Prime Minister Narendra Modi is likely to participate in the Regional Comprehensive Economic Partnership (RCEP) Summit in Manila later in November where the country will face more pressure to improve its commitments for eliminating tariffs in goods and agree to an early conclusion of the mega trade deal. “While officials at the recent negotiating round of RCEP in South Korea failed to agree on a joint statement that the heads-of-state from the RCEP countries would adopt in Manila, efforts would be made by members, including the ASEAN, to finalise crucial numbers and dates at the Summit meeting,” a government official told BusinessLine. Mega trade dealThe RCEP is a mega trade and investment pact being negotiated by the 10-member ASEAN, India, China, South Korea, Japan, Australia and New Zealand, which could result in the largest free-trade bloc in the world accounting for almost half of the world’s population, about 30 per cent of global GDP and over a quarter of world exports. India’s recent round of improved market access offers in goods faced criticism at the negotiating round in South Korea in October as most members, including the ASEAN, said that the improvements were cosmetic and the country needed to commit to open up much more. The ASEAN is keen that countries should agree to remove duties on at least 90 per cent of traded items while some other members like Australia want the number to be much higher. India, on the other hand, has made much lower commitments, especially for China, which is a key competitor of the country in its domestic market. “We are worried about the kind of pressure that we would be under in the run-up to the RCEP Summit which is scheduled in the middle of this month. The final decision now depends on the resistance we face from our domestic industry against dropping tariffs and the political call that the leadership takes,” the official said. The RCEP Summit will be held on the sidelines of the ASEAN Summit in Manila on November 12-14. A meeting of Trade Ministers from the RCEP countries and a Trade Negotiations Committee meeting will precede the Summit where members would try to finalise the joint communication for the heads-of-states. New Delhi is disappointed with the way the RCEP negotiations have shaped so far as it has not received any significant offer from other members in the services sector while demands are piling high for dismantling tariffs in goods. The Indian industry is apprehensive about facing competition without the protection of tariffs from most RCEP partners, especially China, with which the country has an ever-widening trade deficit.
Source: Business Line
New Delhi: The GST Network (GSTN), the technology backbone for the goods and services tax, launched an offline tool for GSTR-2 filing on Wednesday. The offline tool would allow taxpayers to export data of GSTR-2 to excel sheets. This will be helpful in comparing this data with purchase register to take actions like accept, reject and modify, GSTN said in a statement. “We keep introducing new features and tools for the convenience of the taxpayers. This new version of the offline tool for GSTR-2 is better than the previous one as it allows taxpayers to compare data with the purchase data,” GSTN chief executive officer (CEO) Prakash Kumar said. So far, nearly 21 lakh businesses have filed GSTR-2 for July. The last date for filing is 30 November. Nearly 47 lakh businesses had filed GSTR-1 or sales returns, which has to be correspondingly matched with GSTR-2 or purchase returns. Besides, the portal has also activated form GST CMP-02 which allows taxpayers to opt for composition scheme. The GST council last month hiked the threshold for businesses to opt for composition scheme to Rs1 crore, from Rs75 lakh earlier. The window for opting for composition scheme will remain open till 31 March. Also GSTN has activated the form for intimation of details of stock on the date of opting for composition levy form GST CMP-03 is now available on the portal. However, this applies only for persons registered under the existing law migrating on the appointed day. Form GST ITC-04 is also available on the GST portal. This will enable taxpayers to file quarterly statement that has to be furnished by taxpayers having details of goods or capital goods sent to job worker and received back. Besides, taxpayers who are registered under the existing laws and has been migrated can cancel his registration if not liable for registration under GST. In case a taxpayer has a grievance pertaining to discrepancy relating to payment, he can use Form GST PMT-07 which is available on the common portal.
Source: Live mint
SURAT: For what was once a bustling trade centre and one of India's biggest textile hubs, it's hard to believe Surat's textile markets now bear a deserted look. Traders say it is because of the devastating effect of the Goods and Services Tax or GST coupled with a low business Diwali which resulted in an extended break. Sanjay Jagnani, who heads a traders' body, says from business worth around Rs. Hetal Mehta, Vice-President of the South Gujarat Chamber of Commerce and Industry, told NDTV, "Demonetization affected us but we overcame that. Suddenly GST came in from July and that was one shot of the other. In textiles they were not even under the tax regime and that also was a problem." 400 crore daily it's down to 150-200 crores a day. "We are willing to pay 100% tax, double tax, but we appeal to the government to free us from this web of filing returns every two days," Mr Jagnani, the President of the Vyapar Pragati Sangh told NDTV. At every textile market that we visited in Surat, traders complained about loss of business since the implementation of GST, but were extremely cagey when it came to providing documents to support their claim. Officials explain this is mostly because they've been brought under the tax net for the first time. According to the power loom owners' association, after GST, production has dropped by half to 2 crore metres a day. Ninety thousand looms have shut and 50,000 labourers have lost their jobs. "The situation is very bad. First it was demonetization that hit us. And after GST came and hit harder. The traders don't want our stock and we have accumulated stocks," Hari Kathiria, Vice-President, Federation of Gujarat Weavers Association says. Ishan Sawani, a powerloom owner says, "After GST and demonetization the situation is really bad and the demands of small scale industrialists have been kept before the chambers of commerce but nothing has been done for six months. Only election oriented cosmetic relief has been provided." "The power loom shut before Diwali itself and there is no work. We keep coming but the owners turn us away, says Manoj Kumar, a labourer from UP who is hunting for jobs in Surat. The ruling BJP rejects these claims. Member of Parliament from Surat, CR Patil says, "No one has lost their jobs. Industries don't have labour right now. Business has not been hit. In fact trade has increased. These figures are untrue." At the local GST authority's office in Surat officials remained tight lipped and refused to share any data or information on the complaints by traders. Off the record they told NDTV that it would be impossible to detect any trend as far as increase or decrease in business is concerned as there is no previous data. Prashant Shah heads the South Gujarat Commercial Tax Bar Association and he says neither the tax consultants nor the GST Suvidha Kendra staff could operate the GST-network for filing returns on one occasion. This is something officials confirmed too. Prashant Shah, President of the South Gujarat Commercial Tax Bar Association told NDTV, "It was never a good and simple tax. It is impossible to file returns. We have tried to file returns and found it's impossible to comply." Sanjay Jagnani says, "Elections are around. If the government does good work people support them, and now people are in trouble. Traders have always supported the BJP but right now they are unhappy. Only after the elections will we know what this unhappiness means." Hitesh Sanklecha, a trader who went on hunger strike against the implementation of GST, says this time the government may lose a section of its core vote base. "The way they have misled us, now every trader knows that this government has betrayed us. We will support Congress if the BJP does not keep its promises," he told NDTV. The double whammy of demonetization and a complicated tax structure of the GST has badly hurt the textile industry in Surat according to traders and loom owners. Pre-election apps have provided some minor relief but till the time the major concerns remain small scale industries like this one has shut down or are on the verge of shutting down.
Source: NDTV
Jharkhand Chief Minister Raghubar Das stated that his authorities would supply employment to 2 lakh youths within the textile sector within the subsequent two years. “We’re repeatedly working in different sectors as effectively with an goal to generate lakhs of employment alternatives and verify migration (of employees) from the state,” Das instructed a perform organised to look at the 40th demise anniversary of Dalit group leaders Lilu Bauri, Hiru Bauri and Patal Bauri at Jaitara village below Chas block of Bokaro district. Das stated the third floor breaking ceremony of Momentum Jharkhand-a World Traders Summit (GIS) shall be held in Bokaro in December, in line with an official launch. The target of the ceremony was to advertise avenues for industrialisation in and round Bokaro, he stated, including that the federal government was dedicated to all-round improvement of the state. “My authorities don’t do politics of casteism, communalisam, however politics of improvement,” he stated. The federal government was working to make girls self-reliant, he stated, including that in an try to realize the goal, the federal government has taken initiative to coach girls below the Entrepreneur Sakhi Mandal and supply them mortgage. As many as four,80,000 girls from 32,000 villages of the state would profit from the scheme, he stated. “Jharkhand is a land of warriors who had made this pious land freed from exploitation and injustice,” he stated, paying tributes to the martyrs. He appealed to the folks to comply with the teachings of those martyrs to create a brand new Jharkhand and reiterated his dedication to eradicate poverty and illiteracy from the state. Prime Minister Narendra Modi has been working for the event of poor, farmers and rural pockets relatively than indulging in politics of casteism and communalism, he stated. Das stated his authorities would quickly focus on with the Union Coal Ministry the problem of re-opening of closed coal blocks within the state.
Source: Auto Mobile News
On Tuesday, senior BJP leaders, including Navsari MP CR Paatil, Surat MP Darshana Jardosh, Majura assembly seat MLA Harsh Sanghavi, minister of state Nanu Vanani and other rushed to New Delhi to meet revenue secretary Hasmukh Adhia to appraise him about the ground situation prevailing in Surat and also presented a long list of demands on GST issues. A list of representation given to Adhia was sent to the media and made viral on the social media groups, including Whatsapp and Twitter, to draw the attention of the textile community. The local BJP leaders gave a detailed list of the demands approved by the GST Council and those given in-principle approval. Some of the demands mentioned in the official communique include allowing transporters to take the bookings of textile goods parcel order from the unregistered traders having annual turnover worth Rs 20 lakh; 5% GST on unstitched salwar kameez, basic customs duty (BCD) on imported fabrics raised from 10% to 25% to name a few. A strong demand, according to the official release, was made to the revenue secretary to abolish the filing of GSTR-3, limit of Rs 2 crore under composite scheme. One of the important issue raised by the local BJP leader was that the GST law is new. However, the MPs and legislators should be given proper knowledge of the law, till then there should be no penalty or fine on the implementation of GST for a year. "Even the BJP MPs and MLAs are well aware of the fact that any new taxation implemented in the country needs a time frame of at least one year for the perfect implementation. First, the traders, MPs, MLAs, customs officials should be trained for a year in order to migrate to the new taxation system. This government failed to do so and the entire trade and commerce and general public is suffering," a textile trader Ganpat Jain said.
Source: Times of India
NEW DELHI: Manufacturing activity slowed in October following a drop in new orders, a private survey said, but firms hired workers at a high pace to service greater volumes of outstanding business. The survey attributed the dampened demand to the negative effects of the roll out of goods and services tax (GST). The Nikkei Manufacturing Purchasing Managers’ Index, compiled by IHS Markit, fell to 50.3 in October from 51.2 in September. This is the third successive month manufacturing is in expansion zone – a reading of over 50 on this index indicates expansion and below that contraction. “Disappointingly, manufacturing production rose at the weakest pace in the current sequence of growth,” said Aashna Dodhia, economist at IHS Markit. “Inflows of new orders stagnated as the negative effects arising from the implementation of GST continued to dampen demand levels.” The survey said overseas demand for Indian goods dipped to the greatest extent since September 2013. This is first downbeat data in the last few months after a number of other indicators such as the index of industrial production (IIP), core sector output, automobile sales and credit offtake showed economy was picking up pace from a disappointing first quarter. India’s economic growth slumped to a three-year low of 5.7% in the April-June quarter. Business confidence eased to the weakest since February as some firms expressed concerns over negative GST effects. “However, those manufacturers that were optimistic forecasted benefits of GST materialising over the next 12 months,” Dodhia said. The sub-index for new orders declined to a three-month low of 49.9 in October from 51in September. At the sector level, improvements in consumer goods negated deteriorations in investment and intermediate goods, the survey said. “Encouragingly, firms added to their payroll numbers at a similar pace to September’s 59-month high in response to greater volumes of outstanding business,” the survey said. Manufacturing firms continued to face higher input costs, which rose at fastest pace since May.
Source: The Economic Times
From weavers to traders to fashion designers, the past year has wreaked havoc across the textile industry – thanks to the shock of demonetisation announced on November 8 last year, followed by the introduction of the Goods and Services Tax (GST) this July. The complicated compliance burden of the GST regime has seen chaos and protests erupt in different industrial sectors, and the textile industry has been among the worst hit. From the textile traders protesting in the man-made fabric (MMF) hub of Surat and Ahmedabad in Gujarat, to the uncertain futures of weavers in Varanasi – no one in the industry has been left untouched. Even though the GST Council on October 6 announced a reduction in tax rates on MMF from 18% to 12%, traders remain unhappy . And the case of fashion designers is no different, reports the IANS. The news agency quoted fashion designer Rahul Mishra as saying that demonetisation followed by GST had disrupted the business. But he told the IANS that the maximum stress was felt by weavers, embroiderers, tailors and craftspersons. “There were a lot of times that my employees – like tailors and embroiderers – could not go to the bank. Demonetisation impacted them badly,” Mishra told the news agency. Although the designer claimed he was not against GST, he went on to describe the difficulties GST had caused: “We work with handmade clothes and labour is intensive. So if I supply merchandise worth Rs 1 crore, then 12% needs to be paid upfront as GST. Next month, again if I am supplying, then I have to pay 12%, so I have to pay so much to GST and then wait for the sale to happen." Mishra said the government should encourage the handmade cloth industry by bringing in separate laws for it. “I want to pay taxes on what I am selling because if I am not selling, then business is less, opportunity is less and so is potential for employment,” he told IANS. The news agency cited a report by the Investment Information and Credit Rating Agency of India (ICRA), which states that the Indian textiles and apparel industry, which accounts for almost 24% of the world's spindle capacity and 8% of global rotor capacity, has been struggling due to the impact of demonetisation and GST. The ICRA report stated the disruptions caused by the note ban and the transition to the GST regime had “narcotised the Indian apparel and fabric industry”, writes IANS. Other designers too have been witnessing reduced business, even during the festive season around Diwali, as per the IANS. The agency quotes designer Samant Chauhan as saying that post-demonetisation, the prices of yarns and fabric went up. “Only those people survived who had systems (workstations and mills). There was a huge crunch of fabric as most of the weavers were in the bank getting their cash. When things normalised, the prices went up,” Chauhan told IANS. Sunil Sethi, president of Fashion Design Council of India (FDCI), the country’s apex fashion body, also admitted to IANS that sales had suffered due to demonetisation and GST. Menswear designer Pawan Sachdeva told IANS that the steep decline in cash flow had resulted in luxury fashion market sales being slashed by nearly 80%. “The effect of demonetisation has lingered even after a year. The luxury market has faced a major slowdown. Even as the effects of demonetisation hadn't lessened, GST was introduced as a new policy, slowing the market even more,” he said.
Source : News Click
The ICRA report states that disruptions caused by note ban and transition to the GST regime has “narcotised the Indian apparel and fabric industry” Style, it would appear, never goes out of fashion. But the passion to spend on designer clothes and accessories took a beating in the past year, ever since the Narendra Modi government implemented the note ban in November 2016. The introduction of the Goods and Services Tax (GST) in July added to the woes, say designers. Demonetisation was a wonderful move by the government, but it was badly executed. They did not see the entire scenario. It has disrupted the business (of fashion). There were a lot of times that my employees – like tailors and embroiderers – could not go to the bank. Demonetisation impacted them badly -Rahul Mishra, a regular participating designer at the Paris runways to IANS. The stress, he says, was felt more by weavers, embroiderers, tailors and craftspersons. The introduction of GST on 1 July impacted the same set of people more than others. "I am not against GST. We work with handmade clothes and labour is intensive. So if I supply merchandise worth Rs 1 crore, then 12 percent needs to be paid upfront as GST. Next month, again if I am supplying, then I have to pay 12 percent, so I have to pay so much to GST and then wait for the sale to happen." He says the government should encourage the handmade industry by bringing in separate laws for it. "I want to pay taxes on what I am selling because if I am not selling then business is less, opportunity is less and so is potential for employment," said Mishra. A report by Investment Information and Credit Rating Agency of India (ICRA) stated that the Indian textiles and apparel industry, which accounts for almost 24 percent of the world’s spindle capacity and eight percent of global rotor capacity, has been struggling due to the impact of demonetisation and GST. The report stated that the disruptions caused by demonetisation and transition to the GST regime has "narcotised the Indian apparel and fabric industry".Festive Season Failed to Raise the Shoppers’ Spirit. Other designers say they are witnessing reduced business, but they are hopeful that the forthcoming wedding season may bring a touch of relief. Many feel that banning of Rs 500 and Rs 1,000 currency notes was a good move to weed out corruption in the country, even though it took its toll on the design world. GST only added to their troubles. Designer Samant Chauhan is disappointed that the festive season failed to raise the shoppers' spirit. "I always knew that the market is slow and we will get good sales in Diwali. But things were not that great during the festive time either, with sales at less than half. There was no (big) party happening on Diwali, so why will people buy designer clothes. I think the note ban did have an impact on that (party culture).” He said that after demonetisation, prices of yarns and fabric went up. "Only those people survived who had systems (workstations and mills). There was a huge crunch of fabric as most of the weavers were in the bank getting their cash. When things normalised, the prices went up," he added. Sunil Sethi, President, Fashion Design Council of India (FDCI), the country's apex fashion body, admitted that sales had slumped due to demonetisation and GST. I’m hoping that the business is going to be regularised in the near future. Certain amount of discipline has set in for both the customer and designer. However, there is no doubt that the volume of business has gone down, which is not a good sign. Hoping for the market to pick up soon -Sunil Sethi to IANSMenswear designer Pawan Sachdeva echoed the sentiment. "The effect of demonetisation has lingered even after a year. The luxury market has faced a major slowdown. Even as the effects of demonetisation hadn't lessened, GST was introduced as a new policy, slowing the market even more," he said. The major problem, according to him, was that cash flow declined sharply, resulting in slashing of up to almost 80 per cent of luxury sales. "This Diwali, the sales were extremely low as compared to previous years. It will take a lot of time for the market to recover at this rate," Sachdeva said.
Source: The Quint
Kishor Tiwari, chairman of the special task force constituted to tackle agrarian crisis in Maharashtra, on Monday sought the intervention of the Prime Minister’s Office (PMO) to stabilise prices of cotton and soybean to stop its distress sale by farmers. The Vasantrao Naik Shetkari Swawlamban Mission (VSSNM) has appealed to the State and Central governments to intervene as the main cash crops are being sold much below the Minimum Support Price in Vidarbha and Marathwada. Mr. Tiwari alleged that intervention of Central agencies was too poor to stabilise the market prices of cotton and soybean, which has a record seven million hectares area under cultivation in Vidarbha. Mr.Tiwari said, “Cotton Corporation of India and NAFED failed to stabilise the prices. This is only adding fuel to the ongoing agrarian crisis.” Mr. Tiwari said he has asked PMO for strong Exim policy changes for banning imported cotton lint and palm oil and put soybean cake DOC in MCDEX and NCDEX open trade besides giving export subsidies to cotton and soybean traders in the country. The task force welcomed Gujarat Chief Minister Vijay Rupani’s decision to provide special relief to cotton growers in the State by announcing a bonus of Rs. 500 per quintal over and above the minimum support price of Rs. 4,320. Mr. Tiwari said, “Cotton growers are staring at huge losses due to bollworm attack and pesticide poisoning deaths. We have made a special request to Maharashtra Chief Minister Devendra Fadnavis to follow the Gujarat government’s decision of giving a bonus over and above the MSP.” He added, “The Prime Minister had also made this promise to cotton farmers of the region during 2014 parliamentary election campaign.” Holding “hostile bureaucrats” responsible for the delay in procurement, Mr. Tiwari urged the Chief Minister to immediately start procurement centres of the CCI and the marketing federation to stop the distress sale. Cotton growers are staring at huge losses due to bollworm attack and pesticide poisoning deaths - Kishor Tiwari, Chairman of Vasantrao Naik Shetkari Swawlamban Mission
Source: The Hindu
Keeping pace with the stunning rally in domestic equities, the rupee today surged by a solid 16 paise to end at an over one—month high of 64.59 against the US currency following frantic dollar unwinding. Overall forex market sentiment witnessed a sea change in the macroeconomic parameters after India jumped to 100th position in the World Bank's ‘ease of doing business’ ranking following government’s strong policy measures to attract investments and revive the economy. Adding more value, eight core sectors grew to a six-month high of 5.2 per cent in September, helped by a robust performance in coal, natural gas and refinery segments, official data showed. The rupee has been rallying over the past three sessions against the greenback and appreciated by a healthy 46 paise. This is the highest closing for the home currency since September 20, when it had ended at 64.27. Wide-ranging reforms have been undertaken in the last few months and that have led to improved investment climate, a forex dealer commented. Increased FDI inflows and government’s ‘Make in India’ campaign to encourage international market players to start businesses in India is started to yield results, he added. Meanwhile, domestic bourses made a stellar rebound and conquered fresh historic highs on the back of strong liquidity driven rally, also supported by an overall positive sentiment. The flagship Sensex soared over 387 points to close at a record peak of 33,600.27, while Nifty soared 105 points to end at new high of of 10,440.50. Asian stocks too rallied with Tokyo and Seoul leading the way. At the Interbank Foreign Exchange (Forex) market, the rupee resumed firm at 64.71 from overnight close of 64.75 as foreign banks and exporters liquidated their dollar bets. Steering its strong momentum, the local unit touched an intra—day high of 64.51 in later deals before concluding at 64.59, showing a smart rise of 16 paise, or 0.25 per cent. In the meantime, the dollar inched up broadly ahead to the US Federal Reserve’s November monetary policy decision. The RBI, meanwhile, fixed the reference rate for the dollar at 64.5256 and for the euro at 75.0755. The dollar index, which measures the greenback’s value against a basket of six major currencies, was sharply up at 94.66 in early trade. In cross—currency trades, the rupee remained under pressure against the pound sterling and settled at 85.87 from 85.55 per pound, but recovered against the Japanese yen to end at 56.64 per 100 yens as compared to 57.13 earlier. rupee also rebounded against the euro to finish at 75.14 from 75.31 yesterday., pound sterling continues to strengthen against the greenback ahead of tomorrow’s Bank of England meeting on higher than expected UK manufacturing PMI in October with investors expecting dovish rate hike from Bank of England on Thursday, while common currency euro traded little changed. In forward market today, the premium for dollar for the new month moved higher owing to fresh paying pressure from corporates. The benchmark six—month premium payable in April edged up to 142.75—144.75 paise from 141.50—143.50 paise and the far forward October 2018 contract also firmed up to 283—285 paise from 281—283 on Tuesday. On the international energy front, global crude surged to its highest since mid—2015 on Wednesday after data showed OPEC has significantly improved compliance with its pledged supply cuts and Russia is also widely expected to keep to the deal. The oil price rallied 7 per cent in October, marking the fourth consecutive month of gains.Brent crude futures were up 59 cents at USD 61.53 per barrel in early Asian trade.
Source : Financial Express
India is not prepared to take obligations on e-commerce at the World Trade Organisation (WTO) as its domestic policies are still evolving, a senior official from the Commerce and Industry Ministry has said. “Our priority right now should be national rule-making. Because e-commerce issues are over-lapping and cross-cutting, rule making becomes difficult. We have a long way to go to reach the level of infrastructure that developed markets like the EU have in place. We are not yet prepared to engage in international rule-making,” said Sudhanshu Pandey, Joint Secretary, Ministry of Commerce & Industry on Wednesday. Pandey was speaking at an interactive session on ‘E-Commerce, Digital Infrastructure, Trade Rules and WTO’ organised by FICCI jointly with Centre for WTO Studies. Since July 2016, around 24 papers have been submitted to the WTO for negotiations on e-commerce and countries like Japan have put out highly ambitious papers, pushing their own agenda. India, too, needs to push its agenda which is to protect its domestic industry, Pandey said.
‘Focus on domestic e-comm’
Speaking at the interaction, Ashoke Mukerji, former trade negotiator for India in the newly formed World Trade Organisation between 1995-98, pointed out that it was important to organise the e-commerce industry domestically first before turning global.
“We have burnt our fingers once with the ITA (IT Agreement of the WTO) and the industry is still blaming the government for being part of it. Those were different circumstances and the initiative was also backed by some industry participants, but India has to be more careful this time with e-commerce,” he said. A group of WTO members which includes Russia, Japan, EU, Australia, Canada and Chile is trying to push for setting up a separate working group on e-commerce at the WTO Ministerial meeting in Buenos Aires in December with the objective of starting negotiations. India, however, is strictly opposed to it. Electronic commerce was made a part of the WTO in 1998, but in a limited way. Members had agreed to give a temporary moratorium on import duties on digital transmissions. This moratorium is extended every two years. It was also decided to hold discussions on various aspects of e-commerce, but there was no understanding on negotiating rules. “We want the old dispensation to continue till we are prepared to move further,” Pandey said.
Source: Business Line
To create awareness among the silk farmers about the importance of silk industry and various types of programmes that were taken up for the benefit of silk farmers, the District Collector D Krishna Bhaskar released a poster to give wide publicity on theimportance of silk industry and describing the various types of programmes here on Monday, on the occasion of the Grievance Day. Joint Director of district horticulture and silk industry department Sridhar, District Revenue Officer Shyam Prasad Lal were present along with others. Speaking on the occasion, the District Collector said that several steps were taken for the development of silk industry in the district. The Collector also explained that the district horticulture and silk industry department had organised several programmes to create awareness among the silk farmers about the silk worms, various diseases and preventive measures to be taken along with growing of mulberry plants. The Telangana State government had introduced various schemes for the development of silk industry in the State and to benefit the farmers, who depend on silk fabric production.
Source: YarnsandFibers
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$ 60.00 per barrel (bbl) on 01.11.2017. This was higher than the price of US$ 59.03 per bbl on previous publishing day of 31.10.2017. In rupee terms, the price of Indian Basket increased to Rs. 3871.34 per bbl on 01.11.2017 as compared to Rs. 3823.41 per bbl on 31.10.2017. Rupee closed stronger at Rs. 64.53 per US$ on 01.11.2017 as compared to 64.77 per US$ on 31.10.2017. The table below gives details in this regard:
|
Particulars |
Unit |
Price on November 1, 2017 (Previous trading day i.e. 31.10.2017) |
|
Crude Oil (Indian Basket) |
($/bbl) |
60.00 (59.03) |
|
(Rs/bbl) |
3871.34 (3823.41) |
|
|
Exchange Rate |
(Rs/$) |
64.53 (64.77) |
Source : PIB
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1349.21 |
USD/Ton |
0% |
11/1/2017 |
|
VSF |
2306.48 |
USD/Ton |
0% |
11/1/2017 |
|
ASF |
2653.20 |
USD/Ton |
0% |
11/1/2017 |
|
Polyester POY |
1323.59 |
USD/Ton |
0.34% |
11/1/2017 |
|
Nylon FDY |
3572.78 |
USD/Ton |
0% |
11/1/2017 |
|
40D Spandex |
5954.63 |
USD/Ton |
0% |
11/1/2017 |
|
Polyester DTY |
5698.35 |
USD/Ton |
0% |
11/1/2017 |
|
Nylon POY |
1560.26 |
USD/Ton |
0% |
11/1/2017 |
|
Acrylic Top 3D |
3331.58 |
USD/Ton |
0% |
11/1/2017 |
|
Polyester FDY |
2788.88 |
USD/Ton |
0% |
11/1/2017 |
|
Nylon DTY |
1635.64 |
USD/Ton |
0% |
11/1/2017 |
|
Viscose Long Filament |
3708.45 |
USD/Ton |
0% |
11/1/2017 |
|
30S Spun Rayon Yarn |
2954.70 |
USD/Ton |
0% |
11/1/2017 |
|
32S Polyester Yarn |
2020.05 |
USD/Ton |
0% |
11/1/2017 |
|
45S T/C Yarn |
2883.85 |
USD/Ton |
0.16% |
11/1/2017 |
|
40S Rayon Yarn |
3120.53 |
USD/Ton |
0% |
11/1/2017 |
|
T/R Yarn 65/35 32S |
2427.08 |
USD/Ton |
0% |
11/1/2017 |
|
45S Polyester Yarn |
2170.80 |
USD/Ton |
0% |
11/1/2017 |
|
T/C Yarn 65/35 32S |
2442.15 |
USD/Ton |
0% |
11/1/2017 |
|
10S Denim Fabric |
1.41 |
USD/Meter |
0% |
11/1/2017 |
|
32S Twill Fabric |
0.87 |
USD/Meter |
0% |
11/1/2017 |
|
40S Combed Poplin |
1.21 |
USD/Meter |
0% |
11/1/2017 |
|
30S Rayon Fabric |
0.68 |
USD/Meter |
-0.22% |
11/1/2017 |
|
45S T/C Fabric |
0.72 |
USD/Meter |
0% |
11/1/2017 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.15075 USD dtd. 1/11/2017). The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
American Apparel & Footwear Association, coming time, even without TPP, export growth, garment and textile exports to US, in Vietnam, likely to increase, Nate Herman, seeking their own investment opportunities, Senior Vice President, Southeast Asian country, supply chain, US garment and textile businesses, Vietnam continued to surpass rivals. US garment and textile firms seek their own investment opportunities in VN
Summary:
The Southeast Asian country’s garment-textile and footwear exports to the US are likely to increase in the coming time, even without TPP, according to Nate Herman, Senior Vice President of the American Apparel & Footwear Association (AAFA) Supply Chain as the US garment-textile and footwear businesses are seeking their own investment opportunities in Vietnam after the US withdrawal from the Trans-Pacific Partnership (TPP) earlier this year. The Southeast Asian country’s garment-textile and footwear exports to the US are likely to increase in the coming time, even without TPP, according to Nate Herman, Senior Vice President of the American Apparel & Footwear Association (AAFA) Supply Chain as the US garment-textile and footwear businesses are seeking their own investment opportunities in Vietnam after the US withdrawal from the Trans-Pacific Partnership (TPP) earlier this year.
Source: Yarns and fibres
Pakistan’s commerce and textile minister Muhammad Pervaiz Malik recently informed the senate standing committee on commerce and textile industry of his resolve to revive the textile sector through the PKR 162-billion trade enhancement package announced by the former prime minister. The committee meeting was chaired by senator Syed Shibli Faraz. After the execution of trade enhancement package, the ‘zero rating’ for textile sector would be introduced, senior commerce ministry officials told the committee, according to a Pakistani news agency report. About Rs. 946 million was allocated under the Public Sector Development Program 2017-18 for three textile projects, the committee was informed.
Source: Fibre2fashion.
Amazon is always the elephant, the 800-lb gorilla and the inconvenient truth in the room, but some seem to think companies are unnecessarily quaking in Amazon’s wake.
It’s no secret that Amazon has been slowly and quietly encroaching on the apparel space, with new private label brands, more targeted marketing and a previously reluctant Nike finally agreeing to sell with the e-commerce behemoth—and that forward movement into the apparel space isn’t expected to let up. Analysts at Cowen & Company have said Amazon will surpass Macy’s to become the largest apparel seller in the U.S. this year, and that the company’s gross margin value should rise from $22 billion in 2016 to $62 billion by 2021. “I think Amazon has changed the world and the way we shop and I actually think it’s a really exciting time,” Bonobos chief supply chain officer Liz Hershfield said during a panel at the recent Sourcing Journal Summit in New York City. “Walmart is right up there with it, obviously, [thanks at least in part to its acquisition of both Bonobos and Jet.com] with the strategy from an e-commerce perspective, so I think it’s going to be interesting to see what happens, because they are just all over the place, in every piece of the business you can imagine. They are going for world domination.” World domination may be all well and good when it comes to goals for Amazon to strive for, but to Untuckit chief supply chain officer Bjorn Bengsston, Amazon is just another piece in the apparel industry’s puzzle. “We tend to read these big headlines that Amazon is going to take over business etcetera etcetera,” Bengsston said, adding, “It’s just another player and I don’t think Amazon yet has proved to us they’ll be able to sell fashion product to a great extent.” Untuckit’s favored dress shirts designed to be worn untucked can be found on Amazon, and though Amazon has very quickly expanded its fashion offering, basics is whatBengsston says they’ve been best at. And though they’re expanded on the private label side, that business is still in its nascent stages. “I think it’s dangerous to overestimate the impact that Amazon will have,” Bengsston said. “I think they will be an important player, but it also depends on business to business and which business you’re in and who your customer is.” It’s still possible that Amazon is simply having its day, as Macy’s once did, so thinking of Amazon as the end all for apparel may be the wrong approach. “I think Amazon is just another route to the customer,” PVH chief supply chain officer Bill McRaith said. At this point, he added, he’s not sure whether to consider Amazon a FedEx 2.0, a sort of delivery mechanism to the customer, or an updated version of a catalog with a FedEx 2.0 element. “What I know is they’re another player who is in the mix…they are important just as everyone else is important.” What the industry shouldn’t be doing, McRaith cautioned, is writing off brick-and-mortar as dead or dying—though it may be presently indisposed. “Brick-and-mortar retail last year grew exactly the same rate as e-commerce did: $30 billion for retail, $30 billion for online. Now the sizes are completely different, so certainly there’s a different percentage growth, but everyone is important,” McRaith said. “The question is, do you have strategies built that allow you to support all the models, however the customer wants to buy the product? Do you have a model that actually works in all of this? That’s what we’re trying to do.” Whatever the approach, a lack of those necessary strategies or any inefficiencies in the supply chain, could very well position brands and retailers to fail in the face of Amazon, which is scooping up startups—and will likely continue to. It’s most recent acquisition was of Body Labs, a company creating lifelike 3-D body models and can use a photo of a woman to generate custom 3-D print-knit clothing within 30 minutes on a Shima Seiki machine. As founder and managing director of innovation accelerator XRC Labs, Pano Anthos, said during a separate talk at the Summit, “Amazon is actually as nimble as any startup.”
Source: Sourcing Journal Online
ISLAMABAD: Textile machinery imports into the country increased by 26.53 per cent during the first quarter of current fiscal year (July-September) as compared to the same period of last year, according to Pakistan Bureau of Statistics (PBS). According to the data provided by the PBS, Textile machinery worth $146,384 were imported during the first quarter of current year as compared to $115,694 of last year. Construction and Mining machinery worth $100,524 were imported during the first quarter of current year as compared to $117,666 of last year. Construction and mining machinery imports into the country decreased by 14.57 per cent during the first quarter of current fiscal year as compared to the same period of last year. Power Generating Machinery worth $697,287 were imported during the first quarter of current year as compared to $836,331 of last year. Power Generating Machinery imports into the country decrease by 16.63 per cent during the first quarter of current fiscal year as compared to the same period of last year. Office Machine including data worth $99,674 were imported during the first quarter as compared to $148,327 of last year. Office Machine imports into the country decrease by 32.80 per cent during the first quarter of current fiscal year as compared to the same period of last year.
Source: Business Recorder
Vietnam is seen rapidly improving its supply chain for locally made garments and taking part in more free trade agreements with increasing number of overseas buyers are sourcing products from the country. Pham Thiet Hoa, director of the HCM City Investment and Trade Promotion Centre (ITPC), speaking on the occasion of the business-to-business fashion trade show which wrapped up in Hong Kong on October 31 said that the availability of a young, skilled labour force is also attracting foreign buyers to the country. As many as 27 leading Vietnamese manufacturers of garments, textiles, fashion accessories and garment-related industries displayed their products at the Global Sources Fashion Show showcasing quality garments, textiles, and products and services from fashion-related industries. ITPC is supporting most of the Vietnamese pavilions as part of its mission is to help HCM City businesses and attract foreign investment to Vietnam. Hoa said that as Vietnam is becoming a more attractive complementary garment sourcing destination for overseas buyers, they are seeing an increasing number of multinational firms from Taiwan, Hong Kong and Singapore making not only completed finished clothes, but also buying fabrics, textiles, yarns, plastics, printing and other accessories. They are also looking to expand their production capacity in Vietnam and are shifting their production bases to Vietnam to enjoy tax incentives and other advantages. Vu Ngoc Khiem, chief representative of Global Sources, said that in collaboration with ITPC, they have created a one-stop shop sourcing platform, for yarns and fabrics to completed clothes, from labels and tags and interlining fabrics to textiles and fashion bags, hats, caps and jewelry, so that buyers can meet businesses offline. According to Khiem, Vietnamese exhibitors have improved their manufacturing capabilities and expanded markets, finding new business buyers and growing exports. Vietnamese-made garments can be alternatives to Chinese suppliers. The idea of their show is to help their buyers get in front of Vietnam’s top-quality export manufacturers at one trade-show floor where decision-makers can meet and negotiate trade possibilities. They have seen a trend where many export orders are shifting to Vietnam not only because China is heading toward more sophisticated higher-value manufacturing industries but also because Vietnamese makers have stepped up to a new level of FOB export capabilities, and are more ready to compete with rivals via differentiation and excellent services, not just cost advantages anymore. Many of Vietnam’s products will be featured during the fashion parade and at the New Market Pavilion. According to Pham Minh Huong, director of the Vietnam National Textile and Garment Group (Vinatex), this is the third B2B tradeshow that Vinatex has exhibited with Global Sources. Vinatex aims to show buyers theirr wide range of production scale from small to mass production, and their one-stop sourcing house for buyers, from woven to knit items, with their developing ODM services. The four-day tradeshow hosted 1,800 booths of accessories, fabrics and apparel from Vietnam, China, the Republic of Korea, India and the Philippines.
Source: YarnsandFibers
Myanmar SUMEC Win Win Garments Co. Ltd, Myanmar’s largest garments exporter and a subsidiary of SUMEC Textile and Light Industry Co. in China, recently opened a new factory in Shwe Pyi Thar industrial zone in Yangon. More Chinese firms are now investing in Myanmar with its economy opening up, Chinese ambassador Hong Liang said at the inaugural function. The new factory is designed to host 50 production lines — 40 operational at present — with the annual capacity to produce 4 million pieces of garments. The company's yearly capacity can be upgraded to 10 million pieces, raising its export to $100 million, according to a Chinese news agency report. Preferential policies and a vast labour market offer Myanmar a great advantage in the textiles and garment sector and the new factory will create more jobs and contribute to the country's economic growth, U Aung Htoo, deputy minister for commerce said.
Source: Fibre2fashion.
The textile industry is the next dirty frontier when it comes to the need to recycle and reduce the amount of clothing that finds its way into landfills and oceans, a Zero Waste conference sponsored by Metro Vancouver heard Wednesday.
The question is what to do about it.
Metro Vancouver announced in 2016 it planned to look at a potential ban on textiles at disposal sites in the region, but for now has decided against it. “It’s complicated,” Karen Storry, a regional zero-waste senior project engineer, said in an interview. “I don’t think we’re there yet. “This is all so new. It’s a big problem and there aren’t a lot of solutions. The good news is the conversation has started and people are starting to invest in solutions.” Storry said an estimated 40,000 tonnes of textiles — half of that clothing, the other half a variety of household products including pillows and linens — are delivered to disposal facilities in the region annually, representing about five per cent of total waste. When someone brings old clothes to a thrift shop, they are usually put on the sales floor, but if they don’t sell, they may go to one of half a dozen sorter-and-grader companies in the region, she said, noting the sector accepts about 40 million kilograms annually. These companies categorize the unsold garments for specific overseas markets where they are eventually sent, mostly in the developing world, she said. “Whatever sells well in their countries is what they’re asking for.” Of the clothing that goes to sorter-graders, about 50 per cent is sold overseas, 20 per cent is made into absorbent material such as rags, 20 per cent is used in various other industrial uses — the so-called “shoddy and mungo” sector — such as automobile sound insulation, and 10 per cent goes for disposal, Storry said. Less than one per cent of garments is actually made into new garments. “These companies are doing as much as possible with the materials they receive,” she said. “But whatever they can’t deal with in a responsible manner comes to our (waste) facilities. If we (want) a disposal ban, it’s not simple. Does it make sense to impact thrift stores and graders who are trying to find a home for these materials.” Brock Macdonald, chief executive officer with the Recycling Council of B.C., said the textile industry needs a “major rethink on design, some entrepreneurial innovators who are going to look at how clothes are made, how we can be more efficient … to create clothes that are more durable and don’t just end up in the landfill, and can have secondary and tertiary uses,” Macdonald said. The mixing of natural materials (such as cotton) with synthetics (such as polyester) creates added problems, he said. Macdonald noted that Dutch MUD jeans leases its apparel to consumers and “when you’re finished, you take it back to get another pair of jeans, and they actually take all of those fibres, rip them out, recycle them, and incorporate them into the next pair of jeans. That’s really the model for a circular economy.” Government incentives such as lower sales taxes on consumer goods better designed for longevity and improved recycling are one option, Macdonald added. He encouraged consumers to buy quality clothing that lasts. “I’ve got clothes that are older than some of my children,” he said. “That’s the way to do it.” Close to 500 people attending the Zero Waste conference heard that preliminary work is underway into finding solutions to recycling textiles. The problem is that consumers buy clothes more often than they used to, including to keep up with the latest fashion trends, and, as a result, don’t keep them as long. The industry also has a large environmental footprint, extending from water use to sourcing materials to production and distribution. Microfibres from clothing are also finding their way into the ocean, posing a threat to marine life. A recent study by Southampton Solent University found that as many as 2,000 fibres from fleece and polyester fabrics are released during a single washing cycle. Almost all of those find their way through municipal sewage systems to the ocean. Peter Ross, director of the Vancouver Aquarium’s ocean pollution research program, has determined there are on average more than 3,000 particles of plastic in one cubic metre of sea water in the Strait of Georgia. Microplastics can be ingested by plankton, invertebrates and other marine life forming the base of the food chain. Ingestion of plastics may also make organisms think they are full, causing them to starve.
Source: vancouversun.com
The latest sensor technology has led us to the creation of a new type of smart textile that can alert you when it detects hazardous materials.Those working with the most dangerous of materials will soon get added protection thanks to the latest developments in fabric technology from Dartmouth College in the US. In a paper published to the Journal of the American Chemical Society, a team of researchers revealed its new SOFT material, an acronym of Self-Organised Framework on Textiles. Aimed at any profession where a ‘hazmat’ suit is needed – such as in the military or emergency services – SOFT is supposedly the first demonstration of simultaneous detection, capture, pre-concentration and filtration of gases in a wearable that uses conductive, porous materials integrated into soft textiles. “By adding this fabric to a protective suit, sensors can alert the user if a chemical is penetrating the hazardous-material gear,” said Katherine Mirica, who was involved in the research. “This is not just passive protection; the textile can actively alarm a user if there is a tear or defect in the fabric, or if functional performance is diminished in any other way.” Experiments conducted with the material showed it was capable of detecting common toxic chemicals such as nitric oxide (found in exhaust fumes) and hydrogen sulphide, a corrosive poison. The SOFT material was able to capture and filter these toxins. This system is among the first to demonstrate flexible, textile-supported electronic sensors based on materials known as metal-organic frameworks, or MOFs. “MOFs are the future of designer materials, just like plastics were in the post-WWII era,” said Mirica. “By integrating the MOFs into our SOFT devices, we dramatically enhance the performance of smart fabrics that are essential to safety and security.” Mirica and the rest of her team believe that the SOFT devices featuring MOFs display reliable conductivity, enhanced porosity, flexibility and stability to washing. The fabrics are also stable in heat, have a good shelf life and retain full utility under humid conditions. While it still requires a lot more development before it can used on any wearable systems, the team is hoping that SOFT material created using MOFs has the potential to be extended into other systems, producing a range of novel, multifunctional e-textiles.
Source: siliconrepublic
A German research project has seen chemical suppliers and the sporting goods industry work together on finding marketing opportunities for safe chemicals, triggered by the REACH Regulation. Results of the SuSport research will feed into the EU Life AskREACH project, which plans to develop an EU-wide phone app for identifying substances of very high concern (SVHCs) in products. The Society for Institutional Analysis (Sofia) at the University of Applied Sciences, Darmstadt, began SuSport in 2015. It is funded by the German Federal Environmental Foundation (DBU) using public money. Results are due to be published in December this year and will be used to inform the supply chain IT system of the AskREACH project. This will help manufacturers obtain the relevant information about SVHCs, requested by the consumer app. Both chemical producers that supply the textile sector and sporting goods trade associations were involved in the project. This included the chemicals producer associations TEGEWA (Association of Textile and Leather Chemicals Manufacturers) and BSI (the Federal Association of the German Sports Goods Industry). Speaking at the recent Chemical Watch Nordic Summit in Copenhagen, Martin Führ (pictured), professor at Darmstadt University, said: "Better chemicals now have a better chance to perform on the market because the REACH Regulation increases transparency, cuts out not-so good competitors through restrictions and authorisations." But there has to be a demand pull for safer chemicals so that chemical suppliers can have a chance on the market, he added. The project, he said, aims to discover how to "create a system that brings demand pull right up to the chemical suppliers in order to promote less toxic chemicals."
Futuristic scenario
Several workshops were held involving the suppliers and sporting goods companies in 2016. But neither the suppliers nor brands were willing to take responsibility for action. "In our test, there was a consensus there is a problem and something should be done – but everybody said not by me," Professor Führ said. Chemical companies said that although they had better alternatives, there was not sufficient demand for them from textile mills in Asia. The brands said they were willing to exclude SVHCs, but it was difficult because of the cost of testing. To combat this mindset, the researchers ran four workshops this year in which participants were encouraged to 'backcast', by imagining the textile industry in 2030 and different scenarios that could play out. Professor Führ said: "We thought of impact factors which were relevant in 2013. The actors themselves asked how these interacted. They themselves created a future. This opened their mindset." Participants then wrote 'novels' looking back from 2030 about how the scenarios took place and presented them to the group. They came up with two storylines – one called Muddling Through in which no major changes had been made to industry and one called Boldly Ahead, in which the textile sector had become more sustainable. These were produced to look like Unep reports. Through these imagined futures, the participants had the choice to take action to create the future they wanted.
Supply chain communication
Participants concluded that the two most important impact factors were traceability of chemicals in the supply chain and knowledge about substances and processes. These two factors would enable brands and retailers to know what is happening in their supply chains. The results will now feed into the AskReach IT tool for suppliers, which will help manufacturers supply information for the consumer app. "The app will only work with proper supply chain communication," Professor Führ said. Front-runner companies involved in the project will be able to test IT tools for traceability, to see whether they are appropriate for their needs and can be integrated into contracts. "There could be some contractual provisions to say you have to feed into the database or you can't be a supplier for certain companies," Professor Führ said. "The whole system only works when it has been fed from the very beginning. Chemical suppliers need to be transparent about the ingredients of their formulations." The companies can also use the research to inform their own internal policies. Professor Führ hopes that trade associations will encourage their members to join the AskReach project. "They have the unique chance to be part of the boldly ahead movement. We have the opportunities for the actors to take this forward," he said.
Source: Chemical Watch
