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MARKET WATCH 8 FEB, 2018

NATIONAL

INTERNATIONAL

Union Budget 2018-19 makes a good case for textile sector: TEXPROCIL

New Delhi:  Commenting on the budget, Chairman of The Cotton Textiles Export Promotion Council (TEXPROCIL) Ujjwal Lahoti called the budget “Pragmatic, Growth Oriented and all inclusive”. He praised the government move to increase the financial expenditure under the comprehensive textile sector package for apparel and made ups segments from Rs 6000 crore to Rs 7148 crore. “This initiative will not only promote exports but also increase production in these 2 labor intensive sectors” he said. He further said the sector is expecting that increase in fund allocation for textiles will cover fabrics also under ROSL scheme. Also the government attempt to contribute 12% of the wages of new employees in EPF for all the sectors for next 3 years with the extension of fixed term employment in all sectors and reduction in women employees’ contribution to 8% for first three years from 12 % are also positive steps for the textile sectors, he added. He said these sort of measures will create employment opportunities especially for women in textiles sector and contribute significantly towards “Make in India” campaign. With regard to increase in allocation of funds under the TUF Scheme from Rs. 2013 crores in 2017-18 to Rs. 2300 for 2018-19, the chairman said that the proposal is a positive one. The reduced income tax rate of 25 percent will immensely benefit the micro, small and medium enterprises who have reported turnover up to Rs. 250 crore in the financial year 2016-17. In the matter of export marketing the Department of Commerce will be developing a National Logistics Portal as a single window online marketplace to link all stakeholders. This move will lend a marketing support to the small and medium-sized exporters besides reducing transaction cost, said Lahoti.

Source: Knn India

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EU committed to a FTA with India: Kozlowski  

The European Union is  committed to conclude a free  trade agreement with India and  the two sides are making efforts  to update their positions on  various issues relating to the  pact  its envoy Tomasz  Kozlowski said here.  Identifying terrorism as a  common concern for India and  the EU  Kozlowski said the  heads of different services of  Europol - the EU’s law  enforcement cooperation agency  - were in India to interact with  their counterparts in the country  post the 14th India-EU Summit  organised in October last year.  But when asked about  China blocking India’s bid to  designate Jaish-e-Mohammad  chief Masood Azhar a UNdesignated  terrorist  the EU  envoy to India did not give a  direct answer.  “Our perspective is that we  declare it at international fora  and (in) bilateral relations with  our partners that we are against  terrorism in any form or  manifestations. We agreed with  India to cooperate on designation  listing and we will do it  ” he said.  During the October  summit  India and EU had  adopted a ‘Joint Statement on  Cooperation in Combating  Terrorism’  which sought to  deepen their strategic and  security cooperation.  Kozlowski said  discussions were underway  between Euratom and India’s  Department of Atomic Energy  for an agreement on research and  development on peaceful use of  nuclear energy.  Talks are also progressing  between the EU and the Indian  Space Research Organisation  (ISRO) for a pact on cooperation  in the area of earth observation  the envoy said.  An MoU in this  connection could be signed in  “coming months”  he said in an  interaction with reporters here.  After the 14th India-EU  Summit in October  Kozlowski  said the two sides decided to step  up efforts to re-engage to  relaunch negotiations. The EU’s  chief negotiators for the FTA met  the Indian side informally in  November.  “The European Union is  committed to negotiate and  conclude Free Trade Agreement  both trade and investment  agreement  with India. We are  committed to that  ” he said.  “And now  we have a series  of contacts at experts level  discussing different aspects of  the possible agreement. The next  meeting of chief negotiators will  be held soon. We are very much  engaged in the process of  discussing a possible  agreement  ” Kozlowski said.  He said a number of  expert-level meetings are being  held  including via videoconferencing  to discuss “specific  problems and issues” and there  will be another meet soon.  The objective of this  process is not take a stock of what  has been discussed but it is to  “update each other” on their  positions  interests related to  specific issues  he added.  Talks for an India-EU FTA  began in 2007. However  the  negotiations were put on hold in  2013. The matter came up for  discussion during the 14th India-  EU Summit held in Delhi.  In the joint statement  issued then  the two sides had  expressed their shared  commitment to strengthen the  economic partnership between  India and the EU. They noted the  ongoing efforts from both the  sides to re-engage actively to  relaunch negotiations for a  comprehensive and mutually  beneficial India-EU Broad Based  Trade and Investment  Agreement (BTIA).  The EU is one of India’s  largest trading partners and in  2016 the bilateral trade volume  clocked 100 billion euros.  On interaction between  Indian security agencies and the  Europol  Kozlowski said it was  agreed during the last summit  that the two sides will facilitate  contacts between appropriate  institutions from the European  side dealing with terrorism and  cyber crime.  “As a result  a number of  visits from Europol were  conducted and dialogue and  contacts with appropriate Indian  agencies were established  ” he  said.

Source : Tecoya Trend

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E-comm cos may help Tirupur textile producers to reach customers at doorstep

Tirupur: The dollar city may be the knitwear capital of the country and may manufacture textile products to various leading global brands. But only a few companies here have succeeded in reaching to customers directly, that is in business to consumer-b2c market. This might soon change as Amazon.com Inc, the world's largest e-commerce company, would provide its platform for Tirupur knitwear manufacturers to promote their brands and reach customers. "Only big players who could afford the cost of networking were able to promote their own brands. But with the help of e-commerce companies, even small manufacturers could promote their goods. The partnership with Amazon, and also Flipkart, another e-commerce player who earlier had approached us, would provide equal ground to all manufacturers to grow in b2c market," Tirupur exporters' association president Raja M Shanmugham told TOI. "Amazon has witnessed huge interest across the world for apparel and other textile goods from Tirupur. We see huge potential for small and medium enterprises to scale up their export through b2c e-commerce channel across categories like T-shirts, dresses other consumer textile products," said Abhijit Kamra, head - global selling, Amazon India. Keeping this in mind, Amazon and FICCI-CMSME (confederation of micro, small and medium enterprises) have conducted a workshop for the apparel exporters in the city on Wednesday. "Amazon teams would help exporters and manufactures to familiarise with the demand patterns in various countries and to launch products in accordance with local tastes," said Abhijit Kamra. Emphasising the importance of tapping the opportunity, Prabhu Dhamodharan, secretary of Indian Texpreneurs Federation, said "With e-commerce projected to attain overwhelming growth, the apparel manufacturers should transform themselves to b2c market with the help of players like Amazon, who could solve the biggest challenge of providing logistics services."

Source: The Times of India

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Cut service tax on diesel: TN truckers

CHENNAI : Truckers in the city have threatened to stop plying their vehicles for a day if the Tamil Nadu government does not reduce service tax on diesel and put off the implementation of e-way bill by six months. Nearly 50,000 trucks from other States and over 2 lakh trucks within the State ply daily. The sudden increase in service tax in Tamil Nadu and tax reduction in Karnataka is hurting truckers of the State, said PV Subramani, Vice-President (south zone), All India Motor Transport Congress, and former president of Chennai Goods Transport Association. There is a price difference of nearly ₹3 per litre between Tamil Nadu and Karnataka. Subramani said transporters spend nearly 45 per cent of the freight cost on diesel. The current service tax on diesel is 27 per cent in Tamil Nadu, compared to 19 per cent in Karnataka. Nearly 30 lakh litres of diesel are sold every day in Tamil Nadu. “We request a modest 10 per cent reduction in the service tax,” he said. Also, with truckers filling up fuel in the neighbouring State, Tamil Nadu is losing nearly ₹30 crore daily, he told newspersons. The association members plan to meet officials of the State government with their demands. “We will wait for 20 days. If our demands are not met, we will consult AIMTC and call for a one-day stoppage of vehicles,” said Subramani.

E-way bill problems

On the recently implemented e-way bill, Subramani said it is was causing hardship to truckers, especially for small transporters, who have little knowledge regarding online systems. Given the cost involved in installing RFID devices in the vehicles, not many transporters may opt for it, he said. “We appeal to tax authorities in the State to give us more time to adjust to the new system and not start imposing penalties from day one,” he said.

Source: Business line

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Rupee falls for 5th day to hit 2-mth low on RBI hawkish tone

Mumbai: The rupee failed to hold onto its early gains and fell back to end at a fresh two-month low of 64.28 after the Reserve Bank sounded a more hawkish tone amid upside risks on inflation in Asia's third-largest economy. The domestic currency finally settled the day with a modest 4 paise loss against the US dollar, extending its downtrend for the fifth straight session. It initially touched a high of 64.02 before making downward movement. The central bank in its 6th bi-monthly Monetary Policy review today kept the interest rate unchanged as widely expected but lowered economic growth projection to 6.6 per cent for 2017-18 from 6.7 per cent on higher inflation expectations. Forex market experienced a renewed sense of confidence in early part as financial markets across the globe attempted to shake off the volatility and jitters witnessed in recent trading sessions following Wall Street's rebound overnight. However, the initial euphoria soon gave way to doubts and a sell-off on local bourses which was initially triggered by a recovery in Asian equities. Earlier, the Indian currency opened higher at 64.12 as compared to Tuesday's close of 64.24 at the Interbank Foreign Exchange (forex) market on fresh bouts of dollar selling by exporters and banks. It later strengthened to hit a high of 64.02 in mid- morning deals as bullish momentum in equity markets kept leading the way for the local unit. However, reacting to post-RBI policy review, the rupee retreated sharply to touch a low of 64.31 towards to tail-end trade before ending at 64.28, showing a loss 4 paise, or 0.06 per cent. On the international energy front, global crude traded little changed after a brief overnight recovery, as a sharp drop in US crude inventories last week was offset by soaring soaring US output. The oil price has fallen by 3.2 per cent in the last week. Brent crude futures were trading lower at USD 66.70 a barrel in early Asian trading. The RBI meanwhile fixed the reference rate for the dollar at 64.1377 and for the euro at 79.4345. Globally, the US dollar traded little changed against other major currencies ahead of Fed speakers later in the day. dollar index, which measures the greenback's value against a basket of six major currencies, was up at 89.69 in early trade. In cross-currency trades, the rupee continued its rising trend against the pound sterling to finish at 89.23 per pound from 89.60 and hardened against the euro to end at 79.35 as compared to 79.68 earlier. The home unit also recovered against the Japanese yen to close at 58.88 per yens from 58.95. Elsewhere, the common currency euro failed to hold on to its overnight recovery move from near 2-week lows and fell back to trade lower against the US dollar despite news of a coalition government deal between German Chancellor Angela Merkel's conservatives and the Social Democrats (SPD). The British pound remained under intense pressure on the back of disappointing macro data outcome. In forward market today, premium for dollar declined due to mild receiving from exporters. The benchmark six-month forward premium payable in July moved down to 139-141 paise from 142-143 paise and the far- forward January 2019 contract also edged lower to 278-280 paise from 281-283 paise previously.

Source: Financial Express

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Agri officers told to gear up for cotton crop season

The Director, Agriculture Department, Punjab, Dr Jasbir Singh Bains convened a meeting with agriculture officers of seven districts — Bathinda, Mansa, Barnala, Moga, Muktsar, Sangrur and Fazilka — here today. During the meeting, the director discussed issues related to the cotton crop such as early sowing, proper and adequate distribution of canal water, sale and use of recommended variety of cotton crop among others. He said in the cotton crop season, pest surveillance teams would be constituted at district and block levels and the department would make efforts to provide adequate staff for these teams to ensure good yield of cotton crop. Congratulating the officers for the good crop yield last season, Bains directed them to work with dedication this season as well. He added that the department was fully prepared to provide the farmers with good quality seeds and other inputs for cotton crops and the farmers would not have to face any trouble availing of the same. Terming canal water supply “most important” for the cotton crop, he directed the district agriculture officers to ensure it and also asked them to keep a check on unauthorised sale of substandard cotton seeds brought from Gujarat. He added that teams might be constituted in all districts to keep a check on the trains coming from and going to Gujarat to curtail the use of cotton seeds from that state. The teams constituted specifically for the cotton season will start functioning from March and will be active till the sowing of the cotton crop to ensure use of recommended variety of seeds and timely detection of pest attack and control of the same.

Source: The Tribune

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‘Refuge planting needed to slow pest resistance to Bt cotton’

NEW DELHI : Indian farmers’ refusal to grow proper refuge crops around Bt cotton fields and to limit the area under the transgenic crop are helping pests fast develop resistance to the transgenic technology, according to a study carried out in Telangana and Andhra Pradesh. The proportion of American bollworm insects resistant to Bt toxin Cry1Ac has gone up 65 times and 29 times on Bt cotton fields in Telangana and Andhra Pradesh respectively, in 12 years since the introduction of transgenic crop in 2002, showed the study carried out jointly by entomologists from Prof. Jayashankar Telangana State Agricultural University (PJTSAU) in Hyderabad and their counterparts in the US. The main authors of the study, which appeared in the journal Crop Protection recently, were TVK Singh of PJTSAU and his research student Vinod Kukanur. A co-author of the study was Keshav R Kranthi, former Director of the Central Institute of Cotton Research (CICR), who currently heads the technology information division of the Washington-based International Cotton Advisory Committee.

Need for refuge crops

In kharif 2017-18, cotton was grown over a total of 12.25 million hectares. Of this, 89 per cent of the area was covered with Bt cotton, which was an increase of 7 per cent over the previous season. Interestingly, Australia managed to keep the frequency of American bollworm resistant to Cry1Ac low because it has allowed only 30 per cent of its total cotton area to be under Bt and enforced strict compliance to grow refuge crops. Growing refuge crops around Bt cotton reduces the chance of the pests developing resistance, which is a survival strategy for them. When crops that the insects can feed on are around, there is only a limited evolutionary pressure for the pests mount an attack on the Bt toxin.

Pink bollworm attack

Indian farmers grow two varieties of Bt cotton — Bollgard-I and Bollgard-II. As the names suggest, Bollgard-I has one Bt toxin (Cry1Ac) and Bollgard-II has two toxins — both Cry1Ac and Cry2Ab. Bt cotton is meant to control the three species of bollworms in India, American bollworm, pink bollworm and spotted bollworm. While American bollworm has developed some resistance to Cry1Ac, there are no field reports yet about the pest becoming resistant toCry2Ab. However, pink bollworm, which is lesser virulent than American bollworm but still causes widespread damage to the cotton crop, has become resistant to Bollgard-II. It was the pink bollworm that destroyed vast tracts of cotton fields in Telangana and Maharashtra recently. “Going for an overkill by saturating Indian cotton area with Bt cotton is precipitating the crisis,” said Kranthi.

American bollworm

“The issue of American bollworm resistance to Bt cotton is very serious. Unfortunately, such issues gain prominence in India only after they would have taken a toll. The American bollworm is a monster that is difficult to manage, unlike the pink bollworm,” Kranthi told BusinessLine. “Losses would be huge when the American bollworms also develop resistance. This pest can be devastating. Resistance management strategies are not taken seriously in India as proactive initiatives. Therefore resistance can be expected to strike sooner, said the former CICR Director. The fact that American bollworm has become increasingly resistant to Bt cotton has been known for some time. The present study examines the issue in greater depth, said Imran Siddiqi, a geneticist at the Hyderabad-based Centre for Cellular and Molecular Biology.

Source: Business line

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Government considering tax benefits for scrapping 15-year old vehicles

The policy, likely to be called the Voluntary Vehicle Fleet Modernisation Programme, is expected to push 28 million vehicles off the roads. Logistics providers say the new tax regime not only saves tax and time, it also reduces logistics costs. The government is finalising a policy to scrap commercial vehicles that are more than 15 years old, and is proposing tax incentives from both the Centre and the states. This proposal, however, requires the approval of the Goods and Services Tax (GST) Council. The policy, likely to be called the Voluntary Vehicle Fleet Modernisation Programme, is expected to push 28 million vehicles off the roads. For this, a three-layer incentive system is being worked out. Old vehicles will have a scrap value that will accrue to the owner. The Union and state governments will also give incentives, including a tax benefit. “When you go to buy a new vehicle with the certificate (for your old vehicle being scrapped), the car seller will give a rebate,” said Roads Minister Nitin Gadkari. He added, “To give this rebate as a component of the GST, the finance minister (Arun Jaitley) will have to approach the GST Council.” Gadkari said the scrapping policy, to be finalised soon, would help in recycling and bringing down the cost of components. “If 15-year-old commercial vehicles are scrapped, industry will grow at 22 per cent and pollution will be reduced,” he said. About 65 per cent pollution is caused by heavy vehicles that are 15 years old or older. In September last year, the National Green Tribunal (NGT) ordered all diesel vehicles more than a decade old off the roads of Delhi and the National Capital Region (Delhi-NCR). The Union Ministry of Heavy Industries and Public Enterprises had appealed against the order but the tribunal rejected it. Referring to a report published by the Central Pollution Control Board, the NGT had said the use of diesel in vehicles was highly toxic. The Supreme Court had also rejected similar appeals challenging the ban. All commercial vehicles are likely to be covered by the Centre’s policy, but the Delhi government is also planning on a policy of its own to scrap old cars that are routinely abandoned on the streets. Old vehicles plying on the roads do not comply with the new BS IV (Euro IV) emission norms, implemented from April 1, 2017, across the country. Both fuel and automobiles have to be compliant in order to cut emissions. From April 2020, the industry is required to leapfrog to BS VI (Euro VI) norms.

Source: Business Standard

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Governor Tripathi for steps to restore glory of silk industry in Bengal

Governor Keshari Nath Tripathi on Wednesday called upon Central Sericulture Research and Training Institute (CSRTI) at Behrampore to take suitable initiatives for reviving the past glory of silk trade in India. The governor said, it was his first visit to Murshidabad. He attended a programme held on the occasion of the platinum jubilee of CSRTI at Behrampore this afternoon. Addressing a small assembly of sericulture scientists, research scholars and learners of the institute, the governor recounted the history of silk and sericulture industry that flourished in and around Murshidabad and took India to the competitive market globally in ancient, medieval and the British era. The governor said that the Central Sericulture Research and Training Institute at Behrampore is a premiere research institute of India. He made an appeal to authorities of CSRTI to come up with innovative technology that would enable India to revive the past glory of silk trade. With reference of history, Mr Tripathi said that by 216 BC, the fabulous silk was carried to Europe from China through Tashkent, Damascus, Baghdad and Istanbul and the Venetian traveller, Marco Polo, travelled through the silk route and reached India in 13th century AD. By the second century, India was competing with China in the oriental silk market in the business of silk clothes and other fabrics, he elaborated, adding that the silk used to be produced in Subarnaganj or Karnasubarna of history (which is now located in Murshidabad district). The foreigners who came to India during the Mughal era were attracted to the Bengal silk, said the governor. With the British East India Company opening a silk kothi at Cossimbazar, sericulture started flourishing in Bengal as the British started purchasing silk fabrics, he recounted, adding that the Dutch, the French and the Portuguese also opened kothis subsequently in Murshidabad. Unfortunately, the silk trade declined after the World War-I because of low demand in Europe, said Mr Tripathi. With unparallel grandeur, natural sheen and high durability, silk is known as the queen of textile as it is the most elegant textile in the world, he said. According to the governor, around 1 lakh 20000 farmers are involved in sericulture covering 24,000 hectares of land in 29,000 villages of 17 districts in West Bengal where mulberry sericulture is practiced. Murshidabad, Malda, Birbhum, Nadia and Midnapore are the highest silk-producing districts in Bengal where the stakeholders are mainly marginal and semimarginal farmers, he added.

Source: The Statesman

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‘The most radical garment is the one you already own’

Indian design sensibility right from Gandhi to his idea of khadi needs to be replicated Kate Fletcher. I think Indians, and not just artisans and designers, have an innate sense about material and its usability, which is very sustainable at its core. It’s light-years ahead of Europe,” says Kate Fletcher, Research Professor, Centre For Sustainable Fashion, London College of Art. She was one of the keynote speakers at the recently held international conference, ‘Rediscovering Culture: Transforming Fashion’, organised by the National Institute of Fashion Technology New Delhi. The conference initiated dialogues on fashion, culture, textiles, crafts and sustainability. Sustainability is where Fletcher comes in. She has authored books on the subject — Sustainable Fashion and Textiles: Design Journeys, and Fashion and Sustainability: Design for Change with Lynda Grose. She has also worked as an ecological design consultant with some leading British brands. Excerpts: I ended up being an academic, given the high amount of flexibility the field offers in terms of interdisciplinary approach. I worked for a along time in the corporate world, but I missed the potential that the academic space offered, at least in the UK. Here I got paid to ask difficult questions on difficult subjects, and imagine and create ideas for change.

 On bridging academia and fashion

Sustainable fashion is all about questioning oneself. What kind of happiness do we get from that additional purchase or changing an entire wardrobe when a new trend kicks in. We are constantly craving a new identity essentially. We see a lucrative relationship between buying things and happiness. These are important questions that need to be dealt with. The speed at which we are consuming things is outpacing the ability and technology that we have. We need to have that difficult conversation with the fashion industry about their profits, without undermining the environmental impact of the industry.

The psychology of sustainable fashion

Reusing old saris and textiles and fashioning them into dresses or other things is also a way of having cultural memories alive, which I feel is very important. In the UK, my mum’s generation also did that. Fashioning new dresses was difficult, because here things are more constructed than a sari. But my mum’s generation would sow in the frayed edges of a bed sheets, so they won’t show. Such practices stemmed out of an economically thrifty environment and plain old necessity. As in for woven fabrics, especially in India which have been made with such dexterity and care — there is something about wearing them, especially if they have been handed down to you. Juxtapose it with this new trend of materialism and appreciation of material goods. Indian design sensibility right from Gandhi to his idea of khadi needs to be replicated.

On the concept of Indian sustainability and upcycling

There’s a story I like to share. A friend of mine made some garments and put them on a rail, and started a pop-up shop. You couldn’t buy them for money, but swap them for any clothing item you had on you that day. So people came and were like ‘I’ll pop it’, and before you know it, my friend got them (the people) to come and think — that whatever you are willing to trade — why did you buy it in the first place, and what did you like about it. This thought prevented 90 percent of the eager ‘poppers’ from trading their clothes. So the lesson to take for this was that the most radical garment is the one you already own.

Source: The Indian Express

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India to host textile seminar in Tirupur from Feb 8

Tirupur, the knitwear manufacturing hub of India, is all set to host a three-day textile research conclave on technology, products and processes from February 8, 2018. The textile event will be jointly organised by Tirupur Exporters Association (TEA), NIFT-TEA Knitwear Fashion Institute and Indian Texpreneurs Federation (ITF). The Union Ministry of Textiles has also extended its support to the event which will host scientists and industrialists on a single platform. According to TEA President Raja Shanmugam, the seminar is aimed to encourage product diversification, productivity, and sustainability in the textile clusters of the country. A press statement stated that fibre, dyeing and finishing chemical manufacturers, textile research associations and centre(s) of excellence for technical textile are expected to attend the programme. Further, the event will also serve as an opportunity to textile companies to get global visibility and publicity by promoting their products and services to a highly focused audience. The conclave holds relevance as the recently tabled Economic Survey 2018, conducted by Ministry of Finance, has predicted a 7-7.5 per cent growth in FY 2018-19 from 6.75 per cent last fiscal. The participants will discuss the challenges that textile start-ups face  excellence in textile  technical textiles  and the opportunities in the sector, at the event.

Source: Apparel Resources

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Global Textile Raw Material Price 2018-02-07

Item

Price

Unit

Fluctuation

Date

PSF

1447.628

USD/Ton

-0.55%

2/7/2018

VSF

2322.568

USD/Ton

0%

2/7/2018

ASF

2577.096

USD/Ton

0%

2/7/2018

Polyester POY

1377.6328

USD/Ton

-0.40%

2/7/2018

Nylon FDY

3547.484

USD/Ton

0%

2/7/2018

40D Spandex

5806.42

USD/Ton

0%

2/7/2018

Polyester DTY

1626.593

USD/Ton

-0.24%

2/7/2018

Nylon POY

3316.818

USD/Ton

0%

2/7/2018

Acrylic Top 3D

2815.716

USD/Ton

0%

2/7/2018

Polyester FDY

1638.524

USD/Ton

-0.48%

2/7/2018

Nylon DTY

3770.196

USD/Ton

0%

2/7/2018

Viscose Long Filament

6013.224

USD/Ton

0%

2/7/2018

30S Spun Rayon Yarn

3038.428

USD/Ton

0%

2/7/2018

32S Polyester Yarn

2215.9844

USD/Ton

0%

2/7/2018

45S T/C Yarn

3038.428

USD/Ton

0%

2/7/2018

40S Rayon Yarn

3165.692

USD/Ton

0%

2/7/2018

T/R Yarn 65/35 32S

2672.544

USD/Ton

0%

2/7/2018

45S Polyester Yarn

2370.292

USD/Ton

0%

2/7/2018

T/C Yarn 65/35 32S

2561.188

USD/Ton

0%

2/7/2018

10S Denim Fabric

1.4826256

USD/Meter

0%

2/7/2018

32S Twill Fabric

0.9083468

USD/Meter

0%

2/7/2018

40S Combed Poplin

1.2694584

USD/Meter

0%

2/7/2018

30S Rayon Fabric

0.707906

USD/Meter

0%

2/7/2018

45S T/C Fabric

0.7508576

USD/Meter

0%

2/7/2018

Source: Global Textiles

 

Note: The above prices are Chinese Price (1 CNY = 0.15908USD dtd. 7/2/2018). The prices given above are as quoted from Global Textiles.com.  SRTEPC is not responsible for the correctness of the same.

 

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EU in process of ‘reviewing’ GSP Plus status to Pak  

The European Union is in the process of “reviewing” the Generalised Scheme of Preferences (GSP) Plus status extended to Pakistan  EU envoy to India Tomasz Kozlowski said today.  The GSP allows vulnerable developing countries to pay fewer  or no duties on exports to the EU  giving them vital access to the  EU market and contributing to  their growth.  “The GSP Plus scheme is  granted on the basis of seven  criteria  which are shared  and  which are established by the  WTO (World Trade  Organisation). We have granted this scheme to Pakistan and now  as I understand  we are in the  process of reviewing it  ” he said  reports PTI.  A source said human rights is one of the critera in extending the scheme. “That is why I am not able to tell you whether we are going to withdraw or maintain it because it is always a result of an assessment process” Kozlowski said.  He added that the GSP Plus is a trade facilitation scheme in accordance to a WTO criterion and the EU granted it to Pakistan  many years ago. It was later withdrawn but after a few years it was granted again he said.

Source: Tecoya Trend

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VN Textile Research Institute to launch IPO next month

Việt Nam Textile Research Institute (VTRI) will sell over 2.26 million shares, accounting for 45.25 per cent of its charter capital, in its initial public offering (IPO) on March 12. VTRI will offer 2.26 million shares, corresponding to 45.26 per cent of chartered capital for strategic investors on its IPO next month. The shares will be listed on the Hà Nội Stock Exchange (HNX), with the initial price of VNĐ12, 583 (55 US cents) for each share. VTRI expects to receive more than VNĐ28 billion from the IPO. Domestic and foreign organisations and individuals, who meet the conditions prescribed in Article 6 of the Government’s Decree No. 59/2011/NĐ-CP dated July 18, 2011, on transformation of enterprises with 100 per cent State capital into joint stock companies, can participate in the auction. The registration and fee deposit timing is from 8.30am February 3 to 3.30pm March 5. The deadline for submission of auction tickets is 4pm on March 8. As for its business result, VTRI posted a revenue of VNĐ57 billion last year, down 25 per cent compared to the average revenue of the previous three years. Its profit was VNĐ761 million, down nearly double that of 2016. Total assets of the institute at the end of 2017 was worth VNĐ41 billion. In terms of land, VTRI is managing and using plots of land at 478 Minh Khai Street, Hà Nội with an area of nearly 2,851sq.m  at 454/24 Minh Khai Street with an area of 5,311sq.m  and at 354/128A Trần Hưng Đạo Street, District 1, HCM City with an area of nearly 2,220sq.m. According to the results of the enterprise’s appraisal, the actual value of VTRI for equitisation is VNĐ72.8 billion, of which State’s capital is VNĐ51 billion. Under the equitisation plan, VTRI will offer 2.26 million shares, corresponding to 45.26 per cent of charter capital for strategic investors. The remaining 474,000 shares will be offered to employees.

Source: VietNamNet.

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Ghana : Cure the menace of textile piracy - ICU

The General Secretary of the Industrial and Commercial Workers Union (ICU) has called on government to urgently stop the piracy of local textiles and influx of cheap foreign prints on the market to sustain the industry. According to Mr. Solomon Stephen Ashalley Kotei, “This is in a very bad taste  it has set our teeth on edge, and is imperceptible but slowly smothering and strangulating the local textile industry to a choke and eventually to its demise.” He, therefore, advised government “not to stay aloof and watch it happen, but must attack it with absolute commitment and seriousness to stop and eradicate it without any traces whatsoever.” Mr. Kotei said this on Wednesday at Tex Styles Ghana Limited (TSG) formerly Ghana Textile Printing (GTP), Tema, during the inauguration and swearing in ceremony of the TSG local union of the ICU. He observed the failure of successive governments to cure the menace of negative foreign influence on the Ghanaian textile industry. “It is sad that governments in Ghana have not been able to put in place an effective and sustainable measures to control the menace of foreigners pirating local textile designs and plagiarizing and printing them for the Ghanaian markets,” Mr. Kotei said. He further observed that the wrongful practices by foreigners with regard to the textile industry in Ghana had been allowed to thrive for a long time and continued to be “condoned by the relevant Ghanaian authorities through their inaction to address this menace.” He informed of the dissipation of investments made by local textile industries because the Ghanaian markets were over-flooded with cheap, inferior and pirated Chinese textile prints. Mr. Kotei said, “Given the fact that our several appeals to government to step in to save the local textile industry have still not been heeded to, a coalition of the textile companies in Ghana…will mobilize both their management and workers to march on the relevant authorities, this time round not to plead for intervention but to demand protection from the predator foreign textile prints that have inundated our local markets.” The Managing Director of TSG, Mr. Erik Vander Staaij, lamented the bizarre situation his company faced at the hands of foreign exploitation of the market, saying majority of the textile products on the Ghanaian market were now smuggled and counterfeited and if it persisted, things would get really bad with the industry. He said, “We are talking to government and there are promises, but it is taking too long, we cannot wait any longer. These are criminal activities and it cannot continue.”

Source: GhanaWeb

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Pakistan : PCCC working on cottonseeds policy

MULTAN: Pakistan Central Cotton Committee (PCCC) Secretary Dr Muhammad Ali Talpur said on Wednesday that the committee in collaboration with different provincial research departments was working on long-term policy to ensure availability of quality and healthy cottonseeds. The cotton crop faced challenges regarding seeds, and PCCC would resolve all challenges and ensure availability of top quality seeds, he said in a statement. “Pakistan Cotton Committee was taking different measures to promote cotton, its products, manufacturing and marketing. Similarly, cotton scientists are also being imparted training at international level to improve research techniques,” the secretary added. The PCCC has contributed more than 50 new varieties of cottonseeds and also got these approved. He termed it a big success of the PCCC. The secretary observed that PCCC was achieving its targets, given by cotton commissioner Dr Khalid Abdullah. About re-structuring of PCCC, Dr Talpur said the ministry of commerce and textile had constituted a special committee. “MNAs, textile industry federal secretary, vice presidents of PCCC are members of the committee. The committee has completed enough work in this regard,” he added.

Source: The News International

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Iran : Cotton Boll Output to Reach 160,000 Tons

Iran needs to import at least 50,000 tons of cotton annually to meet the needs of its textile industry. Around 124,550 tons of cotton bolls have been produced across the country and bought by cotton factories since the beginning of the current Iranian year on March 21, 2017. The figure is estimated to reach 160,000 tons by the end of the fiscal year, the managing director of Iran Cotton Fund said. “Cotton factories have so far produced 30,000 tons of refined cotton. We expect to produce between 45,000 and 50,000 tons of the product by the end of the year,” Mohammad Hossein Kaviani was also quoted as saying by Young Journalists Club. The official noted that last year’s domestic cotton production stood at approximately 40,000 tons. He added that close to 56,000 tons of cotton were imported during the 10 months to Jan. 20. “Our textile industries’ annual demand stands at between 90,000 and 100,000 tons and domestic production is not sufficient to meet the need. We have to import at least 50,000 tons annually,” he said. Land under cotton cultivation in Iran has declined by over 75% between the fiscal years 2001-16 to reach 70,000 hectares from 300,000 hectares, turning Iran from a cotton exporter to an importer.The figure remained unchanged in the last Iranian year (ended March 20, 2017), but it has increased by 6% this year, according to the executive of the Cotton Project implemented by the Ministry of Agriculture. “The Ministry of Agriculture plans to achieve self-sufficiency in cotton production by 2025 [the end of the 20-year Vision Plan],” Ebrahim Hezarjaribi was also quoted as saying by Mehr News Agency. Iran has the capacity to increase cotton production, but the low price of cotton compared with other agricultural products discourages farmers from embarking upon cotton cultivation.

Source: Financial Tribune

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China : Tons of Textile Waste Unearthed in Jiangsu Village

Vast quantities of buried textile waste have been unearthed in eastern China’s Jiangsu province, in a case that exposes official struggles to control illegal dumping. On Monday and Tuesday, excavators descended on two areas of the city of Nantong after a local environment-watcher, Xu Yong, reported seeing exposed waste and smelling a foul odor emanating from the soil. Photographs published by online media outlet CQCB.com and subsequently shared on Chinese social media showed excavators parked next to freshly dug trenches in which household textiles, construction waste, and assorted unidentifiable objects protruded from the piled-up soil. Each trench was several meters deep. In a neighborhood in Chuanjiang Township, diggers uncovered waste on land belonging to a local Party branch secretary. In the vicinity of the New Jianghai River, crops had been planted in soil used to cover industrial waste. In other areas, CQCB.com reported, waste had been dumped directly into aquaculture ponds, killing large numbers of fish. Xu estimated that up to 100 tons of waste have been excavated so far. The person who answered the phone for the Chuanjiang local government told Sixth Tone that officials were in a meeting and unable to take questions. The local environmental protection bureau, meanwhile, referred Sixth Tone to an official response released yesterday evening stating that cleanup operations were in progress. China now manufactures an estimated 65 percent of the world’s clothing. The country also dumps 26 million tons of textile waste each year, reusing less than 1 percent of it, according to a 2016 report from state news agency Xinhua. Nantong has been producing textiles since the turn of the 20th century, but breakneck economic development beginning in the 1990s — largely thanks to the city’s advantageous position at the mouth of the Yangtze River, just north of Shanghai — transformed it into an industrial hub. However, Nantong has struggled to deal with the increasing amount of waste generated by its textile industry. Often, waste treatment is outsourced to small businesses or individual households, making it difficult for officials to enforce guidelines for safe disposal. Over the past decade or so, this has led to the emergence of so-called garbage villages like Chuanjiang on the city’s outskirts, where villagers live side by side with waste treatment workers. Here, textile waste piles up in residential areas, leading to environmental contamination, health problems, and fire hazards, according to a local broadcaster. Li Enze, executive director of the environmental law center at Beijing Impact Law Firm, told Sixth Tone that illegal textile dumping is probably widespread in China. “There are no exact regulations concerning how to deal with waste textiles, which are not classified as hazardous,” Li said. “While one option is to send the waste to factories for treatment, this can be very costly.” Punishments for dumping nonhazardous waste are less stringent than those for more harmful forms, Li continued. “But though textile waste is not as bad as, say, chemical waste, its impact on the environment is still heavy,” he said, “as a lot of textiles contain complex components like zippers, leather, and plastics.” National laws governing solid waste should outline a clear system of duties and penalties so that damage to the environment can be reduced, Li concluded. In recent years, China has struggled to manage its mounting waste, both from home and abroad. In July of last year, 60 government inspection teams swept across the country to root out illegal waste-importing operations. And on Jan. 1, the Chinese government officially banned companies from treating 24 types of waste produced in foreign countries in an effort to mitigate domestic environmental problems. Textiles are among those included on that list.

Source: Sixth Tone

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Artificial intelligence should be gradually adopted in garments

The adoption of artificial intelligence in improving productivity in the RMG sector should be gradual and selective, said former central bank governor Atiur Rahman. “Collaboration of human and robot (cobots) could be a pathway towards integrating technological innovation in apparel industry in Bangladesh,” he said. He was presenting a keynote at an international conference on “The apparel industry: productivity improvement, disruptive innovation and leadership” at a hotel in Colombo, Sri Lanka. Bangladesh High Commissioner to Sri Lanka Riaz Hamidulla was also present at the conference. Rahman shared his experience as a central bank governor in transforming a disaster like the Rana Plaza tragedy into opportunities along with contributions from the industry leaders and public policymakers. Seven of the world's top 10 best green factories are situated in Bangladesh, he added. The garment sector cannot improve alone unless there is gradual adaptation of modern technologies, he said. Artificial intelligence is a pathway to integrate the great number of unskilled production workers into a structurally difficult labour market that depends on foreign investment, Rahman opined.

Source: The Daily Star

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Techtextil & Texprocess 2019 open registrations

Techtextil 2019, the global trade fair for technical textiles and nonwovens, and Texprocess 2019, the international trade fair for the international garment-manufacturing and textile processing industry, have announced that companies can now register to exhibit at both events, which will be held from May 14 to 17, 2019, in Frankfurt am Main, Germany. Techtextil and Texprocess will present the complete spectrum of technical textiles, nonwovens, and textile processing technology. Under the motto ‘Space for Innovation’, Techtextil will present the complete spectrum of technical textiles, functional apparel textiles and textile technologies and their applications from 14 to 17 May 2019. ‘Space for Progress’ is the motto of the concurrent Texprocess, which will show the latest machines, plant, processes, and services for making up textile and flexible materials. Functional and smart textiles for garments, the automobile industry, sport, medicine, and hazard protection are one of the focal points of the upcoming Techtextil expo. Additionally, a comprehensive complementary programme of lectures, discussions, awards, and other events will offer supplementary insights into the latest developments in the sector. Digitalisation as a driving force of innovation in the textile industry will be one of the main themes at Texprocess. Following the success of the last event, a digital textile micro-factory will once again show a fully networked textile production chain in live operation. In addition to a production chain for garments, trade visitors will also be able to see the complete process for textiles for other areas of application, such as the automobile industry. A magnet for visitors of both fairs will be the ‘Urban Living – City of the Future’ special show. Cities are the living space of the future. Half of the world’s population already lives in cities. Thought leaders, trend experts, and textile specialists have given consideration to which interfaces between technology and textiles will grow together in the interests of urban quality of life and where technical textiles will have a particular influence on architecture, clothing, mobility, and civilisation in the future.

Source: Technical Textiles

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