The export sector’s woes finally seem to have nudged the Centre into action. On Friday, when the GST Council meets to iron out the sector’s problems, three key Union ministers will hold a brainstorming session with officials, exporters and industry bodies to identify measures to lift exports on to a higher growth trajectory. Commerce and Industry Minister Suresh Prabhu, Textiles Minister Smriti Irani and Chemicals & Fertilisers Minister Ananth Kumar will hold talks with representatives from key ministries and departments, including Finance, Heavy Industry and MSME, as well as exporters’ and industry bodies, a government official told BusinessLine. “The inputs from the session will also be used to frame the mid-term review of the Foreign Trade Policy (FTP), which is already delayed. The focus will be on how India can go for a quantum jump in exports,” the official said. Exports have fallen woefully short of the FTP targets announced in April 2015, which projected annual exports of $900 billion by 2020. However, exports have hovered around $300 billion in the last two years. Liquidity challenges after the GST regime kicked in and the rupee’s volatility have made the going tougher for exporters. “The Commerce Ministry realises it is time for a course correction in order to move exports to a higher growth trajectory. Not only will steps need to be taken to address the immediate problems, effective schemes have to be devised to increase their competitiveness,” the official said.
New challenge
With the World Trade Organization declaring earlier this year that India’s per capita Gross National Product (GNP) had exceeded $1,000 for three years in a row (2013, 2012, 2015), the country will now be ineligible for export incentives that only poorer countries are allowed. “The Ministry will have to look at new options together with affected ministries, such as Textiles, in order to ensure that action is not taken against Indian exports by other WTO member countries,” the official said.
Exporter wishlist
Meanwhile, the GST Council is expected to consider some of the requests made by the export sector, which includes exemption from Integrated GST (IGST) on imports of inputs used in exports (under schemes such as Export Promotion Capital Goods and Advance Authorisation); exemption from GST for merchant exporters and wider usage of duty exemption scrips (earned under incentive schemes such as Merchandise Export from India Scheme). “In the meeting with the Centre on increasing exports, we will highlight problems of the export sector, give possible solutions and suggest a strategy to increase exports,” said Ajay Sahai, Director General, Federation of Indian Export Organisations (FIEO).
Source: Business Line
Exports from special economic zones (SEZs) paced up 15.4 per cent to Rs 1.35 lakh crore during the first quarter this fiscal, showed commerce ministry data. Industry analysts stated that exports are growing from these zones, but observed that the government should do more to step up shipments. "In the GST (Goods and Services Tax) regime, units in SEZs have advantage compared to the units in domestic tariff area," Chairman of Export Promotion Council for EOUs and SEZs (EPCES) Rahul Gupta pointed out. He felt that the government should set up a proper refund mechanism for duties to be paid by SEZs when they buy products from outside these zones. Exports grew about 12 per cent to Rs 5.24 lakh crore in 2016-17 as against Rs 4.67 lakh crore in the previous fiscal. These zones have attracted investments worth Rs 4.33 lakh crore up to June this year, the data showed. The highest number of SEZs are operational in states like Tamil Nadu, Karnataka, Telangana and Maharashtra. Till September 7, the government has approved as many as 424 zones, of which 222 are operational. With an aim to promote exports from these zones, supplies from the domestic market to special economic zones are treated at par with exports under the Goods and Services Tax (GST) regime. EPCES has stated that SEZ developers and units receiving such supplies were required to pay duties first and then seek refund, which is a cumbersome process. Exports from SEZs and export oriented units (EOUs) contributed about 33 per cent to the country's total shipments.
Source : Financial Express
NEW DELHI: Core sector growth rebounded to a five-month high in August while manufacturing activity expanded for the second month running in September, providing some cheer for an economy that saw growth touch a three-year low in the June quarter. The data would have been factored in by the monetary policy committee ahead of the Reserve Bank of India announcing the policy on Wednesday. The core sector, comprising eight infrastructure segments, saw a 4.9% rise in output in August compared with 2.6% in July, data released by government showed. To be sure, the growth was driven largely by a sharp rise in coal and electricity output and wasn't evenly spread. Crude oil, cement and fertiliser declined. The core sector grew 3.1% in August last year. Increases in both output and new orders helped the manufacturing sector remain in the expansion zone with the Purchasing Managers' Index (PMI) coming in at 51.2 in September, the same as August. A reading above 50 on the index indicates expansion. The data will cheer the government following the criticism it faced over economic management after growth declined to 5.7% in the April-June period, triggering a downgrade in growth forecasts for FY18 to below 7% and calls for a fiscal stimulus. "September data painted an encouraging picture as the sector continued to recover from the disruptions caused by the introduction of the goods and services tax (GST) in July," said Aashna Dodhia, economist at IHS Markit and author of the PMI report. The two sets of data point toward positive news on industrial production for August, said independent economists. Factory output, as measured by the Index of Industrial Production (IIP), rose just 1.2% in July. The core sector has a near 40% weight in IIP. "Given the weight of around 40% in IIP, this number should translate into a higher number growth for the month with the destocking process getting reversed and could be in the range of 2-3%," said Madan Sabnavis, chief economist at CARE Ratings. The improvement in core sector output as well as automobiles along with the PMI reading portend an uptick in industrial growth, said ICRA principal economist Aditi Nayar. However, IHS Markit downgraded its real GDP growth for India to 6.8% in FY18 from 7.3% previously as the lingering effects of recent economic shocks continue to cast a shadow on growth, according to Dodhia. The government sees the slowdown as temporary, caused due to the combined effect of demonetisation and disruption owed to the launch of the goods and services tax (GST) on July 1. Infra Grows The spurt in coal and power obscured drops in other segments. Despite August being a monsoon month, coal production was at a 33-month high of 15.3%, aided by a favourable base effect and less rain in the coal-producing states of central India. Electricity output rose to a 16-month high of 10.3% in August. However, crude oil, fertiliser and cement production declined 1.6%, 0.7% and 1.3%, respectively, in August. Steel posted 3% growth.
Source: The Economic Times
The government has started work on rolling out a slew of new measures for small and medium sized enterprises, exporters and textile manufacturers, sources told Economic Times. The government has started work on rolling out a slew of new measures for small and medium-sized enterprises, exporters and textile manufacturers, sources told Economic Times. The sources said that a Cabinet meeting held on September 27 had discussed proposals about giving stimulus to these sectors, given that they haven’t performed to their optimum strength over the last few quarters. "Some important announcements aimed at giving a shot in the arm to these sectors will be made in the next few days," a senior government official told ET. BJP leaders Yashwant Sinha and Shatrughan Sinha recently spoke out against the prevalent slowdown in the Indian economy. GDP growth rate for the quarter ended June came in at 5.7 percent. In addition, the government is likely to take up proposed changes to certain items under various tax slabs in the next meeting and a possible revision in tax rates might be on the cards. The above-mentioned sources said that with the Gujarat elections around the corner, the Centre wants to set its affairs in order and address growing concerns about a slowdown in the economy in order to outweigh any anti-incumbency sentiment that might have gripped voters. The government is also likely to focus on strengthening nationalised banks in order to increase lending to small businesses and middle-class individuals. The sources addedthat the government will have tamed fiscal deficit by the time the Budget is next presented.
Source: moneycontrol.com
Praising various efforts for successful transition of businesses to the goods and services tax (GST) regime, Confederation of Indian Industry (CII) director general Chandrajit Banerjee has urged the government to extend the provisional input tax credit period by six months from the current two for convenience of micro, small and medium enterprises (MSME). That will help cross matching of invoices through the GSTN portal and also save the blockage of the working capital for the small players, he said. Filing of GST return may be made on a quarterly basis instead of every month as the MSME sector is still not well equipped with the required IT infrastructure and a qualified manpower, a recent CII press release quoted Banerjee as saying. Under the reverse charge mechanism (RCM), threshold exemption for payment of tax may be increased from the present Rs 5000 to Rs 50,000, which will help ease burden of excessive compliances. Format of returns may also be simplified, suggested Banerjee. The government may consider special initiatives for promoting exports, including by addressing teething troubles for exporters under the GST regime, he said. (DS)
Source : Fibre2Fashion
The Indian industry is looking up to the government to take a few extraordinary steps, such as relaxing the fiscal deficit targets and increasing public spending to boost investment -led growth, which would lead to more jobs and revival in consumer demand, the Associated Chambers of Commerce and Industry of India (ASSOCHAM) recently said. The chamber also wrote to the Reserve Bank of India and the Monetary Policy Committee to cut the interest rates at least by 25 basis points as the economy needs immediate measures for growth revival, ASSOCHAM said in a press release ahead of the credit policy review on October 4. In a letter to the RBI governor Urjit Patel, ASSOCHAM secretary general DS Rawat said as growth is slowing down and investment is not picking up, the economy is facing multiple challenges, consumers have cut down on spending and businesses have lost momentum. The recommendations come in the wake of concerns over slowdown in growth due to the transient disruptions in the economy following goods and services tax (GST) implementation and the remaining over-hang of demonetization. The situation requires immediate government intervention to minimize any disruptive impact of GST, said Rawat. As the effective exchange rate of the Indian rupee has appreciated against the country’s trading partners, it has adversely affected exports. Hence, RBI should target the real effective exchange rate. The chamber said. Problems being faced by exporters arising out of GST implementation should be immediately addressed, ASSOCHAM added. (DS)
Source: fibre2Fashion
With prices of raw cotton hovering just above the minimum support price (MSP), the Cotton Corporation of India (CCI) will not begin procurement activities in the state anytime soon. Market sources said procurement of cotton was already on peak, but its prices had not picked up this year. They said while the price of raw cotton hovered between Rs 4,800 and Rs 6,000 last year, the prices were much less since harvesting of the crop this year. The crop was sold today for Rs 4,350 in Sirsa, the biggest cotton producer in the state. In other markets too, the price was Rs 10 to 20 higher or lower than this. “With low prices and higher input cost than the last year, we want the government to provide us some relief. At least, the government can ask its own procurement agencies to buy our produce for remunerative price,” said Nand Kishore, a farmer from Ellenabad. The CCI, however, said since the prices were still above the MSP, the agency would not enter into procurement operations. “The prices are still higher than the cotton MSP, which is Rs 4,220 this year. We purchase the crop only when farmers sell it on the MSP and their crop meets the quality parameters. The crop must meet the parameters of the fair average quality prescribed by the corporation,” said Kamal Kant, administrative officer at the Cotton Corporation of India office in Sirsa. He said the CCI did not purchase any crop from Haryana even during the last two procurement seasons, as the prices remained much higher than the MSP. While farmers are concerned at the low prices of cotton, cotton ginners are happy with the present scenario. “The prices suit ginners, who have been suffering losses for the past five years. After purchasing raw cotton for Rs 4,350 per quintal, our ginned cotton is fetching us Rs 3,850 per bale of 170 kg and the cottonseed is selling for Rs 2,000 per quintal,” said Gurpreet Singh Nagpal, a partner in Royal Kotgin at Sirsa. Sushil Mittal, president, Haryana Cotton Ginners’ Association, said in the past five years, nearly 50 ginning units had been closed in the state due to losses.
Source: The Tribune
Despite the highest-ever cultivation of cotton, in about 19.09 lakh hectares or over 47.72 lakh acres, in Telangana this year the farmers have some reason to cheer since cotton production in the country is estimated to be lesser than last year and the second lowest since 2010-11. The lower production is stated to be on account of a couple of long dry spells during the vegetative growth and flowering stages of the crop. Prices of cotton in the open market have ruled on par with the minimum support price (MSP) of ₹4,160 per quintal for long-staple variety which is mostly grown in Telangana, or even better sometimes during the last year (2016-17). The Centre has fixed the MSP of ₹4,320 per quintal for long-staple variety for 2017-18. According to officials, production of cotton in the country was estimated at 330.92 lakh bales (one bale is equal to 170 kg) last year against the expected output of 322.73 lakh bales this year. The fibre crop production was 300.05 lakh bales in 2015-16 and it was 348.05 lakh bales, 359.02 lakh bales, 342.20 lakh bales, 352 lakh bales and 330 lakh bales, respectively, in the preceding years “We are expecting a production of about 28 lakh bales to 30 lakh bales this year in Telangana and the plans for carrying out smooth cotton procurement operations at MSP are already in motion beginning with the collection of cotton growers information by the District Agriculture Officers by October 5,” Agriculture Production Commissioner C. Parthasarathi explained adding that they had planned to complete issuance of quick response (QR) bar-coded identity cards to farmers in about a week’s time after October 5. Mr. Parthasarathi, who is also the Secretary Agriculture, said the bar-coded identity cards would ensure speedy processing of cotton disposal by farmers at the procurement centres of the Cotton Corporation of India (CCI). Agriculture Department officials stated that the average yield of cotton could be less this year compared to last year when it was about 6 quintals per hectare due to a couple of long dry spells during the vegetative growth and flowering stages of the crop. The officials said the fibre crop production was about 29.36 lakh bales last year and 37.33 lakh bales, 35.83 lakh bales and 42.65 lakh bales in the preceding years, respectively. Meanwhile, official sources stated that the CCI had agreed to open 111 procurement centres against 84 last year. The State Government has sent proposals for opening 143 purchase centres in the wake of increase in the cultivation of cotton this year. The officials expressed hope that some more purchase centres could be allowed at ginning mills. The CCI procurement centres are likely to start functioning from October 10 based on the cotton arrivals.
Source: The Hindu
Khadi is not just a fabric. It is was a revolution. Several decades ago, Mahatma Gandhi popularised it as the symbol of self-sustenance, a position it still holds. But, in the recent years, the humble material, which was earlier often referred to as the ‘poor man’s fabric’, has been given a new lease of life. It is no more a forgotten piece of cloth living in its past glory. Instead, Indian designers have worked hard to give khadi a western spin in order to make it more acceptable by the younger generation. In addition to that, PM Narendra Modi’s push to popularise khadi has given it the much-needed impetus. As a result, the sales have increased, and so has its dwindling importance. Today, you can see khadi as an everyday outfit and even as an occasion wear.
Source: Times Now
Fast fashion brand Zara is all set to begin its online sales in India, one of the world’s fastest growing ecommerce markets, beginning from October 4. This is in line with the ongoing international expansion of its integrated store model. Spanish based retailer will be selling its products throughout the country via website and mobile application. Zara has more than 2,200 stores in 93 countries and is the flagship brand of the Spanish multinational Inditex Group. The range found in all the 21 stores of Zara across eight Indian cities will be available online for selling, said Echevarria Hernandez, chief communication officer of Inditex, said in a statement. In a span of 2-4 working days, the deliveries will be made to metro cities including Mumbai, Delhi, Ahmedabad, Kolkata, Chennai, Hyderabad and Bangalore, while for the remaining areas, it will take around 5-8 working days. For effective delivery system, Zara has joined hands with Gati Ltd, Delhivery Pvt. Ltd and Blue Dart Express Ltd. The standard delivery charges for orders worth less than Rs 4,000 will be Rs 299, with exchange and return for free, the company said in a statement. For better working of the online service, Zara will work with a warehouse in Delhi with around 50 employees. Zara emerged as one of the fast growing lifestyle apparel brands in India and reported sales of Rs 842 crore in fiscal 2016, up 17 per cent over fiscal 2015. (RR)
Source: Fibre2Fashion
New Delhi: Global cotton output is likely to rise 10% to 25.4 million tonnes in 2017-18 marketing year on expected production increase in India and the US, a global body has said. The production may go up mainly because of expansion in acreage by 3 million hectares to over 32 million hectares across the world, according to International Cotton Advisory Committee (ICAC). The worldwide output of the cash crop stood at 23.05 million tonnes (mt) last year. India’s marketing year runs from October to September. The acreage has increased due to better cotton prices in 2016-17 and higher cotton price ratio to other competing crops during this year, ICAC said in a report. China, India and the US are the world’s top three cotton producing countries. As per ICAC, the global cotton consumption is projected to increase 2.7% to 25.22mt this year from 24.56mt last year. “Mill use in China is projected to grow 1.5 % to 8.1mt. Cotton mill use is also projected to grow moderately in India, Pakistan, Turkey, Bangladesh, Vietnam and Brazil,” the report added. As far as cotton trade is concerned, it is likely to be stable at 8mt in 2017-18 marketing year. The US will remain the largest exporter accounting for 40%, or 3.1mt of the world’s shipments. Bangladesh will remain the largest importer in 2017-18 accounting for 18%, or 1.4mt of the global imports, ICAC said. Since global production is projected to edge over mill use during 2017-18, ending stocks could increase moderately and reach 18.7mt with stocks to use ratio remaining little changed at 75%. “However, ending stocks in China are projected to decline by 1.7mt during 2017-18, while outside China stocks are projected to increase by 1.85mt,” the report noted. ICAC is an association of governments of cotton producing and consuming countries.
Source: Livemint
KARACHI: Muhammad Jawed Bilwani, chairman Pakistan Apparel Forum (PAF), on Tuesday urged the government to restore the separate and dedicated ministry for textile industry, so that the issues of the sector can be resolved speedily. “The actions of the government that claims to be “business friendly” have proved “anti business”, as there had been no significant improvement in the economy during its tenure, which is ending in a few months,” Bilwani said in a statement. “It has failed to achieve the desired aims and objectives to enhance exports, strengthen the economy, and facilitate the business and industrial community.” Bilwani said it was so highly regrettable that the post of federal minister for textile industry remained vacant for last several years and now the textile and commerce ministries have been rolled into one. “The commerce portfolio is itself significantly important as it is tasked with enhancing trade while it has to also look after the affairs of 14 organisations working under its ambit,” he said adding, “Under these circumstances the commerce ministry cannot pay textile ministry attention it deserves.” The PAF official said the ministry of textile industry was established on the ethical and genuine demand of the value-added textile export sector.
Source: The News International
The Zimbabwe Textile Manufacturers’ Association has appealed to the government to prioritise the textile industry by timeously disbursing foreign currency to ensure members meet their obligations and remain in business. As the current liquidity crisis continues to bite, the government undertook to assist some struggling companies so that they access foreign currency with ease. People have resorted to buying foreign currency on the black market at exorbitant rates, thereby distorting prices on the market. Others were hoarding cash for speculative purposes. Zimbabwe Textile Manufacturer’s Association secretary-general Raymond Huni yesterday said the textile industry needed urgent intervention to avert a total collapse. “The Zimbabwe Textile Manufacturers’ Association is receiving complaints on a daily basis from textile companies regarding accessibility of foreign currency. We need the government to allocate them foreign currency just like what is happening in other sectors,” Huni said. “We have a situation where the biggest blanket and linen manufacturer is struggling to get foreign currency to remain in business. The company supplies blankets to the army, hospitals, hotels and schools and is obligated to the nation for the supply of blankets and bedding accessories. “The company has a staff complement of 800 people who are at risk of losing their jobs if the company fails to get money to purchase raw materials.” Huni said there were similar complaints from hosiery manufacturers and that the situation was getting out of hand and expressed fear that should nothing be done immediately they would be faced with a disaster as the matter required the immediate intervention of government. “As the textile industry we are appealing to the Reserve Bank of Zimbabwe, Ministry of Finance and that of Industry to consider allocating forex to genuine manufacturers for raw materials that are not available locally,” he said. “Once there is easy access to foreign currency, our industry will start exporting and earn the much-needed foreign currency.” The association said the government should also consider raising the export incentive from 5% to 25%.
Source: Newsday
Since January 7, 2017 when the president, Nana Addo Dankwa Akufo-Addo took over the leadership of the country, I have observed keenly with interest and respect the selection of attires he wears to events, programmes and functions. At his inauguration on 7th January, 2017, the president appeared at the swearing-in ceremony wearing a Kente cloth, depicting the rich cultural heritage of Ghana. After his inauguration on Independence Day which coincided with Ghana's 60th anniversary, president Akufo-Addo was spotted wearing a white smock, known as fugu, a traditional wear of northern Ghana- but has evolved with time to become 'batakari' in southern Ghana. At occasions organized by the state and private sector organizations, His Excellency has been spotted wearing 'Made-in Ghana' Print, as we prefer calling it. The just-ended ECOWAS tour aimed at establishing and rekindling Ghana's relationship with member countries to foster trading activities among members in the sub-region saw the president telling his neighbours he is a proud Ghanaian through his Ghana-made attires worn to most of the countries he visited including Togo, Burkina Faso and Côte d'Ivoire. Vice President Dr Mahamudu Bawumiah, the first and second ladies of the Republic, some Ministers of state, including Trade and Industry Minister, Mr. Alan Kyeremanteng, Fisheries and Aquaculture Minister, Hon. Elizabeth Afoley Quaye and Tourism and Creative Arts Minister, Hon. Catherine Afeku, among others have also been spotted wearing African Print while performing their national duties. What could have informed the decision of our leaders, notably the president, to showcase African print as their preferred attire on official assignments, at the expense of a French wear, or a 3-Piece suit? Let as now take a look at the textile industry in Ghana, since they do the printing of these African attire we wear. Importance to economyThe textile industry was once about the most important industrial player in the world's economy after tourism and information technology. In November 2004 for example, approximately 342 billion US dollars was the estimated monetary value generated in the textile industry globally In Ghana there are about 67 recognized textile industries some of which are Tex Styles Ghana Limited (GTP), Juapong Textiles, Volta Star, Ghana Textile Printing Co. Ltd., Akosombo Textile Company Limited (ATC), Premiere African Textile, Bowman Kente Weaving Enterprise and Printex, among others. The textile industry is of tremendous importance to the country's economy, namely the provision of jobs for the people, especially people in the rural areas and generation of revenue and income to both government and persons involved in the weaving and production of textile products, leading to a rise in living standards. With money in hand to the weaver; he or she can buy whatsoever he or she wishes to have in life, thus raising their living standards. It has also helped in the establishment of infrastructures such as building of textile industries. Indeed available statistics indicate that the textile industry in Ghana was once booming and provided employment for over 25 thousand workers.
Challenges
In recent times, the textile industry in Ghana is saddled with challenges which saw most of the industries shutting down or folding up, rendering workers redundant. Notable among the challenges is the low patronage of Made-in-Ghana textiles products by Ghanaians over the years. Many Ghanaians have the notion that Made-in -Ghana products are inferior, relative to European products; thus their desire to be seen wearing them vary from each individual, depending on their fashion sense, age, class and other societal considerations which go in favour of the developed world and to the detriment of the Ghanaian fabric. The importation of fabrics from China, Holland and other developed countries is also a factor. Economies of scale enjoyed by countries classified to be in the first world allow industries to produce at a very low cost. Hence these imported goods come to the Ghanaian market at a lower price. Another challenge is the domination of foreign outfits including 'already made wears commonly known as "obroni wawoo" which are comparatively cheaper. One can also point to another setback in the sector as the cost of the finished products or materials as against imported ones. It is a known fact that textile traders are mostly adamant when it comes to cutting the fabric into smaller yards for customers thus buying the full piece wards off customers because of the price and less need for such volume of fabric.
Textiles - Government's Intervention
Over the years, various governments have tried making the textile industry vibrant to help make it a major player in the economy. Former President Kuffour instituted a 'National Friday Wear Policy ' in November 2004 which was championed by the Ministry of Trade and Industry under the leadership of Alan Kojo Kyeremateng. The initiative was aimed at projecting a unique Ghanaian identity through the use of local fabric and designs as a corporate wear. This was followed by a failed attempt by the Ministry of Trade and Industry to move a step ahead to make the Ghana fabric an everyday wear under the leadership of Hanna Tetteh--the attempt failing as a result of attitude and negative conceptions about the fact that the Ghanaian fabric and designs are not corporate enough to be used every day. Lately, government has put plans in place to curb the influx of textiles products from across the world and other African countries to help boost the sales and patronage of Ghana made textiles. Government has also tried in its intervention to boost the textile sector, to allow only one entry point for textiles and textile products-- Takoradi port which is known as the single import corridor --to check the inappropriate entries of textiles through unauthorized routes and also a physical examination of such textiles to ensure that quality standards are adhered to. Aside the measures mentioned above, a task force was set up to check illegal entry of textiles and as well protect the intellectual property of Ghanaian textile designers by encouraging designers and stakeholders to register their designs to avoid it being stolen and printed by other countries. As the saying goes, "leadership by example", President Akufo-Addo after assuming office as Head of State can be said to be championing the 'National Everyday Wear Policy agenda' as he can be seen wearing it everyday, which I believe has compelled his Ministers to follow suit.
TEXTILES -BENEFITS
The move by the president, no doubt, has implications for individuals in the textile business, factories and the entire economy. First, it has the potential of marketing Ghana positively through foreign exchanges, increased sales and employment creation and also an available ready market for Ghanaian textiles across the continent. The fabric, which is suitable for the harsh weather conditions, also brings health benefits since weather patterns vary from one country to another. The textile fabric in sub Saharan Africa and can be a protective shield against excessive cold weather depending on the styles and shapes adopted in sawing to suit the weather conditions.
Conclusion
There is an important need for all to endeavor to rally behind our president to sell, promote, and engender the cause of wearing fabrics made in Ghana to boost our textiles and cotton industries, enhance trade and foreign exchange and stimulate good health among its populace in line with the temperature of West Africa. President Akufo-Addo has actually walked the talk in reference to his popular slogan "I believe in Ghana".Believing in Made-in-Ghana textiles-- we can build a collective better Ghana through wealth creation across the world thus discourage people from copying other cultures without thinking-- swallowing everything western hook, line and sinker. It is time Ghana and, therefore, Ghanaians abandon that path and endeavor to instill in our future leaders some sense of patriotism which include teaching and allowing them to express themselves in the Ghanaian language, (ewe,ga,twi,dangbani, krobo) among others; eating Ghanaian dishes (banku, akple, abolo, yakayakey, kenkey, red red, ampesi) and other delicacies, as well as inculcating in them Ghanaian values and norms which would keep the Ghanaian flame ablaze for all generations to come.
Source: Press Release B
The country’s Ministry of Industry and Trade said global demand for textile garments fell in the first eight months of the year. “Wages for workers and logistics costs have been rising, putting local garment exporters under pressure, particularly in the face of fierce competition from regional rivals like Bangladesh, Myanmar and Cambodia,” according to local reports from The Voice of Vietnam. Part of the problem with Vietnam’s competitors, according to the article, is that they’ve enjoyed preferential policies from their governments—including things like tax breaks to boost exports—where Vietnam hasn’t had as many of these perks. They’ve also enjoyed preferential trade status from major trade partners like the U.S. and EU, something the Trans-Pacific Partnership would have afforded for Vietnam with its exports to the U.S. As such, the Ministry of Industry and Trade in Vietnam is in the process of drafting legal amendments designed to help domestic garment producers cut costs, and they’ve alsoimplored state agencies to support domestic textile and garment exporters with things like administrative procedures to help ease some of the other obstacles to competition. Chairman of the Vietnam Textile and Apparel Association Vu Doc Giang said the sector aims to export roughly $30 billion worth of textiles and garments in 2017, with the U.S. taking 50 percent of that total, followed by the EU with 20.5%, Japan with 19.5% and Korea importing 7.5% of Vietnam’s garments and textiles. The U.S. has taken in $6.8 billion worth of textiles and apparel from Vietnam for the year through July, a 5.36% year over year increase, according to OTEXA data. In 2016, U.S. imports totaled $11.3 billion, which was a 2.27% increase over 2015. For the year through August, according to The Voice of Vietnam, the country’s exports reached $19.8 billion, but the Ministry is concerned the $30 billion target won’t be reached since the bulk of the country’s big orders have likely already been placed. No timeline has yet been made available for when some of these cost cuts could take effect, and it remains to be seen whether these cuts will be passed on to companies sourcing in Vietnam.
Source: Journal Online
ADDIS ABABA, Africa's main trade show for cotton, textile, apparel, home and technology industries kicked off in Ethiopia's capital Addis Ababa on Tuesday. The African Sourcing and Fashion Week, which will last toward Friday, has gathered some 230 international producers and exporters from 25 countries, the organizers Trade and Fairs East Africa and Messe Frankfurt indicated Tuesday. Among the variety of products showcased at the trade show include apparel fabrics, leather goods, fashion and fashionable accessories. Home and household textile providers are also among exhibitors as part of the event. According to the organizers, the exhibitors are drawn from countries such as Turkey, the United Arabic Emirates, Tanzania, Sri Lanka, Bangladesh, India, Italy, Germany and the host nation Ethiopia. The 4-day event, as part of its opening day program, evaluated Ethiopia's Hawassa industrial park, in which panelists indicated the industrial zone as a "model of sustainability" in Africa's textile and garment industry sector. Digital sourcing was also major discussion topic during the event as a new sourcing opportunity for the African continent and of Industry, Ethiopia has earned close to 90 million U.S. dollars from the textile and garment sector during the just concluded Ethiopian 2016/2017 fiscal year, largely from industries installed in newly built industrial parks across the country such as the Chinese-built Hawassa industrial park. The textile and garment industry sector, which represents the lion's share of Ethiopia's growing manufacturing sector, has been given due emphasis in Ethiopia's second five-year Growth and Transformation Plan (GTP-II), due effective from 2015 to 2020.
Source: Xinhua
Islamabad : The Ministry of Commerce and Textile has assured the timely payments through Prime Minister “Trade Enhancement Package” of Rs 162 billion to the Textile sector by June 2018 to enhance the country’s exports. “We had paid Rs. 9 billion out of total of Rs. 15 billion for last fiscal in shape of duties draw backThe government has accorded priority to the textile sector and helped it to gain to textile sector,” senior official of ministry of commerce and textile told APP here on Monday. Replying to a question, he said the government had planned to in order to enhance the country’s exports,he said. “We want to revive confidence of the textile sector through the trade enhancement package.”, he remarked. expand coverage areas. The government, he said, had also given relaxation on the import of textile of the Trade Enhancement Package” to remaining industrial sectors including pharmaceuticals. “We are committed to providing an enabling environment for the industrial sector,” he said. machinery for the modernization of industry and to enhance the capacity of the sector. The official said that through this package cost of doing business. While talking to APP, General Secretary of All Pakistan Textile Mills Association (APTMA) Anis-ul- Haq stressed the need for providing competitive would come down in the country. General Secretary APTMA said that pragmatic and export led policies were required for industrial growth and enhancing the country’s exports.—APP for textile sector to enhance the country’s trade. He emphasised on structural balance and viability of industry to compete with regional competitors including India, Bangladesh and Vietnam.
Source: Pakistan Observer
The Earned Import Allowance Program (EIAP) is not offering enough incentives to significantly boost Dominican apparel exports to the United States eight years after it was implemented, according to the US International Trade. Commission (USITC). The decline is due to increased imports from Haiti and more competition from other Western hemisphere suppliers. In 2016, US imports of woven cotton bottoms from the Dominican Republic fell 57 per cent by value to $3.5 million from $8.2 million in 2015 and fell 61 per cent by quantity to 745,000 square metre equivalents (SMEs) from 1.9 million SMEs in 2015, the USITC said In its publication ‘Earned Import Allowance Program: Evaluation of the Effectiveness of the Program for Certain Apparel from the Dominican Republic; Eighth Annual Review’. The review was submitted to the US House of Representatives Committee on Ways and Means and the US Senate Committee on Finance on September 28, said a recent USITC press release. The EIAP allows apparel units in the Dominican Republic who use US fabric to manufacture certain apparel to earn a credit that can be used to ship eligible apparel made with non-US fabric into the United States duty free. Haiti offers lower labour costs and trade preferences that provide more sourcing flexibility and coverage for a wider range of products than the EIAP. A tariff preference level (TPL) for woven apparel from Haiti allows the use of third-country fabric up to a specified level, according to the USITC review. The Dominican Republic-Central America-United States Free Trade Agreement Implementation Act, as amended, requires the USITC, an independent, non-partisan, fact-finding federal agency, to evaluate annually the effectiveness of the EIAP program and make recommendations for improvements. USITC recommended lowering the 2:1 ratio of US to foreign fabric to 1:1, expanding the EIAP to enable other kinds of fabrics and apparel items and changing the requirement that dyeing and finishing of eligible fabrics occur in the United States.
Source: Fibre2Fashion
