The $45 billion target for 2017-18 is likely to be missed by Indian textileand garment exporters as the industry reels under the impact of the rollout of the goods and services tax (GST) and the tariff advantages enjoyed by rivals like Vietnam and Bangladesh, according to the Confederation of Indian Textile Industry (CITI). Terming the fiscal ‘disappointing’, CITI president Sanjay Jain told a news agency that $40 billion is the closest that can be achieved. The country's textile and apparel exports stood at $37.25 billion in the calendar year 2017. Textile and clothing shipments have consistently missed annual targets set by the government in at least the previous three financial years. According to data from the Directorate General of Commercial Intelligence and Statistics (DGCIS) under the commerce ministry, during April-February 2017-18, exports of readymade garments of all textiles stood at ₹97,983.99 crore, registering a 6.25 per cent decline over the same period last year. In February alone, shipments witnessed a steep 13.86 per cent fall. India’s textiles and apparel industry faces a big threat from rising imports due to the removal of countervailing duty and special additional duty in the GST regime, said Jain. The steep up-trend in imports will only worsen the situation going forward, Chinese fabrics are entering India via Bangladesh, he added. The effective duty drawback has also come down for the sector after GST implementation, thereby hitting export margins. The sector expects the government to at least partially compensate the industry in the interim period. As China imposes around 3.5 per cent import duty on yarn from India under the Asia Pacific Trade Agreement (APTA) while offering duty-free access to Vietnam, India's cotton yarn exports to China have decreased by 49 per cent between 2013-14 and 2016-17, while Vietnam's exports to China have increased by 88 per cent during the same period. (DS)
Source: Fibre2Fashion
New Delhi :With the US questioning India’s export subsidies at the World Trade Organisation (WTO), New Delhi has got cracking on identifying alternative ways to support exporters without facing challenges at the multilateral forum. “An informal committee has been set up under the Director General of Foreign Trade (DGFT) to look into the existing export promotion schemes. The idea is to identify the non-compatible provisions and to look for alternatives assuming that India's eight-year phase-out period argument is not accepted,” a government official told BusinessLine.
Industry bodies invited
In a recent meeting, the informal committee invited views from industry bodies FICCI and CII, exporters’ body FIEO and the Commerce Ministry’s think-tank, Indian Institute of Foreign Trade (IIFT), on the matter. “Issues, including problems with the existing export subsidy schemes vis-à-vis the WTO rules, and how other countries were supporting their exporters were discussed,” the official said. The informal committee is likely to be given a formal shape soon through an official notification, and more industry bodies and export bodies could be part of it.
Options being explored
The committee, headed by the DGFT, will look at ways in which a production-based subsidy can be used to replace export subsidies, as these are allowed under the WTO. “We could look at the cluster-based approach, where export-centric clusters could be selected and subsidies given to units based on what they produce rather than what they export,” the official said.
US complaint
The US dragged India to the WTO’s dispute settlement body last month complaining that India’s export subsidies were harming American companies. It identified five popular export promotion schemes, including the merchandise export from India scheme (MEIS) and the export promotion capital goods scheme, as violating the WTO’s Agreement on Subsidies and Countervailing Measures. The US complaint is based on the fact that since India’s per capita Gross National Income (GNI) exceeded the threshold of $1,000 for three years in a row in 2015, as per WTO rules, it is no longer eligible to extend export subsidies. “Although India will argue its case and demand an eight-year phase-out period, which is the same as what was given to developing countries at the time of entry into force of the WTO Agreement in 1995, there is no guarantee that this will go down well either with the US or the WTO,” the official said India has been trying since 2011 to get the WTO to agree to an eight-year phase-out period, but has not succeeded. Technology upgradation schemes, like the existing one for the textiles sector, which provides a subsidy to the entire sector instead of just exporters, are permissible under WTO rules.
Source: Business Line
New Delhi : Buoyed by pick up in demand, India's 12 major ports saw cargo traffic rise by 4.77 per cent to 679.35 million tonnes (MT) during the just concluded fiscal, as per ports body IPA. These top ports under the Centre had handled 648.39 MT of cargo during 2016-17. Increased demand from various sectors including coal, containers, fertilisers and POL (petroleum, oil and lubricant) was the main reason behind the growth in traffic, as per Indian Ports Association (IPA) data. Coking coal volumes handled by the 12 ports surged by 8.62 per cent to 50.59 million tonnes (MT) during the last fiscal while container volumes too rose 8.08 per cent. Fertiliser volumes saw a growth of 7.22 per cent during the fiscal. As per the figures, Kandla port handled the highest traffic volume at 110.09 MT during 2017-18, followed by Paradip Port (102.01 MT), JNPT (66 MT), Visakhapatnam (63.53 MT) and Mumbai Port (62.82 MT). Chennai port handled 51.88 MT of cargo while Kolkata Port including Haldia handled 57.88 MT. Volume of seaborne cargo is essentially in the nature of derived demand and is mainly shaped by the levels and changes in both the global and domestic activity. India has 12 major ports -- Kandla, Mumbai, JNPT, Marmugao, New Mangalore, Cochin, Chennai, Ennore, V O Chidambarnar, Visakhapatnam, Paradip and Kolkata (including Haldia) which handle approximately 61 per cent of the country's total cargo traffic.
Source: Financial Express
The Chennai Port Trust here has taken up dredging activities in order to attract large number of cruise vessels and has received Rs 70.24 crore as grant from the Tourism Ministry for the purpose, a top official said. "We have been taking up dredging activities for receiving large cruise vessels. In fact, a maiden cruise vessel 'Viking Sun' was handled (by us) on April 1," he said. Elaborating, he said, the existing cruise terminal has been upgraded and modernised to international standards following the grant received from Ministry of Tourism. The Port Trust is ready to receive the Cruise Vessels with all facilities required, he said.The 'Viking Sun' cruise vessel with 845 tourists on board was handled at the Chennai Port Trust en route to Cochin. He said the Port Trust was also awarded the 'Best Tourist Friendly Harbour Award' during the Tamil Nadu Tourism Award ceremony held last month based on the State-of-the-Art cruise facilities available at the Port. It was in recognition to the efforts taken by the Port to encourage tourism through cruise vessels, he noted. On the initiatives taken to transport containers through ships to Puducherry, he said the Port Trust undertook first ever coastal movement of containers to neighbouring Union Territory in February. "The movement of about 1,500 to 2,000 containers per week between Chennai and Puducherry commenced on February 23. Due to this initiative, there will be reduction of trucks carrying containers on road," he said.
Source: Business Standard
The Indian textiles ministry has received 56 proposals during the last three to four years from Chhattisgarh state government under the National Handloom Development Programme (NHDP) out of which 51 were approved with a projected cost of ₹16.68 crore. Around 940 weavers in the state benefited under the Integrated Handloom Development Programme during 2016-17. Under the Prime Minister Employment Generation Programme (PMEGP), 8,500 persons were provided employment in Chhattisgarh in the textile sector during the past eight years, an Indian daily reported quoting senior government officials. Under PMEGP, sponsored by the Khadi and Village Industries Commission (KVIC) of the central government, projects costing up to ₹25 lakh is sanctioned for setting up of cottage industry. The loan availed from the bank has to be returned over a period of seven years. Around 119 cottage industry units were established in the state with an investment of ₹1.78 crore under PMEGP during 2015-16, according to the officials. The Chhattisgarh Khadi and Gramodhyog Board runs the project in Chhattisgarh. The Chhattisgarh government has also established apparel training and designing centres in Bilaspur, Raipur, Bhilai and Rajnandgaon.
Source: Fibre2fashion
BATHINDA: Even as over 90% cotton crop has arrived in the markets and new crop season has already set in, the estimate for cotton arrival has been lowered fifth time for Punjab. On the other hand, the estimates have been revised upwards in the neighbouring states of Haryana and Rajasthan. A loss of another over 30,000 bales of cotton is likely in Punjab as per the revised estimate of the arrival of fibre crop in state as against the earlier estimate in the beginning of March 2018. In the revised estimates, the crop arrival in grain markets of Punjab has been lowered at 9.67 lakh bales (1 bale = 170 kg) by cotton trading body Indian Cotton Association Limited (ICAL). The ICAL keeps tab on cotton arrival and price fluctuation in three states of Punjab, Haryana and Rajasthan and records sales. Initially, the estimate was put at 12 lakh bales at the start of the season in October-November 2017 and was lowered to 11 lakh in December and again to 10.37 lakh in January and 9.97 lakh bales at the end of February 2018. In Haryana, the estimates has been revised to 25.47 lakh bales on March 31 up from 24.30 lakh bales expected on February 28 and likewise estimates in Rajasthan has been revised to 23.12 lakh bales up from estimate of 22.14 lakh bales at the start of March. The less arrival in Punjab, as per market watchers, points towards Punjab crop sold in Haryana and Rajasthan. Interestingly, the state agriculture department is not ready to accept that Punjab would lose so much on production. The yield surely has come down slightly from 756 kilogram per hectare lint in 2016-17 to 730 kilogram per hectare in 2017-18 season but this reduction in yield may not lower the production to the extent being estimated by the ICAL, claim Punjab Agriculture department officials. “We need to check whether Punjab cotton is sold in neighbouring states as the arrival in these states has been recorded more than initial estimates whereas in Punjab it has been shown decreasing”, said Punjab agriculture department joint director Sukhdev Singh. Deficient rainfall when it was needed most in July-August and less availability of canal water is cited as the reason behind lowering of yield by the agriculture department authorities. The price of cotton too has come down to nearly Rs 4,850-4,900 per quintal from nearly Rs 5,000 per quintal a month ago. The cotton was sown in 3.82 lakh hectares in 2017-18 season whereas in the 2016-17 the crop was sown in 2.57 lakh hectares. In 2016-17 cotton season 8.57 lakh bales had arrived in grain markets of Punjab. In Haryana, cotton was sown in 6.56 lakh hectares in this season, as against 5.70 lakh hectares in 2016-17.
Source: The Times of India
Exporters in Tiruppur and Karur in India’s Tamil Nadu have started feeling that they are at a disadvantage due to the zero liquid discharge (ZLD) norms stipulated by the state government. ZLD norms were introduced in Tamil Nadu in 2005. In other countries, only ‘treated discharge’ is mandatory, said Indian Texpreneurs’ Federation secretary Prabhu Damodharan. If the ZLD norms are imposed in clusters like Tiruppur, which has no perennial river, or Karur, where the Cauvery river is practically dry, then it should be imposed across all textile clusters in the country, Damodaran told a recent panel discussion in Coimbatore on ‘Is India’s cotton textile losing its competitiveness?’ organised by business daily Business Line recently. Though because of Green Peace, China was forced to say in 2010 that it would not discharge harmful chemicals by 2020, its target is way off from where units in Tiruppur are for even in 2020, a report in the newspaper quoted S Dhananjayan, senior auditor and advisor to Tirupur Exporters’ Association, as saying. China would continue to discharge, but ensure that it is not harmful, he said. The norms have pushed the cost for the units located in both the places by 15 per cent relative to China and resulted in huge price disparity with garments manufactured in Bangladesh or Vietnam, according to experts. Buyers do not pay a penny more for all these efforts, Dhananjayan added.
Source: Fibre2Fashion
Arun Jaitley, economy, demonetisation, GST The Indian economy, which saw temporary disruptions caused by demonetisation and the roll-out of the goods and services tax (GST) over the past two years, will see consolidation in the current fiscal. The Indian economy, which saw temporary disruptions caused by demonetisation and the roll-out of the goods and services tax (GST) over the past two years, will see consolidation in the current fiscal, finance minister Arun Jaitley said on Sunday. In a message to the CII annual session, Jaitley said reforms such as GST, Insolvency and Bankruptcy Code and new income tax regulations are contributing to a better investment climate. “An aspirational India, an impatient India, has accepted the idea of reforms,” the minister said in the message. Jaitley, who was supposed to address the event, couldn’t attend due to health issues. Speaking at the CII event, economic affairs secretary Subhash Chandra Garg said India is aiming to become a $10-trillion economy by 2030, from roughly $2.5 trillion now. He said four kinds of businesses would drive growth – those in manufacturing, start-ups, infrastructure and the small and medium scale sector. He said creating a conducive environment for businesses would rest on four factors: improving the ease of doing business by streamlining procedures and reducing cost of operation; ensuring a stable macroeconomic environment that would entail a stable rupee, benign inflation, adequate resources for the private sector and promoting FDI; access to credit at low costs to spur investments; facilitating skill development and simplifying labour laws. CII president Shobana Kamineni stressed the need for widening of the tax base through lowering of the corporate tax, better allocation of resources and right pricing, and deregulation of labour laws. “We value the assurance of a red carpet but cannot live under fear that it can be pulled out from us at any moment,” she said. She added the industry needs to take risk and build new capacity and massive investment is required in the R&D space, investments in which currently account for just 0.3% of the GDP. Devolution of funds to states should be based on performance indicators: NITI Aayog NITI Aayog vice-chairman Rajiv Kumar on Sunday pitched for building ‘performance indicators’ for the devolution of funds to states, reports PTI. Kumar also said while fiscal irresponsibility is bad, “fiscal fetish” is also not desirable and a delicate balance has to be maintained. “I think it is clear that these (devolution of funds) criteria has to include some performance-based criteria. And therefore, those states which have done better in certain performance should not be punished. I think it is better deal now to start process of building some performance indicators for the devolution of funds and then increase it in phased manner,” Kumar said at the same event. Kumar’s observations come in the backdrop of some states expressing disquiet about the terms of reference of the 15th Finance Commission to decide the sharing of tax resources between the Centre and states. The NITI Aayog was in favour of recommending to the 15th Finance Commission to consider sustainable development goals performance for allocating a small percentage of funds to different states, Kumar said.
Source: Financial Express
Have logo, will wear. Thanks to the craze for selfies, teenagers in India are fuelling the growth of clothing and footwear that have large retro logos as their mainstays. Prompts sportswear giants to focus on heritage-based linesAnd sportswear giants from Adidas and Puma to Asics and Fila stand to gain, as most of their heritage lines that are priced at a premium, sport bold logos from yesteryears. “The influence of social media such as Instagram and Facebook are prompting youngsters to dress up and present themselves in a unique manner,” said Rohan Batra, MD of Fila India. “Most heritage lines of sportswear makers have distinct logos and prints and by wearing them, consumers feel they can stand out in the crowd while posting selfies.” While Fila, a South Korean sportswear maker which was founded in Italy in 1911, is planning to launch standalone stores in India for its heritage products, German sportswear maker Adidas has gone ahead and launched 21 standalone Originals stores. Adidas’s famous Trefoil logo, which was used on all its products before 1997, is now used to brand its premium heritage line Originals. “We have to remain relevant to our consumer when they leave the field of sports,” said Sean Van Wyk, senior marketing director, brand Adidas India. “We target consumers in the range of 14 and 30 years. Most of them are athletes at heart. And with Originals, it’s not that we are repeating our success stories from the past. We are bringing futuristic styles to the table as well.” Along with Adidas, Puma too is betting on the demand for heritage style of clothing. Puma’s India MD Abhishek Ganguly told TOI more than 30% of the German sportswear maker’s revenue in India come from retro theme-based footwear and apparel. The Bavaria-headquartered company just celebrated 50 years of its iconic brand, Suede by launching 50 exclusive sneakers in collaboration with legends from the music world, pop culture and the fashion industry. “Earlier, we were an auditory generation, where words played a big role. But thanks to social media, the world has become more visual,” said brand expert Harish Bijoor. “So anything that enhances the narcissistic attitude of taking selfies, is bound to do well.” Not to be left behind in the race, Japanese sportswear company Asics too is planning to go big with its own heritage brands in the country. It brought in two retro-lifestyle brands, Asics Tiger and Onitsuka Tiger, into India. “We have opened our first Onitsuka Tiger mono-brand store in Palladium Mall, Mumbai and are coming up with two mono-brand stores in Delhi and Chandigarh this year,” said Rajat Khurana, MD of Asics India. “We plan to add a couple of Onitsuka Tiger stores every year for the next few years and aim to double digit Onitsuka Tiger store count in next three to four years, achieving a sizeable growth by 2020.”
Source: The Times of India
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1383.70 |
USD/Ton |
-0.17% |
4/8/2018 |
|
VSF |
2331.27 |
USD/Ton |
0% |
4/8/2018 |
|
ASF |
2775.33 |
USD/Ton |
0% |
4/8/2018 |
|
Polyester POY |
1409.87 |
USD/Ton |
0.06% |
4/8/2018 |
|
Nylon FDY |
3631.71 |
USD/Ton |
-0.87% |
4/8/2018 |
|
40D Spandex |
5867.83 |
USD/Ton |
0% |
4/8/2018 |
|
Nylon POY |
2981.49 |
USD/Ton |
0% |
4/8/2018 |
|
Acrylic Top 3D |
1688.98 |
USD/Ton |
0% |
4/8/2018 |
|
Polyester FDY |
3837.88 |
USD/Ton |
-0.41% |
4/8/2018 |
|
Nylon DTY |
5994.70 |
USD/Ton |
0% |
4/8/2018 |
|
Viscose Long Filament |
1657.27 |
USD/Ton |
0% |
4/8/2018 |
|
Polyester DTY |
3409.69 |
USD/Ton |
0% |
4/8/2018 |
|
30S Spun Rayon Yarn |
3060.79 |
USD/Ton |
0% |
4/8/2018 |
|
32S Polyester Yarn |
2163.17 |
USD/Ton |
-0.07% |
4/8/2018 |
|
45S T/C Yarn |
3029.07 |
USD/Ton |
0% |
4/8/2018 |
|
40S Rayon Yarn |
2331.27 |
USD/Ton |
0% |
4/8/2018 |
|
T/R Yarn 65/35 32S |
2553.30 |
USD/Ton |
0% |
4/8/2018 |
|
45S Polyester Yarn |
3203.52 |
USD/Ton |
0% |
4/8/2018 |
|
T/C Yarn 65/35 32S |
2711.89 |
USD/Ton |
0% |
4/8/2018 |
|
10S Denim Fabric |
1.48 |
USD/Meter |
0% |
4/8/2018 |
|
32S Twill Fabric |
0.91 |
USD/Meter |
0% |
4/8/2018 |
|
40S Combed Poplin |
1.27 |
USD/Meter |
0% |
4/8/2018 |
|
30S Rayon Fabric |
0.71 |
USD/Meter |
0% |
4/8/2018 |
|
45S T/C Fabric |
0.75 |
USD/Meter |
0% |
4/8/2018 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.15859USD dtd. 8/4/2018). The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Nishat Mills Limited (NML) —the Nishat group’s flag ship company is the largest composite textile unit in the country. The conglomerate has half a dozen other group companies listed on the Pakistan Stock Exchange (PSX) which include MCB Bank, Adamjee Insurance, DG Khan Cement Company, Nishat (Chunian) Ltd, Nishat Power, Lalpir Power and Pakgen Power. But with a balance sheet footing of over Rs110 billion and total equity at Rs79bn NML towers above the rest. NML has 236,496 spindles and 795 Toyota air jet looms. The company also maintains a textile dyeing and processing unit; two stitching units for home textile, two stitching units for garments and power generation facilities with a capacity of 130MW. According to the unconsolidated, condensed interim balance sheet at Dec 31, 2017, NML had a paid-up capital of Rs3.5bn, while its reserves stood at Rs75bn. At the last count on June 30, 2017, the company directors, CEO, their spouses and minor children held 25.22pc equity in NML, followed by Modarabas and Mutual Funds with 12.33pc, associated companies, undertakings and related parties with 9.01pc and Insurance companies with 5.68pc of the company stock. The share price movement in NML is closely watched by investors on the stock exchange. Last Thursday’s closing price of NML stock of par value Rs10 stood at Rs163. Most analysts concede that unlike several other shares, the price spiral in NML’s scrip has less to do with speculators and punters and more to do with long-term buying by the fundamental value hunters. Core earnings of the company that accrue from home textile garments (value added segment) contribute around 50pc to the company’s profit before tax. “Higher product prices combined with the rupee devaluation is expected to provide breathing space for the textile dynamics of the company, going forward, although higher fuel prices may somewhat dampen margin accretion” analyst at Inter-market Securities say. However, higher product prices and increased contribution by denim — following the commissioning of the new facility that doubled the existing garments capacity in fourth-quarter 2016 — is a good trigger to higher profitability. A textile producer with a mid-sized plant reckoned that export oriented companies were expected to be the major beneficiaries of the recent rupee devaluation. Textile companies may see a significant increase in revenue as a result of the currency devaluation and offer of rebate at 3-7pc on textile exports. Like most other companies in various sectors of the stock market, NML is in the throes of expansion and diversification. Most analysts concede that unlike several other shares, the price spiral in NML’s scrip has less to do with speculators and punters and more to do with long-term buying by the fundamental value hunters. Mian Umer Mansha, the company CEO, in the director’s report appended to the accounts for the quarter ended Dec 31, 2017 says: “The Company regularly invests to upgrade its power plants for cheap energy sources to meet the increasing demand of its textile manufacturing facilities. “A 10 tonne coal fired boiler installed at manufacturing facility of the company at Bhikhi was commissioned in July 2017. The new captive power plant to cater for spinning production facilities located at Faisalabad Industrial Estate was commissioned in Dec 2017”. Investors are excited over the company’s latest initiative of a venture with Hyundai Motors. For textile companies the government’s export package and expectations of incentives in the upcoming budget 2018-19 are major reasons that could boost earnings. On the flip side, escalating cotton prices and higher furnace oil costs could eat into gross margins as happened in the first half of the year ended March 31, 2017. As fuel and power accounts for 10pc of the total cost of sales and NML still derives approximately 40-50pc of power requirements from furnace oil, its price increase has a direct bearing on the company’s bottom line. In their budget proposals to the government, textile manufacturers have urged that the cost of doing business for the sector be decreased, primarily through reduced electricity tariff, to compete with regional players. Other proposals include timely release of pending refunds; continuation of drawback duties and reduction or elimination of custom duties on import of synthetic yarn and Polyester Stable Fibre (PSF). The recently announced financial results of NML for the 2QFY18 showed unconsolidated earnings of the company at Rs1.9bn which took the first-half financial year 2018 profit after tax at Rs2.7bn. The growth in 1HFY18 earnings emanated from sales revenue rise by 6pc resulting from upsurge in textile exports and increase of 5pc in other income. The company’s total export for the year 2017 stood at a massive Rs37bn. Home textiles being the major revenue contributor, the segment chipped in sales growth of 15pc in 1HFY18, mainly due to volumetric growth as product prices remained depressed. Overall, the textile sector witnessed a collective increase in revenue by 10pc for the 2QFY18 but the benefit did not travel down to the bottom line with profitability remaining at Rs7bn due mainly to increase in finance costs.
Source: Dawn.com
NEW YORK - The Trump administration's trade dispute with Beijing could slam U.S. retailers if tariffs are implemented and lead to higher prices or a shortage of merchandise. President Donald Trump late on Thursday said he was considering penalties on $100 billion in Chinese goods, without specifying which goods he would target. That would be in addition to the proposed tariffs on $50 billion of imports from China that Washington unveiled last week. Trump's first round of $50 billion in tariffs mostly targeted industrial goods and electronic components. The two biggest categories of U.S. imports from China last year were communications and computer equipment, totaling $137 billion according to U.S. Census data. Cellphones and computers, key portions of these categories, were spared from the initial tariffs list. Apparel and footwear, both labor-intensive industries in China, made up a combined $39 billion in U.S. imports. "It's this rhetoric around another $100 billion in tariffs that concerns us because certainly within that next pool of categories it would be hard to exclude apparel and footwear," said Robert D'Loren, chief executive of Xcel Brands Inc, a clothing supplier to Macy's Inc, Hudson's Bay Co and others. "If tariffs were to be introduced on apparel, the very next day I will be on a plane to China and I will be working with my factories, trim suppliers, mills to have each of us assess how much tighter we can work to deal with this," he said. Jonathan Gold, the National Retail Federation's vice president for supply chain and customs policy, also expressed concern over what the new set of tariffs might entail. "Our concern is that the new set of tariffs will turn to more consumer products not on the list and will now include things like apparel, home goods, shoes, all of those basic retail goods coming in from China," Gold said. "As companies make their buying decisions especially for the holiday season, which they do six, nine to 12 months in advance they are trying to figure out how they will do this going forward." Should a trade war ensue, retailers with vast global supply chains may suffer less than others. Costco Wholesale Corp, Walmart Inc, Home Depot Inc and Lowe's Companies Inc, for example, have the ability to acquire products in multiple markets and could move to tap alternative markets such as Vietnam, Bangladesh or Colombia for merchandise. "Many retailers will do just fine, but you have to have other markets where your products can go," said Brandon Fletcher, an analyst at broker-dealer Sanford C. Bernstein. "Let's say you pre-committed six months ago to buying a whole bunch of TVs from China. Now, the tariffs might force that to be a 25 percent higher price. And so you say, ‘OK, I don't want to sell these in the U.S. because I have to pay the tariff.' Well, is there a tariff for China on selling televisions to Mexico? Nope." Walmart has reduced its supply chain exposure to China "quite a bit" over the years as lower cost goods became available out of Vietnam, while Costco has sourcing offices in a number of core markets beyond China, Fletcher noted. In contrast, Best Buy Co Inc depends heavily on China to source smaller TV sets and other low-priced merchandise, and there are no easy alternative supply countries, he said. Best Buy declined to comment on how the tariffs might impact the company's supply chain. At Dollar General Corp, a substantial amount of imported merchandise comes from China, according to a company filing dated March 23. A spokesman for Dollar General declined comment. At Target Corp, China is its single largest source of merchandise. It said in its annual report, the imposition of additional tariffs or duties on imported products could adversely affect its business. "Like all companies, we are monitoring the situation very closely," a Target spokeswoman said. As the cost to make goods in China has gone up over the past decade, many retail and apparel companies have moved some production to Vietnam, Bangladesh and Indonesia. For instance, Gap Inc purchased 28 percent of its apparel in China in fiscal 2013, according to Christopher Svezia, a senior vice president of research at investment services company Wedbush. By fiscal 2017, the apparel chain bought 22 percent of its merchandise in China and 25 percent in Vietnam, he said. "There's definitely been some movement out of China across the board," Svezia said. Gap did not immediately respond to a request for comment. "You can't just say let's go to Pakistan or North Africa. It's not so easy," said Xcel Brands' D'Loren. "It will take years to build out the supply chain. Even if you have the capital you won't be able to find the factories," he said. "Production lines are booked months or years in advance."
Source: Reuters
Donald Trump added he and China's President Xi Jinping "will always be friends, no matter what happens with our dispute on trade." US President Donald Trump on Sunday said he sees an end to the escalating trade dispute with China, after tit-for-tat retaliatory tariffs and threats that rattled markets. "China will take down its trade barriers because it is the right thing to do," Mr Trump said in a tweet. "Taxes will become reciprocal & deal will be made on Intellectual Property. Great future for both countries!" He added that he and China's President Xi Jinping "will always be friends, no matter what happens with our dispute on trade." US stocks plunged more than two percent Friday after Mr Trump warned of tariffs on an additional $100 billion worth of Chinese imports, provoking a strong response from Beijing and fanning fears of a full-blown trade war. Investors were unnerved by the latest broadside from the volatile US president and by the strident response from China, which vowed to stand firm "until the end at any cost." Some global investors have, however, taken solace from signals that the Trump administration may be taking a harsh line as a bargaining tactic towards deal-making with China. In the wake of Mr Trump's decision in March to impose steep tariffs on steel and aluminum imports, primarily to target China, the US on Tuesday published a list of $50 billion in Chinese goods to be hit by tariffs over what Washington says is widespread theft of intellectual property and technology. China retaliated by unveiling planned levies on $50 billion worth of major US exports including soybeans, cars and small aircraft. Mr Trump hit back again late Thursday, instructing trade officials to consider the additional levies on $100 billion in imports.
Dismissing trade war talk
"Rather than remedy its misconduct, China has chosen to harm our farmers and manufacturers," Mr Trump said at the time, calling Beijing's reaction "unfair." So far, only the tariffs on steel and aluminum have taken effect. US businesses, and farm states most vulnerable to Chinese retaliation, have called for restraint. Mr Trump's senior economic advisers on Sunday dismissed talk of a trade war and said the president is serious about imposing tariffs, even as talks continue with China. "We do have constant communication with them," chief economic adviser Larry Kudlow said on "Fox News Sunday." "But in this process tariffs have to be part of it, there's no two ways about it. Then, hopefully, there will be discussions, and hopefully in just the next two months the Chinese will come seriously back to the table." Another adviser, Peter Navarro, told NBC's "Meet the Press" that while "there are discussions" with the Chinese, the US is moving forward on tariffs and investment restrictions against Beijing. "We want fair and reciprocal trade. We want them to stop stealing our stuff. We want 'em to guard intellectual property, not take it from us." Asked on CBS's "Face the Nation" about Trump's Sunday tweets and whether China has given any sign of concessions, Treasury Secretary Steven Mnuchin said "it would be inappropriate for me to comment on what our back-channel discussions are." Mr Trump "has a very close relationship with President Xi and we'll continue to discuss these issues with them," Mnuchin said.
Source: NDTV
In response to the recent US announcement to impose tariffs on steel and aluminum imports, its European allies have warned that they could retaliate, with American products like blue jeans, Harley-Davidson motorbikes and bourbon being possible targets. The European Union (EU) has published a ten-page list of US products that could be subject to tariffs. The list also includes T-shirts, singlets and other vests of wool or fine animal hair or man-made fibres, women's footwear with outer soles and uppers of leather, peanut butter, orange juice, cranberries and household articles of stainless steel, according to a report by the US National Public Radio. Europe will not sit idly while its industry is hit with unfair measures, putting thousands of jobs at risk, European Commission president Jean-Claude Juncker was quoted as saying. The EU is seeking comments from industries affected by the US tariffs.
Source: Fibre2Fashion
Pakistan Hosiery Manufacturers and Exporters Association (PHMA) chairman Dr Khurram Anwar Khawaja has said the benefits of the renewed GSP Plus status can only be harvested by maximum value-addition in finished products rather than exporting only raw materials, which cannot be possible without relaxation in import policies. It is to be noted here that raw cotton exports from the country during eight months (July-Feb 2017-18) of current financial year grew by 38 percent as compared to the corresponding period of last year. Dr Khurram urged the government to take steps to abolish all the duties and taxes imposed on the polyester yarn, enabling the knitwear and sportswear industry to compete with the international market and to earn valuable foreign exchange amidst historic trade deficit of the country. He asked the government to appreciate the role of value-added apparel sector for its potential to harvest maximum benefits of GSP Plus, providing mass employment to the jobless population of the country. He further said that GSP window had opened tremendous opportunities by way of inflow of abundant export orders which the industry would not be able to execute if liquidity problem of the industry is not resolved at the earliest. Dr Khurram further added that billions of rupees against previous Drawback of Local Taxes & Levies (DLTL) Order 2009 since 2011; Incremental DLTL Order 2014-15 since June 2015; Incremental DLTL Order 2015-16 since April 2016; Incremental DLTL Order 2016-17 since April 2017 and DDT under PM Export Package 2017 of exporters are pending with government causing liquidity problems to the exporters in keeping up their export commitment, which must be released immediately to streamline cash flow. The implementation of revised PM package is must for enhancement of the exports at the desired target of the government. The PHMA leader also said that the role of associations must be restored in the DDT Order 2017-18 in view of their productive and contributory services. He asked the authorities that revised notification should be issued in consultation with the real stakeholders, restoring the required clause of 'association role' for the true implementation of PM Package. He said that the total duty and taxes including anti-dumping on polyester yarn regulatory duty, anti-dumping and other taxes account for 30 percent which makes our polyester based sportswear industry more expensive to compete with international market. He said that country’s sportswear industry is majorly based on polyester made garments and now government has imposed 5 percent regulatory duty on imports of polyester yarn and an average 7 percent anti-dumping duty. He said major local manufacturers of polyester yarn manufacture only Draw Textures Yarn which is textures and they don't manufacture polyester Fully Drawn Yarn (FDY) but the anti-dumping duty is also imposed on the FDY which is not locally manufactured. He said that knitwear export industry was adding manifold value to basic commodities like raw cotton and yarn and it alone fetched foreign exchange of more than two billion dollars for the country which was highest of all.
Source: The Nation PK.
JERUSALEM-- Past prosperity is fading in Tel Aviv's garment district, with bustling streets calming down and customers turning away from retail shops to online shopping, especially buying goods from abroad. Many shops are closed, plastered with "For Rent" notices, and for those remain open, there is much time for the owners to drink coffee on the sidewalk. Clients are not rushing in. In the 1970s, Israel's textile industry was at its peak, but it then hit a crisis, employing now only around 10,000 people. The same has happened to Israel's retail industry. Both sectors are competing with a growing appetite of consumers to shop online. The year 2011 is a changing point for the online shopping industry in Israel, when the government gave a value-added tax (VAT) exemption to online purchases from abroad. The VAT exemption is one of the steps taken by the government when hundreds of thousands of Israelis took to the streets against the high cost of living seven years ago. Slowly but surely, Israelis turned to virtual shopping, with a major increase in 2017. Israel's postal company reported a record-breaking dispersal of 60 million packages last year, while the country has a population of approximately 8 million. The number of packages is expected to grow to 100 million annually in the coming years. The postal company recently announced the long-term rental of huge storage space in central Israel in order to cope with the influx of packages. Uriel Lynn, president of the Federation of the Israeli Chambers of Commerce, lamented the situation and accused the government of discrimination. "Whoever buys from foreign sources will not pay ... (VAT), while on the same product bought here locally, he will have to pay VAT, this is discrimination," Lynn said. He believed the policy should be reversed in order to help both the textile and retail sectors in the country. "Private consumption is really one of the real engines of growth in our country," Lynn said, adding that the policy is "not only directly destroying existing business but it really will have its mark on our total GDP." However, other experts viewed the deline in retail and textile industries as a situation where "the economy is moving from more tradition manufacturing ... to more advanced industries ... that provide better employment opportunities," according to Gilad Brand, a researcher from the Taub Center for Social Policy Studies in Israel. Brand added that the government should invest in better education and training for the population so that they will be able to undertake high level jobs in different sectors. "This workgroup has mostly moved from low paying jobs in manufacturing to low paying jobs in trade and services," Brand said. Last month, in attempt to raise awareness to their troubles, several hundred workers from the textile and retail sectors staged a protest against Israel's finance minister Moshe Kahlon. Kahlon's main election promise was that he would lower the cost of living, but for the demonstrators, his policies come at their expense. Avi Shichrur, a shop owner in Tel Aviv, said Kahlon only cares for Amazon and eBay, adding that "40 and 50-year-old businesses here are crashing, people are going home!" Some of the shops posted on their store fronts that say "we are sorry to announce the firing of 400,000 workers." Several Israeli fashion chains have filed for bankruptcy or are in different stages of insolvency. A once robust industry is on a speedy decline, as Israel's economy is booming, and the incentive to help the crippled and shrinking sectors is low. According to an economic survey released by the Organization for Economic Cooperation and Development last month, the Israeli economy "continues to register remarkable macroeconomic and fiscal performance." Unemployment is at an enviable low. Dani Elharar is a small business owner who manufactures clothes. His shop is in Tel Aviv and he has small factories in northern Israel and in the West Bank. As one of the leaders of the protest, he believed that the government must intervene to actively help revive the industry, and Israel cannot survive solely on its booming hi-tech sector. The Israeli government has announced a plan to further eliminate tariffs on consumer goods, a move that will probably be another blow to the textile and local retail industry. Israeli media has also reported that custom fees for packages under the value of 1,000 U.S. dollars may soon be scrapped. The prospects for Elharar and his counterparts are not good. As globalization deeps and e-commerce continues to grow, he and others will need to make the necessary adaptations in order to survive.
Source: Xinhua
Benoh Apparel workers sit outside the abandoned factory in January. Workers from Benoh and three other factories have complained about compensation packages provided to them by the government. Garment workers from four factories have raised concerns over compensation packages prepared by the Labour Ministry and posted on the walls of the factories, claiming the allotments do not match how much was owed to them. In February, the ministry announced that it set aside $4.6 million to pay severance workers at nine garment factories that were abruptly shuttered and whose owners absconded. The announcement came shortly after the Taiwanese owner of Yu Fa garment factory in Por Sen Chey district shut down the factory and fled while workers were listening to a speech by Prime Minister Hun Sen. After announcing last week that workers from four factories – Benoh Apparel, Yu Fa Garment Industry, Great Honour Textile Factory and Chung Fai Knitwear – will be compensated before Khmer New Year, the Labour Ministry posted the compensation amounts at each of the companies on Friday. However, workers have claimed calculations carried out by them and local unions don’t match amounts proposed by ministrys documents. Roeum Saoleap, a worker from Benoh Apparel, said it was disappointing to see that she will receive only $41 after working nine years in the factory, pointing out that she has been on six-month contracts for that duration. Short-term contracts are an issue that continues to plague the sector, with rights advocates saying their overuse violates the Labour Law. Benoh ceased operations in November and gave workers $60 for what they said would be a two-month work suspension, promising to open again in January. But when workers returned, they found the owners had deserted the factory. “Many workers at Benoh now get from $17 to $45 in compensation. Unions helped me to calculate that I get around $3,000, but in the list from the Ministry of Labour I get only $41,” Saoleap said. A fellow worker, Sok Ley, also said there were irregularities in the records and calculations, noting some workers who had left the factory were also listed as receiving compensation. Compensation for workers takes into consideration five factors: unpaid salary, annual leave, indemnity for dismissal, compensation for failing to provide a notification period and other damages. Keoun Chivin, a worker at Chung Fai, said the ministry’s calculations only considered the first three factors, ignoring the last two. She claimed arrears of around $2,600 but is slated to receive $1,504. “We’re disappointed, as what we heard from the prime minister’s promise was that we’ll get all the payment according to the law,” she said. “The ministry responded . . . that the budget the government has is to cover over 4,000 workers so they can’t provide everything accurately and they tried their best to pay that amount.” Labour Ministry spokesman Heng Sour could not be reached. Ath Thorn, president of Cambodian Labour Confederation, said the committee in charge of calculations probably did not get accurate documents for all the workers, especially those on short-term contracts. “That is why we always ask to join in the committee to be involved in the calculation process and provide accurate payment to workers,” he said.
Source: The Phnom Penh post
Kathmandu: The government delegation led by Joint Secretary at the Ministry of Industry, Commerce and Supplies Ravi Shanker Sainju has provided the supporting documents to the Turkish government in a bid to help wrap up the ongoing investigation related to Nepal’s yarn export and help resume trade of the commodity. Alleging that Chinese yarn is being circumvented to Turkey via Nepal, the Turkish government has suspended the generalised system of preferences (GSP) on export of yarn from Nepal since January. It had cited considerable growth in export from Nepal — around 190 per cent between 2011 and 2017 — without reliable production base in the country as the reason for suspending the facility. Subsequently, the government of Turkey had also launched an investigation regarding the circumvention of yarn products to enforce anti-dumping duty on yarn import from Nepal. Hoping to put the doubts of the Turkish government to rest, the Nepali delegation comprising government officials, textile experts, representatives from the Nepal Yarn Producers’ Association had left for Turkey on Wednesday. During the meeting with the Directorate General of Customs Enforcement in Turkey, Joint Secretary Sainju had presented the data related to production units, production capacity of the spinning mills, employment generated by these factories and taxes filed by the factories to the government, he informed after his arrival here today. Regarding the Turkish government’s suspicions on circumvention of yarn products, Sainju clarified that the factories were largely running below capacity in the earlier years as the country was facing crippling power shortage and labour unrest, among others, when Turkey was explored for the market of Nepali yarn products. Along with the rising demand of yarn, Nepali factories have started utilising their capacity towards the upper level and they have now doubled their capacity utilisation from 35 to 40 per cent to 70 to 75 per cent, Sainju informed. Currently there are four spinning mills in Nepal that import raw materials from various countries and are also trying to create backward linkages to maximise the benefits of yarn export. Around 10,000 people are directly employed in yarn production at present. Nepali yarn is being exported to India, Turkey, Bangladesh and some other African countries. Among them, India and Turkey are the major export destinations for Nepali yarn. Out of Nepal’s total annual yarn export worth around Rs 15 billion, yarn worth around Rs five billion is exported to Turkey, according to yarn exporters. During the meeting with the Turkish government authorities, Sainju further said that there was no chance of circumvention as the Nepali factories are still operating below full capacity. The four yarn producers in the country jointly produce almost 40,000 metric tonnes of yarn every year and the production could easily go up if the factories operated at the optimum capacity. Sainju also clarified that Nepali exporters who were largely focused on Indian market are increasingly attracted towards Turkish market as the latter fetches better prices. He also invited the investigation team of the Turkish government to visit the production units of Nepal to cross-verify the data presented by the Nepali team.
He also talked about the adverse impact on jobs and exports of the country due to the Turkish government’s decision to suspend GSP facility and urged for early conclusion of the investigation. In the meeting, officials of the Turkish government vowed to conclude the investigation as soon as possible. Later, the Nepali team also held meetings with Turkish importers of Nepali yarn in Istanbul and briefed them about the talks with the government officials. Nepal has been exporting yarn to Turkey under the most favoured nation treatment after suspension of GSP. Yarn exporters have said that yarn export will not be competitive if Nepal is not provided GSP facility that developed countries have been providing on imports from least developed countries.
Source: The Himalayan Times
Although Bangladesh is the second largest apparel exporter in the world, its share in the global apparel market—only 6.36 percent—is still relatively insignificant. There has been a healthy debate as to whether Bangladesh should open up Foreign Direct Investment (FDI) in the apparel sector where, until now, the majority of investors are local entrepreneurs, with the exception of some foreign companies who have invested in garment businesses inside the Export Processing Zones (EPZs). Before analysing the arguments in this regard, we need to explore why and when FDI is necessary and also consider the advantages and disadvantages of adopting this practice. Many will find it surprising that the fledgling apparel industry of Bangladesh flourished in the hands of the first-generation businessmen who got the opportunity to start their business ventures only after the independence of Bangladesh in 1971. They didn't have much knowledge of the business per se. Even Noorul Quader, the man largely credited with the revolution of the apparel business in Bangladesh, was a bureaucrat with sound knowledge on how to keep government services functioning smoothly; he was by no means an expert in the apparel field. The spirit of innovative entrepreneurship combined with a diligent workforce are the dominant forces behind the development of the country's apparel industry. Local entrepreneurs have put their efforts and made huge investment to expand the sector both vertically and horizontally, making Bangladesh the second largest readymade garment exporter in the world. However, Bangladesh's share in the global apparel market is still relatively insignificant—only 6.36 percent—whereas China's share is 36.37 percent. In addition, most of our apparel items are cotton-based while 65 percent of global apparel is non-cotton. The majority of Bangladesh's apparel export items are concentrated in five basic product categories—trousers, t-shirts, sweaters, shirts, and jackets. We have to consider manufacturing more non-cotton apparel items where Bangladesh has huge potential. So investment in non-cotton textile is a highly feasible proposal as we have a captive market and a skilled workforce. It will, however, be necessary to continue to find methods to reduce our production lead time. If we continue to keep our export products limited to a small number of categories, the growth in our industry runs the risk of stagnating or may even take a negative turn. Moreover, with the increasing socioeconomic development of Bangladesh, the living standards of people are improving also. In line with improvements in living standards, it is inevitable that wages will also gradually increase. To manage the demand for increased wages, the industry needs to start focusing on the production of higher valued apparel items. Upgrading of product in order to achieve a higher purchase price is an approach that needs to be adopted in order for our apparel industry to sustain its growth. For value-added products, we need factories equipped with the most advanced machinery and staff with sound technical knowledge, for which we need huge investment. Value-added items like blazers, jackets, swimwear, lingerie, sportswear, uniforms, raincoats, and fishing wear require manmade fibres (MMF) including viscose, rayon, spandex, polyester and so on. But the MMF production capacity of our existing textile mills is still insignificant. MMF production is complex and constantly requires sophisticated machinery and regular research and development (R&D). Presently, we lack expertise in this area. However, knowledge and guidance can be gained by allowing foreign companies to set up the necessary textile mills in Bangladesh. The benefits of this approach are two-fold: our readymade garment factories will be able to procure the necessary materials from these mills, and lead times will be greatly reduced as our dependency on importing materials from China and India will be significantly reduced. In addition, it will facilitate knowledge transfer as local people, recruited in these fabric mills, will get the opportunity to work with, and learn from, experts in their field—the same way we had developed our garment industry in the 1980's with technical assistance from South Korea. So, foreign direct investment in the apparel and textile industry offers the prospect of good returns. However, we must remember several things while considering FDI in the apparel industry. If we want to attract companies that produce higher valued items, we need to refine our regulatory system in such a way that the majority of investors will find manufacturing high-end products in Bangladesh beneficial, as too many restrictions may discourage the investors. Additionally, if we want to obtain FDI in a particular type of apparel item, we may have to consider setting up an apparel business park with facilities such as fabric and accessories suppliers, testing labs, consultants, etc.—all conducive to manufacturing that particular product type. Here, we need to remember that it is not possible to fully dictate what a manufacturer is going to produce. A winter jacket factory will produce basic items for about 5-6 months a year during the summer delivery period. Likewise, a swimwear manufacturer may produce lightweight basic blouses during winter delivery period. An investment-friendly policy and environment is required to attract FDI in Bangladesh. The investment regime will need to be credible and predictable while it should be ensured that there are no frequent changes in policies and regulations. Facilities like infrastructure, energy supply, double tax deduction, etc., should be provided by the government to bring in investment. Tax incentives for machinery import are very important for the apparel industry as automated machines will improve productivity and, at the same time, the quality of the products. When a factory increases its investment, it will feel empowered to take orders of higher value products to cope with its higher overheads. A rule can be enforced to allow the import of only new machines or machines less than an agreed age, so that FDI will not attract companies wishing to dump outmoded machinery in Bangladesh. It should be ensured that foreign investors can bring in their own managers and supervisors. However, the government must be strict to ensure that license will be issued only if a company complies with all the FDI rules. New factories should install all necessary equipment to control pollution and any negative environmental effects. The rising production cost in China and their shifting to higher-value goods and services has created opportunities for other countries to take the shifting orders. But we have to be very cautious, as there are reports that some apparel manufacturers in China, whose standards were not up to the mark and were notorious for polluting the environment, are now trying to scatter their production plants in different parts of the world. So, it will be necessary for the concerned departments of our government to strictly monitor the issue. Adaptability to the changing trends is a must to sustain growth in our apparel industry in the long run. We must keep pace with the demands of the time. Our industry has now arrived at a juncture where we need to move up the value ladder by shifting from basic to higher-end products to sustain our growth. Foreign investment, therefore, will be key to opening the window to a brighter future for our apparel industry. Mostafiz Uddin is Managing Director of Denim Expert Limited, and Founder & CEO of Bangladesh Apparel Exchange (BAE).
Source: The Daily Star
British retailers are yet to fully harness the selling power of a brand new Instagram shopping feature, according to published research by cloud-based retail software provider Cybertill. More than four-fifths of the retailers ignored the new feature aimed at helping retailers drive traffic to their e-commerce platforms in the first week of its launch. The new Shopping feature, including New Look, Screwfix, Miss Selfridge and River Island, was rolled out by Instagram to business accounts in the United Kingdom, Germany, France, Italy, Brazil, Canada, Spain and Australia recently. A mere 8 per cent of UK brands have made use of the photo tags that drive users to buy the Instagrammed-goods online, according to a Cybertill press release. None of the top five retailers in the United Kingdom — ASOS, ASDA, Tesco, Argos and Next — have enabled the feature yet. M&S and Topshop were two of the first retailers to enable the feature out of the top 50. Of the retailers that don't have the Instagram Shopping feature enabled, 7 per cent encourage the consumer to go in-store, 19 per cent encourage consumers to click the link in the retailer's Instagram bio, 19 per cent encourage the consumer to search for product code on the website, and the rest don’t actively promote ‘buy’ calls to action from Instagram. (DS)
Source: Fibre2Fashion
Australian biotechnology company Nanollose has joined hands with an Indonesian company to produce textile grade microbial cellulose using coconut waste. The company today announced signing a Memorandum of Understanding (MoU) with Indonesian food producer, PT Supra Natami Utama, a subsidiary of PT Niramas Utama, to develop a commercial scale factory and supply chain solution for cellulose production. PT Supra Natami Utama is one of Indonesia’s largest producers of coconut food, beverages and cosmetic products and has multiple facilities across Indonesia with access to significant quantities of coconut bi-product and waste stream. Through this partnership, Nanollose intends to access these waste streams for use in the production of textile grade microbial cellulose on an industrial scale, which can then be transformed into fibres using Nanollose’s innovative technology.
Source: Manufacturers' Monthly
New York: A leading research firm Zion Market research added a recent report on “Textile Chemicals Market: Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021” to its research database. The Textile Chemicals Market report analyzes the comprehensive overview of the market comprising an executive summary that covers core trends evolving in the market. it also includes industry aspects such as drivers, restraints, and opportunities that have been observed in the market throughout its forecast period. It also includes figures pertaining to the volume, value and growth rate of the market from a historical as well as futuristic point of view. The Textile Chemicals Market report includes the forecasts, analysis and important industry trends, market size, market share estimates and profiles of the leading industry Players. The Textile Chemicals Market research report mainly covers the major company profiles and their business strategies along with their sales, market size & share, growth factors and key segments. The report on global Textile Chemicals Market analyzes the growth trends and opportunities of the industry through historical study and estimates future prospects based on comprehensive research. The report extensively provides the Textile Chemicals Market share, size, growth, trends, and forecasts for the period 2016-2024. The market size in terms of volume (KT) and revenue (USD Bn) is calculated for the forecast period along with the details of the factors that are affecting the market growth (drivers and restraints). The key micro and macroeconomic factors impacting the Textile Chemicals Market are likewise talked about in this section. Aside from this, they give an account of worldwide Textile Chemicals Market advertise likewise discusses components, for example, key open doors, drivers, limitation and patterns that are affecting or likely impact the market in the prospective years. To determine the Textile Chemicals Market, the research report consisting a market size, share, price, revenue, growth rate etc. The report also covers the detail study of the market based on the various objectives associated such as major company introduction and their detail profiles, product specification, major segment analysis, and the regional analysis of the market. To identify growth opportunities in the Textile Chemicals Market, the market is mainly divided into four segments including product type, end user, technology, and region. The overview part of the report analyzes market dynamics such as major drivers, challenges, and opportunities in the global Textile Chemicals Market. Global Textile Chemicals Market research report analyzes the various developments, industry trends, growth opportunities, restraints and drivers that impact the growth of the global Textile Chemicals Market. These aspects are analyzed across key regions of the globe thus portraying a global perspective of the Textile Chemicals Market. Regions with maximum growth potential are included in this research study with which possible revenue pockets can be identified. This exhaustive research covers all the important information pertaining to the Textile Chemicals Market that a reader wants to know. Zion Market Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
Source: Tri County Press
