|
Item |
Price |
Unit |
Fluctuation (%) |
Date |
|
PSF |
1199.048 |
USD/Ton |
0 |
1/15/2017 |
|
VSF |
2398.095 |
USD/Ton |
0 |
1/15/2017 |
|
ASF |
1927.17 |
USD/Ton |
0 |
1/15/2017 |
|
Polyester POY |
1235.273 |
USD/Ton |
0 |
1/15/2017 |
|
Nylon FDY |
3303.72 |
USD/Ton |
0.44 |
1/15/2017 |
|
40D Spandex |
4491.9 |
USD/Ton |
0 |
1/15/2017 |
|
Polyester DTY |
2101.05 |
USD/Ton |
0 |
1/15/2017 |
|
Nylon POY |
1601.145 |
USD/Ton |
-0.45 |
1/15/2017 |
|
Acrylic Top 3D |
3477.6 |
USD/Ton |
0 |
1/15/2017 |
|
Polyester FDY |
5500.404 |
USD/Ton |
0 |
1/15/2017 |
|
Nylon DTY |
1488.848 |
USD/Ton |
0 |
1/15/2017 |
|
Viscose Long Filament |
3100.86 |
USD/Ton |
0.47 |
1/15/2017 |
|
30S Spun Rayon Yarn |
3057.39 |
USD/Ton |
0 |
1/15/2017 |
|
32S Polyester Yarn |
1811.25 |
USD/Ton |
0 |
1/15/2017 |
|
45S T/C Yarn |
2666.16 |
USD/Ton |
0 |
1/15/2017 |
|
40S Rayon Yarn |
1956.15 |
USD/Ton |
0 |
1/15/2017 |
|
T/R Yarn 65/35 32S |
2231.46 |
USD/Ton |
0 |
1/15/2017 |
|
45S Polyester Yarn |
3187.8 |
USD/Ton |
0 |
1/15/2017 |
|
T/C Yarn 65/35 32S |
2289.42 |
USD/Ton |
0 |
1/15/2017 |
|
10S Denim Fabric |
1.330182 |
USD/Meter |
0 |
1/15/2017 |
|
32S Twill Fabric |
0.821583 |
USD/Meter |
0 |
1/15/2017 |
|
40S Combed Poplin |
1.156302 |
USD/Meter |
0 |
1/15/2017 |
|
30S Rayon Fabric |
0.660744 |
USD/Meter |
0 |
1/15/2017 |
|
45S T/C Fabric |
0.653499 |
USD/Meter |
0 |
1/15/2017 |
Source : Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.14490 USD dtd. 15/01/2017)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Textile fabrics manufacturer Mafatlal Industries Ltd. (MIL) is eyeing revenue of Rs 1,000 crore, most of which will be driven by sales from the uniforms segment by 2021. The Arvind Mafatlal group company manufactures around 10 crore metres of fabrics per year, of which school and corporate uniform fabrics make up for nearly 50 per cent. A leading daily quoted M.B. Raghunath, president, sales and marketing at MIL as saying that they have drawn up plans to reach sales of Rs 1,000 crore in four years. According to Raghunath, they expect a surge in school uniform fabric volumes in the next four years, for which they have adequate capacities to meet the future needs. He also added that MIL will be selling uniforms for both corporate and schools via an ecommerce website from April 2017. The market size for Indian uniforms is around Rs 12,000 crore and is growing by 10 per cent per year. (AR)
Source: Fibre2fashion
The Centre will very comfortably meet its FY17 fiscal deficit target of 3.5% of the gross domestic product (GDP) thanks to buoyant tax receipts, likely boosted further by the two income disclosure schemes announced in the year. However, it could set a fiscal deficit range as target for FY18 and thenceforth. This is because it’s incumbent on the government to step up spending. Also, the looming uncertainties over goods and services tax (GST) and how economic growth will pick up in the early part of the next year make a case for a slightly flexible target.This will give the government legroom to have a deficit of, say, 3.3% for FY18, instead of 3% required under the fiscal road map announced in the FY16 Budget. However, a senior official told FE that the Centre might still try to adhere to the 3% target for next fiscal. Citing that India’s deficit is one of highest among G-20 nations, RBI governor Urjit Patel recently advised the Centre to cut down on borrowing and augment infrastructure spending. This is because it’s incumbent on the government to step up spending. This is because it’s incumbent on the government to step up spending. Apart from robust tax revenue — especially from indirect taxes — and relatively strong performance on the disinvestment front, the fact that the recently released advance estimate put nominal GDP in FY17 at Rs 151.9 lakh crore, higher than the Rs 150.6 lakh crore budgeted, would also make meeting this year’s deficit target easier. In April-December of FY17, direct tax receipts grew by 12% while indirect taxes grew by 25% over the corresponding period last year. Official data showed that Centre’s excise duty collections rose 43% y-o-y (against 11% growth rate required to meet the annual target) in April-December 2016, helped greatly by higher taxes on petrol and diesel. The annual growth target set in the Budget FY17 for direct and indirect taxes were 12.6% and 10.8%, respectively. As for next year’s fiscal math, both direct and indirect tax receipts are expected to grow at a healthier pace thanks to demonetisation which has forced many entities to disclose a higher turnover than they declared earlier. Separately, steps being taken to scrutinise reported black money deposits of Rs 3-4 lakh crore post-demonetisation are also expected to fetch additional revenue, Sanjay Kumar, senior director at Deloitte, said. There is a high probability that certain items which are now being taxed at rates lower than prescribed for them under the proposed GST regime could be moved up in the Budget itself, an exercise that could yield some extra revenue. “As for next year’s fiscal math, indirect tax collections should continue to drive total tax revenues. Excise duties – the largest component of indirect taxes at 2% of GDP – could, however, suffer if oil prices rally sharply and trigger duty cuts,” said Radhika Rao of DBS Bank. As for expenditure, the emphasis will be as much on boosting consumption as on pepping up investment via capital expenditure, given the urgency of fighting the adverse effect of demonetisation. While some steps have already been announced to boost consumption, more sector-specific measures to reverse the slump in demand are likely in the Budget. Even though the government and RBI are yet to announce how much of the Rs 15.5-lakh-crore scrapped high-value notes have come back to the banking system and the value of extinguished currency could be less than Rs 1 lakh crore, the government is also banking on a possible transfer from the central bank once the liability is nullified. Separately, the PSU disinvestment target could be kept high next year given the string of candidates for strategic sales. The government has already given the approval for strategic sale of nearly 20 PSUs, about which preparatory work is underway. Out of Rs 56,500 crore target from disinvestment, including strategic sale for this year, the government has raised nearly Rs 24,000 crore so far through a mix of buybacks and small stake sales. Unlike between FY13 and FY15, when the fiscal deficits were reined in at budgeted levels by slashing expenditure, the Centre is poised to achieve the 3.5% fiscal deficit target for FY17 even after likely spending Rs 38,000 crore or so more than the Budget estimate of 19.78 lakh crore, sources said. As capital spending would get a boost next year, the Centre could look for more avenues to raise non-tax revenues as it does a balancing act to retain fiscal deficit target at 3%. The NK Singh committee, which is undertaking a comprehensive review of the Fiscal Responsibility and Budget Management (FRBM) Act and the FRBM road map, is likely to give its report to the government for incorporation in the Budget. Given the Modi government’s focus on government spending — which can’t be reined in the election year of FY19 — sources said the fiscal deficit range 3 +/- 0.3% was likely as the target from FY19 onwards.
Source: The Financial Express
Finance Minister Arun Jaitley will tomorrow look to break the deadlock over distribution of powers between centre and states to administer GST, an issue that is holding up launch of the new national sales tax from April. The all-powerful GST Council, headed by Jaitley, will meet for the ninth time tomorrow with the issue of who gets to administer the Goods and Services Tax (GST) being the single biggest issue on agenda. The council has been deadlocked in the last four meetings, the last one being on January 4, with states seeking sole powers to control assessee with annual turnover of up to Rs 1.5 crore. Centre, however, is not in favour of a horizontal split as it feels states do not have the expertise to administer levies like service tax. Jaitley is also not favour of dual agencies auditing and scrutinising each taxpayer as he reckons multiple authorities could end up acting at cross-purposes. Jaitley had last week hoped to resolve the pending issues to get the new indirect tax regime rolling from April 1. “Most of the issues have been sorted out, some critical issues remain and these critical issues over the next few weeks we will try and solve out,” he said last week. “We would want it to be implemented from April if all issues are resolved.” The GST Council is also to discuss the taxation of trade in territorial waters. Also the corpus to be created for compensating states for loss of revenue from GST rollout may figure in tomorrow’s meeting, sources said. The council had in previous meeting agreed on most of the clauses of the draft IGST law, which along with Central-GST (CGST) and State-GST (SGST) have to be passed by the Parliament and state legislatives respectively before the new tax regime can be rolled out. Interated-GST or IGST deals with levy on inter-state supply (including stock transfers) of goods or services. GST will subsume a host of indirect taxes levied by the centre and the states, including excise duty, value-added tax, service tax, entry tax, luxury tax and entertainment tax. The Parliament passed the landmark constitutional amendment in August last year and more than half of state legislatures ratified it by mid-September. According to Jaitley, GST needs to be rolled out latest by September 16, 2017. Under the Constitutional Amendment passed by Parliament for the GST implementation, some of the existing levies would expire after September 16. GST would transform India into a single market, boost revenues through better compliance and simpler procedure.
Source: The Financial Express
The rate of Minimum Alternate Tax has more than doubled from 7.5% in 2007 to 18.5% currently, which is inhibiting manufacturing competitiveness. Expectations are that the forthcoming Budget would delineate a new economic ‘dream’ of a resurgent India which is both inclusive and self-sustaining. There is much anticipation that the finance minister would unravel a momentous Budget which would rejuvenate the growth drivers of the economy. Expectations are that the forthcoming Budget would delineate a new economic ‘dream’ of a resurgent India which is both inclusive and self-sustaining. The macro-economic backdrop of the Union Budget 2017-18 is inspiring. The economy is in a better shape today than it was in the past. In terms of GDP growth, we are much ahead of both the BRICS and other advanced countries, despite growing below potential. GDP growth showed a moderate uptick to 7.3% in the second quarter, as compared to 7.1% in the previous quarter. However, despite steady growth, the inclination of the private sector to make key investments continues to be below potential. Further, demonetisation is widely expected to dent growth during the second half of this fiscal. Already, RBI has pared GDP growth to 7.1% for this fiscal from 7.6% marked earlier. Thus, a key challenge is to bring growth back to the economy. And one way to boost economic growth is to bring manufacturing to the forefront of economic revival—through a fillip to Make in India. The vital role played by the manufacturing sector is well known. No country in the world has grown and created jobs without a strong manufacturing base. India needs around 1.5 million jobs per month and 17-20 million jobs per annum. So, the contribution of manufacturing to GDP can be much higher. In April-October 2016-17, industrial output was down by 0.3%. Industry is working at 75-80% capacity deterring new investment. And the recent cash crunch could further hurt manufacturing performance. Hence, we look forward to a tool box of policies and a focussed strategy in the Budget which would ensure the success of the Make in India campaign. A key consideration is that the rate of Minimum Alternate Tax (MAT) has more than doubled from 7.5% in 2007 to 18.5% currently, which is inhibiting manufacturing competitiveness. To incentivise manufacturing, the Budget should consider withdrawing MAT in a calibrated manner and institute a uniform accounting standard for calculation of profits. If this is not possible, then MAT should be brought down to the level of 7-10%. Similarly, dividend distribution tax (DDT) leads to double taxation of the corporate sector and, hence should be abolished. Alternatively, a basic exemption limit, say 10% of profits/capital may be provided where the company distributing dividend up to 10% is not liable to dividend distribution tax. In particular, developers and units of special economic zones (SEZs) should be provided relief from MAT and DDT, which have discouraged exports. In fact, before the MAT and the DDT were imposed in 2011-12, the growth in exports from SEZs far exceeded the country’s overall merchandise exports. However, export growth has dropped consistently since then. Another area of pivotal interest to investors pertains to the ease of doing business. The government is to be complimented for improving ground-level implementation and simplifying procedures. But much more needs to be done to bring India’s rank within the top-50 in the World Bank Doing Business rankings. Another confidence booster that can be expected from the Budget is reduction in the corporate tax rates. Currently, India’s tax rate for companies compares unfavourably to that of most other emerging economies, so that funds are tempted to avoid the country. The corporate tax rate should be brought down to 18% (all inclusive) to bring it in sync with world standards. Reform in public procurement norms is long overdue to incentivise Make in India especially in items such as defence. With the government being the largest buyer in the economy, the procurement process should be made more efficient, time-bound and predictable. Similarly, there is need to move away from the policy of awarding contracts based on L1 as this often discriminates against vendors with sophisticated equipment. Industry also needs a level-playing field with foreign firms in terms of payment and proven track record norms. The Budget should provide enabling policies which would help creation of 1 million start-ups in the next five years. These should be permitted to comply with regulations through self-declaration for all interface with the state for the first five years. The definition of a start-up can be any firm less than five-years old with no further qualification. And above all, a thrust to manufacturing would remain incomplete unless the government speeds up, on a war footing, the pace of infrastructure development by augmenting investment, both public and private, in roads, new ports, improving logistics and connectivity. For the first time, the Union Budget would witness the merger of Rail Budget and the removal of the Plan/non-Plan distinction. Taking this grand feat forward with the resolve to make the ‘Make in India’ initiative succeed would do wonders to lift sentiment and pave the way for inclusive growth. The author is director general, Confederation of Indian Industry. Views are personal
Source: The Financial Express
Le Tien Truong, general director of Vinatex, the largest domestic textile & garment group,,said 2016 was a very tough year for the industry. “The growth rate of the industry was 5.2 percent, the lowest rate since 2008 with export turnover of $28.3 billion, or $1.7 billion lower than planned in early 2016,” he said. Export growth has been slowing down for textile and garment firms, but the industry has not made a decision to target the domestic market. Truong said this was a problem that all textile & garment exporters are facing as demand from import markets has decreased. The demand from the US, for example, fell by 4.5 percent, Japan 1 percent, South Korea 4 percent. The EU is the only market which saw growth rate of 5 percent. This led to a sharp decline in export turnover of four out of the seven biggest export countries. China, for example, saw the turnover down by 4.5 percent, India 5 percent, Indonesia 5.4 percent and Pakistan 4 percent. Turkey’s export turnover remained unchanged. Only Bangladesh and Vietnam saw the turnover increasing by 4.8 percent and 5.2 percent, respectively. As such, Vietnam has the highest growth rate among the seven biggest exporters. Also according to Truong, Vietnam still has high competitiveness which helps attract more customers. However, because of that reason, Vietnam has become the key rival for the other six competitors. These countries approach clients with Vietnamese business characteristics and offers, but at lower prices,” he said. Truong doesn’t think the market would be brighter in 2017. Bizlive also reported that 2016 was a gloomy year for textile & garment companies as the companies’ shares plummeted in prices, losing up to 50 percent of value. The information about the possible failure of TPP really disappointed investors who are holding textile & garment shares and they tried to sell them away. Vietnamese textile & garment companies have been advised to return to the domestic market once demand from import countries decreases. However, Truong cannot see any bright prospects in the market. “The Vietnamese domestic market is valued at $4.5 billion, while the total production capacity of all enterprises is $35 billion,” Truong said. Other big textile & garment export countries have domestic markets equal to or bigger than export markets. China, for example, has a domestic market worth $270 billion and export market worth $260 billion. Meanwhile, India’s domestic market is three times larger than export market. “Vietnam is different from India, China and Malaysia,” he said, adding that Vinatex still strives to export 90 percent of its products.
Source: VBN
India is gearing up to sign the Transports Internationaux Routiers (TIR), or the customs convention on the international transport of goods, as it eyes seamless trade connectivity with both Eurasian region and Southeast Asia. This will allow India to take full benefit of International North South Transportation Corridor or INSTC, which enables access to Eurasian region via Iran, and Bangladesh-Bhutan-India-Nepal Motor Vehicles Agreement. TIR is the only global customs transit system that provides easy and smooth movement of goods across borders in sealed compartments or containers under customs control from the customs office of departure to the customs office of destination. It plays an important role in boosting regional connectivity and facilitating cross-border trade flows, according to connectivity experts. Since all members of INSTC, except India and Oman, are already signatories to TIR Convention 1975, custom issues and common documentation issues could be quickly resolved if India signs the convention and aligns its system with it, an official said. INSTC links Mumbai with St Petersburg through Iran and Azerbaijan. It is a land- and sea-based 7,200 km long network comprising rail, road and water routes that is aimed at reducing costs and travel time for freight transport in a bid to boost trade between Russia, Iran, Central Asia, India and Europe. It will link South Asia to western and northern Europe. A study conducted by the Federation of Freight Forwarders’ Associations in India showed that INSTC will be 30% cheaper and 40% shorter than the existing routes. The first test shipment between India and Russia through INSTC took place in October last year. Germany has also decided to trade with Iran via this connectivity project. The TIR system operates with certain parameters – secure vehicles or container, international guarantee chain, TIR carnet, reciprocal recognition of customs controls, controlled access and TIR IT risk management tools. These elements guarantee that goods travel across borders with minimum interference en route and at the same time provide maximum safeguards to customs administration. The TIR system has a globally accepted electronic control system for integrated transit operations. Aligning with the TIR system will also enable India to take full advantage of the Eurasian Economic Union (EEU). Negotiations for a free-trade agreement between India and EEU are expected to start early this year, according to officials. EEU, comprising Russia, Kazakhstan, Belarus, Armenia and Kyrgyzstan, have an integrated single market of 183 million people and GDP of more than $4 trillion in purchasing power parity. The TIR system can also make Bangladesh-Bhutan-India-Nepal Motor Vehicles Agreement efficient for sub-regional cooperation on India’s eastern flank.
Source: The Economics Times
Moody's Investors Service and its Indian affiliate ICRA said India will remain one of the fastest growing major economies globally in 2017, although GDP growth will moderate in the first half of the year, as the economy adjusts after demonetisation. Moody's also believes that the government will likely achieve its fiscal deficit target of 3.5% of GDP for the current fiscal year ending 31 March 2017, the international rating agency said in a statement on Monday. ICRA expects the country's growth of gross value added at basic prices to remain healthy in 2017, although such growth will ease somewhat to about 6.6% from around 7.0% in 2016, with a likely pick-up in H2 2017, it said. "Even after the currency in circulation is replenished, we expect that India's economic growth will stabilize with a lag, while remaining strong," said Aditi Nayar, an ICRA Principal Economist. "The adjustment and recovery period could stretch to as much as 2-3 quarters for certain sectors," she said. ICRA said that the focus on digital transactions and the introduction of a goods and services tax (GST) will likely reduce the competitiveness of the unorganised sector. "ICRA therefore anticipates a relatively healthier expansion of the organised sectors in 2017, at the cost of the unorganised sectors," the statement said.
Source: The Economics Times
Welspun Group, a $2.3 billion global conglomerate operating in Home Textiles, Line Pipes and Infrastructure has announced an investment of Rs 4,000 crores for three large textile projects in Gujarat. The three MoUs which are being signed during the ongoing Vibrant Gujarat Summit 2017 were announced by Mr. BK Goenka - Chairman, Welspun Group at the Summit. "Our continuous investment in the state is a testament to our long term commitment to Gujarat. It is our aim to make Gujarat the textile hub of the world. Welspun continues to invest into development of well-researched products and technology of the future and the current investment is in line with this philosophy," said Mr. BK Goenka, Chairman, Welspun Group. Amongst the larger of the three projects, Welspun will invest Rs 2,000 crores in developing an integrated Textile Manufacturing Zone. This will be a part of the Govt. of India's Sagarmala project where Kutch is among the first identified key locations. The company aims to develop a large, modern and futuristic textile industrial complex that will manufacture and supply world class textile products for the global markets. Welspun will leverage on its expertise in developing industrial infrastructures. The Kutch facility will provide a unique ecosystem for entrepreneurs to set up manufacturing facilities. The project will generate direct employment of nearly 5,000 and will provide indirect employment to nearly 15,000 people. Welspun will further invest Rs 1,000 crore in its Technical Textile business for capacity enhancement, addition of new products and training and skill development. Under this vertical, the company has already made its mark with products for specialised use in healthcare, fire departments and other utilities. These products include specialised features such as fire retardants, stain resistant, anti-bacterial, PET resistant, and soil resistance, among others. Most of these products are also recyclable. The project will give direct employment to nearly 1500 people. Another Rs 1,000 crores is being invested in the Advanced Textile arm of Welspun that focuses on manufacturing specialised materials for applications in aerospace, defense and automobile sectors. The project will generate a direct employment of 2000 persons and indirect employment of 5,000.Welspun Group has already invested Rs. 10,000 crore in Gujarat so far and fresh investments takes total investment to Rs 14,000 crores. Welspun's world class facility in Anjar is a global benchmark in the manufacturing sector, employing more than 30,000 people and providing livelihood to over 1 lakh people directly and indirectly. Through its Gujarat facilities, Welspun is the largest exporter to over 50 countries of top rated Home Textile products and Line pipes manufacturer for some of the most challenging projects in the world. These investments will further consolidate Welspun's global leadership position and explore new avenues for its upcoming businesses in Technical as well as Advanced Textiles. Shares of WELSPUN INDIA LTD. was last trading in BSE at Rs.70.6 as compared to the previous close of Rs. 71.45. The total number of shares traded during the day was 212149 in over 1311 trades. The stock hit an intraday high of Rs. 71.7 and intraday low of 70. The net turnover during the day was Rs. 14997853.
Source: Equity Bulls
Viet Nam’s textile and garment industry has targeted a growth in exports of 6.5-7 per cent to US$30 billion this year. Vietnam's textile and garment exports target set at $30b, Vietnam's textile and garment exports target set at $30b Viet Nam’s textile and garment industry has targeted a growth in exports of 6.5-7 per cent to US$30 billion this year. The target was announced by Le Tien Truong, general director of Viet Nam National Textile and Garment Group (Vinatex). Truong said the development of the textile and garment market at home and abroad would continue improving due to growth in the US economy and in consumption in the market. Such conditions would support the domestic textile and garment industry in reaching their target in export values this year. “To reach this target, the industry needs strong performance by enterprises in production and business, and of the state in management by supporting the industry’s development, as well as development of infrastructure in the nation,” Truong told the Vietnam News Agency. Further, the enterprises should improve productivity, reduce time needed to deliver cargo and strengthen distribution systems to international markets. Garment and textile enterprises have received enough orders to keep them busy through the first quarter of this year, he said. He also predicted that this year, Viet Nam’s garment and textile sector will face numerous challenges, including a lack of support in taxation policies, as several important trade deals, such as the EU-Viet Nam free trade agreement and the Trans-Pacific Partnership, will not become effective in 2017. Also, competition will become more fierce, as other countries continue attracting orders thanks to their advantages in tax and exchange rates, he said, adding that the instability in the EU economy will also affect the industry. However, this year, the textile and garment industry will prepare to take advantage of business from the Viet Nam-EU FTA, which comes into effect in 2018, he said. After the FTA is in place, Viet Nam could compete with other countries exporting garments to the EU through the Generalised Scheme of Preferences (GSP), which allows developing countries to pay less or no duties on some exports to the EU. Those countries included Cambodia, Bangladesh and Myanmar. Meanwhile, other bilateral and multilateral trade agreements will bring more opportunities in exporting textile and garment products to small and medium-size enterprises, Truong said. In 2016, Viet Nam’s apparel also saw lower than expected results, with $28.3 billion in exports, up 5.7 percent year on year, Truong added. Vinatex earned over $2.5 billion, an increase of 5 per cent over 2015, with a pre-tax profit of over VND41 trillion on a 5 per cent year on year increase. Also, its employees’ average income rose 8 per cent over the previous year, to reach VND6.7 million per month. Last year was gloomy for the world apparel sector. Major importers, including the US, the EU and Japan experienced low or decreased demand for garment and textile products, he noted. Truong also said that the results showed the great efforts made by the sector, as Viet Nam recorded higher growth than major competitors, such as China, India, Bangladesh and Indonesia. The industry gained strong results because enterprises focused on increasing productivity and ensuring deadlines on delivering goods, he said. Further, the State’s reforms on administrative procedures for saving money and time improved the business environment and created great support for garment exporters by increasing their competitiveness and exports.
Source: Vietnamnet
Garment exports to Germany, the second largest export destination for Bangladeshi apparel after the US, will continue to grow in future due to the high quality of products and competitive prices, German traders said. As a member of the EU, Germany will continue its duty privilege for Bangladesh, said Manfred Junkert, deputy general manager of the Confederation of the German Textile and Fashion Industry, at a press conference on the sidelines of the Heimtextil fair in Frankfurt, Germany on Thursday. Garment exports to Germany have been increasing over the years. Bangladesh exported garments worth $4.65 billion to Germany in fiscal 2015-16, $4.33 billion in 2014-15 and $4.37 billion in 2013-14, according to Export Promotion Bureau. Talking about Brexit, he said it is a serious issue for them as the UK is a big trading partner of Germany. “If the UK leaves us, there is a possibility of serious consequences for Germany,” Junkert said. “Brexit may take a long time to become effective, but our industry will suffer.” The UK is the third largest export destination for Bangladesh after the US and Germany, with Bangladesh shipping apparel worth more than $3 billion to the UK a year. As a trade bloc, the EU is the largest garment export destination for Bangladesh, offering a zero-duty benefit since 1971 under its Everything but Arm scheme. Bangladesh exported garments worth $17.15 billion to the EU in fiscal 2015-16, $15.36 billion in 2014-15 and $14.75 billion in 2013-14, according to EPB. On the Transatlantic Trade and Investment Partnership or TTIP, Junkert said negotiations have stalled now with the change in power in the US. “Usually, signing a free trade agreement takes six to seven years. We may have to wait more than this time to sign the TTIP. It now depends on the US government,” Junkert said. At the press meet, Olaf Schmidt, vice-president of the textile and textile technologies unit of the Messe Frankfurt, the largest trade fair organiser in Germany, said they have plans on hosting fairs in Bangladesh in future.
Source: The Daily Star
HIGH-TECH MOVES:Tsai activated a Twitter account in English, and attended the opening ceremony of the the Executive Center of the Asian Silicon Valley Plan
Staff writer, with CAN Supporters of President Tsai Ing-wen hold a banner reading “Welcome President of Taiwan” outside Tsai’s hotel in San Francisco, while protesters who support unification with China hold up placards behind them.President Tsai Ing-wen believes textiles should be at the heart of Taiwan’s thinking in developing new global trade arrangements and strategies, the Presidential Office said in a statement yesterday. The statement cited Tsai as saying during her recent visit to four of Taiwan’s diplomatic allies in Central America that she judged the textile sector in Central America to have considerable development potential. The countries have free-trade agreements with the US that could be advantageous for Taiwanese manufacturers in the region, she said. With Taiwan Textile Federation chairman Chan Cheng-tien (詹正田) to propose a new strategy for the global development of Taiwan’s textile sector, “this is the time to begin thinking about new arrangements and new strategies, starting with the textile sector,” Tsai said, according to the statement. Tsai made the remarks at a lunch with more than 800 Taiwanese expats in San Francisco on Saturday, according to the statement. Chan was a member of Tsai’s delegation during the overseas tour. Tsai made a stopover in Houston on Jan. 7 and Sunday last week before heading to Central America and arrived in San Francisco on Friday for a transit stop, at the conclusion of a week-long state visit to Honduras, Nicaragua, Guatemala and El Salvador. Tsai opened a new Twitter account on Saturday during a visit to the company’s San Francisco headquarters. At the Twitter headquarters, she met with Twitter general counsel Vijaya Gadde, but CEO and co-founder Jack Dorsey was not present, according to a Reuters report that cited a source at the meeting. Tsai activated a Twitter account in English during her visit. She has a Chinese-language account that she has not used for a few years, Democratic Progressive Party Legislator Pasuya Yao said. Tsai also attended a lunch with Taiwanese expats at the Hyatt Regency hotel near San Francisco International Airport. Some protesters rallied against Tsai’s China stance outside the hotel, while others gathered to show their support for the president. Tsai also attended a ceremony marking the opening of the Executive Center for the Asian Silicon Valley Plan in Silicon Valley on Saturday. Tsai launched the Asian Silicon Valley Plan in September last year in a bid to “connect Taiwan to global tech clusters and create new industries for the next generation.” Tsai said she hoped the center would build links with high-tech companies and research institutions in the area so that high-value supply chains of technology, talent and capital could be created to support the plan’s implementation. The base for the plan’s implementation was inaugurated in Taoyuan on Dec. 25 last year. During the stopover, Tsai also spoke with a few US friends of Taiwan by telephone, Presidential Office spokesman Alex Huang said, but the only person he was willing to reveal was US Senator Cory Gardner. Gardner told Tsai that he asked US president-elect Donald Trump’s nominee for secretary of state — former Exxon Mobil CEO Rex Tillerson — to reaffirm the US’ commitment to Taiwan, based on the Taiwan Relations Act (TRA) and the “six assurances,” during Tillerson’s Senate confirmation hearing on Wednesday last week. Tsai thanked Gardner and the US for their support for Taiwan, and she invited him to visit Taiwan, Huang said.
Source: Taipei Times
South Korean manufacturer of specialty fibres Hyosung participated in the Outdoor Retailer Winter Market 2017 held in the US from January 10 to 12 in a joint booth, with several South Korean small and mid sized companies. Its various business divisions like the nylon polyester division and spandex division introduced new and innovative fibres at the show. The nylon polyester fibre division launched many high functional nylon and polyester fibres, of which Aeroheat is a heat generating polyester that emits thermal energy by absorbing lights with mineral substances to manufacture winter clothing like fleece and leggings. Aqua-X, a nylon fibre is meant for summer outdoor clothing, as it effectively absorbs heat and blocks UV rays, while Robic is a high strength, durable and wear resistant textile yarn for uses in applications like bags, working clothes and sewing yarns. On the other hand, the spandex business division displayed fabrics, manufactured from yarns blended with nylon, polyester and spandex fibres. The division also showcased fabrics blended with odour neutralising spandex fibre ‘Creora Fresh’ and nylon Aqua-X. The division also displayed fabrics combining Aerowarm fibre which features superior sweat absorbing with Creora Power Fit, a spandex with high power and excellent heat resistance.
Source: Fibre2fashion
The interior minister, he said, claimed that the matter of missing persons was not his responsibility. “If it is not his job, then whose responsibility is it to protect the lives and properties of people?” he asked. Leader of the Opposition in the National Assembly Khursheed Shah delivered a scathing verdict on the national economy on Sunday, saying it was in ruins due to unprecedented borrowing. Speaking to media representatives in Sukkur, he said that the federal government could not prolong its political life by telling lies to the people. Rejecting the government’s assertions regarding improving the national economy, he said that the federal government’s claims were untrue. “The national economy is not moving in the right direction,” he asserted. Referring to the record borrowings of the federal government, he wondered who would pay back these debts. In addition to “ compulsively lying to the nation”, Shah said Interior Minister Chaudhry Nisar Ali Khan was acting as if he was the Taliban spokesperson. Directing a query at the federal government, he wondered where ‘Sasti Roti’ and Danish School projects had been phased out. “Please spare the nation … stop raising hollow slogans,” he said. Referring to the scandal of Panama Papers, he said that the Supreme Court needed no further proofs after the BBC report. Expressing concern over the plight of growers, Shah said that the federal government was exploiting them. Thousands of workers had been rendered jobless because of the closure of nearly 50 per cent of textile units, he said. Shah urged the government to announce a relief package for the textile industry without any pre-condition. Shah also wondered what the government was doing to accommodate nearly 100,000 engineers who were returning from Middle Eastern countries. Taking a jibe at the Sharif brothers, he said: “You are not just the ruler of Lahore alone … Therefore, think about the welfare of the people living in other cities and towns of Punjab, including, Mandi Bahauddin, Multan, Faisalabad, Gujranwala, Sialkot and elsewhere.” The government, he said, is responsible for providing basic rights to the people across the country.
Home
Source : The Express Tribune
MAGUINDANAO, Philippines — The provincial government will launch the “Inaul Festival” in February to introduce to international markets a hand-woven fabric that designers find fascinating for its radiant colors and quality. Provincial officials confirmed on Saturday that the yearly Maguindanao “Sagayan Festival,” named after a centuries-old traditional ethnic Maguindanaon war dance, shall be replaced with an “Inaul Festival” featuring the centuries-old loom-weaving industry in the province. The week-long Sagayan Festival every February was pioneered six years ago by the office of Maguindanao Gov. Esmael Mangudadatu, who is now on his third term. Various groups have long been promoting the Maguindanaon Inaul fabric, admired for its quality and colorful accents. The Inaul cloth, just like the Sagayan dance, is a symbol of Maguindanaon culture as the people of the “flooded plains.” The term flooded plains contextually means Maguindanao, the wetlands that connect to the 220,000-hectare Liguasan Delta surrounded by what are now North Cotabato, Lanao del Sur and Maguindanao provinces. Mangudadatu said the Maguindanaon Inaul cloth has potential in export markets. “I hope I can help strengthen very soon the industry through possible interventions my administration can initiate,” Mangudadatu said. There are hundreds of Maguindanaons keeping Inaul loom-weaving alive, a tradition started by their ancestors and handed down through generations. “We’ll have Inaul festival, not the usual Sagayan festival in February,” said Ayesha Mangudadatu-Dilangalen, regional tourism secretary of the Autonomous Region in Muslim Mindanao. The forthcoming Inaul Festival shall be capped off with the same shows, depicting facets of Maguindanao’s Moro, Christian and Lumad communities, that were held during the previous Sagayan festivities.
Source: Philstar Global
TAIPEI -- President Tsai Ing-wen believes textiles should be at the heart of Taiwan's thinking in developing new global trade arrangements and strategies, the Presidential Office said in a statement Sunday. The statement cited Tsai as saying that during her recent visit to four of Taiwan's diplomatic allies in Central America, she found the textile sector in Central America to have considerable development potential. They also had the benefit of having free trade agreements with the United States that could be advantageous for Taiwanese manufacturers in the region. With Taiwan Textile Federation Chairman Chan Cheng-tien to propose a new strategy for the global development of Taiwan's textile sector, "this is the time to begin thinking about new arrangements and new strategies, starting with the textile sector," Tsai said, according to the statement. Tsai made the remarks at a luncheon with over 800 Taiwanese expatriates in San Francisco on Jan. 14 local time.
Source: The China Post
The Pakistan textile exports likely to post 10 percent increase in the first year with clear possibility of doubling textile exports to $24 billion within the next five years with government announcing the country’s biggest export package worth Rs180 billion to enhance foreign trade. The export package would have salutary impact on textile exports. The All Pakistan Textile Mills Association (Aptma) Punjab Chairman Ali Ahsan at a press conference said that before the package was finalised the prime minister had sought commitment from the millers on positive impact of the largest-ever export package. Now the textile industry are in a position to face their competitors with confidence. Ahsan said that till now the industry is surviving on its better efficiencies and despite operating at huge disadvantage against competing economies continued to challenge them in the global market. The package has been prepared with utmost care and every subsector of textiles has been adequately compensated.
Source: Yarn and fibre
The Mexican textile industry must follow many international treaties. However, with the obligation to respect local and global authorities and a responsibility to protect a reputation, ITG works within national and international norms even if difficult. “Mexico is among the two or three countries that has the most trade agreements with the world. This can complicate operations. In our case, fortunately we have the infrastructure to manage the complexities. However, we support national efforts to fight contraband and encourage a fair and open competitive environment,” explained José Manuel González, CFO, International Textile Group in Mexico. The automation of the textile industry in Mexico Under the leadership of its executives, ITG Mexico is going through a process of light modernization. For the remainder of 2015 and the beginning of 2016, ITG plans to upgrade and modernize its equipment to better support its customers and markets “We are very pleased to make this investment to upgrade our equipment in 2015 and continuing into 2016.We believe this will enable us to be even more competitive and a better partner with all of our customers, and we appreciate the support we have received from our banking partners for this important investment,” said the executive. The Mexican ITG buildings hum with the satisfying sound of productivity. The manufacturing processes are agile and efficient because the organization has installed all of the necessary technology to perform its operations. At the same time, it has been careful not to impose technology where it is not necessary, where traditional tools—like manual labor—still do a better job. “Automation is not new to us. We believe proper automation and strong business processes have a positive effect on the production line. A strong focus on technology and continuous improvement are critical to our mission as a company and beneficial to our people,” said Gonzalez. Partner sustainability initiatives ITG honors its guest country, Mexico, by ensuring that it’s protecting the environment surrounding its operations. ITG and its customers, for example, work together to stay at the forefront of standards that protect the environment. “It’s one of our main concerns. We strive to be in compliance with all environmental requirements. In many cases we don’t only comply, we exceed Mexican standards. We are periodically audited by our customers who are also concerned with the environment at a global level, just like we are. At least once a year they come and audit us. They audit our processes. The standards we mutually set for each other are very high,” explained the CFO. In addition to working with its customers to care for the environment, ITG Mexico also does what’s within its power to renew natural resources. In the case of water, Gonzalez admits that textile production uses a lot of water. ITG Mexico takes it upon itself to treat the water and direct it towards sources destined for farming irrigation. ITG Mexico’s efforts related to the environment don’t end there. “Currently, the organization is testing an energy platform with a smaller carbon footprint to include a project of energy co-generation based on natural gas. Two years ago we consumed much more fuel oil. We’ve switched to natural gas for our processes and now are embarking on a project of electricity generation based on nature; cleaner, less expensive energy,” said Gonzalez.These projects are planned to be fully operational by the end of 2016 at Parras de la Fuente and by the second quarter of 2017 in Yecapixtla.
Growth prospects. According to Gonzalez, the outlook for the remainder of 2015, and then for 2016 and 2017 are excellent. ITG’s goal is to maintain their level of production and profits. If it’s possible to grow, said, the executive, all the better. When considering the long-term outlook for the global textile industry, Gonzalez predicts a growing reduction in the number of market players. It’s a market, he suggests, where companies that fail to adapt to remain competitive will disappear or lose market share. “Our market is not only Mexico. It’s international. The Mexican textile industry has already shrunk in the number of market players and I believe it will continue to do so. I think it’s a difficult market in which those that aren’t careful to keep their costs down and don’t discover ways to differentiate themselves are likely to disappear or minimize their operations,” concluded Gonzalez.
Source: Global Manufacturing
The fourth Texprocess, leading international trade fair for processing textile and flexible materials, to take place from May 9 to 12 some four months before the start has reported the highest number of registrations in its history and thus continues its pattern of growth. Even more floor space has been booked than the previous edition had in total. With this fourth edition, Texprocess is now firmly established in the marketplace and is attracting other market leaders in the sector to Frankfurt. The range of products at Texprocess covers all stages in the value-creation chain for textile goods, from design, IT, cutting out, sewing, seaming, embroidery and knitting to finishing, textile printing and logistics To make the profiles of Techtextil and Texprocess even sharper, the bonding and separating technology, CMT (Cutting, Making, Trimming), CAD/CAM and printing product segments will be concentrated together at Texprocess in hall 4.0. Thus, visitors will find Techtextil exhibitors from these segments at Texprocess. These product groups will be deleted from the Techtextil nomenclature. Apart from this change, the overall concept behind the halls at the previous event will be retained: trade visitors will find Design, IT, CAD/CAM, CMT and Printing, as well as the special IT@Texprocess section in hall 4.0. Exhibitors of machines and accessories for sewing and seaming will be presenting their products in hall 5.0 and 5.1; and hall 6.0 will showcase embroidery technology, together with finishing techniques and logistics for textiles. Both exhibitors and visitors at Texprocess will, this year, have the benefit of a rather special experience at the show: under the heading Living in Space, Techtextil will be showcasing the wide variety of applications for technical textiles in space travel, together with the processing involved. This is a cooperative venture between Techtextil, The European Space Agency (ESA) and the German Aerospace Centre (DLR). Close to the location for, amongst others, exhibitors of functional apparel textiles in Hall 6.1, and based on the areas of application for technical textiles, a special, interactive area is to be built to display, with the help of four thematic sections, the high-tech textiles and textile processing technologies that have emerged from and for space travel. The highlight of this area is a virtual-reality experience in which visitors to Techtextil and Texprocess get to go on a virtual journey through the universe, where they will learn about the application of technical textiles in space travel and the processing required to make them. Digital Printing will be one the thematic focusses of the Texprocess complimentary programme. The sector's information service, the World Textile Information Network (WtiN) will, for the first time, be organising the European Digital Textile Conference at Texprocess. And digital printing on textiles will also be taken up as a topic in a dedicated series of lectures forming part of the Texprocess Forum. The forum offers expert lectures on current issues in the sector, on all days of the trade fair. For the first time, the programme will have been designed jointly by three partners: the Dialog Textil-Bekleidung (DTB), die International Apparel Federation (IAF) and the World Textile Information Network (WTiN). With the Texprocess Innovation Award, Messe Frankfurt seeks, for the fourth time, to honour the best new technological developments in the field. Submissions for the award may be made up until 20 February. The competition is open both to exhibitors at Texprocess 2017 and to other companies, institutes, universities, colleges and private individuals, who are not otherwise exhibiting at the fair. The awards in the various categories will be presented during the joint opening ceremony for Texprocess und Techtextil, on 9 May 2017. At the same time, there will be a special display area, showcasing all the prize-winning products at Texprocess. Following on from the success of its first edition, the Innovative Apparel Show is to be continued and set on an international footing. For the first time, there will be, a German university, three European universities/colleges from outside Germany, showcasing, their fashion designs from functional textiles and the processing stages that go into making them.
Source: Yarn and fibre
The All Pakistan Textile Mills Association (APTMA) Chairman Aamir Fayyaz has thanked the Prime Minister Nawaz Sharif for announcing Rs 180 billion textile industry revival package. He was addressing a press conference at the Aptma Punjab office on Friday. Chairman Aptma Punjab Syed Ali Ahsan was also present on the occasion. Chairman Aptma said he had held four meetings with the prime minister over the last four months and apprised him of the terrible state of affairs in the textile industry due to the high cost of doing business. "The prime minister was kind enough to hold lengthy discussions in each meeting in order to devise the export-led growth strategy along with the relevant ministers," he added. He said the prime minister was concerned about the decline in exports and an increase in the trade deficit, which has reached to $14 billion during first half of the current fiscal. "We explained about the increasing cost of doing business that has impacted export sector viability and also apprised of the government about the support extended by the competing countries like India, Bangladesh and Vietnam to their export industries," he said. Chairman Aptma appreciated the prime minister for taking a bold decision and announcing Rs 180 billion export-led growth initiative for the export sector of Pakistan, which includes duty and sales tax free import of cotton and man-made fibre besides offering duty drawback on exports including 4 percent on yarns/greig fabric, 5 percent on processed fabric, 6 percent on home textile/made-up and 7 percent on garments against realization of import proceeds. He has appreciated the role of Chief Minister Punjab Shahbaz Sharif, Federal Finance Minister Ishaq Dar, Federal Commerce Minister Khurram Dastgir, Federal Minister for Water and Power Khwaja Asif, Special Assistant to the Prime Minister on Revenue Haroon Akhtar, Special Assistant to the PM and Chairman Board of Investment Dr Miftah Ismail in finalizing the revival package. Chairman Aptma Punjab Syed Ali Ahsan expressed the hope that Rs 180 billion textile industry revival package would give boost to the country's exports and positive results would be in the offing within next six months with the availability of a fighting chance against the competitors. He added that the issue of energy availability has though been resolved but the issue of high cost of energy is yet to be resolved and urged the government to provide electricity at Rs 7/kWh and gas including RLNG at Rs 600 per MMBTU inclusive of GIDC to the textile industry across the country.
Source Brecorder.com
In winter, people are seen layer beautiful Indian textiles with not very aesthetically pleasing sweaters, taking away the overall impact of the beautiful textiles look. Tanira Sethi, with master’s degree in textile designing and who has had fashion passed on to her as heritage, thought of coming up with a textile innovation, she re-interpreted woven heritage with a contemporary, artisanal touch like Cashmere for conventional Indian wear. Tanira has created a line of Cashmere saris on a never-done-before scale, including the world’s first ever Cashmere lace sari In the past, in Kashmir, the double-sided Doshala was very popular. But, it never caught on because the fabric used to be really thick, so, it wasn’t easy to drape. Inspired by the idea, Tanira took on Cashmere, but decided to produce saris that are lightweight and practical to wear. Taani by Tanira Sethi is line of pure cashmere saris ’s collection goes by the name of Taani, is three-tiered. One segment includes pure, woven Cashmere saris with geometric and modern motifs, the second is a limited-edition collection which features hand-painted designs. The most interesting, however, is the Cashmere lace sari, which is the first of its kind, made with painstaking detailing. This one was extremely tough to produce, and took almost one year of R&D. The sari incorporates fine Cashmere Leavers lace fabric which was conceptualised by Ezma Fine Cashmere and woven by Beauvillian Davoine France. This is the first time a sari has been produced with this rare form of lace, Tanira said. The collection of 100 per cent pure cashmere saris keeps to a neutral colour palette with richer accents of reds. Taani by Tanira Sethi will be available January, 15 onwards, at Patine, DLF Emporio, 344, Second Floor, DLF Emporio, Nelson Mandela Marg, Vasant Kunj II, Delhi
Source: Yarn and fibre
The European apparel and textile confederation, Euratex, has highlighted the need for European Commission to tackle trade barriers in China and to address sector-specific topics, such as the overcapacities in the man-made fibres and yarns production. Euratex has reiterated that China does not meet the five criteria required to qualify as a market economy. Euratex has welcomed the reflection process carried out by the European Commission over the last months to address the needs of the European industry and to tackle unfair trade practices. It has released its position paper on the Commission’s proposal to change anti-dumping and anti-subsidy legislation. Further to its letter to European Commissioner for Trade Cecilia Malmström in January 2016, Euratex has reiterated that China does not meet the 5 criteria required to qualify as a market economy, in its position paper. However, Euratex adds that it is aware that the Commission has put efforts to tackle overcapacities and to strive for preservation of European jobs by proposing to change the anti-dumping and anti-subsidy legislation. The European textile and clothing industry is currently struggling for competitiveness by continuous innovation and through the development of front-runner specialities. But, the industry needs fair trade in order to grow and create jobs. “We thus welcome the improvement of the anti-subsidy proceedings allowing to take into account the new subsidies in the course of an investigation. Euratex is also looking forward for the Council and Parliament’s approval of the withdrawal of the Lesser Duty Rule.” The position paper, however, adds that the Commission’s proposal to change the AD-AS legislation by creating a new methodology for the calculation of the anti-dumping and introducing the concept of ‘significant distortion’ may open a lot of uncertainty for the European companies. Drawing attention on the necessity to focus on sectoral needs, the paper says, “There are a number of questions revolving around the WTO compatibility, the drafting of the reports, the burden of proof, the management of the transition period, the timetable for adoption of this proposal and the subsequent reaction of China. Euratex joins its voice to that of the European business community to urge the Commission to strongly act and clarify these points.” Euratex has also highlighted the necessity to address sectoral problems through dedicated initiatives. “Tackling barriers to trade in China, protecting IPR, ensuring stability of raw material prices and addressing overcapacities remain our priorities,” it says. Euratex has asked DG Trade for setting up a specific task force on overcapacities in man-made fibres and yarns.
Source: Fibre2fashion
When the pro-business, experienced economic team of PML-N took reign of Islamabad in 2013, Pakistan had recorded an export of 25,078 million dollars, which were 1.1% higher than 2012. In January 2017, the SBP reported exports for 2015-16 were recorded at $21,977 million. This is a decline by 12.36% during the time period, when a 1% decline is observed in the global level of exports of goods and services. This decline is despite the acclaimed GSP Plus status that Pakistan had obtained in December 2013, suggesting that PML-N has comparatively enjoyed an advantage over its predecessor’s government in terms of market access. The government is obviously not sitting idle over this historical decline–as this has weakened the confidence of its core constituency of traders on the economic policies. When the prime minister announced “Trade Enhancement Incentives” with the price tag of Rs180 billion last week, he presented it as the panacea to declining exports. It is not the first example of a package for exporters. Earlier, the government had already reduced the power tariff for the industries from Rs15-16 per unit to Rs11 per unit. Similarly, the government is providing uninterrupted power supply to the industries in the country. In addition, the government had already given zero-rated facility to five export sectors in the budget. Thus, it’s not that the PML-N does not have ideas to boost exports. Rather they have plenty of bad, impractical and ineffective ideas. Let’s analyse the recent Rs180 billion package. Incentives and flaws Essentially, the government will implement the package from January 2017 to June 2018 by abolishing customs duty and sales tax on import of cotton, man-made fibre other than polyester and sales tax on import of textile machinery. As a result of these measures, the government expects gain of $2 to $3 billion in exports by June 2018.
Source: The Express Tribune
A total of 2,886 exhibitors showcased their products in the four-day fair, Messe Frankfurt Bangladesh said in a statement. Last year, the fair witnessed 69,000 visitors and 2,866 exhibitors, according to the statement. Detlef Braun, member of the executive board of Messe Frankfurt, was satisfied with the outcome of the exhibition and appreciated the participation of 23 Bangladeshi companies. “We have been participating in Heimtextil for the last 16 years,” said Abdullah Muhammad Zubair of Zaber and Zubair Fabrics, a Bangladeshi home textile company that took part in the fair. “Messe Frankfurt organises the fair in a very organised way. Everyone should join the fair, as it is a very good platform for new companies to promote their products.”The number of visitors at the fair was low on the first day due to bad weather, said Arafat Rasheed, company director of Apex Weaving, another textile company of Bangladesh. “We have done three successful meetings during the fair.” Delwar Hossain Chowdhury of ACS Textile Mills, another Bangladeshi company, said they launched their new brand at the fair. Eleven Bangladeshi companies took part in Heimtextil with the assistance of the Export Promotion Bureau, said Hussain Mehmood, chairman of Bangladesh Terry Towel and Linen Manufacturers and Exporters Association. “The home textile sector has bright prospects in Bangladesh. The sector needs the government's support to grow further.”
Source: The Daily Star
