India's growth is expected to rebound to 7.2 per cent in the 2017-18 fiscal and 7.7 per cent in 2018-19 after disruptions caused by demonetisation, the IMF said today, while recommending the removal of long-standing structural bottlenecks to enhance market efficiency. The temporary disruptions (primarily to private consumption) caused by cash shortages accompanying the currency exchange initiative are expected to gradually dissipate in 2017 as cash shortages ease, the International Monetary Fund said in its regional economic outlook. Such disruptions would also be offset by tailwinds from a favourable monsoon season and continued progress in resolving supply-side bottlenecks, the IMF said. The investment recovery is expected to remain modest and uneven across sectors as deleveraging takes place and industrial capacity utilisation picks up, it noted. "In India, growth is projected to rebound to 7.2 per cent in FY2017-18 and further to 7.7 per cent in FY2018-19," the IMF said. "Headwinds from weaknesses in India's bank and corporate balance sheets will also weigh on near-term credit growth. Confidence and policy credibility gains, including from continued fiscal consolidation and anti-inflationary monetary policy, continue to underpin macroeconomic stability," the IMF said. According to the report, growth in Asia is forecast to accelerate to 5.5 per cent in 2017 from 5.3 per cent in 2016. Growth in China and Japan is revised upward for 2017 compared to the October 2016 World Economic Outlook, owing mainly to continued policy support and strong recent data. Growth is revised downward in India due to temporary effects from the currency exchange initiative and in South Korea owing to political uncertainty. Over the medium term, slower growth in China is expected to be partially offset by an acceleration of growth in India, underpinned by key structural reforms. According to the report, in India, improving productivity in the agriculture sector, which is the most labour-intensive sector and employs about half of Indian workers, remains a key challenge. More needs to be done to address long-standing structural bottlenecks and enhance market efficiency, including from liberalising commodity markets to giving farmers more flexibility in the distribution and marketing of their produce, which will help raise competitiveness, efficiency, and transparency in state agriculture markets, it said. In addition, input subsidies to farmers should be administered through direct cash transfers rather than underpricing of agricultural inputs, as such subsidies to the agriculture sector have had large negative impacts on agricultural output, IMF said.
Source: Economic Times
IMF, Asia's growth, Donald Trump, Asia-Pacific growth, Xi Jinping, Emmanuel Macron The IMF, which in April raised its 2017 Asia-Pacific growth forecast to 5.5 percent from its previous October forecast of 5.4 percent, said loose monetary and fiscal policies across most of the region would underpin domestic demand. The International Monetary Fund said Asia’s economic outlook faces “significant” uncertainty and downside growth risks from any sudden tightening in global financial conditions or rise in protectionist trade policies. The IMF, which in April raised its 2017 Asia-Pacific growth forecast to 5.5 percent from its previous October forecast of 5.4 percent, said loose monetary and fiscal policies across most of the region would underpin domestic demand. “However, the near-term outlook is clouded with significant uncertainty, and risks, on balance, remain slanted to the downside,” the IMF said in its Asia-Pacific regional economic outlook released on Tuesday. In April, the IMF kept the region’s 2018 growth forecast unchanged at 5.4 percent. Asia-Pacific recorded 5.3 percent growth in 2016. The report comes at a time when policymakers around the region are wrestling with the challenge of how to navigate rising risks of protectionism under U.S. President Donald Trump, and a potential increase in funding costs as the Federal Reserve steps up the pace of rate hikes. “A possible shift toward protectionism in major trading partners also represents a substantial risk to the region. Asia is particularly vulnerable to a decline in global trade because the region has a high trade openness ratio, with significant participation in global supply chains,” the IMF said. Centrist Emmanuel Macron’s victory in France’s presidential election is “good news” for open trade and globalisation, Changyong Rhee, director of the IMF’s Asia and Pacific Department told a news conference. Rhee added that he hoped a recent agreement between Trump and China’s President Xi Jinping on a 100-day plan for trade talks would lead to expanded global trade rather than a reduction. “So at this moment, I’m cautiously optimistic.” Continued tightening of global financial conditions could trigger volatility in capital flows, and the region could see large spillovers if China’s shift to a more consumption-driven economy proves bumpier than expected, the IMF said. Rhee reiterated that the IMF may need to upgrade its 2017 China growth forecast from 6.6 percent after the economy expanded more than expected in the first quarter, though he also said there are concerns about whether strong credit growth is being allocated efficiently. The IMF emphasised that foreign exchange intervention should not be used to resist currency moves that reflect changes in fundamentals including in the global trade environment or as a substitute for macroeconomic policy adjustments. It added, however, that “judicious” foreign exchange intervention might be called for in certain cases, such as when disorderly market conditions or rapid exchange rate movements threaten financial or corporate stability.
Source: Financial Express
Sircilla:With the managements making mockery of wage settlement for the last two years, nearly 30,000 powerlooms that produce polyester cloth in Sircilla fell silent with the workers resorting to an indefinite strike from Monday. Since there was no change in the attitude of the powerloom owners, who have been denying the workers their due by not implementing the wage settlement, this has been on the cards for some time now. Although the powerloom owners agreed to pay 0.20 paise per 10 pieces of fabric to workers in 2015 in the presence of IT Minister KT Rama Rao, who also holds the portfolio of handlooms and textiles, till date the wage settlement remained elusive for the workers. It may be noted here that the revision of wage settlement that occurs every alternative year is due again this year.
HIGHLIGHTS:
• The wage settlement to pay 0.20 paise per 10 pieces of fabric to workers made in 2015 in the presence of IT Minister KT Rama Rao, is yet to be implemented
• The revision of wage settlement that occurs every alternative year is due again this year
• To earn 350 a day, each worker has to run more than 10 powerlooms and work for over 12 hours in the unit
Speaking to The Hans India, the CPI (M) Sircilla district secretary Pantham Ravi said: “Though we have reminded the owners of their promise, there was no response from them. Chief Minister K Chandrashekar Rao also told the powerloom owners to provide a wage of at least Rs 15,000 a month, but the latter didn’t respond.” Benefits never percolate to workers, who lie last in the three-tier system of cloth production, he said. It may be noted here that the powerloom industry in Sircilla is based on master weavers, who supply the raw material, then the asamis (local powerloom owners), who will do the job work, and the workers. Nakka Devadas, a powerloom worker said that asamis were not giving the payment as per the agreement citing that they were not paid by the master weavers. To earn Rs 350 a day, each worker has to run more than 10 powerlooms and work for over 12 hours in the unit. As per the norms, a worker cannot run more than eight looms. “Workers are getting payment as per the agreement in the units, where master weaver and asami is same,” Mandala Satyam, who himself a master weaver cum asami said, stating that it was difficult for them to pay other benefits to workers as the industry is not all that well. Meanwhile, the District Collector, Krishna Bhaskar, who held a meeting with the master weavers and asamis on Monday, directed them to ensure the payment to workers as per the wage settlement. He instructed the Labour Department officials to book cases against those who refuse to abide by the law.
Source: The Hans India
Though industrialists listened to the Union minister attentively, they seemed upset. An industrialist said on the condition of anonymity that it was a programme for industrialists and they were happy that the minister would listen to their problems. He claimed that the programme was hijacked by the ministry two days ago. He said it was embarrassing that industrialists were not allowed to speak about their problems and the minister focused her speech on branding of ‘Textile India 2017’. Union Textiles Minister Smriti Irani goes round a textile exhibition in Panipat on Monday. Tribune photo Panipat, May 8 : Union Textiles Minister Smriti Zubin Irani has announced that a facilitation centre meeting international standards will be established in Panipat. Facilities like international laboratory and designing studio will be available and the centre will play an important role in improving the lot of industrialists and weavers, she said here today. Irani was addressing textile exporters and handloom industrialists and weavers. She was the chief guest at ‘Roadshow on Textile India 2017’. A big exhibition hall would be set up for the handloom industry, she said. Industrialists would be able to exhibit their products at the hall so that buyers from across the country and abroad could see the products under one roof, she added. The Union minister asserted that the textile industry was the only industry to record a growth of between 18 per cent and 20 per cent in the last five years. She said the handloom industry had reached the Rs 37,000 crore level at the domestic and export levels, which was a positive sign. To increase productivity, there was a need to strengthen basic amenities and infrastructure of the handloom industry, she added. She invited industrialists to the ‘Textile India 2017’ summit to be held in Gandhinagar in Gujarat from June 30 to July 2. The Union minister told the gathering that it would be the first time that the Centre would organise an international textile summit in Gandhinagar. More than 2,500 buyers from abroad and around 20,000 buyers from the domestic market were expected, she said. Prime Minister Narendra Modi would inaugurate the summit on June 30, she said. Around 33 round table conferences would be organised during the three-day summit, she added. She urged exporters and other industrialists to participate in the summit in large numbers and make their products visible globally. She asked state’s Transport Minister Krishan Lal Panwar and Member of Parliament Ashwani Chopra to talk to Chief Minister Manohar Lal Khattar for solving the problems of industrialists. Chopra assured the Union minister about large-scale participation of Panipat industrialists in the three-day Gandhinagar summit.
Source: The Tribune
NAGPUR: Delegates from the Ethiopian government and textile industry visited Government PolytechnicNagpur (GPN) last week, as part of their study tour in India to learn about cotton growing methods and development in cotton textiles. Deepak Kulkarni, GPN's head of Textiles Manufacturing Department, said "It was an industry-institute interaction meet on cotton growth and development in Vidarbha region. The delegation from Ethiopia included eight top officials from Ethiopian Industry Input Development Enterprise, Ethiopian Textile Industry Development Institute, Cotton Producers, Ginners and Exporters Association Ethiopia, Ministry of Agriculture and Natural resources and Ministry of Industry." The objective of organizing the meet was to bring experts in the field of cotton growth and development on one platform. Vidarbha region, which comprises 11 districts in eastern Maharashtra, is the largest cotton producer in state. Kulkarni said, "Vidarbha region could be the next emerging zone for textile operations. We have a strong agriculture base and has attracted number of diverse industries ranging from food processing, textiles, power engineering, logistics etc. The cotton growth and development has seen a significant progress in last few years in the region." Shrikant Gadge, a local textile consultant who was present at the seminar said that Vidarbha contributes up to 30% of cotton crop in India. "Maharashtra has sanctioned Rs 2000 crore recently for the region for Farm-to-Fashion drive project. The state has also attracted huge investment in the textile sector during last 4-5 years. Cotton related small and medium scale industries would be promoted in the region," said Gadge.
Source: The Times of India
Jaipur: While courses of fashion designing have always been in vogue, fashion styling is the new subject that's trending among students. Many confuse 'fashion styling and image designing' with 'fashion designing'. But these are two terms with different meanings, but one that belongs to the same world of 'fashion'. In fashion designing, students learn to design garments using different fabrics, keeping in mind the current trend, colours, style. But a fashion stylist adds value to the garment. He or she makes it more appealing and presentable to the consumer. "Fashion stylists take up make-up, photography, jewellery, shoes and other workshops to support their work. It's the job of a fashion stylist to select the garment for the subject and decide on make-up and hairstyle. The role of the stylist also includes set design, shoot locations, shoot planning, model casting and visual merchandising for various shoots," says Neha Dhiman, a designer. "Fashion styling and image designing have gained popularity because of the opportunities they provide. People can become make-up artists, fashion photographers, brand stylist or stylist for fashion shows and image consultants of celebrities. On a personal level, people can start with fashion blogs and then can move towards professional commitments," she said. When asked about pay packages and salary, she said the fashion industry was growing and there was a huge demand for make-up artists, fashion stylists. Many major brands hire fashion stylists to market their merchandise and to design their models for different shows. Some of the big names in the fashion industry as fashion stylists are Rhea Kapoor, Tanya Ghavri, Ami Patel and Anaita Shroff Adajania. For students, four-year undergraduate and two-year post-graduate courses on the subject are available. The National Institute of Fashion Design (NIFT) provides a diploma course in fashion styling and image design for six months in Mumbai and Delhi.
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$ 48.14 per barrel (bbl) on 08.05.2017. This was higher than the price of US$ 47.85 per bbl on previous publishing day of 05.05.2017. In rupee terms, the price of Indian Basket increased to Rs. 3091.17 per bbl on 08.05.2017 as compared to Rs. 3077.27 per bbl on 05.05.2017. Rupee closed stronger at Rs. 64.22 per US$ on 08.05.2017 as compared to Rs. 64.31 per US$ on 05.05.2017. The table below gives details in this regard:
|
Particulars |
Unit |
Price on May 08, 2017 (Previous trading day i.e. 05.05.2017) |
Pricing Fortnight for 01.05.2017 (April 12, 2017 to April 26, 2017) |
|
Crude Oil (Indian Basket) |
($/bbl) |
48.14 (47.85) |
52.36 |
|
(Rs/bbl) |
3091.17 (3077.27) |
3374.60 |
|
|
Exchange Rate |
(Rs/$) |
64.22 (64.31) |
64.45 |
Source : PIB
If a business happens to buy raw material from another which is not GST-compliant and loses input tax credit, would the government compensate the former for the latter’s fault? Area-based tax sops can’t be abruptly terminated for reasons of propriety and law but how will the Centre and states share the burden of retaining these for the residual periods given that GST will transform their relative rights to tax revenue? How will the states that have used VAT waivers to spur business activities within their geographies adjust to GST which is more gainful for consuming states? When the first question was raised by an industry participant at a GST outreach programme organised by the central excise department along with the Okhla Industrial Association last week, the answer was spontaneous laughter. What it indicated is the government’s limitations in addressing businesses’ pain under the GST regime. Businesses will have to take care of themselves and unless they aren’t well prepared for the transition, troubles could come their way. At the outset, an assistant commissioner of the department emphasised at the Okhla meet that businesses should not be in any doubt that GST implementation could be pushed back to September or even next year. “This would prove to be a fatal mistake,” he added. The session was anchored by a PowerPoint presentation on GST, interspersed by patient explanation by Sanjiv Srivastava, commissioner of central excise. The long, 150-minute presentation contained the background on GST, and the journey thus far. However, the over-50-strong delegation from industry erupted with a volley of questions as soon as the presentation ended, reflecting industry’s continuing apprehensions over several aspects of the design and implementation of the new indirect tax. The first couple of questions revolved around the promised continuation of area-based exemptions provided by certain states like Uttarakhand and Himachal Pradesh for industries set up there. Who will bear the cost of retaining the excise and VAT exemptions, as both these taxes are to be subsumed in GST? Srivastava said since GST militates against exemptions, if a state wants to retain VAT concessions to make itself attractive for investment, it will have to work out a system of subsidies through reimbursements, rather than upfront tax waiver. The GST Council had earlier decided that for units set up on the promise of excise/VAT sops being available for fixed periods, these sops will be continued for the residual period. This means that for late entrants (those who joined in 2009/10) the sops will be available till 2020/2021. Since states are going to have an equal share of the tax on manufacturing in the GST regime, in addition to what they get from the Centre right now under the Finance Commission formula, the Centre feels that it unfair on their part to expect it to bear the burden of retaining area-based excise sops for hilly states. The revenue forgone on these excise sops is to the tune of Rs 20,000 crore a year. Most likely a system will be worked out by the GST Council shifting the burden of these sops to the respective states, sources indicated. However, when pressed, Srivastava said the government was “working on a process for states that will be compatible with GST”. At the Okhla conference, industry executives asked whether there wasn’t a case for the government to compensate businesses for non-compliance by suppliers as it would anyway get at them and make them pay the taxes with interest and penalty. The excise department officials, however, remained non-committal. “Under GST, the businesses will also require to change their strategy to be successful. The strategy would include choosing suppliers with a high compliance rating,” Srivastava said. He added that the GST Network was working on an algorithm to assign compliance ratings to businesses registered on the portal. Despite soaring temperatures and barely functioning air-conditioning in the conference hall, the gathering asked questions on a wide range of topics that also included concerns over the e-way bill and availing credit on the closing stock, among others. By and large, the local businesses didn’t seem overly concerned about the impending law, though. “We have seen the pain and chaos that any transition brings… We have the experience of VAT. There is no doubt that similar teething problems will have to be dealt with in the initial days of GST, but it’s also a fact that GST is a more efficient taxation system that will ultimately benefit the industry, the consumers and the economy as a whole,” said Sandeep Verma, a member of the Okhla Industrial Association.
Source: Financial Express
BATHINDA: With cotton sowing season in full swing in south-western Punjab, to get over the labour pangs mechanized sowing on a small scale is underway in Muktsar district for the first time.Cotton has been sown on 600 acres in Muktsar through a pneumatic planter. The target is to sow the crop on 70,000 hectares of the total 1.75 lakh acres in Muktsar. The pickings on these 600 acres will also be done mechanically. Similar exercise has been undertaken on nearly 600 acres in Fazilka and 300 acres in Bathinda. Though in 2015 sowing was undertaken through mechanisation in Muktsar, that year the crop was damaged due to whitefly and pickings could not be undertaken through mechanical means.Following this, mechanical sowing was not undertaken in 2016. "The farmers will get more yield from cotton Under the mechanical sowing, the farmers will pay for two packets of seeds and the government will provide five packets of 450 gm each. crop sown through pneumatic planter and will overcome the big problem of labour as the machines will also pick the cotton after it matures. Earlier, only sowing was being done through machines but now the new concept of mechanical picking is being done for the first time," said Muktsar chief agriculture officer Beant Singh. "Cotton sown through pneumatic planter does not get damaged despite rains lashing the area and farmer will get 20 to 30 percent more yield.The machines are capable of picking cotton on one acre in almost one and half hours and farmer will have to shell only Rs 400 per acre whereas through manual picking the farmer has to shell out more than Rs 3,000 per acre for picking. Moreover, the new concept will make cotton growers overcome the acute labour shortage," said Singh. An agriculture officer said that by using seven packets of seeds the farmer will get nearly 30,000 plants on one acre, that too very thick. This will save the crop from any disease and due to its thickness farmers will need less water.The height of the plants will not be allowed to grow more than 4 feet and to ensure it four sprays of medicines will be done, which will be provided by the company.
Source: The Times of India
A Parliamentary panel slammed the Commerce and Textile ministries for their lethargic approach in the implementation of trade facilitation measures for imports and exports. In a report published by Indian Express, the panel also highlighted some specific lapses and the lack of last-mile connectivity that has harmed country’s trade facilitation efforts. Drafted by a sub-committee headed by the Bharatiya Janata Party (BJP) leader Nishikant Dubey, the Public Accounts Committee (PAC) report has also warned of taking stringent action against officials who have failed to deliver on their deadlines. “The Committee (is) dismayed to note the lackadaisical approach of Department of Commerce and Ministry of Textiles in initiating/implementing trade facilitation measures. The committee desire(s) the Cabinet Secretary to convene meetings of the various ministries/departments regularly besides the meetings of the NCTF (National Committee on Trade Facilitation) to monitor their progress and contribution,” said the report. “The Committee (is) dismayed to note that lack of infrastructure facilities like port to road connectivity, rail infrastructure to move containers to inland containers depots (ICD) and non-coordination among all the stakeholders for improving the infrastructure are adversely affecting the trade facilitation measures initiated by the government,” it added further. A detailed report on the performance of import and export trade facilitation through the Customs ports was submitted to Lok Sabha Speaker Sumitra Mahajan on April 29. Examined by Comptroller and Auditor General (CAG), the report also stated that it was important to maintain a smooth movement and clearances of goods across borders at the earliest possible with minimum cost. However, the PAC panel has recommended appointment of a regulator in order to ensure smooth operations of all shipping lines and it also recommended that a regulator should be appointed to control operations of all shipping lines, and observed that railway freight charges should not be increased to subsidise other segments.
Source: Fibre2fashion
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1066.67 |
USD/Ton |
-1.68% |
5/7/2017 |
|
VSF |
2227.99 |
USD/Ton |
-2.11% |
5/7/2017 |
|
ASF |
2300.80 |
USD/Ton |
0% |
5/7/2017 |
|
Polyester POY |
1074.68 |
USD/Ton |
-2.57% |
5/7/2017 |
|
Nylon FDY |
2504.66 |
USD/Ton |
0% |
5/7/2017 |
|
40D Spandex |
5387.94 |
USD/Ton |
0% |
5/7/2017 |
|
Polyester DTY |
1303.30 |
USD/Ton |
-2.72% |
5/7/2017 |
|
Nylon POY |
2766.78 |
USD/Ton |
-1.55% |
5/7/2017 |
|
Acrylic Top 3D |
5839.36 |
USD/Ton |
0% |
5/7/2017 |
|
Polyester FDY |
1339.70 |
USD/Ton |
-2.13% |
5/7/2017 |
|
Nylon DTY |
2373.61 |
USD/Ton |
-0.61% |
5/7/2017 |
|
Viscose Long Filament |
2475.54 |
USD/Ton |
0% |
5/7/2017 |
|
30S Spun Rayon Yarn |
2883.28 |
USD/Ton |
-0.50% |
5/7/2017 |
|
32S Polyester Yarn |
1681.91 |
USD/Ton |
-0.43% |
5/7/2017 |
|
45S T/C Yarn |
2693.97 |
USD/Ton |
0% |
5/7/2017 |
|
40S Rayon Yarn |
1820.25 |
USD/Ton |
-1.57% |
5/7/2017 |
|
T/R Yarn 65/35 32S |
2257.11 |
USD/Ton |
0% |
5/7/2017 |
|
45S Polyester Yarn |
3043.46 |
USD/Ton |
0% |
5/7/2017 |
|
T/C Yarn 65/35 32S |
2359.04 |
USD/Ton |
0% |
5/7/2017 |
|
10S Denim Fabric |
1.36 |
USD/Meter |
-0.11% |
5/7/2017 |
|
32S Twill Fabric |
0.85 |
USD/Meter |
0% |
5/7/2017 |
|
40S Combed Poplin |
1.18 |
USD/Meter |
-0.25% |
5/7/2017 |
|
30S Rayon Fabric |
0.66 |
USD/Meter |
0% |
5/7/2017 |
|
45S T/C Fabric |
0.67 |
USD/Meter |
0% |
5/7/2017 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.14562 USD dtd. 09/05/2017) the prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Seeking to allay India's concerns, China has offered to rename the China-Pakistan Economic Corridor (CPEC) which passes through PoK, insisting it was an economic cooperation and connectivity enhancement project devoid of "sovereignty issues". It also strongly pushed for New Delhi's participation in the 'One Belt One Road' project.Chinese ambassador to New Delhi Luo Zhaohui, while referring to frosty Indo-Pakistan ties, said China was willing to mediate to resolve the differences between the two countries if it was acceptable to both sides. Referring to the CPEC, which is part of OBOR, he said China has no intention to get involved in the sovereignty and territorial disputes between India and Pakistan and that the project is for promoting economic cooperation and connectivity in the region. It has no connections to or impact on sovereignty issues. Even we can think about renaming the CPEC. China and India have had successful experience of delinking sovereignty disputes from bilateral relations before," he said in closed-door address to a think-tank on Friday. India has been severely critical of the CPEC, saying the project violates its sovereignty as it runs through Pakistan-occupied Kashmir. Luo said China is sincere in its intention to cooperate with India on the OBOR as it is "good for both of us." Maintaining that China and India could be natural partners in connectivity and the OBOR, the Chinese ambassador said Indian economy was behind China by at least 13 years, suggesting New Delhi should grab economic opportunities offered by Beijing. "Now the GDP of India is roughly that of China in 2004, some 13 years ago. China leads India by 13 years mainly because we started reform and opening up 13 years earlier," he said. Referring to the view in India that China always puts Pakistan first when handling its relations with South Asian countries, he said the government always follows "China first" policy and that problems are dealt on merit. "I want to tell you this is not true. Simply put, we always put China first and we deal with problems based on their own merits. Take Kashmir issue for example, we supported the relevant UN resolutions before 1990s. Then we supported a settlement through bilateral negotiation in line with the Simla Agreement. This is an example of China taking care of India's concern," he said. On India's bid for the membership of the Nuclear Suppliers Group (NSG), he said, "We do not oppose any country's membership, believing that a standard for admission should be agreed upon first." The envoy also proposed a four-point initiative to improve ties between India and China which includes aligning its 'OBOR' project with India's 'Act East Policy', and restarting negotiations on a free trade pact. The proposal put forward by Luo includes starting negotiations on a 'China-India Treaty of Good Neighbourliness and Friendly Cooperation' and prioritising finding an early solution to the border dispute between the two countries. "Firstly, start negotiation on a China-India Treaty of Good Neighbourliness and Friendly Cooperation. Secondly, restart negotiation of China-India Free Trade Agreement. Thirdly, strive for an early harvest on the border issue. Fourthly, actively explore the feasibility of aligning China's 'One Belt One Road Initiative' (OBOR) and India's 'Act East Policy'," he said. He said good ties between India and China were conducive to regional stability. The development of China, India, Pakistan and the stability of the whole region call for a stable and friendly environment, he said. "Otherwise, how could we open up and develop? That's why we say we are willing to mediate when India and Pakistan have problems. But the precondition is that both India and Pakistan accept it. We do this only out of goodwill. We do hope that there is no problem at all," Luo said. "When the Mumbai terrorist Attack on November 26, 2008, took place, I was Chinese Ambassador to Pakistan, and I did a lot of mediation at that time," he said. On trade ties between the two countries, Luo said he was happy to see that China had contributed its share to India's development. "Today, China is the second largest economy in the world, with a GDP of 11 trillion US dollars. China's development also benefited from India's participation," he said.
Source: Economic Times
With recent reports that Amazon is preparing to make a major play in custom clothing — as well as apparel in general — clothing chains are panicking. To be fair, when many physical chain executives hear the word "Amazon," panic seems to be the default response. The good news is that panic is not needed, because there are some fine defense options. The bad news is that those options are painful, and I'm not at all certain apparel chains are scared enough to actually take meaningful actions. This column has repeatedly argued that the best way physical chains can fight Amazon is to do what Amazon can't: Deliver a wonderful physical experience. Use that which is unique to the physical experience and deliver a show that no virtual retailer can. First stop: the dressing/changing room. Dressing rooms have become retail's answer to the ever-shrinking airplane seat. Both are small, cramped and generally unpleasant. This is even more true when multiple women try to occupy one. (Please forgive my sexist reference, but this is simply a phenomenon that I have never seen involving males of the species. As a fun activity, clothes shopping, especially for shoes, seem to have strongly sided with one gender.) Technology has helped make that cubbyhole space more effective and efficient — with the RFID-fueled ability to request more clothing to be brought in with a click, sometimes integrated into a magic mirror — but not more pleasant. The reason airline seats and dressing rooms are so cramped is economic, but — and this is key — it was predicated on an assumption of a practical monopoly. In other words, as long as airlines knew that all of their rivals were shrinking seats to a similar degree, customers wouldn't have a choice but to accept it. Where else could they go? That was why apparel retailers could get away with such small and unpleasant dressing rooms. As long as all apparel retailers pulled the same stunt, shoppers would have no choice. But Amazon — and for that matter, other apparel sites — gives them a choice. It gives them a next-day (and sometimes same-day) choice, with free return shipping. My suggestion: Take a temporary financial hit, knock down some walls and give shoppers larger and more comfortable dressing rooms. Put couches in, as well as plenty of table space to lay out clothing choices. Give enough room for three people in each room. Throw in an ice bucket with some soft drinks, a pitcher of ice water and some glasses. Maybe even some pretzels and carrot stalks. Then advertise to the world what you've done. Next: If you're in a mall, organize your retail neighbors and knock down different kinds of barriers. I've argued before about making malls destinations again. Have all stores share inventory data and have it all available in mall kiosks as well as in all individual participating stores. When someone selects five apparel items, recommend some scarves, hats and shoes — each available in neighboring stores — that would look great for the blouses you're selling. Yes, sometimes you'll lose a sale to a rival, but other times, they'll lose sales to you. The bottom line is that both events will deliver better experiences to your shoppers. Part of Amazon's allure is that its inventory approaches endless. Although physical stores — even integrated physical stores — can't match that, leveraging the inventory of 100 neighbor stores in a mall gets you a lot closer. Amazon can't match a physical store experience, especially one that is comfortable and fun. Shoppers still want to feel fabrics and experience the immediate fit of an outfit. Physical clothing stores still have the advantage. But Amazon's offer of better inventory, convenience and pricing requires a meaningful counter offer.
Source: Computer World
Huge, vertically-integrated capacities for the production of fabrics and garments have been built up on the Indian subcontinent over the past decade, and in respect of denim, especially around Pakistan’s largest city, Karachi. Companies based in Karachi include Artistic Milliners, which now has the ability to produce some 66 million metres of fabrics and over 21 million finished garments a year. Denim Clothing Company, which only commenced operations in 2005, has quickly risen to become a trusted supplier to leading brands with a capacity of 18 million garments annually, while Soorty’s finished denim fabric capacity alone is 66 million square metres. Then there is Artistic Fabric & Garment Industries (AFGI), which in recent years has expanded its capacity to 50 million metres of fabric and 25 million garments per year, Kassim, which makes a further 30 million metres of denim per year, and Denim International, which is currently expanding capacity to around 10 million denim garments annually. The region around Pakistan’s Lahore is just as dense with major denim manufactures, including Azgard-9, Naveena and US Denim, and all of these companies are huge employers. Soorty, for example, employs some 22,000 people across its textile and garment operations.
Exports
The European Union is Pakistan’s most important trading partner and textiles and clothing accounted for 82% of its total exports to the EU in 2016. From January 2014, Pakistan has benefited from generous tariff preferences – mostly zero duties – under the EU’s GSP+ arrangement, which aims to support the country’s sustainable development and good governance. In order to maintain GSP+, Pakistan has to effectively implement 27 core international conventions on human and labour rights, environmental protection and good governance. This makes exhibitions like Denim Première Vision, which took place in Paris from April 26-27, extremely important to all of the companies mentioned. The problem is how to stand out from the rest. All work closely with leading European designers and fibre manufacturers and are equipped with the latest equipment and flexibility to ensure that once any new trend emerges, they can jump on it extremely rapidly. Every conceivable variation of stretch denim, for example, has been incorporated into their ranges, and the same goes for athleisure, vintage and distressed looks. Branding and marketing is extremely sophisticated and sustainable credentials are almost uniform, taking in the use of Better Cotton Initiative cotton and recycled PET, extreme efficiency in water, chemicals and energy usage, and garment finishing with laser and ozone treatments. Both Artistic Milliners and Denim Clothing Company have in recent years also opened hubs in globally central Dubai, as an additional customer-centric service to the designers of the international brands, equipped with all of the latest technology for working closely and confidentially with them on unique, high-end collections.
Stories
Inevitably, however, it is the company with the most powerful new story which will make the most impression at an event like Denim Première Vision, and at this edition – for me anyway – it was Kassim who took the general theme of heritage meeting new technology that is currently prevalent to new extremes – in both directions. As far as tradition goes, the word ‘denim’ is generally acknowledged as having derived from Serge de Nîmes, a fabric originally made from wool and silk around the French village of Nîmes as far back as the 16th Century. It was a cotton variant of this fabric structure that Levi Strauss would some time later have tailored into trousers with rivets attached – making history in the process. Now, in a collaboration with high-end brand Ateliers De Nîmes, Kassim has woven the first denim fabric for over a century in the French village where it all started, for the Made in Nîmes collection. The weavers of Nîmes back in the 16th Century, however, would have had little inkling of what uses the successors to their fabrics could be put 500 years later. Following the success of athleisure – the tailoring of denim for activewear – Kassim has also teamed up with the young Belgian company Bainisha to introduce the concept of sensor-containing, body-monitoring Smart Jeans. “The health of a lot of people, especially the elderly, can be improved by accurately capturing motion and analyzing posture and gait on a medical data level – outside of the lab during day-to-day life,” explained Bainisha’s co-owner Kaat van de Vyver. “We are using our partnership with Kassim jeans as a way of telling our story.”
Made inMorocco
Meanwhile, a special exhibition of jeans conceived by legendary designer François Girbaud under the theme ‘Cleaning the Planet’, and exclusively manufactured in Morocco, underlined the North African country’s current ambitions for the growth of its industry. The Moroccan Investment Development Agency, Invest in Morocco, was a first time exhibitor at Denim Premiere Vision and Hicham Boudraa, its CEO, said that with a population of 34 million people, the country has achieved GDP growth of 4.5% over the past five years and is a very attractive location for overseas investors. “There are no restrictions on capital investments by non-residents, who can enjoy free repatriation of profits,” he said. “Current initiatives underway, as part of Morocco’s industrial strategy to create 500,000 new jobs by 2020, include Africa’s first high speed train line and we also have the largest ports in Africa on two coastlines. On top of this are 16 airports and a number of specialised industrial zones and there are currently 54 separate free trade agreements in place.” Morocco’s textile industry achieved $3 billion in export revenues in 2016. It is comprised of some 1,600 companies employing 175,000 people and its sales represent 15% of GDP. The denim industry alone achieved exports worth $600 million in 2016, which are going mainly to France and Spain. Through the formation of a specialised Denim Cluster, Morocco now aims to integrate all components of the industry to create a sustainable denim manufacturing infrastructure and an additional $1 billion in sales. To support this, its government is making generous subsidies to companies investing in sustainable technologies through its Ecosystem Denim programme. The aim is to directly connect environmental standards with expansion into international markets. Tavex, headquartered in Madrid, Spain, already has a major denim manufacturing operation in Morocco and has now equipped it with photovoltaic and solar energy generating systems, as well as an extensive wastewater treatment system, as a result of the programme. Morocco may be located just nine miles from Europe, but differentiation is still going to be the key to good growth, and in denim, that’s an extremely tough call.
Source: Innovation in Textiles
LONDON--(BUSINESS WIRE)----- The textile and apparel industry in Indonesia is one of the top economic contributors and largest employment sources in the country. This labour intensive and export oriented industry has helped Indonesia make its way to the world’s top ten largest textile and garment producing countries. Today, Indonesia’s textile and apparel industry is still achieving new milestones. Details about the growth for both Indonesia’s textile exports and textile sales are some of this week’s top stories on BizVibe. BizVibe is the world’s smartest B2B marketplace and allows users to discover high quality leads, contact prospects, and source quotes. Register today to connect with over seven million companies around the globe. Indonesia’s Textile Exports Reach New High in the First Two Months of 2017 Recent figures show that Indonesia’s exports of textile and textile products were valued at USD 2 billion in the first two months of 2017, representing a 3% increase from the same period last year. Statistics also show that the textile and apparel industry in Indonesia is currently employing over 3 million people, accounting for over 17% of employment in the manufacturing sector. The investment in the country’s textile and apparel industry was worth USD 563 million with exports valued at USD 11.87 billion. Indonesia’s textile and apparel industry is expected to be more competitive in the global market, especially as the industry has been integrated from upstream to downstream sectors. However, the industry still needs some revitalization as the majority of factories now use old machines especially weaving and knitting factories. These machines need to be replaced as they are no longer efficient. Indonesia’s Textile Sales Are Booming Thanks to E-commerce Indonesia’s textile and apparel market is currently witnessing a strong growth of sales through E-commerce. With an increasing amount of textile companies adopting this newly technology based system, Indonesia’s textiles sales are likely to rise 10% in 2017, compared to only 2.2% growth last year. The E-commerce market in Indonesia is projected to reach USD 130 billion by 2020, making this archipelago nation the third largest E-commence market in Asia by then, behind China and India. With the number of middle class and internet users on the rise, combined with improving infrastructure, E-commerce sales in Indonesia is expected to further expend in the coming years. Indonesian Specialty Products in High Demand Specialty products such as Indonesian batik cloth and other traditional or cultural Indonesian fabrics are currently high demand which is contributing to the country’s surge in textiles exports. Indonesia’s top export partners for clothing and textiles are the United States, Japan, Turkey, China, and Germany. According to the Indonesian Textile Association, Indonesia is expected to export USD 4.8 billion worth of textiles and apparel to the US in 2017, accounting for 39% of Indonesia’s total textile and apparel exports. However, Textile manufacturers—especially those in the Central Java region—are reportedly also eyeing more Middle Eastern countries as new textile exports destinations as demand for Indonesian textiles from the region increases. In addition to companies in Indonesia, BizVibe is home to a total of over 100,000 textiles companies. The BizVibe platform allows you to discover the highest quality leads and make meaningful connections with your companies of interest in real time. Claim your company profile for free and let BizVibe connect you with potential business partners.
About BizVibe
BizVibe is home to over seven million company profiles across 700+ industries. The single-minded focus of BizVibe’s platform is to make networking easier. Over the years, we've searched far and wide to figure out how businesses connect and enable trade. That first interaction is usually fraught with the uncertainty of finding a potential partner vs. a potential nightmare. With this in mind, we've designed a robust set of tools to help companies generate leads, shortlist prospects, network with businesses from around the world and trade seamlessly.
Source: Bussiness Wire
We write about finding entrepreneurial solutions to the world’s problems. Opinions expressed by Forbes Contributors are their own. The true cost of cheap clothing is no longer breaking news—especially with so many stories of rampant worker exploitation, increasing textile waste in landfills and natural resource depletion leading the headlines. Although we may spend a few dollars less on those cool jeans and tees, we actually pay high human and environmental costs for our clothes. Still, fashion remains central to the way we shape ourselves in the world. It is a nearly US$3 trillion industry, employing 57 million people worldwide. Bringing change to its lucrative value chain is not a task for the faint-hearted. An unlikely network of social entrepreneurs, designers, fashionistas and “woke” brands is bravely standing up and calling for a whole new system, one that re-imagines the path from design sketch to a consumer’s closet as a closed loop—only taking what it gives back.
How does this work?
Rather than using old growth or endangered forests, as around 30 percent of viscose and rayon does, fibers in this closed-loop system, for instance, come from only reused materials. And after being used, those recycled fibers are used again, and again, until finally turning into biodegradable waste and dissolving back into nature. Widespread adoption of this kind of a more ethical and sustainable system will only come, though, if more businesses and consumers understand the devastating end-to-end impact of fashion’s often messy and reckless production cycle.
Changemaking by Design
After half a lifetime in the apparel industry, former fabric specialist turned social entrepreneur Stacy Flynn wanted to find a way that new could be made from old, where waste could be “designed out” of the manufacturing process. Her moment of clarity came in 2010 after visiting a clothing recycling enterprise in China that operated under a “cloud of pollution.” She saw that children in the area couldn’t enjoy nature, in part because of the impact of the company’s textile waste and pollution. Flynn connected the dots and realized she was contributing directly to this dirty legacy by thoughtlessly pursuing a high-flying career in an industry obsessed with consumption. “I began circling around one question,” she says. “Is there a way to break down this waste and turn it into a new fiber, which [could be] a lynchpin in the entire system?”
There was.
Flynn’s social enterprise, Evrnu, now makes fiber from cotton garment waste, a fiber she describes as finer than silk but stronger than cotton, and that uses 98 percent less water and 90 percent less carbon emissions than cotton and polyester respectively. “This is a game changer,” she said. “It takes what we perceive as waste and turns it into a modern-day resource.”
Source: Forbes
Africa Sourcing & Fashion Week (ASFW), taking place at Millennium Hall in Ethiopia's capital Addis Abeba from 3 to 6 October 2017, will focus on sustainability and its central theme “Sustainability in Clothing”. Given that currently, clothing and textiles represent about seven percent of world exports - a percentage that is likely to rise - the trade fair puts particular emphasis on production, the environment and certifications. A fashion show, trend area and matchmaking platform for finding business contacts are just some of the other programme highlights. From this year onward, Messe Frankfurt's three trade fair brands Texworld, Apparel Sourcing and Texprocess have been integrated into ASFW after Messe Frankfurt reached an agreementwith the fair's organiser Trade and Fairs East Africa last year. More than 250 international exhibitors from 25 countries worldwide are expected to participate. Because the origins of fashion and sustainable production are becoming particularly relevant to more and more fashion buyers, ASFW is anticipating an increasing interest in eco fashion and will present new approaches in this regard. Fast fashion giant H&M, GIZ (Society for International Cooperation) Ethiopia as well as circular economy and resource efficiency experts of WRAP and development agency Solidaridad will present sustainable solutions. In addition, international manufacturers of textile machines will showcase new technologies for the African market. This includes the Italian textile machine association ACIMIT, which will be represented with a range of product innovations. Visiors also look forward to the annual fashion show with African creations as well as the designer conference where experts will give presentations on “International fashion – designed in Africa”. In terms of trends, trend forecasting and analytics company WSGN will present future trends in women's, men's and children's clothing while “Trend House” showcases international trends made in Africa. The ASFW will take place for the seventh time in Addis Ababa, Ethiopia in 2017. It serves as a meeting point for garment manufacturers and the east African textile industry, focusing on apparel fabrics, leather, fashion and fashion accessories to home and contract textiles, technical textiles and the processing and care of textiles. Machine manufacturers for garment production, CAD/CAM systems, printers, inks and accessories also have a strong presence.
Source: Fashion United
The textile industry has urged the government to continue the sales tax zero-rating facility to five export-oriented sectors in the upcoming federal budget 2017-18, besides speeding up the disbursement of drawbacks under the PM export package. The major textile bodies including All Pakistan Textile Mills Association and Pakistan Hosiery Manufacturers Association have said that any move to withdraw zero rating regime for the five exporting sectors would tantamount to devastating impact on the growth of textile industry in Pakistan. PHMA Chairman Adil Butt criticised the Federal Board of Revenue’s (FBR) proposal to withdraw zero-rated tax regime granted last year after a long debate and hectic efforts of the exporting industry. “FBR wants to end the facility just to make its balance sheet correct. The balance sheet might show enhanced revenue collection but the industry would be collapsed if the ‘no tax no refund’ system is withdrawn, which is already not being implemented properly,” he lamented. APTMA Chairman Aamir Fayyaz has also urged the government to continue with zero-rating regime in next budget to revive industrial viability and encourage investment. He said Finance Minister Ishaq Dar had introduced this regime after threadbare discussion – especially, to help the five export-oriented sectors that had become uncompetitive in the region due to escalating cost of doing business. It was further analysed that it was beyond the exporter’s means to acquire taxable inputs and keep waiting for refund. In fact, it was agreed that the government would finally move to no tax-no refund arrangement for exporters. Fayyaz further said that such regime worked successfully when it was originally introduced in 2005 and went a long way in boosting exports in those years. The PHMA chairman said the National Assembly Standing Committee on Textile Industry had also supported the value-added textile sector’s demand for declaring all five export-oriented sectors as zero-rated. He observed that zero-rating of tax had reduced the work load of the Federal Board of Revenue, sparing the export sector from wasting time in getting refunds. This regime was allowed after proper diligence and comprehensive research. Adil urged the government that instead of ending zero-rated regime it should implement this system in true spirit in budget 2017-18 as billions of rupees of exporters are still stuck up in refund regime. He said that zero-rating facility was reinstated in order to save the exporters from liquidity crunch; however, the FBR wanted to sabotage the government's efforts of enhancing export. It has rolled back all sales tax refund payment orders (RPO) considering unnecessary objections, adding the miseries of exporters.
Source: The Nation PK
Organized by Globaltextiles.com, the 19th Purchase Meeting, which is a traditional supporting activity of China Keqiao International Textiles, Fabrics & Accessories Exhibiion, was held successfully on 7th May, 2017. About 100 buyers from home and abroad attend this meeting with demands of apparal fabric, home textiles, curtain fabric, fuction fabric and others. According to buyers requirements, Globaltextiles matched quality suppliers from the website members and local market for them, and most buyers find appropriate suppliers at this meeting. Global textiles has held purchase meeting 18 times in the last ten years and served for over 1200 buyers and 2600 suppliers from more than 90 countries. As a supporting activity of the Textile Expo, the purchase meeting has become a brand in the industry and is welcomed by both buyers and suppliers.
Source: Global Textiles
The International Labour Organization (ILO), the Brazilian Textile Retail Association (ABVTEX), the Brazilian Association of the Textile and Apparel Industry (Abit), the C&A Institute, the Lojas Renner Institute and Zara Brasil have joined hands for implementation of a new project to promote decent work in the textile and clothing sector in São Paulo. Under the title ‘Promoting improvements in working conditions and management in sewing workshops in São Paulo’, the project will work in three areas: to promote awareness of rights and the empowerment of vulnerable populations working in sewing workshops; to promote awareness (especially in micro, small and medium-sized enterprises) and strengthen the capacity of institutions at the federal, state and municipal levels; and to articulate and implement policies to improve working conditions in factories, with special attention to migrant workers. In recent years, Brazil has witnessed arrival of a growing number of migrants from other countries in Latin America and Africa. The new project aims at transforming the management structure of the textile and clothing production chain by highlighting the strategic importance of risk prevention that arise from the exploitation of the labour force of vulnerable populations, especially the migrant population, Abit said in a release. Brazilian textile and clothing industry is among the largest in the world, employing millions of people. And as in all industries, it is necessary to take specific actions to implement decent work agenda. Hence, the in addition to labour exploitation, the project would also address the lack of adequate health and safety conditions at work, the release added. “This new partnership between the ILO and Brazil’s textile industry and retail sector will help the country promote socially and economically sustainable productive chains, generating decent work for workers in the sector,” said Peter Poschen, director of the ILO Office in Brazil, during the signing ceremony in São Paulo. Abit’s president, Fernando Pimentel, pointed out that “Abit has been working in partnership with various national and international agencies and institutions to curb this practice of human exploitation in our production and distribution chain, which is intolerable for damages that cause the people subjected to this situation”. According to him, this is a complex framework, with a regional and international scope, requiring coordinated actions by public and private agents to eliminate the problem worldwide. “So we have stated that if the market is global, the modes of production must also be more and more globalised, with standards to be followed by all countries and producers. Unfair competition and the lack of common rules are incentives for an inconceivable mode of production for human dignity,” he added. Created in 1999, the Decent Work concept synthesises ILO’s historic mission of promoting opportunities for men and women to achieve productive and quality work in conditions of freedom, equity, security and human dignity.
Source: Fibre2fashion
