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MARKET WATCH 10 AUGUST, 2018

NATIONAL

INTERNATIONAL

New export-oriented industrial policy to focus on textile, leather sectors

Policy also aim to seize millions of jobs, lower down the value chain, that are shifting out of China to other developing nations. The proposed industrial policy, currently being prepared by the commerce and industry ministry, may have special provisions for manufacturing in the textile, leather sectors to leverage growth, and focus on spreading out export hubs across the country which are currently getting concentrated in a few states. It will also tie in existing government initiatives and serve as a focal point for various industry-wise policies. “It will absorb the 2011 national manufacturing policy and focus on technological issues of Industry 4.0, apart from furthering the government’s push of the Digital India initiative,” a senior Department of Industrial Policy and Promotion (DIPP) official said. While the government had floated an initial discussion paper on the proposed industrial policy in August 2017, it has not yet released a final draft of the policy in the public domain. The commerce and industry ministry had back then announced this final draft will be put out by January 2018. “We will follow the due process and release a detailed draft. We are currently weighing the inputs from other ministries and stakeholders,” a senior DIPP official said. The initial document focused on the creation of jobs, the promotion of foreign technology transfer, the growth of micro, small, and medium enterprises, and the establishment of a goal to attract $100 billion foreign direct investment annually. It will also have a special focus for sectors such as apparel and footwear in which India maintains a manufacturing edge, albeit one that is slipping. “Despite India being one of the largest exporters in both sectors, manufacturing jobs in Bangladesh, Indonesia, and several African countries are seeing an increase, while in India we are seeing a slowdown in growth. So, the policy will have special provisions to boost these sectors,” a senior DIPP official said. The $36-billion textile export sector, the third-largest foreign exchange earner for India after petroleum products and gems and jewellery, clocked only 0.75 per cent growth in 2017-18, after a contraction in the past two years. On the other hand, outbound trade of leather articles rose 3.46 per cent to $2.42 billion, recovering from the contraction witnessed in 2016-17. The proposed policy may also act on the suggestion of successive Economic Surveys over the past three years which have repeatedly pointed to a slowdown in low skilled jobs in neighbouring China. India will also aim to seize millions of jobs, lower down the value chain, that are shifting out of China to other developing nations as Beijing makes adjustments to its own industrial policy under the pressure of growing basic wages and greater specialisation in high-end manufacturing, the official added.

Export-led growth

The policy is also expected to reaffirm the government’s belief in export-led growth and as a result will have an extensive impact on overall trade norms, with ease in trade and diffusion of export hubs among the government’s top priorities, a commerce department official pointed out. Earlier this year, the Economic Survey pointed out that the five states of Maharashtra, Gujarat, Karnataka, Tamil Nadu, and Telangana account for a whopping 70 per cent of India’s exports. “The Centre plans to stop this ghettoisation of exports through incentives as well as channel digital technology to extend exports from rural and traditionally backward areas,” he added.

Domestic procurement push

A further push for adopting mandatory domestic procurement norms by the government may also be there in the policy. The Federation of Indian Chambers of Commerce & Industry had suggested back in February that state governments should also adopt these norms. Currently, the Public Procurement (Preference to Make in India) Order 2017, that came into effect back in June last year, stipulates that only local suppliers will be eligible for all government goods purchases less than an estimated ~5 million. A further list of 90 items is currently being drawn up to be placed under the mandatory category in preferential procurement. The current industrial policy was framed back in 1991, the government led by P V Narasimha Rao essentially junked the previous licence raj. But critics have said the policy was hastily prepared at a time when the economy was battling an economic crisis. Back then, large fiscal deficits had a spillover effect on the trade deficit culminating in a serious external payments crisis.

Source: Business Standard

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EU foreign trade body maps plan to revive FTA talks

NEW DELHI: Europe’s foreign trade association Amfori has said that India and the European Union should focus on resolving differences over three crucial issues if they want to break the deadlock on the longstalled free trade pact. Amfori said talks should initially focus on India’s demand for a liberal visa regime for its nurses, a relaxed geographical indications regime and duty cuts on its textile exports. Christian Ewert, president of Brussels-based Amfori, told ET that EU’s insistence on India committing to sustainability norms is one of the sticking points as Delhi is against the inclusion of non-trade issues such as environment and labour in its trade pacts. “We are looking at alternatives to revive the talks and early harvest is one of those,” Ewert said but highlighted “great reluctance on both sides” for an early harvest.Talks on the trade pact, called Bilateral Trade and Investment Agreement (BTIA), have been held up since 2013 and a recent informal meeting of two sides on how to resume negotiations failed to yield results. “We need to identify services which are in short supply in Europe such as healthcare and IT,” he said. The EU now asks for trade and sustainability chapters in all its trade pacts and that is among the five areas of contention between the two sides. Slashing of import duty on European cars and alcohol by India, recognition of the country as a ‘data-secure’ nation to enable free flow of data between the two and easier visa norms for Indian professionals are the other sticking points. India exported merchandise worth $53.5 billion to the EU in 2017-18 while it imported $47.8 billion worth of goods from the trade bloc. Besides Brexit, the other causes of slow movement on the BTIA are the EU’s involvement in free trade agreements with other countries, including some in Asia such as the Philippines. “Further, EU is challenged by the refugee situation,” Ewert said. The EU’s apprehension to sign a BTIA separate from the Bilateral Investment Treaty (BIT) with India has further added to the delay. “Not having a bilateral investment treaty is a hindrance to investments,” he said. The European Commission had raised concerns over negotiations for a fresh BIT.

Source the Economic Times

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Govt taking multiple measures for textiles sector: Minister

The Centre has been implementing various policy initiatives and programmes for development of textiles and handicrafts, stated Minister of State for Textiles Ajay Tamta in a written reply in the Lok Sabha on Thursday. Government has been implementing various measures for the textile sector, particularly for technology upgradation, infrastructure creation and skill development, said the minister. The key schemes include Amended Technology Upgradation Funds Scheme (ATUFS), PowerTex India Scheme. Scheme for Integrated Textile Parks, SAMARTH- scheme for capacity building in Textile Sector, Silk Samagra- integrated silk development scheme, North Eastern Region Textile Promotion Scheme (NERTPS), National Handicraft Development Programme (NHDP) and Comprehensive Handicrafts Cluster Development Scheme (CHCDS), he stated. The Government also launched a special package to boost investment, employment and exports in the garmenting and made-up sector, the minister said. The special package was designed to create upto one crore jobs, and boost exports by US $ 31 billion and attract investment of Rs. 80,000 crores in 3 years. So far, it has generated additional exports of Rs. 5,728 crore and additional investments of Rs. 25,345 crore, he added. Under the ATUFS, an amount of Rs. 17,822 crore was approved for providing one-time capital subsidy to eligible machinery for seven years from 2015-16 to 2021-22 (including committed liability of Rs. 12,671 crore and Rs. 5,151 crore for new cases). Rs. 8,078.94 crore has so far been released under the scheme. The Government has set up an Apparel and Garment Making Centre (consisting of 3 Units installed each with 100 stitching machineries) at Bodhjungnagar, Agartala under the NERTPS at a total cost of Rs.18.18 crore. Under NERTPS, a silk printing unit has also been set up at Agartala at a cost of Rs.3.71 crore with a capacity to print and process about 1.5 lakh meters of silk fabric per annum. To promote handloom sector in Tripura, Government sanctioned 3 Block level clusters with Rs. 4.28 crore, 44 marketing events with Rs.2.41 crore, 9 Mudra loans (Rs.3 lakh) and enrolled 9,367 weavers and artisans under Health Insurance Scheme and 2,718 weavers and artisans under Mahatma Gandhi Bunkar Bima Yojana, the minister said.

Source: SME Times

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Chinese fabric in Bangla apparel: Government mulls tighter rules for garment imports

The government is considering a proposal to tighten rules on the origin of imported garments, amid warnings by the industry that Bangladesh — which enjoys duty-free access to the Indian market — is buying cheap fabrics from China in large volumes and dumping garments made out of them here. The government is considering a proposal to tighten rules on the origin of imported garments, amid warnings by the industry that Bangladesh — which enjoys duty-free access to the Indian market — is buying cheap fabrics from China in large volumes and dumping garments made out of them here. The textile and garment industry has represented to the ministries of commerce and textiles to make it mandatory for Bangladesh under the South Asian Free Trade Area (Safta) agreement to use either their own or Indian yarn and fabric in their garments to be able to supply to India at zero duty, said Confederation of Indian Textile Industry chairman Sanjay K Jain. “The proposal is under consideration,” said a senior government official. But a decision is yet to be taken, the official said, adding, though, that tweaking rules under trade agreements is not so easy and it needs more deliberations. Senior textile and garment industry executives have now cautioned that the move to double import duties on close to 400 products to 20% could fail to yield desired results, unless the rules of origin are made more stringent under the Safta agreement. As such, India’s garment imports from Bangladesh jumped 44% to $201 million last fiscal from a year before and 80% in the first two months of 2018-19, despite the fact that India is a large manufacturer of apparel. The rise in imports comes at a time when India’s own garment exports have been dropping month after month since October 2017. Consequently, despite a relatively good performance by certain textile segments, India’s overall textile, garment and allied product exports eased 0.5% in the first quarter of this fiscal to $9.31 billion.

Source: Banikinkar Patnaik

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DNA Money Edit: India’s textile sector needs a push

Textile industry in India has been facing numerous challenges since the implementation of goods and services tax (GST) in July 2017. Adding to the plight was the withdrawal of duty drawbacks, which, coupled with free trade agreements (FTAs) with some of the neighbouring nations, made Indian textile products expensive in the international markets. The increased cost of production threatened the survival of micro, small and medium enterprises (MSMEs) as FTAs resulted in cheaper finished textile products flooding the domestic textile market. The industry players have been leaving no stone unturned to convince the decision makers about the ground reality. The government has doubled import duty on 328 textile products to 20% thereby curbing rising imports from China and giving a boost to domestic manufacturing. However, a majority of imports into India is from countries like Bangladesh, Vietnam and Indonesia, thanks to FTAs. India will not be able to give any direct exports incentive to the sector, so there is definitely a need to support exporters to encourage domestic manufacturing. While the government’s duty hike move is certainly positive for the sector, it is too early for textile industry players including MSMEs to rejoice and pop the champagne bottle.

Source: Daily News & Analysis

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Power tariff concessions to textile industry in Maharashtra

Maharashtra Chief Minister Devendra Fadnavis today announcedconcessions of Rs 370 crore in power tariff to the textile industry in the state. It will help revive sick textile mills and generate jobs, the chief minister said at a review meeting of textile department officials here. He also directed officials to provide interest and capital grants to the industry, the chief minister tweeted. The land belonging to the Maharashtra State Textile Corporation, which is struggling financially, should be sold and the proceeds should be transferred to the textile department, he directed.

Source: Business Standard

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Lower tax rate to improve compliance: Goyal

The Lok Sabha today passed four bills to amend the GST law, as Finance Minister Piyush Goyal said lower tax rates will improve compliance and enhance revenue collection. Replying to a debate on Good and Services Tax (Amendment) Bill 2018, he said tax collection will not come down despite reduction in taxes as he allayed the concerns to that effect raised by some members. The lower rates will rather improve compliance and enhance revenue collection, he added. The four bills, which were passed together by a voice vote, are the Central GST (Amendment) Bill, Integrated GST (Amendment) Bill, GST (Compensation to States) Amendment Bill and Union Territory GST (Amendment) Bill. Goyal said in the last one year, GST on about 400 goods and 68 services were reduced. GST came into force from July 1, 2017. "We are empowering 125 crore people of India through Good and Simple Tax," he said, referring to the GST. Promotion of an honest tax structure will improve compliance as it will encourage people to come forward and pay taxes, he said. On the problems faced by the textile sector, he said the GST Council has resolved most of the problems of the sector. With the introduction of GST, textile has become cheaper, he added. While moving the bill for consideration, Goyal said the capacity to slash the GST rates on more items would go up as GST revenues and the compliance rate increases and the economy formalises. He also pointed out that the government was able to collect GST in line with the country's fiscal deficit target. Participating in the debate, senior Congress leader Mallikarjun Kharge said that the BJP-led government does not know how to implement GST. "More than 50,000 MSME industries have closed down in Tamil Nadu alone due to faulty implementation of GST," he stated. Saugata Ray (TMC) said the recent cut in GST rates on 100 items was a "pre-poll" sop and the estimated loss to the exchequer on account of this would be Rs 12,000 crore. "The Finance Minister has to explain from where the money will come," Ray said, while observing that Goyal was not present in the House. The BJP members then informed Ray that Goyal has gone to Rajya Sabha for voting on a bill, to which Ray remarked "This is why I say, Finance Minister should be from the Lok Sabha".Referring to Goyal, Ray said "the caretaker Finance Minister" has brought four amendment bills. "Today Arun Jaitley came to vote in the Rajya Sabha. I am wondering when the change in portfolio will happen," he said. Kalikesh Singh Deo (BJD), while supporting the bills, asked the government to make it easy to pay taxes under the GST. He said the MSMEs were being stifled with high compliance burden under GST. "The government is doing too little and taking too much time to do it," he said. Anandrao Adsul (Shiv Sena) said Goyal in the later part of his speech went on a "political tangent and then the discussion revolved around politics. I couldn't understand if the discussion was on GST or was it poll campaign." However, he said that despite the fact that India's economy was growing at a faster rate, why was the value of rupee declining and the price of fuel increasing. Jayadev Galla (TDP) reiterated the demand to fulfil the commitments made by the Centre for Andhra Pradesh. He said that the government talks about special category states in the GST law but do not want to extend the status to Andhra Pradesh. "People of the state are not fools or illiterates. They will be giving befitting reply in the election. I demand extension of all benefits to Andhra Pradesh....How can we support this bill," he said, while demanding that the period of compensation should be raised from 5 to 10 years. He also asked the Centre to remove GST on red chilly and turmeric powder. K V Reddy (TRS) said the law has not been able to cut tax evasion and reduce fraud and "now there is more ambiguity".He asked the centre not to bring petrol and alcohol within the purview of the GST. Rajesh Ranjan (RJD), Ravindra Kumar (BJP), Renuka Butta (YSRCP), P S Chandumajra (SAD) also participated in the discussion.

Source: The Pioneer

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GST on more items to be slashed if revenue increases: Goyal

Finance Minister Piyush Goyal today said the capacity to slash the GST rates on more items would go up as Goods and Services Tax (GST) revenues and the compliance rate increases and the economy formalises. Goyal was speaking in the Lok Sabha after moving four bills seeking to amend the Goods and Services Tax (GST) laws for consideration and passage. The bills were Central GST (Amendment) Bill, Integrated GST (Amendment) Bill, GST (Compensation to States) Amendment Bill and Union erritory GST (Amendment) Bill. His speech 45-minute speech was interrupted by Congress members who were in the Well raising anti-government slogans on various issues, including demanding setting up of a joint parliamentary committee to probe the Rafale jet fighter deal. The Minister said the "GST Council has reduced rates on many items and services in the last round. We want the consumer to be burdened less by indirect tax." Elaborating, Goyal said that in the last one year, the GST Council has reduced rates on 384 items and 68 services. "186 items and 99 services were exempted from GST. Also sanitary pads were exempted from the GST," he said. He also pointed out that the government was able to collect GST in line with the country's fiscal deficit target.

Source: Economic Times

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Govt e-marketplace's 40 pc transaction with MSMEs

More than 40% of transactions by volume are done with MSMEs registered on the Government e-mrketplace GeM, the government said on the occasion of completion of two years of the platform on Thursday. More than 40% of transactions by volume are done with MSMEs registered on the platform, said an official release. GeM was launched on August 9, 2016, with the objective of creating an open, transparent and efficient procurement platform for government. Over its short journey, GeM has achieved many significant milestones, including achieving gross over Rs. 10,000 Crores in Gross Merchandise Value (GMV) through more than 6.16 Lacs transactions on the platform. It has made over 4.2 lakh products available on its platform through a network of over 1.3 lakh sellers and service providers. Buyers from across 36 States & Union Territories (UTs) are buying on the platform. 24 States & UTs have signed a formal MoU with GeM to adopt GeM as the core procurement portal in their respective territories. Average savings of 25% achieved across transactions on the platform, said the release.

Source: SME Times

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Rupee logs first fall in three days, down 5 paise at 68.68 a dollar

Escalating trade war and sanctions dominated headlines and continued to play a critical role in driving the forex market sentiment after the US imposed fresh tariffs on imported goods from China and sanctions against several other nations. Snapping its two-day rally, the rupee today ended lower by 5 paise at 68.68 against the US dollar on renewed buying interest for the American currency even as domestic equities remained in a triumphant mode. Escalating trade war and sanctions dominated headlines and continued to play a critical role in driving the forex market sentiment after the US imposed fresh tariffs on imported goods from China and sanctions against several other nations. The Indian currency had appreciated by a whopping 25 paise in the last two days.Tail-end dollar demands from banks and importers largely offset early steep gains from lower crude oil prices and a recovery in the Chinese yuan. The home currency touched a fresh one-week high of 68.45 in mid-morning deals before retreating. Emerging markets currencies also witnessed turmoil. The Chinese yuan was trading higher at 6.83 against the dollar after data showed China's consumer inflation index rose by 2.1 per cent in July. Meanwhile, equity benchmarks Sensex and Nifty ended at fresh life-time highs for yet another session today, powered by unabated buying by participants on stellar corporate earnings. On the energy front, crude prices regained some lost ground, paring some of their overnight steep losses, after the first round of US sanctions against Iran came into effect, although confidence in crude demand has been hit by the escalating China-US trade dispute. The Benchmark brent for September settlement is trading weak at USD 72.42 a barrel in early Asian session after having dropped by more than 3 per cent on Wednesday. Earlier, the rupee resumed with a gap-up at 68.48 from Wednesday's close of 68.63 at the Interbank Foreign Exchange (forex) market on steady dollar selling by exporters. It later hit a session high of 68.45 in mid-morning deals before eventually pulled back to a low of 68.71 before finally settling the day at 68.68, showing a modest loss of 5 paise, or 0.07 per cent. The Financial Benchmarks India private limited (FBIL), meanwhile, fixed the reference rate for the dollar at 68.6240 and for the euro at 79.6327. The bond markets, however rallied for the second day and the 10-year benchmark bond yield slipped to 7.75 per cent. Globally, the US dollar gained against most major currencies as investors bet that trade war rhetoric and a strong U.S. economy would continue to aid the currency. Trade tensions are seen as beneficial for the US dollar as the economy is better placed to handle protectionism than emerging markets, and tariffs may narrow the US trade deficit. Against a basket of other currencies, the dollar index is trading higher at 95.05. In the cross currency trade, the rupee fell back against the pound sterling to end at 88.53 per pound from 89.30 and the euro drifted against the euro to finish at 79.61 as compared to 79.58 yesterday. Elsewhere, the pound sterling is trading little changed against the US dollar after reports of EU preparing major Brexit concessions to the UK Prime Minister Theresa May, helping the currency to recover from a no-deal Brexit selloff ahead of Friday's Q2 GDP data. The euro remained under immense selling pressure against the greenback amid dovish ECB report on the economy stating that the potential US tariffs may put them at the highest level in 50 years against the grim back drop of ongoing US-China war tension. The Russia's ruble is tanking on the news of fresh US sanctions over Moscow's alleged poisoning of an ex-spy in Britain. In forward market today, premium for dollar declined owing to consistent receiving from exporters. The benchmark six-month forward premium payable in December moved down to 114-116 paise from 116-118 paise and the far-forward June 2019 contract edged down to 262-264 paise from 264.50-266.50 paise previously.

Source: Financial Express

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Govt working out various initiatives for handloom weavers: Ajay Tamta

JAIPUR—The Union Minister of State for Textiles Ajay Tamta has said  that the government is working out various initiatives so that  handloom weavers can fetch due value for their produce.  Various initiatives have been taken by the government for  welfare of weavers  including Hathkargha Samvardhan Sahayata  Scheme  under which the government assists them by bearing 90%  of the cost of new looms  Tamta said  addressing the fourth National Handloom Day here.  He said that weavers can  avail MUDRA loan at 6%  interest rate  under which  margin money of Rs 10  000 is  also provided.  The ministry has entered into MoUs with Indira Gandhi National Open University (IGNOU) and National Institute of Open Schooling (NIOS) whereby children of weavers  shall be able to avail school and university education  with 75% of  fees being borne by the government. 21 e-commerce entities have been engaged for providing online marketing platform for handloom products he added. Handloom represents the old age culture of the country and the state government is implementing various schemes for development of handlooms.  On the occasion Sant Kabir Awards and National Awards for the year 2016 were conferred to the handloom weavers for their outstanding craftsmanship. State Awards of Rajasthan for the year 2017 were also presented.  Commemorative Postage Stamps on five registered Handloom products — Baluchari Saree Bhagalpur Silk Kashmir Pashmina Pochampally Ikat and Tangaliya Shawl — were also released during the event.

Source: Tecoya Trend

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India's Coimbatore to host textile fair in Feb

Coimbatore in India’s Tamil Nadu will host an international textile fair in February, according to state handloom minister OS Manian. The state has allocated ₹2 crore for the fair, which would showcase its textile products, help find new markets and bridge the production-sales gap, he said after meeting industry leaders to discuss arrangements for the fair. He hoped the central government would reduce the 5 per cent goods and service tax (GST) imposed on the textile sector, according to a news agency report. The state would soon fix the pay of handloom weavers coming under the cooperative sector, while the revised pay for workers in the poweroom sector would be decided upon through talks between the district collectors and labour unions, he added. (DS)

Source:Fibre2Fashion

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RIL, Arvind ink pact for co-branded high-performance fabric R|Elan

The said fabric will be made from speciality engineered fibres for denim and other woven fabrics. Mukesh Ambani-led Reliance Industries Ltd (RIL) and textile conglomerate Arvind Ltd on Thursday announced a partnership for manufacturing high-performance fabric co-branded as R|Elan. The said fabric will be made from speciality engineered fibres for denim and other woven fabrics. While Arvind will provide the high performance fabric, RIL will provide necessary technology under the partnership. “The partnership will open up opportunities for Arvind to create quality products in line with the latest trends. This co-branding effort re-affirms our vision to offer products that are aesthetically pleasing, technologically advanced and, most importantly, sustainable,” said Aamir Akhtar, CEO, Denims, Arvind Ltd., as per a joint statement. According to RIL, the R|Elan co-branding exercise will help strengthen its foothold in the Rs 2.25-2.50 trillion Indian apparel industry. The high performance R|Elan fabric was launched at RIL's Hub Excellence Partners (HEP) meet in Ahmedabad on Thursday. According to RIL, textile and apparel manufacturers will be key beneficiaries as RIL will share its experience, knowledge and technology to manufacture high performance R|Elan fabrics in these cities. This strong pan-India network will provide assurance to apparel brand owners and retailers of streamlined production, timelines and standard quality, RIL stated in a statement. RIL has partnered with 32 textile players that are equipped to produce new-age fabrics using R|Elan technologies. Already, RIL is providing latest know how, specifications and expert consultation support to these players to enhance and sustain quality of textile to be supplied to apparel manufacturers, the company stated.

Source: Business Standard

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Raghavendra Singh is new Secretary, Ministry of Textiles

Raghavendra Singh, a 1983 batch IAS officer of West Bengal cadre, will take over as secretary, ministry of textiles, in place of Anant Kumar Singh, who has been shifted to the department of land resources in the vacancy caused on superannuation of Dinesh Singh on June 30, 2018. The appointment has been approved by the Appointments Committee of the Cabinet.The order of the latest bureaucratic reshuffle has been released by department of personnel and training, ministry of personal, public grievances and pensions.Since November 2017, Singh was serving as secretary in the ministry of culture.

Source: Fibre2fashion

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Global Textile Raw Material Price 2018-08-09

Item

Price

Unit

Fluctuation

Date

PSF

1441.74

USD/Ton

0%

8/9/2018

VSF

2071.14

USD/Ton

0.21%

8/9/2018

ASF

3117.68

USD/Ton

0%

8/9/2018

Polyester POY

1540.54

USD/Ton

0.24%

8/9/2018

Nylon FDY

3410.42

USD/Ton

0%

8/9/2018

40D Spandex

5049.77

USD/Ton

0%

8/9/2018

Nylon POY

5525.47

USD/Ton

0%

8/9/2018

Acrylic Top 3D

1763.76

USD/Ton

0%

8/9/2018

Polyester FDY

3088.41

USD/Ton

0%

8/9/2018

Nylon DTY

3220.14

USD/Ton

0%

8/9/2018

Viscose Long Filament

1741.80

USD/Ton

0%

8/9/2018

Polyester DTY

3512.88

USD/Ton

0%

8/9/2018

30S Spun Rayon Yarn

2751.76

USD/Ton

0%

8/9/2018

32S Polyester Yarn

2239.46

USD/Ton

0%

8/9/2018

45S T/C Yarn

2956.67

USD/Ton

0%

8/9/2018

40S Rayon Yarn

2927.40

USD/Ton

0%

8/9/2018

T/R Yarn 65/35 32S

2517.56

USD/Ton

0%

8/9/2018

45S Polyester Yarn

2415.11

USD/Ton

0%

8/9/2018

T/C Yarn 65/35 32S

2488.29

USD/Ton

0%

8/9/2018

10S Denim Fabric

1.37

USD/Meter

0%

8/9/2018

32S Twill Fabric

0.84

USD/Meter

0%

8/9/2018

40S Combed Poplin

1.17

USD/Meter

0%

8/9/2018

30S Rayon Fabric

0.65

USD/Meter

0%

8/9/2018

45S T/C Fabric

0.70

USD/Meter

0%

8/9/2018

Source: Global Textiles

Note: The above prices are Chinese Price (1 CNY = 0.14637 USD dtd. 9/8/2018). The prices given above are as quoted from Global Textiles.com.  SRTEPC is not responsible for the correctness of the same.

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US-China tariff war to slow down global trade growth in Q3 of CY18: WTO

A sudden dip in export orders globally, brought about by an escalating trade war between the two largest economies - the US and China, has led to the World Trade Organization (WTO) dimming its prospects for trade growth in the third quarter of 2018 calendar year. The Geneva-based body brings out its quarterly forecast of global trade growth through the World Trade Outlook Indicator (WTOI) index which on Thursday showed a sudden slowdown in global export orders, stemming from slow growth in crucial sectors. “The moderation in the overall WTOI index was driven by export orders (97.2), which have declined steadily over the course of the year, and automobile production and sales (98.1), which have risen slightly recently, but remain below trend,” the WTO said. Trade growth in agricultural raw materials and electrical components are also expected to be lower than the medium term trend. The WTO has maintained that WTOI is not intended as a short-term forecast, suggesting it provides an indication of trade growth in the near future. Readings greater than 100 suggests growth above medium-term trends, while those below the number indicate the opposite. However, actual trade volumes have closely followed its predictions. The index had forecast solid growth in trade volumes in the first quarter of this year which had continued to reduce ever since. “The latest value of 100.3 is below the previous value of 101.8 and just above the baseline value of 100 for the index, signalling an easing of trade growth in the coming months in line with medium-term trends,” the WTO said.

Trade war intensifies

In the latest episode of a trade war that continues to spiral out of control, Beijing on Wednesday signalled its readiness to impose retaliatory tariffs on $16 billion worth of US goods, ahead of China’s top leaders gathering for their annual summit. This came close on the heels of the Donald Trump Administration in the US publishing a list of Chinese products that will face 25 per cent duties starting on August 23, raising the value of tariffs to $50 billion, from the current $34 billion. US-China tariff war to slow down global trade growth in Q3 of CY18: WTO. Amid the trade war, China has reported a current account deficit of $28.3 billion in the first half of 2018 — a first in 20 years for the world’s second-largest economy. Growth in China’s factory sector hit an eight-month low as export orders came under stress. Chinese firms have cut output, fearing industrial risks as a result of slower orders and high corporate debt. This is expected to have ripple effects across the world, the WTO has warned. India has also become embroiled in the trade war, announcing the imposition of higher duties on 29 key imports from the US, that are set to go live from September 18. Spread across sectors from which imports stood at $1.5 billion in 2017-18, New Delhi had claimed the amount was equal to the estimated loss faced by India after the Trump Administration hiked import duties on steel and aluminium in May.

Source: Business Standard

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Development of graphite-based conductive textile coatings

Lately, scientists compared the washing resistance of different graphite–polyurethane coatings on cotton, linen, viscose, and polyester woven fabrics. Conductive yarns and coatings are necessary for a broad variety of smart textile applications, such as sensors, data transmission lines, or heated fabrics. The main problems of such conductive textile elements are abrasion and washing resistance. Since different findings with respect to these properties are reported in the literature for similar coatings, the required optimisation is impeded.

Strong influence of textile substrates

In a recent study, the washing resistance of different graphite–polyurethane coatings with graphite contents between 25% and 33% on cotton, linen, viscose, and polyester woven fabrics was compared, using two different graphite particle sizes on diverse textile substrates. It was found that not only the graphite particle dimensions and graphite concentration strongly influence the longevity of the coatings, but also the textile substrates which were coated with the conductive mass. This means that conductive coatings cannot be optimised without knowledge of the planned application.

Source: European Coatings

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