The impact of GST has led to orders drying up this year, especially from north and central India wholesalers this season. The latest revision in Goods and Services Tax (GST) rates that were announced on October 6 may have come a tad late, with the Surat textile market sitting on a huge inventory, say traders. While the market may have gone on vacation, the peak Diwali season dispatch was only 15-20 per cent of normal. As against a typical Rs 10,000-12,000 crore worth of business during Diwali through dispatch of 1,500 trucks daily for a fortnight, the same has been down to mere 15-20 per cent, say traders who will take a call on a strike on October 25 once they resume work after the festival. "This is the first time we are seeing such a Diwali this year. In the last fortnight or so, which sees peak of Diwali dispatches, business has been merely 15-20 per cent of a typical season," Tarachand Kasat of the Surat-based GST Sangharsh Samiti and a leading textile trader told Business Standard. In the last few years, Surat has been dispatching textile goods through 1,500 trucks daily for a fortnight worth Rs 60 lakh each. However, the impact of GST has led to orders drying up this year, bringing down the daily dispatches substantially. According to local textile traders, not only have orders dried up during Diwali, especially from North and Central India wholesalers, but also resulted in an inventory worth hundreds of crores of rupees lying in Surat. "Surat could be sitting on an inventory of at least Rs 500-800 crore which is unusual," said a leading trader on condition of anonymity. As a result, around 150 wholesale textile markets stayed away from celebrating Diwali festival by decking up their offices. "The otherwise lit up textile markets during Diwali are gloomy this year. Traders have deliberately shunned lighting up their offices across 150 of the total 250 textile markets," Kasat added. The powerloom industry which has shut shop for Diwali vacation is unsure how many units could resume production post festival. "Many weavers are yet to decide whether to resume production or not. We may see an extended vacation in powerloom industry this Diwali," said Nikhil Godiwala, a powerloom owner in Surat. As for traders, Kasat said that while the community intends to resume work from October 25, it will decide on whether to call for a strike depending on the business scenario. "The October 6 revision in GST for textiles has not fully addressed the issue in Surat synthetic textile market. With only 15-20 per cent business this Diwali, this is one of the worst festive seasons that one has seen. We will decide on whether to call for a strike or not once the market resumes," Kasat said. There are 650,000 powerlooms, 150-200 wholesale textile markets, 20,000 manufacturers including 10,000 weavers, 75,000 traders, 450 processing units, and 50,000-60,000 embroidery machines in the Rs 50,000 crore synthetic textile hub of Surat. However, this year the synthetic fabric production in Surat had fallen from 40 million metres per day to 20-25 million metres per day in the first three months of GST rollout.
Source: Business Standard
Surat: While majority of textile markets in the country's largest man-made fabric (MMF) wholesale market have been observing 'Black Diwali' by not illuminating their respective market buildings as mark of protest against the Goods and Service Tax (GST), the organized players have come out and stated that Diwali sales were good compared to previous year. Nearly 20% of the traders feel that this was the most vibrant Diwali for them in the last five years. The reason being that the biggest problem of returned goods was over, payment issues were solved and that the cases of defaults was reduced after GST was implemented from July 1. Owner of Manbhari Prints at Surat Textile Market (STM) Narendra Saboo told TOI, "The organized players like us feel that GST has proved beneficial for the textile trade. Those who were operating business applying wrong practices are facing problems. Around 70% of the traders in the markets are unhappy as they do not want to comply with the GST." Saboo stated, "The biggest issue of defaults in the textile market will reduce to a great extent after Diwali. Now, the traders, weavers and textile processors will deal with those having the GST registration. The GST transactions will be recorded by the government and its agencies. However, there are less chance of fraud and cheating." Managing director of Laxmipati Group Sanjay Saraogi said, "This time Diwali sales is much better than the previous year. We have received huge orders from other states and even abroad. Now, we feel that it is a win-win situation for the traders as entire trade has come under the tax net." On the other hand, a large section of traders' community is criticizing the central government for its false promises on resolving the GST issues. The textile traders questioned BJP MLA from Majura constituency Harsh Sanghavi after he posted a picture of one of the textile markets illuminated with colourful lightings. "The BJP MLA is trying to portray that all is well in the textile industry, but he is wrong. He doesn't know the ground reality. The entire traders' community, barring the organized players, is worried over the GST compliance," a textile trader said.
Source: The Times of India
NAGPUR: US giant Monsanto, which sells genetically modified seeds in India, had informed the Centre about the illegal sale and cultivation of herbicide tolerant (HT) variety cotton in 2008. According to Delhi-based South Asia biotechnology centre (SABC), a body comprising well-known retired agriculture scientists engaged in transferring technology to farmers, Mahyco-Monsanto Biotech (MMB) India Limited had alerted the Genetic Engineering Approval Committee (GEAC) about the illegal sale but the Centre chose to sleep over it. A letter written by MMB's director Rajendra Ketkar dated September 8, 2008 had said that HT cotton was being "grown without the statutory approval of GEAC. The farmers were being offered cotton seeds with HT trait at a premium without valid documents and safety assessment which may impact the produce".Currently, HT cotton is grown in about 8.5 lakh hectares in four major cotton-growing states of the country - Gujarat, Andhra Pradesh, Madhya Pradesh and Maharashtra. SABC sources said the HT cotton packets did a business of Rs 472 crore this season. The letter, a copy of which is with TOI, mentions the names of the cultivators engaged in growing HT cotton seeds. There were 253 cultivators just in Gujarat. Locator maps where cultivation was taking place clandestinely and the route of smuggling of the seeds too were provided in the report to the government. MMB, the Indian arm of US seed giant Monsanto, had also told GEAC in the letter that it had informed the State Biotechnology Coordination Committee (SBCC) of each of the affected states. The letter had asked the SBCC to confirm the illegal activity and take "appropriate legal action to ensure such activities are terminated in the interest of the farming community as well as the environment".The company sent another reminder on November 7, 2008, asking SBCCs to take necessary action under the Environment Protection Act laws and as authorised by the gazette notification of the ministry of environment and forests. Today, desperate farmers, looking for lower input costs, are willing to pay Rs1200-1,500 per packet for HT seeds, when the price for Bt cotton at Rs 800 per packet. On Tuesday, Andhra Pradesh formed a three-member panel to investigate how 15% of the state's cotton acreage has been planted with HT seeds. The panel will submit its report within 15 days. On October 5, the state had issued an order that was to inspect fields growing the legally permitted Bollgard II but that order was withdrawn on Friday. Kishor Tiwari, chairman of the Vasantrao Naik Shetkari Swablamban Mission (VNSSM) which is a Maharashtra-appointed body, claims that this year in Yavatmal district about 6.5 lakh packets were sold by agents from Gujarat. "There is a need to legitimise technology. Government should call for an open discussion between experts, scientists, activists to clean up the mess that it has created," he said. On Monday, GEAC chairperson Amita Prasad told TOI that following reports in the media the committee had written to Indian Council of Agricultural Research.
Source: The Times of India
The Karnataka government has taken up the cause of getting relief to handmade textiles and products under the Goods and Services Tax (GST) regime. In a letter to Union Finance Minister Arun Jaitley, Chief Minister Siddaramaiah said, “Handmade products of various kinds are produced by millions of artisans and poor rural households in India. Imposition of GST on such products has had an adverse effect on the livelihood of artisans.” Siddaramaiah’s letter comes after he received a representation from a committee constituted by Gram Seva Sangh, which had mentioned that the imposition of the GST on such products has had an adverse effect on the livelihood of artisans engaged in producing these products. Chief Minister said, “Livelihood of artisans is at stake and a very critical issue that the GST Council should take note of and decide on a priority basis.” The next GST Council meet is scheduled for November 9 in Guwahati. Siddaramaiah’s letter to Jaitley comes even as veteran theatreperson Prasanna’s hunger strike against taxation of handmade products entered its sixth day in Bengaluru. “I have received a representation from a committee constituted by the Gram Seva Sangh and consisting of noted activists, including Ashis Nandy, Uzramma and Shyam Benegal, seeking exemption of various handmade products sold by producer cooperative societies and their federations,” the Chief Minister wrote.
Source: Business Line
Pune: Prices of quality cotton crop are likely to remain above the minimum floor price set by Maharashtra until early January, offsetting the impact of increasing supplies of the summer-sown textiles fibre. Demand from local mills and exporters should keep the prices of dry and quality cotton higher than the minimum price set by the government, traders said. The Cotton Corporation of India is set to open its procurement centres in major cotton-growing states. However, traders from Maharashtra, the second-largest cotton producer, believe that prices may not drop much below the minimum support price until December-January. “We expect cotton prices to remain between Rs 37,000candy and Rs 38,000candy (each candy of 356 kg) in December,“ said BS Rajpal, a Maharashtra-based trader. At present, prices range from Rs 38,200 to Rs 39,000. With the arrival of new crop slowing down after the October rains, prices had increased marginally. However, prices stabilised soon as the cotton now available has higher moisture content. “Cotton prices have been declining gradually. After rising for a short while due to the recent rainfall, prices have again fallen back to their earlier lev els,“ said J Thula sidharan, chair man, Indian Cotton Federation. Pakistan, a tradi tional buyer of In dian cotton, has currently banned cotton imports from its neighbour. However, trade sources say that Pa kistani businesses have demanded the resumption of cotton imports from India. In the medium to long term, Indian traders are keeping an eye on China. As cotton-producing countries expect a bumper crop, a fall in global prices should induce Beijing to procure. That should provide a pricing floor for the Indian output.
Source: The Economic Times
Scores of cotton farmers in Haryana and Punjab are practicing pesticide-free farming and have managed to escape the wrath of gruesome pests like whitefly, bollworm and mealy bugs while producing great harvests. For those in the agricultural sector, the need to protect the crops from pest and insect attack is as crucial as the initial stages of crop growth and pertaining care. And even if one sprays pesticides endless number of times, there will always be a small percentage in the harvest that would inevitably be infested with pests and be rendered useless. Talking of pesticides, it is now common knowledge that these are not just harmful for the environment but also prove hazardous for human beings through repeated consumption of pesticide sprayed vegetables and fruits and poisoning. Also, it has been observed that following years of extensive usage, the target pests have ended up developing immunity from the pesticides, which has sent pesticide developers in a scurry to concoct different mixtures for tackling the infestations. Now contrary to common perception, not all insects attack the crops. Just the way there is a distinction between good and bad bacteria, insects also play a vital role in crop development that remains largely unexplored or probably ignored in India. Understanding this symbiotic mechanism, scores of cotton farmers in Haryana and Punjab are practicing pesticide-free farming and have managed to escape the wrath of gruesome pests like whitefly, bollworm and mealy bugs and produce great harvests. It was Dr Surender Dalal, an agricultural scholar from Haryana, whose research and study understanding insect management helped spearhead the movement that has come to benefit hundreds of farmers in reaping healthy crops. Hailing from a completely different pedagogy, the man spent years understanding and advocating against the use of pesticides and raising insect literacy amidst the farmers in the region.
Dr Surender Dayal. Source: Blog.
The man is no more but the farmers who had learnt the art of maintaining insect equilibrium by letting benign insects take care of the pests have now founded a school, whose aim is to inculcate as many farmers about the perks of ditching the pesticides and increase insect literacy through on-field classes.
Dr Surender Dalal Kisan Khet school not only has farmers amidst its workforce but driven youngsters from completely different backgrounds as well, who have coupled up to raise awareness about the practice. “At a time, we organize close to 20-25 classes in different villages across Punjab and Haryana. When we had started, there were close to a hundred farmers, but today we have over a thousand farmers across both the states who have ditched pesticides and managed to reap highly profitable yields,” says Gaurav Taneja, an engineer who now works as a non-teaching staff in a Government school and spends considerable time organizing classes for the farmers. Gaurav also mentions that amidst the learners, a lot of farmers are women who have taken such interest in the programme that they have even composed songs that elucidate over the benefits of the benign insects.
Women farmers in Radhana village, Haryana. Source: Blog.
The classes focus on the winter crop cycle, which is the ideal period for cotton crops, and stretch over a period of six months. “The practicing farmers spend a considerable time calculating the number of insects in farms and compare the average with economy threshold level (ETL) followed by agricultural institutes worldwide. We also ensure that the number never crosses the ETL,” explains Gaurav. Apart from insect management and literacy amidst the farmers, the school also helps illuminate the harmful farming practices that pose a serious threat to the ecology.
Inspecting the number of insects. Courtesy: Gaurav Taneja.
“The response has been quite positive. We found that the farmers who have quit using pesticides had managed to reap a benefit close to ₹1.8 crores. Witnessing the change for themselves, more farmers are beginning to take notice and willing to adopt the practice,” he proudly mentions. Keeping the legacy of Dr Surender Dalal alive, the school hopes of reaching out to as many farmers as possible. Propagating responsible farming, the practice is not just a bid to produce better crops but also conserve insect ecology and the biosphere, as a result.
Source: The Better India
MUMBAI: In a first-of-its-kind initiative by a fibre producer, Aditya Birla Cellulose is grooming advisors, who will engage with consumers in retail stores across the country. The move, which is in line with the government’s Skill India programme, intends to train about 300-400, 12th standard girls aged 17 to 20 and train them with skills to create awareness about the fabric, designs, styles and other elements. The company has currently tied up four large-format stores namely — Pantaloons, Shoppers Stop, Central and Reliance Trends — who will absorb them after the training period. The first batch includes 267 girls along with 35 supervisors cherry-picked from across 30 cities and are being placed in 251 stores across the country. “We have hired an agency to train them on finer aspects of how to engage with consumers. They, along with supervisors, will be in the market for 45-60 days and will then be placed in retail outlets after that,” Manohar Samuel, president (marketing & business development), Aditya Birla Cellulose told Express. He added that every season the company has plans to groom about 300-400 fashion designers. The company’s Liva brand of fabric, which was launched in March 2015, is now being used by over 30 women apparel brands like W, Biba and Auerlia. As per its consumer survey, around 97 per cent women are believed to like the bio-degradable cellulose fabric. It is one of the world’s largest makers of viscose fibre, which is also used by multinational brands like H&M and Marks & Spencers. “As a business, we firmly believe that consumer drives consumption and there are insights from consumers, which need to be taken though he may be five steps back in the value chain,” reasoned Samuel.Currently, Liva has presence in five categories like sarees, stoles, knitted tops, leggings and lounge wear and could soon be expanded to other product categories.
Source: The New Indian Express
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$ 56.07 per barrel (bbl) on 19.10.2017. This was lower than the price of US$ 56.59 per bbl on previous publishing day of 18.10.2017. In rupee terms, the price of Indian Basket decreased to Rs.3648.31 per bbl on 19.10.2017 as compared to Rs. 3681.75 per bbl on 18.10.2017. Rupee closed unchanged at Rs. 65.06 per US$ on 19.10.2017 as compared per US$ on 18.10.2017. The table below gives details in this regard:
|
Particulars |
Unit |
Price on October19, 2017 (Previous trading day i.e. 18.10.2017) |
|
Crude Oil (Indian Basket) |
($/bbl) |
56.07 (56.59) |
|
(Rs/bbl) |
3648.31 (3681.75) |
|
|
Exchange Rate |
(Rs/$) |
65.06 (65.06) |
Source : PIB
Lighthouse Advisors India Pvt Ltd, focused on growth investments in India's consumer sector, recently announced that funds affiliated with the firm have invested Rs 760 million in V2 Retail Ltd, a pure play apparel value retailer with a focus on tier II and tier III Indian cities. The investment will be used to accelerate V2 Retail's store expansion plans. V2 Retail has 44 stores across 13 states in India and targets reaching a store count of 100 in the next two to three years, according to a Lighthouse press release. The company wants to penetrate further into its significantly under-penetrated core markets, such as Bihar and Uttar Pradesh, due to a large number of high potential Tier II and III cities, according to Retail chairman and managing director Ram Chandra Agarwal. India has added more than 400 million middle-class consumers over the past 15 years who are driving consumerism in India and V2 Retail is well positioned to cater to this aspiration, said Sachin Bhartiya, partner, Lighthouse Advisors. (DS)
Source: fibre2Fashion
Sutlej Textiles and Industries Ltd (STIL) has announced the acquisition of design, sales and distribution business and brand of American Silk Mills (ASM) LLC based at Plains, Pennsylvania. The acquisition of American boutique designer and distributor of residential and contract furnishing textiles will add strength to Sutlej’s home textiles portfolio. However, ASM will continue to design, develop and market its products under the brand name of American Silk Mills thus furthering its legacy as a leader in this field for over 120 years. Founded in 1896, ASM is amongst the oldest and most established American textile brands which designs, weaves and distributes innovative textiles for the residential, contract, transportation, and specialty markets. These products include innovative indoor/outdoor performance fabrics, fine jacquard textiles, multiple grades and styles of velvets, the highest quality silks, and Sensuede, an eco-friendly synthetic suede noted for its durability, cleanability and long-lasting comfort. ASM offers strategic fit on its strength of original designs based on American sensibilities, innate understanding of customer markets and a unique product portfolio that include dobby, jacquards, velvets, suedes using variety of fibers like rayon, linen, cotton, polyester, silk and acrylic. “American Silk Mills offers great synergy to access the American home textiles market using a sound platform of design and development combined with Sutlej’s scale and economics of production in India,” said SK Khandelia, president, STIL, in a press release. “We are excited to partner with Sutlej Textiles,” said Cynthia Douthit, president of American Silk. “Increased investments in our infrastructure, inventory positions, technology and creative capital will position us to continue as a design leader, allow us to service our customers more efficiently and create and source enduringly beautiful textiles.” (RKS)
Source: Fibre2Fashion
Textile industry players in the region have been challenged to start making garments that require low level technology and skills as the East African Community (EAC) countries prepare to phase-out imported used clothes. Lilian Awinja, the Executive Director of the East African Business Council (EABC), said the sector can manufacture apparels such as inner garments, ties, scarfs that require low level technology and skills. “It is a high time that EAC countries embarked on manufacturing apparels such as inner garments, ties, scarfs that require low level technology and skills as the region works on a phase out approach of imported second hand clothes,” said Awinja. In 2016, the five EAC members - Uganda, Kenya, Burundi, Rwanda and Tanzania – agreed on phased plan and eventual ban on the importation of used clothes and leather products by 2018 to support industrialisation and job-creation in the region. Awinja was speaking ahead of the second East African Business and Entrepreneurship Conference and Exhibition scheduled for November 14 to 16 in Dar es salaam, Tanzania. The event is meant to provide a platform to create synergies and linkages between the local cotton and textile industries with local suppliers and the fashion and design industry. The meeting is also expected to devise an action plan outlining the policies and modalities to promote the sector performance, productivity and quality, according to a statement from organisers. According to EABC, cotton production, processing and trade is highly influenced by policies of major producing countries through price support, tariff protection, production subsidies and stock piling that destabilise cotton prices. The region’s cotton industry also faces huge challenges, including low yields, low ginning out-turn ratio and inefficient value addition, which affect its competitiveness, the apex body of private sector and corporate firms in bloc added. Awinja said the textile industry needs to innovate and embrace value addition to produce aesthetic accessories, interior designs and fashion and hence create more job opportunities in the EAC. The EABC official said only 15 per cent of EAC cotton is processed locally, while 85 per cent is exported in form of lint to other countries. She challenged regional sector players and governments to put in place programmes that will help reverse the trend, saying the lint should work as “a raw material base for textile and apparel manufacturing in the region”. The upcoming regional business and entrepreneurship conference and exhibition will also feature fashion show for designers and firms to showcase the creations and forge market ties. It will also act as a platform to encourage East Africans to consume products made in the region, a move organisers say is crucial to strengthen local value chains. Key fashion and textiles industry players, including Sunny Dolat from HEVA Fund, are expected to discuss ways of building synergies between cotton growers and the textile industry, and the untapped market opportunities in the region. According to Awinja, the African fashion and design industry will have a huge opportunity “to be in the limelight on the international market”. During the conference, there will also be discussions on information communication technology, urbanisation, cotton and textile, patents and copyrights in the creative industry, trade and gender, health, agri-business, and e-commerce. In addition, the East African Diaspora will be engaged to increase investment into the region. The simultaneous exhibition will give participants big opportunities to network and forge partnerships with other organisations and businesses, according to the organisers. The event will also host a “Start-up Corner” to boost entrepreneurship and attract investments in the East Africa region.
Source: News Times
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
- |
USD/Ton |
-100% |
10/19/2017 |
|
VSF |
- |
USD/Ton |
-100% |
10/19/2017 |
|
ASF |
- |
USD/Ton |
-100% |
10/19/2017 |
|
Polyester POY |
- |
USD/Ton |
-100% |
10/19/2017 |
|
Nylon FDY |
- |
USD/Ton |
-100% |
10/19/2017 |
|
40D Spandex |
- |
USD/Ton |
-100% |
10/19/2017 |
|
Polyester DTY |
- |
USD/Ton |
-100% |
10/19/2017 |
|
Nylon POY |
- |
USD/Ton |
-100% |
10/19/2017 |
|
Acrylic Top 3D |
- |
USD/Ton |
-100% |
10/19/2017 |
|
Polyester FDY |
- |
USD/Ton |
-100% |
10/19/2017 |
|
Nylon DTY |
- |
USD/Ton |
-100% |
10/19/2017 |
|
Viscose Long Filament |
- |
USD/Ton |
-100% |
10/19/2017 |
|
30S Spun Rayon Yarn |
- |
USD/Ton |
-100% |
10/19/2017 |
|
32S Polyester Yarn |
- |
USD/Ton |
-100% |
10/19/2017 |
|
45S T/C Yarn |
- |
USD/Ton |
-100% |
10/19/2017 |
|
40S Rayon Yarn |
- |
USD/Ton |
-100% |
10/19/2017 |
|
T/R Yarn 65/35 32S |
- |
USD/Ton |
-100% |
10/19/2017 |
|
45S Polyester Yarn |
- |
USD/Ton |
-100% |
10/19/2017 |
|
T/C Yarn 65/35 32S |
- |
USD/Ton |
-100% |
10/19/2017 |
|
10S Denim Fabric |
1.419 |
USD/Meter |
0% |
10/19/2017 |
|
32S Twill Fabric |
0.879 |
USD/Meter |
0% |
10/19/2017 |
|
40S Combed Poplin |
1.222 |
USD/Meter |
0% |
10/19/2017 |
|
30S Rayon Fabric |
0.679 |
USD/Meter |
0% |
10/19/2017 |
|
45S T/C Fabric |
0.722 |
USD/Meter |
0% |
10/19/2017 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.15099 USD dtd. 19/10/2017). The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Heimtextil 2018, world's leading trade fair for home and contract textiles, will focus on textile solutions for architects and interior designers. Beginning from January 9, the fair will expand its exhibition space for furnishing and upholstery fabrics. The international trade exhibition holds a leading position in the textiles industry. The four-day trade fair will present upholstery and decorative fabrics in five hall levels (3.0, 3.1, 4.0, 4.1 and 4.2). The enormous collection of furnishing and upholstery fabrics at Heimtextil 2018 will range from suppliers of the highest quality goods to suppliers of functional textile solutions in this segment and also manufacturers of high-volume goods. The fair is a unique meeting point for all key players. In hall 4, more than 400 manufacturers will exhibit their wares including Deltracon and Muvantex from Belgium and Loro Piana and Tali from Italy. Top brands such as Archroll, Bill Beaumont Textiles and Chess Designs from the UK, Blom Lina Maria from Finland, Cancelli from Italy, Erotex from Israel, Green Street Fabrics from Belgium, Pro Loom from Germany, Samac from Italy, Sankrin World and Textil Roig from Spain will exhibit for the first time at Heimtextil 2018. The range of decorative and upholstery fabrics in hall 4.2 will offer individual solutions for architects and interior designers. As part of the new Interior Architecture Hospitality Expo, trade visitors from the contract business can expect to see functional product solutions for the interior decoration sector, such as textiles with acoustic functions or special abrasion-related properties. The Expo will also host special guided tours of the trade fair and lectures in the new lecture area in hall 4.2. Around 50 textile manufacturers from Europe will present their collections in hall 3. International brands such as Alhambra / Tormes Design and Zeconzeta & Conzeta from Spain, Damaceno & Antunes - Evo Interior Fabrics from Portugal, Fryett's Fabrics from the UK and CTA and Tolino from Italy, will make presentations in hall 3.
Source: Fibre2fashion.
Turkish textile group Taypa will invest €35 million ($41.2 million) to construct a factory in Kraljevo, central Serbia. The investment will be made over a period of 5 years, according to the memorandum of understanding signed by Taypa president Mesut Toprak and Serbian economy minister Goran Knezevic on the sidelines of an event in Belgrade. The new factory is expected to create employment opportunity for 2,500 Serbians, as per Serbian media reports. Earlier in July this year, Serbian President Aleksandar Vucic said Taypa is considering opening a textile factory and a development centre in Kraljevo. A powerhouse in the Turkish textiles and apparel market, Taypa operates a total of six factories, with four in Turkey, one each in Bangladesh and Egypt.
Source: Fibre2fashion
The African Development Bank (AfDB) and its partners have launched a specialized training programme for entrepreneurs and start-ups in the textile, apparel and accessories (TA&A) sector in Africa. The training is part of AfDB’s ‘Fashionomics Africa’ initiative aimed at increasing Africa’s participation in the global textile industry supply chain. The project phase kicked off in Addis Ababa on October 4 in partnership with the Hub of Africa Fashion Week (HAFW) 2017 event and global non-governmental organisation Hivos International, according to an AfDB press release. This initial phase targeted the Ethiopian Fashion Designers Association (FDA) as well as designers, fashion entrepreneurs and students attending the HAFW. Sixty-four out of the 95 participants were women. Other sessions will also take place in Kenya, South Africa, Nigeria, and Côte d’Ivoire. The aim is to prove that successful African TA&A entrepreneurs can compete on the world stage if offered the right investment, resources and training, said Basil Jones, gender programme and policy lead coordinator at AfDB. Through Fashionomics Africa, the African Development Bank aims to support the growth of the African textile and fashion sectors.
Source: Fibre2fashion.
Govt wants Mitsubishi to invest more in garments, petrochemicals Mitsubishi Corporation senior executive vice president Eiichi Tanabe (left), who is also the company's regional CEO for Asia & Oceania, talks to Industry Minister Airlangga Hartarto before a meeting in Tokyo on Oct. 18. (JP/Industry Ministry Industry Minister Airlangga Hartarto has expressed hope that Japan-based Mitsubishi Corporation invests further in Indonesia and seeks more partnerships with local industries, saying the giant company has the potential to boost competitiveness and productivity among the country’s manufacturers. During a meeting with Mitsubishi executives in Tokyo on Wednesday, Airlangga invited the company to pour in more money in the garment sector as Indonesia was revitalizing its textile industry by boosting the production capacity of rayon fiber. “Rayon has become the new basic material [for textiles] and Indonesia will produce rayon fiber from forest pulp in large quantities,” he said in a statement on Thursday. Exports of textiles and textile products reached US$11.78 billion in 2016, 8.2 percent of Indonesia’s total shipments. Meanwhile, investments in textiles and textile products reached Rp 7.54 trillion (US$557.8 million) last year, contributing 1.16 percent to the country’s gross domestic product. Airlangga said he also expected Mitsubishi to invest more in the petrochemical sector as its subsidiary, Asahi Glass, which operates in Indonesia under the name Asahimas Flat Glass, started to expand its caustic soda and glass factory. Mitsubishi Corporation senior executive vice president Eiichi Tanabe said the company was looking to expand its business in infrastructure and the automotive sector as well as consumer goods, such as food products, as it partners with Japanese convenience store Lawson and retailer Uniqlo, both of which are popular in Indonesia. (gda)
Source: The Jakarta Post
GREENSBORO – After more than 110 years of continuous production, the Cone Denim Plant will close its doors. The International Textile Group, Inc. (ITG) announced on Wednesday it will shut down operations at the Cone Denim White Oak Plant on Dec. 31, impacting 200 workers. The Associated Press reported that Cone Denim was once the largest textile plant in the world and opened in Greensboro in 1905. The company said changes in market demand have significantly reduced volume over the years at the facility. It also said it can’t sustain itself with higher manufacturing costs. Kenneth Kunberger, president & CEO of International Textile Group said, “We truly regret having to take this action to close operations, and we deeply appreciate the loyalty and dedication of all current and former employees of the White Oak Plant. Their talent, effort, innovation, dedication, and customer focus all combined to create a White Oak brand, heritage, and legacy that will forever be the heart of the Cone Denim business.” Kunberger also thanked the City of Greensboro for its support. “We would also like to thank the City of Greensboro for its strong support over the years for both our White Oak facility as well as our ITG corporate headquarters. We are proud to call Greensboro our home.” Greensboro’s Mayor, Nancy Vaughan released the following statement: “We are saddened by today’s announcement. The City of Greensboro is committed to helping these employees and their families plan for their futures with the resources available at Guilford County Workforce Development. This loss is regrettable, as Cone Denim has long been an important part of our City’s history and heritage. That will not change, especially as International Textile Group will retain its headquarters, community involvement, product development and other corporate and division activities in Greensboro. We remain optimistic about Greensboro’s employment prospects, as we chart an aggressive path toward new economic development with our regional partners.” ITG will work with employees to provide transition services and other support. They’ll also help employees in finding employment with both ITG and other local companies. The Guilford County Workforce Development offers to help job seekers. ITG employees can learn more at Guilford Works or by calling Greg Barnett at 336-373-3025 or Vashti Pennix at 336-373-8041. WFMY News 2 caught up with Cathie Faulkner, a Greensboro woman who used to work at the plant for 13 years. “Maybe we didn’t make that much but what we did make, it took care of our family,” Faulkner said. “And we just took care of each other in the Cone family. That’s how it was.” Faulkner said her mother, grandmother and great-grandmother also all worked at White Oak. Cone Denim was founded in 1891 by brothers Moses and Ceasar Cone. The product was part of the jacket and jeans outfits Ralph Lauren designed for the 2016 U.S. Olympic team, according to the Associated Press.
Source: WNCN
SLAMABAD - The government has notified export package incentive for eligible textile and non-textile sectors with objective to boost tumbling exports to curtail trade deficit of the country. The Economic Coordination Committee (ECC) of the Cabinet on October 6, 2017, had approved a strategy to control the trade deficit by reducing imports and enhancing exports. Pakistan’s trade deficit had recorded at $9.01 billion during first quarter (July-September) of the current fiscal year FY2017-18 as against $7 billion during same period of the previous year showing an increase of 29.75 percent, according to Pakistan Bureau of Statistics (PBS). Imports had increased rapidly as compared to the exports. The exports had registered at $5.17 billion during July-September of 2017-18 as compared to $4.67 billion of the corresponding period of the last year showing a growth of 10.84 percent. Meanwhile, the imports had also shown an increase of 22.19 percent and recorded at $14.26 billion during first quarter of the current financial year as against $11.67 billion of the same period last year. The Ministry of Commerce yesterday implemented the second component of the Trade Rationalisation strategy that was approved by ECC on October 6, 2017, by issuing the SRO on PM’s Export Enhancement Initiative improving upon the terms of the earlier scheme. The first of the three-pronged strategy was implemented by issuance of Regulatory Duties on imports of luxury and non-essential finished goods by FBR on Monday. The main part of the trade strategy proposed by the Commerce Division was to improve the conditions of PM’s Export Enhancement Package which was modified in consultation with the exporters and the relevant ministries. The earlier package provided for conditional duty drawback scheme which would only allow such facility to exporters who export 10 percent more than the previous year. This made the competitive marketing difficult for the exporters, as any performance less than that would make the facility inaccessible. The exporters were demanding a continuation of previous year’s package which gave duty drawback facility regardless of the increase in exports. Under the new version of the package, 50 percent of the rate of incentive for the eligible textile and non-textile sectors already announced in the PM’s package may be provided on the same terms as for the period January to June, 2017 ie without conditions of increment; the remaining 50 percent of the rate of incentive may be provided, if an exporter achieves an increase of 10 percent or more in exports as compared to corresponding period of the last year. The SRO binds the State Bank of Pakistan (SBP) to clear the claims submitted by exporters’ bank within 48 hours. The banks on their part will not take more than 15 days to verify and submit the claims to SBP and will credit exporter’s account within 24 hours of release of funds by SBP. In order to encourage exporters to target new and far-flung destinations for exports, the package provides 2 percent additional Duty Drawback facility for exports to non-traditional destinations in Africa, South America, Oceana, CIS countries and Non-EU countries. The third component, Import Regulations, will be covered by issuance of amended Import Policy Order by the Ministry of Commerce which is also expected to be issued this week.
Source: The Nation
The Belt and Road Initiative mirrors the profound transformation of a China that has become more active on the global stage, an Italian scholar told Xinhua in a recent interview. China has played an increasingly important role as a global player when Chinese President Xi Jinping sought for a more assertive and engaged foreign policy, said Francesco Mancini, associate dean and visiting associate professor at Lee Kuan Yew School of Public Policy in Singapore. Mancini said the Belt and Road Initiative is not only an economic project, but also President Xi's policy framework, stressing that the initiative is a very long-term investment. Mancini also observed a "dramatic reverse" in the foreign policies of the Western powers and China, explaining that while the United States has been closing on itself, China is promoting free trade and multilateral institutions. "President Xi in a well-known speech in Davos at the beginning of the year has underlined that the world must remain committed to developing global free trade and investment, promoting trade and investment liberalization through opening-up, and rejecting protectionism," he said. Mancini also noted that while the current US administration seems inclined to increase its nuclear armament, Xi delivered a clearer message at UN headquarters in Geneva, calling for nuclear disarmament and a world free of nuclear weapons. "These speeches have positioned China not only as a regional player but also a global leader in promoting specific global goals," he said. As regards to regional governance, the visiting associate professor said it will be interesting to see if China would become more engaged in conflict resolution efforts. "This could be a positive development given the retreat of the US and its rather poor political standing in many regions of the world," he said. He also noted that Beijing has created a parallel system of financial institutions, such as Asia Infrastructure Investment Bank (AIIB) and BRICS Development Bank. "This has increased investment options for many countries and it has to been seen as a very positive addition to global governance," he said. When it comes to the future of China's foreign policy, Mancini said China is aware that its "amazing development" in the past years has been possible thanks to globalization, adding that this will make China keener to search for win-win strategies rather than confrontational approaches. The Belt and Road Initiative, proposed by Xi in 2013, aims to create greater trade, infrastructure and people-to-people links between Asia, Europe and Africa by reviving and expanding the ancient Silk Trade routes. The modern version comprises an overland Silk Road Economic Belt and a 21st Century Maritime Silk Road.
Source: China Daily.
Target has unveiled a series of "adaptive apparel" products — made specially for kids and toddlers living with disabilities — for its Cat & Jack lines, which will be available starting Oct. 22. In an effort to make getting dressed easier, Target’s internal design team created the 40-item assortment with features like side and back snap and zip closures and hidden openings for abdominal access, the company said in a blog post. This summer the retailer unveiled Cat & Jack designs taking into account sensory sensitivities. Items in the adaptive lines come in toddler and children's sizes, with prices ranging from $4.50 to $39.99, and most items under $19.99, the company said.
Dive Insight:
Cat & Jack, unveiled by Target last year as part of its effort to update its private label apparel and home goods, has surpassed the $2 billion mark to be one of Target’s largest brands ever, the company reiterated on Wednesday. Target developed the line (which replaces its mainstay Cherokee and Circo kids labels) by consulting feedback and opinions from a range of children. The retailer is incorporating technical design as well as fashion chops to appeal to parents with children who struggle with itchy tags and hard-to-master closures and pockets, something that came out of the company's ongoing consumer research, according to a blog post. Judging by efforts to double-down on its "cheap chic" merchandise differentiation, Target seems unwilling to cede much to Amazon or anyone when it comes to home decor and apparel, which outgoing executives earlier this year said account for about $26 billion in sales. Merchandise differentiation has been a key Target strategy since it lost a bruising price war with Walmart in the 1980s. In addition to partnerships with designers and brands, Target is working hard to bolster its own brands. It has plans to roll out 12 new labels over the next 18 months, using the same research and design approach applied to developing its successful Pillowfort and Cat & Jack kids lines. "I think their goal is to build their in-house brands more," Maya Mikhailov, chief marketing officer and co-founder of GPShopper, told Retail Dive earlier this year. "Target was always known for design, earning the moniker 'Tar-zhay.' Their new streak appears to be focused on re-energizing that. It seems to be a natural extension of what their original brand promise was." Sales from such merchandise have been able to bolster margins amid an emerging price war in consumables and grocery. Last month Target announced a series of price cuts to those goods, an effort to get the word out that it's willing to play on that field. While Target has a reputation for being higher priced than Walmart, that’s not quite true, according to Profitero vice president of strategy and insights Keith Anderson. "I don’t know that they really struggle to compete on price the way some people perceive them to," Anderson said. "Target does carry items closer to the 'better' and 'best' category, but on exactly the same item, Target really is competitive. People walk into Walmart and walk out pleased about the prices, and people walk into Target and walk out with things they hadn’t planned on buying, so they perceive Target as more expensive.”
Source: Retail Dive
Tommy Hilfiger is extending its adaptive apparel collection to adults, offering clothing featuring modifications such as velcro closures, magnetic flies, and adjusted leg openings to make it easier for people of all abilities to get dressed. The launch follows the success of adaptive apparel for children last year, where the American fashion label collaborated with MagnaReady and Runway of Dreams, a nonprofit that works to broaden clothing options for people with disabilities. The adult line is based upon pieces from the spring/summer 2018 Tommy Hilfiger sportswear collection and consists of 37 men’s and 34 women’s styles, with modifications including front and back closures to help pull clothes over the head, velcro closures, magnetic flies in trousers, jeans and chinos, and adjusted leg openings and hems that accommodate leg braces and orthotics. “Inclusivity and democratisation of fashion have always been at the core of my brand’s DNA,” said designer Tommy Hilfiger in a press statement. “These collections continue to build on that vision, empowering the differently abled community. It developed the adult lines following the incredible response to the children’s collection.” The collection launches online at tommy.com from October 18.
Source: Fashion United
Mitsubishi Corporation senior executive vice president Eiichi Tanabe (left), who is also the company's regional CEO for Asia & Oceania, talks to Industry Minister Airlangga Hartarto before a meeting in Tokyo on Oct. 18. (JP/Industry Ministry) Industry Minister Airlangga Hartarto has expressed hope that Japan-based Mitsubishi Corporation invests further in Indonesia and seeks more partnerships with local industries, saying the giant company has the potential to boost competitiveness and productivity among the country’s manufacturers. During a meeting with Mitsubishi executives in Tokyo on Wednesday, Airlangga invited the company to pour in more money in the garment sector as Indonesia was revitalizing its textile industry by boosting the production capacity of rayon fiber. “Rayon has become the new basic material [for textiles] and Indonesia will produce rayon fiber from forest pulp in large quantities,” he said in a statement on Thursday. Exports of textiles and textile products reached US$11.78 billion in 2016, 8.2 percent of Indonesia’s total shipments. Meanwhile, investments in textiles and textile products reached Rp 7.54 trillion (US$557.8 million) last year, contributing 1.16 percent to the country’s gross domestic product. Airlangga said he also expected Mitsubishi to invest more in the petrochemical sector as its subsidiary, Asahi Glass, which operates in Indonesia under the name Asahimas Flat Glass, started to expand its caustic soda and glass factory. Mitsubishi Corporation senior executive vice president Eiichi Tanabe said the company was looking to expand its business in infrastructure and the automotive sector as well as consumer goods, such as food products, as it partners with Japanese convenience store Lawson and retailer Uniqlo, both of which are popular in Indonesia.
Source: The Jakarta Post
