at A. Mukkulam has led to deteriorate water and air. “At least 240 people in the surrounding have kidney problem due to the incinerator” he complained. The project would endanger several wildlife like boars, deers and peacocks, he added.
Environmental activist Mugilan complained that the Tamil Nadu Pollution Control Board was misleading the people by claiming that the project was all about textile park. “It is actually dying cluster that had history of creating large scale environmental destruction,” he said. Several speakers urged the Government to set up some agro-based industry in the region to help the farmers. Several representatives of MADITSSIA, including KR. Gnanasambandan, were present. In a statement, Tiruchuli MLA, Thangam Thennarasu, said that farmers and people of the region were shocked over the proposal of the textile processing cluster. People of the State are aware of the large-scale pollution of Noyyal river due to similar projects in Tiruppur and Erode, he said. Condemning the initiative, he appealed to the State Government and the district administration to ban the project. He also threatened that the DMK would launch a people’s movement against the cluster.
SOURCE: The Hindu
A fish tank with expensive Arowana fish is prominently displayed in many factories making hosiery in the Indian textile hub of Tirupur - the owners believe it will bring them wealth. But any prosperity is limited to factory owners. Few profits trickle down to the tens of thousands of workers they employ, says filmmaker P.R. Amudhan, who has made a documentary that chronicles the plight of those at the bottom of a global supply chain. The name of his film, "Dollar City", refers to the southern Indian city, which is home to an expanding garment industry, one of the pillars of India's economy - and the foreign exchange it generates through exports. "It is the owners who are receiving, enjoying and consuming the dollars that come into this city, which produces garments for brands across the world," Amudhan told the Thomson Reuters Foundation. "The worker earns very little in the city that is often referred to as dollar city. And today, there is complicit silence on the issue, even the super exploited worker is not complaining." The film has been screened 50 times across India since its release on May 1, to audiences that include manufacturers, workers and policymakers - sparking a debate on what some unions fear is the acceptance of exploitative conditions in the sector. "The documentary has revealed the enormous power wielded by the garment industry, the abominable conditions in which factory workers live and work in Tirupur," Sujatha Mody, president of Garment and Fashion Workers Union, wrote in a blog after watching a screening with workers in Chennai. Other viewers were shocked by the urban squalor and poverty in Tirupur.
India is one of the world's largest textile and garment manufacturers serving the international and increasingly, domestic market. Many of the workers employed in the $40-billion-a-year industry are trapped in debt bondage, face abuse or are forced to work long hours in poor conditions, campaigners say. Traditionally, the dyeing units, spinning mills and apparel factories have drawn on cheap labor from villages across the southern state of Tamil Nadu to cater to the demand from Western high street shops. "Tirupur is a massive attraction for young workers because the city promises a better future," said Amudhan. "But if they want to be part of it, they have to follow the script. There is no room for questions or protest, not even when the better future does not materialize." The documentary, which also explores the government's complacency in implementing labor laws, featured uncomplaining, muted voices of workers from Tirupur. "None of the garment workers interviewed in the film spoke of their difficulties," Mody said. But at screenings in Chennai, New Delhi and Hyderabad, this silence was questioned. "I view it as a collective crime, where everyone is equally responsible, even the worker," Amudhan said. "It has the workers' consent, the unions are lethargic, the government is complacent and aspirational manufacturers are busy chasing profits."
SOURCE: The Reuters
Collector Krishna Bhaskar avowing that the Telangana government will indubitably cooperate in developing of Textile Park in the district for which proposals were already submitted to extend 50 percent of financial help on behalf of the government to reinstate the closed units. About 26 units in the textile park were closed due to delay in providing subsidy and other reasons. Also various units established in the park still have to pay Rs 10 crore to the banks. At a meeting with district level committee at his chamber here on Wednesday, he urged the Additional Director of Textile department to prepare a report about the prices of power units in other states along with a Detailed Project Report on the problems of stakeholders, who established various units to produce quality cloth in the park. He suggested the stakeholders to form a society with at least 50 members and send proposals to the Central government for releasing funds to establish more units in the park. He also suggested Panchayat Raj department engineers to prepare an estimation report on drainage canals and water supply in the park.
About 90 per cent of water supply works, which were started in the park at a cost of Rs 2.75 crores, are completed. The collector ordered the officials of Public Health department to finish up the remaining works at the earliest. Separate electric line will be set up to supply uninterrupted power supply to the units present in the park, the Collector informed. Additional Director of Textile department V Ashok Rao, Additional Director of Hyderabad Powerloom Services Vijay Kumar, Hyderabad Weavers Society representative Ramakrishna and the stakeholders Anil, Srihari and Parushuramulu were present at the district level committee meeting to discuss on the development of textile park in the district.
SOURCE: Yarns&Fibers
With Indian textile industry aiming to double its exports and turnover in next five years, the textile machinery industry is expected to witness a robust demand. “For textile industry to achieve this growth, it has to rely on modern technology and engineering. Thus, we anticipate a strong demand for textile machinery and accessories, especially with foreign textile brands expanding their presence in the country,” said Sanjiv Lathia, chairman, India International Textile Machinery Exhibitions (ITME) Society, which is organising India ITME 2016 expo in Mumbai from December 3-8, 2016.
The textile sector is one of the largest contributions to India’s exports with approximately 11 percent of total exports. The country’s overall textile exports during FY 2015-2016 stood at $ 40 billion and the industry is expected to reach $ 223 billion by 2021. “The textile industry is the second largest employer in India after agriculture it is utmost necessary that Indian textile machine manufacturing industry has to strengthen its base for quality output and efficiency through innovation and best technologies available anywhere in the world to be accepted globally. India is now developing in manifold in most of the sectors especially in the spinning machinery manufacturing segments,” Lathia added.
At present, Indian textile machinery is estimated at $ 3.5-4 billion with imports accounting for about 30-35 percent, which mostly caters to high-end segment of textile and garment manufacturing. India ITME 2016 will host over 1050 exhibitors from 38 countries and expects 150,000 visitors (domestic as well as from abroad). The once-in-four-years exhibition will also witness launch of 24 products over 6 days besides discussions, knowledge sharing, profiling of artisans, photography exhibition, etc. “India is not only a strong market but also is explored as a hub for training and skill development by many countries in the field of textile & textile engineering,” stated India ITME Society.
SOURCE: The Business Standard
An International Textile Conference on Make in India – Global Vision of Indian Textile Industry is being held in the city on December 1&2, 2016. The Textile Association (India), Mumbai Unit is organising the Conference at Hotel the Lalit, Mumbai. The Conference aims to show how the ‘Make in India’ mission is going to help the Indian Textile Industry and how the global brands/retailers are looking to the Indian Textile Industry. The conference will be addressed by reputed textile professionals and renowned experts from different parts of the world and will be attended by over 500 equally high profile participants. Ujjwal Uke, Principal Secretary (Textiles), Government of Maharashtra, is the Chief Guest at the conference and D. Udeshi, President-Polyester Chain, Reliance Industries Limited, will be the key note speaker. Apart from them, R. B. Gupte, Director, MSME, Mumbai will deliberate upon Make in India – An approach to Global Manufacturing Hub and Dr. Anandraj, Senior Advisor, ZED Cell QCI will speak on Journey towards Challenges –Best Practices & ZED Certification. The other topics to be deliberated upon include - Role of Textile Sector Skill Council to support Make in India mission through Skilling in textile sector, Advanced anaerobic technology for textile industry wastewaters, Dyeing of Polyester fabrics using Super Critical Fluid (Carbon Dioxide) - Waterless Dyeing etc.
SOURCE: The KNN India
A three-day exhibition in the Capital celebrates the role of textiles in our daily lives. Billed as an attempt to resuscitate textile craft skills of India, the second edition of Nayaab will be an eclectic mix of design and skill. Curated by Rupa Sood and Sharan Apparao, the three-day exhibition will be held at The Lodhi beginning this Thursday. The designs pay tribute to the ancient textiles of the country and present them in new, eclectic ways through the aesthetic sensibilities of talented designers featuring Aneeth Arora, Bodhi, Divyam Mehta, Gaurang Shah, Divyam Mehta, Swati Khalsi and Sunita Shanker. The objective is to share the pride of the skills in an undiluted form; moving the crafts of textiles beyond ramp and make Delhiites see them as work of art.
Rupa Sood explains the basic contours of the exhibition.
Excerpts:
This is an attempt to revive textiles. What is the future of our textiles keeping in mind advancement of machine-made fabric?
Our aim is certainly to throw the spotlight on the weaving tradition and revive textiles. We aim to bring it to the centrestage so that it, once again, finds a pride of place in contemporary India. We believe, the future of our textiles will not be hampered due to the advancement of machine-made fabrics as even after when machine made clothes ruled the entire clothing market hand-made clothes never went out of demand. People prefer to buy them over the former because of the strength, durability, and uniqueness it encompasses. And we believe it still exists with a huge fan following all over the world. Machine made clothes; however, undoubtedly rule the apparel market as they are inexpensive as compared to the latter. They can be availed in all sizes and patterns. But they do not encompass any aesthetic value . Not everyone can afford handloom as they cost way more as preparing them is extremely laborious and time consuming. We believe comparing the machine made fabric with the textiles is not fair as they both function in diverse ways. We want to ensure the continuance of the legacy, so even as power looms remain functional, we want to make sure that our handloom legacy and culture is protected.
What kind of research has gone into selection of Indian weaves?
Our research was focused majorly on selecting the apt designers for the second edition of Nayaab and we did a thorough market research of the latest collections they have showcased. Each designer has done a detailed understanding of the techniques and procedures that they wanted to present to our patrons. The initiative of the exhibition is to present the old charms of the textile heritage with the modern styles. Designers such as Gaurang Shah will exhibit Patola saris, he has used vegetable dyes, and techniques. Vriksh Odisha saris are designed from the grassroots and each technique used is taken from the heritage of the place. It a sincere effort of the designer to present the Odisha saris with the modern touches for our customers.
A new avatar
Usually hand crafted garments of Pero whether on the ramp and rack are seen in Westernised look. This time Aneeth has given a fillip to Indian silhouettes. “Since inspiration is Indian clothes we have shown how women can get the complete wardrobe – kurti, pyjama and dupatta all under the same roof.” Interestingly, visitors would get to see saris, which have not been officially launched by Pero. “We would be showcasing 10 to 15 saris. So far, our label hasn’t officially launched sari. Each sari would be a unique, one of a kind piece.” A craft revivalist, Aneeth is known for using fabrics from different parts of the country. “Last season, we showcased Jamdani. At that time weavers in Bengal had stopped doing them. We believe in working with the same set of people so that they keep getting work. This time we have worked with weavers of Bhuj in Gujarat. We are showcasing natural block printing and Bandhini. It is all in black and white to go with the current season. We were working with block printing of natural colours. So we thought it would fit with the scheme.” Twenty five styles of shirts, tunics, dresses and bottoms will be showcased.
According to Pali of Monapali label, she is making an attempt at reviving textiles. “A handcrafted dupatta revives the heritage as it passes down as heirlooms pieces through generations. Taking a cue from the same thought, we have created an exclusive line of handcrafted and hand embroidered dupattas and also blended them with jackets to create single sleeved anti-fit wraps.”
Noting that she had put kantha on the international map, Pali says: “We will display a range of kantha in dupatta; we have infused this embroidery with satin stitch, long and short. I have also done linen, which has weave of ikkat. Most dupattas are in kantha stitches.”
For Divyam Mehta, this was another opportunity to demonstrate his expertise in Shiboni technique. “ I’ve used shiboni of Bengal and Gujarat. Designs are coming out of barks of trees; they are wild free flowing. So we have converted them into shiboni. We have done the intricate way like first tie the fabric and then dip it in colours. And then we open the knots and create pattern out of it. So it has been a mix of bandhini, mix of how we tie the fabric and tie.”
SOURCE: The Hindu
Weaving units in the powerloom sector may get electricity at ‘competitive prices’ as Union Power Ministry will discuss the matter with the states with a view to providing a level-playing field to such units. Power Minister Piyush Goyal gave assurance in this regard to Textiles Minister Smriti Irani at a meeting, an official source said. “The Union Power Minister Piyush Goyal will discuss providing a level-playing field to the units in powerloom sector with state governments. If they (states) agree, the decision may be soon be implemented,” a senior official who was present in the meeting told PTI.
Goyal discussed power tariff and other issues faced by the powerloom sector in the meeting with Irani here. In a tweet, Irani thanked Goyal for “assuring support in providing power at competitive prices to the weaving units in powerloom sector”. “It was also decided that textiles industry associations will prepare a report in conjunction with the Government on technology upgradation for the powerloom sector,” the official said. The meeting also had representatives from the textiles industry. “Powerloom is lifeline of textile sector. Technology upgradation for the powerloom sector could be a gamechanger for the entire industry,” Confederation of Indian Textile Industry Secretary General Binoy Job said.
SOURCE: The Indian Express
India has improved its ranking by four places to 102nd position among 136 economies in terms of enabling cross border trade, with Singapore leading the list, the World Economic Forum (WEF) said. Among the BRICS nations, India, China and South Africa have improved their ranking from the previous edition. While India's position has jumped four slots to 102, that of South Africa has improved three places to 55 while that of China stood at 61 compared with the previous ranking of 63. Brazil's ranking has slipped to 110 from the earlier 97 while that of Russia dropped to 111 from the 105th position.
The 'Global Enabling Trade Report 2016' -- published by WEF and the Global Alliance for Trade Facilitation -- assesses the performance of 136 economies by way of Enabling Trade Index (ETI). The index assesses the extent to which economies have in place the factors facilitating the free flow of goods over borders and to their destinations. It takes into consideration various factors, including domestic and foreign market access, border administration, transport and digital infrastructure and operating environment. Singapore is leading the top ten economies that are enabling trade across borders followed by the Netherlands and Hong Kong SAR at second and third places, respectively. Others are Luxembourg (4), Sweden (5), Finland (6), Austria (7), the United Kingdom (8), Germany (9) and Belgium (10). The US is placed at the 22nd position. With regard to India, the report said most problematic factors for import include high cost or delays caused by domestic transportation, crime and theft, corruption on the border and burdensome import procedures.
Despite popular perceptions, the report said large swathes of the global population are still unable to participate in international trade or global value chains. "Larger emerging markets in particular fare poorly in the ETI, with China representing the only top-10 most-populous nation in the top half of the index. "Six others, home to 2.4 billion people, rank beyond the 100th mark - India (102nd), Brazil (110th), Russia (111th), Pakistan (122nd), Bangladesh (123rd), and Nigeria (127th)," it noted. Global Alliance for Trade Facilitation's Director Philippe Isler said businesses and entrepreneurs in many developing and emerging economies are being constrained from the global marketplace due to costly as well as inefficient border processes. Published every two years, the report said increased integration into the global economy has made the Association of Southeast Asian Nations (ASEAN) region a more accessible market for trading goods than either the European Union or the US. "Free trade remains the most powerful driver of global economic development and social progress. The challenge for leaders today is to confront protectionism, but they also have a duty to make trade a source for more inclusive growth," WEF Founder and Executive Chairman Klaus Schwab said.
SOURCE: The Economic Times
India has initiated as many as 353 anti-dumping cases as on November 28 this year, Parliament was informed. Anti-dumping duties help protecting domestic players from cheap imports. "As on November 28, 2016, Directorate General of Anti-dumping and Allied Duties (DGAD) initiated 353 anti-dumping cases and in 130 cases, anti-dumping measures are in force," Commerce and Industry Minister Nirmala Sitharaman said in a written reply to Rajya Sabha. The major products found to have been dumped from China and other countries fall in the categories like chemicals and petrochemicals, pharma, steel, fibre and consumer goods. Countries initiate an anti-dumping probe to determine whether their domestic industries have been hurt because of surge in cheap import of any product. As a counter measure, they impose duties under the multilateral regime of the WTO. The duty is aimed at ensuring fair trade practices and creating a level-playing field for domestic producers vis-a-vis foreign producers and exporters resorting to dumping of goods at below-cost rates.
Replying to a separate question, Sitharaman said that the government has constituted an inter-ministerial task force under the department of animal husbandry, dairying and fisheries with the responsibility to work out specific strategies required from time to time for India's constructive interventions in the WTO negotiations on fisheries subsidies. "Flexibilities, particularly for the artisanal, poor and subsistence fishermen, is the major element of India's interventions in these negotiations," she added.
SOURCE: The Economic Times
The Commerce Ministry wants there should be "fair valuation" of rupee keeping in view the global environment as it has a bearing on exports, Parliament was informed. Commerce and Industry Minister Nirmala Sitharaman said that there are many factors that influence exports including demand intensity, market share, price elasticity, valuation of other currencies. "Department of Commerce had suggested a fair valuation of rupee keeping in view of the global market situation. The government and the RBI are closely monitoring the situation including exchange rate of rupee in nominal and real terms and macroeconomic policies," she said in a written reply to the Rajya Sabha. She was replying to a question as to what extent strengthening of rupee will impact exports and whether the ministry has asked to devalue rupee to boost exports and reasons behind RBI's refusal to do so. During the April-October period of current fiscal, exports dipped by 0.17 per cent to $154.91 billion.
Replying to a separate question, she said it is "true" that India's pharmaceutical exports to Japan are not significant. It was only $143.83 million in 2015-16. She said Japan is a "highly regulated market and product registrations in Japan are time consuming and tedious". Keeping in view of getting access to Japanese market, the minister said top regulators from India have been visiting there and putting all out efforts to promote generics in that market. Replying to a separate question, Sitharaman said that India has been taking up the visa issue consistently with the UK. India has urged the UK to address concerns of the domestic industry in the interest of bilateral trade in services between the two countries. Changes in visa regime in the UK "are expected to adversely impact the ease of entry and competitiveness of Indian IT companies in the UK thereby negatively impacting bilateral trade relations," she added.
SOURCE: The Economic Times
India’s gross domestic product (GDP) grew at a lower-than-expected 7.3% in the September quarter while the gross value added (GVA) increased only 7.1% despite a massive push from government spending, according to Central Statical Office data released on Wednesday. With the recent industrial production data and October core-sector figures reflecting continued sluggishness in mining and electricity — and to some extent, manufacturing — it is clear that demonetisation put a spoke in the economy’s wheel when it was anyway struggling to accelerate.
Seen from the output side, growth rates reduced in a broad-based manner in the second quarter of the FY17 over the first quarter (which saw GVA expand 7.3%); agriculture and construction saw minor improvements, though. Given the grim economic forecasts for the third and fourth quarters of this financial year by many analysts and rating firms citing the prevailing acute cash crunch that might not ease soon, it mustn’t be a solace India still remained the fastest-growing large economy — China’s GDP expanded 6.7% in the September quarter. What portends bad days ahead is that both private consumption and overall investment have ceded their shares in GDP in Q2FY17, the latter massively: Gross fixed capital formation (GFCF), the closet proxy for investment, had been contracting since Q4 of last year. On an annual basis, it fell 1.9% in Q4FY16, 3.1% in Q1FY17 and a steep 5.6% in Q2FY17. Clearly, investments are in the doldrums, despite government doing its bid by upping capital investments in highways, ports and railways.
So it now seems more incumbent on the government to continue to pep up demand via its own spending: While the expected windfall receipts of Rs 1.5-2 lakh crore from the Reserve Bank of India and tax revenue from back money holders could improve the government’s balance sheet, a stuttering economy is a threat to it. For the first time in eight quarters, nominal GVA growth, however, touched double digits in Q2FY17, after coming very close to it in the previous quarter. From a trough of 5% in the second quarter of 2015-16, the improvement in the nominal GVA has risen to 11.3%, having witnessed a steady expansion.
Some analysts said this suggested a crucial improvement in underlying economic activity, especially in times of a wedge between the wholesale and retail price indicators; however, the sustainability of this uptrend is doubtful so long as government spending continued to be the main growth driver. Chief economic adviser Arvind Subramanian said: “There is good news in the sense that real GDP growth has picked up, so there is a kind of steady improvement. There is some indication of some improvement in underlying strength in the economy which is reflected in the fact that nominal GDP growth has accelerated.” On the impact of demonetisation in the third quarter, Subramanian said it would be subject to a considerable amount of uncertainty. Government final consumption expenditure (GFCE) grew 18.8% in Q1FY17 and 15.2% in Q2FY17. In fact, GFCE share in GDP increased a massive 2.2 percentage points to 13% between Q1FY16 to Q2FY17. However, it looks difficult to keep this growth rate. The Centre’s capex (Plan and non-Plan) has already declined 12.81% to R1,24,959 crore in April-October of FY17 against R1,43,329 crore in the year-ago period.
FY17 GDP growth forecast after the recent scrapping of 86% of the currency notes in circulation varied from an abysmally low 3.5% to a respectable 7.3% (compared with 7.6% in FY16). After the release of the Q2 data, former chief statistician Pronab Sen pegged the figure at around 6.5%. While private consumption has been dealt a blow by demonetisation, investment prospects seem even gloomier than in the September quarter, he added. Sen said while the kharif crop volume is expected to be higher than a year earlier, the drop in farm commodity prices following demonetisation has to be factored in while estimating farm sector growth in the quarters to come. When the Q1 GDP data came in at 7.1% (on real GVA growth of 7.3%), sharply lower than 7.9% in previous quarter, government managers said the fall in growth was on account of higher subsidy expenditure, but in Q2 GDP growth outpaced GVA (7.1%) as subsidy outgoes were curbed and tax receipts remained buoyant.
According to DK Srivastava, chief policy advisor, EY India, “The fall in the growth of manufacturing, electricity and services is particularly disappointing. This may be due to continued weakening of investment demand and near-stagnation of export demand. Post-demonetisation, we expect a further weakening of the growth prospects, particularly in sectors which have a higher share of informal sector such as agriculture, construction and some service sectors.”
Although both the GDP and the index of industrial production (IIP) are different indicators — the former also captures value addition other than output — the divergence in the growth estimates for manufacturing continues to be stark. While gross value addition in manufacturing grew 7.1% in the September quarter from a year ago, the IIP data showed the sector’s output contracted 0.9% during the quarter. Discrepancies — the difference between the supply and demand side of GDP — rose to R34,059 crore between July and September from R26,232 crore in the previous quarter. However, it remained sharply lower than a massive R1,43,210 crore witnessed in the last quarter of 2015-16, which had caused a flutter then and raised doubts about the credibility of data collection mechanism.
Sunil Kumar Sinha, principal economist at India Ratings & Research, said: “(The Q2 GDP and GVA numbers themselves) would have warranted a re-look at the GDP/GVA growth of the FY17. And now (with demonetisation), the GDP/GVA growth will be much lower than our forecast of 7.8%. There are several areas of concern namely mining & quarrying, electricity, construction and even trade, hotel, transport and communications. Ind-Ra believes manufacturing growth during 2HFY17 will be much lower (than 8.1% in H1).” CII director general Chandrajit Banerjee said: “The demonetisation move will act as a temporary setback to growth in the coming quarter but CII expects a rebound in investment, going forward, as the government is taking decisive measures to bring transparency in the system and is committed to improve the investment cycle.”
SOURCE: The Financial Express
Fiscal deficit in the first seven months of 2016-17 reached the Rs 4.23 lakh crore mark, or 79.3 per cent of the budget estimate (BE) for the whole year.The fiscal situation in April-October worsened over the year-ago period as the deficit then stood at 74 per cent of BE. Fiscal deficit, the gap between expenditure and revenue for the entire fiscal, has been pegged at Rs 5.33 lakh crore, or 3.5 per cent of GDP, in 2016-17. As per data released by the Controller General of Accounts, tax revenue came in at Rs 5.30 lakh crore, or 50.3 per cent of the full-year BE of Rs 10,54,101 crore.Total receipts from revenue and non-debt capital of the government during the first seven months read Rs 7.27 lakh crore. The government’s Plan expenditure during the period came in at Rs 3.41 lakh core, 62 per cent of the full-year BE. During the same period last year, the government had managed to achieve 58.2 per cent of Plan expenditure estimate. The non-Plan expenditure during April-October of 2016-17 was Rs 8.09 lakh crore, or 56.7 per cent, of the whole-year estimate.The total expenditure (Plan and non-Plan) was Rs 11.50 lakh crore as against the government’s estimate for the current fiscal at Rs 19.78 lakh crore. The revenue deficit during the seven months stood at Rs 3.27 lakh crore, or 92.6 per cent of BE for 2016-17.
SOURCE: The Financial Express
The single-tier system of duty relaxation under the proposed mega trade deal RCEP will be the central issue to be discussed at the next round of negotiations of 16 countries, including India and China, in Jakarta from December 5. Under this system, the Regional Comprehensive Economic Partnership (RCEP) member countries will deliberate on finalising the maximum number of goods on which duties will either be eliminated or reduced drastically. "The technical level meeting will start from December 3 itself. But at the chief negotiators level, it will start from December 5 in Indonesia," an official said. This will be a crucial meeting of the RCEP. Members have agreed to a single-tier system of tariff relaxation. Issues related to services and investments would also be deliberated upon among the members.
Regional Comprehensive Economic Partnership (RCEP) is a mega trade deal that aims to cover goods, services, investments, economic and technical co-operation, competition and intellectual property rights. As the domestic industry has apprehensions over a deluge in imports from countries such as China after the duty cut under the agreement, India wants certain deviations for such countries. Under deviations, India may propose a longer duration for either reduction or elimination of import duties for such countries. India already has implemented a free trade agreement with ASEAN, Japan and South Korea. On the other hand, the country is negotiating similar pacts with Australia and New Zealand. The talks for the pact started in Phnom Penh in November 2012. The 16 countries account for over a quarter of the world's economy, estimated to be more than USD 75 trillion. The 16-member bloc RCEP comprises 10 ASEAN members (Brunei, Cambodia, Indonesia, Malaysia, Myanmar, Singapore, Thailand, the Philippines, Laos and Vietnam) and their six FTA partners -- India, China, Japan, South Korea, Australia and New Zealand.
SOURCE: The Economic Times
A meeting of the Kyrgyz-Indian Inter-governmental Commission for Trade, Economic, Scientific and Technical Cooperation took place in Bishkek on November 28, the Kyrgyz Economy Ministry said. The meeting discussed issues of bilateral relations, which will help Kyrgyzstan and India to boost cooperation in trade and investment, mining, textiles, agriculture, standardization, information technology, pharmaceuticals and healthcare, culture and tourism, education and science. Kyrgyzstan is particularly interested in increasing bilateral trade and learning India’s experience in the development and promotion of export. The parties agreed to cooperate in agriculture by creation of joint ventures for production and processing of fish in Kyrgyzstan, exporting Kyrgyz honey to India, and introduction in Kyrgyzstan of India’s latest agricultural bio technology and bio security methods.
Textiles is another important sphere of cooperation. The sides agreed to hold a first meeting of the Kyrgyz-Indian working group on textile cooperation in the first quarter of next year. The Indian side proposed to organize exhibitions of Indian textiles in Kyrgyzstan, and cooperate in the exchange of expertise and technology, and information about production and export in the textile sector. In the healthcare sphere, the Kyrgyz side expressed its gratitude to the government of India for the establishment of mutual relations in telemedicine in July 2015. The sides agreed to effectively use such relations for holding consultations, remote demonstration of complicated surgeries, and continuous medical education.
SOURCE: The Times of Central Asia
India would be among the first to approach the Donald Trump administration with a complete dossier of all the issues that New Delhi has been engaging with the Obama administration, commerce and industry minister Nirmala Sitharaman told ET. India will talk on totalisation, pharma, IT and visa fee issues since it is concerned about the US’ move to drastically hike the H-1B and L-1visa charges, which is estimated to quadruple the Indian IT industry’s annual visa costs to $400 million. "I would continue to have the same approach of talking to the US because India is a very big market. They can’t ignore us. They shouldn’t ignore us in the sense that we are the only economy with the growth potential that we have.
The US can’t but engage with India on our strength. I’m not assuming that they should, but our strengths are such that they should engage with us," she said. In 2015, total India-US trade was over $109 billion. Sitharaman said the US' decision to withdraw from its regional trade agreement, Trans Pacific Partnership (TPP), will not affect India's negotiations with 16-member Regional Comprehensive Economic Partnership (RCEP) trade bloc. "I agree there are seven members in RCEP who are also members of TPP. But that doesn’t take away the importance of RCEP and the discussion will go on. It is going on. I think we are getting closer. So, RCEP should go on and I don’t see that getting affected adversely," Sitharaman said.
US president-elect Donald Trump has announced to pull out from the 12-member mega trade deal and whose impact on India would be mixed, according to experts. While some expect RCEP talks to fast forward and complete soon without much pressure from the common members, others suggest India to not hurry with the talks. "India shouldn’t feel relieved that TPP is not getting signed. It must complete RCEP as soon as possible," said a Delhi-based expert. RCEP comprises 16 countries including 10 members of Asean plus China, Japan, South Korea, Australia, New Zealand and India and the minister’s statement comes before the next round of talks in Indonesia later this week.
SOURCE: The Economic Times
The demonetisation drive has adversely impacted India’s border trade with Bhutan, Delhi’s closest neighbour in South Asia.Farmers and exporters in Bhutan’s Phuentsholing town bordering India have been badly hit following the currency ban. Cardamom and potato supply from Bhutan to India has dropped drastically as Indian traders are struggling to make payments in cash, informed sources said.Indian currency is used as a legal tender in Nepal and Bhutan. Phuentsholing is the main land border entry point between India and Bhutan. Sufficient cash is not available for the export-oriented businesses in Phuentsholing market, sources said. Most of the transactions on the border are cash-based.
SOURCE: The Economic Times
Ghana government has extended support for the establishment of a textile factory in the North Savanna Ecological Zone (NSEZ) of the country. Appreciating the initiative of Savanna Accelerated Development Authority (SADA) to set up the textile factory, Ghana president John Mahama said that the country has potential to further develop its textile business. The new textiles factory will be built by SADA, in collaboration with China National Textiles and Apparel Council (CNTAC), in Kumasi city, one of the largest metropolitan areas in Ghana. Mahama extended his support for the Kumasi based project when a 10-member delegation from CNTAC visited him in Accra after signing two Memoranda of Understanding (MoU) between SADA and CNTAC. One of the MoUs included development of a framework for the establishment of cotton and textiles project in NSEZ, Ghana news media reported.
Ghana government had established SADA to develop Savannah Ecological Zone and SADA is authorised to lead the comprehensive development of Ghana's savannah zone and represent government in joint ventures, said Mahama. Identifying the potential of the country in cotton production, Mahama said that CNTAC cotton and textiles project is just the start for big things to happen in the industry. This project can become a gateway to Economic Community of West African States, said vice president of CNTAC, Xu Yingxin during the delegation's meeting with Mahama.
SOURCE: Fibre2fashion
Bangladeshi readymade garment (RMG) companies are required to add more value to their product range by adopting the latest technology for achieving the US$50 billion export target by 2021, a sector expert has said. "By exporting only plain garments it will be difficult for Bangladesh to continue its growth in garment exports," Indian textile printing expert Narendra Dadia said. "The target is not so easy, but achievable. The RMG manufacturers should multiply the profit for their products ensuring the highest quality by adopting new technology," he told the Financial Express in an interview prior to launching the Bangladesh operation of his company, Dhaval Color Chem (DCC) print Vision LLP at a city hotel on Tuesday. Mr Dadia is the chairman of the Indian company, which provides textile printing solution to several countries. The company provides digital textile printing, sublimation digital printing, screen textile printing solutions and training to the clients. Headquartered in Mumbai, the company was established in 1978. The company has already established a facility in the capital's Banani area for exhibiting the printing technology for garments industry. It will also provide technology, training and everything required for textile printing.
Mr Dadia said Bangladeshi garment entrepreneurs can get benefit from the DCCs operations through sharing the experience directly by visiting the facility, where they can also collect the sample, and get firsthand experience. Asked about the motivation behind the DCCs operation in Bangladesh, he said, "Following our visit and discussion with some prominent Bangladeshi RMG brands, we observed there were lot of scopes for further improvement, especially in value addition for printing." He also said geographical location and cultural similarities between Bangladesh and India have inspired his company to start its operations. "We came into Bangladesh for not merely making profit. We want to be a development partner of the country," he said.
Regarding the investment in the country he said: "Our initial investment is huge, we shall invest more and employ human resources according to the requirement." Lauding Bangladesh's success in garments export, the businessman said the global garment industry is quite big, where Bangladeshi ventures are still flourishing. "The sector is competitive. You must stay updated to sustain in the sector." He said. Referring to the DCC's success, he said one needs to be professional, share the knowledge, accept the challenge and get updated with the changes.
SOURCE: The Financial Express Bangladesh
Pakistan witnessed 2.62 percent growth in exports of readymade garments about 9,657 thousand dozen worth US$ 698.403 million during first four months (July-October) of current financial year as compared to exports of 9,934 thousand dozen valuing US$ 680.567 million in the corresponding period of last financial year. During last four months bed wear exports also grew by 4 percent as country earned US$ 707.366 million by exporting about 115,321 metric tons of bedwear. The bedwear exports during first four months of last financial year was recorded at 106,437 metric tons valuing US$ 680.183 million, according to the data of Pakistan Bureau of Statistics,
Meanwhile, exports of madeup articles increased by 0.36 percent as country earned US$ 203.372 million by exporting the madeup articles as against US$ 202.64 million of same period of last year. It may be recalled that textile exports from the country witnessed positive growth of 0.59 percent during the month of October 2016 compared to the same month of last fiscal year. The commodities that contributed in the positive growth of textile sector included knitwear, exports of which grew by 4.89 percent by going up from US$ 187.609 million during October 2015 to US$ 196.781 million in October 2016. During October 2016 textile exports were recorded at US$ 1.053 billion compared to the exports of US$ 1.047 billion during October 2015.
SOURCE: Yarns&Fibers
The UK government has today been called on by a coalition of ethical fashion producers and retailers to maintain tariff-free access for African goods after Brexit. The request comes as an attempt to strengthen the nascent African garment and footwear industry, which has the potential to become a major ethical source for the UK market. They presented a compelling business case for trading sustainably and ethically in Africa, at an event organised by Proudly Made in Africa and Soul of Africa at the House of Lords, which would allow individuals and communities to trade their way out of poverty, and also improve performance in product supply chains at the same time.
As UK and European retailers and brands seek to innovate and strengthen their market position by diversifying existing supply chains, Africa’s growing garment and leather industry provides a new source for ready-to-wear garments, shoes and fashion accessories. That potential is very much yet to be fulfilled and companies and brands that engage early will gain a competitive advantage, while helping to realise the promise of a vibrant ethical fashion sector in Africa that creates jobs and brings sustainable development. “The rapid growth in many African economies offers opportunities for greater sustainability in our value chains and there is a creative industries sector that adds value to African natural resources rather than exporting them raw. This creates job, skills and livelihoods in African countries so that the benefits of production are shared along amongst all those involved. For UK retailers this can render value-chains shorter, more manageable and more transparent, and will create new business opportunities.”
Fashion goods from Africa currently benefit from a tariff free access to the UK market as part of the EU trade policy, which makes them significantly cheaper than products imported from Asia (for example, African goods have a 12% advantage over Chinese items). Proudly Made in Africa, a non-profit that facilitates trade between ethically produced African products and European retailers, makes a series of recommendations for the UK’s trade policy with Africa after Brexit in a policy paper published today, “A Stitch in Time.” Fair trade expert Albert Tucker, Trustee of Proudly Made in Africa and former Managing Director of Twin Trading, said: “The zero tariffs and zero quotas regime is now at risk with Brexit. It is essential that the tariff free market access be maintained for African fashion products as it makes the crucial difference for the African supply chains engaging international buyers. “Proudly Made in Africa calls on the UK government to send a clear signal to traders by committing now that when entering the UK, products from sub-Saharan Africa shall face no worse conditions than at present. Brexit can present an opportunity to implement a trade policy that will incentivise UK retailers and brands to engage actively with the nascent African fashion industry in a way that will also advance the UK international development agenda.”
Soul of Africa, which co-organised the event, presents the perfect success story of a profitable social enterprise making shoes in Africa and selling products globally while contributing to the development of the communities where it operates. Lance Clark, Founder of Soul of Africa and former Managing Director of Clarks Shoes, said: “Pursuing the idea of giving people the means, the ambition, the pride to help themselves, setting up a quality shoemaking enterprise in Africa was an obvious option for me.” For European buyers, sourcing from Africa is good for business and presents an opportunity to engage customers with ethical products that help enhance brand reputation. Andreas Streubig, Sustainability Division Manager with German retailer Otto Group, highlighted the opportunities and challenges of sourcing sustainable goods from Africa-based suppliers. “Increasing the textile value creation would be important for Africa. More than that: it’s an imperative to improve the overall situation of the people, as the textile industry is a pioneering industry that paves the way for others. But we must also be realistic. The basic conditions are still very challenging and some preconditions of textile mass production are still weak or even missing. Hence both sides – western buyers as well as African suppliers – have to learn how to cope with the status quo and work together in an atmosphere of understanding, patience and eagerness to learn and develop.”
Representing the other side of the value chain, Nebil Kellow, Managing Director, Enterprise Partners (Ethiopia), a social enterprise facilitating market development to create jobs and raise income for Ethiopians, explained the potential that exists in Africa for the global textile industry. “Africa’s lions are on the industrial march. As China transitions towards higher value-add in manufacturing and services, what we are also witnessing is the beginnings of structural transformation across the continent, whose educated youth are eager for jobs and ready to take up the mantle.”
SOURCE: The Blue & Green Tomorrow
Bangladesh's manufacturers are upbeat about exports as companies are exploring opportunities in the overseas markets while international buyers have started considering the country as a key manufacturing hub. “If we have patience and can explore opportunities we will be able to grow in all segments, not only in just garments,” said Ahsan Khan Chowdhury, chairman and CEO of Pran-RFL Group. “We don't have enough raw materials. But I strongly believe Bangladesh will become a raw material processing hub and finished goods producer in the years to come, thanks to the competitive nature of the exporters and the government's favourable policies.”
Reaz Uddin Al-Mamoon, managing director of Epyllion Group, a leading garment exporter, said exports have been good in 2016 and the growth will continue its pace in the coming years. Despite a gloomy global economy, Bangladesh's exports increased 13 percent per year in the last decade, according to the World Bank. However, 80 percent of its exports remained concentrated in garment, mostly low-value items.
Bangladesh needs to continue to grow its exports by improving the mix and quality of its apparel products, as well as diversify into new labour and skills intensive industries, such as footwear, light engineering and electronics, the WB said last month. Mamoon of Epyllion Group said companies, which are relocating factories from China because of rising cost of production there, are also placing orders in Bangladesh. Besides, because of the unrest in Turkey a lot of orders are being diverted to Bangladesh. Mamoon also said the uncertainty that surfaced following the Holey Artisan attack in Dhaka has disappeared. “Recently, a team from the European parliament has visited my factory, and we had fruitful discussion. They are positive about Bangladesh.” He said a bright future awaits Bangladesh's garment sector. “But we have to have right infrastructure in place. If we can ensure that, we can grow a lot. We know the government is aware of the energy crisis. We hope we will be able to see a positive result.” Mamoon, however, said the acute gas crisis is a serious problem for exporters. “Factories are being forced to use diesel because of the gas crisis. As a result, the cost for fuel has gone up by three to four times. We can't remain competitive by using diesel,” said Mamoon. He also said skilled human resources are going to be the key factor for the country to raise exports. “Our education system has to be linked to areas where we have growth prospects.”
Epyllion has been engaged in manufacturing and exporting knit apparel items since 1994. The company is renowned for its high quality products and efficient management. It exports to more than 10 countries, including Germany, the UK, the Netherlands, Sweden, France, the USA, Mexico and India. Currently, it has seven factories which employ more than 15,000 workers. The company plans to open a new factory by 2018 which will create another 4,000 jobs. Its annual turnover is $200 million. Another leading exporter, Md Saiful Islam, managing director of Picard Bangladesh, said the country needs to diversify its exports. He said, as per the government's Seventh Five-Year Plan, diversified products should be 30 percent of the total exports, instead of 18 percent at present. He said leather products have huge prospects if those are environment-friendly. “We have our own raw materials, good craftsmanship and competitive advantage. So, the leather goods and footwear sector have a bright future,” he said. Picard Bangladesh is one of the few companies which are trying to diversify Bangladesh's export basket. Picard is operating in an area where Bangladesh is not a major player. Picard, a joint venture between Picard Lederwaren Gmbh Co & Kg and its Bangladesh counterpart, produces for brands such as Sportscraft, Saba, Oxford, JAG, David Jones and Lloyd. A pioneer in producing consumer leather goods, Picard exports to around 20 countries, including Germany, Italy, Lithonia, Australia, Singapore and Japan.
Amrita Makin Islam, deputy managing director of Picard Bangladesh, said, as China moves away from the manufacturing of basic consumer goods, Bangladesh can attract a major portion of the orders. Additionally, due to the scarcity of tanneries in competing manufacturing countries like China and Vietnam, Bangladesh has the unique advantage of being a major producer of leather, she said. China-based manufacturers are looking to Bangladesh to relocate their factories, she added. Picard currently produces 32,000 bags and 40,000 pieces of small leather goods per month. It employs 1,800 workers, according to the company's website. Leather goods exporters also say they would be able to attract more global buyers as there are many Bangladeshi factories which are already compliant and more and more local producers are following suit. Pran-RFL Group is already the market leader in the processed food and plastic segments in Bangladesh and has now set its sights on becoming a global leader. Chowdhury of Pran-RFL Group said exporters are already working to diversify products and export destinations. “The food processing sector is doing well. Light engineering and plastic sectors have bright prospects. Our bicycle exports are also growing.”
Pran-RFL Group is exploring the African and Oceania markets. The company recently took part in a construction materials fair in Dubai where it received a good response. “In the coming years, we will export kitchen sink and plastic doors,” said Chowdhury. The company's exports, which started off with puffed rice and chanachur several years ago, stood at $184 million last fiscal year. The group's employee count is 84,000, which is considered the highest in Bangladesh. According to the WB, Bangladesh can become an export powerhouse like its East Asian neighbours by improving its business competitiveness and trade regime, which will help firms compete globally. With rising labour costs in East Asian countries, investors and buyers are now turning to South Asia, including Bangladesh. With more than two million youths entering the labour market every year, Bangladesh needs to act now to seize the opportunity and create more jobs, said the lender. Epyllion Group and Picard Bangladesh won the prestigious HSBC Export Excellence Awards in 2015 while Pran-RFL won the accolade in 2012. The international bank will organise the sixth edition of the awards on Saturday.
SOURCE: The Daily Times
The representatives of industrial and trade bodies urged registered members and other industrial units and exporters to enhance exports of traditional and non-traditional products. This will increase amount of foreign exchange earnings, helping Pakistan compete with neighbouring countries well. Pakistan is the gateway to three important economic blocks of countries, with Karachi providing access to traders to bring goods into Pakistan. The merchandise is sold or re-exported to these three blocks of countries, namely Iran-Turkey, South Asian Association for Regional Cooperation countries and the states of the former Soviet Union. Agha Saiddain, senior executive member of Pakistan Tanners Association, said by increasing trade and economic activities with other business partners, Pakistan could prosper on a sustainable basis. The Association was impressed by the amount of tonnage this port could carry, especially given it was a channel and not technically sea. Exporters showed immense interest in the potential of investing and warehousing near the port to enhance export and import activities.
Pakistan Yarn Merchant Association senior member Ghulam Rabbani said, "We invite investors to come and spend in various fields and in the people of Pakistan and hold talks with representatives of trade and business. We want to have fair access to American markets. There are presently certain American and international rules and regulations that are discriminatory and based on quotas, where Pakistan is getting lesser share of trade that it deserves, being resourceful with large consumer market." There is a dire need for better use of Port Qasim into a free trade and green zone that would promote shipping and trading activities manifold. In this regard Karachi Chamber of Commerce and Industry (KCCI) and Houston Karachi Sister City Association (HKSCA) are engaged, said senior member KCCI Sanaullah Khan. Better bilateral trade relations between Karachi and Houston are in Pakistan as well as USA's interests. Senior member HKSCA Muhammad Saeed Sheikh said Port of Houston Authority is the busiest port in the United States in terms of foreign tonnage, second busiest in the United States in terms of overall tonnage and thirteenth busiest in the world.
Urgent out of the box solutions were needed for duty free imports of Pakistani textile products, particularly garments, towels, bedsheets and other textile made-ups without waiting or completing the process of FTA/BIT as duty free imports have been allowed to various countries by USA. "We remain focused on building strong business linkages between the business communities of other countries," Jawed Bilwani of Pakistan Apparel Forum said. But there were reportedly delays in getting USA business visas by Pakistani traders and exporters, which reduces trade opportunities over time. KCCI was playing an active role in strengthening the foundation of business community to effectively meet the challenges of today and tomorrow and to promote trade and industry in Karachi and elsewhere, maintaining its distinction of being the 8th largest chamber in the world and leading Chamber in Pakistan and the sub-continent.
SOURCE: The Daily Times
A delegation of Italian businessmen including President Association of Italian Textile Machinery Manufacturers (ACMIT) to visit Pakistan from 4 to 7 December. The delegation during its stay will visit Lahore and Islamabad. This was disclosed by Ijaz A Khokhar, Central Chairman Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA). The Italian delegation will be signing a Memorandum of Understanding (MoU) between Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) and Association of Italian Textile Machinery Manufacturers (ACMIT) for mutual cooperation to enhance trade and investment. Ijaz further stated that the proposed MoU will be supportive in getting a partner in Italy, help in exchange of technology and facilitate in business development in Italy and strengthening business cooperation between Pakistan and Italy. PRGMEA chairman said that Free Trade Agreement (FTA) between Pakistan and Turkey will open new venues of business opportunities especially for textile and leather sectors.
The Turkish garment sector was producing highly advance products and FTA will provide an opportunity to Pakistani garment sector to gain the experience of Turkish firms in further improving their products. Ijaz said that PRGMEA was making adequate efforts for developing close contacts with Turkish associations. PRGMEA was taking revolutionary steps for tracking the industry modern production lines enabling it to compete with international market easily. PRGMEA will be also taking drastic steps for the promotion of entrepreneurship and female and male students of fashion designing institutes would be trained under this programme. Ijaz further revealed that necessary arrangements are being finalized for setting up state of the art Pakistan Readymade Technical Training Institute costing over Rs 125 million and development work on institute will soon be carried out.
Pakistan Readymade Technical Training Institute after regular functioning will help the exporters engaged with readymade garments industry to induct trained workforce to improve the overall productivity and quality of the product. There are wide and bright chances of increase in textile products, Ijaz suggested that federal government should prepare marketing plan with the active consultation of trade bodies including PRGMEA for capturing traditional and non traditional markets too.
SOURCE: Yarns&Fibers
The China National Cotton Reserves Corporation (CNCRC) will become a wholly-owned subsidiary of China Grain Reserves Corporation (Sinograin), the state-owned Assets Supervision and Administration Commission (SASAC) has announced. CNCRC is a state-owned company which purchases cotton as a reserve stock, and later sells in market at pre-announced prices. “CNCRC will no longer be under the direct supervision of SASAC,” the statement from SASAC said. The merger is part of the reorganisation of state-owned companies in a bid to reduce costs, raise efficiency and make them more competitive.
SOURCE: Fibre2fashion
Apparel chains such as H&M, Zara and Forever 21 conquered the retail world by promising fast fashion: cheap, trendy and disposable. Yet there’s a growing number of consumers this holiday season who want just the opposite. Data shows that shoppers — especially millennials, the target market for fast-fashion companies — are increasingly looking for clothes made of higher-quality materials or they’re keeping their existing clothes longer. Some are even seeking apparel that’s been reused or recycled.
More than 14 per cent of US consumers looked for apparel and accessories made from natural materials in 2016, up from 12.9 per cent last year, according to a Euromonitor International survey. Shoppers looking for clothes that were reused or recycled rose two per cent this year. And more millennials looked for “sustainably produced” apparel and accessories than any other age group. This shift to so-called sustainable clothing is threatening the underpinnings of a fashion industry that wants consumers to rapidly change styles and move on to the next hot trends. “Certainly fast-fashion companies are doing a booming business, but there’s also an increased interest in vintage, learning how to sew and weave, and in repair and mending,” said Susan Brown, a fashion expert who serves as associate curator of textiles at the Cooper Hewitt Smithsonian Design Museum. “There’s the Brooklynisation of the world — interest in higher-quality, handmade things that have a narrative story.”
The challenge may come earlier than big retail chains expect. Consumers are more willing to shop at niche, smaller companies this season, according to Deloitte LLP. Some of these retailers tout sustainable premiums for longer-lasting, higher-quality products —think, Zady or Everlane. “People want to buy trends less and less,” said Jennifer Baumgartner, a clinical psychologist and author of You Are What You Wear: What your Clothes Reveal About You. “It seems they’d rather buy items that are classic and will last a long time. The movement is happening, and it’s been gaining ground in the public eye.” She said it’s going to be difficult for the fast-fashion concept to use high-quality, eco-friendly fabric and not create “mass waste”. But fast-fashion companies are trying to respond. In 2013, H&M launched a worldwide garment-collecting initiative encouraging consumers to reuse and recycle their clothes. The chain also sells a “conscious collection,” a clothing line created entirely from sustainable materials. Zara launched its first sustainable line, Join Life, in September. The collection consists of simpler designs and clothing made from recycled wool, organic cotton and Tencel — a fabric that includes regenerated wood.
SOURCE: The Business Standard
The world’s first outdoor apparel prototype to feature synthetic spider silk touched down in New York. At a press event held at The North Face global flagship on Fifth Avenue Tuesday night, The North Face Japan and biotech start-up Spiber unveiled the Moon Parka in the U.S. — a novelty item being touted as the world’s first prototype created with Spiber’s synthetic spider silk material Qmonos using existing industrial manufacturing equipment. It serves as physical incarnate of Spiber’s bioengineered proteins mimicking spider silk and the first step toward commercial production of the sustainable fiber.
Spiber first unveiled the Moon Parka in collaboration with The North Face Japan late last year. The parka combines Spiber’s synthetic material with the design of The North Face Antarctica Parka, and a luminescent sheen attributed to the undyed color of the Golden Orb-weaver’s silk, which Spiber has dubbed “Moon Gold.” The prototype has been touring various North Face stores in Japan as proof that the fibers Spiber created can withstand existing industrial machinery. “Spider silk is the toughest material that is known, either in nature or otherwise,” said Daniel Meyer, marketing executive in the business development department at Spiber. “To boil down the advantages of our technology as simple as possible, it’s a protein material made through a completely biological process like any other protein material; we have the advantage of being able to use a synthetic process to form that material.” That means performance attributes like heat-resistance elasticity, and fiber fineness can all be determined on a molecular level to make the end product (though the final protein of the Moon Parka has not necessarily been decided on yet).
Reducing society’s reliance on petroleum-based materials is also part of Spiber and The North Face’s vision for a sustainable future. Spider silk is a renewable resource that doesn’t rely on fossil fuels and requires fewer chemical dyes when made into a garment. “It’s extremely efficient,” Meyer said. “It’s a fermentation process, so if we want more proteins we just make a bigger tank.” The short-term goal is production and distribution for the Moon Parka. There isn’t a release date for the first wave of parkas yet, but Meyer says Spiber is working with The North Face Japan team and hoping for a date next year. The long-term goal is widespread adoption of synthetic protein materials for industrial use. Spiber has already applied its synthetic spider silk on a seat for a concept car with Lexus that absorbs energy on impact. Though the Moon Parka was the centerpiece of the night, it didn’t travel from Japan alone. Beginning today, the North Face New York flagship and San Francisco store at Jackson Square are launching the Unlimited North Face Japan collection. The full offering includes men’s and women’s jackets and vests, tops and bottoms, equipment, footwear and accessories for a range of products suited for traveling and times of inclement weather in urban environments. Also on site was a permanent patchwork and embroidery shop by Lot, Stock and Barrel featuring a few Japanese Flash Art specialty pieces by tattoo artist Mike Rubendall exclusively for the New York flagship.
SOURCE: The LA Times
