The Finance Ministry has imposed definitive anti-dumping duty on ‘Elastomeric Filament Yarn’ imports from China, South Korea, Taiwan and Vietnam. Such filament yarns are commonly referred to as Spandex or Elastane. The petition to levy anti-dumping duty on ‘elastomeric filament yarn’ from these four countries was filed by Indorama Industry Ltd. Based on the recommendations of the designated authority in the Commerce Ministry, the Revenue Department has imposed anti-dumping duty that ranged from ‘nil’ to $3.34 per kg depending on the producer and the country of export. Elastomeric filament yarns find applications in manufacturing of hosiery, swimsuits, aerobic or exercise wear, golf jackets, disposable diaper and waist bands.
Source: Business Line
Factory output, as measured by the index of industrial production (IIP), could see more buoyant growth of at least two percentage points under the new and updated series that will be launched on May 12. This is because the new series of IIP with a base year of 2011-12 will include an updated item basket that mirrors the actual consumption and supply patterns such as more processed foods – noodles – and SIM cards, chemicals, as well as electronic and computer products. “The current series has a base year of 2004-05 and it has completely missed out on the high growth phase. Further, many products that are now relevant are either missing or under-weight,” said Pronab Sen, Country Director for the IGC’s India Central Programme, and former Chairman of the National Statistical Commission. The issue was also raised by the working group for the development of the methodology of compilation of IIP, which was led by former Planning Commission member Saumitra Chaudhuri which had noted that “due to phasing out of items in the Item Basket, growth rates from IIP are lower”. Instead, while selecting the item basket in the new base year, special emphasis may be given to items that are growing in importance in the revised base year, compared to the previous years. The panel had recommended a new item basket for the IIP including 55 mining products, 809 manufacturing products that should be re-grouped into 521 item groups and treating electricity as a single product. However, analysts are uncertain on whether the new IIP series will reduce the volatility in the index and ease the divergence with manufacturing performance in the GDP data. “The current sample size of capital goods is very small and the methodology is such that it leads to a lot of volatility,” said DK Srivastava, Chief Policy Advisor, EY. The expert committee had suggested that the ‘value of operating work in progress’ should be collected to avoid spikes in reporting of these items and reduce volatility and use average values for missing data sets. The new IIP series, which has been pending for nearly three years, is being keenly awaited for by analysts and experts who have pointed to its huge difference with GDP estimates. “The existing IIP series being quite dated, it does not capture production in new facilities, either in traditional sectors or in more modern sectors. This is one of the reasons leading to the gap between the volume-based IIP based on the 2004-05 series and the manufacturing GVA data from the updated 2011-12 base,” noted Aditi Nayar, Principal Economist, ICRA. Industrial production as measured by the IIP grew by 0.4 per cent between April 2016 and February 2017. But in contrast, gross value added in the manufacturing sector is estimated to have risen by a buoyant 7.7 per cent.
Updated WPI series
On May 12, the government will also be launching an updated series of the wholesale price index (WPI) based inflation with a base year of 2011-12, but whether it would bridge the differences with retail inflation is not very clear. The new WPI series is also expected to have an updated item basket and weightage. “The new series will be directionally the same as the old series but inflation rates may change as commodity baskets will change,” said Sen. While WPI inflation is no longer targeted by the Reserve Bank of India for monetary policy, the series has come under question after the revision of the consumer price index in 2015. The new CPI series with a base year of 2012 and has 11 and 17 new items in the rural and urban consumption basket respectively. Hoping that the updated WPI index is more in line with the CPI index, NR Bhanumurthy, Professor at NIPFP said, “The IIP and WPI have created a lot of confusion on macro-economic data and are also very dated. We should have all macro indices at one base year.” With this exercise, all key macro economic data indices — national accounts, IIP, WPI and CPI will have a common base year of 2011-12, making comparisons easier and the data more relevant.
Source: Business Line
The process to enroll taxpayers on the Goods and Services Tax Network (GSTN) portal, which was suspended on April 30, will start again in a few weeks, the revenue department said on Tuesday. More than 60 lakh taxpayers enrolled on the GST portal between November 8, 2016 and April 30, 2017. The enrolment process closed with effect from May 1 and the data of all those signed the enrolment form would be migrated to the new system. The portal said enrollment window will reopen at a later date for taxpayers who could not enrol themselves as well as for those who enrolled but did not sign the enrolment form.
Source: Economic Times
Senior bureaucrats R K Mahajan and Mahender Singh have been appointed as members in the Central Board of Excise and Customs (CBEC). Mahajan is the director general of Central Excise Intelligence and Singh is the director general (audit). The Appointments Committee of the Cabinet has approved their appointment as members in CBEC, an order issued today by the Department of Personnel and Training stated. Both of them are Indian Revenue Service (Customs andCentral Excise) officers. CBEC, the apex policy-making body for indirect taxes, has only two members -- Ananya Ray and S Ramesh -- against the sanctioned strength of six. The board and its officials are key stakeholders in the implementation of the Goods and Services Tax, which is slated to be rolled out from July 1. With the appointment of Mahajan and Singh, only two posts are left to be filled up. Senior Indian Revenue Service (IRS) officer Vanaja N Sarna is the CBEC's chairperson.
Source: Times of India
Maharashtra became the first state to bring amendments in the draft GST bill to provide adequate compensation and protection to local bodies following enforcement of Goods and Services Tax from July 1,2017. The decision also means the state government will have to make financial provisions of more than Rs 15,000 crore for the local bodies. Following the draft GST bill, Shiv Sena gave its approval to the Goods and Services Tax, after the state government promised to credit the compensation amount in the BMC account before fifth of every month. This has paved the way for smooth passage of the GST bill in the state legislature at the three-day special session from May 20 to 22. The state cabinet on Tuesday adopted the draft legislation by incorporating the compensation clause to replace the financial loss that would be incurred by the BMC and local bodies due to abolition of octroi and local body tax respectively. Late Monday night, the state government had provided a copy of the draft GST bill to Sena president Uddhav Thackeray. The Sena president gave the nod after discussing the amendments with party leaders. Highly placed sources in the government said, “Chief Minister Devendra Fadnavis reassured Thackeray that every financial loss on account of octroi would be adequately compensated. As Mumbai was a very important economic capital, the government was equally concerned about the civic issues and responsibilities.” It is mandatory for every state to ratify the GST after Lok Sabha and Rajya Sabha gave their approval in the Budget session. The GST will be implemented from July 1. Following abolition of octroi in BMC and local body tax in municipal councils across Maharashtra, the state government made amendments in the draft GST to make allocation of funds as compensation to the BMC and other local bodies mandatory. The GST draft states, “The state government will every month before fifth credit the amount in the accounts of BMC and local bodies.” The total amount which the state will have to incur for local bodies is estimated at Rs 14,500 crore of which BMC will be provided Rs 7,200 crore as compensation for abolition of octroi. Every year, the amount will be increased by eight percent. The state government acknowledged that every local body and BMC would require consolidated funds for civic work in their respective cities. The implementation of GST mandating a unified tax regime makes their individual tax collections from purchase of sugarcane to entry tax on vehicles and octroi redundant. Leader of the Opposition Radhakrishna Vikhe-Patil said, “For the last one year, we have urged the centre and the state to make provisions to compensate for the abolition of LBT and octroi.”
Source: Indian Express
In the run up to three years of the National Democratic Alliance (NDA) government, Minister of State for Commerce and Industry (Independent Charge) Nirmala Sitharaman says it is time to consolidate some of the major initiatives as well as take new steps. She tells Subhayan Chakraborty and Indivjal Dhasmana in an interview that the government will find a way to incentivise sectors, even if the World Trade Organization norms force India to phase out export subsidies by 2018-end. Edited excerpts: Soon, this government will complete three years in office. Do you feel it’s time for consolidation of major initiatives taken so far or do you think new measures can be rolled out now? It has to be a blend of both. Consolidation is absolutely required because the major initiatives taken by Prime Minister Narendra Modi have shown steady results, at least in the commerce and industry ministry, and it is necessary to consolidate these. So it’s the best time for both consolidation and for new things. Say, for instance, Make in India was brought in as agriculture was laden with under-employment. Even in some states that were progressing well on agriculture employment, the situation was uneconomical. And, therefore, there was emphasis on making India a manufacturing hub. There was an emphasis on making India a better place for investment as well as a place for manufacturing, for India and for exports. So for me, consolidation of Make in India will have to be worked on. How is the government looking to link the issues of Industry 4.0 with all this? The exercise I’ve started is to understand sectorally and to talk to states to ask how ready they are for Industry 4.0. I am open to accommodating all industries which are ready, partly-ready and not at all ready. I’m going to factor in other policies to see how best this is going to help in our attempt to make India a manufacturing hub and to ensure employment. The government is pushing Digital India, which in a way is consistent with Industry 4.0 — robotics, internet, knowledge-based economies, smartness in cities, smartness in manufacturing. I will also be able to link Skill India with this. This has already started and we’re coming out with a new industrial policy, which will absorb the 2011 national manufacturing policy as well as face industry 4.0 issues and push Digital India. We have just started engaging with states. Hopefully by September, which marks three years of Make in India, I should come out with an industrial policy. Has demonetisation affected the plan to boost industrial growth, because the Index of Industrial Production has contracted in February? These are monthly fluctuations. I will not get tempted to comment based on these. On demonetisation, I have said it did have an effect during the two-three weeks of that quarter, after the announcement was made in November. The effect was in sectors where migrant and unskilled labour was involved. However, most labour-intensive export-driven sectors have also taken upon themselves to have the Jan Dhan work accentuated to give bank accounts to workers who didn’t have it. So I don’t think the industrial policy will bear the brunt of demonetisation. That phase is long gone. How long will it take for the industrial policy to boost job creation? In sectors such as defence and railways, where big investments are happening, numbers will be available only after the gestation period. So I would not conclude in a hurry that no employment is happening. Similarly, I am also guided by the principle that the government alone won’t be able to create all jobs. What we’re also doing is to ensure that the spirit of entrepreneurship among citizens is kept up. That is where the Stand Up and Start Up India policies, together with Mudra, are driven towards. The Prime Minister has also given direction on potential job increases. Is it a new initiative? Some months ago, the PM made it explicitly clear that every investment proposal that comes to the Cabinet should have at least a paragraph on direct and indirect employment. So all of us have been very clearly geared towards doing that due diligence. How will things get better for companies such as Apple under the new industrial policy that the government is planning? They have cited many problems in starting manufacturing here. Things will improve for everybody. No policy is made for only one company. I can only say that manufacturing being our focus, we’ll constantly keep improving the environment for manufacturing and investors, be it Indian or foreign, so that they find it easier to do business here. Has Apple made a fresh case for itself after the government launched a phased manufacturing policy for mobile phones and electronics? I haven’t had any fresh request from them. You seem to have changed your stance on the issue of rupee’s valuation. Now, you’re pitching for a stronger currency as it reflects the strength of the economy. Have you given up on letting the rupee finding its true value? The rupee finding its true position has always been the government’s stance and the government has never had any intention of artificially lowering or boosting it. I don’t know where the earlier debate started. But it was probably part of a Cabinet note doing the ministerial rounds in which I had said internal reforms are needed to give exports a substantial boost. One of the things we had suggested was how the rupee might or might not help in this. I don’t know how it came out that the commerce department was in support of tweaking the value of the rupee. But, again, recently when asked about the rupee appreciation, I did say that exporters have been facing such currency fluctuation for the past year. So I am confident that exporters would have factored in that it is becoming the new normal. A strong rupee should not be seen only as a deterrent for exports. The economy is not only dependent on exports, but on the domestic market as well. So that’s the background with which this debate and the earlier narrative happened. Is the rupee gaining strength a reason behind India increasingly pushing for a rupee trade mechanism with other nations? Ages ago, we had a rupee trade with the erstwhile USSR, which took a back seat with the country becoming several independent republics. It didn’t get revived after liberalisation. That this will boost trade is one of the inputs I got during a review of the foreign trade policy. Is the government keeping the export target of $900 billion by 2019-20 intact in the current foreign trade policy? There hasn’t been even a single suggestion by industry or anyone else that would mean expressing doubts over this target. Wouldn’t the industry find it difficult to deal with disruptions such as demonetisation, the proposed GST roll-out and now a possible change in the financial year cycle? I think the economy, including manufacturers and exporters, have an advantage of information being given to them on time. Except for demonetisation, for obvious reasons, it was not a bolt from the blue every time. Of course, each one will have to make certain adjustments in compliance and record-keeping. I don’t see them as disruptions. On the contrary, they are streamlining the economy. India is set to lose the right to provide direct benefits to exports under WTO laws by 2018. How is the government looking to tackle this? We can’t let sectors that need help go high and dry. This won’t stop me from executing my right to support them through an agreeable route. How receptive are other nations of India’s proposal for trade facilitation agreement on services at the WTO? Also, do you feel it will deter the US administration from imposing restrictions on the visa regime? Although the two issues are related, I don’t think they are related in the sense you are asking. The trade facilitation agreement on services is a larger issue of a much-needed framework and understanding of global services trade. Of course, it has a long way to go, it has to be discussed, questions have to be answered and we have to seek the cooperation of all members. But on the H1-B visa, an executive order can be stretched only to an extent. I again put my faith in the Indian information technology sector because it has seen the details of what is coming — from not only the US, but also Australia and other nations. The sector is factoring in such changes. But there is a shortage of the required skillset among local talent. Recent data show not only Indian companies, but US companies are also using the H1B visa system to recruit. Are you looking at the IT issue as short-term aberration or is this going to continue? I don't look at it as a short-term aberration. It will have long-term impact, though not a negative one. But Indian industry will have to factor this in while taking decisions.
Source: Business Standard
There has been a substantial increase in the number of entities certified by the Global Organic Textile Standard (GOTS), where there were about 3,814 entities in 2015, as compared to 4,642 last year, thus an increase of 21 per cent. With GOTS certified entities spread across 63 countries, the countries with the most GOTS certified entities are – India (1,488), Turkey (423), Germany (347), Bangladesh (331), China (269), Italy (195), Pakistan (172), Portugal (96), Korea (61) and Japan (58). GOTS was developed by leading international standard setters — Organic Trade Association (US), Japan Organic Cotton Association (Japan), International Association Natural Textile Industry (Germany), and Soil Association (UK) — in order to define globally recognized requirements that ensure the organic status of textiles. According to the Global Organic Textile Standard website, key elements of inspection which lead to the certification include:
• Review of bookkeeping in order to verify flow of GOTS goods (input/output reconciliation, mass balance calculation and trace back lots and shipments)
• Assessment of the processing and storage system through of visits to the applicable facilities
• Assessment of the separation and identification system and identification of areas of risk to organic integrity
• Inspection of the chemical inputs (dyes and auxiliaries) and accessories used and assessment of their compliance with the applicable criteria of the GOTS
• Inspection of the waste water (pre-)treatment system of wet processors and assessment of its performance.
• Check on social criteria (possible sources of information: interview with management, confidential interviews with workers, personnel documents, physical on-site inspection, unions/stakeholders)
• Verification of the operator’s risk assessment of contamination and residue testing policy potentially including sample drawing for residue testing either as random sampling or in case of suspicion of contamination or non-compliance
“The Indian textile industry is making large strides in both domestic and international arenas. Consistent growth of GOTS certified facilities in the country also signifies the growing focus of Indian entrepreneurs on social and environment compliances, besides delivering high quality products. I am glad to report this growth and shall keep working to take this further,” says Sumit Gupta, regional representative of India and Bangladesh and deputy technical director of GOTS. A stringent voluntary global standard for the entire post-harvesting process (including spinning, knitting, weaving, dyeing and manufacturing) of apparel and home textiles made with organic fibre (like organic cotton or organic wool), the GOTS includes both environmental and social criteria. Some key provisions include a ban on the use of highly hazardous chemicals (such as azo dyes and formaldehyde), genetically modified organisms (GMOs), and child labour, while requiring strict waste water treatment practices and strong social compliance management systems. “The increasing market acceptance is a result that GOTS delivers solutions for sustainability-based problems for both, business need for risk management and credibility and consumers need for transparency,” said Claudia Kersten, GOTS director, marketing and finance. “The significant growth in numbers of GOTS-certified facilities shows the willingness of more and more decision makers not only to drive change by complying with the strict GOTS criteria but also to prove this change by undergoing an independent third party certification,” notes Herbert Ladwig, GOTS managing director. “With enhanced global focus on sustainability, GOTS has never been more relevant and best suited than now,” adds Gupta. India remained the top country for ninth year in a row with 1,488 GOTS certified facilities. In India the interest in GOTS certified organic textile products is on the rise in both consumers as well as industry. India also witnessed an increase of brands and stores selling GOTS certified textiles in retail.
Source: Business World
German safety, testing and certification giant, TÜV SÜD, will organize a seminar for textile manufacturers on 12th May at Crown Plaza in Jaipur. The seminar will focus on technical solutions for textile manufacturing and lean management with an aim to help them access global markets by improving overall quality of their products. In the textile and apparel industry, pressure to be cost effective as well as dealing with complexities of the global supply chain can be challenging to ensure end-to-end quality control. At the same time, the rapidly evolving fashion trends require businesses to constantly update their offerings. The seminar on technical solutions will help manufacturers overcome such challenges. TÜV SÜD supports manufacturers with safety and quality guidance while helping minimise costs with testing, inspection, certification and training services. Similarly, the session on lean management will focus on identifying each step in a business process and eliminating the steps that do not add value. This concept is known to help businesses improve the long-term operational efficiency. Announcing the seminar, Mr. Ezhilan Neelan, Vice President, Consumer Product Services, TÜV SÜD South Asia, said, "According to India Brand Equity Foundation (IBEF), India is the second largest textile exporter in the world. There is immense potential in the sector to further strengthen its global position and contribute more to the growth of the country. Such technical sessions help manufacturers grow their business and raise efficiency levels alike. TÜV SÜD offers a one-stop solution across the entire textile product lifecycle. Our global expertise in lean management can help businesses go a long way in reducing operational costs. We look forward to interact with the textile industry in Jaipur through this seminar." In 2015-16, textiles and apparel industry employed 105 million people, 13 times more than the information technology sector. If managed well, it has the potential to grow immensely in the coming years. The sessions will be conducted by globally acclaimed experts at TÜV SÜD. TÜV SÜD has state-of-the art textile testing labs in Tirupur and Gurgaon; and leather testing labs in Ambur and Ranipet areas. These labs have extensive resources for the products to achieve compliance to national and international chemical, quality and performance standards.
About TÜV SÜD
TÜV SÜD is a leading international service organisation catering to the strategic business segments industry, mobility and certification. Headquartered in Munich, Germany and founded in 1866, it has over 24,000 employees representing more than 850 locations throughout the world. Optimising technology, systems and know-how, the interdisciplinary specialist teams act as process partners to strengthen their customers' competitiveness.
About TÜV SÜD South Asia
TÜV SÜD South Asia is the leading consulting, testing, inspection and certification (TIC) company with presence across India, Bangladesh and Sri Lanka. With more than 1,300 employees, TÜV SÜD South Asia has serviced over 10,000 clients to date through the past two decades. It is present at 32 locations including 19 labs across the three countries. Today, TÜV SÜD South Asia is internationally competent to provide TIC solutions cutting across a wide range of sectors that include management systems, conventional and renewable energy, water, sanitation, environmental technology, infrastructure, transit systems, real estate, food, supply chain, agriculture, toys, consumer electronics, textiles, leather and related products, automobile and components, and technical as well as soft-skills training.
Source: PR Newswire
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1057.41 |
USD/Ton |
-0.34% |
5/9/2017 |
|
VSF |
2252.42 |
USD/Ton |
1.63% |
5/9/2017 |
|
ASF |
2288.63 |
USD/Ton |
0% |
5/9/2017 |
|
Polyester POY |
1068.99 |
USD/Ton |
0% |
5/9/2017 |
|
Nylon FDY |
2491.42 |
USD/Ton |
0% |
5/9/2017 |
|
40D Spandex |
5359.45 |
USD/Ton |
0% |
5/9/2017 |
|
Polyester DTY |
1296.41 |
USD/Ton |
0% |
5/9/2017 |
|
Nylon POY |
2752.15 |
USD/Ton |
0% |
5/9/2017 |
|
Acrylic Top 3D |
5808.49 |
USD/Ton |
0% |
5/9/2017 |
|
Polyester FDY |
1332.62 |
USD/Ton |
0% |
5/9/2017 |
|
Nylon DTY |
2361.06 |
USD/Ton |
0% |
5/9/2017 |
|
Viscose Long Filament |
2462.45 |
USD/Ton |
0% |
5/9/2017 |
|
30S Spun Rayon Yarn |
2868.03 |
USD/Ton |
0% |
5/9/2017 |
|
32S Polyester Yarn |
1658.53 |
USD/Ton |
-0.87% |
5/9/2017 |
|
45S T/C Yarn |
2679.73 |
USD/Ton |
0% |
5/9/2017 |
|
40S Rayon Yarn |
1810.63 |
USD/Ton |
0% |
5/9/2017 |
|
T/R Yarn 65/35 32S |
2245.18 |
USD/Ton |
0% |
5/9/2017 |
|
45S Polyester Yarn |
3027.37 |
USD/Ton |
0% |
5/9/2017 |
|
T/C Yarn 65/35 32S |
2346.57 |
USD/Ton |
0% |
5/9/2017 |
|
10S Denim Fabric |
1.35 |
USD/Meter |
0% |
5/9/2017 |
|
32S Twill Fabric |
0.85 |
USD/Meter |
0% |
5/9/2017 |
|
40S Combed Poplin |
1.17 |
USD/Meter |
0% |
5/9/2017 |
|
30S Rayon Fabric |
0.65 |
USD/Meter |
0% |
5/9/2017 |
|
45S T/C Fabric |
0.66 |
USD/Meter |
0% |
5/9/2017 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.14485 USD dtd. 9/05/2017) The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
More than 1,477 exhibitors from 55 countries are presenting their complete spectrum of potential areas of application for textile materials and technologies at the biggest ever edition of Techtextil, which is currently underway in Germany. Over 1,054 international exhibitors are participating in the fair and 14 countries have set up their pavilions. The companies registered as exhibitors include all international market leaders, as well as numerous companies taking part for the first time or returning after a period of absence. Moreover, several German start-ups and young companies will be presenting their new textile developments at the event, which Messe Frankfurt has organised in cooperation with the Federal Ministry of Economics and Energy. At the 19th Techtextil Symposium, international experts will present their latest research results, products and technologies from the fields of technical textiles, nonwovens and functional apparel fabrics in seven lecture blocks on all days of the fair. For the first time, Techtextil Symposium is cooperating with the Dornbirn Manmade Fibre Conference, which will present a special lecture block on sustainability and resource management. The guest of honour at this year’s Techtextil is Dr Reinhold Ewald, ESA astronaut and professor for astronautics and space stations at the University of Stuttgart. "High-tech materials based on fibres are essential in space travel when it comes to reducing the weight of space capsules. Every additional gram increases costs. Furthermore, textiles also save lives. Just think about astronaut suits. At the same time, materials that have been developed for space travel often find their way into daily life," Ewald had said during a press conference before the event. Launched successfully at Techtextil and Texprocess 2015, the Innovative Apparel Show is witnessing the participation of universities for fashion and design from Germany, France, Italy and Portugal. The young designers show creations revolving around the subjects of textile effects, creative engineering and smart fashion. Twice a day, a fashion show in the foyer of Halls 5.1/6.1 will bring the pieces to life in a professional setting. Techtextil will also honour new developments and innovations in the fields of technical textiles, nonwovens and functional apparel textiles with the Techtextil Innovation Award. The international TensiNet network along with Techtextil will honour the work of students and young professionals within the framework of the ‘Textile Structures for New Building’ competition, which promotes innovative and practical concepts for building with textiles or textile-reinforce materials. Texprocess, which is being held concurrently with Techtextil, is the leading international trade fair for the garment and textile-processing industry and presents the latest machines, plant, processes and services for making up textile and flexible materials. With 312 exhibitors from 36 countries, this will also be the biggest ever edition of the fair. The focus of Texprocess is on digital textile printing and, for the first time, will include a digital textile micro-factory.
Source: Fibre2fashion.
Readymade garment exports from Bangladesh increased by 2.21 per cent year-on-year during the first ten months of the current fiscal 2016-17. In July-April 2016-17, Bangladesh earned $23.137 billion from garment exports compared to exports of $22.636 billion in the corresponding period of the previous fiscal, Export Promotion Bureau data showed. The increase in the value of garment exports was lower than the 3.92 per cent growth registered in overall exports by Bangladesh during the ten-month period. Category-wise, knitwear exports rose 4.81 per cent to $11.254 billion in the first ten months of fiscal 2016-17, as against exports of $10.737 billion during the same months of the previous fiscal, as per the data. Germany was the largest importer accounting for $2.343 billion of all knitwear exported from Bangladesh, followed by the United Kingdom with imports of goods valued at $1.368 billion. However, exports of woven apparel decreased by 0.14 per cent to $11.883 billion during the ten-month period under review, compared to exports of $11.899 billion during July-April 2015-16. The United States was the largest importer with $3.207 billion worth of woven clothing supplied by Bangladesh. Germany and the United Kingdom procured woven apparel valued at $2.007 billion and $1.347 billion, respectively. Woven and knitted apparel and clothing accessories’ exports together accounted for 80.55 per cent of $28.721 billion worth of total exports made by Bangladesh during the period under review. In the previous fiscal that ended on June 30, 2016, garment exports earned $28.094 billion for Bangladesh, showing an increase of 10.21 per cent over $25.491 billion exports made in 2014-15. Of this, knitwear accounted for $13.355 billion while woven apparel constituted $14.738 billion. For fiscal 2016-17, Bangladesh has set apparel export target of $30.379 billion, with knitted and woven categories contributing $14.169 billion and $16.210 billion respectively.
Source: Fibre2fashion
Six member companies of the Taiwan Smart Textiles Alliance will showcase a variety of smart textile products at a special pavilion at the Computex Taipei 2017, scheduled from May 30-June 3. Co-organised by the Taiwan External Trade Development Council (TAITRA) and Taipei Computer Association (TCA), Computex Taipei is the leading global ICT and IoT show. The six companies displaying their products at the fair are Everest Textile, Nine Million Tech, AiQ/Tex-Ray Industrial, Maxtek Go-Go, Ruentex and Sunstar Taiwan. These companies will exhibit interactive textile fabrics and other smart textiles embedded with electronics components at the show. They will also showcase power-saving wireless physical sensing transmission modules at the five-day exhibition.
The Taiwan Smart Textiles Alliance was formed in June 2016 with the help of Taiwan Textile Research Institute (TTRI). It brings together manufacturers as well as government and academic research units to develop innovative products, set up industrial standards and explore markets, according to TTRI. The Alliance now comprises around 40 companies from various industrial segments, including raw material suppliers, textile manufacturers, designers, electronics and systems suppliers, marketing channels and accreditation organisations. In order to further develop smart textiles in Taiwan, the Alliance is working with other industrial bodies like the Taiwan Electrical and Electronic Manufacturers Association. It is also collaborating with accreditation institutes to frame relevant accreditation regulations and criteria.
Source: Fibre2fashion
The EU-Vietnam Free Trade Agreement (EVFTA) signed has opened up many opportunities for Vietnamese commodities to enter the EU market. A workshop on promoting trade with EU market via Amazon online shopping channel will be held on May 10 in Hanoi, according to the Vietnam Textile and Apparel Association (Vitas). The workshop will be a venue for businesses and experts to discuss online shopping trend on Amazon, the world’s leading online shopping website. Two German experts in e-commerce and marketing strategy, André M. Aslund and Ryan Ong, will share their experience with and give advice to participating businesses. It will also look into measures to promote advantages of textile of and leather footwear products in export. Due to the EVFTA, the trend of e-commerce toward this huge market is grown rapidly, said Truong Van Cam, Vice President of Vitas.
Source: YNFX
INVISTA plans to expand its capacity of Nylon 6,6 fiber used in a diverse range of applications for which it would be investing over $65MM in state-of-the-art fiber production equipment at its US based Camden, SC facility. This investment will significantly increase domestic US capacity of high-tenacity, specialty fibers used in CORDURA fabrics. These durable fabrics offer valuable solutions in military applications such as bags, backpacks and ballistic vest carriers as well as a wide variety of commercial end-uses from hiking boots to hunting gear, workwear to motorcycle, and many other outdoor and lifestyle apparel and equipment products. The new assets will also be capable of manufacturing bulked continuous filament and high-quality fibers for airbags and industrial sewing threads. According to Jeff Brown, Executive Vice President, INVISTA Performance Materials division, this investment is utilizing a combination of patented and proprietary technology with flexibility such as solution dyeing which enables increased innovation opportunities around fiber properties and performance and creates a strong platform for their future growth. Brown said that Camden is an ideal location being situated in the heart of the textile industry. As INVISTA’s largest integrated nylon polymer and fiber producing facility, this site offers an ideal footprint for reinvesting in high performance solutions for the markets they serve. This latest investment by INVISTA shows their ongoing commitment to provide with differentiated value added products manufactured by state-of-the-art equipment for its domestic and global customers.
Source: YNFX
Finnish textile producers witnessed their turnover increase by a tenth between last November and December. There was a boost in domestic sales by 10 percent while export figures increased by 12 percent. Total exports in 2016 amounted to 650 million euros, with industry turnover grossing a total of four billion euros. Finnish fashion is booming around the world, reveal recent export figures. According to a report by Finland's Textile and Fashion Union, garment producers reported a 15% increase in exports last year compared to the year before. Finnish designers ride the wave of natural and clear-cut Scandinavian aesthetic, while designing bright, colourful pieces especially Asian consumers can’t seem to get enough of. Finnish designs seem to be especially in vogue in neighbouring Sweden, which ousted Russia from its number one spot in exports last year. Lastly, Finland’s popularity all boils down to functionality. Thanks to the country’s cool climate, Finns have mastered the craft of creating clothes designed for cold conditions. The Textile and Fashion Union estimates that the recipe for the Finnish fashion fad is relatively simple. Opportunities for the textile industry in Finland are in high-quality product design and fast delivery.
Source: YNFX.
Fine Cotton Factory, is targeting the mattress category for growth, both in Canada and in the United States, and it has backed its ambitious growth plans with a big expansion of its factory here. The company doubled its footprint to 80,000 square feet to accommodate 70 knitting machines, including high speed decorative mattress ticking machines, and boosted its mattress ticking capacity to half a million yards per month. It also opened a 5,000-square-foot showroom, a sample room and a design studio. Skip Kann, the textile veteran who is director of special projects for the company said that they rebuilt their entire factory to increase space and production capabilities and significantly enhanced their ability to produce high-quality fabrics for their U.S. customers. Fine Cotton Factory, whose product line encompasses far more than just cotton fabrics, produces decorative ticking for every type of mattress, and uses a wide variety of yarns, designs, colors and performance finishes. The company’s technical staff helps the company’s customers sort through the numerous choices to find the fabrics best for their use. Technical expertise has long been a hallmark of the company. Biren Patel started as a knitting technician at age 22, and immediately began modifying the company’s knitting machines to make them more adaptable to the needs of the company’s customers. He brings his engineering know-how to his job as president of Fine Cotton Factory. Today the company prides itself on its state-of-the-art technology and its deep knowledge of textiles. Fine Cotton Factory got off to a fast start as a supplier to the textile industry, supplying fabrics to such well-known brands as Gap, Adidas, Reebok, Brooks and Nike. Harish Patel, CEO, focused on apparel textiles in the early days of the business at Fine Cotton Factory. His skills in the areas of administration, sales, purchasing and financing helped put the business on a solid footing, and his extensive experience in the textile industry, gained at a knitting factory in Toronto, has been vital to Fine Cotton Factory’s success. Biren Patel has made environmental stewardship a priority at the company. The company produces eco-friendly textiles and fabrics, recycles waste raw materials and fabrics, and operates “clean rooms” in his facility. The company uses a number of organic fabrics and organic, biodegradable dyes. They work with Skip Kann, the consultant who is director of special projects and business development. He’s been in the textile industry for decades, and is an expert in dyeing, finishing, and textile performance and testing. He played a key role in the development of stonewashing for denim blue jeans while working with Lee Jeans. The Patels and Kann form a close-knit team, one focused on helping the company grow its business around the world, in Canada and in the key U.S. market. Kann is spearheading the company’s growth push in the decorative mattress ticking market in the U.S.
Source: YNFX.
Ethiopia is aiming ambitious target to generate USD 30 billion from the export of garment and textile by the year 2025. However, it is not the first time for the government to look to the textile and clothing supply chain as one of the country’s key targets for growth whose shipments are only 115million USD 8 years before the year 2025. The target set is 300 fold rise in shipments within 8 years. Back in 2015, the country’s annual export for clothing was 73.25 million USD. According to Dr. Arekbe Oqubay, Special Advisor to the Prime Minister Hailemariam Desallegn, the plan will transform Ethiopia to a compelling new sourcing hub for brands, retailers and their suppliers. By 2025 they want to make Ethiopia the leading apparel and textile manufacturing hub in Africa capable of exporting up to $30bn. This is the single, bold vision they have. It is a challenge, but one they are confident that they can achieve. They believe if Vietnam can do it, if Bangladesh can do it, Ethiopia can do it even better. Until 2010 the prime focus was on agriculture, an even in the last 5 years it has been in transition, Arkebe noted. But now they are giving more attention to manufacturing. And if they look at manufacturing, then apparel and textiles is out top priority because it’s the largest employing industry, and also the international market is significant: every household requires apparel and textile products. According to Ranjan Mahtain, Chairman and CEO of Hong Kong based Epic Group, one thing unique in Ethiopia is that there has never been such an organized roadmap dedicated to apparel and textiles.
Source: YNFX
Delegates from the Ethiopian government and textile industry as part of their study tour in India visited Government PolytechnicNagpur (GPN) last week, to know about cotton growing methods and development in cotton textiles. 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. Deepak Kulkarni, GPN's head of Textiles Manufacturing Department, said that it was an industry-institute interaction meet on cotton growth and development in Vidarbha region. 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. Vidarbha region could be the next emerging zone for textile operations as they have a strong agriculture base and has attracted number of diverse industries ranging from food processing, textiles, power engineering, logistics etc. Shrikant Gadge, a local textile consultant present at the seminar said that Vidarbha contributes up to 30% of cotton crop in India. The state has 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. Recently, Maharashtra has sanctioned Rs 2000 crore for the region for Farm-to-Fashion drive project. The cotton growth and development has seen a significant progress in last few years in the region.
Source: YNFX.
China's imports and exports are likely to continue their upward trend this year but pressure will remain due to external uncertainties, a report said Thursday. Foreign trade will be in a better position thanks to improving structure and efficiency and more growth momentum, according to a report by the Ministry of Commerce. The sound fundamentals have remained unchanged and local companies still have advantages in global trade, said the report. Boosted by a pickup in external demand and a stable domestic economy, China's trade with the rest of the world grew strongly in the first quarter. Exports in yuan-denominated terms rose 14.8 percent year on year, while imports jumped 31.1 percent. The trade surplus dropped 35.7 percent. The report warned of a still grim trade situation and called for continued efforts to ensure steady development, citing a shaky recovery of external demand, more competition and trade frictions.
Source: Xinhua.
Golden Giants Industries Limited, a Calabar-based textile firm, on Tuesday solicited collaboration with shoe, leather and fabric makers in Aba, to enhance the quality of their products. David Ajayi, the Deputy General Manager of the company, made the call in an interview with the News Agency of Nigeria (NAN) at a Made in Aba fair hosted by the Pride of Aba, a group of leather manufacturers. Ajayi said that partnering with company would help the Aba shoe, leather and garment industry in the commercial nerve centre of Abia, to access raw materials needed for shoe production at a cheap rate. “Textile is embedded in the production of shoes; so, we want to partner with these our friends who are making us proud as shoemakers so that from us, they can source some of their raw materials. “And we want to give them the opportunity to benefit from us, so that we can also benefit from them. “We want to make them take advantage of where we are and even what we do not have, we can import it for them; that is why we are here. “They need raw materials for their production and what we produce is useful to them as raw material which they are currently sourcing from overseas.
”It is better for them to source from within Nigeria than overseas.”
He said that beyond sourcing their raw materials from his company, the Aba manufacturers could use the facilities of the company to import other raw materials and export their products. He said that the manufacturers could save cost using the Export Processing Zone facility which is duty free, to import or export their products, especially when they produce within the Calabar Free Trade Zone. “What I am telling them today is that we should cooperate with each other so that we can work together to raise the glory of this nation to a first world nation. “The Chinese are dominating now. We want these people to reclaim what the Chinese are taking away and to move to dominate them as well,” he said. Dr Obinna Nwaogwugwu, South-East Director, Nigerian Youth Chamber of Commerce, said that they were at the fair to enlighten the entrepreneurs on how to export their products and raise business funds. According to him, would-be Nigerian entrepreneurs have problems with raising business funds because of ignorance on how to go about it. “One of their major challenges is having a good business idea. The issue is that once you have a good business idea, there are people even within Aba here who are willing to support your business. “But the key issue with some of these business people is that they go to people beggarly. ”They don’t present real proposals that would enable them to get the funding they want from would-be sponsors,” Nwaogwugwu said. He urged prospective entrepreneurs to register their businesses with relevant agencies to enable them to access funding and help to develop their businesses. Nwaogwugwu said that the chamber’s entrepreneurship clinic had been ongoing from January 2017 and urged residents to use the opportunity to advance their business plans. In a remark, Amaobi Nwanaago, the President, Stand Up Africa Multi-purpose Cooperative Society, Aba North, said that the fair was organised to encourage footwear and garment makers. He said that by coming together and showcasing their latest products, the fair would foster a healthy competition among its members.
Source: Business Day
