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MARKET WATCH 9 FEB, 2018

NATIONAL

INTERNATIONAL

Support for export promotion schemes to cross ₹ 1 lakh crore in 2017-18: Prabhu

Financial support for exporters through various export promotion schemes is likely to cross ₹ 1,00,000 crore in 2017-18, Commerce & Industry Minister Suresh Prabhu has said. The Commerce Ministry has also sought an increase in the rate of support under the interest subvention scheme for exporters to 5 per cent from the existing 3 per cent, according to the Director General of Foreign Trade (DGFT). Subvention rate is the interest subsidy that exporters are given by banks on loans. They are in turn reimbursed by the government. Support to exporters under various schemes such as the popular Merchandise/Services Export from India Schemes, the Advance Authorisation scheme and the Export Promotion Capital Goods scheme would cross ₹ 1,00,000 crore and touch ₹ 1,20,000 crore or even more depending on the performance of exports in the last two months of the fiscal, Prabhu said addressing a press conference on Thursday. “You heard our Finance Minister say (in his Budget speech) that exports this year could have a growth of 15 per cent over the previous year. A good export performance means more outgo on export promotion schemes,” he said. The DGFT said that in 2016-17, the outgo on export promotion schemes was around ₹ 76,980 crore. Elaborating on his earlier comment of foreign trade increasing to $1 trillion in the next seven-eight years, the Minister said that about half of it would come from merchandise exports and the other half from services exports. The multi-pronged strategy for export growth would have a strong focus on increase in services exports, which was rising at a rate faster than merchandise exports, Prabhu said.

Source: Business Line

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Commerce ministry mulls higher 5% rate for interest equalisation scheme

Less than a week after the Budget spoke of leveraging India’s small- and medium-scale industry, the commerce ministry has suggested improvement in an export promotion scheme. Commerce and Industry Minister Suresh Prabhu on Thursday said the cost of export incentives might lie somewhere between Rs 700 billion and Rs 1 trillion in 2018-19. The commerce ministry has proposed to its finance counterpart that the prescribed rates under the interest equalisation scheme be revised upwards from 3 per cent to 5 per cent. The scheme allows small and medium exporters in labour-intensive sectors to avail loans from banks at a lower rate of 3 per cent. Originally announced as a measure to boost exports for five years, the interest equalisation scheme on pre- and post-shipment rupee export credit was revived in 2015 at a rate of 3 per cent for 416 tariff lines. The sectors covered are mostly labour intensive and include agriculture or food items, auto components, handicraft, electrical engineering items, and telecom equipment. The scheme is, however, not available for merchant exporters. The last Budget had allocated Rs 25 billion for the interest equalisation scheme. “This is a welcome move and should be done, provided the condition that interest rate after subvention will not fall below 7 per cent, is also removed. Until the condition is in place, benefits of 5 per cent will not materialise for exporters on ground,” Ajay Sahai, director-general of the Federation of Indian Exports Organizations, said, adding merchant exporters and those on the services side should also be included in the interest equalisation scheme. Agriculture, which is a mainstay of the Indian economy, and also a major source of livelihood of people, have been given an important thrust, Prabhu said. On the agriculture export policy, he said existing incentives for exporters would continue to be valid, but the government would be exploring newer ways to boost the sector. On the Budget raising the minimum support price (MSP) for crops to 1.5 times of the cost of production, the minister said higher rates of MSP would not lower the prospects for agri exports. “The presumption that international prices are lower than MSP is not necessarily true.”

Source: Business Standard

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Maha sets up SIT to probe illegal  production of BT cotton seeds  

MUMBAI  FEB. 08—  The Maharashtra  government has set up a special  investigation team (SIT) to  investigate the illegal production  and sale of BT cotton seeds  which contain unapproved  genes  in the state.  State intelligence  commissioner Sanjay Barve will  head the SIT  while Amravati  divisional agriculture joint  director Subhash Nagare will  assist him  a Government  Resolution (GR) issued yesterday  said.  Both of them can appoint  more members in the SIT as per  requirement  it said.  “The Genetic Engineering  Appraisal Committee of the  Union government has so far not  given permission for the  production of BT cotton seeds  with herbicide tolerant  transgenic gene  ” the GR said.  On November 17  2017  the state government had written  a letter to the Centre seeking a  CBI probe into the issue. The  state had then said that the  production of BT cotton seeds  with unapproved genes is taking  place in several states.  “The Centre  on October  13 last year  had set up a Field  Inspection and Scientific  Evaluation Committee headed by  Dr K Veluthambi and the  inspection is going on  ” the GR  said.  Transgenic herbicide/  glyphosate tolerant trait genes  are used by several BT cotton  seed production companies  hence an SIT is being formed to  probe into this matter  it added.  “The SIT is expected to probe the involvement of seed  producing companies having  original seeds of Mahyco  Monsanto Biotech (India) Pvt  Ltd  Monsanto Holdings Pvt Ltd  and Monsanto India Ltd having  seeds with ‘herbicide tolerant  transgenic gene’.  “The other seed  companies  their role in  production and distribution of  seeds with unapproved genes  will also be probed by the SIT  ”  the GR said.  The three companies make  technology transfer to the seed  production companies  who in  turn produce the BT seeds  package and distribute them  across the country  a senior state  agriculture officer said.  The GR also mentioned  that Mahyco-Monsanto was  carrying out some field trials in  Maharashtra under the  observations of Genetic  Engineering Appraisal  Committee and Central Institute  of Cotton Research  Nagpur  between 2008 and 2010.  But  the same company  had withdrawn its proposal to  carry out commercial production  of the seeds at the end of its trials.  “Despite that  several  companies were found producing  BT cotton seeds with these  unapproved genes  which is a  violation of Environment  Protection Act  1986  ” the GR  said.  The state government had  lodged a police complaint on  October 25 and 26 last year at  Savner in Narkhed tehsil of  Nagpur district over these  violations  the GR said. 

Source: Tecoya Trend

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MSMEs to lead Indian economy's consolidation phase: Jaitley

Indian finance minister Arun Jaitley has termed the micro, small and medium enterprises (MSME) sector the economy’s backbone that would lead the current phase of consolidation after a series of major structural reforms. The sector’s health is vital, hesaid after launching CriSidEx, the first sentiment index for micro and small enterprises (MSEs). One of the largest employers, the MSME sector is witnessing an increased integration into the formal economy and in a country with a vast population, the scope for employment either in government or in the large industry has a limited potential, Jaitley said. Developed jointly by CRISIL and SIDBI, CriSidEx is a composite index based on a diffusion index of 8 parameters, and measures MSE business sentiment on a scale of 0 (extremely negative) to 200 (extremely positive). Jaitley said this index will be of some use to companies but of much greater use for policymakers for making necessary changes, according to a news agency report.  The launch of the index is timely as the government has really enabled MSME in terms of credit needs and taxation relief in the last few months, financial services secretary Rajiv Kumar said. The index would be an accurate barometer of trends on ground as not much statistics emanates now from MSE geographies, SIDBI chairman and managing director Mohammad Mustafa said.

Source: Fibre2Fashion

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‘₹80,000-crore stressed loans in MSME sector’

The micro, small and medium businesses, which are saddled with ₹80,000-crore stressed loans, may get a big respite from the relaxed norms for non-performing asset categorisation.“After the revised norms for NPA categorisation approved by the Reserve Bank of India, MSMEs will be allowed to make payments due between September 1, 2017, and January 31, 2018 within 180 days instead of the earlier 90 days,” said Minister of State (Independent Charge) for Micro, Small and Medium Enterprises, Giriraj Singh. Hoping to give a boost to the sector and also encourage job creation that has been impacted by the Goods and Services tax, the Union Cabinet had on Wednesday approved changes in the basis of classifying MSME enterprises from ‘investment in plant and machinery/equipment’ to ‘annual turnover’ and had allowed them to repay loans within 180 days. There are around ₹80,000 crore worth stressed loans in the Micro Small and Medium sector, according to Secretary, Ministry of Micro, Small and Medium Enterprises, Arun Kumar Panda.“The payments will be allowed by banks and non-banking financial companies under the relaxed timeline without a downgrade in asset classification. This was a long standing demand of the sector,” he added. An official statement said, “This will encourage ease of doing business, make the norms of classification growth-oriented and align them to the new tax regime.” The section 7 of the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 will be amended to define units producing goods and rendering services in terms of annual turnover, the statement added. After the decision, a micro enterprise will be defined as a unit where the annual turnover does not exceed ₹5 crore, a small enterprise will be defined as a unit where the annual turnover is more than ₹5 crore but does not exceed ₹75 crore. A medium enterprise will now be a unit where the annual turnover is more than ₹75 crore but does not exceed ₹250 crore. Industry also welcomed the move and said it would improve the business environment. “The definition, while facilitating ease of doing business will also encourage scale, skill, sophistication and speed in the sector. Further, the new turnover based criterion while aligning itself with the GST regime would prove to be a good tool to assess the contribution of MSMEs to GDP,” said Chandrajit Banerjee, Director-General, Confederation of Indian Industry.

Source: Business Line

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Tirupur textile producers to reach customers thru e-com platform

Amazon.com Inc, the world's largest e-commerce company, to provide its platform soon for Tirupur knitwear manufacturers to promote their brands and reach customers. As only a few companies here have succeeded in reaching to customers directly, that is in business to consumer-b2c market. 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 Tirupur exporters’ association, would provide equal ground to all manufacturers to grow in b2c market, said President of TEA, Raja M Shanmugham. Amazon has witnessed huge interest across the world for apparel and other textile goods from Tirupur. They 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. According to Prabhu Dhamodharan, secretary of Indian Texpreneurs Federation, with e-commerce projecting to attain overwhelming growth, the apparel manufacturers should transform themselves to b2c market with the help of players like Amazon, emphasizing the importance of tapping the opportunity.

Source: YarnsandFibers

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Kerala revival package for coir to boost fibre production

The revival package announced by Kerala finance minister TM Thomas Isaac in the state budget for the coir sector will boost coconut fibre production, create more jobs and help in attaining self sufficiency, according to Coirfed. Isaac in his budget speech conveyed government intention of implementing a second restructuring of the coir industry. As the state is importing fibre from other states to meet its needs, the schemes announced will boost fibre production and coir, Coirfed managing director C Suresh Kumar said. Rs 211 crore has been earmarked for the coir industry in the budget. One thousand mills will be set up for transforming at least 200 crore coconut husk — a third of total coconut production in the state — into fibre. Coirfed will procure the fibre from these mills and make available to the cooperative societies assuring a daily wage of Rs 600 to those working in these mills. Besides, 1,000 automatic spinning machines will be installed in the coir-spinning sector, according to a report in a top south Indian English-language daily. Coir will be converted into geo-textiles. A marketing company will be set up with private partnership for the sale of coir products. To transform the cooperative societies into modern factories, automatic looms, semi-automatic looms, tufting machines, needle felting machines and composite machines will be deployed. A one-time settlement scheme will be implemented, after discussing with banks, for those coir cooperative societies that are facing crisis due to the loan arrears. (DS)

Source: Fibre2Fashion

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Indian accessories brand Baggit eyes 25% revenue growth

Indian accessories brand Baggit is stepping up its volume and product line to achieve 25 per cent revenue growth in fiscal 2018-19 and a double-digit bottom line growth. The private company generated around Rs 160 crore revenue in the last fiscal. It produces 1.5 lakh pieces a month, which will be raised by 50 per cent soon, said managing director Nina Lekhi. Despite the challenges arising out of demonetisation and goods and services tax, the company grew in double-digits in the last fiscal and is looking forward to further consolidate and grow faster this year, Lekhi told a news agency. The brand, which has a presence in Sri Lanka, will expand to other countries as the focus will be domestic market, she said. The brand is available in over 1,000 large format retail stores and 50 exclusive outlets apart from online portals.

Source: Fibre2Fashion

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‘No manipulation’ in  calculating GDP: Govt

  NEW DELHI  FEB. 08—  Union minister D V Sadananda Gowda has said that there is  “practically no manipulation” in calculating the GDP as norms  and internationally agreed standards are followed for the calculation.  The Statistics and Programme Implementation Minister’s remark came while he was responding to questions about growth  numbers in the Lok Sabha.  “We are following the norms and the internationally agreed standards and  on that basis  we are calculating the GDP. There is practically  no manipulation. We are collecting data from various departments like agriculture...  ” he said during Question Hour.

Source : Tecoya Trend

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India ranks 44 out of 50 nations  in global IP Index

India has increased  “substantially” its score in the  International Intellectual  Property (IP) Index  ranking  44th among 50 nations  but it  needs to take additional and  meaningful reforms to  complement its policy  the US  Chambers of Commerce said in  a report.  Despite improvement in the score  India continues to  remain towards the bottom of the  ladder. It now ranks 44 out of 50 countries.  Last year India ranked 43rd out of 45 countries in the  Index.  “India’s overall score has  increased substantially from 25  per cent (8.75 out of 35) in the  5th edition of the Index to 30 per  cent (12.03 out of 40) in the 6th  edition  ” according to the annual  report prepared by the Global  Innovation Policy Centre (GIPC)  of the US Chambers of  Commerce.  India’s ranking  the report  said  reflects a relatively strong  performance in the new  indicators as well as positive  reform efforts on patentability of  c om p u t e r - i m p l em e n t e d  inventions (CIIs) and  registration procedures for wellknown  marks.  The US tops the list with 37.98 points followed by United Kingdom (37.97) and Sweden  (37.03).  The annual report notes that India in July 2017 issued ‘Guidelines on the Examination of Computer-Related Inventions’  which significantly improved the  patentability environment for  technological innovations.  Additionally the government created IP awareness workshops and technical  training  programmes for  enforcement agencies  implementing key deliverables of  the National Intellectual  Property (IP) Rights Policy.  “However India s score continues to suggest that additional  meaningful reforms  are needed to complement the  policy  ” he report said.  In what is otherwise a very  challenging environment for IP  rights holders  India said has  demonstrated a long-standing  and clear commitment to  increasing awareness of the  importance of IP rights and  respect for creators and  innovators  it said.  However India has a long  way to go  the report noted.  Among key areas of  weaknesses are limited  framework for protection of life  sciences IP  patentability  requirements outside  international standards  lengthy  pre-grant opposition  proceedings  previously used  compulsory licensing for  commercial and nonemergency  situations  limited participation  in international IP treaties and  no participation in international  PPH (Patent Prosecution  Highway) tracks.  “For the first time India  has broken free of the bottom ten  per cent of economies measured  and its score represents the  largest percentage  improvement of any country  measured.  This is further evidence of  a country on the move  ” said  Patrick Kilbride  vice president  of GIPC.  “Several factors figure into the improved score. India passed  guidelines to strengthen the  patentability environment for  technological innovations  improved the protection of wellknown  marks  and initiated IP  awareness and coordination  programmes  thereby  implementing some tenets of the  2016 National IPR Policy  ” he  said.  “However  additional  meaningful reforms are still  needed to incentivize domestic  innovation  attract foreign  investors  and improve access to  innovation  ” Kilbride said.  The report analyses the  intellectual property (IP) climate  in 50 world economies based on  40 unique indicators that  benchmark activity critical to  innovation development  surrounding patent  trademark  copyright  and trade secrets  protection.


Source: Tecoya Trend

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Jute geotextiles tech makes road debut in State

IMPHAL: For the first time in the State, roads built under Pradhan Mantri Gram Sadak Yojana (PMGSY) have started using jute geotextiles during construction. Indian Jute Industries Research Association (IJIRA), under the supervision of Rural Engineering Department/ Manipur State Rural Roads Development Agency (RED/MSRRDA), Manipur, and the Ministry of Textiles, Government of India, began implementing jute geotextiles for the first time in the State at Hiyanglam, Kakching district today. As part of PMGSY’s X (10th) phase, jute geotextiles were used in the construction of around 2.50 kilometres of the 5.30 kilometres long Hiyanglam to Hiranmei road today. Director of IJIRA, Kolkata, Dr US Sarma, senior scientist Dr Mahua Ghosh, Officer in-charge of North Eastern Regional Centre, IJIRA, Th Basanta, Superintending Engineer of RED/MSRRDA, Khaidem Dheinyachandra as well as numerous officials were present at the spot during the execution of the work. According to SE, Khaidem Dheinyachandra, jute geotextiles will be implemented/used on two roads, namely Hiyanglam to Hiranmei road and the Thounaojam to Elangkhangpokpi road , as a trial run. He also pointed out that synthetic geotextiles have already been used in two roads of Imphal East district. Use of jute geotextiles increases the strength, durability and the California Bearing Ratio/CBR (weight bearing capacity) of the roads. If the method proves successful in a State like Manipur which experiences lots of rainfall and has loose soil, steps will be taken up to use jute geotextiles in other roads of the State as well, he added. Speaking to media persons, IJIRA senior scientist, Dr Mahua Ghosh said that jute geotextiles have already been used successfully in five different States. This is the first time the method has been implemented systematically and scientifically in Manipur, she added. She explained that three types of jute geotextiles are used in construction of roads, namely normal jute geotextile, treated jute geotextile and blended jute geotextile. Treated jute geotextiles are created using a repellent and an anti microbial finish while the blended jute geotextile is created using a mixture which comprises of 20 percent synthetic geotextile, she added. The senior scientist further informed that the first and the last 500 metres of the 2.50 kilometres long stretch are controlled section. The remaining portion of the stretch wills constructed in such a way that the three types of jute geotextiles are used in three different 500 metres stretch, Dr Mahua Ghosh explained. The Ministry of Textiles has also approved the use of jute geotextiles in 19 projects at various parts of Imphal East, Imphal West, Thoubal, Tamenglong and Senapati district, she added.

 Source: The Sangaiexpress

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Global Textile Raw Material Price 2018-02-08

Item

Price

Unit

Fluctuation

Date

PSF

1450.31

USD/Ton

-0.11%

2/8/2018

VSF

2329.43

USD/Ton

0%

2/8/2018

ASF

2584.71

USD/Ton

0%

2/8/2018

Polyester POY

1380.11

USD/Ton

-0.12%

2/8/2018

Nylon FDY

3557.97

USD/Ton

0%

2/8/2018

40D Spandex

5823.58

USD/Ton

0%

2/8/2018

Polyester DTY

2824.04

USD/Ton

0%

2/8/2018

Nylon POY

1635.39

USD/Ton

-0.49%

2/8/2018

Acrylic Top 3D

3781.34

USD/Ton

0%

2/8/2018

Polyester FDY

6030.99

USD/Ton

0%

2/8/2018

Nylon DTY

1631.40

USD/Ton

0%

2/8/2018

Viscose Long Filament

3326.62

USD/Ton

0%

2/8/2018

30S Spun Rayon Yarn

3047.41

USD/Ton

0%

2/8/2018

32S Polyester Yarn

2222.53

USD/Ton

0%

2/8/2018

45S T/C Yarn

3047.41

USD/Ton

0%

2/8/2018

40S Rayon Yarn

2680.44

USD/Ton

0%

2/8/2018

T/R Yarn 65/35 32S

2377.30

USD/Ton

0%

2/8/2018

45S Polyester Yarn

2568.76

USD/Ton

0%

2/8/2018

T/C Yarn 65/35 32S

3175.05

USD/Ton

0%

2/8/2018

10S Denim Fabric

1.49

USD/Meter

0%

2/8/2018

32S Twill Fabric

0.91

USD/Meter

0%

2/8/2018

40S Combed Poplin

1.27

USD/Meter

0%

2/8/2018

30S Rayon Fabric

0.71

USD/Meter

0%

2/8/2018

45S T/C Fabric

0.75

USD/Meter

0%

2/8/2018

Source: Global Textiles

Note: The above prices are Chinese Price (1 CNY = 0.15955 USD dtd. 8/2/2018). 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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Pakistan :Textile industry’s issues to be resolved: Minister

FAISALABAD: State Minister for Textile, Hajji Muhammad Akram Ansari said on Wednesday that problems of textile industry would be resolved within a couple of months. He was addressing the opening ceremony of 2-day international conference on ‘Emerging Trends in Knitting-2018 (ETK-2018)’ at National Textile University Faisalabad (NTUF) here. He said that Faisalabad was known as Manchester of Pakistan and it carried yolk of production of textiles in addition to contribute a lot in textile growth and stabilization of national economy. He said that textile had been a major source of revenue since Pakistan came into being and it was contributing a lot in terms of employment. In Pakistan, every second person is directly or indirectly linked to textile and every person across the globe is an end user of a textile product, he added. “I belong to Faisalabad and well-aware of the challenges being faced by industrialists”, he added.  “We, as a nation are affected directly by the shortcomings faced by the industrial sector in term of market share, development of new markets, decreasing profits and aggressive competition at international market”, he observed. He said that every challenge being faced by the industry would affect the common man, if we did not resolve it on urgent basis. He said that when PML-N government took power, Pakistan was facing terrorism and load shedding whereas increased price of raw material and brain drain had further aggravated the situation. However, the PML-N government took solid steps and overcome terrorism and load shedding, while further problems of industrial sector would also be resolved within next couple of months, he added. Akram Ansari said that ETK-2018 international conference was a good omen to keep pace with innovations and emerging trends in textile knitting. This event will provide an international podium for researchers to come together to play their role in national development, he said. “I will also invite the international researchers around the globe to visit Pakistan as Pakistan’s economy is growing phenomenally, he said and added, we will also keep motivating international researchers, technologists and scientists to play their role in uplifting textile sector”, he added. Earlier, Rector NTU Prof Dr Tanveer Hussain in his welcome address presented performance of his institute and highlighted various innovations in textile. Chairman Pakistan Hosiery Manufacturers and Exporters Association (PHMA) Mian Naeem Ahmad, textilers, and researchers were also present on the occasion.

Source: The Frontier Post

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Bangladesh : Textile leaders urge more infrastructure support

Mentioning the government's initiative to import Liquefied Natural Gas (LNG), BTMA urged the government to accelerate the process so that the current crisis of power can be overcome soon. Mohammad Ali Khokon, the acting president of Bangladesh Textile Mills Association (BTMA), said investment in the textile sector has slowed down in recent times, citing the unavailability of adequate gas and good quality power and land as the main reasons. He made these statements while addressing the inauguration ceremony of the 15th Dhaka International Textile and Garments Machinery Exhibition, being held at the capital’s Bangabandhu International Conference Center. “The improvements in the power sector are not enough to run our heavy textile industry,” he added. “The gas sector still has a huge deficit, which is a major concern for our primary textile sector.” Mentioning the government’s initiative to import Liquefied Natural Gas (LNG), BTMA urged the government to accelerate the process so that the current crisis of power can be overcome soon. “Textile is the mother of industries,” said State Minister for Finance MA Mannan, who was attending the ceremony as the chief guest. In response to the stakeholders’ demands, he said that the government will do everything possible to boost the country’s textile industry. The state minister also urged for assistance from the business community to help the government achieve these goals. This year’s exhibition is hosting 1,200 booths booked by 1,100 exhibitors from 36 countries, including Austria, Belgium, Brazil, China, Denmark, France, Germany and many more. Some of the products being displayed at this years exhibition include knitting machines by leading brands such as Mayer & Cie, Karl Mayer, Pai Lung, Santoni, quality color measuring equipment by Konica Minolta, high-caliber printing machines by M&R, spinning machines by LMW, Rieter, Saurer, Schlafhorst, Truetzschler and Murata, as well as state-of-the-art weaving machines by Toyota, Picanol, Staubli, and SMIT. Exhibits are also scheduled to cover other accessories and technologies from leading international brands, including Loepfe, Groz-Beckert, Graf+Cie, and USTER. Jointly organized by the BTMA and Yorkers Trade and Marketing Company, this exhibition is intended to bring together all machines and technologies needed for the textile industry, from both regional and international brands under one roof. The organizers are hoping that this will serve as a professional trade platform to help all the buyers gain greater competitive advantage in the industry.

The exhibition will end on February 11.

Source: Dhaka Tribune

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Pakistan : Govt disburses Rs 19bn in textile sector

ISLAMABAD: The government disbursed Rs19 billion among the textile sector against claims for Rs 25 billion through the State Bank of Pakistan under the Prime Minister’s Export Enhancement Package till January 20, 2018. The Rs 162 billion Export Enhancement Package was aimed at helping the textile sector to gain competitiveness in the international market in order to enhance the country’s exports, a senior official of Ministry of Commerce and textiles industry told APP here on Thursday. “The government wants to revive confidence of the textile sector through the package,” he said, adding the package would be expanded to other industrial sectors, including the pharmaceutical sector. “We are committed to providing an enabling business environment to all the industrial sectors,” he added. The government, the official said, had also given procedural and tax relaxations on the import of textile machinery for the modernization of industry and to enhance the capacity of the sector. The official said that through this package, the cost of doing business would come down in the country.

Source: Business recorder

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Pakistan : PTI has incorporated textile industry's suggestions in its manifesto, Imran tells APTMA

LAHORE: Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan was briefed on the state of the textile industry on Thursday by All Pakistan Textile Mills Association (APTMA) chairman Aamir Fayyaz. Textile industry policy framework also came under discussion during the meeting. PTI chairman Imran Khan assured the APTMA leadership that his party had incorporated most of their in its economic policy documents. He said the PTI would remove Gas Infrastructure Development Cess (GIDC) and ensure parity in energy prices across the country to make the textile industry competitive. Aamir Fayyaz said the APTMA leadership had decided to share its vision with the political leadership of all political parties ahead of the general elections. Accordingly, he said, the APTMA management had extended invitation to all political parties and Imran Khan was first among them to attend the briefing. Khan was accompanied by Asad Umar, Sheikh Rashid, Chaudhry Muhammad Sarwar and Mohsin Aziz. Several APTMA members including group leader Gohar Ejaz were present on the occasion. Discussing the APTMA’s policy framework, the APTMA chairman said the industry was seeking an enabling environment for setting up 1,000 garments factories with the aim to promote exports of value-added textile products. He stressed the need for extending the duty drawback scheme for five years, besides demanding an increase of drawbacks by a percent for garments (up to 12 percent) and made-ups (up to 10 percent) payment against realisation of export proceeds every year. He demanded that the government should provide RLNG/natural gas (inclusive of GIDC) at Rs.600/MMBTU to the Industry across the country. Also, he said, the government should withdraw surcharges (Rs. 3.50/kWh) to bring electricity tariff at par with region @ Rs. 7/KWh. He said foreign brands should be encouraged to establish buying houses at commercial enclaves in major cities where rent-free space should be provided, if the brand/buying house fetches a minimum of $100 million per annum exports. The availability of rent free space should be extended for another two years, he added. He has sought provision of Rs.100,000 per annum per worker for skill development for the workforce under skill development programme. The APTMA chairman has also sought LTFF to indirect exports, Islamic mode of financing and building of infrastructure for garment plants.

Source: The Daily Times

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Pakistan: Subsidy on agricultural machinery for cotton growers

LAHORE: Punjab agriculture department has started a programme to provide subsidy of millions of rupees for agricultural machinery to cotton growers. Spokesman for Agriculture Department Thursday said that under this scheme, subsidy of Rs3,000 for hand sprayer, Rs15,000 for power sprayer, while Rs50,000 for tractor mounted boom sprayer is being provided to farmers of core cotton area. According to implementation plan, farmers belonging to District Multan, Khanewal, Lodhran, Vehari, Bahawalpur, Bahawalnagar, Rahimyar Khan, Dera Ghazi Khan, Muzaffargarh and Layyah can apply for this subsidy. Farmers can get free-of-cost application forms from office of Deputy Director Agriculture (Ext), Assistant Director Agriculture (Ext) and Agriculture Officer (Ext) belonging to their areas. Application forms can also be downloaded from web address www.ext.agripunjab.gov.pk. For this subsidy scheme, farmers have to fulfill all the conditions written on subsidy form in this regard. These forms must be submitted to office of Assistant Director Agriculture (Ext) of their respective district until 12th February through courier or by hand.

Source: The News International

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Cambodia : Garment workers protest over unpaid wages

Nearly 1,000 workers from three factories in Phnom Penh’s Por Senchey district yesterday protested after learning that their employer has fled without paying their January wages. The three factories, Yu Fa Garment Industry, Yu Da Garment Industry and S.R.E Garment Company, are owned by a single Chinese businessman who has disappeared. Pich Malen, a Yu Da Garment Industry worker, said staff started to protest on Wednesday night and continued to do so yesterday after noticing factory equipment was being sold. Ms Malen said the workers completed their duties for the month of January and were then told they would have some time off in February, for which they would get 50 percent of their wages. But their January pay was not provided, nor any for February, when they learned the owner had skipped town and equipment was being moved out of the factories. “They allowed us to have a rest for a few days while still getting 50 percent of wages, but in fact, the employer escaped,” she said. “The workers then came out to protest.” Tong Tek, a chief of administration for S.R.E Garment Company, said he did not know the whereabouts of the owner and could also not provide his name. “I am not sure where my employer is now,” he said. “He did not appear at work and he did not pay wages to the workers.” Son Prak, a deputy chief with the Worker Union Federation, said that in a meeting yesterday afternoon the workers suggested that labour officials should help staff sell the company’s machines to cover their wages. “The employer escaped and no one paid wages to the workers, so the staff suggested to sell the machines, but no agreement has been reached and another meeting is set for Monday,” he said.

Source: Khmer Times

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UN, fashion industry join hands for sustainable development

Representatives of top fashion brands, such as Hugo Boss, Adidas, Puma, C&A and H&M, along with a yarn manufacturer, recycler and representatives of associations devoted to environmental sustainability in the fashion sector, spent two days in Bonn last month to explore ways to work together with the United Nations (UN) to reduce greenhouse gas emissions. Their meeting discussed possible environmental targets, regional dialogues with fashion industry suppliers, an online platform for global and local dialogue, bringing together the separate environmental initiatives in the fashion and textile sector, and enhanced engagement with policymakers at the national and international levels in the context of the Paris Climate Change Agreement and the UN Sustainable Development Goals (SDGs). They also explored development of a common narrative, ways to showcase best practices and ambitious action on climate change and new business models that drive business while ensuring environmental sustainability, according to a UN Climate Change press release. The total greenhouse gas emissions from textiles production stand at 1.2 billion tonnes annually at present. Sector emissions are expected to rise by more than 60 per cent by 2030, according to some estimates. The next step is preparation of a report by UN Climate Change to share with industry representatives, and then get moving on a programme of work to spur global climate action for sustainable development in the fashion sector, one that builds on the many existing environmental initiatives.

Source: Fibre2Fashion

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Xi stresses on developing modern economy in China

Communist Party of China (CPC) central committee general secretary Xi Jinping has called for making development of a modern economy a key topic in theory and practice, a strategic development goal and an imperative for economic structure shift to push development to a new level. He told this to the political bureau of the 19th CPC central committee recently. Only a modern economy can help China better adapt to global trends, compete globally and support modernisation of other fields, Xi said. The drive is part of a grand blueprint to build China into a great socialist country that is prosperous, strong, democratic, culturally advanced, harmonious and beautiful by the middle of the century, according to a news agency report. Xi said the new economy should integrate all inter-related social and economic activities. Innovation should drive building of an industrial system well coordinated with the economy, technological advances, modern finance and human resources, Xi said. The new economy should draw on the useful practices of developed countries, but should be more in line with China's own national conditions and feature Chinese characteristics, he added.

Source: Fibre2fashion.

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Pakistan-No trading reported at cotton market

With buyers and sellers staying away from the proceedings kept cotton market conditions dull on Tuesday. The undertone was weak and outlook uncertain. However, low demand for cotton from the value-added textile sector is cited as another factor. Moreover, slow demand for cotton yarn has forced many spinners to move cautiously and avoid building up their inventories. The downward trend in world leading cotton markets has impacted the domestic market adversely. At the Karachi Cotton Association (KCA) spot rates were lowered by Rs100 to Rs7,200 per maund. According to official report, no transaction was reported to have materialized on ready counter. According to market sources, substantial quantity of Indian-origin grey cloth is making its way illegally via Dubai into the local market. Chairman Pakistan Apparel Forum (PAF) Jawed Bilwani has already raised this issue with the government. A large number of local looms have closed down due to large quantity of Indian grey cloth which has flooded the market. On global front, New York cotton closed easy for all future contracts while, Indian cotton declined between Rs100 to Rs200 per candy.

Source: YNFX.

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Olympic Uniforms made of 'smart' textiles

MADISON, - The Olympic Games are underway and athletes are suiting up to get ready for competition. An athlete's uniform serves a purpose greater than signifying what country they represent. According to UW Madison Assistant Professor of Textile and Apparel Design Marianne Fairbanks, many athlete's uniforms are 'smart' textiles- meaning the uniform is actually a piece of technology that can aid the athlete in competition. "Pay attention to their uniforms and what they're wearing. Because we look at textiles as clothing as identifiers and, we'll see all those USA athletes, and athletes from around the world, come out with their amazing costumes and uniforms, especially at the opening event. We see those as signifiers, but beyond the signifiers of color or texture, pay attention because that could be the next thing that's helping them be an amazing performance athlete," said Fairbanks. 'Smart' textiles can benefit the athlete by wicking away water, strategically compressing muscles, or even helping the athlete recover faster. "We look at animals that are really fast and wonder if we can mimic some of those capabilities in the way we design our textiles. Whether its water beading off, or air around a speed skater...But also we're thinking about muscle compression and things like that, that could tighten around the core of an athlete to give them more strength." A 'smart' textile does not have to be a complicated piece of technology, though, to provide a competitive athletic advantage to an athlete. "It could be as simple as the socks a snowboarder wears." Nearly every sport uses some kind of e-textile to aid in athletic performance, whether that be in training, performing, or recovering. "Muscle-healing textiles are textiles that can help your muscles sort of recover faster. In a way, that's about performance, but it is about healing quicker post-performance so you're ready for that next work out. I thought that was really interesting. That it is not about the moment of the action or the sport, but how can we recover faster and a lot of textiles focus on whether its heat and vibration..subtle vibrations that can go into your skin and sort of massage your muscles. So, I think there is a lot on the forefront of recovery. Compression, vibration, heat...a lot of sensory responsive textiles," Fairbanks said.

Source: NBC15.com

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