The Swiss Oerlikon Group’s new nonwoven business unit received very positive feedback from visitors to this year’s nonwovens exhibition SINCE 2017, which ran from 8th to 10th November in Shanghai, China. Visitors to the attractively designed Oerlikon stand were especially interested in the spunbond technology for technical applications.
Rainer Straub, head of the nonwoven business unit that had been newly created by the Oerlikon Manmade Fibers segment in the middle of the year, declared himself highly satisfied with the three lively exhibition days in the World Expo Exhibition and Convention Centre: “The talks have shown that we are on the right path with our
strategy and the development of our technologies. Especially the optimisations of our spunbond process and the resulting increase of nonwoven qualities in terms of strength and elongation impressed the visitors.”
Also greatly in demand were Oerlikon’s meltblown and airlaid technologies as well as the solutions for the manufacturing of wipes and other disposable nonwovens, which were offered in cooperation with Teknoweb
Materials s.r.l.. All in all, the Oerlikon group’s nonwoven team are delighted with the positive outcome and can look back in satisfaction on intensive talks of high quality with customers and prospects as well as numerous concrete inquiries.
DuPont Protection Solutions (DuPont) presented its new DuPont™ Nomex® based fabrics and innovative protective solutions for firefighters and industry workers at A+A in Dusseldorf, Germany. Among other advantages, these products offer better protection for industry workers against the thermal effects of electric arcs. In addition, winners of the “Nomex® Innovation Award 2017” were honoured at a gala ceremony at the show. The award is open to members of the DuPont™ Nomex® EMEA Partner Program, a carefully selected network of spinners, weavers, knitters and garment manufacturers.
The 50th anniversary of Nomex® inherently flame-resistant fibres was another highlight of the fair, in addition to various activities presented at the stand and throughout the year. DuPont invited its key partners worldwide – the partner program currently comprises 125 companies in 40 countries all over the globe – to a dinner at the iconic Rhine Tower to celebrate the occasion and express their appreciation for their support in making the brand what it is today.
Innovative Protective Apparel for Firefighters and Industry Workers
For firefighters, DuPont presented garments featuring new outer shell fabrics such as Nomex® NXT, Nomex® 3DP and Nomex® 360 and introduced the new cutting-edge materials Nomex® Nano and Nomex® Nano Flex. The unmatched Nomex® technology provides maximum thermal protection with increased wearer comfort and offers an efficient barrier against toxic particles.
To protect industry workers from the thermal hazards of an electrical arc, DuPont showcased new Nomex® brand fibre-based fabrics combining very high arc resistance with optimized wearing comfort. Samples undergoing IEC/EN 61482-1 (Method A) arc flash testing have achieved ATPVs (arc thermal performance values) between 4 and 100 cal/cm2.
Nomex® Innovation Award – Outstanding Innovations to Protect Human Lives
The DuPont™ Nomex® Innovation Award honours companies within the DuPont™ Nomex® Partner Program that are demonstrating excellence in terms of design or system integration and provide added performance or functionality. Various Nomex® partners have participated in this year's awards, particularly in the “Fire-Fighting Innovation” and “Thermal Industrial Innovation” categories.
The winners in the “Fire-Fighting Innovation” category were:
In the “Thermal Industrial Innovation” category, the award went to:
Source: Tecoya Trends
The threat of the rupee weakening to 66 eased in the past week. The currency managed to sustain above the support level of 65.5 and strengthened sharply against the US dollar last week. Thanks to the ratings upgrade from Moody’s, the rupee opened with a wide gap-up and rose sharply higher, breaking above 65 to an intra-week high of 64.62 on Friday.
Moody’s upgraded India’s rating to Baa2 from Baa3. However, the impact of this ratings upgrade on the currency was short-lived as the rupee reversed lower immediately from the high of 64.62, giving back most of the gains and tested 65 levels again. This reflects the inherent weakness in the rupee. It also suggests that the concerns on recent weak macroeconomic data releases like the widening trade deficit is weighing more on the rupee. The currency hit a low of 65.12 before closing at 65.09 on Monday, up 0.51 per cent for the week.
Dollar supports
Weakness in the US dollar also supported the rupee, helping it recover in the initial part of the week from around 65.5 levels. The dollar index (93.75) declined below the key support level of 93.85 to make a low of 93.40.
Though it managed to bounce back from this low, the index is not gaining momentum to rise past 94 again.
After testing this psychological resistance level of 94 several times since Thursday, the dollar index has come off again.
It is likely to dip and test the next support level of 93.30 in the near term.
A strong break below this support can take the index lower to 93 and 92.7 in the coming days. Such a fall may limit the downside in the rupee in the near term.
On the other hand, if the dollar index manages to reverse higher from 93.3, a rise to 94 can be seen again.
A range-bound move between 93.3 and 94 is possible for some time in that case.
A strong break and a decisive close above 94 is needed for the index to gain fresh momentum. Such a break will ease the downside pressure and take the index higher to 94.5 and 95 thereafter.
Rupee outlook
The sharp and immediate pull-back from the high of 64.62 last week indicates lack of fresh buyers for the rupee in the market. Immediate resistance is at 64.85. As long as the rupee trades below this hurdle, a fall to revisit 65.50-65.55 levels is possible in the coming days. A strong break and a decisive close below 65.55 will increase the likelihood of the fall extending to 65.8 or even 66 levels thereafter.
On the other hand, if the rupee manages to breach the immediate resistance at 64.85 in the coming days, it can strengthen to 64.60 again. Further break above 64.6 will see the currency moving higher to 64.5 or 64.4 thereafter. A dluster of resistances are present between 64.6 and 64.40. So, the pace of the upmove beyond 64.6, if seen, could be slow. Also, the rupee’s strength is expected to be capped to 64.4 as a break above 64.4 looks unlikely at the moment.
Source: Business Line
We are an EOU (export oriented unit). Our items are not covered under SION (Standard Input Output Norms). The wastage is more than two per cent but we do not have any domestic sales, even of wastage. Are we still required to get the norms fixed?
As per CBEC Circular no. 12/2008-Cu dated July 24, 2008, SION should be applicable not only for waste cleared in the DTA on payment of duty but also for accounting of input consumption for manufacture of export products. For items having no SION, consumption of inputs shall be allowed subject to generation of waste, scrap and remnants up to two per cent of the input quantity. However, if any item in addition to those given in SION is required as input or where generation of waste, scrap and remnants is beyond two per cent of the input quantity, consumption shall be allowed on the basis of self-declared norms for a period of three months till the jurisdictional Development Commissioner fixes ad hoc norms subject to an undertaking by the unit that the self-declared/ad hoc norms shall be adjusted in accordance with norms as finally fixed by the Norms Committee in DGFT for the unit. Further, a provision has also been made to consider such cases by the Board of Approval for an appropriate decision in case of difficulty in fixation of SION by the Norms Committee.
We have placed an order for machinery from a German manufacturer. We want him to use one of the components made by a French manufacturer, whom we will pay separately. So, the invoice of the German manufacturer will not include the cost of that component. How will Customs handle this transaction, as the invoice of German manufacturer for the goods he ships will be only for what he charges us?
In terms of Rule 10(1)(e) of the Customs Valuation Rules, 2007, Customs will load any payments made as a condition of sale of the imported goods, by you to the French manufacturer, to satisfy an obligation of the supplier to the extent that such payments are not included in the invoice. So, you have to declare this payment in the declaration of value of the goods (known as GATT declaration) that you are required to furnish under Rule 11 of the said Rules.
We book orders for foreign companies in India and get commissions in foreign currency. We pay GST at 18 per cent, as the place of supply of our intermediary service is in India. How do we report this transaction?
You may report it in Table 5 or 7 of GSTR-1 return, depending on your invoice value.
Under the EPCG scheme, we had an option to pay additional customs duty (CVD) in cash and take up the export obligation only on the basis of the basic customs duty saved, provided no Cenvat Credit of the CVD was taken (Para 5.01 (e) of FTP). Is a similar provision available in the GST regime?
No. That Para 5.01 (e) was also deleted through notification 33/2017 dated October 13,2017.
Source: Business Standard
The rupee retreated from its near one-week high and ended lower by 10 paise at 65.11 against the US dollar in a restricted trade amid stray dollar demand.
Forex market sentiment turned little nervous and witnessed lethargic trade as currency traders preferred to stay on the sidelines after the rupee’s remarkable breakout over the weekend.
A sudden rebound in global crude prices after its two-day fall also added to the pressure on the trading front, though abundant capital inflows largely cushioned the fall.
Global credit rating agency Moody’s on Friday upgraded India’s sovereign credit rating by a notch to ‘Baa2’ with a stable outlook citing improved investment climate along with other reform measures.
The rating upgrade is likely to trigger more capital inflows into the country, a forex dealer commented.
Brent crude, the international benchmark, is trading at $ 62.20 a barrel in early Asian trade.
In the meantime, Foreign investors and funds pumped a whopping over $ 2 billion in the Indian equity markets this month so far, enthused by the government’s announcement of recapitalising PSU banks, improvement in global sentiment and stable currency.
According to depository data, foreign portfolio investors (FPIs) infused a net sum of ₹ 14,348 crore ($ 2.2 billion) in equities during November 1-17.
Meanwhile, domestic equities managed to close in the positive zone with a small gain, stretching their winning run for the third straight session led by select frontline stocks.
Earlier at the Interbank Foreign Exchange (forex) market, the rupee resumed marginally higher at 64.96 compared to last weekend close of 65.01 on bouts of dollar selling and also underpinned by Moody’s decision to upgrade the ratings.
But, it soon lost momentum with caution creeping back into trading sentiment after the recent sharp move against the US dollar.
The local unit hit an intra-day low of 65.13 before ending at 65.11, a loss of 10 paise, or 0.15 %.
The rupee had settled at a one-week high of 65.01 last Friday.
In cross-currency trades, the rupee drifted sharply against the Pound sterling to end at 86.30 from 85.79 per pound and also fell back against the Euro to finish at 76.76 from 76.71.
The home unit also remained subdued against the Japanese yen to close at 58.06 per 100 yens from 57.75.
On the global front, the greenback pared early gains against other major currencies, as uncertainty over the fate of a major U S tax overhaul and political turmoil in Germany dominated market sentiment.
Meanwhile, the U S House of Representatives on Thursday approved a broad package of tax cuts, which will now be debated by the Senate.
The dollar index, which measures the greenback’s value against a basket of six major currencies, was up at 93.65 in early trade.
Elsewhere, the common currency euro is trading a bit higher against the US Dollar after recovering swiftly from early lows after the German coalition talks collapsed as deal breaking FPD said it would support minority government.
Pound sterling maintained its up move on expectations that the UK government’s committee meeting will consider Brexit’s key controversy-the bill for leaving the EU at a meeting of the Brexit cabinet sub-committee on Monday.
In forward market today, premium for dollar continued trading weak owing to sustained receiving from exporters.
The benchmark six-month premium payable in April dropped to 123-125 paise from 127-129 paise and the far forward October 2018 contract also declined to 262-264 paise from 266 -268 paise last weekend.
On the International energy front, crude prices eased modestly, as traders were reluctant to take large positions ahead of an OPEC meeting next week, when the exporter group is expected to decide whether to continue output cuts aimed at propping up prices.
Brent crude futures were at USD 62.37 per barrel, down 35 cents on the day, while U S West Texas Intermediate (WTI) crude futures were down 7 cents at USD 56.48 a barrel.
Source: Financial Express
Claiming that more than 20 farmer suicides have taken place over the last 11 days among cotton farmers in Warangal district of Telangana, the Rythu Swarajya Vedika, a Telangana farmers’ association, began its three-day protest at Parliament Street in New Delhi from Monday along with farmers and families of those who have committed suicide.
The farmer protest is being held under the banner of the All India Kisan Sangharsh Coordination Committee, in which about 1,500 farmers from both Andhra Pradesh and Telangana are participating.
The Telugu Desam Party (TDP) is also conducting a one-day protest on Monday in at Nalgonda district to raise the same issues along with asking for higher minimum support price (MSP) for farmers in Telangana.
“There was unseasonal heavy rainfall in the first two weeks of October, resulting in crop damage. Because of that the Cotton Corp. of India (CCI) is not buying cotton from farmers, stating that their yield has about 12% of moisture. And private traders are paying farmers anything between Rs2,800 and Rs3,500 against the minimum support price (MSP) of Rs4,320, knowing that the latter are left with no choice,” said Kondal Reddy, joint secretary of the Rythy Swarajya Vedika (which is active in both Telangana and Andhra Pradesh).
Reddy said that those who have gone to New Delhi for the three-day protest include members from 70 families affected by farmer suicides. “Though rainfall was not less this year, there were a lot of dry spells during the monsoon season which has also caused a lot of problems for farmers,” he added.
In Nalgonda district, TDP leader Mothkupalli Narsumhulu will conduct a day-long protest in front of the district collectorate along with other party members to raise farmers’ issues, including suicides. The issue of cotton prices crashing was not unprecedented as the crop was sown on 49% of the total cultivated land this year, as farmers took to it on expectations of good returns keeping in mind last year’s prices.
For the first time since Telangana’s formation, the area of cotton cultivation in 2017-18 touched nearly 19 lakh hectares, which is more than 50% higher than the previous year’s 12.4 lakh hectares. Due to this, the state government had asked the Cotton Corp. of India to set up 59 additional procuring centres, apart from the 84 existing ones.
When asked about the issue of cotton prices crashing, an official from the agriculture marketing department, who was not willing to be quoted, said that the prices of cotton will improve during the second pickings of the crop in the coming days.
Kiran Kumar Vissa, a member of the Rythu Swarajya Vedika from Hyderabad who went to New Delhi for the protests, said that the protests began at around noon. Further course of action, if needed, will be decided in the following days, he told Mint.
Meanwhile, TDP leaders, including Mothkupalli Narsumhulu, Telangana TDP president L.Ramana and others, were detained by the Nalgonda police on Monday evening and taken into custody.
Source: The mint
The Indian Oil Corporation Ltd (IOCL) recently signed two agreements at the Petrochemical Investors Conclave in Bhubaneswar. The first was with the Industrial Development Corporation of Odisha (IDCO) to set up a plastic manufacturing park in Paradip and the second with purified terephthalic acid manufacturer MCPI Ltd for a textile park in Odisha state.
IOCL is setting up a polypropylene unit at the Paradip Refinery with a capacity of 700 kilo tonnes per annum. To be commissioned in 2018, this will serve as a mother plant for downstream polymer or plastics ancillary units, according to a press release from the ministry of petroleum and natural gas.
With the coming up of an mono ethylene glycol (MEG) unit at the Paradip Refinery and availability of purified terephthalic acid in east India, the polyester downstream industry can flourish very well in eastern region as well, said union petroleum minister Dharmendra Pradhan.
The proposed textile park will popularise synthetic textiles and benefit micro, small and medium enterprises by employing up to 22 lakh people, he added. (DS)
Source: Fibre2Fashion
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Surat mehnat se nahi darta hai (People of Surat don’t shirk hard work). These were the words of Nitin bhai, who owns a fabric shop along the Ring Road in the heart of central Surat. The district is a permanent home to countless packets of silk, synthetic, cotton, viscose, nylon in blue, white, green, red, black with paintings and glitters on them. The smell of cloth thickens the air as one enters a space where hundreds of buyers and sellers inhabit at once. Ask Nitin about the impact of the Goods & Services Tax (GST) on his industry and life and he says Surtis can turn the tide of misery by rowing harder. But this time, they feel let down by the BJP-led NDA government at the Centre.
The workers here may be flawlessly skilled in various segments of textile production but haven't finished middle-school. He gives the example of Surti artisans like Karan bhai lace wala and Vimal bhai embroidery wala from Varachha (North-East Surat); Raseeq bhai from Katargam (North Surat) who applies sequins and lace on clothes and Guddu bhai who is a handiwork artisan. None of them know how to fill out basic forms.
"A saree is made after a 17-part process and manufacturers, traders and artists are dependent on each other. Do these people have the time or the money to hire accountants, and can they operate computers and smart phones? The people of Gujarat understand the basics of business but they’re not economic experts. This strange and complicated tax is certainly pressuring us at the moment and will impact the percentage of votes," says Nitin bhai who has been in the business of synthetic fabrics for the past 16 years.
The market isn't upset about the intent with which the GST was inducted, but the complete lack of empathetic communication of the government with the locals during its implementation. The market isn't upset about the intent with which the GST was inducted, but the complete lack of empathetic communication of the government with the locals during its implementation.
Tarachand Kasar, president of the All India Textile Traders’ Association and the convener of the Textile GST Sangarsh Samiti, was a long-standing supporter of the BJP. However, Tarachand has recently joined the Congress. He felt reassured after Rahul Gandhi’s roadshow in the silk city, where the Congress vice-president slammed the Narendra Modi government over GST implementation and played around with the abbreviation of GST calling it the Gabbar Singh Tax.
However, the Congress has not given a ticket to Tarachand. “We have written to the government several times. No one has addressed our queries regarding the hurried implementation. The government didn’t give us a demo or take the textile associations into confidence before bringing in the tax. Yarn should be exempted from taxation,” he said.
As mentioned on the state government’s Vibrant Gujrat 2017 (8th edition of the biennial summit) brochures, Surat holds the record of the largest producer of man-made fiber and filament fabric with 40 percent share in the country and a daily production of 30 million metres of raw fabric. In Surat alone, the production touches 25 million metres. "The government is clearly aware of the potential of Surat and also of the capabilities and drawbacks of the people, then why has this communication lapse happened?” said a visibly-angry Tarachand. Even those who are joining hands with the Congress only speak about their frustration with the BJP and not in the positive alternatives they’re expecting from Rahul Gandhi.
Balwant Jain, another textile trader who sits in the same market at Udhna, had gone a step further and staged a shirtless anti-GST protest days shortly after it was levied. "We need to make entries again and again for the many multiple transactions we make in this largely informal sector. Imagine if I am a lace-worker and make Rs 200 per every Rs 1,000 order, then I can’t afford to keep a computer or hire a business consultant," he said and added that Gandhi’s charkha spun the fabric of an independent nation but today, that charkha represents a mere ideology that the government might or might not agree with.
Move towards Sosyo Circle, southward from the Central Market and traders and manufacturers will tell you a slightly different story. A trader who runs the Standard Mill shares that he is a thorough bhajapa (BJP) supporter and that he is trading since many years in Gujarat for the simple reason that the state offers greater ease of doing business. “Here, the labour laws are simpler than in a state like West Bengal. But, in the last few months after GST was rolled out, the market is facing complications because of implementation flaws." He shared the story of his goods being returned from the Uttar Pradesh borders just a few days ago because the buyers there failed to generate an E-way bill.
A copy of one of the several complaints by the Textile GST Sangarsh Samiti which was sent to the government. The trader tried to explain to them that the E-way bill has been deferred till 31 March because there isn’t any system to initiate it.The E-way bill is an electronic way bill for the movement of goods that can be generated on the GSTN, a common portal. A movement of goods of more than Rs 50,000 in value cannot be made by a registered person without an e-way bill. There’s also a segment that outlines the positives of GST.
Harshit Jariwala, a third-generation fabric manufacturer, welcomes GST because it is slowly taking the textile industry towards a formal economy. "The E-Way bill will enable the government to keep a track on each cargo despatch on the country’s highways and increase accountability among traders and transporters. It was quite common earlier that a trader sending goods from Mumbai to Bhiwandi will show Surat or a destination in another state. The benefit of this is that the Central Sales Tax (central govt. tax) is two percent and Value Added Tax (state govt. tax) is 5 percent. Because of a lack of coordination between the central and state government, a lot of people were such cheating was quite common," explains Harshit. Congress vice-president Rahul Gandhi met traders and merchants from the textile industry during his recent road show in Surat. Image procured by Pallavi Rebbapragada.
He also adds that textile has been a kuccha economy. “Earlier, there was an 18 per cent duty on the yarn and we sold clothes tax free. This means that in the chain of traders-wholesaler-retailers, only the retailers paid five percent VAT. Now, everybody in the chain has to pay five percent.” He believes that the supporters for the Congress from within the textile market are only those looking to align with the party politically through movements or by contesting, and not the general public.
It must be understood that the GST came in at a point when the industry was already in transition. In the last two years, the seven to eight lakh power looms in Surat have started shutting down one by one. Manufacturers are investing in imported machines like the Jacquard that are made are Italy and cost up to Rs 80 lakh. The power looms are being junked at rates as low as Rs 18,000. “The industry is already grappling with a change and there is fear and anxiety among people about this change. High-value addition and decorative fabrics are becoming popular and in the last two years, over a lakh power looms have been smashed to pieces,” Harshit, who holds a mechanical engineering degree from NIT Surat, said.
His classmate at NIT Rohin Dumaswala, whose family owns 96 power looms, runs a large weaving and manufacturing unit in Katargam (North Surat), said, “There are more than 10,000 power looms in our area and the technical upgradation is haphazard. Earlier, the government used to offer better subsidised loans but these subsidies reduced by 15 per cent after 2015. GST has complicated the matters further because financing has become harder because people charge 18 percent GST. Any business, big or small, requires financing.” Rohin also shared that even though the GST is a good move in the long run, the government must read into the mind of the textile sector and even out other issues before they proliferate.
Surat nee kamaani, Surat maa samaani (What is earned in the lanes of Surat humbly remains in those lanes). This ethic towards work and wealth stems from their culture. Any economic disruption also threatens the way of life which the Surtis have adopted over the years. The resentment towards GST’s implementation is causing unrest but not so much as to jeopardise their 22-year-long bond with the BJP. The rest will be known on 9 December, the day Surat votes for the next government of Gujarat.
Source: First Post
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BHOPAL: Madhya Pradesh State Skill Development Mission (MPSSDM) signed an MoU providing exclusive right to the National Institute of Fashion Technology (NIFT), Bhopal, to provide training to people in textile sector under the Mukhya Mantri Kaushalya Yojana (MMKY). The institute will provide training to around 10,000 candidates in collaboration with several industries, which will provide practical training and recruit at least 70% of pass out trainees as per guidelines of scheme.
The trainees will get 4 grade certificate of ministry of skill development and entrepreneurship. Candidates will get training in 10 or 12 courses depending on industry demand. At present, however, four courses related to spinning have been identified. NIFT joint director Sameer Sood said, "State domicile and Class 8 pass out are eligible for training. " He said, "The training programme will start in 15 days and which will be of one month duration. The training will be provided on batch basis and each batch will include 30 applicants."
Source: Times of India
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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$ 60.86 per barrel (bbl) on 20.11.2017. This was higher than the price of US$ 60.27 per bbl on previous publishing day of 17.11.2017.
In rupee terms, the price of Indian Basket increased to Rs 3959.17 per bbl on 20.11.2017 as compared to Rs. 3908.55 per bbl on 17.11.2017. Rupee closed weaker at Rs. 65.06 per US$ on 20.11.2017 as compared to 64.85 per US$ on 17.11.2017. The table below gives details in this regard:
|
Particulars |
Unit |
Price on November 20, 2017 (Previous trading day i.e. 17.11.2017) |
|
Crude Oil (Indian Basket) |
($/bbl) |
60.86 (60.27 ) |
|
(Rs/bbl) |
3959.17 (3908.55) |
|
|
Exchange Rate |
(Rs/$) |
65.06 (64.85) |
AD/SA Daily Crude Oil Price
Exports by Egypt’s Textile Export Council (TEC) between January and October stood at $673 million, a 3 per cent rise over $651 million in the same period in 2016. Turkey topped the nations importing Egyptian textile with a share of $230.27 million of the exports, followed by Italy ($132.98 million), Saudi Arabia ($26.79 million) and Tunisia ($21.85 million).
Egypt’s textile exports to Germany and Portugal, meanwhile, reached $16.89 million and $13.19 million respectively, according to an Egyptian newspaper report.
A delegation of foreign companies interested in investing in Egypt has already visited the textile industries city in Minya governorate and has shown interest in investing there in 2019, Tec chairman Hassan Eshra said at the recent ‘Destination Africa’ exhibition for readymade in Cairo.
The two day event took place on November 11-12 attracted over 100 exhibitors from 15 different African countries. (DS)
Source: Fibre2Fashion
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Japan’s export growth held steady in October, suggesting that brisk global demand for Japanese cars and electronics will likely carry its economic recovery into the current quarter. Ministry of Finance (MOF) data out on Monday showed that exports rose 14.0 percent year-on-year in October, led by shipments of cars to Australia and liquid-crystal device production equipment and raw materials for plastics to China.
That compares with a 15.8 percent annual gain expected by economists following a 14.1 percent increase in September. The trade figures followed data that showed last week Japan’s economy expanded at an annualized rate of 1.4 percent in the third quarter, driven by solid external demand.
Analysts expect exports will continue to drive growth in October-December as China is seen likely to avoid a sharp slowdown thanks to infrastructure investment, and as progress on tax cuts brightens prospects for the United States.
“Looking at the near term, demand for electronics parts used for new-model smartphones are expected to help Japan’s exports,” said Masaki Kuwahara, senior economist at Nomura Securities.
“In the longer term, brisk demand for capital expenditure in advanced nations will support the global economy and Japan’s exports as receding political uncertainty releases pent-up demand for upgrades of existing production facilities.”
In volume terms, Japan’s exports rose 3.8 percent in October from a year ago, after a 4.8 percent annual gain in September. The value of exports to the United States rose 7.1 percent in the year to October led by motors and construction and mining machinery, following an 11.1 percent gain in the previous month.
Japan’s trade surplus with the United States rose an annual 11.3 percent in October to 644.7 billion yen ($5.75 billion), a source of concern given President Donald Trump’s demand for bilateral trade talks to fix trade imbalances under his “America First” policy.
Source: Reuters
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Uruguay wants to boost its sale of wool to China by expanding into fashion and design, its ambassador to China Fernando Lugris recently said while meeting designers from his country in Beijing. Designers Ana Livni and Fernando Escuder are trying to introduce in China the ‘slow fashion’ concept with Uruguayan wool designs that last longer.
This is another way of bringing wool coming from naturally-fed sheep in Uruguay to China, A Chinese daily quoted Lugris as saying. Since diplomatic relations between the two nations were initiated in 1988, China has become Uruguay's biggest trading partner, as well as the largest importer of wool. China was Uruguay’s top export destination in 2016, accounting for 42.2 per cent of its total export volume. Livni said she wants her creations to be classic and last longer than fast-fashion brands. (DS)
Source: Fibre2Fashion
KARACHI: Textile exports rose eight percent to $4.39 billion in the first four months of the current fiscal 2017/18 as the industry’s value-added sector continued to post recovery in export earnings during the period, official data revealed on Monday. Pakistan Bureau of Statistics (PBS) data showed that textile exports amounted to $4.075 billion in the July-October period of the past fiscal year. Knitwear exports stood at $873.023 million during the July-October period of FY2018, depicting a 10.62 percent increase as compared to the corresponding period a year ago.
Export of bedwear increased 5.44 percent to $755.419 million in the period under review. Readymade garments exports surged 14.8 percent to $803.526 million. Export of made-up articles rose 8.81 percent to $222.183 million, while towel exports remained almost flat at $248.224 million in July-October. Other merchandises that witnessed decent double digital growth in exports earnings during the period under review included raw cotton (up 46.69pc), synthetic textile (soaring 60.61pc) and textile materials (rising 19.48pc). A gradual disbursal of tax refunds, which creates liquidity constraints for businesses, and trade enhancement initiatives are playing an instrumental role in arresting decline in textile exports that fetch more than 60 percent of the country’s total exports of $20 billion. But, the quantum is still much below the potential and compared with regional competitors. It has to be significantly increased to help the government achieve its ambitious $35 billion annual exports target.
Industrialists pin hope on new power plants based on liquefied natural gas to generate comparatively inexpensive electricity to make the country’s exports competitive in the international market. In October, textile exports increased 7.12 percent year-on-year (YoY) and rose 5.09 percent month-on-month (MoM) $1.132 billion. Knitwear exports surged 14.42 percent YoY and rose 8.12 percent MoM. Export of bedwear inched up 0.28 percent YoY and rose 2.96 percent MoM. Readymade garments exports climbed 11.51 percent YoY and jumped 3.35 percent MoM. Export of made-up articles rose 10.6 percent YoY and increased 7.87 percent MoM. Though towels exports were down 2.85 percent YoY, they were up 6.96 percent MoM.
PBS data further revealed that food exports also rose 9.85 percent to $1.072 billion in the July-October period. Exports of rice earned the government $457.663 million in the period under review, showing a rise of 16.87 percent over the corresponding period a year earlier. Sugar exports doubled to $60.922 million during the period under review, while exports of wheat also doubled to $254,000 due to bumper crops. Fruits exports, however, dropped 20.24 percent to $96.713 million in the July-October period. Manufacturing sector comprising chemical products, leather garments, surgical instruments, and sports goods fetched $1.127 billion in export earnings in the July-October period. Total exports, in the period under review, stood at $7.055 billion, up 9.98 percent over the corresponding period a year ago.
Meanwhile, total imports climbed 22.38 percent to $19.162 billion during the first four months of the current fiscal. Oil was the key imports in terms of dollars outflows. Imports of petroleum products, crude and liquefied natural gas surged 39.46 percent to $4.431 billion as international oil prices are rebounding after two years of beating.
Machinery imports edged down 1.38 percent to $3.671 billion in July-October FY2018. Imports of power generation machinery seemed to be tapering down after a constant surge in the past required for energy projects. Its imports were noticeably down 24.58 percent in the period under review. Textile machinery imports recorded a 32.54 percent increase. Food import bill also soared 20.21 percent to $2.198 billion during the period under review.
Source : The NEWS
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Cornell Professor Steve Marschner and Rhode Island School of Design Professor Brooks Hagan have come up with a new technology which allows woven fabrics to be super automated and customised, altering the view that fabrics can not be made in custom small batches. The two took inspiration from Marschner’s research for the digital animation industry.
The collaborators began with a vision to open the textile design process to anyone. “We saw an opportunity to provide a way for anyone to put any design into custom woven fabric. You can log into our web application, upload a design, and see a visual preview of the fabric while you change the weave pattern, yarn colours, etc – and then when you like it you click print,” said Marschner.
Marschner and Hagan have been working on this technology for years – taking inspiration from Marschner’s research for the digital animation industry and also working with Kavita Bala, professor of computer science, and graduate student Shuang Zhao. To get such a realistic rendering of the cloth, they scan samples in a 3-D nano-CT scanner at the Imaging Facility in Cornell’s Biotechnology Resource Centre, which is able to produce volume appearance models with extreme detail. “The tech is now fast and accurate enough for us to shift to a virtual product in an industry where appearance, texture and surface quality are key factors for success,” said Hagan.
The researchers founded Computational Textiles in 2015 and received a Small Business Innovation Research grant from the National Science Foundation to bring their website called Weft to market this year. Phase One of Weft is now online, enabling customisation of designs available on the site, and by late this year customers will be able to upload their own designs or photographs as well as customise the designs already available on the site. Future design plans include being able to show the custom fabric on 3-D objects like pillows or a chair. The company has agreements with several of the largest textile mills in the United States to produce the designed-to-order fabric.
“This new technology can generate interest, creative activity, and new business opportunities for this US industrial sector. This launch is significant as it represents the first time digital simulation tools have been applied to an ancient manufacturing platform to create easy access for designers,” said Hagan. (SV)
Source: Fibre2Fashion
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DHAKA: “My life is full of struggle and suffering. I earn only 20,000 taka ($250) every month to provide for my family of five,” said Mohammad Golam Mostofa, who runs a small tailor house in the capital of Bangladesh.
Mostofa is not alone. He represents many senior tailors who are struggling with the very existence of their profession. While Bangladesh is crowned with being the world’s second largest ready-made garment (RMG) producer country, a group of clothing industry professionals is facing hardship.
Mostofa started his career at 19 but now, after three decades, he can’t see any growth in his profession. He said: “The volume of orders has decreased although per unit the tailoring charge has increased several times. But the increased income cannot cope with the high inflation rate of the market. As a result, my life continues with the same vicious cycle of poverty.”
At 49, Mostofa, a father of three, cannot think of any other career options despite the serious downturn in his business.
“It’s a common phenomena of capitalist society everywhere in the world. Large capital swallows the small units at grassroots level,” said Professor Dr. A. S. M. Aman Ullah, a sociologist at Dhaka University.
“During the last two decades, many large garment industries have been established to cater for the local clothing market. In addition, export-bound RMG factories are providing their leftover clothes in the local market at a cheaper rate. These two things made the tailors’ life even harder. Nearly 50 percent of the tailor houses have shut down across the country in recent years. And I have not heard of anyone who has opened a small tailor shop,” Dr. Aman added. Maybe after two decades there will soon be no such thing as a small tailor house, Dr. Aman fears.
Economist Dr. Pratima Pal Mazumder, who worked for Bangladesh Institute of Development Studies as a senior researcher, said: “Some local small tailor houses now resorted to diversification in their business. They are integrated with large export-oriented garments and work for the export market as an outsourcer of the main supplier. I have noticed that in some cases people are delivering this type of garment, outsourcing services from their home.”
Dr. Pratima, who currently heads the NGO Kormojibee Nari (Working Women), added: “Our fashion trend has also changed with time. Centering different festivals, now the middle class is also wearing a lot of fashionable clothes. Especially in terms of ladies’ clothes, our small tailor shops are contributing a lot. So these shops are diversifying their business to survive.”
However, Dr. Aman suggests that an integrated approach linking the small tailors with the large garment units might help save the livelihoods of such small-unit-owner tailors. Nonetheless, such an approach, although feasible, will require consistent and long-term efforts.
Source: Arab News
