NEW DELHI: India is looking to expand its paltry 1.24% share of the Japanese textile market by getting its government to pitch in and help Indian exporters by improving the testing standards and better understanding the requirements of their customers. Kick-starting the initiative, the Centre held a workshop in association with Japanese quality regulator QTEC. The idea, said Subrata Gupta, joint secretary in the textiles ministry, was to change the "mindset" and "enhance" the quantum of textiles exports to Japan. Japan is a major textile importing country with almost 97% of their textile requirement being sourced through imports mainly from China (62.11%), Vietnam (10.56%), Indonesia (4.12%) and Bangladesh (2.76%). India accounts for just 1.24%. The association with QTEC is important in view of the fact that India's exports have been going down compared to countries like Bangladesh and Vietnam. For instance, it could only notch up $40 billion in revenues from textile exports as against a target of $47.5 billion set in 2015-16. The association with QTEC is expected to not only expose Indian exporters to quality expectations from Japanese buyers but also help the textile ministry give a push to overall exports. "This is the first of many other measures we plan to increase exports to Japan, which is one of the major textile importing countries. It's a market which has tremendous potential for India," said Ajit B Chavan, secretary, textiles committee. Asked whether the Chinese presence was likely to be an obstacle, Chavan said that once the Indian exporters understood the requirements of the Japanese market, "wresting" a part of the market from competitors would not be difficult. The MoU with Japanese Textile Products Quality and Technology Centre (QTEC) was signed in November last year, during the visit of PMNarendra Modi to Japan. Equipped with CCTV cameras, smoke and fire detection system, the 19-coach Tejas train will have biovacuum toilets and GPSbased passenger information display system. Unlike the Shatabdi Express, passengers will have the option to opt for onboard food. There will be comfortable seating arrangements and each seat will have LED TV with touch control system and call bell facilities. "There will be tea and coffee vending machines and snack tables at each coach as catering facility for passengers in the new designed coaches," said an official, adding that there will be magazines, snacks tables, LCD screens, and wi-fi. In a first in non-suburban train service in railways, the coaches manufactured at the Rail Coach Factory in Kapurthala, will have automatic entrance door. Tejas Express will also be pressed into service in Delhi-Chandigarh and Delhi-Lucknow sectors.
Source: TNN
The delegation also held discussion with Odisha government officials on the possibility of making investments in a new textile park near Bhubaneswar. The delegation, led by Tirupur Exporters Association (TEA), visited Ramdaspur, where park is being set up and observed the facilities. It visited a 300-acre parcel of land that the state's industrial corporation has earmarked for industrial use, of which 70 acres has been allocated to the textile park. The Central and state governments provide 60 per cent subsidy on building and common facilities under the Scheme for Integrated Textile Parks (SITP), 25 per cent subsidy for new machinery, Rs 1 crore interest free working capital loan. The state government has stipulated a minimum wage Rs 220 for an eight-hour shift and has schemes to provide employment to new workers as well. Export units from the tiny town of Tirupur do business worth about Rs 35,000 crore every year. T R Vijayakumar, General Secretary, Tirupur Exporters Association said that ten companies can join hands to start a textile park in Odisha state. He further said the delegation had been to four places and analysed opportunities to set up skill training centres in government buildings and that trained workforce from Odisha can be brought to Tirupur to employ them in the units. He said more than 50,000 workers from Odisha have been already employed in Tirupur.
Source: Business-Standard
NEW DELHI: Commerce minister Nirmala Sitharaman said on Saturday that the rollout of the Goods and Services Tax (GST) will help improve exports and assured exporters that they would get their tax refunds within 6 to 10 days under the new regime. "I feel the GST is only going to help in improving our exports and also since the input credits have been very well worked out the inputs for exporters is going to cost less and they are going to be far more competitive. Exports are zero rated will be refunded. There will be an ease of refund in the system," Sitharaman told a news conference where she detailed the performance of her ministry during the Narendra Modi government. "On the refund, we are very very clear that 90% of the advanced money (paid by exporters in the GST regime) will be refunded within 6 to 10 days, after which an interest of about 6% will be given for any delay by the government to exporters," she said. Sitharaman also said her ministry had requested the GST Council to devise an alternative system of refunds for small and medium enterprises instead of asking them to pay first and then claim the refund. She said the export performance in the past few months have been encouraging and asserted that it would be sustained in the months ahead. "Notwithstanding the global headwinds, our exporters have really performed. Some of the sectors have withstood the headwinds and performed consistently in the last six months and maintained the upward trend. Our exports are living up to expectations," she said adding that schemes devised by the ministry had helped arrest the decline. She said the upward trend in exports was sustainable. Exports rose 5% to reach $276 billion in 2016-17 and in the past few months had reversed the declining trend. Commenting on the concern of exporters over the appreciation of the rupee, Sitharaman said they are fairly seized of this. "Currency fluctuation has become a new normal." "But, if there are extreme fluctuations, it is for the RBI to look at intervening just that much, so that, any extreme fluctuations are taken care of," she said adding that the value of the rupee was market determined.
Source: Times of India
Handloom and handicraft, being a traditional activity has potential for employment generation and to provide livelihood to rural masses. To promote and develop the vibrant traditional handloom and handicraft products, the Nagaland Handloom and Handicraft Development Corporation Ltd (NHHDC) was set up in the year 1979. NHHDC engages in the production promotion and marketing of handloom and handicraft products. According to Nagaland Economic Survey 2016-17, NHHDC invested an amount of Rs 0.06 crore for procurement of raw materials for its production centre with total turnover of Rs 0.13 crore lakhs during 2015-16. The Corporation also invested in procuring finished products from registered production units, the sale proceeds of which was Rs 0.36 crore during 2015-16. The survey report stated that under the National Handloom Development Programme (NHDP), the Government of India has sanctioned Rs. 3.21 crore for five blocks level cluster development. Common work shed has been constructed in all five blocks with complete set of 20 looms each in three clusters during 2016-17. An Apparel and Garment Making Centre has also been established at Dimapur. The centre has three units where 100 machines each are installed for manufacturing and skilling. Two units have already started production and skilling activities. Further, to promote and develop the age old practice of cane, bamboo and wood based handicraft products, the state government with support from GoI under North East Region Textile Promotion Scheme (NERTPS) is implementing cluster based development in six clusters. It include: Pfutsero (Phek district), Lungwa (Mon district), Ghathashi (Zunheboto district), Longleng (Longleng district), Jalukie (Peren district) and Tuli (Mokokchung district).
Source: Morung Express.com
Alternative crops raised last year leave a bitter experience due to lack of price As the kharif season of cultivation is approaching, the farming community in Telangana is doing a serious rethink on taking up cotton again since the alternative crops raised during 2016-17 agriculture year have left a bitter experience due to lack of remunerative price to pulses, maize, soyabean, chilli, turmeric and other crops. Plunge in price The alternative crops were raised on a large-scale by the farming community after opting out of cotton crop following a campaign taken up by the State Government suggesting them to reduce cultivation of cotton as much as possible, citing a plunge in its prices during the previous year. Accordingly, cultivation of cotton was restricted to 14.1 lakh hectares from about 17 lakh hectares in the previous five years. Suitable weather condition “With the help of suitable weather conditions the yield and production of all the alternative crops was very high in the just-concluded agriculture year but the market dynamics have kept their prices low causing a lot of heartburn among the farmers. The recent incidents linked to red chilli are a result of the farmers’ anger against the trader-dominated marketing system which saw price crash”, a senior official of the Agriculture Department admitted. Further to the farmers woes, there was no backing of the minimum support price policy for crops such as chilli and turmeric since they are commercial crops and had very good price in the market in the previous year. The fate of maize, soyabean and redgram and other pulses, in spite of having the MSP, also faced similar fate due to increased cultivation and production. Mainstay Cultivation of cotton has been the mainstay of Kharif farming in the State in the recent years as it comprised a minimum of 40% of the total sown area. “In spite of high cost of cultivation we have been raising cotton in the recent years as it gives us minimum assurance on production and price”, Ramappa, a farmer near Hatnoor of Nyalkal mandal in Sangareddy district explained adding that the crop has the capacity to withstand drys pells and rejuvenating after a good spell of rain later. A large number of farmers across Telangana opted out of cotton in 2016-17 with the hope that they could overcome the losses being suffered in cotton since the prices of pulses ruled well in the recent years. “I have cultivated soyabean with redgram as inter-crop in the last kharif and got good yield. However, poor price for the crops have forced me to consider cultivating cotton again in the coming season as the prices of the fibre crop were very good”, felt another farmer Ramulu near Choutkoor in Pulkal mandal.
Source: The Hindu
It is welcome that the GST Council has finalised the rates of the new tax for most goods and services. They must quickly finalise the rest and publish them, along with the rules, to enable companies to prepare their accounting systems to roll out the new tax at the earliest. The government must be prepared to tweak the rates and procedures, depending on how things work out as the tax is implemented. While most rates on goods and services are fine, some are not. A 5% levy on newsprint will hurt the vital newspaper industry. The 18% GST on financial services and 28% on detergents are excessive. Financial services should come under the Integrated GST to ease compliance. The 1% tax at source that ecommerce is obliged to collect is a needless burden on the fledgling industry and consumers. India’s final goods and services tax design has four rates for goods and services, plus cesses, but excludes petroleum, electricity, real estate (except in the case of brave Jammu and Kashmir) and alcohol. It was logical to fix the rates — 5%, 12%, 18% and 28% — on services in sync with goods. That most goods and services will attract the standard18% GST is welcome. The sale of, say, a car would attract the same rate as leasing a car, and this makes sense. The exempt goods include primary produce such as cereals and milk. However, status quo has been maintained on most exempt services that include education and healthcare. The case to expand the net and minimise exemptions is compelling, given that services contribute to a lion’s share of the economy, but service tax revenues now account for just 1.6% of GDP.The same rate of tax on all goods under a six-digit harmonised system of nomenclature (HSN) code will reduce category confusion and disputes. All cars, for example, will attract 28% rate, with a varying cess component that would not be eligible for input tax credit. This will keep the GST chain unbroken and allow manufacturers to claim credit paid on the taxes used to make the final product. Similarly, a lower rate for goods transport is in order as fuel has been excluded from GST.
Source: Economic Times
The Goods and Services Tax (GST) Council, the apex decisionmaking body for the new federal indirect tax system, held a twoday summit meeting in Srinagar, at which most tax rates under the new regime were decided. A few particularly contentious items, including gold and textiles, were postponed to another meeting to be held in early June. Time is short, as the government has determined the GST will be rolled out starting July 1, and it is therefore welcome that so much progress has been made. For the first time, there is some understanding of the burden of the new tax. The most crucial macro-economic question that needed to be answered was the impact of the GST on prices, the headline inflation rate — and thus on the Reserve Bank of India’s future decision-making regarding interest rates. As several senior officials have pointed out, although many services will see an increase in tax incidence from 15 per cent to 18 per cent, it is also true that the ability to receive credit against expenses on goods consumed in the provision of those services will — in theory — reduce the effective tax rate on service providers. Thus, any inflationary effect of increased rates will be moderated. Also playing a role in how the GST will pan out is the composition of the consumer price index, or CPI, the variable that the RBI now targets when setting monetary policy. Under the freshly decided tax rates, many major components of the CPI will receive tax exemption or see their rates reduced. For example, foodgrain, cereals, and milk are exempt from the GST; currently several states have levies on foodgrain. Sugar, tea, and edible oil will be taxed at only 5 per cent. Overall, it appears that this set of tax rates has been chosen with a view to ensuring that the effect on headline inflation will be benign. In fact, many now hope the GST will in fact reduce inflation in the short to medium term; a secretary in the finance ministry has suggested it may even go down by 2 percentage points, though it is not clear precisely how. It was previously feared that the GST would instead increase consumer price inflation in the adjustment period. If the effect on prices is indeed benign, then there will be space for the RBI to revisit its assumptions about the future path of inflation, and thus to re-examine its current monetary policy stance. That said, the possibility of a benign macro-economic effect has been bought at a high price. While the GST Council deserves praise for clubbing a majority of the items within the 12 per cent and 18 per cent slabs, the fivetiered tax structure (when the exempt items are included) is too complex, and can lead to litigation and implementation problems. For services in particular, multiple tax rates for similar services — sometimes being provided by the same organisation — will be a compliance nightmare, and give excessive discretionary powers to the taxman to question returns. The government will have to work swiftly to iron out these implementation questions, and to ensure the GST Network is ready for a July 1 roll-out. Meanwhile, the focus now shifts to industry, which has just a few short weeks to prepare for this comprehensive change in taxation.
Source: Business Standard
GST Council is trying to ensure businesses pass on to consumers any tax benefit accruing from GST rates that were finalized during the Srinagar meeting .The GST Council has to recommend to the government whether a separate authority is needed or CCI could be authorized to ensure any tax benefits accruing from GST rates are passed on to consumers. Photo: PTI New Delhi: After having fixed the rates of the goods and services tax (GST) on almost all commodities and services, the powerful federal tax body GST Council is trying to ensure that businesses pass on any tax reduction benefit to consumers when the new indirect tax regime comes into force on 1 July. The most important issue related to the implementation of GST is whether the tax cuts will be passed on to consumers, Kerala finance minister Thomas Isaac said, adding that the council, which debated it prior to bringing in the anti-profiteering clause in GST law, will discuss this matter further. “Union finance minister Arun Jaitley has assured that we may even have a special session (of the council) on this. It is noteworthy that no industry has come forward and said maximum retail prices will be reduced in line with tax reduction,” Isaac said in an interview. For the government, which insists that GST rates are not inflationary, it is essential for consumers to feel a cooling of prices to make the most radical tax reform since Independence politically acceptable. The GST Council has to recommend to the government whether a separate authority is needed or the Competition Commission of India (CCI) could be authorized to ensure that the reduced tax incidence on commodities has resulted in corresponding price cuts. Revenue secretary Hasmukh Adhia had told reporters after the two-day meeting of the council in Srinagar that even if the anti-profiteering mechanism is set up three months from now, it will have the power to question corporate behaviour since the finalization of GST rates. Competition law experts doubted whether CCI would get into price regulation. They say the anti-profiteering clause in the Central GST Act is a “political message”. The GST rate on a large section of services will fall into the 18% slab, which is three percentage points more than what is levied now, but both Jaitley and Adhia clarified last week that the efficiency in GST that eliminates the cascading or tax-on-tax effect of the current system will reduce the effective incidence of tax on services to a level much lower than the “headline” rate of 18%. The government believes the same will apply to goods as well. According to consulting firm EY, the proposed GST rates imply reduction in tax incidence on items like mobile phones, processed food, energy drinks, contact lenses and utensils, while there is an increase in the case of items such as watches, air conditioners, washing machines and perfumes. CCI, like other antitrust regulators worldwide, mostly regulates corporate behaviour such as cartelization and abuse of dominance and leaves pricing to be determined by the market, intervening only if the market is distorted, explained Subodh Prasad Deo, a partner at law firm Saikrishna and Associates and a former additional director general at CCI. Actual price regulation is limited to sectors such as power and pharmaceuticals. A part of the pharmaceutical industry is regulated under the Essential Commodities Act. CCI’s mandate to look into unfair pricing is in the limited context of a dominant market player imposing unfair conditions on pricing. “Prices are not regulated, least of all by competition authorities as it is generally determined by the market. Competition regulators are reluctant to get into the issue of unfair pricing as they do not have a yardstick to determine what a fair price would be,” said Deo. In the market economy, what is seen is that prices are determined by the top players, said Kerala finance minister Isaac. “The state is reducing taxes on the condition that the benefit may be transferred to consumers. If businesses do not respond, the government has to intervene,” he said. Jammu and Kashmir finance minister Haseeb Drabu, who hosted the 14th meeting of the GST Council in Srinagar last week, also said that the most important GST implementation issue is making sure that the benefit of tax reduction reaches consumers.
Source: LiveMint
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$ 52.30 per barrel (bbl) on 19.05.2017. This was higher than the price of US$ 51.28 per bbl on previous publishing day of 18.05.2017. In rupee terms, the price of Indian Basket increased to Rs. 3399.00 per bbl on 19.05.2017 as compared to Rs. 3299.35 per bbl on 18.05.2017. Rupee closed weaker at Rs. 64.99 per US$ on 19.05.2017 as compared to Rs. 64.34 per US$ on 18.05.2017. The table below gives details in this regard:
|
Particulars |
Unit |
Price on May 19, 2017 Previous trading day i.e. 18.05.2017) |
Pricing Fortnight for 16.05.2017 (April 27, 2017 to May 11, 2017) |
|
Crude Oil (Indian Basket) |
($/bbl) |
52.30 (51.28) |
49.22 |
|
(Rs/bbl) |
3399.00 (3299.35) |
3162.88 |
|
|
Exchange Rate |
(Rs/$) |
64.99 (64.34) |
64.26 |
Source: PIB
AHMEDABAD: Touted as among the richest villages in India, Madhapar, Baladia, and Kera in Kutch draw a large chunk of bank deposits from its residents settled in Africa. Some of the top construction, sugar, and cement companies in Africa are owned by Gujaratis, mainly from Kutch and Saurashtra regions. This testifies to strong business links that Africa and Gujarat have enjoyed for decades. The African continent is a major market for pharmaceuticals, textiles, agriculture produce, ceramics, plastics, spices, agri-equipment, and auto parts to name a few. On the other hand, Gujarat imports pulses, sesame, and timber in large volumes from Africa. Rough diamonds mined in Africa are cut and polished in Surat, India's diamond city. "Pharma exports from Gujarat to African countries is around Rs 8,000 crore and it is growing at 8%-10% annually," said Chirag Doshi, former chairman of the Indian Drug Manufacturers' Association, Gujarat. For mid-sized companies, penetrating European and American markets is tough and therefore African and Latin American countries are ideal destinations for exports. Government data shows that Gujarat exported wheat, groundnut, fruits, onions, dairy products, among others, worth Rs 1,190 crore to Africa during the April-February period in the 2017 fiscal, while African nations exported wood and articles of wood worth Rs 1,186 crore to India during the same period. Kutch accounts for 70% of these imports. "A host of Gujaratis who have settled in African countries are major exporters of pulses. In fact, a huge amount of these exports are sent to India," said Rajiv Vastupal, chairman, Gujarat state, FICCI. African Development Bank officials believe that there is ample scope for Gujarat-based players in power, infrastructure, services, agriculture, automobiles, and food processing sectors in Africa. Corporate houses have started looking at Africa for setting up manufacturing plants. Arvind Ltd established a garment-making plant, producing 3 million pieces, in Ethiopia last year. Apart from a 10-year tax holiday, duty-free access to the US, Europe, and 12 other countries have attracted the Ahmedabad-based textile-to-apparel giant to Ethiopia, which has a manufacturing facility of Cadila Pharmaceuticals as well. Sanghi Industries Ltd's promoters are also mulling investments in Africa. However, raising debt in local currency as well as the volatility in some African currencies are seen as deterrents by the industry. Tourism is yet another sector where there is great synergy between Gujarat and Africa. According to Manish Sharma, a tour operator, around 30,000 people from Gujarat visit popular destinations such as South Africa and Nigeria every year. "Hundreds of farmers from Saurashtra have taken up agriculture in Africa," said Parag Tejura, president, Saurashtra Vepari Udyog Mahamandal, which has been organizing Africa trade show for the past three years. "Exports and imports of agricultural produce and commodities are significant between the regions."
Source: Times of India
Rahul Jain’s ‘Machines’ is set in a textile factory in Gujarat. Here, the body takes centre stage. (Machines/DogWoof I have spent the last decade researching the global textile and garment industries and the harshness of the sweatshop regime they shape for millions of workers worldwide. While researching my book, I followed the clothing production line across the whole Indian subcontinent. I met a very diverse army of labourers: male migrants endlessly circulating between factories and villages; young women commuting daily to the factory gates; children and youths facing a life of toil in home-based workshops. Despite their diversity, India’s garment workers share a similar fate. All trapped inside the sweatshop regime, their own bodies are turned into commodities – yet another crucial input of production, like threads and cloth. One image above all captures the working poverty of sweatshops for me: Amelia Peláez’s painting La Costurera, which can be admired at the Malba museum in Buenos Aires. It is a simple sketch of a woman in the act of stitching. Crucially, the bundle of cloth she is using is her own body. In the act of toiling, she is also “manufacturing” herself into a worker. Peláez powerfully reminds us what is at the very centre of production: the body, which, as the feminist Silvia Federici reminds us, is the first ever machine invented by capitalism. Indeed, in labour-intensive manufacturing industries such as those of textiles and garments, the body is the first machine used, and also the first machine depleted, and relentlessly so, by the process of production. This is why I enjoyed watching the documentary by Rahul Jain so much. Machines is set in a textile factory in Surat. In Jain’s vision of the textile factory, the body takes centre stage. Machines (2017). Workers’ bodies – always on the move like well-behaved, docile bees building their hive – are the heart, soul and sound of Jain’s factory. They create the soundtrack of labouring, which merges with the steady rhythmic pace of the machines, and that of cloth endlessly pouring from the press. Jain perfectly captures the image and tone of labour-intensity with close-ups of exhausted workers subjected to thankless 12-hour shifts. We often see them struggling to remain awake. They are all male migrants – no women feature in the documentary – who need to leave their villages and farms to survive. Our own last project report on the garment industry completed last year indicates that 12- to 16-hour shifts are the norm in the sector for this type of worker. Rahul Jain's Machines. Photo credit: Dogwoof Relentless harassment There are many misunderstandings about poverty. People are not poor because they are excluded from the processes of production. They are poor because of the ways in which production absorbs them, literally sucking their labour out of their limbs. The poor cannot afford to sit idle. As one worker interviewed by Jain puts it: “poverty is harassment”. Poor working conditions – long working shifts, sleep deprivation, exposure to toxic substances, cloth particles and smoke, matched with meagre and discontinuous salaries (all touched upon in this documentary) – constantly harass the poor inside the factory. And this constant harassment that accompanies working poverty is often enabled by violence. Unions are powerless because employers are swift in targeting union leaders. The unions are often quickly retrenched. Eventually, workers may also be exposed to physical violence. Undoubtedly, India’s textile industry has a long history of violence against trade unionists. In 1997, over ten years after heading Bombay’s legendary textile mills strike, Dutta Samant, the workers’ leader, was gunned down by contract killers outside his house. Rahul Jain's Machines. Photo credit: Dogwoof If unions have little power over workers, who are too scared and poor to fight for their rights, labour contractors are their undisputed masters. They not only have the power to choose the workers’ destiny by brokering their labour from villages to textile factories, but they are also the workers’ lenders of last resort, providing advances in cash. The contractor interviewed by Jain for Machines knows this all too well. He knows he is the workers’ real boss. On the other hand, workers have no idea who owns the factory – who the “actual” boss is. In the words of another worker interviewed by Jain: “I don’t even know who the boss is, what he does (…) I know my section, I know my room, that’s it.” Much of the textile and garment industry in India is characterised by such “triangular labour relations”, where intermediaries interrupt any relationship between workers and factory owners. Industrial violence In the age of global capitalism and the attendant questions of labour conditions and rights, we can learn an awful lot from this documentary. A particular issue is that current debates are often framed around ideas of modern-day slavery. This language is misleading. It suggests extreme forms of exploitation may be something new and exceptional. This is hardly the case. First, the intensity of exploitation experienced by workers is nothing new, in India’s textile factories or elsewhere. Workers’ harsh subjugation to the rhythms of production is timeless. The violence they endured has crossed space, time and generations, from the early development of Britain’s “dark satanic mills”. For instance, in Jain’s factory, the presence of child labour is not a one-off violation of labour regulations. Rather, growing up in the factory is part and parcel of the workers’ industrial life. Rahul Jain's Machines. Photo credit: Dogwoof Second, this type of exploitation is hardly exceptional. After the fourth anniversary of the Rana Plaza tragedy, we should remind ourselves once more how this terrible disaster was not the outcome of exceptional circumstances. It was driven by the normal pace of an industry systematically unable to guarantee decent working conditions for its workforce. Exhaustion, as well as the constant, inexorable depletion of the labouring body, is a fundamental aspect of factory life for millions of working poor worldwide, even in the absence of major industrial disasters. Rahul Jain’s Machines shows us the restless movements leading to that process of exhaustion; their repetitive sounds, dark colours, and the fading hopes of India’s proletariat.
Source: thereel.scroll.in
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1078.41 |
USD/Ton |
0% |
5/21/2017 |
|
VSF |
2200.39 |
USD/Ton |
0% |
5/21/2017 |
|
ASF |
2294.79 |
USD/Ton |
0% |
5/21/2017 |
|
Polyester POY |
1074.78 |
USD/Ton |
0% |
5/21/2017 |
|
Nylon FDY |
2440.03 |
USD/Ton |
0% |
5/21/2017 |
|
40D Spandex |
5344.83 |
USD/Ton |
0% |
5/21/2017 |
|
Polyester DTY |
5780.55 |
USD/Ton |
0% |
5/21/2017 |
|
Nylon POY |
1336.21 |
USD/Ton |
0% |
5/21/2017 |
|
Acrylic Top 3D |
2294.79 |
USD/Ton |
0% |
5/21/2017 |
|
Polyester FDY |
2469.08 |
USD/Ton |
0% |
5/21/2017 |
|
Nylon DTY |
1292.64 |
USD/Ton |
0% |
5/21/2017 |
|
Viscose Long Filament |
2686.94 |
USD/Ton |
0% |
5/21/2017 |
|
30S Spun Rayon Yarn |
2832.18 |
USD/Ton |
-0.51% |
5/21/2017 |
|
32S Polyester Yarn |
1670.26 |
USD/Ton |
0.61% |
5/21/2017 |
|
45S T/C Yarn |
2686.94 |
USD/Ton |
0% |
5/21/2017 |
|
40S Rayon Yarn |
3006.47 |
USD/Ton |
0% |
5/21/2017 |
|
T/R Yarn 65/35 32S |
2323.84 |
USD/Ton |
-0.62% |
5/21/2017 |
|
45S Polyester Yarn |
1800.98 |
USD/Ton |
0% |
5/21/2017 |
|
T/C Yarn 65/35 32S |
2251.22 |
USD/Ton |
0% |
5/21/2017 |
|
10S Denim Fabric |
1.35 |
USD/Meter |
0% |
5/21/2017 |
|
32S Twill Fabric |
0.85 |
USD/Meter |
0% |
5/21/2017 |
|
40S Combed Poplin |
1.17 |
USD/Meter |
-0.12% |
5/21/2017 |
|
30S Rayon Fabric |
0.65 |
USD/Meter |
-0.22% |
5/21/2017 |
|
45S T/C Fabric |
0.67 |
USD/Meter |
0% |
5/21/2017 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.14524 USD dtd. 21/05/2017) The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness
BEIJING － The Bamyan province in central Afghanistan not long ago had the rare opportunity to witness the world's tallest standing Buddha. In June 2015, a visiting Chinese couple successfully projected it in the Bamyan Valley, utilizing image projection technology, in the process winning cheers from the local people. It was a symbolic moment, linking the past with the future in a part of the world rich in history and which is on the verge of massive economic change due to a cooperative idea. Once a prosperous town in Afghanistan in the pre-war period some three and a half decades ago, Bamyan has a strategic location as a major town straddling the ancient Silk Road. To promote common development and prosperity, China proposed the Belt and Road Initiative in 2013, which comprises the Silk Road Economic Belt and the 21st Century Maritime Silk Road. Since the implementation of the initiative, China, through technological innovation, has brought tangible benefits to economies along the routes. In Kyrgyzstan, China's high-tech seeds and agricultural technology and skills have helped local families lead a better life. Sherba Kalimovich, the breadwinner of a big Kyrgyz family, had a harvest several times better than previous years when he began to grow corn with high-tech seeds developed by China. The Kyrgyz farmer plant the Zheng 1002 and Zheng Huangnuo No 2 corn seeds developed by China's Henan Academy of Agricultural Sciences and successfully bred in an industrial zone, which was developed by Henan Guiyou Industrial Group in 2011 within the framework of the Belt and Road Initiative. Kalimovich said his cornfield used to produce four metric tons per hectare with the old seeds, and now it produces 10 tons. He added that seed quality is no longer a problem. In 2014, to answer the call of the Belt and Road Initiative and Go Out policy, China's Zhongtai Group and Xinjiang Production and Construction Corps, with strong support from the Tajik government, jointly started the construction of the Zhongtai New Silk Road Agriculture and Textile Industrial Park in Tajikistan's Dangara Basin. After just over three years, the industrial park has transformed from blueprint to reality. Three Chinese agricultural and textile companies have entered the park, bringing total investment of 1.1 billion RMB ($160 million) and a whole industry chain of cotton plantation, processing and selling. The park has enabled the two sides to complement each other. Tajikistan's Dangara Basin enjoys a big temperature difference between day and night, thus local cotton boasts a high quality of thin fiber, high strength and low sugar levels. However, due to backward plantation technologies and aging agricultural machinery, local cotton growing largely relies on nature which leads to very low production. Chinese companies, on the other hand, possess advanced cotton growing technologies, delicate textile processing skills and rich capital. China's technological innovation not only improves the daily life of local people', but is also changing their traditional ways of thinking. Mitet Zhumabaev, a resident of Kazakhstan's largest city Almaty, has become used to shopping online in his country, thanks to China's AliExpress. That's in a country which has less developed light industry and mainly depends on imports to meet the demand for daily necessities. As a frequent visitor to the online shopping site, he said the site was very easy and safe to use and he can now buy cheap and quality Chinese products without leaving home. "AliExpress provides an excellent shopping experience," Zhumabaev said. Two thousand years ago, China-produced silk opened up the ancient routes, and at present, China's idea has again connected economies along the Belt and Road. The hope and expectation is that the new routes will reproduce the glories of the past.
Source: China Daily
The Textile, Garment and Leather Employees Union (TGLEU) has rejected the stimulus package being offered by government to textile companies to help revive the industry. In line with government’s promise in the 2017 budget, the Chief Director at the Trade and Industry Ministry, Dawarnoba Baeka, sent a circular to industry players on 3rd May asking them to submit a ‘request for expression of interest’ so they can benefit from a bailout. “In line with its commitment to transform the industrial sector in Ghana, the government is introducing a stimulus package to support existing local industries to enhance their competitiveness and create jobs. In this regard, the Ministry first, thank you for showing interest in this programme and secondly invites your company to submit an Expression of Interest by completing the attached Diagnostic Tool Kit,” the memo said. But General Secretary of the Ghana Federation of Labour who is also chairman of TGLEU Abraham Koomson told Joy news a stimulus package for the textiles industry will go to waste unless loopholes in the system are plugged. He wants government to rather stop the pirating of local textiles as a way of reviving the industry.“If government says they are going to give us a stimulus package, I think they are making a serious mistake. It will not yield any positive results. At the end of the day, because of the smuggling and counterfeiting, they cannot compete. So we want government to address the issue of smuggling,” he explained. “The problem we have is the flooding of the market with these pirate goods which is making it very difficult for our industries to work. We have already passed the Easter season… But unfortunately nobody is bringing orders for us to print,” he lamented. The textile industry has over the years been struggling resulting in the loss of thousands of jobs. It employed more than 25,000 workers in the 1970s but now provides employment to only about 1500 people. The more than 130 million meters of fabric it produced have also reduced drastically to less than 30 million. The influx of counterfeited versions of local designs from China has been blamed for the situation. In 2010, government set up an anti-textile piracy task force to deal with traders of counterfeit textiles as a way to keep the industry afloat. But the work of the taskforce has since been suspended. The Textiles, Garments and Leather Workers Union has meanwhile written to the police announcing plans to picket at the premises of the Trade and Industry Ministry on 29th and 30th May to demand the revival of taskforce. “Having exhausted the process of engagement with the Ministry of Trade and Industry (MOTI) and failed to have the Anti Textile Piracy Taskforce re-instated…. The workers have resolved to picket at the forecourt of the MOTI to draw attention of government to this scary situation of joblessness and by this letter notify the police accordingly,” the letter said. Mr. Koomson says the move is to draw the attention of the president and Ghanaians to the plight of workers in the textile industry whose jobs are on the line unless the sector is revived.
Source: Ghana
Bangladesh's apparel export to the EU market is likely to face stiff competition with Sri Lanka's following the latter regaining trade benefit from the important bloc. Industry-insiders said the European Union recently reinstated GSP (generalised scheme of preferences)-plus to Sri Lanka with effect from May 19, about seven years after the suspension in 2010. "The EU's GSP plus granting to Sri Lanka has created a new competitor for locally made apparel," Mahmud Hasan Khan, vice-president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), told the FE. Buyers consider the landing cost of their orders and Sri Lanka has direct transportation with the EU and the US, resulting in lower lead time, he said. As such, he added, the duty benefit would help Sri Lanka in increasing its exports to the European Union market. "This will have some negative impacts on local apparel exports as it will face competition with Sri Lanka," he explained. Echoing the BGMEA leader's views, Abdus Salam Murshedy, managing director of Envoy Group, said competition increases among the exporting countries when a competitor gets some trade advantages. Citing example of Vietnam, he said last year Vietnam's export earnings from the US stood at nearly $11 billion while Bangladesh struggling to maintain $5.0 billion worth of export earnings from there. Vietnam's export to that market grew over the years to the US due to its preferential trade benefit, he noted. Though Sri Lanka's garment industry is not as big as Bangladesh's, it has a strong mid-level management including marketing and merchandising, said Mr Murshedy, also a former BGMEA president. Md Hatem, a former leader of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), however, opined that the EU's GSP-plus facility to Sri Lanka would not much affect Bangladesh's garment export as Bangladesh enjoys duty-free access under the EBA (everything but arms) scheme. Moreover, Sri Lanka produces value-added items. Khondaker Golam Moazzem, research director of Centre for Policy Dialogue, said 60 per cent of Lanka's garment goes to the EU and would enjoy 5.0 to 10 per cent tariff advantage following the EU's reinstatement of GSP-plus facility. Competition might be faced on account of both price and product, he said, adding not only Bangladesh but also all the exporting countries would face the same competition. Both Bangladesh and Sri Lanka produce some similar main products, he said, adding t-shirt, men and boy's trousers, women trousers and shorts are some of them. Challenges would be stronger for the emerging products like lingerie that Bangladesh nowadays is focusing on, he said. Sri Lanka manufactures such specialized and upper-end products. More than 60 per cent of Bangladesh's garment items are exported to the EU market. Bangladesh exported apparel worth $17.94 billion to the EU in 2016, according to BGMEA data. Sri Lanka's apparel exports to the EU stood at $1.61 billion last year, almost same $1.63 billion in 2010, according to Eurostat data.
Source: The Financial Express
Reducing Israeli components requires Knesset’s approval, El Rabie. Egyptian exports within the Qualifying Industrial Zone (QIZ) agreement reached $191m during the first quarter (Q1) of 2017. Ashraf El Rabie, head of the QIZ unit affiliated to the Ministry of Trade and Industry, said that 98% of total QIZ exports were in the sector of ready-made clothes, and the rest was distributed throughout different industrial sectors. El Rabie told Daily News Egypt that the Egyptian government continues its negotiations with its Israeli counterpart in order to reduce Israeli components to 8.5% compared to the current percentage of 10.5%. He explained that negotiations take a long time, and the decision of reduction depends mainly on the approval of the Knesset. “Egypt continues its negotiations to expand the range of the QIZ agreement and includes new industries within it, without limiting the existing industries to ready-made clothes, textiles, agricultural crops, and leathers,” El Rabie added. In 2004, Egypt signed the QIZ agreement with the United States of America and Israel. The agreement stipulates that specific Egyptian products and goods are to be exported to the US without customs, on the condition that Egyptian factories involved in the agreement would import a percentage of production inputs from Israel. The percentage was 11.5% in 2005 and was then reduced to 10.5% in 2007, according to data of the QIZ unit. Total Egyptian exports within the agreement reached $8.642bn during the period from February 2005 to June 2016, with $8.601bn being for textile industries, and $41.1m for food industries. The number of companies qualified to exporting within the agreement increased to 965 after 4 new factories joined the agreement in February.
Source: dailynewsegypt.com
