Textile entrepreneurs have decided to make a strong representation to minister of state for textiles Sources said for providing relief in the recently announced 10 per cent capital subsidy on capital investment under the Amended-Technology Upgradation Fund Scheme (A-TUFS). Ministry of Textiles Sources said minister of state for textiles Ajay Tamta will be in the announced that the entrepreneurs into the made-ups and garmenting sector will be given 10 per cent subsidy on capital investment under A-TUFS. However, there was an amendment in the subsidy scheme as those investing Rs1 crore will have to employ around 60 workers, whereas big units investing over Rs20 crore with annual turnover of Rs150 crore need to create 1,800 new jobs. Textile industry leaders said the entrepreneurs, under the newly announced subsidy scheme, will start getting benefits of the subsidy only after three years. Diamond City on Saturday to inaugurate Surat International Textile Expo (SITEX) at Surat International Exhibition and Convention Centre (SIECC) at Sarsana. Textile industry leaders will be making a representation to the minister to provide relief to the sector in order to boost manufacturing of made-ups and garments in the man-made fabric (MMF) hub of Surat. "We are going to represent the issue before the minister and seek his intervention and guidance in supporting the industry. If the subsidy scheme is made industry-friendly then more and more entrepreneurs will take the benefit, thereby providing a new platform to the traditional MMF hub for manufacturing garments and made-ups" said textile leader Girdhar Gopal Mundra.
Source: The Times of India
From being the traditional hub of man-made fabric (MMF) hub, Surat's textile sector is now weaving yet another success story. Around 20 textile dyeing and printing mills in the city have turned to processing high-end mercerized cotton fabrics, which are in high demand in southern and northern parts of the country and have a strong export potential. Industry sources said more than 20 lakh metre of unfinished cotton fabrics from Bhiwandi and Ahmedabad are dumped on a daily basis in the textile processing mills of city's South Gujarat Textile Processors' Association (SGTPA) president Jitu Vakharia, who has installed a mercerized cotton processing plant in his factory at Pandesara, says, "Though the cotton fabric processing is at a nascent stage, but I foresee it growing rapidly in the next few years. Surat's textile mills offer best rates for job work and we have a range of colour choices as well." Vakharia added, "Polyester fabrics see many ups and downs, whereas the demand for cotton fabrics remains steady. Thus, mercerized cotton fabric processing helps textile processors to tide over during tough days." Market sources said a few powerloom units, which use high-end Rapier looms, have started manufacturing cotton fabrics. Most of the powerloom units in the city are using traditional or water jet looms, which are non-compatible to manufacturing of cotton fabrics. Girdhar Gopal Mundra, a textile entrepreneur and chairman of Global Fabric Resource and Research Centre (GFRRC), said, "Surat has a huge potential for manufacturing and processing cotton fabrics. It is high time textile entrepreneurs here shed the image of being from the traditional centre for polyester fabrics. During the time of recession, cotton processing and manufacturing will help the industry to tide over a crisis." Synthetic and Rayon Textiles Export Promotion Council (SRTEPC) vice-chairman Narain Agarwal said, "Though cotton fabric processing has started in Surat, but the potential for growth remains with the man-made fabrics. It is true that the processors and weavers have to become versatile and stay relevant with the changing trends and demands."
Source: The Times of India
Surat: Minister of state for textiles Ajay Tamta has directed the textile commissioner's office to gather a comprehensive data from all the ports across the country on the volume of fabrics being imported into the country from China. Tamta, who was in the city to inaugurate Surat International Textile Expo (SITEX) organized by the Southern Gujarat Chamber of Commerce and Industry (SGCCI) here on Saturday, said the data will allow the government to decide on an appropriate duty structure. The import of undervalued fabrics from China has paralyzed the MMF sector in the city. Around 50% of powerloom weaving machines are running at around 70% of their capacity, thereby rendering many textile workers jobless since last few years. The production of polyester fabrics has been reduced from 4 crore metre per day to around 1.8 crore metre per day. Earlier, the ministry of textiles had asked textile industry leaders in the city to provide them with data of volume of fabrics being imported from China. "It is impossible for the unorganized textile sector to gather relevant data on import of fabrics. It is required that the textile department should make efforts to gather information on the volume of imported fabrics, so that necessary action could be taken," Tamta told TOI. According to Tamta, country specific duty, also known as a countervailing duty, on imports is imposed to nullify subsidies provided by other nations and is intended to make prices of domestic products competitive. Importing countries also have other options, such as introducing an anti-dumping duty, to make domestic prices at par. The inquiry by India has been initiated under the supervision of directorate general of anti-dumping and allied duties, an arm of the ministry of commerce and industry, Tamta added.
Source: The Times of India
Textile industry leaders will be making a strong representation to the minister of state for textiles Ajay Tamta to provide relief to the sector in order to boost manufacturing of made-ups and garments in the man-made fabric (MMF) hub of Surat. Textile leader Girdhar Gopal Mundra said that they are going to represent the issue before the minister and seek his intervention and guidance in supporting the industry. If the subsidy scheme is made industry-friendly then more and more entrepreneurs will take the benefit, thereby providing a new platform to the traditional MMF hub for manufacturing garments and made-ups. Sources said that the Ministry of Textiles in the recently announced capital subsidy on capital investment under the Amended Technology Upgradation Fund Scheme (A-TUFS), the entrepreneurs into the made-ups and garmenting sector will be given 10 percent subsidy on capital investment under A-TUFS. However, there was an amendment in the subsidy scheme as those investing Rs1 crore will have to employ around 60 workers, whereas big units investing over Rs20 crore with annual turnover of Rs150 crore need to create 1,800 new jobs. Textile industry leaders said that the entrepreneurs, under the newly announced subsidy scheme, will start getting benefits of the subsidy only after three years. Minister of state for textiles Ajay Tamta will be in the Diamond City on Saturday to inaugurate Surat International Textile Expo (SITEX) at Surat International Exhibition and Convention Centre (SIECC) at Sarsana.
Source: YarnsandFibers
Union Minister of State for Labour and Employment (Independent Charge) Bandaru Dattatreya interacts with textile employers and employees in Coimbatore on Friday J Manoharan Meets textile workers, employers COIMBATORE : The Labour Ministry is in the process of codifying the 44 central Labour Laws that exists at present in 4 labour codes, Bandaru Dattatreya, Minister of State for Labour and Employment (Independent Charge) said here on Friday. At an interactive meeting with employers and employees of the textile industry at the Southern India Mills Association here, the minister said that the multiple labour laws would be amalgamated into 4 codes for simplification of the same. The four codes include — Code on wages, Code on industrial relations, Code on social security and Code on safety, health and working conditions. Of the four codes, the first two — namely — Code on wages and Code on Industrial relations — would be brought up during the next Parliament session. “The tripartite committee has worked. I will be meeting the ministers in this connection next week; after that it will go to the Cabinet for approval before becoming a Law. I am confident of introducing these two codes in this session,” he added. Besides codification, the Labour Ministry is also planning to nationalise the Labour Laws, Dattatreya said. Reiterating the Centre’s commitment, he said “we are committed to job security, wage security and social security.” Responding to the issues raised by the employers on provident fund contribution related issues and the poor quality of service at the ESIC (Employee State Insurance Corporation), he said the government is intent on getting more people into the formal sector. “Close to 93 per cent of the workforce is in the unorganised sector; their working condition, wages and social security cover is not as attractive as those in the formal sector eventhough they are engaged in similar jobs. We have undertaken a mission to bring them into the formal sector, provide social security. Activation of UAN (Universal Account Number) is therefore very important.” The Ministry is envisaging to complete activation of UAN numbers of all employees across the country by March 2017, he said, adding “we have given orders to field officers for activation or face punishment.
Source: Business line
The reason is that, child labor, just like child marriages, is an accepted phenomenon in Burak Coşan has documented child laborers between the ages of 10 and 14 who work for 12 hours a day at unregistered textile workshops in Istanbul’s Küçükpazar neighborhood. Following this story, managers of professional unions issued several statements, somehow only focusing on the aspect that these kinds of stories create a perception that deteriorates Turkey’s image, which in turn stimulates the possibility of damaging businesses. The textile sector, they said, was under suspicion because of these pirate workshops, which caused trouble for textile investors when signing international business contacts. Is our real concern “the damage caused by these images to exporting firms?” No, sir; our real concern is having child laborers working in unsafe environments. The heads of professional unions have also said that “the state should control these working conditions. They should take measures.” Well, would the child labor problem be solved with control? No, it would not. the society. In the “Workplace Murders Almanac 2016,” lawyer Seda Akço has spoken about a prejudice, which is totally wrong but has been accepted in the society. We regard kids who start working at early ages as those who mature much faster when compared to their peers. We also believe that the working life teaches the realities of life to children at an early age. “As a matter of fact, the circumstances serve an aim that is just the opposite of maturing,” Akço said. Akço believes that controlling workplaces would not eliminate the problem. According to her, a system to support and monitor the attendance of children in schools should be formed. “I think children born in Turkey are a little unlucky. This is because they are born to a society that has not fully comprehended its responsibility to the child,” she said. When we say child laborer, we are face to face with a bigger and more fundamental issue than the lack of control, we are confronting poverty. In this country, almost 1 million children are employed; more than 7 million children are made to work in household chores. This is because 21.9 percent of us are poor. The rate of financial deprivation is 30.3 percent. Among these, the rate of those who cannot afford food is 35.8 percent. As Seda Akço has stated, “Child labor cannot be prevented by laws that ban it. Laws are necessary but they are not adequate to prevent it. One has to look at the adequacy of laws that may have an effect on changing the conditions that necessitates the child to work.” These could be, according to her, a basic income assurance or child support, adding a preventive feature to the legislation that regulates determining the minimum wage. In other words, textile managers who frequently refer to bans, laws and controls, as a matter of fact, discuss the matter insufficiently. If they abandon the attitude as if they were the center of the world, then at least they would be angry at the state for correct reasons. The state should support families in childcare because people who live at the poverty threshold cannot find any other way out other than making use of child labor. This country’s textile sector has more urgent issues to be solved than its deteriorating image. It is the children who have to work or forced to work; it is those children who age before they grow up.
Source: Hurriyet Daily News
Showing allegiance to exporters who fear that the proposed policy of tax refunds — as opposed to exemptions — for exports under the Goods and Services Tax (GST) regime will jack up their capital costs, the Director General of Foreign Trade (DGFT) has written to the GST Council, saying that, instead, an e-wallet facility could be created for virtual payment of taxes so that the GST chain is not disrupted. “The provision for no-exemption-and-only-refund (as proposed in the model GST law) will lead to blockage of about R1,85,500 crore annually for manufactured goods exporters,” an official source, with direct knowledge of the DGFT’s move told FE. “This estimate assumes exports of $200 billion, 30% value addition and cost of capital of 12%,” the source said. The reason behind the GST Council’s decision is the notion that the present system of tax exemptions under various export promotion schemes will besmirch the integrity of the proposed comprehensive indirect tax, the hallmarks of which are envisaged to be an uninterrupted chain of taxation and seamless input tax credits. Exporters, on the other hand, cite their practical experience of state VAT refunds getting unduly delayed, leading to increased capital requirement/working capital problems. “The capital cost for the government is lower than that of the exporters.. the government should also consider the possible consequences of hurting exporters’ competitiveness when the global demand is weak and exports are struggling to recover,” said Ajay Sahai, director-general and CEO, Federation of Indian Export Organisations. The DGFT has also urged the Council to continue with the current practice of treating supplies to projects under global bidding, mega power plants and World Bank-funded projects as “deemed exports.” The council had mooted removal of this tag which will make these supplies taxable. However, with the latest revision, GST model law has addressed the exporters’ concern with regard to GST’s impact of special economic zones (SEZs). These zones and the units therein, many of which not in good shape with average value addition just around 10%, are now eligible for duty-free import of inputs. Imports into SEZs will continue to be exempted from both basic customs duty (which will continue in GST regime) and integrated GST (IGST), which will replace the present countervailing and special additional duties on imports, sources said. “There is however an area of concern regarding possible taxation of inter-unit transfers in SEZs,” Sahai said. Currently, exporters can import inputs duty-free under advance-licence and duty-free import authorisation schemes. They are also eligible for excise duty exemption for domestic sourcing of inputs. Besides, the export promotion capital goods scheme allows duty-free imports of machinery against export obligations (which are up to six times the tax foregone). Under the council’s proposal, manufacturer-exporters will require to pay IGST on inputs and then seek its refund. Also, merchant exporters, who source domestic goods and export, will require to pay IGST on exports and then ask for credits. While duty waiver will be available in regard to basic customs duty, IGST will have to be first paid by the exporter although he can subsequently seek its refund. While the GST Council, that comprises the central and state governments, is committed to the principle that exports should be tax-free, it reckons that exporters should be made to pay taxes at the time of a transaction so that the GST chain is intact. Refunds, the model GST law says, will be given in “a reasonable period of time.” Sahai said although it is said that 90% of the VAT credit (refunds) will be paid in 30 days after shipment and the balance 10% (which are scrutinised) in 180 days, in practice, these refunds get delayed. So, there is an apprehension that in GST system, this problem will be compounded. The DGFT has suggested that exporters be allowed to pay the taxes through e-currency – which could be in the nature of an I Owe You (IOW) certificate under which a firm would agree to set off its IOUs with actual payment within a year or at the time of completion of exports whichever is earlier. A firm, the official quoted above said, could be allowed to use IOU equal to the value of its past year’s export performance.
Source: Financial Express
The revenue department has sought views of industry and exporter bodies on duty drawback rates for exports following implementation of GST from July. The Central Board of Excise and Customs (CBEC) has asked the export promotion councils, commodity boards and trade and industry associations to submit their views on the duty drawback rates by March 15. "In order to ensure smooth transition to GST framework, the Drawback Committee is to formulate and recommend revised All Industry Rates (AIRs) of drawback on rebate to be implemented for exports in the context of new GST environment," it said. Once the GST is implemented, the duty drawback norms, under which an exporter is compensated for duties suffered during the course of production of goods, too would be required to be aligned with the new indirect tax regime. Duty drawback rates or AIR of drawback take into account relevant broad parameters, including prevailing prices of inputs, input-output norms, share of imports in input consumption, the rates of central excise and Customs duties, incidence of service tax paid on taxable services which are used as input services in the manufacturing or processing of export goods and value of export goods, among others. Indirect tax reform goods and services tax (GST) would subsume excise, service tax, VAT and other local levies to create a seamless market across the country. The government plans to roll out the GST from July 1. The GST is expected to bring about reduced tax exemption, which could have a bearing on prices of goods and capital requirement for managing cross-border supply chains. It will also mean reduced duty benefit claimed on imports and reduced export incentives and drawback on exports, experts said. Exporters have been demanding ab initio exemption from payment of taxes under the GST regime, saying delay in refunds often takes months and also results in blocking the working capital. They also stated that exports need to be encouraged in view of the global slowdown. The revenue department has, however, promised to refund tax claims of exporters within seven days under the new GST set-up.
Source: Financial Express
The Reserve Bank of India (RBI) is expected to formulate standard operating procedure (SOP) for approval of foreign direct investment (FDI) proposals by ministries following the government decision to phase out Foreign Investment Promotion Board (FIPB). The proposal for setting up norms for FDI approvals in sensitive sectors, which are currently under government approval of the FDI policy, was discussed at a recent inter-ministerial meeting. According to people aware of the development , several options came up for discussions at the meeting. In order to further improve ease of doing business, the government has decided to abolish FIPB and form a new mechanism for expeditious clearance of foreign investment proposals. Once the FIPB is abolished, the onus of approving FDI proposals would be on the ministries and regulatory authorities concerned. The inter-ministerial committee has also discussed the possibility of approving the FDI proposals along with grant of licences, people aware of the news said. In the sensitive sectors like defence and telecom, companies having licences can only seek foreign investments. Citing example of the telecom ministry, they said, the government may extend the power to approve the FDI proposals to the same ministry. “For every ministry, RBI can be requested to prepare the standard operating procedure,” they said, adding that the home ministry could be asked to vet the FDI proposals from Pakistan and Bangladesh. These issues are under discussions of the committee formed by the government. It includes representatives from RBI, finance ministry, the department of industrial policy and promotion, and the home affairs ministry. RBI is the nodal agency for administration of foreign investments and foreign exchange. The committee is expected to submit its report within two months which will give guidelines on FDI approval procedures in the sensitive sectors.
Source: Financial Express
New Delhi: The RBI will formulate a standard operating procedure (SOP) for approval of foreign direct investment (FDI) proposals by ministries following the government’s decision to phase out the Foreign Investment Promotion Board (FIPB). The proposal for laying down norms for foreign investment approvals in sensitive sectors was discussed at a recent inter-ministerial meeting. The inter-ministerial committee discussed the possibility of approving the FDI proposals along with grant of licences, sources said. In the sensitive sectors like defence and telecom, companies having licences can only seek foreign investments. To further improve ease of doing business, the government has decided to abolish the FIPB and form a new mechanism for expeditious clearance ofFDI proposals. Once the FIPB is abolished, the onus of approving FDI proposals would be on the ministries and regulatory authorities concerned.
Source: The Times of India
The park, promoted by State Industries Promotion Corporation of Tamil Nadu (SIPCOT), aims at producing export-oriented garments. No dyeing activity would be A place earmarked for the Textiles Park at Padalur in Perambalur district. Expedite work, demand entrepreneurs PERAMBALUR: The much-awaited Textile Park at Padalur on the Tiruchi – Chennai National Highway is being delayed and entrepreneurs have been demanding its expeditious execution on a war-footing. The park proposal, mooted by the former Chief Minister Jayalalithaa, evoked overwhelming response from a large number of entrepreneurs not only in the district but also those from adjoining districts, with as many as 31 entrepreneurs from different parts of the state expressing interest to set up their units. According to sources, a meeting of entrepreneurs with adequate experience in making ready-made garments, was convened here about six months ago and their views on infrastructure was sought. It was only a couple of years ago that the implementation of the proposal gained momentum in the form of identification of a site for the project. The proposal had suffered a series of hurdles on identification of site till the finalisation of a site at the junction of the Padalur and Irur panchayats on 40.35 hectares — 36.79 hectares of government poramboke land in the Padalur village and 3.56 hectares government poramboke land in Irur village. The cooperation extended by the Padalur village panchayat was crucial for materialisation of the proposal. But this cooperation is not fully utilised yet. “It took two years for identifying the site. Even two years after identifying the site, the work is yet to be executed in full swing,” says one of the entrepreneurs. The interest being shown by the entrepreneurs can be gauged from the fact that some of them had even preferred to go in for long lease of even three sheds to accommodate their goods. taken up for protecting the environment and ground water potential. The State government had accorded permission to the Directorate of Handlooms and Textiles for the formation of the textile park. The Tamil Nadu Water Supply and Drainage Board would ensure adequate water supply to the Textile park. The site is about 1 km away from the National Highway. To access the site, a road is being laid now. Official sources clarify that the work was delayed due to various administrative reasons. It would be taken up on a war-footing in course of time.
Source: The Hindu
It's the time to go slow with fashion What does sustainable fashion mean, when the very word 'fashionable' implies something transient? It turns out that it's buying clothes to use and reuse and use again, and step away from a culture that celebrates the disposable. Last weekend saw Bengaluru host a film festival on a topic that was jargon a few years back but may soon turn, if it's not already, a buzz word: Sustainable Fashion. Called The GreenStitched Film Festival, the day-long programme had films that dealt with serious issues that are pertinent to the For 23-year-old Roshni Rajendra, who organized the festival and also runs the blog GreenStitched, the idea seemed appealing because "there is a need to raise awareness about sustainable fashion". "Think about how many clothes you owned as a kid. How many clothes did your parents own back then? How often did you and your family shop then? Compare that to the amount of clothes you own today. Clothes are cheaper now and fashion has become so transient. But amidst the sales and the glamour, we need to fashion industry. Fair trade, cotton farming, slow fashion, waste clothing, the future of clothing and craft revival- the documentaries and movies encompassed subjects that tend to get lost in the melee of fashion photos on Instagram and loud sales pitches on ecommerce websites. pause and think about how clothes have become so cheap. Thirteen billion ton pounds of textile wastes are generated each year in the US, of which only one percent is recycled. Do we really want to be sitting on a dump yard of textile wastes?" Rajendra pointedly asks. Earlier this month, at the Times Litfest, designers and fashion experts, Prasad Bidapa and Wendell Rodricks echoed Rajendra's concerns. "What we need today is for everyone to practice responsible fashion. People need to decide if they really want to buy a bag or a dress because it is the season's latest fashion," said Rodricks, while Bidapa felt that globalization of fashion had triggered fast fashion. "We need to endorse that we don't need to buy clothes so often," he noted. Slow fashion, sustainable fashion, responsible fashion, fair fashion, ethical fashion, the terms are many. But do they mean something significant or are they being thrown around to sound cool? DESIGNERS' TAKE "Sustainable fashion means different things in different countries. In developed countries it could mean having best practices in place with regard to manufacturing garments, while in India, 'sustainable fashion' is mixed with our textile heritage and preserving it, and because we are an agrarian economy, it's also associated with human capital. It's about ensuring that fair wages and fair practices are in place and the benefits go down to every last member in the supply chain. Even recycling and upcycling are combined into this umbrella term of 'sustainable fashion," says Jaspreet Chandok, head-Fashion of IMG-Reliance. "What we need today is to set sustainable fashion in a global context." Incidentally, Chandok and a team of five young Indian designers won the "International Fashion Showcase Country Award" at a special sustainable fashion exhibition that took place during the recently-held London Fashion Week. The designs that were presented subscribed to sustainable fashion principles like zero-wastage in terms of fabrics used or use of ethical silk. The installations had the designers reinterpreting the textile heritage of India's nomadic pastoral communities. The larger perspective, according to Chandok, however is of how younger designers are going back to India's textile heritage to make their individual statements. "In the last five and a half years, we have seen a raise in the number of gen-next designers using handlooms as the base for their creations." What the millennial or generation Z designers in the country may consider as "discovery" is something that ace designer Rajesh Pratap Singh has always been doing. "We have always woven our own fabrics and used natural indigo- we have been doing it since we started our label and not just because it is trendy today. But it's a good thing that people are reacting to the issue today," says Singh. At the recently concluded Lakme Fashion Week, Singh made a special collection for the 'Sustainable Man' show. The garments were woven from synthetic yarns made out of recycled bottles, yarns were made from recycled and old garments and fabric from old clothes were reused to create a whole new ensembles. The award-wining designer feels that this new interest in sustainable fashion is just a "natural reaction to the other world of fast fashion. It had to happen," he says. FROMFARM TO LABEL While that's a shift at top-end of the spectrum, there are initiatives like Chetana Organic and Fair Trade India that target the players at the bottom-end of the pyramid - the farmers. Arun Ambatipuri, founder of Chetana Organic, set up his organization sometime around 2004-05, "when there was a cotton crisis in the country and you had a spate of farmer suicides in Vidarbha". "One of the primary concerns was to reduce the risk and vulnerability that the farmers faced. We also wanted to get them to shift from a high-input development system to organic farming," says Ambatipuri. From creating cooperative societies for the farmers to setting up seed banks, farmer support groups, and setting up an NGO (Chetana Organic Farmers Association) that provides capacity-building support to farmers, Chetana Organic works with cotton farmers in 518 villages across Andhra Pradesh, Telangana, Odisha and Maharashtra. "I think what one needs to ensure that 'sustainable fashion' doesn't end up as mere rhetoric is to have an open and complete transparent supply chain. The end customer should be able to trace the last person who contributed to making the garment," says Ambatipuri. CUSTOMERS ARE KEY For responsible fashion to gain traction it is important for retail brands to join the game. But Abhishek Jani, CEO of Fair Trade India feels that "consumers need to continue asking who made my clothes and who grew my clothes so that the brands recognize that this is an important issue that consumers care about". About how customers can contribute to the movement, Ambatipuri's suggestion is simple. "Customers need to stop buying cheap garments that don't last long. Choose to buy 4-5 good quality garments that will last longer. Customers also need to start asking labels about where their clothes were made."
Source: The Times of India
The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 55.18 per barrel (bbl) on 24.02.2017. This was lower than the price of US$ 55.48 per bbl on previous publishing day of 23.02.2017. In rupee terms, the price of Indian Basket decreased to Rs. 3687.76 per bbl on 24.02.2017 as compared to Rs. 3707.99 per bbl on 23.02.2017. Rupee closed at Rs. 66.84* per US$ on 24.02.2017. The table below gives details in this regard:
|
Particulars |
Unit |
Price on February 24, 2017 (Previous trading day i.e. 23.02.2017) |
Pricing Fortnight for 16.02.2017 (Jan 28, 2017 to Feb 13, 2017) |
|
Crude Oil (Indian Basket) |
($/bbl) |
55.18 (55.48) |
54.67 |
|
(Rs/bbl |
3687.76 (3707.99) |
3683.12 |
|
|
Exchange Rate |
(Rs/$) |
66.84* |
67.37 |
Source: PIB
It was yet another benchmark for Indian fashion and design industry when India was declared the winner of “Best Country Award” for exhibit curated by IMG Reliance at the International Fashion Showcase (IFS) during London Fashion Week. The British Council, British Fashion Council (BFC) and Mercedes-Benz announced India as the winner of “International Fashion Showcase Country Award” at a prize-giving ceremony at Somerset House, London, beating 25 other nations judged by a panel of industry experts, said a statement. The top award was presented by Sarah Mower, BFC Ambassador for Emerging Talent; chief critic Vogue Runway to the IMG Reliance Fashion team of Jaspreet Chandok, Gautam Vazirani, Nikhita Punja and Shruti Singh; designers Alan Alexander Kaleekal, Karishma Shahani Khan, Priyanka Ella Lorena Lama, Ragini Ahuja, Ujjawal Dubey, and exhibition designer Wasim Khan. To celebrate India-Britain Year of Culture 2017, IMG Reliance in partnership with 6Degree and supported by Etihad Airways and British Council, presented “The Indian Pastoralists” — a special sustainable fashion exhibition at the International Fashion Showcase (IFS) held during the London Fashion Week. The five designers were selected based on their contemporary Indian aesthetics that offer a global appeal. Each of the five designers created special looks that represented “The Indian Pastoralists” theme conceived by IMG Reliance and aligned to the global theme of IFS this year, Local/Global. The five Indian designers’ creations drew inspiration from the multi-faceted ethnic lifestyles of India’s nomadic pastoral communities. Their collections interpreted the deep heritage of Indian textiles and handlooms for a global audience. For designer [KA] [SHA] by Karishma Shahani Khan (Womenswear), the inspiration for the exhibit stands as an ode to one of India’s most iconic pastoral nomads, the Rabaris who are predominantly based in Kutch. For Kaleekal by Alan Alexander Kaleekal (Menswear), the inspiration is from the Todas in the Nilgiri Hills, South India. Ikai by Ragini Ahuja (Womenswear) has drawn inspiration from the Drokpa in Ladakh, in northern India, whereas PELLA by Priyanka Ella Lorena Lama (Womenswear) has drawn inspiration from Lachen and Lachung tribes of Sikkim in north-east India. And last but not the least, Antar-Agni by Ujjawal Dubey (Menswear) has taken inspiration from the Van Gujjars of the Himalayas in northern India. The exhibition featured conceptual installation elements designed in collaboration with spatial design expert Wasim Khan and sustainable furniture designer Sandeep Sangaru. “Through initiatives such as the International Fashion Showcase 2017, we will present India’s emerging talent on prestigious international platforms for global exposure. IMG Reliance through its lead platform Lakmé Fashion Week has always delivered compelling stories around sustainable fashion and focused on supporting young and emerging designers and this is an extension of the same,” said Jaspreet Chandok, Head of Fashion, IMG Reliance. “This victory showcases the true power of the young Indian designer mind that is breaking pre-conceived notions on Indian Fashion in the world. This puts Indian Fashion on the map like never before – I’ve been told that the entire London Fashion Week is buzzing about our installation and design talent,” he added. Jaspreet said, “We’d like to thank 6Degree and Etihad Airways for their support in taking the lead to promote young Indian design talent across the world.”
Source: Business Standard
Last week, the Trade Facilitation Agreement (TFA) of the World Trade Organization (WTO) came into effect, when four of its members sent their instruments of acceptance to the body’s director-general, bringing the total number of ratifications over the required threshold of two-third of its 164 members. This agreement aims to expedite the movement, release and clearance of goods across Customs barriers. It launches a new phase for trade facilitation reform over the world, creating a significant boost for commerce and the multilateral trading system as a whole, says WTO. Developed countries have committed to immediately implement the agreement. Developing countries will immediately apply only the TFA provisions they have designated as ‘Category A’ commitments. For the other provisions of the agreement, known as Category B and C commitments, they must indicate when these will be implemented and what capacity building support is needed for this. Least-developed countries may set their own timetables for implementing. A TFA Facility has been created at the request of developing and least-developed countries, to help ensure they receive the assistance needed to reap the full benefits of the TFA, and to support the ultimate goal of full implementation. Essentially, the TFA prescribes many measures to improve transparency and predictability of trading across borders, and to create a less discriminatory business environment. The provisions include improvements to the availability and publication of information about cross-border procedures and practices, improved appeal rights for traders, reduced fees and formalities connected with the import and export of goods, faster clearance procedures and enhanced conditions for freedom of transit for goods. And, measures for effective cooperation between various Customs administrations and other authorities. According to a study by WTO economists in 2015, full implementation is expected to slash members' trade costs by an average of 14.3 per cent, with developing countries having the most to gain. Also, TFA is likely to reduce the time needed to import goods by over a day and a half, and to export goods by almost two days, a reduction of 47 per cent and 91 per cent, respectively, over the current average. Implementation is also expected to help companies export for the first time and once fully implemented, developing countries are likely to increase the number of new products exported by as much as 20 per cent, with least developed countries expected to see an increase of up to 35 per cent, says the report. As with many other such studies, the estimated benefits seem exaggerated. The significance of TFA is that this is the only meaningful multilateral agreement the WTO members have brought into force since the launch of the Doha Development Round in 2001. Otherwise, WTO has made very little headway on issues such as elimination of subsidies to agriculture by richer countries and more liberal trade in services. Given the antiglobalisation sentiment, especially in developed countries now, TFA alone might not help revive the moribund multilateral trade negotiations.
Source: Business Standard
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Polyester Staple Fibre ( PSF ) |
|
|||||
|
Market |
24/02/2017 |
27/02/2017 |
% Change |
|||
|
FOB Shanghai ($/ton) |
1,140 |
1,140 |
0.0% |
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China (RMB/ton) |
8,675 |
8,650 |
-0.3% |
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Polyester Filament Yarn ( RMB/ton ) |
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|||||
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Market/Variety |
24/02/2017 |
27/02/2017 |
% Change |
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POY 150 D/48 F |
8,900 |
8,825 |
-0.8% |
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|
DTY 150 D/48 F |
10,550 |
10,550 |
0.0% |
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|
FDY 68 D/24 F |
9,150 |
9,100 |
-0.5% |
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Polyester Filament Yarn ( US$/ton ) |
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|||||
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Market/Variety |
24/02/2017 |
27/02/2017 |
% Change |
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|
POY 150 D/48 F |
1,196 |
1,187 |
-0.8% |
|||
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DTY 150 D/48 F |
1,442 |
1,443 |
0.1% |
|||
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FDY 68 D/24 F |
1,245 |
1,239 |
-0.5% |
|||
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|
|||||
|
Market |
24/02/17 |
27/02/17 |
% Change |
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||
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China (RMB/ton) |
14,725 |
14,725 |
0.0% |
|
||
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|
|||||
|
Market |
24/02/17 |
27/02/17 |
% Change |
|
||
|
China (RMB/ton) |
16,200 |
16,200 |
0.0% |
|
||
Note: The above prices are based on available sources. SRTEPC is not responsible for the correctness of the same.
Pretoria — Minister in the Presidency for Planning, Monitoring and Evaluation, Jeff Radebe, says the textile industry is one of the most strategic platforms through which South Africa can bolster trade of local products. He was addressing the Ivili Loboya Textile launch on Thursday in Rosebank, Johannesburg. Ivili Loboya, which is Africa's first cashmere fabric manufacturer, was first established in 2015 as a wool processing hub in Ibika village in Butterworth, Eastern Cape. The Minister said the establishment of Ivili Textile is a very important milestone in efforts to transform the economic landscape of South Africa. "It is the culmination of many years of hard work towards the establishment of this ground breaking initiative in the textile industry... These are quality niche wools sourced from different South African sheep breeds with local cotton and wild silk from the North West province. "It is inspiring to note that the launch of this initiative will also mark the signing of an agency agreement with an Italian retailer, an initiative that will expand your markets to Europe. "I believe that a project of this nature has great potential to contribute significantly both to the development of an inclusive economy as well as in employment creation," said the Minister. He said the manufacturing industry is an ideal model for sustainable entrepreneurship as it encourages productivity, hard work and self-reliance. "You do not need to win a tender in order to be successful in this industry. The growth of your business is dependent on your productivity. These are the kinds of initiatives that add meaningful value in changing the current socio-economic conditions of the people of South Africa." He said an initiative such as this is a very important intervention in bolstering rural economies and addressing some of the country's national imperatives. He commended Ivili Textiles for its strategic focus of promoting women participation, improving productivity through agronomic and development skills, as well as promoting National Development Plan entrepreneurship, thus contributing directly to the objectives of the National Development Plan (NDP). The NDP identifies trade as one of the key interventions to enhance growth of a more dynamic and inclusive economy. The NDP envisages a South Africa where rural communities have better opportunities to participate fully in the economic, social and political life of the country. It includes integration of the country's rural areas, infrastructure development, job creation and poverty alleviation. The Minister said there is a need to increase agricultural development based on successful land reform, employment creation and strong environmental safeguards. "Business ventures that are based in such areas deserve all the support that we can give." Some of the key strategic interventions identified in the NDP include raising exports, improving skills development and investing in competitive infrastructure, among others.
Source: allAfrica.com
Star Just at the time when a major conference on the apparel sector of Bangladesh was held on February 25 in Dhaka with the promise to work together for a better tomorrow, disappointing news on labour rights in the readymade garments sector has surfaced. Eleven members of the US Congress have expressed their concerns regarding arrests and harassment of labour leaders and dismissal of workers from jobs. Their letter was sent to the Prime Minister of Bangladesh and to eleven buyers of Bangladesh's RMG. Global concern over Bangladesh's RMG sector is not new as global buyers and consumers are part of the industry. This has always taken the centre stage of discussion on the RMG sector. During the post-Rana Plaza period it has become all the more important. Since the Rana Plaza tragedy on April 24, 2013 buying companies have started working with suppliers to improve compliance. A number of measures have been undertaken through collaboration with Bangladeshi entrepreneurs, e.g. Accord on Fire and Building Safety, Alliance of Bangladesh Worker Safety and Partnership for Cleaner Textile. Major compliance measures have been undertaken to ensure safety of factories and workers. The labour law of the country has been amended and the right to form trade unions in factories including in the special economic zones has been approved. The minimum wage of RMG workers has been raised to USD 69 in November 2013, in an attempt to make it comparable to other competing countries. These initiatives helped to develop standards and ensure transparency and compliances. As a result, RMG exports continued to increase and reached USD 28.09 billion in FY2015-16, despite some periodic fluctuations. While compliance measures have helped to bring more credibility of the RMG sector, this is not a one off initiative. This is an ongoing process and has to be pursued continuously for sustainable growth of the sector. It is encouraging to note that RMG entrepreneurs have accepted compliance as an integral part of their business to survive. Many are taking self-motivated initiatives to remain ahead of the curve and to achieve and maintain competitiveness. This is also useful since with the planned departure of Accord and Alliance in June 2018, monitoring the safety issues in factories will have to be continued with similar rigour by the entrepreneurs themselves. The role of the government, Bangladesh Garment Manufacturers and Exporters Association (BGMEA), buyers and development partners will be critical in following up compliance measures. But the road ahead is quite challenging. Good things do not come cheap. With higher compliance related expenditures, the cost of doing business goes up. This gives stiff price competition to the entrepreneurs. In such a situation some may opt for reduced production capacity to make up for additional expenditures on compliance requirements. But as the industry aims for apparel exports of USD 50 billion by 2021, production capacity has to increase further and faster. Fulfilment of such objectives will rely on collaborative efforts of multi-stakeholders. Indeed, sustainable growth of the industry is a shared responsibility of all parties including manufacturers, buyers, workers, government, civil society and media. Entrepreneurs should continue to maintain higher compliance in a sustainable manner. The Ashulia incident and the global reaction in its aftermath are not helpful for the sector. Wages and labour rights related issues have to be taken into cognizance seriously and resolved immediately. If the sector can invest so much for safety and technological upgradation, it can also increase labour wages. In the short run, increase in labour costs does lead to higher production costs. But the increase is not significant, as many global studies reveal. Moreover, in the long-run these costs are internalised by higher productivity. RMG manufacturers have to meet the increased cost of production through higher productivity and moving to high value products and high end markets. Higher productivity will require state of the art technology and skill development. Hardworking Bangladeshi workers are ready to put extra labour to learn technical skills. However, the issue of technology and its impact on the employment has to be thought of seriously. In the wake of the fourth industrial revolution which is going to rely heavily on technology, robots will take away many human jobs. Modern sectors will fall prey to such innovation first. Of course, this is an issue for the policymakers who have to generate employment and engage the excess labour force in other sectors. RMG entrepreneurs have to think of training workers in order to adapt to technological transformation. Buyers, another major stakeholder, have to collaborate with suppliers in improving productivity. Ironically, in a fiercely competitive market, brands and retailers look for the lowest price. Buyers source from Bangladesh to maximise their profits through cheap clothes. Ethical buying and fair price are not under the purview of profit-making brands. If that was so then some other competing countries would have been dropped from their sourcing list. Some companies are seeking to reduce costs further by sourcing from low-cost countries. Southeast Asia and Sub-Saharan regions are under their consideration. This emphasises the need for higher productivity and stricter compliance. The government can provide some relief on the cost of production through better infrastructural facilities and energy, competitive interest rate and better exchange rate. Civil society and media can help create awareness among consumers about ethical buying and act as a watchdog for compliance. Finally, trust gap among various stakeholders has to be minimised through better understanding and more transparency. The writer is Research Director at the Centre for Policy Dialogue.
Source: The Daily Star
Close to $7 billion worth of foreign apparel and shoes are bought in Iran every year, about $3 billion to $4 billion (almost 50%) of which are contraband, the chairman of the Association of Iran Textile Industries said. “The lion’s share of these smuggled products enter the country through customs offices across the country,” Mohammad Morravej Hosseini was also quoted as saying by IRNA. The estimate of the director general of Textile, Apparel and Leather Industry Organization, affiliated to the Industries, Mining and Trade Ministry, is even bigger, putting the share of smuggled products in the Iran’s import market for apparel at 90%. Golnar Nassrollahi added that China, Turkey, India, the UAE, South Korea and Taiwan are the main origins of apparel exports to Iran.
Source: Financial Tribune
The Chinese embassy in Myanmar has lodged representations to the Myanmar authorities following an assault by striking workers on a Chinese-invested garment factory in Yangon. According to Xinhua, the representations were made to Myanmar's Foreign Ministry, Ministry of Home Affairs and the Yangon regional government on Thursday night, demanding a prompt and effective action to punish the perpetrators, and ensure the safety of Chinese nationals and the properties of the Chinese enterprise. On their part, Myanmar authorities said they will protect the safety and interests of Chinese entrepreneurs in accordance with law, promising to settle related issues as soon as possible. Hundreds of striking workers and non-factory personnel attacked the Chinese-invested factory Thursday morning, destroying properties of the plant, taking away Chinese staff' belongings and restricting their personal freedom. All Chinese staff were allowed to leave the factory after negotiations, but the compound is still being occupied by the striking workers. (This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Source: Business Standard
Bangladesh garment workers arrested last year over wage strikes are being released, global union IndustriALL said Saturday, reports The Guardian. A strike by tens of thousands of workers in December demanding higher pay was quashed after around two weeks, with 1,600 employees sacked and 34 workers and union leaders arrested. Cases alleging such things as burglary, arson, vandalism and extortion were also filed against more than 1,500 others, while authorities dismissed the workers’ demands saying that no pay hike would be made before 2019. Global fashion companies including H&M and Zara-owner Inditex—top clients of Bangladesh’s $30-billion garment industry—later said they would pull out of a key conference in support of the workers, Guardian said. The Dhaka Apparel Summit, scheduled for this weekend, is the signature annual event in the global textile hub with prime minister Sheikh Hasina designated as keynote speaker. But in a statement Saturday global garment union IndustriALL, who led a campaign against the Bangladesh government’s crackdown on the movement, said most of the workers had been released and the rest would be freed shortly. “This is an important victory for garment workers in Bangladesh, sending a strong message to the country’s industry to enter into a constructive dialogue with the trade unions,” spokesman Valter Sanches said. IndustriALL said it had entered into an agreement with the government and the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) -- a body representing 4,500 clothing factories—allowing for the release of the workers. The BGMEA had previously labelled the strikes illegal and warned that salary rises would drive retailers in Europe and the US to competitor markets like Myanmar. “We will continue to support the fight for higher wages and will closely monitor the situation until all charges are dropped,” IndustriALL’s Bangladesh Council (IBC) spokesman Kutubuddin Ahmed told AFP. “We have informed the brands who earlier pulled out from Dhaka Apparel Summit about the agreement and release of the workers and unionists. Following our confirmation, they have decided to join the summit.” A senior BGMEA official also said that the fashion companies would be joining the conference while H&M confirmed in an email to AFP that it had decided to participate, Guardian could reveal. ‘Unbearable’ harassment - Bangladesh’s garment industry accounts for 80 percent of its annual exports, but it has a woeful history of poor pay and conditions for its four million workers. Protests over wages, benefits and working conditions are common but gained intensity after the collapse of the Rana Plaza factory complex in April 2013, which killed 1,138 people. Workers in the industrial town of Ashualia staged mass protests in December to demand a three-fold hike in pay, which can typically run as low as $68 a month. The subsequent crackdown by authorities was widely criticised by international rights groups and top global brands. Human Rights Watch said the union representatives were facing “unfair or apparently fabricated criminal cases”. Last week union leaders said workers were “living in constant fear” of being arrested as the police hunted those involved in the strikes, The Guardian revealed. On Saturday, Mohammad Ibrahim, a union leader who was jailed for nearly two months, told AFP that for now the majority of workers had only been released on bail but he hoped the charges would be dropped soon. “Most of the arrested union leaders and workers are now out on bail,” he said. “The harassment we had to go through was unbearable. However we now want the authorities to withdraw all of the false cases.”
Source: Prothom Alo
State minister for labour and employment M Mujibul Haque on Thursday said the workers, who were sacked following the labour unrest in the garment factories of Ashulia in December last, will get back their jobs. “We’ve taken some decisions at a meeting with the leaders of garment workers and Bangladesh Garment Manufacturers and Exporters Association (BGMEA) following the recent incidents of Ashulia,” he said in a press conference at his ministry. Mujibul said the garment owners will have to pay their arrears as well. He also said the unregistered trade unions in the garment industry will be shut down. The state minister informed that the ‘Apparel Workers Summit” billed for Friday has been postponed as “Dhaka Apparel Summit 2017” will be held on 25 February. BGMEA president Siddiqur Rahman was also present at the press conference. Over 1,600 workers from a number of garment factories in the industrial belt of Ashulia had been dismissed for their alleged involvement in labour unrest in 59 garment factories in December last year. Besides, several cases were filed against the workers and workers’ leaders. Police also arrested a number of them over the incident.
Source: UNB
After 20 years working in Australian fashion, designer Fiona Wood is launching her own label, called Wonderwood. Putting together her first collection has meant doing everything herself — from design, to patternmaking, to developing a catalogue. But starting small and focusing on quality has always been part of Ms Wood's plan. "I really wanted to focus on well-made garments that are made in Australia, and also support our local industry," she said. It is the very opposite of the global fast fashion chains that are sending Australian operators to the wall. Since December, half a dozen well-known brands have collapsed: the women's retailers Marcs and David Lawrence; the children's label Pumpkin Patch; cut-price shoe store Payless Shoes; suit-maker Herringbone; and its stablemate Rhodes and Beckett. It all adds up to almost 4,000 jobs on the line so far. Former chief executive of David Jones, now global retail advisor at PwC, Paul Zahra, says that is just the beginning. "It's murder on the dancefloor, it's tough," he said. "People are trying to work through the different dynamics that are occurring, and actually work out how do they play in this new world." He cautioned that retailers would see further disruption when Amazon and Alibaba arrive in Australia. "We're about to see a lot more blood," he said. Zara, H&M, Uniqlo, take over market share Last year, global brands including Zara, H&M and Uniqlo took $600 million out of Australian clothing retail. Industry consultant Steve Kulmar, from Retail Oasis, said these international brands were hollowing out the middle market. "This erosion is causing businesses to simply go broke," he said. "They haven't been able to grow, their cost of rent, their cost of staff, their cost of supply has all increased, but their sales line hasn't." Australian brands are also behind in logistics. While the average local fashion retailer sees new stock once a month, Zara has it down to twice a week. Zara also tracks every garment from the sewing machine to the sales floor. "Now that logistics is quite magnificent, there isn't a retailer in Australia that has anything comparable," Mr Kulmar said. Mr Zahra said bigger volumes meant global brands were winning on the pricing front too. "A lot of the product that Marcs and David Lawrence offered was, dare I say it, available in the international retailers at a cheaper price," he said. Last year's late winter and cold spring forced retailers to cut prices to move stock, while 2016 Boxing Day sales have been extended. But Mr Zahra said shoppers were learning to expect continual discounts. "Traditional retailers have actually discounted to survive, and to drive growth. It's certainly not a sustainable strategy," he said. "What customers are wanting is lower prices, so if that means discounting then that's what that means, but it's best to be setting the price, the right price, front up, and getting the volume." Flight to online There is also the ever-growing competition from online sales to consider. Mr Kulmar said for many Australian brands it had simply meant a flight to safety. "Thinking about what's the safest design to follow, what's the safest colour to follow. And so what they're doing is accidentally commoditising their offer," he said. "So when they finally bring that product to market it looks the same as the retailer next door — and regretfully it looks the same as the international retailer." For women at least, clothes are at their cheapest in almost 30 years. But designer Ms Wood said cheap fashion came at a cost to consumers, and the environment. "I hope to encourage consumers to buy less and buy well," she said. "That may sound strange coming from someone who wants to sell clothes, but I do believe it's better to have a small concise wardrobe that you get value out of."
Source: ShanghaiDaily.com
Nicholas Eckhart ... A tidal wave of store closures is about to hit the US, and the result could be catastrophic for hundreds of lower-tier shopping malls. JCPenney announced Friday that it would close up to 140 stores in the next couple months. That follows decisions by Macy's and Sears to close a collective 218 stores in the first half of the year. Other mall-based stores including American Apparel, The Limited, Bebe, BCBG, and Payless have also recently announced that they are shutting down all or most of their stores. The rate of closures is higher than in previous years, signaling a new reality for the retail. The loss of department stores in particular - like JCPenney, Sears, and Macy's - will plunge many of these malls further into distress, and put some completely out of business. That's because department stores, also known as mall anchors, take up the industry that consists of far fewer stores, and ultimately fewer shopping malls. "The signal sent by this [JCPenney] announcement - retailers are going to continue aggressively culling stores to appease Wall St," Says Ryan McCullough, senior economist for the commercial real estate firm CoStar Group. Most of the stores that close will likely be located in lower-tier shopping malls - those referred to in the industry as B, C, and D-level malls. These shopping malls are already struggling, and many contain storefronts that have already gone dark. There are approximately 338 malls in the US - or roughly 31% of all malls - that are rated C-quality or lower, according to the real estate research firm Green Street Advisors. large, multi-story buildings at shopping center entrances that are responsible for large portions of mall traffic and rental income. "These B- and C-level malls are going to get increasingly dark and less appealing because they don't have as much to offer," says Mark Cohen, director of retail studies at Columbia Business School. "That creates a cycle of lack of investment, and eventually they will turn dark and dingy. Some mall owners will try to redevelop, and others will go into default." Meanwhile, A-level malls, which are home to higher-end department stores like Nordstrom and Saks, are enjoying some of the highest occupancy rates and healthiest sales productivity in years. The losses hitting lower-quality malls will have little-to-no effect on the highest tier of shopping centers. "The polarization between good and bad centers is intensifying," McCullough says. In rare cases where A-quality malls have been hit with closures, the mall owners are often able to find even more productive replacement tenants, like restaurants, movie theatres, or other retailers. But the same can't be said for lower-tier malls. "Class B and C malls have not been as successful replacing the anchors and are resorting to non-retail tenants to prop up cash flows. We expect that there will be a lot more attrition in the B/C mall segment over the coming years," McCullough says. Cohen said the announcements from JCPenney, Sears, Macy's, and others is just the beginning of what will be an onslaught of additional closures this year. "I think there are going to be hundreds and hundreds of stores closing that haven't been announced yet by these department stores for the rest of the year," Cohen said. "There's going to be an endless train of announcements."
Source: Business Insider
A BORDERS businessman has been honoured by the textiles industry with a top award. Sinclair Paterson, who is the owner and managing director of cashmere accessories brand, Sinclair Duncan, has been awarded the prestigious Silver Medal Award from The Worshipful Company of Weavers. The 41-year-old from Galashiels was presented with the award at a ceremony held within Saddlers Hall, Westminster, last Tuesday by Livia Firth, founder and creative director of Eco Age. The award acknowledges the hard work and influence Sinclair has had on the UK textile industry, specifically in manufacturing. Sinclair told the Border Telegraph: "I was stunned yet honoured to have been considered for this award and I'm really proud to be accepting this as head of my own business, which we only started four years ago. "It has really buoyed me to continue to produce the high quality products that the UK is renowned for." After more than 20 years of working for successful textile manufacturing companies within Scotland, Sinclair decided in 2012 to start his own cashmere accessories brand, Sinclair Duncan - named after his father, Duncan Paterson, who was an esteemed mill-owner during the textile manufacturing glory days of the 1970s. Based in his home-town of Galashiels, Sinclair, alongside wife and business-partner, Debbie, has proven that the ‘Made in Scotland’ brand is as strong as ever in the domestic and global market. Past recipients of the Silver Medal include the current chairman of the Worshipful Company of Weavers, James Sugden. Mr Sudgen was full of praise for the latest winner. He told us: "I worked alongside Sinclair at the Johnstons mills in Elgin and Hawick for nearly 20 years, and in his managerial capacity his contribution to the industry has been outstanding. "He has a first-class technical knowledge of all processing of woollens and cashmere, and now with the formation of his own weaving and accessory company, he has clearly demonstrated that there is a bright future for textiles made in Scotland. "The industry needs more young experts like Sinclair, who can demonstrate that where there is a will, there is a way. "This is how new jobs are created." Another past recipient of the medal was the then chief executive of Burberry, Christopher Bailey. The ceremony was attended by 120 guests, including esteemed weavers from all over the UK, leading textile universities who are sponsored by the Worshipful Company of Weavers, and market-leading retail companies such as Burberry, John Lewis and Marks and Spencer. Katie Fairfull, from Hamilton, who studies Textile Design with a specialism in Weave at Heriot Watt University in Galashiels was also among the winners. The 22-year-old picked up the top student award. A delighted Katie said: "I'm completely overwhelmed to have won the Stuart Hollander Scholarship from the Worshipful Company of Weavers. "I've not been a part of the textile industry for long, but it is a pleasure to wake up each morning excited about what the day could bring... and I'm still at university. "My mum and dad have always taught me that hard work pays off, and it’s so rewarding to already be experiencing these benefits in ways I'd only ever dreamed of. The full experience has been incredible and I am continuously grateful."
Source: Border Telegraph
The latest gas price hike would put further pressure on local industries and exporters already facing many internal and external challenges, say business leaders and chambers. The 15 percent increase in gas bills for industrial units and factories using gas-run generators comes at a time when exports are hit by low demand on the global market amid uncertainties stemming from Brexit, they say. Moreover, cotton and yarn prices went up by 20 to 25 percent over the last two months. But the prices of apparel items, which account for more than 80 percent of Bangladesh's overseas sales, have not increased. “Under these circumstances, the hike in gas price is like adding insult to injury,” said Fazlul Hoque, a leading garment exporter. “The impact will be multidimensional,” he told The Daily Star yesterday. On Thursday, Bangladesh Energy Regulatory Commission raised gas prices and decided to implement the increase in two phases. For industries, gas prices were last increased by more than 100 percent in September 2015. “We haven't yet been able to absorb the previous hike completely,” said Hoque, also managing director of Plummy Fashions, an internationally certified eco-friendly factory. “The latest price hike was not expected at all… The timing is not good,” he added. His company pays Tk 18 lakh in gas bills every month. Now, it would go up by another Tk 2-3 lakh. On Saturday, the issue of gas price hike was discussed at Dhaka Apparel Summit. Syed Nasim Manzur, a former president of the Metropolitan Chamber of Commerce and Industry in Dhaka, said gas price is a major issue for businesses that have to make long-term plans. According to Bangladesh Economic Survey 2016, households consumed about 13 percent of the total gas produced in the country in 2014-15, while captive generators consumed 17.12 percent and industries 16.79 percent. The Dhaka Chamber of Commerce and Industry said the gas price increase would push up the cost of doing business and also inflation. “It will also impede export competitiveness, increase transportation costs and the overall cost of doing business,” it said in a statement on Saturday. Gas-based power generation, captive power generation and fertiliser production would also be costlier due to this gas price hike, said the chamber. The Exporters Association of Bangladesh (EAB) said the increase would harm all industries, including the export-oriented ones. “The EAB thinks the hike goes against the interests of the manufacturers, consumers and the public alike.” EAB President Abdus Salam Murshedy said the increase would have direct negative impacts on exporters of fish, frozen food, plastic, leather and garment, and also erode their competitiveness on the global market. Gas prices have been raised at a time when garment exporters are already under pressure for meeting compliance following the Rana Plaza disaster, he said. According to a survey of Bangladesh University and the State University of San Francisco, remediation cost at a garment factory is Tk 4.9 crore on average. Sheikh Fazlur Rahman Bakul, president of Bangladesh Steel Mills Owners Association, said the industries don't get adequate gas supply even though they pay the bills regularly. “There are days when we don't get any gas, and there are days when the pressure in gas supply is low.” Zahid Hussain, lead economist of the World Bank in Dhaka, said gas prices in Bangladesh are low compared to those on the international market. He said Petrobangla would get more surplus money due to the price increase. But this money has to be used for the development of the gas sector. With the country's gas reserves depleting fast, initiatives must be taken to improve infrastructure in the sector and explore new gas sources instead of keeping thousands of crores of taka in banks as idle money, he told this correspondent. The economist noted that consumers would not complain much about paying additional prices if they are convinced that gas supply would increase and new gas connections would be given soon. “At the moment, only the cost is going up, and there is no good news on increase in supply.” Zahid suggested bringing reforms to the pricing mechanism and making it market-based.
Source: The daily Star
THE government is taking effective steps on all fronts while exploring every aspect under a multi-pronged strategy to achieve country’s ambitious export target of US dollars 35 billion by 2018. This could be well-judged by the government’s initiatives of Rs180 billion incentive package for exporters, besides speedy completion of energy generation projects under the China Pakistan Economic Corridor (CPEC) zero-rated regime for top five textile sectors, besides encouraging up-gradation of existing industrial units including allied and vending industry. Other incentives such as zero load-shedding for industry; revamping of transport infrastructure including railway system, motorways and other road networks; besides focus on new products and destinations are also a part of this multi-faceted strategy to achieve the targets. Exports in Pakistan increased to Rs186.384 billion (USD 1.78 billion) in January 2017 from Rs180.899 billion (USD 1.73 billion) in December of 2016. Monthly exports in Pakistan over the last few decades averaged at Rs38.82359 billion (USD 0.37 billion), reaching an all time high at Rs 275.483 billion (USD 2.63 billion) in September 2013. . Pakistan’s main exports are: 19 per cent mineral fuels The government is targeting USD 35 billion exports by 2018 and endeavoring to , 19 per cent manufactured goods; 13 per cent beverage and tobacco. Others include: 11 per cent food and live animals; 11 per cent crude materials; 11 per cent chemicals, 8 per cent machinery and 8 per cent miscellaneous articles. Main export partners are: 13.6 per cent United States,11 per cent China, 8.5 per cent each to United Arab Emirates and Saudi Arabia. Improve the trade situation of the country including zero-rated sales tax regime for top five textile sectors to bring down industrial costs for the value-added textile sector and help increase their exports. Prime Minister Muhammad Nawaz Sharif gave Rs180 billion incentive package to exporters to boost the country’s exports. Under the package, sales tax and customs duty on import of textile machinery and cotton have been abolished. This will not only boost the exports and our products competitiveness in international market, but also lower the cost of doing business. A number of projects of power generation through hydel, coal, solar, wind, and other resources were being initiated under the CPEC investment, beside many others being financed by Pakistan government to ensure availability of cheaper electricity on sustainable basis. The government is committed to add 10,000 megawatts electricity to the system by 2018 and 30,000MW within the next few years. To boost transport infrastructure Pakistan Railways is also being revamped and upgraded with US $ 8 billion investment with the improvement plan envisaging to double the speed between Karachi and Peshawar.A network of roads, highways and motorways is being laid at a cost of Rs1000 billion to integrate different regions of the country. Keeping in view the fast developing China-Pakistan Economic Corridor (CPEC), the government is encouraging the local industrialists to upgrade their industrial units including allied and vending industry of the country besides product value addition to cope with possible challenges set to arise with industry’s expansion under CPEC. Trade Development Authority of Pakistan (TDAP) Director General (Sub-Regional Offices Punjab) Mian Riaz Ahmed told APP that TDAP was working to increase exports holistically while taking aboard all stakeholders. It was also building coordination with respective public-private sectors, taking up products value addition, encouraging export-oriented foreign investment and joint ventures, besides trade diplomacy in the key global markets for Pakistani products and services. Mian Riaz Ahmed added that TDAP was also focusing export products diversity as well as increasing product base and reducing dependence on traditional products and markets. He explained that TDAP was focusing new exports destinations including Mexico, Central Asian States, African countries and Doha, while regularizing banking channel with Iran, Masco and other countries that would definitely jack up sale of Pakistani products and services abroad. Pakistan was also taking measures to capture a major share from USD 3 trillion global market of Halal Foods, he said and mentioned that UAE had lifted ban on poultry imports from Pakistan after eight years. TDAP Director General said, “We have added IT sector in our exportable services. We are also putting things in order for skill development of labour force, and TDAP had established Cutlery Institute at Wazirabad for training, research and skill development”. At Gujrat, an Export Display Centre had been established under public-private partnership to showcase exportable products manufactured in Gujrat, Gujranwala, Wazirabad and Sialkot, for foreign buyers,he cited. Lahore Chamber of Commerce and Industry (LCCI) President Abdul Basit appreciated government’s initiatives on various aspects to stabilise exports. He, however, called upon the government to take further steps in this direction, citing that cost of doing business is another factor leaving Pakistani industry uncompetitive in the world market. “This issue could be addressed through provision of inexpensive energy to industry and reduced customs duty on raw materials of export-oriented industry”. He suggested that government should develop common export cluster facilities for firms producing technology-intensive products to enable SMEs in medium/high technology sectors to complement each other’s resources and expertise. According to Global Enabling Trade Report 2014, he mentioned, Pakistan ranked 88 in the availability of trade finance so establishment of a separate bank was indispensable to provide export finances/loans/credit on soft terms along with other services to exporters for rapid growth of exports. Abdul Basit also stressed the need to diversify the exports in terms of markets as about 60 percent of Pakistan’s exports go to ten countries namely, USA, China, UAE, Afghanistan, UK Germany, France, Bangladesh, Italy and Spain. “There is ample potential for increasing exports to large dynamic world markets, where Pakistan was an under achiever i.e. South America, Africa, Central Asian Republics (CARs) and Russia where the combined share of Pakistan exports was less than 10 percent of the total exports of Pakistan. The commercial sections of Pakistan embassies in these aforementioned markets should showcase country’s exportable products in collaboration with the chambers of commerce”, he maintained. Development of specialized/other skills is also crucial to ensure availability of skilled labour force. Also, competent engineers and managers for the industrial units were required to adopt new technologies to manage complex production processes in developing the products demanded internationally. Lahore Chamber President advised the government to also train the people on costing and pricing; process control; export market brand Development of post-harvest and cool-chain facilities were also of paramount importance to extract full value from strategy; market research; market access requirement; online marketing, export marketing strategy, export documentation; packing and packaging standards. He pointed out that viable strategy/infrastructure was needed to achieve growth in agro-based exports, as various agricultural commodities were not able to realize their tremendous export potential due to lack of quality testing facilities. fresh produce by preserving the quality and enhancing shelf-life of agricultural commodities from harvesting to their arrival at the market. “Pakistan can also enhance its exports by tapping the tremendous potential of Halal Foods, which are one of the fastest growing markets in the world with a share of more than 15 per cent (more than US$ 3 trillion) in the world trade,” he added.—APP
Source: Pakistan Observer
On conclusion of the Dhaka Apparel Summit 2017, it is now time for taking stock of its outcomes. Has it been able to send the right messages to the parties who matter most? Admittedly, the enthusiasm of the organisers of the second edition of apparel summit got somewhat dented well before the event when four overseas brand retailers made it known that they would not attend it. The organisers -the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and Bangladesh Apparel Exchange (BAE) -- certainly deserved better. They have not only been painstakingly preparing for the event to showcase their successes in remediation for improving factory environment and safety but also their greater efficiency in product manufacture. Participation of the four famous brands would have made the organisers pleased. They naturally expected that their efforts expended on compliance issues got duly appreciated. In this connection, the commerce minister's reiteration of the demand for duty-free and quota-free access to US market, particularly after America's withdrawal from the Trans-Pacific Partnership (TPP) deal, should fall on receiving ears. But to go by the speech US Ambassador in Bangladesh Marcia Bernicat made at the event, there is still some way to go before her country grants such a facility to Bangladesh garments. Renovation or refurbishing garments factories, according to her, need to be comprehensive. Her contention is that the factories outside the purview of the Alliance for Bangladesh Worker Safety and the Bangladesh Accord must as well be brought under a consistent and sustainable inspection. Once all RMG stakeholders go by effective regulations, Bangladesh might be entitled to the favour. Also, she did not mince words when she spoke of the punitive actions against garments workers in Ashulia following the recent strikes. Her indication was that addressing the grievances of workers could be a better option. Now if the fall in prices of RMG and rise in production cost of apparel are analysed against this background, the picture does not look very bright. A proposal for further share in remediation by the overseas importers has not got receptive ears either. So the obvious choice for garments factories here is to fend for themselves. The European market, although growing sluggish, at least maintains the duty-free facilities. A further option would be to explore market in Russia and the countries that have become independent from the former Soviet Union. A few other East European countries can similarly be interested in apparel from Bangladesh. Prime Minister Sheikh Hasina has gone one step ahead in that she rightly felt the need for coming out of the RMG-centric export mentality. The export basket should indeed be diversified if a long view is taken about the future of the country. Evidently, Bangladesh has the potential to outshine the world when it comes to green environment of factories. Already a few have made it a reality. But it costs. And the buyers abroad should be ready to part with some extra bucks for products made in such factories. If they do not, producers here should keep their options open. If this means going beyond the known territories, so be it.
Source: The Financial Express Bangladesh
RECENTLY I visited the Dhaka Textile and Garments Machinery Fair held in the Bangabandhu International Conference Centre. As it was a weekly holiday I found a big crowd at the fair venue. It was a great gathering of both buyers and sellers. Bangladesh is now the second largest garments exporter in the world and we may soon find ourselves topping the list of exporters if we can make our country more investor-friendly. The RMG sector now employs 4.4 million people and many more are indirectly dependent on it. The fair was held from February 23 to February 26. New technology and state of the art machinery were on display in the fair. It was a great opportunity for local and foreign entrepreneurs to have a glimpse of our RMG sector. Despite slowing down of the world economy, Bangladesh witnessed a sharp rise on RMG exports, thanks to tireless efforts of entrepreneurs, workers and the Bangladesh government. As demand for Bangladeshi RMG products is increasing, the government should make the road smoother for RMG exporters of the country and make Bangladesh number one in the world of RMG exports. Mohammed Sohel hara, Bonosree, Dhaka
Source: The Financial Express Bangladesh
