Mumbai: The Union Ministry of Textiles organised a road show in the city on Monday to give an impetus to the textile industry and to showcase the entire range of textile products from ‘Fibre to Fashion’, in the run up to Textiles India 2017 to be held later this month. Leading the proceedings at the roadshow were Anant Kumar Singh, Secretary of Textiles, and Dr. Kavita Gupta, the Textile Commissioner. Textiles India 2017, supported by the Confederation of Indian Industry (CII), will be held at Mahatma Mandir in Gandhinagar from June 30 to July 2. “The aim is not only to provide a platform to those who are already established in the textile society, but to also give an opportunity to the young entrepreneurs and fashion students,” Mr. Singh said. He also emphasised the authenticity of the Indian textile industry, focusing on how it is not merely about weaving the cloth, but weaving the country’s culture into it. Mr. Singh said the government has tried to encompass the entire ambit of the textile industry in the exhibition. “One of the primary objectives of the event is to provide a market for the product, and to give an opportunity to those who cannot venture outside to sell or exhibit their talent and their work. We have to congregate the entire textile industry under one umbrella and thus provide a prospect for all to represent,” he said. Currently, 1,269 Indian exhibitors, 15 overseas exhibitors and 61 international buyers have registered for Textiles India 2017, while concurrently, 75 buying agencies have enrolled too. “The chief intent is to showcase India’s brilliant strength in textile value chain and India’s competitiveness as a sourcing textile hub and sourcing destination,” said Dr. Gupta. On the much-awaited new textile policy, which is likely to be finalised in the next three months, Mr. Singh said, “After consultation with stakeholders, we have finalised the draft. We are now trying to incorporate international response and output from foreign players at the forthcoming conference, which will serve as input to our textile policy.”
Source: The Hindu
Over 2,000 international buyers will visit the first ever three day Textiles India 2017 scheduled to be held at Gandhinagar from June 30, stated Ministry of Textiles Joint Secretary Subrata Gupta here on Monday. Prime Minister Narendra Modi will inaugurate the Textiles India 2017 at Mahatma Mandir while the Union Finance Minister Arun Jaitley will address the valedictory session. Gupta said there will be thousands of international and domestic exhibitors and over 15,000 domestic visitors are expected to be present at the three day fair. The fair will give an opportunity to contact and collaborate with global manufacturers, investor and buyers and to explore opportunities and strengths of textiles and apparel manufacturing in India for global investors, added Gupta. The exhibition will come up on a space covering 1,25,000 sq mt where rich heritage and modern diversified products in handlooms, handicrafts, jute silk and cotton will be showcased. The West Bengal government will open its stall at the fair in a 120 sq mt area and will exhibit its products. Industrialists associated with jute and apparel will take part in the fair, he maintained. There will be round tables where the Indian Army has expressed its willingness to join. Gupta said it is likely that the Army will explore the possibility of procuring protective gears at the fair. He said there will be a cultural show where the growth of textile in India from vedic period to the present day will be shown. There will be B2B, B2G and G2G meetings and Gupta said the textile Industry is fast growing in the country and government of India's main thrust is now on modernisation of weaving.
Source: millennium post
The policy aims to achieve USD300 billion (over Rs 20 lakh crore) worth of textile exports by 2024-25 and create an additional 35 million jobs. The much-awaited new textile policy is likely to be finalised in the next three months, a senior official said on Monday. "After consultation is done with stakeholders we have finalised the draft. We are now trying to incorporate international response and output from foreign players at the forthcoming Textiles India-2017 conference, which will serve as input to our textile policy," Textiles Secretary Anant Kumar Singh told reporters at a CII event. "There is no harm in having a wider consultation. After having inputs, we will process and finalise the policy in next three months period", the officer added. The policy aims to achieve USD300 billion (over Rs 20 lakh crore) worth of textile exports by 2024-25 and create an additional 35 million jobs. According to Singh, the Centre is organising Textile India Conclave and Exhibition in Gujarat from June 30 to July 2, for the Indian textile and handicraft sector which will showcase the entire range of textile products from 'fibre to fashion'. It will be inaugurated by Prime Minister Narendra Modi, added Singh. The event will have over 1,000 stalls and will witness the presence of over 2,500 discerning international buyers, agents, designers, retail chains from across the world, and 15,000 domestic buyers. The three-day event will include a global conference with six themes, to be chaired by concerned Union Ministers. The valedictory session will be presided by Union Finance Minister Arun Jaitley.
Source: Moneycontrol.com
If the duty drawback policy is not tweaked, the textile industry may lose close to Rs 1,500 crore refunds. A 5% overall GST rate might have pleased the cotton textile industry, but there are significant worries among garment exporters as the migration to the new tax regime would need significant tweaking of the duty drawback schemes that have helped Indian exports compete in an increasingly adverse global market. "The major concern of the textile exports industry is what would happen to the various drawback benefits, and particularly how the refund mechanism would play out. Today the industry is surviving because of drawbacks. We don't know how the changeover will play out and concerned with the drawback benefits whether they would stay or go away," Anil Buchasia, eastern region chairman of Apparel Export Promotion Council, said. To illustrate, the government's recently launched policy of refunding state levies to exporters called Remission of State Levies (RoSL) can't exist in the new tax regime as there would be no state taxes. If the policy is not tweaked to accommodate GST, the textile industry is set to lose close to Rs 1,500 crore refunds budgeted for the current year. According to a textile ministry secretary, the scheme is being studied to make it compatible with the GST regime. "It will probably undergo some changes because VAT (value added tax) is being subsumed under GST. It is being studied right now," said Subrata Gupta, joint secretary, Union Ministry of Textiles, at a road show for Textiles India. Exporters had been getting duty drawback on the central levies imposed during the process of manufacturing of goods for exports. And, beginning December, they started to get reimbursement of state levies as well. The scheme, under which Rs 400 crore was disbursed since its launch in December is largely seen as helping boost exports in recent times. While there would be input tax credits under GST, there are many costs which were being taken care of under the various duty drawback schemes. "There are many hidden costs as well. Unless they are addressed under GST, India would lose out to neighbouring countries, particularly while exporting to the European Union," Buchasia said. Both Bangladesh as well as Vietnam have now surpassed India in apparel exports. "On top of it, Sri Lanka has recently got the GSP plus status from EU under General System of Preference, which is being enjoyed by Bangladesh and Vietnam. With a significant portion of Indian apparel export going to EU, we need desperate measures to protect our turf," he said.
FACING LOSSES
If the duty drawback policy is not tweaked, the textile industry may lose close to Rs 1,500 crore refunds
According to textile ministry, the scheme is being studied to make it compatible with the GST regime
Source: DNA
NEW DELHI: Textile industry today urged the GST Council to lower the service tax on job work related to made-ups and garment sector, saying the proposed 18 per cent tax would escalate the prices of final goods making them uncompetitive in the international market. In a statement, Confederation of Indian Textile Industry Chairman J Thulasidharan said the industry is apprehensive about the made-ups and garment sector as the job work related to these still comes under 18 per cent service tax slab. He requested the Goods and Services Tax (GST) Council to reconsider this on an urgent basis and bring it under the 5 per cent slab. The Council yesterday fixed the tax rate on job workers in textile, diamond processing, leather, jewellery and printing at 5 per cent, as against the normal 18 per cent GST rate for services.
Giving reasons for lowering the tax rates, Finance Minister Arun Jaitley
Thulasidharan welcomed the announcement on revision of GST rates on job work of textile yarn andhad said the objective was to maintain equivalence to the existing taxation level. fabric manufacturing. He said the lower tax will provide relief to the textile industry from the extra burden as majority of the work ofactivity from 18 to 5 per cent. textile manufacturing is with small and medium enterprises and is carried on through job works especially in the power loom, knitting, processing and garment manufacturing sectors.
Source: PTI
Imports are likely to remain 5-6 per cent cheaper than locally made apparel, despite the goods and services tax providing input credits to the textile industry. Apparel imports are subject to a countervailing duty (CVD) of 6 per cent on cotton and 12.5 per cent on polyester, which importers receive as a central value-added tax credit. The CVD is optional at a flat 2 per cent if the importer does not claim a set-off against input costs. The government has provided a 40 per cent abatement on this optional flat duty, which works out to 0.8 per cent. Thus, the total applicable tax is 1.2 per cent for importers who do not claim the set-off. This apart, importers pay a 4 per cent special additional duty (SAD) without any duty protection, which after considering cesses, works out to over 5 per cent. “The government had levied this duty as protection for domestic players. With the GST, this duty protection will be removed and imported garments will be 5-6 per cent cheaper. The government has fixed 5 per cent as the GST rate on all textile products and apparel,” said Rahul Mehta, president, Clothing Manufacturers Association of India. The textile industry fears an increase in imports from Bangladesh and China, where the cost of manufacturing is lower due to cheaper labour. “The GST subsumes all taxes, including protections. Garment imports will become cheaper due to removal of the SAD,” said an official from the Cotton Textiles Export Promotion Council. The textiles ministry has set an export target of $45 billion for FY18, marginally lower than the $48 billion set for FY17. The government plans to present a new textiles policy by September. It is also organising Textiles India 2017, a seminar to bring global buyers under one roof, between June 30 and July 2 in Gandhinagar. While 61 countries have booked pavilions, 1,900 stalls are expected to be booked by state governments and industry players. “Our aim is to increase textiles exports and create a competitive environment. We would like states to take such initiatives to help the industry showcase its products directly,” said Anant Kumar Singh, secretary in the textiles ministry. Singh said his ministry had done some work on the new textiles policy, which would focus on India’s competitiveness in the world market.
Effective levies on imported garments
Before GST
* Countervailing duty include excise duty on cotton 6% and polyester 12.5% with Cenvat credit
* Optional duty of 2% with abatement of 40% on it (i.e. 0.80%) means effective duty of 1.2% without Cenvat credit
* 4% of special additional duty, which along with cess, educational cess and others wok out to Rs 5.5%.
* Thus, duty protection of 5.5% from cheap import
After GST
* All duties subsumed in 5% of the GST for both domestic manufacturers and importers
* No protection, as both domestic manufacturers and importers would require to pay same duty
Source: Business Standard
Apparel Export Promotion Council (AEPC), the apex council for garment exports conducted a survey to find the catalyst for the exceptional differentiated export growth of 31.7 per cent in April, 2017 and found that ROSL has a huge impact on the industry's performance. The industry believes that over the next 3 years they can consistently increase exports. According to the survey done by AEPC in 8 states where there is significant apparel production, 85 per cent of apparel exporters were substantially benefited by ROSL in their export performance, while 65 per cent rate the impact of ROSL as high or game changing. The industry also believes that given the ROSL impact in such a short span of time, they can increase their capacity over a period of three years consistently. About 61 per cent of industry respondents believe that they can deliver growth above 15-20 per cent. With as many as 6 per cent believe more than 30 per cent is possible. Further, 64 per cent of the respondents are of opinion that continued ROSL support will help them expand their factories. The respondents are also of the opinion that expansion of factories will also lead to higher rate of employment (67 per cent), better work environment (73 per cent) and better prices for farmers (50 per cent). Moreover, 77 per cent exporters are of the view that ROSL can be continued in its existing form. "AEPC has been reiterating the importance of ROSL for the industry. ROSL has helped industry deliver phenomenal growth for the sector. ROSL since its announcement in last June added a positive sentiment amongst exporters and roll-out in September last year helped lifting the falling apparel exports. Since then the growth has been on an upward trajectory peaking in April this year," said Ashok G Rajani, chairman, AEPC. India's apparel export registered momentous growth of 31.7 per cent in April 2017 compared to the same period last year. The data of the apparel exports shows that after the commencement of disbursement of ROSL, the apparel sector has been registering double digit growth. During March-April, 2017, Indian garment exporters were able to increase production by around 30 per cent for achieving this growth and employed at least 5 per cent more workers during the same period.
Source: Fibre2Fashion
The Southern India Mills' Association (SIMA) has appealed to the Goods and Services Tax (GST) Council to include garmenting, made-ups and other sewn textile products under the textile job work list which will attract 5 per cent tax. Currently, only textile yarns (other than MMF and filaments) and textile fabrics producing activities are classified under it. The Council slashed the tax rate on textile job work from the earlier decided 18 per cent to 5 per cent in its 16th meeting held on June 11 after the textile industry appealed for the reduction. The industry had urged to slash the rates as over 80 per cent of the manufacturing activities in the textile value chain are carried out on a job work basis by the MSME due to the decentralised nature of the segments of textile industry. M Senthilkumar, chairman, SIMA said that garmenting and made ups predominantly work on a hub and spoke model and creates 70 to 150 jobs per crore of Investment especially for the rural women and people below the poverty line. He has mentioned that the term fabrics would apply only up to the stage of finished fabric cutting and thereafter they would be termed as garment or made-ups or any other sewn products and therefore, suitable amendment/inclusion is required to avoid any ambiguity at a later stage. SIMA chief has also reiterated that the industry demand of reducing the GST rate on manmade fibre, filaments and spun yarn from 18 per cent to 12 per cent as the fabric attracts only 5 per cent GST, may be considered. He has added that such an exorbitant rate would increase the clothing cost of the poor man’s fabrics by 5 to 6 per cent and would seriously affect the major textile clusters such as Surat, Bhiwandi, Panipet, etc., making several lakhs of people jobless. He has pointed out that the Indian textile industry could achieve the potential and envisaged growth rate only when the raw materials, especially synthetic fibres, are made available at an internationally competitive rate. Meanwhile, Senthilkumar has welcomed the decision of GST Council and thanked the finance minister and the textile minister for favourably considering the appeal made by the association and reducing the service tax on textile job work to 5 per cent. He said that under current tax structure, textile job works are exempted from service tax as such activities are manufacturing processing and not servicing in nature. He added that 5 per cent service tax with full input tax credit would enable the various textile manufacturing segments including reeling, sizing, powerloom, handloom, knitting, yarn dyeing, fabric bleaching, mercerising, dyeing, printing and finishing segments to set off their input credits and pay very minimal GST on services.
Source: Fibre2fashion
Retail inflation for the month of May hit another series-low, coming down to 2.18 per cent. Consumer Price Index-based inflation was 2.99 per cent in April and 5.76 per cent in May last year. Food prices entered a deflationary zone in May, with the Consumer Food Price Index at minus 1.05 per cent, against 0.61 per cent this April and 7.47 per cent in May last year, official data showed on Monday. The headline figure of 2.18 per cent is the lowest since the series was introduced with a new base year in January 2015. This is a second month that retail inflation has hit a serieslow. “The decrease can be ascribed to a decline in food prices, owing to falls in the price of cereals, fruit, egg, fish, meat, sugar and spices,” said Madan Sabnavis, chief economist at CARE Ratings. The steepest fall was in pulses, at minus 19.45 per cent, and vegetables at minus 13.44 per cent. The food and beverage category, 46 per cent of the CPI index, showed minus 0.22 per cent for May. For farmers, the record low means the produce is not fetching even their basic price in the market. Their spreading agitation has been fuelled CPI (General) ¾Rural ¾Urban ¾Combined % by the fact that market rates of major pulses and vegetables have slumped in recent years. According to data provided by the Department of Consumer Affairs, the retail price of urad dal (black gram) is 37.6 per cent less than last year, while masoor dal (red lentil) is 13.7 per cent less. And, below the minimum support price set by the Centre. Though the Centre has stepped in to purchase pulses at market rates from farmers, this is concentrated in a few states and the total purchase has been less than a tenth of the production in 2016-17. Among vegetables, potatoes are selling at 31.1 per cent less than last year in most retail markets; onion is 4.3 per cent weaker. Tomatoes are 45.2 per cent cheaper. “DAP (fertiliser) has gone up from ~1,000 a bag to ~2,300 in one year. How are we to make ends meet?” asks Anil Thakur, a farmer from MP’s Mandsaur. Sabnavis said while food prices had come down, core inflation “continues to be sticky in the upward direction”. He said food prices could turn around in June and there could be upside risks to inflation. “The Reserve Bank is expected to maintain status quo (on lending rates) until September, as inflation is dependent upon turnaround of the monsoon, increase in house rent allowances, implementation of GST and farm loan waivers. We expect only a 25-basis point cut in October,” he said. On June 7, the central bank’s Monetary Policy Committee held interest rates where they were for a fourth consecutive time. This drew flak from the finance ministry, with Chief Economic Advisor Arvind Subramanian saying the panel’s inflation model was faulty.
Source: Business Standard
Kolkata: The scheme for Rebate of State Levies (RoSL), which aims at making garment exports competitive in the international market, is expected to undergo some changes in the Goods and Services Tax (GST) regime, a top official said here on Monday. "It will probably undergo some changes because VAT (value added tax) is being subsumed under Goods and Services Tax (GST). It is being studied right now," Ministry of Textiles Joint Secretary Subrata Gupta told reporters here. "Whatever be the loading on the industry in terms of state taxes... that is proposed to be offset... we sought views from the industry. Once they give their views, we will examine it," Gupta added. The Union Cabinet, in June last year, had approved Rs 6,000 crore special package for employment generation and promotion of exports in the textile and apparel sector. The special scheme for the remission of state levies by the Textiles Ministry for three years was part of the package. The ministry disbursed Rs 400 crore under RoSL to exporters in the last year and provisioned Rs 1,554 crore in the current fiscal for giving supports to the exporters, Gupta said. The textile industry has already urged the government to continue with the RoSL for three years as committed in the package because the scheme has benefited the exports of garments. "Exports of garments have gone up over 31 per cent in April this year, over the corresponding month last year. This is due to interventions of the ministry," said Anil Buchasia, Chairman, AEPC (EP). The ministry organised a roadshow in the city for the Textiles-India 2017 Fair which is to be held from June 30 to July 2 at Mahatma Mandir in Gandhinagar in Gujarat. With an exhibition area of about 125,000 square metres, over 1,000 exhibitors are likely to showcase their products and services. More than 2,500 international and over 15,000 domestic buyers are expected to attend the show.
Source: Millennium Post
Hyderabad: The Telangana government has allocated a budget of Rs1,200 crore to the textile sector for 2017-18, of which Rs373 crore is for handlooms and Rs827 crore for powerlooms and their modernization and other schemes, said state information technology and industries minister K. T. Rama Rao on Monday. Rao, who released the Department of Industries and Commerce’s 2016-17 annual report on Monday, said that Telangana generated Rs73,000 crore in investments and created 2.56 lakh jobs in the process, after the state government started the Telangana State Industrial Project Approval and Self-Certification System (TS-IPASS) post the programme’s launch in 2015. According to its website, the TS-IPASS is a system in which an industrial application has to be cleared within 1 to 30 days depending on the complexity of the approval. The department’s annual report showed that Telangana managed to achieve a 10.1% year-on-year of growth in gross state domestic product (GSDP), compared to the national average of 7.1% in 2016-17. “The state’s economy in the national gross domestic product (GDP) has increased seven basis points (from 4.21% to 4.28%) in 2016-17 against 2015-16,” Rao stated. The industries minister also said that thanks to TS-IPASS, Telangana was ranked first in the ease of doing business (EODB) reforms for 2015-16 (conducted by the World Bank). He announced that a handful of industrial parks are set to be established in Telangana. Among them are the Kakatiya Integrated Mega Textiles park, Sircilla Apparel park, four mega food parks at Nizamabad, Gadwal, Khammam and Sangareddy. Another aspect of the industries sector in Telangana that Rao highlighted was that the mineral department had generated a revenue of Rs3,169 crore, which was 103% of the required target and had attained a growth rate of 34%, which was highest among all states. “The revenue from sand (mining) revenue was about Rs400 crore in the same period. It was just Rs10 crore (per year) before the state’s bifurcation,” Rao added. Genome Valley, the cluster which is home to over 200 companies, is being expanded with more than 2 million sq.ft of laboratory/incubation space in partnership with IKP Knowledge Park and MN Science and Technology Park, Rao said, adding that a dry port will also be set up at Nalgonda district in the coming days. On implementation of the goods and services tax (GST) from July, Rao said the Centre should take the advice and suggestions of all states. “We are still talking to the Centre. It is a learning process and we will have to work with the Central government to make sure that the industries do not suffer,” he said, pointing out that Telangana was one of the first states to ratify the GST Act.
Source: Livemint
Calcutta : The Union textile ministry has sought the opinion of domestic manufactures and apparel exporters on readjusting the rebate on the state levies (ROSL) scheme with the goods and service tax expected to roll out next month. Under the ROSL scheme, the Centre provides rebate on state levies such as value-added tax and central sales tax on inputs, including packaging, fuel, and electricity duty, accumulated through various stages of production, from yarn to finished garments. For exporters, the scheme offers enhanced duty drawback cover on inputs. "There may be some changes. We have sought the industry's view on this," said Subrata Gupta, joint secretary at the ministry of textiles. Already Rs 400 crore has been released under the scheme and around Rs 1,500 crore is earmarked for the ongoing financial year. The ROSL scheme is an integral part of the Rs 6,000-crore special package announced by the Centre last year to strengthen the textile and apparel sectors to improve its global competitiveness. It has set a target to generate an additional $30 billion in exports and create 1 crore jobs over a three-year period. The special package got cabinet approval on June 22, 2016. The industry fears that with GST subsuming the state taxes, the scheme could be withdrawn prematurely. "We are in favour of the continuity of the scheme. But with GST coming in, we don't know what will happen to the scheme. There are concerns on what will happen to the duty drawback and refunds," said Anil Buchasia, chairman of the export promotion committee of the Apparel Export Promotion Council. Buchasia added that the special package had helped apparel exports to record a 31 per cent growth in April over the previous year. Under the ROSL scheme, exporters get incentives worth around 4 per cent of the export value. Gupta was in Calcutta as part of a road show held by the National Jute Board and the CII to promote Textiles India 2017, a global B2B textiles and handicraft event hosted by the ministry of textiles. Gupta said the event would offer scope for the jute industry, a key business sector for Bengal, to explore diversification in areas such as jute geo-textile used for the construction of roads.
Jute for roads
The Indian Road Congress has accepted jute as the geotextile for building roads. At present, three jute varieties are being used to build roads under the Pradhan Mantri Gram Sadak Yojana (PMGSY). As of now, 65 roads have been constructed using jute under the PMGSY of which 453 km are in Bengal.
Source: The Telegraph
Knitwear apparel exporters from the Tiruppur cluster are keen on developing and marketing wool-based products, considering that there is a huge potential for them in the global market, according to The Woolmark Company. The company recently conducted a secondary level workshop to impart knowledge about merino wool to exporters and manufacturers. The Woolmark Company had also conducted a workshop in Tiruppur on the natural properties of merino wool in June last year. A few companies from the cluster had also developed garment samples using the wool, said Arti Gudal, country manager, The Woolmark Company in a press release. Gudal, who visited Tiruppur for the secondary level workshop, also said that South India is a crucial market for Woolmark as it has rapidly grown in the readymade knitted garment sector. The aim of Woolmark behind organising the workshop was to promote merino wool as a fibre to manufacturers in the region. Gudal added that the joint efforts by the company and exporters from Tiruppur will help produce and position Merino wool garments in a different light, and drive consumption locally as well as globally. Merino wool can be used in the production of sportswear, casuals, T-shirts and more, apart from sweaters, which can be used in both cool and hot climatic conditions. Raja Shanmugham, president of Tiruppur Exporters' Association (TEA) said that wool products can be a good option for diversifying the products of the industry.
Source: Global World
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$ 47.23 per barrel (bbl) on 12.06.2017. This was higher than the price of US$ 46.69 per bbl on previous publishing day of 09.06.2017. In rupee terms, the price of Indian Basket increased to Rs. 3038.56 per bbl on 12.06.2017 as compared to Rs. 3000.47 per bbl on 09.06.2017. Rupee closed weaker at Rs. 64.34 per US$ on 12.06.2017 as compared to Rs. 64.26 per US$ on 09.06.2017. The table below gives details in this regard:
|
Particulars |
Unit |
Price on June 12, 2017 Previous trading day i.e. 09.06.2017) |
Pricing Fortnight for 01.06.2017 (May 12, 2017 to May 29, 2017) |
|
Crude Oil (Indian Basket) |
($/bbl) |
47.23 (46.69) |
51.67 |
|
(Rs/bbl) |
3038.56 (3000.47) |
3331.68 |
|
|
Exchange Rate |
(Rs/$) |
64.34 (64.26) |
64.48 |
Source: PIB
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1099.87 |
USD/Ton |
0% |
6/12/2017 |
|
VSF |
2177.67 |
USD/Ton |
0% |
6/12/2017 |
|
ASF |
2324.81 |
USD/Ton |
0% |
6/12/2017 |
|
Polyester POY |
1118.26 |
USD/Ton |
0% |
6/12/2017 |
|
Nylon FDY |
2648.52 |
USD/Ton |
1.12% |
6/12/2017 |
|
40D Spandex |
5223.47 |
USD/Ton |
0% |
6/12/2017 |
|
Polyester DTY |
2501.38 |
USD/Ton |
0% |
6/12/2017 |
|
Nylon POY |
1361.05 |
USD/Ton |
0.54% |
6/12/2017 |
|
Acrylic Top 3D |
2810.37 |
USD/Ton |
0% |
6/12/2017 |
|
Polyester FDY |
5826.74 |
USD/Ton |
0% |
6/12/2017 |
|
Nylon DTY |
1353.69 |
USD/Ton |
0% |
6/12/2017 |
|
Viscose Long Filament |
2501.38 |
USD/Ton |
1.19% |
6/12/2017 |
|
30S Spun Rayon Yarn |
2825.09 |
USD/Ton |
0% |
6/12/2017 |
|
32S Polyester Yarn |
1687.70 |
USD/Ton |
0% |
6/12/2017 |
|
45S T/C Yarn |
2707.38 |
USD/Ton |
0% |
6/12/2017 |
|
40S Rayon Yarn |
2310.10 |
USD/Ton |
-0.63% |
6/12/2017 |
|
T/R Yarn 65/35 32S |
1839.25 |
USD/Ton |
0% |
6/12/2017 |
|
45S Polyester Yarn |
2280.67 |
USD/Ton |
0% |
6/12/2017 |
|
T/C Yarn 65/35 32S |
2986.94 |
USD/Ton |
0% |
6/12/2017 |
|
10S Denim Fabric |
1.37 |
USD/Meter |
0% |
6/12/2017 |
|
32S Twill Fabric |
0.86 |
USD/Meter |
0% |
6/12/2017 |
|
40S Combed Poplin |
1.19 |
USD/Meter |
0% |
6/12/2017 |
|
30S Rayon Fabric |
0.66 |
USD/Meter |
0% |
6/12/2017 |
|
45S T/C Fabric |
0.67 |
USD/Meter |
0% |
6/12/2017 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.14714 USD dtd. 12/06/2017). The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
A fall in global demand for Bangladesh’s lucrative ready-made garments (RMG) sector caused a slowing in the rate of export earnings growth in the last fiscal year, data from the Export Promotion Bureau (EPB) has revealed. Although Bangladesh’s overall export earnings rose 3.67% rise in the first eleven months of Fiscal Year 2016-17 to hit $31.79 billion, the growth in export earnings slowed to 1.39%, earning $3.07 billion against the target of $3.35 billion set for the month. Trade analysts and leading sector figures have said the slow rate of growth highlighted by the EPB figures is due weaker demand in the RMG sector – the lifeline of Bangladesh’s economy in terms of export earnings. “Low demands in global markets caused slower growth in Bangladesh’s exports earnings, which is even seen in other countries,” Khondaker Golam Moazzem, research director at Centre for Policy Dialogue (CPD), told the Dhaka Tribune. “It is a matter of concern as it may adversely impact backward linkage industry, production and even the Gross Domestic Product (GDP).” Of the total export earnings in the July-May period of FY 2016-17, the RMG sector grew by 2.16% to contribute $25.62 billion, or 80.59%. The sector, however, failed to reach its target of $27.38bn. Moazzem added that the government offered some incentives for the apparel sector in the proposed budget unveiled on June 1, but said it is not up to the expected level. “Since the budget is proposed, the government should take measures that would help boost exports, especially in the non-traditional markets,” he said. Exporters Association of Bangladesh (EAB) president Abdus Salam Murshedy told the Dhaka Tribune that he thought the situation was “critical”. “The government should come up with comprehensive package in the budget for the next fiscal year, or else, the crisis in the manufacturing industry may linger,” he warned. “The growth rate is much lower than expected due to losing competitive edge in the global market to our competitors. Bangladesh’s production capacity in the RMG sector has also gone down due to the ongoing remediation, which may be another reason,” he said. Of the total export earnings in the July-May period of the current fiscal year, knitwear posted 4.91% growth to $12.5 billion, but woven garments witnessed negative growth and were 0.33 % down compared to the $13.16 billion revenue of the previous period. Jute and jute goods posted a 9.84% rise to $903.69 million, while the home textile sector posted 6.72% growth to $737 million. Leather and leather goods earned $1.12 billion, which is 9.17% higher compared to $1.02 billion in the previous year. Among the major sectors, frozen and live fish witnessed negative growth by 1.89% followed by processed leather, which fell 10.31% to $225 million.
Source: Dhaka Tribune.
The Ministry of Trade and Industry revealed that the country imported 3.3 million USD worth of fabrics in the first four months of 2017, up 6.75 percent from the same period last year, largely because Vietnamese-made fabrics are still below the standards of foreign markets. The fabrics were mostly originated from Asian countries, with China accounting for 52 percent of the imports. Once the EU-Vietnam Free Trade Agreement comes into force, the EU will eliminate tariffs on textile and garment products from Vietnam. However, the agreement will impose long transition phase of up to 7 years for textiles and garments as it is among products sensitive to EU producers. Furthermore, the strict rules-of-origin scheme will likely stop Vietnamese manufacturers from immediately benefiting from the deal. Vietnam will have to satisfy “double transformation” rules-of-origin in return for full-fledged tariff removal that requires weaving and sewing and all subsequent manufacturing stages to be carried out within Vietnam. The move aims to cut inputs from suppliers in countries outside of the agreement.
Source: Vietnam.net
All Pakistan Textile Mills Association (APTMA) has urged the Pakistan government to improve liquidity of the textile industry by releasing the pending benefits by August 14, 2017. Around 60 per cent of the country's foreign exchange is earned through the exports of the items related to the textiles, said the vice chairman of APTMA, Zahid Mazhar. In order to revive the production of cotton crop in the country, the government should ensure that there is easy availability of raw materials without duty and sales tax on the import of cotton, said Mazhar in a statement. For the development of the textile industry, he has requested the government to review its verdict to re-impose custom duty while importing cotton. "Our annual requirement of cotton is 15 million bales whereas we have produced around 10 million bales each in the last two seasons. If proper attention is given then the crop size can even reach 20 million bales which can give a boost to the textile industry and the economy of the country," said Mazhar, adding that cotton production can be increasing by spending on research and identifying the country's cotton requirement. Further, appeals have also been made for implementation of the incentives under the Rs 180 billion export-led growth package for the textile industry at the earliest. The package was announced by prime minister Nawaz Sharif in January this year.
Source: Fibre2fashion.
Sourcing Canada (ATSC) show, the premier international apparel and textile sourcing event in Canada, are set to unveil the latest innovations in smart apparel and textiles on June 14, 2017. It will be a sneak peek of trending technologies that will be showcased at ATSC show that will begin from August 21, 2017. The technologies to be unveiled include self-heating winter coats and boot insoles, smart shirts for men, women and children that monitor everything from steps and calories, to breathing and heart rates, leg bands that measure muscle performance and help avoid injuries, LED-backlit apparel and textiles and socks that improve balance, and multi-sensor insoles that help prevent falls. Representatives from over 20 countries will visit the ATCS show to exhibit their trending apparel and textiles. "The participation of a rapidly-growing number of local and international exhibitors demonstrates confidence in the Canadian economy and the importance of the apparel and textile industry both in Toronto and nationally," said Jason Prescott, CEO of JP Communications, North America's leading publisher of B2B trade platforms TopTenWholesale.com and Manufacturer.com and organiser of ATSC. ATSC will also feature three full days of seminars, panels and sessions by leaders in industry, government and fashion, and a fashion runway event showcasing Canadian student and international exhibitor designs.
Source: Fibre2Fashion
WASHINGTON, DC — Today, the National Council of Textile Organizations (NCTO) filed public comments with the Office of the U.S. Trade Representative (USTR) outlining the U.S. textile industry’s priorities in the forthcoming renegotiation of the North American Free Trade Agreement (NAFTA). The comments are both linked above and pasted at the bottom of this release. “The U.S. textile industry welcomes President Trump’s decision to renegotiate NAFTA,” said NCTO Chairman William V. McCrary Jr., Chairman and CEO of William Barnet & Son, LLC, a synthetic fiber/yarn/polymer firm headquartered in Spartanburg, South Carolina. “It is in America’s national interest to modernize the agreement and NCTO is eager to work with President Trump to make it even better,” McCrary continued. “Let me be clear: NAFTA is vital to the prosperity of the U.S. textile industry, and NCTO steadfastly supports continuing the agreement. With that said, NAFTA can be improved to incentivize more textile and apparel jobs and production in the United States, Canada, and Mexico,” McCrary added. “Eliminating loopholes that shift production to third-party countries like China and devoting more customs enforcement resources to stop illegal third-country transshipments are two changes that would make the agreement better,” McCrary said. “We look forward to working with our industry partners throughout the NAFTA region to improve this agreement for all,” McCrary finished. U.S. Trade Representative Robert Lighthizer formally notified Congress on May 18, 2017 that President Trump intended to renegotiate NAFTA. This action triggered a request for public comments found at 82 FR 23699 and dated May 23, 2017 (Docket: USTR–2017–0006). That public comment period closes today. NCTO is a Washington, DC-based trade association that represents domestic textile manufacturers.
Source: Textile World
BÖNNIGHEIM, Germany — In recent years there has been a steady increase in the demands made on the properties of function, sports and workwear textiles. In order to achieve a cooling effect, special textile constructions are developed, which increase the sweat evaporation and thus the cooling of the body. But how can the cooling effect of intelligent textiles be measured? There are already various methods to characterize such properties. Until now they are not linked to thermophysiological methods and models, which are capable to objectively determinate comfort levels. The desire here is for a practical method that not only takes account of physical measurement data, but also the resulting cooling effect observed in controlled wearer trials in a climate chamber. This process is however very time-consuming, while also requiring a large group of test subjects, so ultimately leading to higher product prices. In short: A level of effort that is neither affordable, nor feasible for small and medium-sized enterprises.
Making measurement data comparable
With the WATson heat loss tester Hohenstein Institut für Textilinnovation (HIT) has now developed a new physical measuring method for determining the cooling performance of textiles – heat release tester WATson. Until now there is no correlation of the data obtained using WATson with actual wearer trials and thermophysiological models. The textiles industry however needs such an evaluation system for the goal-oriented development of cooling textiles – in other words a system capable of measuring the quality of a cooling process, e.g. temperature range, duration, impact on the heat / humidity balance of the wearer. With these requirements in mind, HIT then embarked on a research project to develop a thermophysiological evaluation system for the textiles industry. The aim here is for the new evaluation system to compare the results of the WATson heat loss tester with data from experiments on subjects in a climate chamber under different ambient conditions.
Structure of research project
Characterisation of cooling textiles with the heat loss tester
• Performance of monitored wearer trials in a climate chamber examining different cooling textiles and a variety of ambient conditions (temperature, humidity, wind etc.)
• Examination of the cooling effect of textiles under consideration of different parts of the body
• Examination of the cooling effect of textiles with different levels of physical exertion
Following analysis and correlation of the data from the various work stages, the intention is to provide industry with an efficient thermophysiological system for the evaluation of cooling textiles using WATson.
Benefit for the textiles industry
German manufacturers of cooling textiles benefit directly from the evaluation system developed on this project aimed at the objective determination and assessment of the cooling performance of textiles. This project is of major economic benefit to Germany’s textile industry, as companies will only succeed in improving their competitive ability if their products actually offer the functionality required by customers.
Source: Textile World
