India to become self-sufficient in silk production in four years. To increase silk production Govt has pumped Rs 690 crore: CSB Initiative is part of ₹ 2161.68 crore package for silk industry approved by the Cabinet. The Textile Ministry will set up an inter-ministerial committee and allocate it a sum of ₹ 1,000 crore to promote research & development (R&D), technology transfer and training in the sector, Textile Minister Smriti Irani said at a press conference. The effort is part of the ₹ 2,161.68 crore `Integrated Scheme for Development of Silk Industry’ approved by the Cabinet on Wednesday for three years from 2017-18 to 2019-20. “We believe that R&D effort shouldn’t stay restricted to the Textile Ministry. That is why for the first time, under the chairmanship of Textile Secretary, an inter-ministerial committee will be set up where, with the help of other ministries, about ₹ 1,000 crore will be made available for R&D, technology transfer and training,” Irani said. R&D is one of the four components of the scheme. According to the approved plan, R&D projects pertaining to disease resistant silkworm, host plant improvements, productivity enhancing tools and implements for reeling and waving etc. will be done in cooperation with other Ministries such as Science and Technology, Agriculture and Human Resource Development (HRD). The Minister pointed out that under R&D, a lot of focus would also be on training, transfer of technology and IT initiatives. “For only technology transfer, we plan to train 50,000 people,” the Minister said. Other components of the scheme include setting up seed organizations and farmers extension centres, coordination and market development for seed, yarn and silk products and having a Quality Certification System in place. A Quality Certification System would require creating a chain of silk testing facilities, farm based & post-cocoon technology up-gradation, and export brand promotion. The scheme aims to achieve self-sufficiency in silk production by 2022. To achieve this, production of high grade silk in India is expected to reach 20,650 tonne by 2022 from the current level of 11,326 tonne thereby reducing imports to zero.
Source : Business Line
There's a lot of good news on the export front. To begin with, the latest trade data released by the Ministry of Commerce and Industry Exports shows that exports have exhibited positive growth of 4.48 per cent in dollar terms in February 2018 (year-on-year). In fact, exports have been on a positive trajectory since August 2016, barring a temporary setback in October 2017. And today, Union Minister Suresh Prabhu, announced that the government is working on a new strategy that seeks to boost the services sector while providing an enabling environment to the industry to increase the country's exports. According to him, the services sector will play a significant role in pushing the country's economic growth and the industry must focus on delivering services of global standards. "In last few months, we are seeing exports registering growth. We are targeting to ensure that exports are not only [of] traditional products, but new products are also added to the basket," said the commerce and industry minister on the sidelines of inaugurating the CapIndia 2018 event in Mumbai. He added that the share of services is likely to grow faster than merchandise exports, thus raising the total exports from the country. The government apparently has already identified 12 service sectors as 'Champion Services' - including IT, tourism and hospitality - and approved a whopping Rs 5,000 crore to promote them. "We have prepared an action plan for each of these sectors to promote them domestically as well as globally," he explained, adding that this decision will drive the growth of the services economy in India. Then there is the country's booming chemical sector that, as Prabhu pointed out, needs to create a capacity to meet exports demand. According to Satish Wagh, Chairman of CHEMEXCIL, (as the Basic Chemicals, Pharmaceuticals and Cosmetics Export Promotion Council is popularly known), the sector is expected to double to $300 billion by 2025, clocking an annual growth rate of 15-20 per cent. "To achieve this, the government is also working on a draft chemical policy that will focus on meeting the rising demand for chemicals and reduce imports," he added. Wagh is also looking forward to tapping opportunities at the three-day expo that kicked off today, which will feature over 700 manufacturers/exporters showcasing a range of products. Over 10,000 business visitors are expected to attend the event along with 400-odd overseas buyers, according to its website. "The expo will help us tap immense opportunities for growth, which exist in the fields of speciality chemicals, polymers and agrochemicals industries, as [the] Make in India initiative further facilitates growth and investment," said Wagh. Prabhu claimed that the ministry is also in the process of formulating an agri-export policy, which has been put in the public domain to seek stakeholders' views. Meanwhile, the aviation ministry is preparing a plan for providing air cargo support to agricultural hubs to promote farm exports. The minister added that the UAE and Saudi Arabia have shown a keen interest in investing.
Source: Business Line
With groundwater levels dipping by the year, it has become imperative for the textiles industry to implement systems and design processes that cut down on the use of water in production. Recycling and reuse of wastewater also needs to be taken up on a bigger scale in textile manufacturing, feel industry leaders. Speaking with Fibre2Fashion on the occasion of International Water Day, Abhishek Bansal, Head-Sustainability, Arvind Limited, said, “With advancements in technology, the textiles industry should try and explore areas wherein it can use recycled water. We must also look for platforms wherein water sustainability practices are being showcased which can thereby help many small and medium scale industries to take up similar initiatives.” “The textiles industry should come forward and work together to adopt means which promote sustainable use of water in the production processes. Experts from machine manufacturers, chemicals and auxiliary’s suppliers, and wastewater treatment should also be made part of this process. This knowledge sharing platform will spread awareness and promote innovations,” said Chetan Tare, Project Manager, Anubha Industries. Echoing similar views, Mustang Socks & Accessories co-founder Lubeina Shahpurwala felt wastewater management should become the primary objective, perhaps a mandatory practice for every manufacturing unit in the textile industry. “We have to mutually work towards the cause to make a difference.”
Source: Fibre2fashion
The rupee today rose by 10 paise to close at 65.11 against the US currency on foreign fund inflows amid the Federal Reserve sticking to its outlook of three rate hikes this year. The rupee opened at 65.12 a dollar and touched a high of 65.0250 in day trade after a less hawkish Fed commentary on rate hike in 2018. Foreign funds inflow in stocks and the dollar’s losses against the Asian peers bolstered the Indian currency, a forex trader said. The Fed raised the benchmark lending rate by 25 basis points and projected three rate hikes this year, while forecasting a steeper path of increases in 2019 and 2020. The dollar index was trading at 89.26, down 0.02 per cent from its previous close of 89.28. The greenback extended the losses in Asia, amid reports of a monetary tightening in Europe and Japan and growing trade war fears. The 10-year bond yield was at 7.563 down 0.019, or 0.25 per cent compared to its previous close of 7.582 per cent. Bond yields and prices move in opposite directions. According to the provisional stock exchange data, foreign investors put in Rs 161.11 crore in equity markets on net basis today. The rupee opened on a strong note and surged by 9 paise to 65.12 against the US dollar at the interbank forex market on fresh selling of the greenback by exporters and banks. Later, it gave up some of its gains to touch a low of 65.1575 and a high of 65.0250 in day trade but closed at 65.11 per dollar, a gain of 10 paise or 0.15 per cent over the previous close 65.21. Meanwhile, the benchmark Sensex fell by 129.91 points, or 0.39 per cent to end at 33,006.27, while broader Nifty shed 40.50 points, or 0.40 per cent to settle at 10,114.75 due to renewed global trade war fears and losses in European markets. The Reserve Bank of India fixed the reference rate of the rupee at 65.0622 against the US dollar and 80.3713 for the euro. In the cross currency trade, the rupee closed at 92.0630 from 91.3288 against the pound sterling. It fell against the euro to finish at 80.37 from 79.96 earlier. The Indian unit also edged down against the Japanese yen to conclude at 61.44 per yens from 61.28 yesterday. In forward market today, the benchmark six-month premium payable in August moved down to 115.50-117.50 from 120-122 paise and the far-forward February 2019 contract also edged lower to 230.50-232.50 paise from 237-239 paise yesterday.
Source: The Hindu
VIJAYAWADA: Central MLA Bonda Umamaheswara Rao, along with Zilla Parishad chairperson Gadde Anuradha inaugurated the National Handloom Exhibition, organised by the Department of Handlooms and Textiles, at the Satavahana Degree College, here on Thursday. Weavers and organisations from handloom clusters, across the country, are taking part in this expo, which will conclude on 4 April. Around 63 stalls have been set up for the handloom weavers taking part in the expo. The price range of the products on display, silk sarees and other handloom materials, is Rs 3,000 to Rs 35,000. Speaking on the occasion, Umamaheswara Rao urged people to give an impetus to the handloom sector by using more handloom products, terming those ‘eco friendly’ and a source of employment for lakhs of weavers in the State. He further said, “The expo is held not only to promote the sales of handloom products, but also to create awareness among the public about the uniqueness of handlooms products”. In the present-day scenario the handloom sector in the State is finding difficulty to compete (with other States) and produce quality products, with new designs using the power looms, he said. Traditional Pochampally, Venkatagiri, Mangalgiri sarees, Jaipur printed sarees and bedsheets, sarees with chikan embroidery and Banarasi silk sarees from UP etc, are on display in the expo.
Source: The New Indian Express
On Monday (March 26), BusinessLine, in association with India’s leading commodity bourse Multi Commodity Exchange of India, is organising a conclave in Coimbatore bringing key stakeholders of the physical cotton textile market – spinners, weavers, processors, apparel makers and exporters to brainstorm on the challenges facing the industry and bring out solutions.
The conclave will be held at Radisson BLU, Peelamedu.
The key note speech will be delivered by G Chandrashekhar, an independent commodities expert. The special address will be given by J Thulasidharan, President, Indian Cotton Federation. A panel discussion on the subject – “Is Indian Cotton textiles losing its competitiveness?” will be held with renowned businessmen and experts from the city including – S Dhananjayan, a senior auditor and advisor to Tirupur Exporters’ Association; Prabhu Damodaran, Convenor, India Texpreneurs Federation; S Susindaran, Chief Executive Officer, Kay Ventures; Suresh Manoharan, Secretary, Perundurai SIPCOT Textile Processors Association; R Venkatesan, Deputy General Manager and Divisional Head, Coimbatore-Karur Vysya Bank; and Deepak Mehta, Head – Agri & Energy, MCX. Rajalakshmi Nirmal, Deputy Editor, BusinessLine, will moderate the discussion. The discussion will focus on various issues including rising cost of production, exchange rate risks, government policies and tariff structure and ways to address the challenges in value-addition to create demand for domestic cotton textiles in the global market. Speakers will also highlight how textile mills can effectively hedge their price risk through the commodities exchange platforms to reduce loss.
Source: Business Line
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1390.31 |
USD/Ton |
0% |
3/22/2018 |
|
VSF |
2338.25 |
USD/Ton |
0% |
3/22/2018 |
|
ASF |
2764.83 |
USD/Ton |
0% |
3/22/2018 |
|
Polyester POY |
1387.94 |
USD/Ton |
0.69% |
3/22/2018 |
|
Nylon FDY |
3665.37 |
USD/Ton |
0% |
3/22/2018 |
|
40D Spandex |
6003.62 |
USD/Ton |
0% |
3/22/2018 |
|
Nylon POY |
5972.02 |
USD/Ton |
0% |
3/22/2018 |
|
Acrylic Top 3D |
1635.20 |
USD/Ton |
1.47% |
3/22/2018 |
|
Polyester FDY |
3396.79 |
USD/Ton |
0% |
3/22/2018 |
|
Nylon DTY |
2970.21 |
USD/Ton |
0% |
3/22/2018 |
|
Viscose Long Filament |
1666.79 |
USD/Ton |
1.44% |
3/22/2018 |
|
Polyester DTY |
3831.26 |
USD/Ton |
0% |
3/22/2018 |
|
30S Spun Rayon Yarn |
3049.21 |
USD/Ton |
0% |
3/22/2018 |
|
32S Polyester Yarn |
2161.30 |
USD/Ton |
-0.15% |
3/22/2018 |
|
45S T/C Yarn |
3017.61 |
USD/Ton |
0% |
3/22/2018 |
|
40S Rayon Yarn |
3191.40 |
USD/Ton |
0% |
3/22/2018 |
|
T/R Yarn 65/35 32S |
2717.43 |
USD/Ton |
0% |
3/22/2018 |
|
45S Polyester Yarn |
2322.45 |
USD/Ton |
0% |
3/22/2018 |
|
T/C Yarn 65/35 32S |
2543.64 |
USD/Ton |
0% |
3/22/2018 |
|
10S Denim Fabric |
1.47 |
USD/Meter |
0% |
3/22/2018 |
|
32S Twill Fabric |
0.90 |
USD/Meter |
0% |
3/22/2018 |
|
40S Combed Poplin |
1.26 |
USD/Meter |
0% |
3/22/2018 |
|
30S Rayon Fabric |
0.71 |
USD/Meter |
0% |
3/22/2018 |
|
45S T/C Fabric |
0.75 |
USD/Meter |
0% |
3/22/2018 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.15977 USD dtd. 22/3/2018). The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
On the whole, Hennes & Mauritz AB has had a tough time of late. There have been accusations of racism and cultural misappropriation and, most recently, copyright infringement over the use of a mural by graffiti artist Jason ‘Revok’ Williams as a backdrop to their campaign. Add to that disappointing financial results—shares have dropped 44 per cent over the past year, leaving them trading at a 10-year low—and the picture looks rather bleak. “We’re obviously not satisfied with our performance,” H&M CEO Karl-Johan Persson tells Vogue. “One part is the market transformation that we all know about, but the other part is that we have not performed up to our own expectations. We made some mistakes, but now we’re working to correct them.” Investing heavily in the digital space—improving and expanding the mobile experience—is key, he explains, as is “creating a more inspiring shopping experience.” Beyond the immediate changes to the website and stand alone stores, Persson is also thinking about the future metrics that he believes will play a big role for consumers in the future: “We are working to make sustainability fact-based and consumer-facing, so that when you buy a dress you can see a tag that not only tells you the price and quality, but also [gives you an industry-wide] sustainability score. Then you will see how one company compares to another, one dress to another,” he says. “People have the idea that low prices can’t be good, but I want to break that to say we can have great design, good quality and low prices; we can make fashion accessible for everyone. And we can do it in a sustainable way.” The spirit behind Persson’s ambitions for H&M and H&M Foundation’s aims are echoed by the judging panel, including Vogue India editor at large Bandana Tewari. Wearing a coral pink dress made using a technique developed by one of last year’s winners—the Australian scientist collective behind the denim dyeing project—Tewari is clear about the potential at hand. “Scalability and impact [are key when narrowing down the entries],” she explains. “When you come from a country with a billion people, it is all about numbers. And how fast it can be scaled up, how many lives it can impact and how quickly you can get these choices to people.” To help the winners address those specific challenges, the H&M Foundation, in partnership with consultancy firm Accenture and Stockholm’s KTH Royal Institute of Technology, run a year-long accelerator programme which provides support and access to key industry leaders for the winners. “We don’t see innovation as a competitive edge, but as a collaborative space,” says Erik Bang, H&M Foundation’s innovation lead. “The aim is to unlock exponential impact, to do good through the circular economy and have a positive effect. But we can only do that by working together.” Collaboration has been a buzzword of the summit, as former United Nations Deputy Secretary-General Jan Eliasson asserted in his keynote speech: “Nobody can do everything, but everybody can do something.” As well as a coveted spot on the accelerator programme, the five innovations get a share of the €1 million grant—portion sizes are decided by an online public vote. Here are the winning entries set to redesign the future of fashion:
Crop-A-Porter
This year’s first place winner, Crop-A-Porter, uses leftovers from food crop harvests—like oilseed flax, hemp, sugarcane, bananas and pineapples from China, North America and soon Costa Rica—to create its sustainable bio-textiles. Crucially though, they do so by adding value for the communities they work with. “We’ve created what we call the agraloop,” explains Isaac Nichelson, the CEO of the American-based company. “[This is a] regenerative system that uses plant-based chemistry and plant-based energy to upgrade the fibres whilst enriching the local communities and creating a new economic system.” As the first place winner of the public vote, Crop-A-Porter won the lion’s share of the grant (€300,000).
The Regenerator
“We are looking at the textiles that are already out there and [how to] use them as valuable material resource rather than as waste,“ explains Lisa Schwarz Bour who, coming in second, won €250,000 of prize money. Simply put, they want to render the fabrics already in circulation—including popular mixed fabrics like cotton and polyester blends—into separate and totally reusable fibres. The Regenerator—the first Swedish innovation to claim a spot in the H&M hall of sustainable fame—uses an eco-friendly chemical process to separate blended materials and make two fully usable textile fibres.
Algae Apparel
The concept of feel-good fashion is nothing new, but clothes that improve the quality of your skin as you wear them? Now that’s a revelation! Algae Apparel’s bio-fibre can be engineered to release different kinds of antioxidants, vitamins and other nutrients depending on the type of algae used, but perhaps more importantly, tackles issues raised by conventional fabric production, namely the large amounts of water required in the production of cotton, and the pollution caused by textile dyeing. “We aim to be the green engine of the fashion revolution,” explains Renana Kelbs, one half of this father-and-daughter team. Like the other third place winners, Algae Apparel gets €150,000 of the grant money.
Smart Stitch
The disassembling of garments is so labour intensive that it rarely happens, but Smart Stitch has made the recycling process easier with its special thread, which melts away when exposed to temperatures of 266 degrees. “When making a new product, most of the time you combine different materials to meet different requirements,” the company’s founder, Cédric Vanhoeck’s explains. “A shoe is a nice example. You need different materials for different parts, but if you take a recyclable sole, and a recyclable top, and stitch them together, you end up with an unrecyclable shoe.”
Funghi Fashion
Grown from mushroom roots, Funghi Fashion uses 3D-printing technology to make fashion as close to zero-waste as possible. Aside from reducing the amount of water used in the manufacturing process; the need for transporting raw materials from one place to another, and the amount of waste product—the garments have a unique benefit, which the Funghi Fashion’s founder Aniela Hoitink points out: “When you are fed up with your T-shirt, you can just bury it.”
Source: Vogue
Pakistan’s Textile Industry and Textile products no doubt possess great quality and potential for growth, Pakistan Textile Exports, and clothing products saw an increase of 8 percent on year-on-year basis according to Pakistan Bureau of Statistics (PBS). During the first eight months of the current fiscal year 2017-18, the textile exports were up by 8 percent as compared to the previous year’s figures, total exports have reached $8.8 billion. According to a spokesperson from the textile industry, the significant increase in exports comes after the cash subsidy provided by the government in order to accelerate industry’s exports. The timely release of refunds and better energy supply also contributed towards the improvement which resulted in more production and more exports eventually, he added. China interested in upgrading Pakistan’s textile machinery. One of the key drivers in this growth was value added garments sector, according to the statistics, ready-made garments jumped to 13.3 percent in the last eight months as compared to the corresponding period last year, there was also 12.8 percent increase in the quantity. Similarly, knitwear exports sprouted up to 13.3 percent and 2.7 percent increase in quantity was also witnessed during the period. Bedwear exports were up by 4.5 percent in value and 2.1 percent in quantity. However, towel exports were decreased by 0.4 percent in value but the quantity of exports was also increased by 1.9 percent. In terms of raw commodities, the exports of cotton yarn were increased by 1.8 percent and yarn other than cotton was jumped by 31.9 percent. Raw cotton exports were up by 38 percent year-on-year basis. The non-textile exports also increase by 17.6 percent.
Source: Fibre2fashion
American Apparel and Footwear Association CEO Rick Helfenbein on President Trump’s tariffs against China and how it could affect his industry. President Trump’s plan to impose tariffs valued at $50 billion on 1,300 Chinese products could deal a huge blow to the apparel industry, American Apparel & Footwear CEO Rick Helfenbein warned. “If it’s a hit on our industry, it’s a hit on the American consumer,” Helfenbein told FOX Business’ Ashley Webster during an interview on Thursday. “It would be devastating for us.” The Trump administration announced the tariffs on Thursday in hopes of curtailing intellectual property theft in Beijing. A full list of products that will be subject to the tariffs will be released within 15 days of Trump’s signing the order. In addition to tariffs, the administration will impose investment restrictions on China and file a case with the World Trade Organization, a direct result of a trade investigation that found that China conducted cyber-theft from U.S. companies. U.S. stocks suffered heavy losses amid investor fears of an emerging trade war between the U.S. and China, with the Dow Jones Industrial Average closing more than 700 points lower, slipping below the 24,000 mark. The markets were also roiled by the resignation of John Dowd, Trump’s lead attorney in the Russia investigation. Helfenbein’s national trade organization, which is based in Washington, D.C., represents more than 1,000 name brand shoes and supports more than 4 million U.S. jobs. Although he’s still uncertain if apparel will be affected by the tariffs, he lamented that the industry already pays 51% of tariffs collected in the country -- but only represents 6% of imports. “We are hoping, we are really hoping, that we are not on this list,” he said. According to the Footwear Distributors and Retailers of America, a non-profit organization, duties in the footwear industry are already among the highest paid -- nearly 11 times higher on average than those paid on other goods. “There could be retaliation, there could be problems in terms of what’s going to be sold, who’s going to buy it, where are we going to buy it, how do you move industries out ofChina,” Helfenbein said. “You can’t imagine what this unleashes. This is just not the right solution to the problem.”
Source: Fox Business
WASHINGTON (Reuters) - U.S. President Donald Trump lit a slow-burning fuse on Thursday to launch long-promised anti-China tariffs, but his actions appeared to be more of a warning shot than the start of a full-blown trade war with Beijing. A presidential memorandum signed by Trump will target up to $60 billion in Chinese goods with tariffs over what his administration says is misappropriation of U.S. intellectual property, but only after a 30-day consultation period that starts once a list is published. Trump gave the Treasury Department 60 days to develop investment restrictions aimed at preventing Chinese-controlled companies and funds from acquiring U.S. firms with sensitive technologies. The waiting periods will give industry lobbyists and U.S. lawmakers a chance to water down a proposed target list that runs to 1,300 products, many in technology sectors. It also will create space for potential negotiations for Beijing to address Trump's allegations on intellectual property and delay the start of immediate retaliation against U.S. products from aircraft to soybeans. "I view them as a friend" Trump said of the Chinese as he started his announcement. "We have spoken to China and we are in the middle of negotiations."
'FIGHT TO THE END'
But his actions provoked a belligerent response from China's embassy in Washington, which vowed Beijing would "fight to the end" in any trade war with the United States. "We will retaliate. If people want to play tough, we will play tough with them and see who will last longer," Chinese ambassador Cui Tiankai said in a video posted to the embassy's Facebook page. Stocks fell sharply on Trump's announcement, with the Dow Jones Industrial Average <.DJI> falling nearly 3 percent. Major industrials that could become targets of Chinese trade retaliation slumped further, with aircraft maker Boeing down 5.2 percent and earthmoving equipment maker Caterpillar falling 5.7 percent. In addition to punitive tariffs, Trump's memo also directed U.S. Trade Representative Robert Lighthizer to challenge China's technology licensing programs at theWorld Trade Organization. The WTO has repeatedly drawn the ire of the administration but it could provide a resolution that avoids a trade war. The steps are based on the results of USTR's eight-month investigation of suspected misappropriation of American technology by China. U.S. officials say that probe, undertaken through Section 301 of the 1974 Trade Act, has found that China engages in unfair trade practices by forcing American investors to turn over key technologies to Chinese firms. Trump, who earlier this month announced steep tariffs on steel and aluminium imports to the United States, also wants the Chinese to take action that would lower the $375 billion goods trade deficit that the United States is running with China. White House officials told a briefing ahead of the trade announcement that the administration was eyeing tariffs on $50 billion in Chinese goods. They said the figure was based on a calculation of the impact on the profits of U.S. companies that had been forced to hand over intellectual property as the price of doing business in China. There was no explanation of the difference between that figure and Trump's $60 billion. "Many of these areas are those where China has sought to acquire advantage through the unfair acquisition and forced technology transfer from U.S. companies," said Everett Eissenstat, deputy director of the National Economic Council. In addition, Trump will also direct the U.S. Treasury to propose measures that could restrict Chinese investments in the United States, Eissenstat said. China has threatened to target U.S. exports of agricultural commodities, in particular the $14 billion in exports of soybeans. Reaction from U.S. industry groups sought to strike a balance, applauding the president for tackling the persistent drain of U.S. technology to Chinese competitors, but urging negotiations instead of tariffs. "American business wants to see solutions to these problems, not just sanctions such as unilateral tariffs that may do more harm than good," said John Frisbie, president of the US-China Business Council. Despite threats of retaliation, China has been keen to portray itself as a defender of globalization, a message that was reinforced in a call between President Xi Jinping and French President Emmanuel Macron. That said, there is a risk of a mounting cycle of retaliation. U.S. Trade Representative Lighthizer warned on Wednesday that Washington would take "counter measures" if Beijing targeted U.S. agriculture. The biggest risk to world trade over the longer term may not be a tit-for-tat trade war, but the breakdown of global supply chains that feed companies such as U.S. auto giant General Motors Co and Apple Inc. "Tensions are likely to escalate further, even without a full-scale trade war. This could disrupt global supply chains and damage investor sentiment," said Dario Perkins, head of global macroeconomics research at TS Lombard, a London-based economic consultancy. Trump's steel and aluminium tariffs, which are tied to Section 232 of the 1962 Trade Expansion Act, go into effect on Friday. Canada and Mexico have been given initial exemptions from the 25 percent steel and 10 percent aluminium tariffs. Lighthizer told U.S. lawmakers on Thursday that the European Union, along with Argentina, Australia, Brazil and South Korea, would also be exempted. (Additional reporting by Steve Holland, David Chance, David Lawder, David Brunnstrom and Susan Heavey; Writing by David Lawder; Editing by Doina Chiacu, Paul Simao and Grant McCool)
Source: Business Standard
LAHORE - Punjab Governor Rafique Rajwana has express concern over the rising number of closed textile mills in Punjab and stressed for congenial environment so that number of new mills would increase. He termed it a tragedy for the textile mills in Punjab confronting issues from cotton to value added exports. He said the trust deficit between industry and policymakers indicated an alarming situation. He also assured the textile millers of taking up the Punjab textile industry issues with Prime Minister Shahid Khaqan Abbasi. “I fully understand your problems and would join you to get them resolved from the federal government,” he added. He was addressing the textile millers during his visit to the Aptma Punjab Office. Representatives from Pakistan Textile Exporters Association, Pakistan Hosiery Manufacturers and Exporters Association, Power Loom Owners Association and Pakistan Sweater Exporters Association were also present on the occasion. Aptma Faisalabad members joined the meeting through video link. Referring to the damage caused to the cotton belt area in the hands of sugar industry, he said, no industry should flourish at the cost of another. The governor said the textile industry should be allowed to import cotton from all sources including Afghanistan to meet prevailing shortage. He said Aptma has been agitating for their demands over the four years and time has come to make textile industry competitive in the region by removing disparities in the energy cost. “A prosperous textile industry will result into political benefits with the rise in jobs,” he added. Mentioning about the issue of sales tax refund, he lamented that some of the departments were also misusing their authority while dealing with industry. Earlier, Aptma Chairman Aamir Fayyaz made a detailed presentation on the existing state of affairs in the Punjab-based textile industry. He said the regional competitors were competing Pakistan ahead due to the timely interventions by their governments. The presentation also highlighted a huge difference in cost of production in Pakistan compared to the regional countries. He said the government should immediately address the energy cost issues by ensuring uniformity in prices, i.e., electricity at Rs7 per kWh and LNG at Rs600 per MMBTU. He also sought an immediate release of stuck sales tax refunds of the industry. Aptma leader Gohar Ejaz said a lack of trust between the policymakers and industry has hampered growth in industrial sector. Rather, he added, the industrial capacity worth $4 billion has been closed down in Punjab. He further pointed out that the government has not fulfilled its commitment towards the release of Rs180 billion package. “Only two months of the present government are left and the textile industry is still awaiting for the solution of its issues,” he said. Aptma Punjab Chairman Ali Pervaiz also spoke on the occasion. Members from various associations spoke over the terrible state of affairs. Those who had closed down their units stated that they have advised their grandsons to never think of setting up industry in the country.
Source: The Nation
Pakistan's textile exports shot up by 7.2 per cent to $1.1 billion in February as against the same period last year, officials said. India and Bangladesh are the main buyers of Pakistani cotton. The increase in Pakistan's overall textile exports was attributed largely to the surge in non-value added exports which were bolstered by 17.4 per cent in February against the same month last year and 13 per cent when compared with the previous month (January) to $299 million, the Pakistan Bureau of Statistics (PBS) said on Thursday. Pakistan's cotton yard exports posted a tremendous growth of 54.7 per cent in February. Experts believe Indian and Bangladeshi textile mills were the main buyers of Pakistani cotton. The margins of textile sector also increased due to the depreciation of Pakistani rupees against the dollar by 10 per cent cumulatively from June last year.
Source: Business Standard
Workers at Jabp Jiawei Myanmar garment factory go on strike to demand immediate payment of the new minimum wage. Zaw Zaw Htwe/The Myanmar Times. Over 500 workers of Jabp Jiawei Myanmar garment factory in Hlaing Tharyar, Yangon, organised a strike on Thursday demanding payment of the new minimum wage of K4800 (US$3.60) starting this month, according to strikers and factory officials. “We are asking for implementation of the minimum wage of K4800 since it was announced already and only needs to be approved by the government,” Ma Sandar Myint, the leader of the protest, told The Myanmar Times. The workers said factory officials are refusing to pay the new minimum wage. The striking workers said they want the new minimum wage to be paid starting in March since other factories in the township have already started paying the new minimum wage in line with the increase in commodity prices. “We just want the implementation of the new wage. We are not protesting. We demand what should be given to us,” Ma Sandar Myint said. The workers said they had negotiated with factory officials to raise the minimum wage gradually starting in March if the factory could not afford to pay the full new wage of K4800 this month. Ma San Thawdar Myin, the factory’s assistant manager, said the company has promised the workers it would pay the new minimum wage once the government approves it. “We can pay the new minimum wage once officially approved by the government. But they want the new minimum wage to be implemented right now,” she said. Factory officials said township labour department officials could not give them the exact date when the new minimum wage would come into force. Ma Thaw Thaw, one of the striking workers, said they have sought the intervention of the township labour department to resolve the dispute. “The workers want to be paid the new minimum wage because they have to return to their home towns during the Thingyan festival holidays,” she said. Workers said they will get 10 days off for Thingyan holidays because they worked five extra days during their days off last month. The government has limited the official holiday period to five days. The Jabp Jiawei Myanmar garment factory opened in industrial zone (2) in Hlaing Tharyar of Yangon eight months ago. The factory says it has 900 workers, of which more than 500 are on strike. The National Minimum Wage Committee approved K4800 as the minimum daily wage on March 5. But according to regulations, the approved wage needs to be confirmed by the Union president to come into force. All members of the committee hope the new minimum wage of K4800 will come into force starting in April, but they haven’t yet received confirmation from the president. The sudden resignation of President U Htin Kyaw on Wednesday could lead to delay in its approval.
Source: Myanmar Times
KARACHI: The lint prices stood firm during moderate trading session. Around 1,800 bales changed hands. The Karachi Cotton Association (KCA) spot rate remained intact at Rs 7,500 per maund with forward deals for better lint in focus. The buyers in Sindh and Punjab stations remained eager for quality lint while deals for second grade of cotton changed hands between leading buyers and sellers on premium price around Rs 7,225 per maund. The second grade of lint for blending purpose would remain in higher demand along with growing demand for better grades of lint on slightly higher price by the textile sector. Slow pace of seed cotton arrival kept activity of ginning sector dull while forward deals matured at around Rs 6,900 per maund to Rs 7,050 per maund. The better quality of lint on back of growing demand would entice buyers to pay premium price after some trading sessions. Ginners withholding fine lint were steadfast and are not seemed to bow down before the buyers’ offers, as they were confident for price that would not go below spot rate. Domestic buyers have started accepting a bit higher prices as the leading buyers made forward deals at around Rs 7,475 per maund. There were signs that textile sector would further to import quality cotton in near future for meeting demands. Ginners of Punjab remained reluctant offering quality cotton to buyers below Rs 7,575 per maund while ginners of Sindh offered raw lint to the buyers around Rs 5,975 per maund, depending on trash level. Around 200 bales of Multan changed hands at Rs 6,975 per maund, 200 bales of Sanghar at Rs 7,100 per maund, 200 bales of Bahawalpur at Rs 7,025 per maund and about 200 bales of southern Punjab at Rs 7,250 per maund. Last night New York May Futures 2018 contract closed at around 84.13 cents per pound, July Futures 2018 contract at 84.18 and Cotlook A Index was hovering around 91 cents per pound.
Source: Daily Times
By 2025, the fashion industry may not continue to remain the second-most polluting industry, according to Creativity Lifestyle and Sustainable Synergy (CLASS), a unique multi-platform hub based in Milan. In 10 years’ time, everything will have the responsible factor integrated, and new technology such as ‘formation-based’ will be more advanced. On the occasion of International Water Day on March 22, CLASS, with support from the Council of Fashion Designers of America (CFDA), has invited fashion industry leaders, designers and members of the press to celebrate an evening of smart innovation. The experience will examine the four key areas that are vital to CLASS’s business philosophy: heritage-smart innovation-circular economy-design responsibility. “In advocating significant reductions in water and energy usage and CO2 emissions, CLASS’s message has always been one of consistency. But now, with today's customers becoming increasingly mindful in terms of the environment, the timing has never been better in bringing awareness to the ways that responsible sustainabilitycan be incorporated, in an authentic way, into a fashion or lifestyle brand, thereby increasing the bottom line without compromising design integrity,” Giusy Bettoni, who founded CLASS in 2007, told Fibe2Fashion. Predicting about the textiles and fashion industry in 2025, Bettoni says, “First of all, I hope the fashion industry will not be the second-most polluting industry. In 10 years’ time, everything will have the responsible factor integrated, and we will be in an era of the circular economy. So, we will be in an industry that will not debate only about ingredients and better production, but in a technological shape where production will not be what it used to be. New technology such as ‘formation-based’ will be more advanced and CLASS will look at the next steps of innovation.
Source: Fibre2Fashion
Mayer & Cie, the Albstadt-based circular knitting machine manufacturer, will be exhibiting three machines at this year’s ITM 2018, the 34th international textile machinery fair, which will be held from April 14 to 17, 2018, in Istanbul, Turkey. The German company’s aim is to highlight its products and its corporate philosophy in a convincing display. The company will show the Relanit 3.2 HS and the D4 2.2 II, both of which are established machines, while the OVJA 2.4 EM is a new addition to the MCT product range in the mattress ticking segment. An info stand will present the latest innovation, spinitsystems spinning, and knitting technology. The Relanit 3.2 HS is one of the company’s most popular models. It is the latest member of the Relanit family of machines that use relative technology. This technology, 30 years old this year, is characterised by gentle yarn processing and high productivity. Knitting pure cotton, the Relanit 3.2 HS with a 30-inch diameter reaches a speed of up to 50 rpm, that is, speedfactor 1,500. Also, when knitting elastomer yarns, the machine is both impressively fast and highly reliable. Thanks to its many fields of application and exceptional fabric quality, D4 2.2 II enjoys wide international popularity, too. It offers highest quality for rib, interlock and 8-lock-structures. Using an especially developed conversion kit, D4 2.2 II produces spacer fabric of a unique quality. The range of applications for which D4 2.2 II produces the desired fabrics include underwear, sports- and leisurewear just as much as lining for shoes and decoration. The OVJA 2.4 EM will be on show in a raised frame, for fabric rolls of up to a diameter of 600 mm. This is due to mattress cover fabrics’ generally higher material thickness. The OVJA 2.4 EM is a new machine designed especially for the mattress ticking market’s changing demands. It focusses on maximising output of standard mattress cover fabrics. The spinitsystems team will have an info stand in Istanbul to present its innovation and explain the opportunities that it opens up for customers. (GK)
Source: Fibre2Fashion
