The Synthetic & Rayon Textiles Export Promotion Council

MARKET WATCH 16 AUGUST, 2018

NATIONAL

INTERNATIONAL

‘Weak rupee good for textiles and clothing’

The rupee weakening against the dollar is expected to be positive for the textile and clothing sector. Sanjay K. Jain, chairman of Confederation of Indian Textile Industry, said yarn exports to China increased 20% to 24 % between April and June. However, the Chinese yuan also weakened in the period and hence Indian exports were affected. “It is more important to see the rupee weakening in context to our competitors’ currency,” he said. From April to June, the weakening Indian currency gave exporters a competitive edge. According to Chandrima Chatterjee, adviser at Apparel Export Promotion Council, the rupee has been weakening this year compared with the last fiscal and garment exporters will benefit from it. “Right now, it [weakening rupee] is positive. But, too much volatility will affect exports.” The Centre is expected to reimburse embedded taxes and raise Reimbursement of State Levies, thus giving garment exports a push. Apparel exports, which were almost stagnant for the last couple of years, is expected to do better. It will give the garment producers cushion against increasing raw material prices. “However, buyers will ask for cut in rates even for existing orders, and we might not get the full benefit,” said A. Sakthivel, vice chairman of the Council.

Source: The Hindu

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Prabhu to visit Uzbekistan to promote trade, economic ties

In line with the country’s increased focus on intensifying strategic ties with the resource-rich Central Asian countries, Commerce Minister Suresh Prabhu is leading a business delegation to Uzbekistan later this week to scout for opportunities in sectors such as textiles and garments, pharmaceuticals, agriculture, food processing and engineering goods.

CII, FICCI team

While the Minister will participate in the India-Uzbekistan Intergovernmental Consultations (IGC) on trade and economy in Tashkent on August 16-17, industry representatives from the CII and FICCI will hold meetings with their counterparts in the identified sectors, a government official told BusinessLine. “With India looking at diversifying its economic relationships beyond the traditional markets of Europe and the US, Central Asia is an important region not just for the valuable natural resources it is endowed with but also due to the immense trade potential it holds. Uzbekistan is an important country of Central Asia and could also serve as a gateway for India to CIS countries,” the official said. Prabhu’s visit to Uzbekistan follows External Affairs Minister Sushma Swaraj’s three-nation Central Asian tour to Kazakhstan, Kyrgyzstan and Uzbekistan earlier this month. India’s increased focus on Central Asia is also due to its recent membership of the Shanghai Cooperation Organisation — a Eurasian political, economic and security alliance. All three countries are members of the SCO. India’s exports to Uzbekistan mainly comprise pharmaceutical products, mechanical equipment, vehicle parts, services, optical instruments and equipment. It imports fruit and vegetable products, services, fertilisers, juice products, extracts and lubricants from the country. The volume of trade is small with Indian exports to the country at $365 million and imports at $102 million in 2017-18, but suitable joint ventures could provide India access to the huge market of CIS countries as Uzbekistan is part of the CIS free trade agreement which includes Russia, Ukraine, Belarus, Uzbekistan, Moldova, Armenia, Kyrgyzstan and Tajikistan.

Biz opportunities

A number of Indian business delegations have been visiting Uzbekistan to explore business opportunities in the last couple of years including one led by the All India Industrial Gases Manufacturers’ Association, a pharmaceutical delegation led by Pharmexcil, a delegation led by the Council for Leather Exports of India and some others from the healthcare sector. In this week’s visit to Tashkent and adjoining areas, the business delegations from FICCI and CII will hold talks with businesses in various sectors including pharmaceuticals, agriculture/agriculture machinery, food processing, engineering goods, garments & textile, leather, tobacco, plastic & chemical and petrochemical sectors. Uzbekistan, too, is taking steps to increase its economic ties with India. The Deputy Prime Minister of Uzbekistan Suhrob Rustamovich Kholmuradov (who also served as the Chairman of State Investment Committee of the Republic of Uzbekistan) visited India in June and held a number of meetings in New Delhi including ones with Swaraj and Agriculture Minister Radha Mohan Singh.

Diverse fields

Both sides underscored untapped potential in strengthening bilateral cooperation in diverse fields including ranging from agriculture to information & communication technologies and agreed to further strengthen this partnership through regular consultations and organisation of business to business interactions on focused areas of mutual interest.

Source: The Hindu Business Line

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India-Bangladesh trade to scale new high

The Bangladeshi financial year 2017-18 (July-June) might prove to be a landmark in bilateral trade relations. For the first time trade is set to cross $9 billion mark and Bangladesh’s exports to India will close near $900 million, riding primarily on ready-made garments, according to sources. Though India offered duty-free and quota free entry to Bangladesh goods under the (South Asian Free Trade Area) SAFTA agreement in 2011, Dhaka was slow in taking advantage of the facility, as their exports to India grew from $512 million to $672 million over the last six years. During the past 11 months Bangladesh’s garment exports to India increased by 113 per cent from $129 million to $276 million. Add to this footwear, fish, beverages etc and India’s imports from Bangladesh increased by a 30 per cent ($201 million) since July, 2017.

GST benefits

The introduction of GST in July 2017, led to withdrawal of 12 per cent countervailing duty (CVD) on textiles. The withdrawal of CVD was not specific to Bangladesh neither Bangladesh is the only beneficiary. But it surely came as an advantage for Bangladesh, which is world’s second largest exporter of ready-made garments. The competitive edge should increase with the recent hiking of import duty on 328 textile products, which is not applicable to Bangladesh. The sharp rise in imports from Bangladesh attracted attention of Confederation of Indian Textile Industry (CITI), which pointed out that it will open a flood gate if India doesn’t amend the FTA, which was entered without sufficient rules of origin safeguard. Normally FTA’s include minimum value addition criteria which is absent in SAFTA. Sanjay Jain, president of (CITI) is apprehensive that the loophole may be used for diversion of Chinese man-made fibre based garments through Bangladesh. Shaquib Quoreshi, enterpriser at Dhaka-based Business Intelligence Limited said that the minimum value addition criteria may be added in the FTA. But such amendments can be reached only through consensus at the SAARC ministerial.

However he rules out any immediate worry for India.

Quoting a study by ADB’s SASEC programme, Quoreshi said Bangladesh had distinct cost advantage vis-a-vis Indian imports in 49 garment items. The GST related benefits should help Bangladesh grab a higher share of Indian imports by replacing other destinations.

Source: The Hindu BusinessLine

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India’s trade deficit adds to rupee’s woes

India’s trade deficit in July widened to the most in more than five years, worsening the outlook for the rupee that hit a record low on Tuesday. The trade shortfall puts pressure on the current account deficit, a key vulnerability for the economy and one of the reasons why the rupee has been among the worst-hit in Asia amid an emerging market rout this year. The rupee dropped to as low as 70.08 per dollar on Tuesday as a collapse in Turkey’s lira hit investor sentiment, taking the slump in India’s currency down to 8.6 per cent this year. While a weaker rupee is positive for exports, it poses an inflation risk for a nation that imports more than 80 per cent of its crude oil needs. Every rupee change in the exchange rate against the US dollar impacts India’s crude oil import bill by $1.58 billion, according to the Oil Ministry. Inbound shipments of oil in July were at $12.4 billion, up 57.4 per cent from a year ago, while gold imports surged 41 per cent to $2.96 billion and electronic goods by 26 per cent to $5.12 billion. Overall imports rose 29 per cent to $43.8 billion, while exports grew at 14 per cent to $25.8 billion. The last time the trade deficit was wider was in May 2013 at $19.1 billion. “Broader emerging market currency movement, dollar strength, and the trend in crude oil prices will drive the outlook for the rupee in the immediate term, which will have an impact on the landed cost of imports,” said Aditi Nayar, principal economist at ICRA in Gurugram, near New Delhi. “That will also have a bearing on various commodity prices and transmit into wholesale price inflation,” she said. The wider trade gap comes at a time when inflation is easing, complicating the central bank’s policy outlook.

Source: Press Reader

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Digital marketing lessons for NE craftsmen

GUWAHATI: Global online retailer Amazon will train the northeast's gifted but digitally uninformed weavers and artisans on selling their creations online via e-commerce platforms. A study by Northeastern Development Finance Corporation Ltd (NEDFi) found that despite have bank linkages and mobile phones, the region's weavers and artisans lack awareness about digital marketing. The study also found that only a small percentage of their products were e-ready. A day-long workshop will be held on Friday and will include introduction on growth of B2C exports through online channels. A talk will be delivered by Amazon India category head in global selling, Saurabh Malhotra. Weavers and artisans will be told how they can start selling their products in global marketplaces outside India, the types of documents they would require to kick start their e-business, the costs involved and managing deliveries. The e-commerce market in India was estimated at USD 27.5 billion in 2016 and is now expected to have grown at a compound annual growth rate of 31%. The growth of e-commerce is greatly driven by young online users. The age group between 15 and 24 years comprises 37% and the age group of 25-34 years comprise 38% of total online users to use e-commerce websites. The NEDFi study stated that the exponential growth of mobile subscribers, rapid expansion of network connectivity and growing popularity of e-commerce platforms have opened vistas for promotion of craft products of the eight states of the northeastern region. The region has more than 200 tribes, each with its own rich traditional cultural heritage reflected in their crafts and weaves. Craftsvilla, Auroville, Carftsmantra, Exclusivelane are some of the leading inventory-based portals in marketing of craft products, while hheconline and tribes India are promoted by the ministry of textiles and the ministry of tribal affairs respectively.

Source: Times News Network

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New apparel training centre to be set up in city, says Pradhan

The Union Minister of Petroleum & Natural Gas and Skill Development & Entrepreneurship, Dharmendra Pradhan said a apparel training centre will be established here. He was speaking at a preparatory meeting with officials from various CPSEs, Banks and Institutions for the holding of ‘SC-ST Conclave – 2018’ on 30 August. The meeting was attended by representatives from NTPC, NALCO, NSIC, MCL, Paradeep Port Trust, SBI and various other CPSEs and Banks. In the meeting deliberations were also held and there were various coinciding events to take place on 30th August, 2018 at NSIC complex, Mancheswar Industrial Estate, Bhubaneswar. “All the stake holders must play their role for the success of the SC-ST Conclave,” he said. He urged all CPSEs and Banks to give mass publicity of the SC-ST Conclave through posters and hoardings at different strategic outlets windows in their organisations. The Minister also desired that each organisation must also engage with the SC-ST members of their staff informing them of the Central Government initiative for the members SC-ST community. Ravindra Nath, CMD NSIC gave an overall view of the various events to take place like the National SC-ST Conclave, Inauguration of NSIC Building at Mancheswar Industrial Area, setting up of NSIC’s Apparel Training Centre (Textile Sector), Exhibition of SCST Entrepreneurs. Inauguration of National Skill Training Institute (NSTI) and National Skill Development Corporation (NSDC) at NSIC complex and various other initiatives of the Ministry of Petroleum in the list.

Source: The Statesman

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Indian economy expected to expand at 7.4% in FY 19: Ficci survey

"The projection is in line with the estimates put out by the Reserve Bank earlier this month," it said. The Indian economy is expected to grow at 7.4 per cent in the current fiscal, higher than the previous year, said a Ficci survey released on Tuesday. Rising oil prices however are putting pressure on the current account, while global uncertainties around trade and financial markets carry serious risks for the rupee, according to the economists who participated in the Ficci's Economic Outlook Survey. Also, trade tensions between major economies is disturbing the global recovery, it said. The survey forecasts an annual median GDP growth at 7.4 per cent for 2018-19, with a minimum and maximum range of 7.1 per cent and 7.5 per cent, respectively. "The projection is in line with the estimates put out by the Reserve Bank earlier this month," it said. The expansion in the GDP was 6.7 per cent (provisional) in 2017-18. On the growth in the first quarter of the current fiscal, the survey said the expansion in the economic activity would be 7.1 per cent. The Central Statistics Office (CSO) is scheduled to release the first quarter GDP number on August 31. On rupee, the industry chamber said the economists universally believe that the Indian currency will remain under strain. "Majority of economists believed that the fair value of Indian Rupee vis--vis the US Dollar would be in the range of 65 to 66," the survey said. The study further said the median growth forecast for agriculture and allied activities has been put at 3 per cent for 2018-19. Although there has been some slippage in the monsoons during June and July, updated forecast for August and September indicate a pick-up in rainfall. Further, industry and services sector are expected to grow by 6.9 per cent and 8.3 per cent, respectively in 2018-19. Ficci said the outlook of the economists on inflation seems benign. The Consumer Price Index or retail inflation has been forecast at 4.8 per cent for the year as whole.

Source: Business Standard

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Textiles, agriculture, pharma, IT: Moldova beckons

New Delhi :  The East European nation of Moldova is wooing Indian investors in the areas of textiles, agriculture, pharmaceuticals and IT among others as it is set to open an embassy in this country in 2019, 28 years after attaining independence following the dissolution of the USSR. "This year I took the decision of opening three new embassies from the beginning of next year - in Argentina, in Ghana and, of course, number one in India," Moldovan Minister of Foreign Affairs and European Integration Tudor Ullanovschi told IANS in an exclusive interview here. Ullanovschi, who assumed office in January this year, is the first Moldovan Foreign Minister to visit India after the country came into being in 1991. "We have a strong interest in increasing our trade balance," he said. "At this point we have 30-plus million euros (around $34 million/over Rs 2 billion) of bilateral trade." Stating that Moldova imports much more from India than it exports, he said both countries have agreed to synchronise the certification of food and agricultural products. "Moldova has organic fruits and vegetables. We have very good quality apples, plums, walnuts, and other types of fruits as also sunflower oil, grains, cereals," he said. "So the export of Moldovan agricultural products is a priority that we have." Ullanovschi also said that Indian producers can use the "extremely high quality" agricultural land in his country. He said that Moldova invites Indian companies to explore its market because of the advantageous position it is in. Moldova has free trade agreements with the European Union, the Commonwealth of Independent States (CIS), and Turkey. "Now we are discussing a free trade agreement with EFTA (European Free Trade Association) countries - Switzerland, Liechtenstein, Norway and Iceland," the Foreign Minister said. "The Moldovan government provides extraordinary fiscal incentives for investments. If a company invests more than $1 million in a free economic zone in Moldova, it does not have to pay taxes for three years." Ullanovschi said that he would like to send a message Indian companies, be it in textiles or pharmaceuticals, involved in production activities to come to Moldova. "In September, we are going to send a delegation of 10-12 textile business people of Moldova to India to see what are the benefits of cooperation to either buy yarn or fabric from India," he said. He also said that of the around 300 Indians living in Moldova, over 280 are students of the Moldova State University of Medicine and Pharmacy in the country's capital Chisinau. He said that another area of interest for both Moldova and India is the IT and ICT sector. "Moldova is among the top 10 countries with the fastest internet speed in the world," Ullanovschi said. Stating that his country has a unique tax system for the IT sector, he said: "If a foreign company invests in the IT sector in Moldova, there is only one tax of 7 per cent. You invest and you will have a successful business in the IT sector." Ullanovschi said that both Moldova and India have nearly finalised a memorandum of understanding on setting up ICT knowledge centres in both countries. He also said that his country is interested in an economic and trade agreement as also a foreign investment promotion and protection agreement with India. He stressed on a visa agreement between Moldova and India as Indians need an invitation from Moldova to visit that country now. "We have to remove the barriers between our countries, so people can travel freely for tourism to flourish," Ullanovschi said. In this connection, he said that his country is also interested in signing an air services agreement with India. "The Republic of Moldova is a member of the European Common Aviation Area and there is no limit in the number of flights from Moldova to the EU," he said. "One idea could be to sign an inter-airline or code-share agreement between the Moldovan airlines and Indian air operators." Stating that there was 35 per cent increase in the number of Indian tourists to Spain after Indian films were shot in that country, the Moldovan Minister invited Bollywood to explore his country. With Moldova being one of the top wine exporters in the world, another point of interest for Indian tourists, Ullaovschi said, will be the 200-km-long underground wine cellar in his country, which figures in Guinness World Records for being the world's largest.

For Moldovans, an area of interest in India is medical tourism. "We are thinking of vacation packages that will include consulting doctors in India and then going on vacation to places like Goa," Ullanovschi said.

Source: IANS Live

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Telangana CM launches insurance scheme for farmers

Telangana Chief Minister K Chandrasekhar Rao today launched two new schemes including the Rs five lakh insurance cover for farmers. Unfurling the national flag at the historic Golconda Fort here on the occasion of Independence Day, he also launched the economic support scheme for backward classes. Under the 'Rythu Bima' scheme, every farmer would get life insurance cover of Rs five lakh. The state government has already paid Rs 636 crore towards premium for the scheme. According to official sources, 28 lakh farmers in the age group of 18 to 59 would be insured. The government would bear an annual premium of Rs 2271.50 per farmer. Under the economic support scheme for backward classes, the government would provide a grant of Rs 50,000 to the beneficiaries to start small businesses. Rao, who spoke on the number of welfare schemes being implemented by his government, said the second phase of distribution of cheques under the 'Rythu Bandhu' investment support scheme for farmers would begin in November. As per the scheme, the government provides Rs 8,000 per acre for two crops to every farmer as investment support. In the first phase, the state government has distributed Rs 5,111 crore to 49,49,000 farmers. The government is setting up a mega textile park in Warangal to provide employment to weavers. 'Textile hubs' are being set up at Sircilla and Gadwal, he said. The chief minister said thestate government is spending Rs 2,000 crore on minorities welfare and development adding it has been decided to set up a special IT park for IT industrialists from the minority sections. Work is on at a brisk pace to run Hyderabad metro rail services from Ameerpet to LB Nagar next month and from Ameerpet to Hitech City in November, Rao said. The state government is implementing a special plan to make Hyderabad a global city, he said adding different construction programmes have been taken up with Rs 35,000 crore. A plan to improve basic facilities would be implemented in Hyderabad at a cost of Rs 50,000 crore in the next five years, he added.

Source: Business Standard

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CBDT plan to incentivise ‘quality orders’ worries trade

Mumbai : Trade and industry is increasingly concerned about the recent plans of the Income Tax Department to incentivise taxmen who pass “quality orders” by imposing a penalty or increasing the amount to be paid. While the move is yet to translate on the ground, trade associations have written to the Finance Secretary seeking relief. Experts warn that the move could impact recent government efforts to project a tax payer-friendly image. “This completely erodes their impartiality and independence, and creates a bias in favour of the IT Department in a quasi-judicial proceeding,” said a recent letter by trade associations to Finance Secretary Hasmukh Adhia. “Industry and stakeholders envisage that the functioning of the Commissioner of Income Tax (CIT) (Appeals) as an independent judicial authority will be severely affected.” The associations IMC Chamber of Commerce and Industry, Bombay Chartered Accountants’ Society (BCAS), Chartered Accountants’ Association Ahmedabad, Chartered Accountants’ Association Surat, Karnataka State Chartered Accountants’ Association and Lucknow Chartered Accountants’ Society have also sought a modification of the guidelines. “Since the directive has been issued recently, and there has been widespread resentment from tax professionals and trade bodies across India, we have yet to see any major impact on the ground,” said BCAS President Sunil Gabhawalla. But the directive is likely to have a trickle-down effect on the CITs and their subordinates, he said. The associations plan to write to the PMO and Finance Minister soon.

CBDT Action Plan

The Central Board of Direct Taxes (CBDT), in its Action Plan for FY19, had said CITs (Appeals) can get additional credits of two units for each quality order passed. “Quality cases would include cases where enhancement has been made, order has been strengthened, in the opinion of the Chief Commissioner of Income Tax or penalty has been levied by the CIT(A),” it had said. Other experts also said while the intent of the directive may be fair, its interpretation may differ. “If not followed in the true spirit of the guideline, it could mean that taxmen become over-zealous,” said one. However, tax officials insist the guideline is not a new development, but just a reminder. “It has been there for a long time. Reminders of duties cannot be taken as harassment,” said a former I-T official. Another official pointed out that the duty of the CIT (Appeals) is not only to provide relief, as is the popular perception, but to also review the enhancements and penalty. “He has the same powers as an assessing officer,” said the official, adding that tribunals will come down heavily if taxpayers are harassed.

Source: Business Line

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India extends reverse charge mechanism suspension by 1 yr

The Indian Government has extended the suspension of the reverse charge mechanism (RCM) on purchase of goods or services by registered dealers from unregistered dealers within the state till September 30 next year, according to the Central Board of Indirect Taxes and Customs (CBIC). The suspension was earlier valid till September 30 this year. With this, any registered dealer can purchase goods or services from unregistered dealers without paying goods and services tax (GST) under reverse charge till September 30 next year, according to Indian media reports. The suspension was earlier available till March 31, 2018, and then extended to June 2018 and then to September 30. Experts said the move will bring significant compliance relief to large businesses and encourage them to buy from unregistered dealers. (DS)

Source:Fibre2Fashion

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Grasim VSF revenue climbs 35% in Q1FY19

In the first quarter of fiscal 2018-19, the revenue of Grasim Industries from the viscose staple fibre (VSF) business has climbed 35 per cent to ₹2,480 crore and EBITDA has been recorded at ₹3,212 crore, up by 33 per cent. The VSF business has reported its highest ever quarterly production and sales volume of 134KT and 132KT respectively. The share of the domestic sales in the overall sales of VSF has risen to 82 per cent in the first quarter in comparison to 69 per cent in the first quarter of fiscal 2017-18.  This was primarily driven by expansion of the domestic market, aided by brand Liva initiative of the company. The debottlenecking of the VSF capacity at multiple plant locations is almost complete and is reflected in the production volumes of fiscal 2018-19. Grasim is committed to achieve global benchmarks in sustainability through close loop production/ European Union Best Available Technologies (EUBAT) technology. The company’s overseas pulp JVs registered an improvement in operational and financial performance on the back of strong pulp realization and a continued focus on cost optimisation. The recently announced brownfield capacity expansion plan of 219 KTPA at Vilayat is under implementation. Project related work has commenced with the placement of orders for long lead time equipments, Grasim said in a press release. The caustic soda prices in India moderated during the quarter led by temporary softening in global caustic soda prices. The underlying demand from the user industry (alumina and textile) continues to remain buoyant. In fiscal 2019, the VSF business will continue to focus on expanding the market in India by partnering with the textile value chain, achieving better customer connect through brand Liva and enriching the product mix through a larger share of specialty fibre.  However, new capacities likely to come on stream in China may impact the global VSF prices in the near term. The chemical business is witnessing a healthy growth with the completion of its recent capacity expansion. Further growth is expected from the new capex plan for caustic soda expansion and new product lines for specialty chemicals. (RR)

Source: Fibre2fashion

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Global Textile Raw Material Price 2018-08-15

Item

Price

Unit

Fluctuation

Date

PSF

1445.04

USD/Ton

0.30%

8/15/2018

VSF

2060.81

USD/Ton

0%

8/15/2018

ASF

3020.78

USD/Ton

0%

8/15/2018

Polyester POY

1604.79

USD/Ton

1.38%

8/15/2018

Nylon FDY

3383.86

USD/Ton

0%

8/15/2018

40D Spandex

5010.44

USD/Ton

0%

8/15/2018

Nylon POY

3195.06

USD/Ton

0%

8/15/2018

Acrylic Top 3D

1793.59

USD/Ton

1.23%

8/15/2018

Polyester FDY

3485.52

USD/Ton

0%

8/15/2018

Nylon DTY

5482.43

USD/Ton

0%

8/15/2018

Viscose Long Filament

1822.64

USD/Ton

0.80%

8/15/2018

Polyester DTY

3064.35

USD/Ton

0%

8/15/2018

10S OE Cotton Yarn

2108.01

USD/Ton

0%

8/15/2018

32S Cotton Carded Yarn

3497.14

USD/Ton

0.04%

8/15/2018

40S Cotton Combed Yarn

3931.38

USD/Ton

0%

8/15/2018

30S Spun Rayon Yarn

2744.85

USD/Ton

0.27%

8/15/2018

32S Polyester Yarn

2229.28

USD/Ton

0.33%

8/15/2018

45S T/C Yarn

2948.17

USD/Ton

0.50%

8/15/2018

40S Rayon Yarn

2396.30

USD/Ton

0%

8/15/2018

T/R Yarn 65/35 32S

2497.96

USD/Ton

0.58%

8/15/2018

45S Polyester Yarn

2904.60

USD/Ton

0%

8/15/2018

T/C Yarn 65/35 32S

2512.48

USD/Ton

0%

8/15/2018

10S Denim Fabric

1.35

USD/Meter

0%

8/15/2018

32S Twill Fabric

0.84

USD/Meter

0%

8/15/2018

40S Combed Poplin

1.16

USD/Meter

0%

8/15/2018

30S Rayon Fabric

0.65

USD/Meter

0.22%

8/15/2018

45S T/C Fabric

0.69

USD/Meter

0%

8/15/2018

Source: Global Textiles

Note: The above prices are Chinese Price (1 CNY = 0.14523 USD dtd. 15/8/2018). 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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Uzbekistan, China strengthen cooperation in textile industry

Tashkent hosted the Uzbek-Chinese business forum on cooperation in the textile industry with the participation of representatives of the textile industry of the two countries on August 15. The forum was organized by the Uztekstilprom Association in conjunction with the Chinese National Council for Textiles and Clothing, with the participation of the leadership of the State Committee of Uzbekistan for Investments, UzTrade JSC of the Foreign Trade Ministry, the Economy Ministry. The purpose of this forum was to establish cooperation between Uzbek and Chinese companies specializing in the textile and apparel-knitting industry, as well as the production and supply of finished textile products to the Chinese market. During the business forum, Chinese guests were provided with detailed information about the created opportunities and benefits, in particular for Chinese investors. Participants noted that two countries have great potential for further development of Uzbek-Chinese trade and economic cooperation. And this visit will serve as an additional incentive for Chinese investors to start their activities in Uzbekistan. The Chinese delegation included 33 representatives of China's associations and textile companies, in particular, the Subcommittee on Textile Industry, the Chinese Council for the Promotion of International Trade, the China National Clothing Association, the China Non-Woven Fabric and Industrial Textile Association, the Chinese Cotton Textile Association, the Chinese Association of Knitting Industry, Chinese Textile Information Center, 19 large companies from Shanghai, Qingdao, Nanyang Province, etc. In the course of the visit that lasted five days, the delegation got acquainted with the investment potential of the Bukhara, Kashkadarya, Samarkand and Syrdarya regions, visited enterprises with the participation of Chinese investments, “LT International” and  the Peng Sheng Industrial Park, the press service of the Uztekstilprom reported.

Source: Azernews

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Pak ministry invests in training textile sector workers

Pakistan’s ministry of commerce and textile industry is offering multiple training courses in different fields to enhance the capabilities of its workers to make the sector competitive. The streams include garments, fashion, apparel design, cutting for lingerie, line supervision and knitting machine operation, according to a senior government official. The ministry has also launched a skill development project in collaboration with the International Labour Organisation (ILO) and Canadian International Development Agency (CIDA), according to a news agency report. Four textile training institutes under the ministry—Pakistan Readymade Garment Training Institute (PRGTTI), Pakistan Knitwear Training Institute (PKTI) in Lahore , Pakistan Fashion and Apparel Design Institute (FADIN) in Karachi and SMA Rizvi Textile Institute (SMARTI) in Karachi— have been selected as partners for implementing the project. Around 600 workers will be trained over one and half years under the project. (DS)

Source: Fibre2fashion

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Iran to promote export of nano-tech products

TEHRAN – The Communication and Information Technology Ministry plans to promote export of nanotechnology products. The export of nano-tech products should be promoted since nanotechnology has a crucial role in improving efficiency, minister Mohammad Javad Azari Jahromi said on Monday, IRNA reported. Azari Jahromi and vice president for science and technology Sourena Sattari paid a visit to the Iran Nanotechnology Initiative Council on Monday. Azari Jahromi was assigned as the head of the Iran-Indonesia joint nanotechnology commission according to an agreement between the countries in 2016. “We should invest on countries like Indonesia and Malaysia and focus on special markets like medicine, petrochemistry or marine products,” he said. He urged the council to introduce the target companies in Indonesia and the ministry to facilitate the cooperation process. Azari Jahrom said that the ministry will do some negotiation with the ministry of industries and mining to boost nano-tech exports. Nanotechnology has a great capacity, which can be used in national products, he concluded. During their visit, the secretary of the council Saeid Sarkar elaborate on the role of nanotechnology in industry and trade in Iran and worldwide. The council began its activity since March 2017 and has already hold 15 trade meetings in different fields of medicine, health, car, marine industry and textile with Indonesian companies, he said. The council is now able to export antibacterial textile, masterbatch and compound, anti-fouling paint, anti-corrosion coating as well as anti-cancer drugs. Recognizing the great importance of nanotechnology, Iranians have had boosted researches in the field year on year. There are 257 companies active in this field, 33 percent of which working on nano-materials. These companies have manufactured 376 different products using the nontechnology, showing that this is a field with huge economic and practical advantages. These products are exported to 47 different countries.

Source: Tehran Times

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 ‘Ambitious’ database on SVHCs in articles needed – Beuc

European consumer group Beuc has called on Echa to take an "ambitious, forward-looking approach" to its forthcoming database on SVHCs in articles. The agency is required to generate the database as part of an amendment to Article 9 of the Waste Framework Directive, which obliges suppliers to notify Echa of the presence of SVHCs in articles. It entered into force in July. Companies will have until the end of 2020 to submit the information if they produce, import or sell articles that contain REACH candidate list substances. The obligation for producers and importers to notify of such substances present in their articles is not new, but according to Echa the number of such notifications "remains worryingly low".And in a recent paper, Beuc said consumers experience "severe difficulties" in accessing information about SVHCs present in products, as companies "rarely have sufficient knowledge" of their obligations under REACH Article 33(2). When developing the database, Beuc said, Echa should ensure that it is designed to correct these shortcomings. Efficient supply-chain communication is necessary for economic operators to implement appropriate risk management measures, and for suppliers to respond to consumer requests under Article 33(2), Beuc added. However, information on SVHCs in articles "remains woefully incomplete", it said. This situation "de facto curtails the consumer’s right to know, while also hampering" risk management of chemicals during waste recovery processes and the promotion of non-toxic materials cycles. Reinforcing compliance with REACH Article 7(2) and improving the availability of information on SVHCs in articles is therefore "crucial" for a successful circular EU economy, Beuc added. The organisation "strongly urges" Echa to develop the database with a view to achieving the general REACH objectives on candidate list substances, including their substitution with safer alternatives.

Recommendations

Beuc has recommended that Echa establishes a notification portal that will facilitate tracking of potential future candidate list substances. As "a minimum", it added, this should include substances falling within the definition(s) of substances of concern identified in the European Commission’s Communication on the interface between chemicals, product and waste legislation.

It also recommended that Echa:

  • ensures the database is accessible for consumers at the point of sale, including through an easy-to-use search interface. This interface, Beuc said, should aim to enable informed consumer choice by allowing comparisons across and within product groups or categories, such as furniture or textiles. Additionally, the database needs to provide consumers with sufficient information, presented in an appropriate format, to allow safe use of the article;
  • collaborates with the AskREACH project to ensure the two databases feed information into each other about SVHCs in products. Cooperation will strengthen both projects, Beuc added; and
  • promotes communication about SVHCs in articles across the supply chain. The database should require notification of SVHCs in articles at all steps of the supply chain – from initial manufacture to final sale and the waste phase. A technical solution can be found to handle possible duplicate notifications, Beuc said.

When transposing the revised Waste Framework Directive, Beuc said, member states should establish sufficient incentives, including clear dissuasive penalties, to ensure economic operators provide the information required by REACH to Echa. A harmonised approach to reporting information to the agency would be preferable, it added. Member states should use the information available in the database to guide their enforcement activities – to identify product groups or categories for systematic compliance checks, for example.

Source: Chemical Watch

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Govt assessing future impact of renewed sanctions on Iran

ISLAMABAD: The Ministry of Energy (MoE) has been asked to finalise its evaluation of the impact of US sanctions on Pakistan’s options for growth of economic relations with Iran, particularly in the energy sector. The task for coming come up with firm recommendations for future course of action was assigned to the MoE by the inter-ministerial meeting arranged by the Ministry of Foreign Affairs. The MoE’s recommendation would form part of the incoming government’s economic and trade relations abroad amid realignment of regional and international relationships among major global powers, particularly in the aftermath of US pulling out of nuclear deal with Iran, a senior official told Dawn. He said all friendly and brotherly nations including Iran and Saudi Arabia have shown keen interest in strengthening and reviving economic and trade relations with Pakistan after the recent victory of Imran Khan’s PTI in general elections and the foreign affairs ministry wanted to add maximum substance to the opening opportunities and challenges. At the centre of Pakistan-Iran relations is the energy sector cooperation, particularly the Iran-Pakistan (IP) gas pipeline worth about $7.5 billion that has remained stalled for five years of the PML-N tenure. Iran’s ambassador in Islamabad was among the first few foreign diplomats to have called on prime minister-in-waiting Imran Khan with the desire to strengthen relations. Meanwhile Saudi Arabia is holding out the prospect, since April this year, of long term financing arrangement of $4bn with Jeddah-based Islamic Development Bank for oil financing, starting current fiscal year. King Salman and Crown Prince Mohammad Bin Salman also directly called Mr Khan and promised to exchange top level visits. The official said key stakeholders had recently reviewed the latest situation arising out of US withdrawal from Joint Comprehensive Plan of Action (JCPOA) signed between Iran and the P5+1 (namely China, France, Germany, Russia, the UK and the US). The JCPOA signed in July 2015 was endorsed by the UNSC the same month that required Iran to limit its nuclear programme under International Atomic Energy Agency verification. President Donald Trump announced his decision to withdraw from the deal in May this year, and to restore nuclear sanctions against Iran. The EU, China and Russia are standing by the deal. The inter-ministerial meeting arranged by the foreign affairs ministry is understood to have discussed possible ramifications for Pakistan of the US decision to pull out of JCPOA and deteriorating bilateral relations between Islamabad and Washington. The official said Pakistan always wanted to have friendly relations with neighbouring Islamic nations through economic engagements that remained partly affected by US sanctions that also hampered implementation of IP gas pipeline and even normal bilateral trade. The official said the “re-imposition of unilateral sanctions by President Trump on Iran that also involved secondary sanctions on third countries with effect from August and November 2018 posed serious challenges going forward”. It was in this background that all the ministries and agencies concerned were advised to submit their detailed input along with expert opinions to devise “an independent future economic and trade policy towards Iran, keeping in mind fresh limitations”. It was also highlighted that the decision by China, Russia and European countries to side with Iran on JCPOA offered a window of opportunity for many. For example, while India had been warming up diplomatic relations with the Trump administration, it was the biggest importer of oil from Iran and had strengthened its strategic interests in Iran like building Chahbahar port and others. Iran and Pakistan share a friendlier rapport, yet this has failed to convert into a vibrant trade relationship. Iran’s oil rich economy of $427.6bn, suffered multiple economic sanctions that deeply hurt its economy. Pakistan’s trade with Iran is limited and has further reduced post 2010. As of 2017, Pakistan’s exports to Iran stood at $26.5 million while imports amounted to $327m. Pakistan’s main exports to the country include rice, paper and made-up textiles, while major imports from Iran were electrical energy, petroleum products and fruits and nuts. The trade could not flourish due to constraints of payment mechanism. Iran may not have the potential to meet Pakistan’s import requirements for any consumer products or industrial equipment, yet it does have the capacity to meet the fuel need which is otherwise imported from UAE and Saudi Arabia. On the export side, there is potential for Pakistan to increase its textile and rice exports to Iran. Former presidents Asif Ali Zardari and Ahmadinejad had performed the groundbreaking of IP on March 11, 2013 at Pak-Iran border of Gabd to deliver 750 million cubic feet of gas per day to Pakistan by January 2015. The project did not move forward as the PML-N government saw negative implications of possible return of US sanctions against Iran.

Source: The Dawn

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