The polyester staple fibre prices have been increased by Rs 1.25 per kg. effective from 16 February 2018. The increase is on account of hike in polyester intermediate prices by Rs. 2 per kg. With hike in raw material prices POY prices for fine denier will be quoted at Rs. 94.50 per kg and coraser denier at Rs. 86.50 per kg effective from 16 February 2018. The polyester raw materials are now quoted as: PTA at Rs. 59200 (+1800) MEG at Rs. 73700 (+12000 and Chips at Rs. 78750 (+2000) per kg.
Source: Tecoya Trend
I. MERCHANDISE TRADE
EXPORTS (including re-exports)
Exports during January 2018 have exhibited positive growth of 9.07per cent in dollar terms vis-à-vis January 2017. Exports have been on a positive trajectory since August 2016 to January 2018 with a dip of 1.1 per cent in the month of October 2017. Exports during January 2018valued at US$ 24383.97 million as compared to US$ 22356.32 million during January 2017. In Rupee terms, exports were valued at Rs.155172.00crore as compared to Rs.152202.70crore during January 2017, registering a riseof 1.95per cent. During January 2018, Major commodity groups of export showing positive growth over the corresponding month of last year are Engineering Goods (15.77%), Petroleum Products (39.5%), Gems & Jewellery (0.89%), Organic & Inorganic Chemicals (33.6%) and Drugs & Pharmaceuticals (8.6%).Cumulative value of exports for the period April-January 2017-18 was US$247896.55 million (Rs1596591.91crore) as against US $221823.46million (Rs1490544.21 crore) registering a positive growth of 11.75 per cent in Dollar terms and 7.11 per cent in Rupee terms over the same period last year. Non-petroleum and Non Gems & Jewellery exports in January 2018 were valued at US$ 17523.24 million as against US$ 16607.36 million in January 2017, an increase of 5.51%. Non-petroleum and Non Gems and Jewellery exports during April-January 2017-18 were valued at US$ 181238.18 million as compared to US$ 161281.88 million for the corresponding period in 2016-17, an increase of 12.37%.
IMPORTS
Imports during January 2018 were valued at US$ 40682.44 million (Rs258890.43 crore) which was 26.10 per cent higher in Dollar terms and 17.87 per cent higher in Rupee terms over the level of imports valued at US$ 32261.14 million (Rs. 219635.13 crore) in January 2017. Cumulative value of imports for the period April-January 2017-18 was US$ 379052.07million (Rs. 2441180.27 crore) as against US$ 310160.46 million (Rs. 2084786.99crore) registering a positive growth of 22.21 per cent in Dollar terms and 17.09per cent in Rupee terms over the same period last year. Major commodity groups of import showing high growth in January 2018 over the corresponding month of last year are Petroleum, Crude & products (42.64%), Electronic goods (12.19%), Machinery, electrical & non-electrical (29.11%), Pearls, precious & Semi-precious stones (55.71%) and Coal, Coke & Briquettes, etc. (31.67%).
CRUDE OIL AND NON-OIL IMPORTS:
Oil imports during January 2018 were valued at US$ 11659.07million which was 42.64percent higher than oil imports valued at US$ 8173.96million in January 2017.Oil imports during April-January 2017-18 were valued at US$ 87807.92 million which was 26.35per cent higher than the oil imports of US$ 69493.68 million in the corresponding period last year. In this connection it is mentioned that the global Brent prices ($/bbl) have increased by 25.69% in January 2018 vis-à-vis January 2017 as per World Bank commodity price data (The pink sheet). Non-oil imports during January 2018 were estimated at US$ 29023.37 million which was 20.49 per cent higher than non-oil imports of US$ 24087.18 million in January 2017 Non-oil imports during April-January 2017-18 were valued at US$ 291244.15 million which was 21.02 per cent higher than the level of such imports valued at US$ 240666.78 million in April-January, 2016-17.
II. TRADE IN SERVICES (for December, 2017, as per the RBI Press Release dated 15th February 2018)
EXPORTS (Receipts)
Exports during December2017 were valued at US$ 16,005million (Rs. 102819.83Crore) registering apositive growth of 3.98per cent in dollar terms as compared to positive growth of 8.76per cent during November2017 (as per RBI’s Press Release for the respective months).
IMPORTS (Payments)
Imports during December2017 were valued at US$ 9,859million (Rs. 63336.50Crore) registering a positivegrowth of 2.20per cent in dollar terms as compared topositive growth of 10.89per cent during November2017 (as per RBI’s Press Release for the respective months).
III.TRADE BALANCE
MERCHANDISE: The trade deficit for January 2018 was estimated at US$ 16298.47millionas against the deficit of US$ 9904.82million during January 2017.
SERVICES: As per RBI’s Press Release dated 15th February 2018, the trade balance in Services (i.e. net export of Services) for December, 2017 was estimated at US$ 6,146million.
OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April-January 2017-18 is estimated at US$ 80215.52million as compared to US$ 40021.00million during April-January 2016-17.
Source: PIB
"ETI members recognise that the human rights of workers, including their rights to freedom of association and collective bargaining, should be respected," Buttle said by email. An Indian trade union has asked 130 global garment brands for help in a dispute with a major label supplier in a rare move by workers that campaigners say spotlights an unmapped part of the supply chain. The Garment and Textile Workers Union (GATWU) said a demand for fair wages and the reinstatement of more than 50 employees dismissed in recent months from AveryBSE 0.15 % Dennison's factory in southern Karnataka state was from the "invisible worker".Unions and activists say as companies volunteer to map their supply chains, labour violations at the end of complex manufacturing and distribution networks are often hard to spot. "We wrote to brands because these workers are part of their supply chain and are being treated unfairly," said Jayaram Kottagarahalli Ramaiah, an adviser at GATWU, which has an active membership of more than 5,000 workers in Karnataka. "Workers tried to talk with management in recent months, wore black bands in protest and some went on hunger strike, but to no avail," he told the Thomson Reuters Foundation. California-based Avery Dennison - which is one of the world's largest suppliers of labels, graphic tags and price tickets to the apparel industry - has denied all allegations. In a complaint to Avery Dennison's management, the global brands, and the state labour department, the union said many of the workers had been employed on contract for at least five years and should have been made permanent staff. Calling the terminations illegal, GATWU accused the company of not paying minimum wages and benefits, and of threatening to close the factory should contract workers unionise. Under Indian law, companies may hire contract workers for jobs that are not part of their "core work", but must ensure payment of the minimum wage and access to benefits. Avery Dennison's director of human resources for South Asia, Saurav Kumar, said engaging contract employees was both common practice and legal. Permanent jobs were offered to workers based on company's requirements. "Currently, a recruitment drive is going on ... Contract workers who have the experience of working on machines in Avery Dennison are being given preference over external candidates," he said in an email.
BRAND CONCERNS
The dispute is the latest in a series of rows between workers and management in India's multi-billion dollar textile and garment industry that employs about 45 million workers. Campaigners have complained that a growing number of workers at suppliers have been suspended or dismissed within days of joining unions or attending union events. Brands have expressed concerns over accusations of discrimination against unionists, said Martin Buttle of the Ethical Trading Initiative (ETI), which brings together brands, unions, factory-owners and civil society groups. Avery Dennison is not an ETI member, but does supply labels to many ETI members, including H&M, Gap and Inditex. "ETI members recognise that the human rights of workers, including their rights to freedom of association and collective bargaining, should be respected," Buttle said by email. Avery Dennison had "agreed to keep them updated on their actions", Buttle said. Gowrish Venkategowda, 32, said Avery Dennison's factory told him on Feb. 1 that his services as a data-entry operator earning 12,000 rupees ($187) a month were no longer needed. "Then they went and hired people on daily wages to do the job I have done for the last 14 years," he said. (Reporting by Anuradha Nagaraj. Editing by Robert Carmichael and Belinda Goldsmith Please credit the Thomson Reuters Foundation, the charitable arm of Thomson Reuters, that covers humanitarian news, women's rights, trafficking and climate change.
Source: The Economic Times
NEW DELHI: The country’s exports grew by 9% to $24 billion in January, helped by a healthy growth in shipments of chemicals, engineering goods and petroleum products, even as the trade deficit widened to an over three-year high. The trade gap soared to $16 billion in January on account of a 26% increase in imports to $41 billion due to increased inbound shipments of crude oil, as per data released by the commerce ministry. The country’s trade deficit — the difference between imports and exports — had touched the figure of $17 billion in November 2014. The trade deficit in January last year stood at $10 billion. “Exports have been on a positive trajectory since August 2016 to January 2018 with a dip of 1% in October 2017,” the ministry said in a statement. Cumulative value of exports for April-January 2017-18 grew 12% to $248 billion as against $222 billion in the year-ago period. Imports during the tenmonth period of the current fiscal amounted to $379 billion as against $310 billion, a growth of of 22%. The trade deficit during the period widened to $131 billion. Exports of chemicals, engineering goods as well as petroleum products surged by 33%, 16% and 40% respectively, in January. However, shipments of ready-made garments declined by 9% to $1.4 billion last month. Gold imports dropped by 22%to $1.6 billion last month as against $2 billion in January 2017. Commerce Minister Suresh Prabhu said in a tweet that “export focused initiatives continue to bear fruit”. Federation of Indian Export Organisations said though the shipments are witnessing positive growth for the third time in a row, the rate of growth is declining on month-on-month basis.
Source : Financial Express
The government will change the base year to 2017-18 for the calculation of GDP and IIP numbers while for retail inflation the year will be revised to 2018 Union minister DV Sadananda Gowda said on Thursday. “During 2018-19 the ministry is proposing to initiate steps to revise the base years of gross domestic product (GDP) Index of Industrial Production (IIP) and Consumer Price Index (CPI) to accommodate and factor the changes that take place in the economic scenario of the country ” the statistics and programme implementation minister said at a conference on budget provisions.
Source: Tecoya Trend
Growth in exports reduced in January to 9.07 per cent, from 12.03 per cent in December. With exports of $24.38 billion, the growth rate in January dipped to a single digit for the first time in three months. The rate in December more than halved to 12.4 per cent, from November’s 30.5 per cent. “More than 6 per cent of the growth has been contributed by petroleum products. More importantly, labour-intensive sectors like garments, carpets, handicrafts, and man-made textiles are exhibiting negative growth, primarily due to liquidity crunch because of funds getting blocked under the goods and services tax regime,” Ganesh Kumar Gupta, president of the Federation of Indian Exports Organisations, said. Of the 30 major product groups, 20 were in positive territory in January, against 21 in December. On the other hand, the figures made clear that India is set to overshoot in 2017-18 the $380.36 billion import bill of the previous financial year. The pace of imports continued to quicken for the third straight month, leading to inbound shipments in January rising by 26.10 per cent, higher than the 21.1 per cent rise in the previous month. This makes the cumulative import bill for the first 10 months of the current financial year $379 billion. The trade deficit widened to a 56-month high of $16.3 billion in January, against the $14.9 billion deficit in December and $9.91 billion registered a year ago in January 2017. In this financial year, the deficit increased to $131.14 billion till January, against the $114.9 billion in the corresponding period in the previous year. The deficit was fed by a huge rise in oil imports, which shot up by more than 42 per cent in January to $11.65 billion after the 34.9 per cent rise in the previous month. However, gold imports slipped by 22.07 per cent to $1.59 billion after the 71.5 per cent jump in the previous month. The dip in gold imports was more than offset by higher imports of silver, pearls, and precious and semi-precious stones, said Aditi Nayar, principal economist, Icra. Non-oil and non-gold imports, taken as a sign of industrial demand, rose 24.43 per cent in January, after rising 12.9 per cent in December. This implies that the recent, strong pickup in industrial production may continue over the coming months. Index of industrial production growth in December stood at 7.1 per cent. A sizeable chunk of India’s major export segments, including refinery products, saw a faster growth rate of 39.5 per cent in January, against the 25.15 per cent rise in December. Pharmaceuticals rose 8.6 per cent from 6.95 per cent in December and organic and inorganic chemicals by 33.6 per cent from 31.36 per cent in the previous month. However, major segments saw a reduction in growth rates. They are engineering goods, which grew 15.77 per cent in January, compared to 25.32 per cent in December, as well as gems and jewellery, which rose 0.89 per cent from 2.38 per cent in December. Earlier this month, Finance Minister Arun Jaitley had announced in the Budget the government hoped exports would grow 15 per cent in the current financial year. Till January, India’s cumulative merchandise shipments in 2017-18 reached more than $246 billion. “With the merchandise trade deficit in January being sharply higher than expected, we have revised our forecast for the 2017-18 current account deficit to $47-50 billion, or nearly 2 per cent of gross domestic product (GDP), from the earlier expectation of $42-44 billion,” Nayar said. This is the last crucial data before the GDP numbers for the third quarter of 2017-18 and the second Advance Estimates for the current financial year are released at the end of February.
Source: Business Standard
MUMBAI — Global VSF prices may soften in the near term as new capacities are expected to come on stream in China according to Grasim Industries Limited. Giving details of viscose staple fibre (VSF) biz in its Quarterly Performance Review Q3 FY18 14th February 2018 Grasim informed that VSF sales volumes up by 9% yoy led by strong domestic demand. The total sales increased from 122 000 tonnes in Q3FY17 to 133 000 tonnes during Q3FY17. The Share of domestic sales in the total sales increased from 63% in Q3 FY 17 to 77% in Q3 FY18. The total revenue generated from the VSF business during the period was recorded at 2186 crores recording an increase of 24% over the corresponding period of Q3FY17 when it clocked revenues of Rs. 1762 crores. The product mix improvement in favour of Specialty (Q3 FY18 34%). The specialty sale volumes has increase from 109 000 tonnes during 9MFY16 to 135 000 tonnes during 9MFY17 and continued to soar to 141 000 tonnes during 9MFY18. Grasim informed that LIVA has driving domestic volumes. The number of Liva tagged garments doubled YoY in AW17 to 17.6 million. The number of LIVA outlets multiply 18x YoY from 2035 in AW16 to 37 420 in AW17. To tap the strong demand growth of VSF and maintain its leadership position Grasim has committed a fresh capex of Rs.3 523 crore for capacity expansion. Coupled with the existing expansion plan at a cost of Rs.802 crore the total capacity will increase by 58 per cent to 788 KTPA. Pursuant to the agreement for the ‘Right to Manage & Operate’ VFY business of Century Textiles & Industries Ltd. for a period of 15 years Grasim has commenced operations from 01 February 2018. Grasim also reported cisible improvement in the sales volume of Linen yarn and fabric sequentially. Ther revenes were recorded at Rs. 344 crores while the EBITDA has been reported at Rs. 12 crores Presenting the VSF outlook Grasim informed that By Our Staff Reporter the VSF business will continue to focus on expanding the market in India by partnering with the textile value chain achieving better customer connect through brand Liva and enriching the product mix through a larger share of specialty fibre. The new capacities likely to come on stream in China may impact the global VSF prices in the near term.
Source: Tecoya Trend
Extending gains for the third straight session, the rupee on Thursday advanced by 18 paise to close at 63.91 a dollar on sustained selling of the American currency by exporters and banks. The local unit also got a boost from higher domestic equity markets. The dollar fell further against the yen to hit a 15-month low in Asian trade while the euro gained after firm German growth, which also supported the rupee’s upmove. The rupee gained 18 paise today to end at a two-week high of 63.91 against the dollar, a level last seen on January 31 when it had finished at 63.58. On Wednesday, the rupee had ended 23 paise higher at 64.09. Meanwhile, the Sensex ended higher by 141.52 points or 0.41 per cent to 34,297.47 and the Nifty closed up by 44.6 points or 0.42 per cent at 10,545.50 on positive global cues.
Source: Business Line
Andhra Pradesh last year launched an investigation after finding nearly 15% of its cotton acreage was planted with an unapproved variety of genetically modified seeds developed by Monsanto, which dominates India’s cotton seed market. The Monsanto logo is displayed on a screen where the stock is traded on the floor of the New York Stock Exchange.(Reuters File Photo) A top cotton-growing state, Andhra Pradesh has told two local companies that seeds they sold to farmers may have contained traces of an unapproved GM strain from Monsanto, according to government notices seen by Reuters that warn of action against the firms. US agrochemicals company Monsanto Co told Reuters late last year that local seed companies have attempted to “incorporate unauthorised and unapproved herbicide-tolerant technologies into their seeds” for profit, leading to the proliferation of illegal seeds, according its own internal investigation and that by Andhra Pradesh. Indian seed firms deny this. The authorities say they are still investigating how the strain has seeped into agriculture. Andhra Pradesh last year launched an investigation after finding nearly 15% of its cotton acreage was planted with an unapproved variety of genetically modified seeds developed by Monsanto, which dominates India’s cotton seed market. A panel of officials inspected some seed production plots and commercial cotton fields and collected “leaf samples” that tested positive for the Monsanto’s Roundup Ready Flex (RRF) strain, which is engineered to tolerate common weedkillers. Farmers told the officials the seeds that produced the positive tests were from brands marketed by Kaveri Seed Co Ltd and Nuziveedu Seeds Ltd (NSL), according to “show cause” notices sent to the companies on January 29 by the office of the state’s commissioner of agriculture. The notices, which were reviewed by Reuters, do not refer to any other evidence linking the seeds to the two companies. Both companies deny any wrongdoing. Using unapproved GM strains is illegal and the state earlier said criminal charges can be brought against those found guilty under the Environment Protection Act. “Any Genetically Modified Crop in India should be released for commercial crop use only after approval of Genetic Engineering Approval Committee (GEAC),” the notices read, referring to a committee of experts under the Union environment ministry. They asked the companies to explain within five days why their cotton seed licences “should not be suspended/cancelled”. Contacted by Reuters, Kaveri Seed and NSL said the seeds were not sold through their dealers or distributors. The state authorities should not have issued the notices without further supporting evidence, they said. NSL later said a court in Hyderabad had stayed, or suspended, the notice on Wednesday. Reuters could not immediately confirm that with the court. An official in the state agriculture commissioner’s office, which sent the notice, said it was not aware of any case filed by NSL. Spokespersons for the Andhra Pradesh government and the Union environment ministry in New Delhi declined to comment on the investigation or the companies’ responses. India approved the first GM cotton seed trait in 2003 and an upgraded variety in 2006, helping transform the country into the world’s top producer and second-largest exporter of the fibre. But India has not approved any other GM crops on concerns over their safety, and large foreign companies have been increasingly unhappy at what they say is the infringement of their intellectual property by widespread planting of unapproved seeds. Authorities in Maharashtra are also investigating illegal cotton planting. Monsanto said using its unapproved technology in seeds could leave Indian farmers “vulnerable to exploitation by opportunistic companies”, because they could lose their crops if found to have knowingly planted such seeds. “We appreciate the efforts being taken by the authorities to curb the sale of illegal and unapproved seeds,” said a Monsanto India spokesperson. “We will continue to extend our cooperation in the investigation and efforts to halt the sale of such unapproved products.” Monsanto pulled an application seeking approval in India for the RRF variety in 2016 following a dispute over how much the company should charge in royalties to license its technology to local firms.
FINDINGS DISPUTED
Kaveri Seed and NSL are among India’s top 10 seed companies, according to market estimates, and both had agreements with Monsanto to license its GM cotton technology. NSL said the Andhra Pradesh investigating committee should not have issued the “show cause” notice -- an official demand that the company explain its actions -- based solely on what farmers had told them. “Under the law, the samples have to be drawn in our presence and after ascertaining the source of the seeds purchased by the farmer,” NSL company secretary Narne Murali Krishna said in an emailed statement. “The farmer might have grown a crop from anybody’s seeds.” NSL said Monsanto and its Indian partner had failed to prevent the spread of seeds used in its trial. Monsanto denied that and said it fully complied with Indian regulations. NSL had replied to the notice and was confident that it would, as a result, be withdrawn by the state’s agriculture department, Krishna said, declining to share the content of the company’s reply. None of the seed samples collected from NSL warehouses and distributors by government officials tested positive for the herbicide-tolerant traits of Monsanto’s strain, he said. Government officials declined to comment on the matter. Kaveri Seed has also replied to the show cause notice, said G. V. Bhaskar Rao, its chairman and managing director. “Sending notices based on the statements made by a few farmers is unprofessional,” Rao told Reuters. “We are not at all producing anything which has any trace of RRF and authorities are always welcome to come and check samples at our seed production centres.” A senior Andhra Pradesh official, who did not wish to be identified because he was not authorised to speak to the media, said interviewing farmers was the only way the committee could trace the source of illegal seeds. “Since planting is over and we can now only collect leaf samples, we will have to rely on farmers to trace the origin of seeds,” he said. Monsanto, which is being bought by Germany’s Bayer for $66 billion, has been at loggerheads with local seed firms, including NSL, and India’s government over how much it can charge for its GM cotton seeds, costing it tens of millions of dollars in lost revenue a year.
Source: Hindustan Times
Operations in India can generate $1 billion in revenues through rapid expansion of stores and newer categories, according to US lifestyle and footwear brand Skechers CEO David Weinberg. Though it is a bit more difficult to get started in India, but the brand is resonating, he said. The company now does business worth less than $100 million in the country. Weinberg said the company’s India operations turned profitable last year for the first time, according to a reportin a top Indian economic newspaper. Skechers entered India in 2012 through a joint venture with the Future Group and has been doubling its business and plans to add its own manufacturing units and newer categories. To offset the weakness in the US market, which has been growing in mid-single digit, it is targeting high-growth foreign markets. (DS)
Source: Fibre2Fashion
Garments are getting simpler with minimal approach to details and styling. As there is a demand for long lasting essential products, versatility and practicality in terms of fabrics and detailing are the some of the important factors to consider. Basic fashion no longer means ordinary, staple fashion products have become more lavish and desirable.
Trend File
Summer is about sea and sand, and tropical is an all time favourite fashion trend for summer. Tropical motifs and bolder colours update women’s wear this season. Nature inspired tropical prints and patterns are refreshed with motifs of different sizes and various off beat placements. Guided by globalisation and cross-cultural connections, casual bohemian styles in a more urban look are one of the key trends for the season. This trend is inspired by adventure and travel activities. Mixing of materials, frayed edges, intricate embellishments and surface textures like embroideries, sequence, and prints are key elements of this trend.Layered nomad-influenced styling is combined with rich cultural references, traditional craftsmanship, and folkloric details. Bold stripes in various colours feel less preppy and more modern. Breton stripes or horizontal sailor stripes are manipulated in varying scales. Stripes in monochrome are also influenced by the retro trend of late 80s and early 90s. Oversized eyelets and delicate ties offer a premium feel. Eyelets and tie-ups of different sizes are being used on top-wear and bottom-wear garments as functional and utilitarian details. Long line shirts, which are longer than usual shirts are trending this season. Apart from being boxy, the shirts will be longer with varying hemlines. Round and assymetrical hemlines being the most trendy in the longline shirts. Hi-low hemline will be also a prominent feature. To say sequins and sparkles will be a big deal this summer is an understatement. Glitter is a key feature in most of the fashion garments across casual wear. Shirts made out of denim, checks and textured fabrics have stones and pearls as emblishments sometimes clubbed along with the embroideries and floral motifs. Various sizes of checks, varying from ghingham to windowpane, checks are the must haves for the season. Shades of olive, navy, red and pink in light weight fabrics are the most prominent colours this season. Boxy shirts in checks fabric with drop shoulder details and emblishments of various kind adds to the feminity. It looks as if floaty feminine heritage checks are going nowhere for the season ahead. Fringing made a comeback this season. Adding a character to the garments, these details are seen on shirts and flowey long line skirts. Sheer fabrics for various fashion products are hot from runway to streets. This summer and transparency is a headlining trend - sheer coats, dresses and shirts in cambric, voile and other drapey blends. Ruffles added a feminine air yet again this season, gathers and ruffles are some of style details on topwear for women. Bold shadesalong with the classic blues, whites and olives, shades of ochre, orange and dusty pink tones in sunburnt and matte appearance are the key colours of the season. Summer will be bright indeed with bold and vibrant shades. Pastels are the colours of the season along with the bright shades. Whether lilac, pink, lemon or duck egg blue, expect to see an array of fashion’s prettiest shades this spring summer. A range of camouflage and nature-inspired patterns emerge for more daring casual wear designs. Shirts and t-shirts in camoufladgewith emblishments like prints and embroidery motifs along with bottom wear in camouflage is a must to have this spring summer. Volume and oversized silhouettes continue to make their mark this season, with 1980s-90s references being one of the key sources of inspiration. Elongated sleeves and dropped shoulders come through as the most significant detail on shirts, while volume in jeans is controlled via folder pleats and cinched waists. Big graphics with subliminal statements appear on garments, which become a way of communicating beliefs. Messages also incorporate art and culture references. Typograpy being a huge trend, one words and phrases are used in different artistic fonts to communicate the thoughts. Printing techniques and emblishments are being used to accentuate the text.
Source: The Hans India
The China National Textile and Apparel Council (CNTAC) and the Organisation for Economic Cooperation and Development (OECD) recently inked an agreement to promote responsible business in global textile and apparel supply chains. The joint vision will connect efforts by suppliers, brands and buyers, creating more synergy, said CNTAC vice president Chen Dapeng. According to OECD deputy director of financial and enterprise affairs Mathilde Mesnard, OECD will have the opportunity to cooperate on the development of a Chinese-owned due diligence guidance for the textile and apparel supply chain that is aligned with OECD guidance but adapted to the Chinese context. “In recognition of China’s incredibly important role in this sector, with almost 40 per cent market share, this is a step towards furthering our collective ambitions for a global level playing field for companies in the textile and apparel sector on responsible business conduct,” an OECD press release quoted him as saying. This work is a direct outcome of the China-OECD Joint Programme of Work from 2015-16 and will seek to contribute to the aims of China’s Centre for Responsible Business and Sustainable Development, of which CNTAC is a founding member. (DS)
Source: Fibre2Fashion
Seeks implementation of CTG policy The National Union of Textile, Garment and Tailoring Workers of Nigeria (NUTGTWN), has called on the Federal Government to institute a special task force against smuggling. Its General Secretary, who spoke with The Nation, said the industry has recorded 700 job losses to retrenchment in some of the remaining factories. Comrade Aremu said: “There is high influx of counterfeit and smuggled goods due to weak enforcement of import prohibition policy. The Federal Government should do what is being done on rice importation, to textile. We need a Special Task Force against smuggling just as it is on rice.”In spite of the efforts by the Federal Government, the textile industry is yet to come alive. Only recently, the industry recorded about 700 direct job losses due to retrenchment in some of the remaining factories.” Aremu commended President Muhammadu Buhari for his commitment to reviving the textile industry, adding that Buhari made textile industry and the manufacturing sector’s revival his cardinal campaign programme. He said through the activist facilitation, President Buhari administration has initiated a number of measures aimed at industry revival. Aremu said there could not be development without industry. Only industry can provide sustainable jobs and living wages and necessary revenue for the government to provide the needed infrastructure for development, he said. He said for a diverse country like Nigeria, industry is also a unifier. ‘’There was once a Nigeria in which we have textile industry in all the geo-political zones of the country.This is why our union is Pan-Nigerian,’’ he said. He said for Africa to meet the Sustainable Development Goal, 2030, African Continent must innovate and industrialise. “Africa must copy China’s industrialisation drive, which has within 20 years moved over 500 million people out of poverty through sustainable employment and wage-led manufacturing and industrialisation. Africa must make what it consumes, otherwise it will be consumed by the rest of the world,” he said. He also commended the Executive Orders issued by the Federal Government in line with President Buhari’s promise on the ease of doing business. “We acknowledge and commended the Federal Government of Nigeria for launching the Economic Recovery and Growth Plan (ERGP). However, it is surprising the National Cotton, Textile & Garment (CTG) policy was not built into the ERGP. “The government should ensure the implementation of Cotton, Textile and Garment (CTG) policy as adopted by the Federal Government since 2014. The major highlight in that policy is that we must ensure that there is uninterrupted electricity supply to textile industry, as well as other manufacturing industry,”he said.
Source: The Nation
KARACHI: Buyers remained eager for fine grade of lint amid firm physical prices while sellers withholding raw stocks offloaded their stuff to capitalise maximum financial benefit. Better lint is on shrinking and major buyers remained in quest of fine grade and imports expecting land in March end would put some pressure on local prices. Lint prices would remain stable before arrival of imports therefore buyers with liquidity prefer pile-up of maximum second grade of lint. Paucity of better grades was still forcing leading buyers to consolidate their long positions. Trading remained moderate with selective buying and economic activities at major stations in Sindh and Punjab stood normal. Buyers in southern parts of Punjab stations made forward deals while fine grade changed hands at around Rs 7,350 per maund. Buyers’ made deals for all grades put market activity alive in parts of upper Sindh and sellers having fine grades remained on driving seat. Buying in Punjab and Sindh stations changed hands at around Rs 6,000 per maund to 7,375 per maund, traders at Karachi Cotton Association (KCA) said. KCA kept spot rate at Rs 7,000 per maund in order to provide support to sellers holding raw stocks to capitalise on their deals. During the trading session, buyers and sellers in upper Sindh and southern Punjab stations remained entangled in price war and bargaining rates stood at around Rs 5,975 per maund to Rs 7,175 per maund. Textile sector is in need of second and fine grade of lint and near future import would fulfil their quest. More than 900 bales changed hands with more than 60 percent of Punjab’s share in trading. New York March Futures 2018 stood at around 82.29 cents per pound, May Futures 2018 at 82.80 cents per pound and Cotlook A index stood around at 89 cents per pound.
Source: Daily Times
NEWS DESK: A denim factory in Karachi could hold the key to reviving Pakistan’s ailing exports, said a report published by Bloomberg. With many retailers shifting textile orders to cheaper and more timely suppliers in rival Bangladesh and Vietnam, Pakistan’s manufacturers have long-suffered from power cuts, an expensive exchange rate and what they claim is government indifference. Yet while hundreds of factories have shut down in recent years, shedding more than half a million jobs, Artistic Denim Mills Ltd., which operates as a one-stop shop turning cotton into jeans, is doubling production and has built a new factory in Pakistan’s financial hub. Chief Executive Officer Faisal Ahmed is bullish and supplies retailers such as Zara and Next Plc. He points to one key decision — unlike most industrialists, Artistic Denim started by making garments about 25 years ago instead of just shipping spun yarn or fabric. Now “we have been able to get many orders that used to go to Turkey earlier,” he said at his office in an industrial area. The move shows a rare sign of promise in a stagnant industry that has been part of Pakistan’s economic backbone for decades. Pakistan is among the top five growers globally and cultivated has been cultivated on these lands for at least 5,000 years. Typically Pakistan has been mostly converting cotton into thread and fabric that is shipped East to other Asian countries, which then manufacture the final garment.
Homegrown Cotton
With foreign reserves declining ahead of elections in July, Pakistan’s government is under pressure to revive its exports and avoid going to the International Monetary Fund for what would be its 13th bailout since 1988. The textile industry is key as it accounts for more than half of all overseas shipments. Pakistan has lost market share with exports growing 27 percent during 2005 to 2016, falling behind Bangladesh’s 276 percent increase and 445 percent in Vietnam, according to World Bank data. India is the second-largest apparel exporter in South Asia after Bangladesh. Nonetheless, Pakistan still has the advantage of homegrown cotton that it can capitalize on, unlike Bangladesh and Vietnam. Pakistan is targeting its first export jump this financial year after giving tax breaks to exporters, in a bid to reverse a three year slump with value added products like denim getting the biggest incentives, Mohammad Younus Dagha, secretary at the Commerce Ministry, said in an November interview. Textile industrialists have continually lobbied the government for subsidies and incentives. Yet despite last year’s measures, Prime Minister Shahid Khaqan Abbasi said in an interview this month that no further giveaways to the industry were likely before the elections. “Bangladesh and Vietnam governments are giving huge support to industries, unlike ours,” said Ahmed Lakhani, analyst at Karachi-based JS Global Capital Ltd. “The tax breaks are a good step, but we need to decrease electricity tariffs and keep a check on wages. I don’t think we will give all those incentives and compete globally.” Some textile executives say that they have been lazy and have fallen behind market trends, opting instead to pester the government for subsidies. “About 95 percent of Pakistani exporters mentality is waiting for a customer rather than going out and finding them,” said Majyd Aziz, president of MHG Group of Companies in Karachi. “In the global world, you need integration and economies of scale, if you do that, you make money.” Artistic Denim is one of them. It has chased premium brands in Los Angeles that pay more for smaller deliveries to keep changing designs rather than bulk orders. The company said this will help revenues reach as much as eight billion rupees ($72 million) in year ending June with new garment production capacity increasing sales. In Karachi, the firm’s shares rose by the 5 percent limit at 11 a.m. with volumes at their highest in almost a year. “Pakistan’s denim is on an upward trend, despite the larger textile industry being in trouble,” said Ahmed. “Pakistan has a tremendous opportunity.”
Source: Samaa TV18
Czech textile and clothing companies last year recorded their best results in the past 12 years, the daily Hospodářské noviny wrote on Thursday. In 2017 Czech companies sold fibres, textiles and clothing worth 55.3 billion crowns, according to a survey carried out by the Czech Association of Textile, Clothing and Leather Industries (ATOK). The results were fuelled mainly by the fast growing economy and by the focus on technical textiles, which are used in the automobile industry, agriculture, health care and aviation. “The growth suggests a close interconnection between the textile industry and other fields. It is clearly driven by the auto industry, which uses textiles for the production of many of its components,” the head of the Czech Association of Textile, Clothing and Leather Industries, Jiří Česal, told the daily Hospodářské noviny. At the moment, technical textiles make up two thirds of global textile production and experts say their significance will continue to grow. Jiří Česal, photo: Czech Association of Textile, Clothing and Leather Industries. According to Jiří Česal, seven out of the country’s top 10 textile producers manufacture technical textile. The Czech Republic’s number one is Juta, which produces unwoven textiles for the building industry and agriculture, followed by nappies producer Pegas Nonwovens. According to the study carried out by the Czech Association of Textile, Clothing and Leather Industry, Textile and Clothing Associations last year recruited new employees and increased their salaries. Wages increased on average by more than seven percent, with workers in textile companies achieving an average wage of 24,000 crowns. Just like in other fields, however, Czech textile and clothing companies are facing a serious lack of workers. Czechoslovakia used to be a textile and clothing industry power, but in the 1990s most of the country’s companies went bankrupt due to cheap imports from Asia. Many abandoned textile factories can still be seen in the border regions of the Czech Republic.
Source: Radio Prague
Over 200 exhibitors with a wide range of products including bedding and towelling, carpets and rugs, table and kitchen linen, machinery and technology, and design and styling will gather in China to participate in the Spring Edition of Intertextile Shanghai Home Textiles during March 14-16, 2018. The event will give a boost to China’s home textile market. The three-day show allows industry players to get a head start during China’s peak home textiles finished products sourcing season, which is growing strongly. Contributing to over half of the sales of home textiles, the bedding products market in China grew 52.5 per cent from 2011 to 2016, reaching $18.3 billion. Since the market is expected to grow 5.9 per cent annually from 2017 to 2021 and reach $ 24.3 billion, there lie abundant opportunities for the industry to capture. There will be a machinery equipment zone to offer up-to-date textile solutions. Competition in the textile market has always been fierce, but companies can stand out by utilising the latest machinery and technology. The Machinery Equipment Zone gathers some of the industry’s top suppliers with world-class expertise to present a variety of textile solutions. Richpeace Group from Hong Kong which specialises in sewing and cutting machines is one of the highlighted exhibitors in the zone. It will showcase its High Speed Fully Automatic Quilt Production line that includes a fibre line, high speed quilting machine and four-sides sewing machine. The system can also be equipped with a binding machine, hemming machine, folding and packing system as well as a hanging system to form a fully automatic production line. The Swedish firm Eton Systems is another supplier at the fair. Its flexible material handling system – Eton Systems 5000 – has helped thousands of companies around the world to increase their efficiency, save floor space and improve the management of their entire production process. Apart from machinery, buyers can also expect to find all kinds of finished products presented by a number of domestic and overseas big names. These include seven domestic pavilions showcasing specialised products from their regions, and will house famous Chinese companies such as Cotton. Field Home, A-Fontane and Mercury Home Textiles. The presence of a number of foreign suppliers will also further enrich the fair’s diversity. Cotton USA, for instance, will showcase its new, innovative home textile technologies that can be utilised in towels, bed linen, pillowcases and bathrobes. Bemberg, the eco-friendly fibre made from cotton linter will be featured in Asahi Kasei Corporation’s booth at the show. Intertextile Shanghai Home Textiles – Spring Edition 2018 will be held concurrently with four other textile events: Intertextile Shanghai Apparel Fabrics – Spring Edition, Yarn Expo Spring, CHIC and PH Value.
Source: Fibre2Fashion
