Countrys synthetic fibre industry is estimated to grow by around 5-6 per cent per annum over the next five years period. "Indias synthetic fibre industry has grown from 43 million tonnes (MT) in 2002 to 63 MT in 2017. We expect the industry to grow at 5-6 per cent CAGR in the next five years period," Association of Synthetic Fibre Industry (ASFI) president Rajen Udeshi told reporters here today. The countrys textile industry is estimated at USD 130 million and aims to grow to USD 300 million in next few years. In line with the growth of textile industry, we need fibre industry also to grow as we have limited supply of cotton in the country, Udeshi said on the sidelines of 11th Asian Chemical Fibre Industries Federation (AICIF) conference. Udeshi pointed out that several states like Maharashtra, Gujarat and Madhya Pradesh are giving incentives for setting up synthetic fibre industries. "India has a lot of scope. Industry needs to work hard and convert it into opportunities. High-quality fabric is the need of the hour," Udeshi said. The industry also seeks support from the government for faster growth by providing fibre neutrality, removal of all exemptions in value chain and uniformity in duty structure, he said. The two-day AICIF conference concluded here today revolved around the theme of Low crude price regime: Creating sustainable strategies for the chemical fibre industry. It had delegates from nine countries including China, Indonesia, Japan, Korea, Malaysia, Pakistan, Chinese Taipei and Thailand. PTI AP RMT RDS
Source: India Today
NEW DELHI: India’s merchandise exports increased at the fastest pace in almost six years in March led by an overall rise in shipments across sectors even as a steeper rise imports due to firmer commodity prices widened the trade deficit. Buoyed by petroleum, textiles, engineering goods and gems and jewellery, exports zoomed 27.59% in March to $29.2 billion but a 45.25% increase in imports on the back of higher gold imports led to a trade gap of $10.4 billion. This is the seventh consecutive month of rise in exports this year. Twenty-five out of 30 sectors showed an increase in exports led by iron ore. India’s imports in March were $39.6 billion of which gold imports were $4.1 billion, up 329% year-on-year. Imports too rose at a six-year high. “In continuation with the double digit growth exhibited by exports during February 2017, exports during March 2017 have shown a significant growth…Overall the trade balance has improved,” commerce and industry ministry said in a statement on Thursday. However, the robust monthly data failed to boost annual exports to the $300-billion mark. India exported goods worth $274.6 billion in 2016-17, 4.7% higher than $262.2 billion in FY16. Trade deficit in 2016-17 was $105.7 billion. “With these numbers, we expect exports to touch $325 billion this year led by high exports of gems and jewellery. We have political stability, reforms are underway and measures on ease of doing business will start showing results,” said Ajay Sahai, director general of the Federation of Indian Export Organisations. The pace of growth of non-oil, non-gold imports firmed up to 19.8% indicating strengthening domestic demand. Oil imports in March saw a 101% spike to at $9.7 billion while nonoil imports were up 33.21% at $29.9 billion. The pickup in nonoil merchandise exports was led by engineering goods, gems & jewellery and textiles. “Both merchandise imports and exports posted a surprisingly sharp expansion in March 2017, partly reflecting higher commodity prices and raising doubts on the sustainability of this growth,” said Aditi Nayar, principal economist at ICRA Limited. India’s healthy export numbers have come when Chinese overseas shipments last month jumped the most in two years. Global merchandise trade is expected to rebound this year, with the World Trade Organization forecasting a growth of 2.4% in 2017 as compared to 1.3% in 2016.
Source: Economics Times
KT Rama Rao, handlooms and textiles minister of Telanagana has asked officials to formulate a handloom directory containing all the details of the weavers' condition. He said that policies should be made to directly give subsidy benefits to handloom weavers and it could be made available to them by linking their Aadhaar and biometric identities. Rao said at a review meeting held with concerned officials that chief minister K Chandrasekhar Rao wished to have a detailed document containing information about the number of handlooms, weavers and workers, production capacity of the units and more. It will help the government create special policies to benefit the handloom and powerloom sectors. The minister has also asked for data regarding the number of silk, cotton and grey cloth weavers as well as the information pertaining to marketing facilities for purchasing their items. The weavers should also get the opportunity to sell their items to the government as well as the outside market. The government already provides 50 per cent subsidy on yarn to handloom weavers. The plan to set up handloom depots owned by the state in addition to National Handloom Development Corporation yarn depots was also discussed at the meeting.
Source: Fibre2Fashion
The Rs 2,000 crore project will come up on 2,000 acres of government land at Pinjarat village. The state government has decided to depute industries commissioner Mamta Verma to the site on April 17 to examine the viability. Stating that setting up of a mega textile park at Pinjarat village in Olpad taluka of Surat district will affect the environment and violate Coastal Regulation Zone (CRZ), the Gujarat Khedut Samaj has on Thursday lodged its protest with the Southern Gujarat Chamber of Commerce and Industry (SGCCI) to drop the latter’s move to set up the same. The chamber had submitted its draft proposal to develop a Mega Textile Park on the government land to the state chief secretary last week. The Rs 2,000 crore project will come up on 2,000 acres of government land at Pinjarat village. The state government has decided to depute industries commissioner Mamta Verma to the site on April 17 to examine the viability. Gujarat Khedut Samaj president Jayesh Patel on Thursday met SGCCI president B S Agrawal and handed over a memorandum to him. In the memorandum, GKS has pointed out that that the project land falls near the coastal area and under inter-tidal zone area, as prescribed by Surat Urban Development Authority (SUDA) plan 2035. This would pose threat to the industries during high tides in the sea. Further, the project land falls within the 500 metre area of Coastal Regulatory Zone and that this would adversely affect hit the fishermen of Pinjarat village by snatching away their livelihood. SGCCI president B S Agrawal said, “We will form an expert team to look into all the objections raised by Gujarat Khedut Samaj. We will also follow the environmental norms and see that there is no disturbances caused to the environment and later we will decide whether to go ahead with the project or not.” GKS member Darshan Naik said, “We have tried to prevail over the SGCCI president on the ill-effects of the proposed project as it will violate the CRZ norms and even endanger the mangrove plantations. He had assured us that he would consider all our objections and will later come to any conclusion. The same group had launched an agitation against notifying of Choryasi and Olpad under the Special Investment Region which had forced the government to denotify them, in 2014.
Source: The Indian Express
The Brand Trust Report — India Study 2017, launched recently by TRA Research, a brand intelligence and data insights company, revealed that representation from Tamil Nadu has increased this year by nine; the previous list had 21 companies. Of the 1,000 brands listed, new entrants RmKV and Pothys were ranked 413 and 459 and educational institutions Veltech University and Panimalar at 464 and 559, respectively. In dairy industry, Hatsun and GRB Diary Products debuted and ranked 555 and 724, respectively. Other Tamil Nadu companies include Sprinkle Salt 984 and Gold Winner oil at 775. Chennai-based automobile manufacturer TVS was ranked 34 as opposed to 46 last year and Nissan jumped six places to occupy the 161th position this year. Addressing media people at the launch on Thursday, N Chandramouli, CEO, TRA Research, said, “The brands from Chennai have been doing consistently well, especially the ones in niche segment such as textiles and consumer goods.” Overall, Samsung was ranked India’s most-trusted brand of this year, followed by Sony and LG. Apple ranked fourth, a rise of 12 ranks followed by Tata, Honda, Maruti Suzuki and Dell at fifth, sixth, seventh and eighth positions, respectively. Lenovo climbed 18 ranks from last year and was placed ninth followed by Bajaj at the tenth spot.
Source: Business line
Khadi and Village Industries Commission (KVIC) is planning to set up 7 to 8 khadi centres in the state of Meghalaya this year, said the organisation's chairman Vinay Kumar Saxena. Each centre's estimated cost is Rs 9 lakh and the annual production is likely to be around Rs 16 to Rs 17 lakh. They are also expected to provide employment to locals. The chairman of KVIC added that state's khadi activities were not up to the mark. The required attention was not given to khadi in the last 20 years in spite of the fact that the industry has the potential to generate employment for the people of Meghalaya. KVIC is charged with the planning, promotion, organisation and implementation of programs for the development of khadi and other village industries in the rural areas in coordination with other agencies engaged in rural development wherever necessary.
Source: Fibre2Fashion
Profitability of Indian yarn spinners may come under pressure due to various challenges like high raw cotton prices, while demand for cotton yarn is expected to remain moderate. Under the circumstances, spinners may opt to reduce capacity utilisation or contribution. Hence, their profitability is likely to remain under pressure in the near future. "Other than profitability pressures, higher cotton prices will lead to higher working capital requirements and in turn higher borrowings," a news agency informed quoting an ICRA report. "Cotton prices remained high due to low domestic availability in the first half of 2016-17 and also due to higher volume of exports. In the last quarter of fiscal 2016-17, domestic cotton prices averaged at Rs 120 per kg, up 29 per cent year over year," the ratings agency said. "The improved competitiveness of polyester fibre as against cotton fibre resulted in a 5 per cent year on year growth in synthetic yarn production in fiscal 2017," the report observed.
Source: Fibre2fashion
The Cabinet Committee on Economic Affairs (CCEA), chaired by PM Narendra Modi has given its approval for the increase in the minimum support price (MSP) for raw jute for 2017-18 season to protect the economic interests of the farmers. It has been increased to Rs 3,500 per quintal for 2017-18, an increase of Rs 300 (9.4 per cent) over the previous year. During last three years (2015-16, 2016-17 and 2017-18), government has increased the MSP for jute from Rs 2,700 to Rs 3,500 (29.6 per cent) as compared to increase from Rs 2,200 to Rs 2,400 (9.1 per cent) in the preceding three years (2012-13, 2013-14 and 2014-15). Jute is mainly used as raw material for packaging industry. The increase in MSP would benefit the jute industry, which supports the livelihood of around 40 lakh farm families and provides direct employment to 3.7 lakh workers in organised mills and in diversified units including tertiary sector and allied activities. These farm families are mainly concentrated in the states of West Bengal, Bihar and Assam, which account for over 95 per cent of the area as well as jute production in the country. New varieties of jute viz., JRO-204, JBO-2003, JRS-517, JRC-532 and JRO-2407 are being promoted by providing support for seeds production under National Food Security Mission (NFSM)-Commercial Crops. National Seeds Corporation Limited has entered into agreement for promotion of new varieties of jute seeds in the jute growing states.
Source: YNFX.
The government plans to facilitate loans at concessional interest rates for artisans and weavers belonging to the Scheduled Caste, with Textiles and Social Justice Ministries inking a pact in this regard on Friday. A Memorandum of Understanding (MoU) was signed between the Development Commissioner (Handlooms) and the National Scheduled Caste Finance and Development Corporation. The two parties will also collaborate for capacity building including skill upgradation and economic development of Scheduled Caste weavers and their families besides organising exhibitions and fairs for providing marketing assistance to enhance their earnings. According to the pact, they will promote production and marketing of high quality handloom products at block level clusters in States such as Gujarat, Rajasthan, Maharashtra and Odisha.
Sharpening skills
“This endeavour shall enable Scheduled Caste weavers to sharpen their skills for production and marketing of high quality handloom products and better marketing linkages and, therefore, to have more income,” an official statement said. The pact was signed in the presence of Union Textiles Minister Smriti Irani and Minister of Social Justice and Empowerment Thawar Chand Gehlot here. The DC (Handlooms) and the National Scheduled Caste Finance and Development Corporation come under the Ministry of Textiles and the Ministry of Social Justice and Empowerment, respectively. “There was a time in India where ministers did not talk to each other and the conflict between ministers used to be front-page news,” Irani said. The collaboration between the two ministries was proof of how various arms of the NDA government work in conjunction with each other, she added. The Minister informed that from April 1, Schedule Caste artisans and weavers are being provided 75 per cent subsidy on taking up courses from Indira Gandhi National Open University and National Institute of Open Studies, to extend quality education to those belonging to backward communities.
Source: Business Line
MUMBAI: E-way bills will be required for movement of all goods, whether within the state or across states. The multi-layered process involved will make transport of goods a cumbersome, delayed and costly affair under the GST regime, according to industry watchers. E-way or transit bills will also be required for transport of goods outside the GST ambit, such as petrol or diesel or even exempt goods like agricultural products. Draft rules in this regard were released late on Thursday. The entire process requires participation by the supplier, the transporter and even the recipient, which has to communicate its acceptance or rejection of the consignment covered by the e-way bill within a short span. "The introduction of e-way bills defeats the design of GST, which is a self-policing mechanism. If at all, e-way bills could have been introduced only for specific goods where past experience reflected tax evasion," points out Prashant Deshpande, indirect tax partner at Deloitte-India. In simple terms, for transport of goods, where the consignment value exceeds Rs 50,000, the first step is for the consigner (eg: supplier) to upload details onto the GSTN portal. If the goods are being transported by a third-party transport company, then based on such information uploaded by the sender, the transport company will upload further details to create a final e-way bill. This e-way bill is to be carried along with the goods that are being transported. Upon generation of the e-way bill on the GSTN portal, a unique e-way bill number (EBN) shall be made available to the supplier, the transporter and the recipient of goods. Now the complexities begin. "At times, a lorry may not have a pan-India permit, or there could be unforeseen circumstances such as an accident. Thus, in the course of transit, goods would be transferred from one vehicle to another. In such circumstances, the transporter has to create a new e-way bill on the GSTN portal, before further transit. A lot rides on the transporter's ability to be able to keep up with the new rules. It also puts an additional load on the GSTN portal," says Sunil Gabhawalla, chartered accountant and GST specialist. Where multiple consignments are to be transported in one vehicle (say, a lorry is catering to three different suppliers), the transporter is required to indicate the serial number of the e-way bills generated in respect of each such consignment on the GSTN portal. "A consolidated e-way bill in the required form is to be generated by the transporter prior to the movement of goods — this will make tracking cumbersome for all parties involved," explains Gabhawalla. The validity period of the e-way bill, which is dependent upon the distance involved for transport of goods, is another great cause of concern. A wide range is provided: If the distance is less than 100 kms, the validity period is one day. The maximum validity period is 15 days, where the distance is more than a 1,000 kms. "The timeline is very strict and impractical — exigencies can arise in the course of transport entailing delays in transit beyond the specified number of days. The draft rules permit physical verification of the goods in transit. Thus, a stale e-way bill could result in detention of the vehicle," adds Gabhawalla. The recipient of the goods, if it is a registered entity under GST, has to communicate its acceptance or rejection of the consignment covered by the e-way bill, within 72 hours of the details being available on the GSTN portal. Else, the recipient is deemed to have accepted the details. "There was no need for this additional layer of verification of e-way bills by the buyer as the GSTN system, which operates on a matching concept, already captures such a requirement. The supplier is to provide outward supply details in GST Returns -1, by the 10th of each subsequent month. Details are auto-populated on the GSTN portal and made available to the recipient in GST return 2A for verification within a stipulated time. Changes, if any, on verification, are again to be accepted by the supplier," explains Deshpande. Gabhawalla sums up, "Under the draft rules, a buyer will have to keep checking the GSTN portal. As the buyer generally has to show an output (sale) against an inward consignment, any lapse — say, in rejecting an erroneous e-way bill — will result in legal and tax consequences."
Source: Times of India
BEIJING: The New Development Bank (NDB) set up by the BRICS countries -- Brazil, Russia, India, China and South Africa -- plans to issue bonds this year in Indian rupee and Chinese yuan, its president KV Kamath said today. The bank sold its first three billion yuan ($437 million) yuan-denominated bonds in China last year in July to fund clean energy projects in member-states. Kamath, a former executive with India's largest private lender ICICI Bank, told the state-run Xinhua news agency that after last year's issuance of bonds, the preparation for the second batch of yuan-denominated bonds, possibly in the second half of this year, is expected to be more smooth. The size will be around three billion yuan, similar to the last one. He said the issuance will come after the bank is rated by international rating agencies. Between $300-500 million of rupee-denominated 'masala' bonds will be issued after July, added Kamath, who is based in Shanghai. 'Masala' bonds are rupee-denominated bonds issued outside India. Kamath said the NDB plans to lend $2.5-3 billion to fund 15 projects to member-states this year, up from $1.5 billion for seven projects in 2016. Most projects last year were connected to clean energy and transportation. Kamath said the loans will go to more sectors this year. For example, in India the bank will prioritise rural drinking water networks and infrastructure projects. The BRICS bank was set up with an initial authorised capital of $100 billion after leaders of Brazil, Russia, India, China, and South Africa signed a treaty for its establishment during the sixth BRICS Summit in Fortaleza, Brazil, in 2014.
Source: Business Standard
More than 18,000 man-hours that the GST Council sat on discussions, 175 officer meetings, and training programmes for over 51,000 government officials and 31,000 industry professionals -the work that went behind the constitutional amendment on GST and four subordinate laws was enormous. On Wednesday, Revenue Secretary Hasmukh Adhia gave a lowdown to the council of ministers on the efforts that have gone into making the landmark indirect tax reform a reality. President Pranab Mukherjee gave his assent on Wednesday to the subordinate legislations passed by Parliament recently, paving the way for GST to be rolled out on July 1. Wednesday's presentation by Adhia, in the presence of the Prime Minister, served as a “good opportunity“ for ministers to un derstand the intricacies of the new tax regime, a senior government official told ET, speaking on the condition of anonymity. “The PM asked all ministers to clarify any doubts they have about the GST from Adhia. The PM said this is important as the ministers will face similar questions from people,“ the official added. Adhia listed out six key points on the “Way Forward“, with specific stress on ensuring a smooth change-over to the new tax system. The Central Bureau of Excise and Customs is training officials both at the Centre and states and organising outreach programmes for trade and industry , Adhia said. A top priority looking ahead would be passing of state GST laws by the state legislatures. Others include fixing tax rates on various categories of goods and services as well as finalising rules relating to “registration, returns, valuation, transitional and input credit, etc.“, as per Adhia's presentation. The presentation cited six major benefits of GST, including an overall reduction in prices for customers, reduction in multiplicity of taxes as well as cascading and do uble taxation and a uniform rate of tax and common national market. Adhia said it will lead to a broader tax base and “decrease in black transactions“, a free flow of goods and services with “no checkpoints“ and a “non-intrusive electronic tax compliance system“ as all transactions and processed will be through electronic mode. Infosys has been appointed as a managed service provider for the GST Network, the presentation showed. Also, 34 GST Suvidha Providers have been appointed to provide technology-based assistance and there will be GST practitioners to assist in filing of returns. On questions from ministers, Adhia clarified that a main feature of the GST Act was that as credit would be available to the recipient only if invoice was matched, it would help fight evasion of taxes. He also told the ministers how the GST was “10 years in making“ since the announcement was first made in 2006 to introduce it by 2010.
Source: Economic Times
Bangalore – The impressive speaker line-up for Planet Textiles 2017, which takes place on 24th May at the JW Marriott Hotel in Bangalore, India, continues to gather pace with the addition of Colleen Vien, Director of Sustainability at Timberland and Ian Rosenberger, CEO and founder of Thread International. The event – co-organised by MCL News & Media and the Sustainable Apparel Coalition – is part of a week-long series of events at the JW Marriot in Bangalore on sustainability and social compliance in the textiles sector. Planet Textiles takes place the day after the two-day Sustainable Apparel Coalition annual members meeting and before the Fabric of Change Globaliser Summit presented by Ashoka and the C&A Foundation. Timberland and Thread International will give a joint presentation on their collaboration in poverty stricken Haiti where Thread has shipped nearly 200,000 lbs of recycled plastic out of the country to eventually be processed into textiles, garments and footwear which in turn has provided employment for poor local families in the country. As Timberland’s Sustainability Director, Colleen Vien is in charge of ensuring ethical and sustainable sourcing at the brand which sources from over 300 suppliers in more than 35 countries. She also oversees the company’s involvement in the Sustainable Apparel Coalition, the Outdoor Industry Association, the Fair Factories Clearinghouse, Social Accountability International, and the Clinton Global Initiative. The issues of water availability, water conservation in wet processing, wastewater discharge, the circular economy and the rise of environmental awareness in India will dominate this year’s Planet Textiles Summit with other speakers at this year’s event also including the Indian Government’s Textile Commissioner, Dr Kavita Gupta, Manoj Gulati, Executive Director, India, of the international NGO Water.org, Stefan Seidel, Head of Corporate Sustainability at Puma Group, Frank Michel, Executive Director at the ZDHC Group, Sven Herrmann Ellen MacArthur Foundation, Gunjan Sharma, CMO, Reliance Polyester Sector, Jason Kibbey, CEO, the Sustainable Apparel Coalition, Shreyaskar Chaudhary, the CEO and owner of cotton textile conglomerate Pratibha Syntex, among others.
Source: Knitting Trade Journal
We initiate coverage on Welspun with Outperform and target price of `115. The global home textile market size is $45 bn, with expected 8.3% CAGR over 2015-20. Welspun is a leading player in cotton towels and cotton bed sheets, with a continuously growing market share. We initiate coverage on Welspun with Outperform and target price of `115. The global home textile market size is $45 bn, with expected 8.3% CAGR over 2015-20. Of this, the US cotton textile market is $7.5 bn and India has a strategic advantage in this market due to the supply of cotton and free market access. In cotton bed sheets and towels, India has 50% and 40% market share, respectively, in the US. Welspun is a leading player in cotton towels and cotton bed sheets, with a continuously growing market share. Three legs for the next phase of growth: Welspun’s business posted 17% organic CAGR over FY12-16, and in FY16, it drew out a “Welspun 2.0” strategy, targeting $2 bn revenue by 2020 ($1 bn in FY17). New products/channels, new geographies (Europe, Japan, India, Australia) and innovative/branded products are the key components of this strategy. Well set for a recovery in FY19: The provenance issues of Egyptian cotton sheets in August 2016 led to the loss of a major client and a 13% fall in the revenue base. However, management handled the situation well, in our view. While revenue growth may drop to 5-8% in FY17-18 due to this, we expect a recovery in FY19, with 15% revenue growth. The new flooring capacity will also be operational in FY20, and can add 8-9% to FY20 revenue growth. While the margins may settle at 22-23% over the next 2-3 years, we expect over 20% earnings growth in FY19. Initiate with Outperform: We initiate coverage on Welspun India with an Outperform rating and target price of `115, offering 37% potential upside from the current price. The fundamentals of the business are attractive, Welspun is a leading and well-managed player, the balance sheet is in a comfortable position and cash flows are attractive. While the Egyptian cotton provenance issue was an unfortunate one and likely reflects poor processes, we believe management handled the situation well and has come out of it with strong processes. We value the stock at `115 using a DCF model, with a cost of equity of 12.8%, target D/E of 0.25x, and terminal growth of 5%. On FY19 estimates, Welspun’s P/E and EV/Ebitda multiples are also in line or lower than its peer group. We estimate a 6% FCF yield in FY19. Any trade barriers, high customer concentration and volatility in cotton prices/currency are key risks.
Source: Financial Express
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1105.93 |
USD/Ton |
-2.24% |
4/13/2017 |
|
VSF |
2320.64 |
USD/Ton |
-6.98% |
4/13/2017 |
|
ASF |
2219.11 |
USD/Ton |
0% |
4/13/2017 |
|
Polyester POY |
1138.56 |
USD/Ton |
-1.07% |
4/13/2017 |
|
Nylon FDY |
2712.25 |
USD/Ton |
-18.70% |
4/13/2017 |
|
40D Spandex |
5366.48 |
USD/Ton |
1.37% |
4/13/2017 |
|
Polyester DTY |
1363.38 |
USD/Ton |
-3.09% |
4/13/2017 |
|
Nylon POY |
3016.83 |
USD/Ton |
-17.46% |
4/13/2017 |
|
Acrylic Top 3D |
5816.10 |
USD/Ton |
0% |
4/13/2017 |
|
Polyester FDY |
1377.88 |
USD/Ton |
-2.06% |
4/13/2017 |
|
Nylon DTY |
2552.70 |
USD/Ton |
-18.89% |
4/13/2017 |
|
Viscose Long Filament |
2393.16 |
USD/Ton |
0% |
4/13/2017 |
|
30S Spun Rayon Yarn |
2915.30 |
USD/Ton |
-4.29% |
4/13/2017 |
|
32S Polyester Yarn |
1711.47 |
USD/Ton |
-1.26% |
4/13/2017 |
|
45S T/C Yarn |
2683.24 |
USD/Ton |
-0.54% |
4/13/2017 |
|
40S Rayon Yarn |
1827.50 |
USD/Ton |
-4.55% |
4/13/2017 |
|
T/R Yarn 65/35 32S |
2248.12 |
USD/Ton |
-0.64% |
4/13/2017 |
|
45S Polyester Yarn |
3074.85 |
USD/Ton |
-4.07% |
4/13/2017 |
|
T/C Yarn 65/35 32S |
2349.65 |
USD/Ton |
1.25% |
4/13/2017 |
|
10S Denim Fabric |
1.35 |
USD/Meter |
0% |
4/13/2017 |
|
32S Twill Fabric |
0.85 |
USD/Meter |
0% |
4/13/2017 |
|
40S Combed Poplin |
1.18 |
USD/Meter |
0.12% |
4/13/2017 |
|
30S Rayon Fabric |
0.66 |
USD/Meter |
-1.09% |
4/13/2017 |
|
45S T/C Fabric |
0.67 |
USD/Meter |
0% |
4/13/2017 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.14504USD dtd.13/04/2017) The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Azerbaijan expects to see a real growth in cotton production, as the government has focused on giving a new life to this industry. At the recent conference on the development of cotton-growing in Azerbaijan, President Ilham Aliyev said that the government has been providing large state support to cotton growing since last year. Cotton sowing has begun in the Agdam region of Azerbaijan and currently cotton is sown on an area of 500 hectares. Overall, they have planned to plant an area of 3,000 hectares. Acreages are prepared in accordance with agrotechnical rules. All machinery and equipment needed for planting are in a state of readiness, and high-quality seeds have been imported. It is also planned to drill 30 artesian wells in accordance with President Ilham Aliyev’s decree “On additional measures to accelerate socio-economic development of Agdam region”. He added that the documents necessary to start the drilling of wells are ready. Chief Executive of the region Ragub Mammadov noted that the cotton sowing in Agdam should be completed before the end of April. He said that they were planning to finish planting before April 20. However, unstable weather conditions led to some delays but they will try to finish cotton sowing by the end of April. The industry has already created 64,000 jobs in Azerbaijan during last year, while more 200,000 jobs on cotton-growing are expected to appear in the country this year.
Source: YNFX
LAHORE: The Textile Industry Association (TIA) on Friday demanded swift reimbursement of duty drawback and removal of Federal Board of Revenue chairman for rolling back the Refund Pay Orders (RPOs). TIA is a conglomeration of leading textile industry associations including the All Pakistan Textile Mills Association (Aptma), Pakistan Textile Exporters Association (PTEA), All Pakistan Textile Processing Mills Association (APTPMA), Pakistan Hosiery Manufacturers Association (PHMA), Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) and Towel Manufacturers Association (TMA). In a joint communiqué, office bearers of the associations demanded uniform energy price across the country and proposed the FBR should zero rate five export oriented industry from surcharges to bring the tariff in line with regional competitors. Electricity tariff should not be more than Rs.7/kWh and RLNG should be merged with the system gas to arrive at weighted average cost of gas (WACOG). The rate should not be more than Rs.600/MMBTU inclusive of GIDC. Leaders said the export sectors have yet to receive any benefits of export-led growth package worth Rs180 billion announced by the prime minister in Jan 2017. For 18 months, Rs10bn monthly payments have not been passed on despite passing three months.
Source: Dawn.com
KARACHI: The cotton market remained steady on Friday amid slow trading and lack of buying interest from spinners. Outstanding refunds held with the Federal Board of Revenue and high cost of doing business have put the textile industry in a difficult situation, brokers said. Though a wide gap between demand and supply of cotton persists, falling exports of textile goods have reduced cotton demand considerably, they added. Brokers believe that the fate of next cotton crop also hangs in the balance because the government has not taken any decisive measures or policy so far to avoid a repeat of last two years’ crop failure. The Karachi Cotton Association left its spot rates unchanged. Trading on ready counter was slow and restricted. Major deals included: 1,000 bales from Sadiqabad at Rs7,000 par maund (around 37 kilograms) and 800 bales from Haroonabad at Rs6,800 to Rs7,000. World’s leading cotton markets gave mixed trend on Friday.
Source: Dawn.com
Necessary infrastructure and faculties may help turn the Chittagong BGMEA Institute of Fashion and Technology (CBIFT) into a university in the near future. The institute will soon have additional courses along with post-graduate courses. Currently, it offers 4-year courses in Apparel Manufacture and Technology (AMT) and Fashion Design and Technology (FDT). The first batch of 26 students has successfully completed their BSc Honours in AMT and FDT from the institute. They will receive their graduation certificates on a ceremony on April 15 that is being organised to celebrate the fourth anniversary of the institute affiliated with the National University of Bangladesh. Nurul Islam Nahid, education minister of Bangladesh, will be the chief guest at the ceremony, said Nasir Uddin Chowdhury, governing body president, CBIFT at a press conference. The institute started in 2013 with 34 students with the objective of generating technically workforce for the readymade garment industry of the country. It is currently located on 10th and 11th floor of the BGMEA headquarters. Chowdhury said that the number of foreign experts has reduced from 5,000 to 1,000 in five years, saving a lot of foreign currency for Bangladesh.
Source: Fibre2Fashion
Dr Harry Lee, Chairman of HKRITA receives the award from HKSAR Chief Executive Leung Chun Ying. The Hong Kong Research Institute of Textiles and Apparel (HKRITA) has won nine awards from its seven entries at the 45th International Exhibition of Inventions of Geneva. Two of its research entries - new functional textiles from bio-based and degradable fibres, and fine worsted yak yarns and fabrics - have won gold medal each with jury's commendations. In addition, HKRITA has won an additional gold medal, four silver medals, and two special awards. The third gold medal has been earned for its "sleeping thermal comfort assessment system", which is capable of evaluating the performance of bedding products in order to improve the quality of sleep for users. The outstanding achievement of HKRITA at the Geneva exhibition is a clear testimony to the high level of capability of its local professionals and young talent for their innovative use of technology in integrating textiles and apparel, fulfilling the needs of the community and enhancing the quality of living, the institute said in a release. Nicholas Yang Wei-hsiung, secretary for innovation and technology, HKSAR Government, said, "The results achieved by HKRITA serve to recognise local researchers' excellent work and highlight the government's efforts in promoting a policy of fostering a scientific research environment. These efforts and initiatives will be further strengthened by a close collaboration between the government, industry, academia and the research sector, which will give new impetus to Hong Kong's developments in innovation and technology." Edwin Keh, chief executive officer of The Hong Kong Research Institute of Textiles and Apparel, said, "HKRITA has played a vital role in supporting and promoting textile and apparel development in Hong Kong since 2006. Going forward, HKRITA will continue to encourage and support such innovative projects, enabled by our disruptive technologies which set a new paradigm for innovative production, and will continue to liaise with potential business partners in order to stimulate more R&D for textile and apparel development in Hong Kong."
Source: Fibre2Fashion
Leading integrated producer of chemical intermediates, polymers and fibres, Invista has come up with a new technology for trouser socks, Lycra made to fit you, which ensures that the garment designed using it delivers enough force to avoid slipping and falling to ankles. It also optimises compression to avoid digging into the leg, reducing red mark. Lycra made to fit you technology for trouser socks is a new garment construction designed to deliver an improved balance between force and compression, resulting in a product that offers all-round comfort for all sizes, doesn't slip down and digs in less, Invista said in a release. A recent study had found that women were dissatisfied with the products currently in the market. The two main issues were red marks due to digging in cited by 47 per cent and garments slipping down cited by 24 per cent. The new Lycra made to fit you technology resolves these issues besides offering all-round comfort. The technology ensures that the garment delivers enough force to avoid slipping and the trouser sock falling to the ankles, while compression is optimised to avoid digging into the leg, dramatically reducing uncomfortable and unsightly red marks. The concept garments were concept tested in a December 2016 study with 100 women from the US, Europe and China, all different foot and leg sizes. According to the study, 83 per cent rated the product either good, very good or excellent compared to conventional trousers socks. Ninety per cent of women experienced fewer marks and less digging-in, 85 per cent found the garment stayed in place and 90 per cent said that they preferred the Lycra made to fit you technology compared to products currently available in the market place. "We are delighted with the outcome of this new technology and the results from our wear test have exceeded all expectation," states Jenifer Strong, Invista's marketing segment manager for leg wear. "Two out of three non-wearers from our study said that they would now start wearing trouser socks with Lycra made to fit you technology, highlighting its potential to grow the category and build consumer loyalty. This new technology truly delivers a new standard in comfort for women in the US as we are seeing more relaxed fashion at home and in the office," Strong adds.
Source: Fibre2Fashion
Authorities of HCMC will streamline procedures for household businesses to upgrade themselves to companies as part of a broader plan to have 500,000 enterprises registered citywide in 2020. The city will cover all fees for enterprise registration and conditional business licenses, help household businesses with tax code registration procedures, provide advice on trademark registration, create favorable conditions for enterprises to borrow from banks at low interest rates and support their sales on the domestic market. The city encourages household businesses with annual revenue of more than VND5 billion and more than 10 staff to be registered as enterprises. The effort began at three wholesale markets in the city from March.
Source: VietNamNet
