Countering criticism over the government’s failure to create enough jobs, the Centre on Monday said that it has provided self-employment to over 7 crore people by providing loans under MUDRA scheme. "Over Rs 7 crore people have been given loan under Prime Minister MUDRA Mission. The loans have been given for entrepreneurship and the loans are being paid back. But those people have now been self-employed and probably have given jobs to others too," she told India TV Editor-in-Chief Rajat Sharma. Speaking at India TV conclave 'Samvaad', Union Minister for Textiles Smriti Irani was critical of the previous UPA government over closure of mills. "UPA government closed many textile mills during its 10 years of rule. There is even a case against a district-level Congress leader in connection with the theft of equipment of textile mill. Now people hope that the closed mills will be reopened by Modi government," Irani claimed. She said that UPA government disbanded Textile Commissioner's office which provided data on employment in the sector which has been brought back by Modi government. Questioning Congress' intention on employment, Irani said the party led by Sonia Gandhi stopped Labour Law reforms in the Rajya Sabha. Asked to comment on Congress leader Kapil Sibal's statement reminding her "bangles for Manmohan Singh" after Indian soldier Hemraj was beheaded by Pakistan Army, Irani said the government is making all attempts to bring back Kulbhushan Jadhav who has been sentenced to death by Pakistan militray court. "As we are speaking here, India is making its case at the International Court of Justice (ICJ) to save Kulbhushan Jadhav. I want to ask Sibal ji how many times he or the UPA government approached ICJ to save Indian lives. How many times Sibal ji went to ICJ to fight for Indian lives," she said. Launching an attack on Congress vice-president Rahul Gandhi against whom she contested Lok Sabha election from Amethi in 2014, Irani said "we wait for him to speak." When asked about the closure of Rahul Gandhi's office in Amethi, Irani said, "Rahul Gandhi's office was running at the land intended for guest house attached to a hospital. People had many times complained to district administration but no action was taken as the then Chief Minister Akhilesh Yadav had stopped it. But after his government was gone, administration said it should be closed. I have read that Rahul Gandhi himself gave up the office." When asked about Modi government's steps for women security, the minister said that the Centre has taken many steps on women safety but there was a lot to be done. She also rejected the charge that Nirbhaya remains unused. Commenting on RJD chief Lalu Prasad Yadav's statement that there was no anger against recent Rohtak rape case as compared to the Nirbhaya case, Irani said, "It is inhumane to say that one rape is different from others. The reason for anger after Nirbhaya rape was that govt was not receptive or responsive. Govt has taken swift action in Rohtak gang rape and people believe there will be no compromise with justice."
Source: Nyoooz
INDORE: A surge in the cost of production and increased competition from international players has hit regional textile industries. Industry experts said despite a drop in cotton prices, textile mills don't benefit.Suresh Maheshwari, owner of a textile mill said, "The textile market is in a depressive state. We are not competitive at an international level because countries like Bangladesh, Vietnam and Pakistan offer garments at cheaper rates. The demand for garments from overseas markets have dropped due to non-competitive prices and a surge in competition from rival competitors.Fluctuations in cotton prices and poor quality cotton in the region has also made trade difficult for textile mills. "Strong Indian currency has also affected sales of textile mills in the country," Maheshwari added.MC Rawat, secretary, Madhya Pradesh Textiles Mills Association said, "Textile industries in the region are reeling under the high pressure of increased labour wages and power costs making their products expensive against rival countries. We are not competitive at an international level because countries like Bangladesh, Vietnam and Pakistan offer garments at cheaper rates."Experts said, benefits given by governments in rival countries such as subsidies and economic power supply has made their products popular in the global market.Industrialists said rising power costs, higher minimum wages and sluggish demand for garments from overseas buyers has dampened the market sentiment. "Strong Indian currency has also affected sales of textile mills in the country," Maheshwari added.MC Rawat, secretary, Madhya Pradesh Textiles Mills Association said, "Textile industries in the region are reeling under the high pressure of increased labour wages and power costs making their products expensive against rival countries."A section of industries said the lack of clarity on GST has also hurt business in the region.Industrialists said textile mills hesitate to build up stock and conduct business hand to mouth because they lack knowledge about tax slabs under GST.The state government is revising its textile policy and coming up with a garment policy.. .
Source: Nyooz
The Maharashtra State Khadi and Village Industries (MSKVI) board has drafted a detailed plan to revive home-based and village industries in the state. With an objective to provide employment to women while also increasing khadi sales, the plan focuses on women khadi weavers from Amravati and increasing khadi production through solar charkha. Talking about boosting several home-based and village industries, deputy CEO of the MSKVI board Bipin Jagtap said, “Many of these products have for decades established the identity of the regions they are manufactured in. With the decline of these businesses, not just the identity of that region is lost but thousands of people associated with the industry lose employment too. Our aim is to boost these businesses, explore online market for these locally manufactured products and also make them available for international buyers.” For the promotion of khadi and other village industries, the MSKVI board has been considering cluster development. Last year, 130 solar charkhas were distributed by the state government among Scheduled Caste women associated with Kasturba Mahila Bachat Gat, a self-help group in Amravati. “Solar charkha is a technology innovation and a revolution in the khadi sector. This will not just help boost khadi production but also help out weavers,” said S Dalvi, who is associated with the Kasturba Mahila Bachat Gat, according to a news agency report. “For the past many years, there has been a decline in the number of weavers associated with khadi, due to low wages, dearth of artisans, and less productivity. For quite some time, the area remained neglected, or we could say didn’t get as much attention as it required,” the report said quoting a MSKVI official. The traditional hand spinning wheel fetches Rs 1,500-2,000 a month, but this amount can go up to Rs 8,000 per month using a solar charkha. Moreover, it is also environment-friendly.
Source: Fibre2fashion
India’s economy is set to grow at 7.4% in the current fiscal year 2017-18 against 7.1% in the previous year, on the back of pick-up in consumption demand and higher public investment, the Asian Development Bank (ADB) said on Thursday. In its latest Asian Development Outlook (ADO) 2017 report, ADB said while the recent gross domestic product (GDP) data for 2016-17 did not fully capture the effects of demonetisation, the slowdown did reflect a continued slump in investment. “Dragging on growth were excess production capacity, problems that past overinvestment left on corporate balance sheets, and new bank lending inhibited by too many stressed assets. Moderately higher growth is projected as consumption picks up and government initiatives boost private investment,” it said. “An array of important economic reforms has propelled India’s economic success in recent years. A continued commitment to reform—especially in the banking sector—will help India maintain its status as the world’s fastest growing major economy,” Yasuyuki Sawada, ADB’s chief economist, said. The ADO expects consumption to pick up as more new bank notes are put in circulation after the shock withdrawal of high-value currencies on 8 November and as planned salary and pension hike for state employees are implemented. “The public sector will remain the main driver of investment as banks continue to wind down balance sheets constrained by high levels of stressed assets. Exports are forecast to grow by 6% in the coming year,” it said. Among potential risks for the Indian economy, the assessment notes risks from higher oil prices as Indian imports nearly 80% of it fossil fuel needs. “A rapid increase in the price of oil could undermine the country’s fiscal position, stoke inflation and swell the current account deficit,” it warned. ADB projected inflation to accelerate to 5.2% in 2017-18 and 5.4% in 2018-19 as the global economy recovers and commodity prices rebound. The report estimates of a $1 increase in oil prices raises the import bill by nearly $2 billion. In 2016-17, rising oil prices resulted in a 37.6% increase in India’s import bill. To mitigate India’s vulnerability to oil price swings, the government has proposed reducing dependence on imported oil by 10% over the next five years through more efficient domestic production and increased private investment into the sector, the report noted.
Source: Livemint
Exports in April grew at 19.4 percent, resulting in growth for eight consecutive months, but the trade difference was the highest in 29 months because of a 49.2 percent jump in imports.The increase in imports was because of rising commodity prices and inbound shipments of gold, but was also an indication of industrial recovery. Exports in April grew at 19.4 per cent, resulting in growth for eight consecutive months, but the trade difference was the highest in 29 months because of a 49.2 per cent jump in imports. The increase in imports was because of rising commodity prices and inbound shipments of gold, but it was also an indication of industrial recovery. Exports had, however, grown higher at 27.6 per cent in March, which was the steepest in a little over five years. Outbound trade in April, the first month of the current financial year, was $24.6 billion, compared to $20.6 billion in the same month last year, according to the data of the commerce and industry ministry, released on Monday. Additionally, a spurt in demand and higher crude oil prices continued to push up imports to $37.9 billion in April, against $25.4 billion a year ago. The trade deficit thus, rose to $13.3 billion. “With the healthy increase in merchandise exports on a year-on-year basis in April 2017 getting dwarfed by the 49 per cent spike in imports, the trade deficit increased sharply higher than our forecast of $8-9 billion,” said Aditi Nayar, principal economist, Icra. Imports of petroleum and other crude oil products rose a little more than 30 per cent to $7.35 billion. Gold imports rose 211 per cent to $3.85 billion in April due to Akshaya Tritiya. Non-gold non-oil imports, indicating industrial recovery, rose substantially by 64.1 per cent. This may be partly because of rising global prices but may indicate increasing demand for industrial sectors. The index of industrial production grew 2.7 per cent in March, against 1.9 per cent in February. Indicating robust industrial demand, imports of machinery products rose 37 per cent to $2.65 billion. Higher prices for petroleum products and a revival in engineering export in the latter part of the financial year saw India’s export in 2016-17 reaching $274 billion, against $269 billion the year before. In April, the export of petroleum products saw the highest rise among major forex earners, rising by 48.8 per cent over a year before to $2.94 billion.
Source: Business Standard
India’s exports grew by 19.77 per cent to $24.63 billion in April on account of robust performance by sectors like petroleum, textiles, engineering goods as well as gems and jewellery. Imports too jumped 49.07 per cent to $37.88 billion last month from $25.4 billion in April 2016, according to the data released by the commerce ministry. A huge jump in gold imports pushed up the trade deficit to $13.24 billion during the month under review from $4.84 billion a year ago.The imports of the precious metal rose 3-fold to $3.85 billion in April compared to $1.23 billion in the same month last year.In the last fiscal, 2016-17, exports saw a growth of 4.71 per cent to $274.64 billion as against $262.3 billion in 2015-16.
Source: Financial Express
Imports grew 49% from a year ago to $37.8 billion, buoyed by a 211% rise in gold imports. Exports increased 19.7% to $24.6 billion, widening trade deficit to $13.2 billion from $4.8 billion in the year ago period “In continuation with the double-digit growth exhibited by exports during March 2017, exports during April 2017 have shown growth... Overall the trade balance has improved,” commerce and industry ministry said in a statement on Monday. Gold imports in the month ballooned to $3.8 billion from $1.2 billion in the year-ago period. “With every other form of financial asset fetching lower returns, it is gold that people are turning to as investment. Add to that rupee appreciation and latent demand for gold due to demonetisation, and imports of the yellow metal have skyrocketed,” said India Ratings chief economist DK Pant. The pace of growth of non-oil, non-gold imports firmed up to 43%, indicating strengthening domestic demand. Oil imports in April saw a 20% spike to $7.3 billion while non-oil imports were up 54.5% at $30.5 billion. This was the eighth consecutive month of rise in exports. Twenty-three out of 30 sectors showed an increase in exports. Ganesh Kumar Gupta, president of Federation of Indian Export Organisations, said that the increase in imports was primarily on account of high imports of petroleum, electronic goods, gold, pearls, precious and semi-precious stones, which augured well for gems and jewellery exports during the first month of the fiscal. Attributing growth in exports to an uptick in demand in the US and Europe, EEPC India chairman TS Bhasin said, “Continuation of accommodative monetary policies along with fresh policy measures in major economies are helping the global markets, also supported by a steady revival in most of the commodity prices”.
Source: Economy Times
The rupee saw a marginal drop of 6 paise to 64.11 against the US dollar in the opening trade due to fresh demand for the American currency. However, what limited the rupee’s fall was the dollar's weakness against other currencies overseas and a spectacular opening in domestic equities, traders said. Yesterday, re-asserting its dominance against the dollar, the rupee shot up 26 paise to end at a fresh 21-month high of 64.05, driven by robust macro data, even as exporters aggressively offloaded the American currency. The benchmark Sensex hit a fresh intra-day life-time high of 30,424.23 by surging 102.21 points or 0.33 per cent in the opening trade.
Source: Business Line
Radiation Protection Textile Market research report is a professional and in-depth study on the current state of the Radiation Protection Textile Industry. Asia-Pacific Radiation Protection Textile market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022. The Report provides a basic overview of the Radiation Protection Textile Market including definitions, classifications, applications and chain structure. The Radiation Protection Textile Industry analysis is provided for the international market including development history, competitive landscape analysis, and major regions development status. To begin with, the report elaborates the Radiation Protection Textile Market overview. Various definitions and classification of the industry, applications of the industry and chain structure are given. Present day status of the Radiation Protection Textile Market in key regions is stated and industry policies and news are analysed. On the basis of product, this report displays the sales volume, revenue, product price, and market share and growth rate of each type, primarily split into:
Metal Fiber Blended Fabric
Metallised Fabrics
Asia-Pacific Radiation Protection Textile Market by Application/End Users:
Home Textiles
Industrial Application
Military Application
Next part of the Radiation Protection Textile Market analysis report speaks about the manufacturing process. The process is analysed thoroughly with respect three points, viz. raw material and equipment suppliers, various manufacturing associated costs (material cost, labour cost, etc.) and the actual process. Top key players of industry are covered in Radiation Protection Textile Market Research Report:
Swiss Shield
Shieldex-U.S
JoynCleon
Yingdun
Swift Textile Metalizing
Tianxiang
Lancs Industries
Beijing Jlsun High-tech
Metal Textiles
Qingdao Hengtong
Aaronia AG
Holland Shielding Systems
Dongwei Textile
Aracon
Soliani EMC
Polymer Science
After the basic information, the report sheds light on the production. Production plants, their capacities, global production and revenue are studied. Also, the Radiation Protection Textile Market growth in various regions and R&D status are also covered. Geographically, this report split Asia-Pacific into several key Regions, with sales (volume), revenue (value), market share and growth rate of Radiation Protection Textile for these regions, from 2012 to 2022 (forecast), including
China
Japan
South Korea
Taiwan
India
Southeast Asia
Australia
Further in the report, the Radiation Protection Textile Market is examined for price, cost and gross. These three points are analysed for types, companies and regions. In continuation with this data sale price is for various types, applications and region is also included. The Radiation Protection Textile Industry consumption for major regions is given. Additionally, type wise and application wise consumption figures are also given. To provide information on competitive landscape, this report includes detailed profiles of Radiation Protection Textile Market key players. For each player, product details, capacity, price, cost, gross and revenue numbers are given. Their contact information is provided for better understanding. Other Major Topics Covered in Radiation Protection Textile market research report are as follows:
Marketing Strategy Analysis, Distributors/Traders
Marketing Channel
Direct Marketing
Indirect Marketing
Source: MILTECH
The new initiative aims to build a circular economy for textiles, starting with clothing. The Ellen MacArthur Foundation has launched a new initiative that brings together key industry stakeholders to build a circular economy for textiles, starting with clothing. The initiative is supported by a core philanthropic funder, the C&A Foundation, core corporate partners H&M and Nike, and a consortium of organisations including the Danish Fashion Institute, Fashion for Good, Cradle to Cradle and MISTRA Future Fashion. Participants in the Circular Fibres Initiative will work together to define a vision for a new global fibres system, which will address the significant drawbacks of the “take-make-dispose” model currently dominating the industry. The new system for textiles will be based on the principles of a circular economy, generating growth that benefits citizens and businesses, while phasing out negative impacts such as waste and pollution. “ The way we produce, use, and reprocess clothing today is inherently wasteful, and current rising demand increases the negative impacts. The Circular Fibres Initiative aims to catalyse change across the industry by creating an ambitious, fact-based vision for a new global textiles system, underpinned by circular economy principles, that has economic, environmental, and social benefits, and can operate successfully in the long term”, said Dame Ellen MacArthur, Founder, Ellen MacArthur Foundation.
Shared agenda
“At C&A Foundation, we support the production, uptake, and reuse of sustainable fibres. The Circular Fibres Initiative is important because it will establish the shared agenda and deep collaboration needed to shift the apparel industry to regenerative and sustaining business models,” said Leslie Johnston, Executive Director, C&A Foundation. Fibres are an important part of today’s global economy: clothing production has doubled in the last 15 years, with sales of footwear and apparel reaching US$ 1.67 trillion in 2016, the association reports. Meanwhile consumers keep their clothing for half the time that they did 15 years ago. After use, only around 15% of apparel waste is collected in the US, while the remaining 85% ends up in landfill. This characteristically linear economy, based on extractive and consumptive patterns, puts high demand on land, energy and other resources. The production and use of clothing accounts for around 3% of global CO2 emissions, and cotton production is now responsible for a quarter of worldwide insecticide use.
Plans
As a first step, the Circular Fibres Initiative will produce, with McKinsey & Co. as knowledge partner, an analysis of the textiles industry, mapping how textiles flow around the global economy, and the externalities that arise from the current system. It will explore what a new, circular economy for textiles - one that is restorative and regenerative – could look like, and lay out the steps needed to build it. The Initiative’s first report is due for publication in autumn 2017. ‘’Our 100% circular vision and our goal to only use recycled or other sustainably sourced materials by 2030 plays a key role in our sustainability agenda. We are aware that our vision means a big change on how fashion is made and enjoyed today and if we want to take the lead in this challenge, collaboration and accelerating innovation and circular systems together with the industry is crucial,” said Anna Gedda, Head of Sustainability, H&M Group. “The Circular Fibers Initiative will define a shared vision for a new global textile system and it will be an important foundation for collaboration to accelerate the journey towards a circular textile industry.”
Source: Innovation
Aiming to boost India's economic and trade engagement with Latin American nations, Commerce Secretary Rita Teaotia is leading a delegation to Ecuador and Colombia from May 15-20. In Ecuador, Teaotia along with other senior government officials, will attend the first meeting of the Joint Economic and Trade Committee (JETCO). The protocol for establishment of the India-Ecuador JETCO was signed in October 2015 in New Delhi with the aim of further improving and strengthening the bilateral trade relationship between the two countries. The delegation comprises senior officials from leading Indian companies from sectors such as pharma, Ayurveda, textile, IT, automobiles, agro-chemicals, railways, telecom etc. The delegation will also participate in an interaction at the JETCO meeting scheduled on May 17 in Guayaquil, Ecuador whereas industry representatives will share a summary of their deliberations held at the seminar on 'India-Ecuador Business Forum' on May 16 at the JETCO meeting. "In the tour's second leg, the delegation accompanying the Commerce Secretary, will arrive in Colombia on May 17 and participate in the Joint Working Group and Joint Meeting of Business Development Cooperation spread over two days," said industry body Ficci, which is coordinating the visit. Colombia has seen huge investments from Indian companies in recent years and is a gateway to other Pacific Alliance grouping markets consisting of Mexico, Chile and Peru.
The Pacific Alliance contributes almost half of Latin American trade and a third of the region's GDP.
Source: Business Line
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$ 51.08 per barrel (bbl) on 15.05.2017. This was higher than the price of US$ 49.55 per bbl on previous publishing day of 12.05.2017. In rupee terms, the price of Indian Basket increased to Rs. 3275.25 per bbl on 15.05.2017 as compared to Rs. 3186.16 per bbl on 12.05.2017. Rupee closed stronger at Rs. 64.12 per US$ on 15.05.2017 as compared to Rs. 64.30 per US$ on 12.05.2017. The table below gives details in this regard:
|
Particulars |
Unit |
Price on May 15, 2017 Previous trading day i.e. 12.05.2017) |
Pricing Fortnight for 16.05.2017 (April 27, 2017 to May 11, 2017) |
|
Crude Oil (Indian Basket) |
($/bbl) |
51.08 (49.55) |
49.22 |
|
(Rs/bbl) |
3275.25 (3186.16) |
3162.88 |
|
|
Exchange Rate |
(Rs/$) |
64.12 (64.30) |
64.26 |
Source: PIB
Rajanna-Sircilla: Powerloom workers called off their strike and resumed duty as the owners of the powerlooms agreed to enhance wages. With this, activity in Sircilla textile industry began on Monday, after a gap of eight days. Workers put an end to their strike as owners agreed to enhance their wages to Rs 1.05 from the present .85 paise per metre of cloth. The hiked wage will be provided to workers from June 1, 2017. In this regard, both owners and workers entered into an agreement. They submitted the agreement copy to the district Collector D Krishna Bhaskar. It may be recalled that powerloom works began indefinite strike on May 8 demanding the implementation of wage agreement decided between workers and powerloom owners in the presence of IT and Municipal Administration Minister K Taraka Rama Rao two years ago. Though weavers of Textile Park called off their strike, workers in Sircilla town continued their protest. Collector, Handlooms and Textile Department officials and other district officers conducted talks with workers and owners to convince them to withdraw strike. Reacting positively to the district administration’s request, they came to an understanding on Monday. Later speaking to media-persons, union leaders thanked KTR, Collector and other officers for taking steps to convince owners to hike wages. The Collector expressed happiness over the workers’ decision to call off strike and thanked owners and workers for responding positively.
Source: TelanganaToday
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1046.97 |
USD/Ton |
0% |
5/15/2017 |
|
VSF |
2227.27 |
USD/Ton |
0% |
5/15/2017 |
|
ASF |
2289.58 |
USD/Ton |
0% |
5/15/2017 |
|
Polyester POY |
1057.84 |
USD/Ton |
0% |
5/15/2017 |
|
Nylon FDY |
2434.49 |
USD/Ton |
-0.59% |
5/15/2017 |
|
40D Spandex |
5332.69 |
USD/Ton |
0% |
5/15/2017 |
|
Polyester DTY |
2680.84 |
USD/Ton |
0% |
5/15/2017 |
|
Nylon POY |
5781.91 |
USD/Ton |
0% |
5/15/2017 |
|
Acrylic Top 3D |
1333.17 |
USD/Ton |
0% |
5/15/2017 |
|
Polyester FDY |
2289.58 |
USD/Ton |
-0.63% |
5/15/2017 |
|
Nylon DTY |
2463.47 |
USD/Ton |
0% |
5/15/2017 |
|
Viscose Long Filament |
1289.70 |
USD/Ton |
0% |
5/15/2017 |
|
30S Spun Rayon Yarn |
2854.73 |
USD/Ton |
-0.51% |
5/15/2017 |
|
32S Polyester Yarn |
1649.08 |
USD/Ton |
-0.18% |
5/15/2017 |
|
45S T/C Yarn |
2680.84 |
USD/Ton |
0% |
5/15/2017 |
|
40S Rayon Yarn |
1811.38 |
USD/Ton |
0% |
5/15/2017 |
|
T/R Yarn 65/35 32S |
2246.11 |
USD/Ton |
0% |
5/15/2017 |
|
45S Polyester Yarn |
3014.13 |
USD/Ton |
0% |
5/15/2017 |
|
T/C Yarn 65/35 32S |
2333.05 |
USD/Ton |
0% |
5/15/2017 |
|
10S Denim Fabric |
1.35 |
USD/Meter |
0% |
5/15/2017 |
|
32S Twill Fabric |
0.85 |
USD/Meter |
0% |
5/15/2017 |
|
40S Combed Poplin |
1.17 |
USD/Meter |
0% |
5/15/2017 |
|
30S Rayon Fabric |
0.65 |
USD/Meter |
-0.22% |
5/15/2017 |
|
45S T/C Fabric |
0.66 |
USD/Meter |
0% |
5/15/2017 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.14491 USD dtd. 15/05/2017) The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
The Russian government plans to place massive orders for the production of technical textiles and nonwovens for use in special clothing, as well as defence sector, during the next several years, according to recent statements of an official spokesman of Viktor Yevtukhov, Russia’s Deputy Minister of Industry and Trade. Currently, special clothing remains probably the most promising segment of the Russian clothing industry, in terms of further growth. In addition, there is an ever-growing demand for innovative solutions, based on nonwovens and technical textiles. At present, the production of special clothing in Russia is on the rise, while, according to official statistics of the Russian Ministry of Industry and Trade, last year the production volume grew by 33%, compared to 2015. This is mainly due to the ongoing process of import substitution in the industry, combined with big state support. According to the government forecasts, the demand for innovative technical textile and nonwoven solutions will continue to grow during the next several years, thanks to the ongoing recovery of the major consuming industries and a large state defence order. In the latter case, the Russian government plans to continue active purchases of technical textiles for the needs of the Russian armed forces during the next several years. Planned purchases should speed up the design of a new generation of military uniform for Russian troops, which was announced by the government several months ago. It is planned that the design of the new uniform will be carried by Russia’s leading special clothing producers, in cooperation with local research institutions. Currently, the segment of special clothing has big potential for further growth. According to the latest statistics of the Russian Ministry of Industry and Trade, the average annual per capita expenses on employees in Russia is estimated at only US$ 100, compared to US$ 350-400 in the case of the EU states. A significant part of this is allocated for the provision of workers with special clothing, produced on the basis of innovative materials. According to Yevtukhov, the demand for new uniforms, based on innovative technical textile applications, will be also driven by the ever-strengthening labour protection standards and tightening state regulations. It is expected that the Russian army will not be the only consumer of the new types of uniforms, as the same materials will also be used for the design of clothing for the national special services, which are in acute need, as the number of special services officers has almost doubled in the last several years. According to the Russian Ministry of Industry and Trade, in addition to military forces, domestic special services are currently considered as another major consumer of clothing, produced on the basis of innovative materials, in Russia. Finally, the demand for modern clothing and uniforms should grow significantly from leading Russian state and industrial corporations, such as Rosneft, Gazprom and others, providing additional orders for producers. Overall, according to Yevtukhov, the Russian market of special clothing could reach 200 billion rubles (US$ 3,5 billion) during the next several years, however, that will mainly depend on the ability of domestic technical textiles and nonwovens producers to ensure stable supplies and the overall business environment in Russia. The Russian government says it is ready to offer the domestic nonwovens and technical textiles producers stable long-term orders for the manufacture of their products. It is also considering providing additional subsidies to enable producers to pursue further development and production expansion. Currently, the majority of Russian technical textiles and nonwovens producers still experience a shortage of funds, however, due to the existing sanctions’ regime, cheap Western loans still remain unavailable. Producers were specifically relying on loans provided by the European Bank of Reconstruction and Development (EBRD), which used to be one of the biggest lenders in the Russian technical textiles sector. But the organisation recently announced it decided not to resume its investment activities in Russia. At the same time, the idea of the Russian government to replace the EU and the US funding by Chinese loans also failed, as the conditions of lending, offered by Chinese bank and financial corporations, were considered by the majority of Russian producers as unacceptable and enslaving. Many Russian producers also fear the repetition of the situation that happened in the neighbouring Kazakhstan, when the influx of Chinese capital several years ago had resulted in the shift of the majority of Kazakh textiles and technical textiles enterprises under the control of Chinese businesses, including those that had strategical importance for the Kazakh economy. Due to this, state orders are currently considered as main survival means for Russian technical textiles producers, as well as global enterprises, operating in the country. In the latter case, the government has already announced its plans to create conditions for the attraction of major technical textiles and nonwovens producers to establish and expand their already existing facilities in Russia. As part of this, the government plans to make additional proposals to foreign investors doing business in Russia. This will take place during the forthcoming St. Petersburg Economical Forum, which is will be held from 1-3 June.
Source: Innovation in Textiles
The Cotton Council International (CCI), the global marketing arm of the US cotton industry, promoting cotton fibre, fabric, and fashion, has announced that key textile executives from nine Korean companies participated in the COTTON USA Special Trade Mission (STM), which toured the US Cotton Belt, a region of the Southern US, from April 17 to 22, 2017. The textile executives observed US cotton production, processing, and marketing and met with US cotton exporters. The STM was an opportunity to provide the nine Korean companies with a better understanding of the US cotton industry and to encourage business relationships with the intention of increasing exports of US cotton in the future. Do Hyung Lee of Taihan Textile said, “The Special Trade Mission gave us a great opportunity to be assured of the excellent quality of US cotton. After this tour, our company will continue to source primarily from the US.” The Korean delegation began its tour in New York City with a seminar at ICE Futures. They then travelled to the Cotton Belt’s four major growing regions and met with members of industry organisations including, Cotton Incorporated, the National Cotton Council, USDA, Supima, as well as merchants, cooperatives, and producers in each region. Korea currently ranks as the sixth largest US cotton importer. The nine Korean companies who participated represented 80 per cent of Korea’s total cotton consumption and US market share with these companies is currently estimated at 53 per cent. It is also important to note that many Korean textile mills also have textile investments outside of Korea, primarily in Vietnam. Those spinning mills in Vietnam are estimated to consume 1,66,000 additional bales of US cotton this year.
Source: Fibre2fashion
BOBINGEN, Germany Leading European fiber manufacturer Trevira GmbH has become a wholly owned subsidiary of Thailand-based Indorama Ventures PCL Group (IVL). IVL has consolidated its ownership by acquiring the remaining 25-percent shareholding of Trevira from its earlier joint venture partner Sinterama S.p.A. “Trevira with its renowned brand is an integral part within our specialty portfolio strategy”, explains Uday Gill, CEO of IVL’s Fibres Business. “We see further growth potential especially in the hygiene and automotive segments, as well as in the high-end home textiles business.” For Trevira CEO Klaus Holz the takeover of the remaining Sinterama share is just the last consequent step which documents the long-term commitment of the parent company. “For Trevira and its customers and suppliers, this consolidation reflects Indorama Ventures’ commitment to investing in the company and ensuring a continued strong and reliable partnership,” said Holz. “IVL has supported us from the very beginning in all our activities and has integrated us in its global network. We cooperate in joint projects and benefit significantly from the synergies within the IVL group. We would like to thank the Sinterama team for their ongoing support in ensuring a seamless transition.”
Source: Textile World
Sanjay Janghala walks across a humming factory floor as 400 employees of Orient Craft Ltd stitch together women’s blouses and embroidered dresses. “That’s for Ann Taylor, that’s for Gap,” said Janghala, the factory head, before stopping to pick up a white dress. “This is for J. Crew. This is all value added. This is all cut by hand.” This factory outside of New Delhi is just one of Orient Craft’s 26 facilities in India, which together export nearly 250,000 pieces of clothing a day — more than 60 per cent of which flow to the US. Annual revenues at the closely held company have grown steadily to more than $300 million (Dh1.1 billion). It’s just one example of how Asia’s export engines are motoring again. Buoyed by US and European demand, shipments of everything from South Korean cars to Indian t-shirts have pushed exports from Asia to their highest levels to multi-year highs. Sleek smart-phone upgrades planned by Apple and Samsung are also helping as Chinese manufacturers hoover up components from around the region to build the handsets. The trade rebound is happening amid worries over rising protectionism and a still fragile outlook for the world economy that raises the question: how long can the good times last. Asia’s exporters are in the cross hairs of US President Donald Trump’s vow to boost US jobs by reducing imports. Of the 16 countries facing scrutiny from Trump’s 90-day review of possible “trade abuse”, more than half are in Asia with the biggest bilateral trade surpluses chalked up in the region by China, Japan, Vietnam and South Korea. China’s easily ranked as the largest at $327 billion in 2016. Although Trump has reined in some of his criticism of trading partners, the threat of heightened trade tensions hasn’t gone away. “Our base case is that this is going to be a bigger issue next year than this year, especially between the US and China,” said Rob Subbaraman, chief economist for Asia ex-Japan at Nomura in Singapore. Orient Craft, the Indian garment exporter, is among those watching developments carefully. Sudhir Dhingra, who founded the firm in 1972, has seen his exports to the US grow to $181 million in 2016 from $129 million in 2012, according to figures supplied by the company. But with Trump and Brexit darkening the global prospects of freer trade, Dhingra said he expects countries to pursue simpler bilateral deals than grand regional free trade agreements as politicians realize that bringing jobs back home to high-cost labour markets isn’t so simple. “The US under Trump could impose some additional duties, that’s a worry,” Dhingra said. However, “people will find out that you can’t move everything back home. People won’t pay those prices.” Other worries include signs that China’s economy may be slowing as authorities clamp down on excessive credit, meaning demand for commodities will soften and hurt producers such as Australia and Indonesia. Some cooling in the US economy is also weighing sentiment. For Asia, exports matter. The region is the world economy’s fastest growing economy — accounting for around 30 per cent of global growth — and one that relies heavily on trade.
Source: Gulg News
GARMENT DISTRICT — A newly-formed committee will bring city officials and Garment District “stakeholders” together to revamp a proposed zoning plan that critics have argued could “devastate” the industry. Manhattan Borough President Gale Brewer, Councilman Corey Johnson and the city’s Deputy Mayor Alicia Glen have formed a “Garment Industry Steering Committee” that will devise a plan to “ensure sufficient long-term space” for manufacturers, the three said in a release. Brewer plans to chair the committee, the release noted. “Our committee will gather experts and representatives from all major stakeholders — manufacturers, labor, designers, and more — to examine the data, hear from everyone and achieve consensus,” Brewer said in a statement. “The bottom line is that we already agree on a lot, and there’s a little more homework we need to do,” she added. The committee will operate much like the East Midtown Steering Committee, a spokesman for Brewer wrote in an email. Though its meetings won’t be public, the recommendations it comes up with will be, he added. In March, the city publicly introduced plans to eliminate a rule that requires building owners to preserve space for manufacturing in the Special Garment Center District and provide incentives for manufacturers willing to relocate to Sunset Park in Brooklyn. Critics of the proposal have argued it would dismantle an industry that’s already “on the brink of collapse.” The committee will spend three months addressing stakeholder concerns, Brewer’s release said. The Department of City Planning plans to kick of its zoning change review process on Aug. 21, after it has heard the committee’s recommendations, the release added.
Source: DNA info
