Coimbatore : A majority of India’s textile and clothing exports are to countries with which there are no free trade or preferential trade agreements, said Aditi Das Rout, Trade Advisor, Ministry of Textiles. At a meeting organised here on Friday by the Indian Texpreneurs’ Federation, Ms. Rout said India’s textile and clothing exports are almost stagnant for the last five years. The top destinations for the textile and clothing exports from the country are the US and the European Union. Substantial exports are also to emerging markets such as the UAE, Bangladesh, and China. Nearly 63 % of the exports are to markets where there are no free trade agreements, she said. India has 10 Free Trade Agreements and six Preferential Trade Agreements. “We need to analyse why our trade has not performed despite the agreements,” she said. Such agreements look at various issues and compliances that prove expensive for the small and medium-scale businesses. The textile and clothing industry is largely fragmented and is with SMEs. Ms. Rout urged the industry to diversify into new markets and products, using branding as an effective tool, and invest to achieve economies of scale. The Ministry of Textiles plans to handhold SMEs with trend forecasting services and have display locations and warehouses in potential and emerging markets. This is to give the exports more visibility, she said. Keshav Chandra, Joint Secretary in the Union Ministry of Commerce, said the Government is working on a National Trade Portal. The first module of the portal is expected to be up and running from August-September next year. The portal will have four dimensions - logistics, online certification systems, financial systems, and compliances. The textile and clothing exporters are struggling to compete with countries such as Vietnam and Bangladesh. There is lack of nimbleness in the industry and Government. “We are not fast enough to see what the next option is,” he said. The official suggested having a focused group for each country and study the export-import trends and issues. The Indian Texpreneurs Federation presented a report on “Competition Analysis and Way Forward for FTAs for Indian Textile Sector”. The report says India faces competition from Pakistan mainly because Pakistan receives zero duty market access in EU. In general, the country’s textile and clothing exports have tariff disadvantage ranging from 1 % to 40 %.The way forward is to seek better market access under current FTA negotiations and have mutual recognition agreements with major export markets to combat impact of non-tariff barriers.
Source: Times of India
SHILLONG: The state will get Rs 7.8 crore from the Centre for setting up a textile tourism complex in Nongpoh. Minister of State for Textiles Ajay Tamta, who visited Shillong on Saturday, said the fund will be released within 15 days. The Union minister visited weaving centres and sericulture farm in the city where he interacted with weavers. Tamta said NBCC, a central public sector undertaking, has completed construction of a Rs 14-crore apparel centre in Ampati. The ministry will provide all infrastructure and machines to the centre “so that local garments can be exported throughout the world”, he informed, adding that plans are afoot to link the apparel centre with fashion designers. When asked about local weavers’ problems in the market, the minister said the state government has been asked to submit a proposal to set up cocoon banks in the state. “The centre has sanctioned as much as Rs 43 crore to Meghalaya under the Integrated Sericulture Developement Project and Intensive Bivoltine Sericulture Development Project. We gave new seeds and people learnt new technologies about breeding silkworm. Those who were producing one crop earlier are now producing three crops in a year,” Tamta said. The minister pointed out that production of mulberry, eri and muga has increased to 1,000 metric tonne from 500 MT before 2014. Around 65 per cent of the 50 lakh weavers in the country are in the North East.
Source: Sillicon Times
Nongpoh (Meghalaya): Minister of State for Textiles, Ajay Tamta on Saturday said that the Ministry would release Rs 7.8 crore for the construction of a textile tourism complex in Nongpoh, Ri-Bhoi district of Meghalaya. The Union Minister further informed that the funds would be released within 15 days. He visited various weaving centers in Shillong on Saturday and said that the NBCC has completed the construction of an apparel center worth Rs 14 crores in the state. Tamta even assured to provide all necessary infrastructure and machinery to the apparel centers so that local garments could be exported throughout the world.
Source: New Kerala
New Delhi : Export Promotion Council for Handicrafts (EPCH) has sought a 200-acre land from the Uttar Pradesh government for setting up a handicraft park on the Yamuna Expressway, which is expected to attract direct investments worth Rs 3,000 crore. The proposed industrial park shall house around 250-300 small and medium manufacturer exporters and provide a range of facilities including common facility centres, testing labs and raw material banks to boost their market competitiveness. It is expected to create 25,000-30,000 jobs. "It is requested to grant EPCH a land parcel of 200 acre under Yamuna Expressway Industrial Authority in line with the textile policy of the Centre, which mandates provision of land with price rebates of 30 per cent," EPCH said in a letter to the Infrastructure and Industrial Development Department of UP, earlier this month. EPCH Executive Director Rakesh Kumar said the proposed park would be shot in the arm for the handicraft sector of UP which is currently grappling with issues like high cost of credit, lack of access to modern technology, high cost raw materials. "The manufacturer exporters at the handicraft park would benefit from multiple synergies emanating from industrial park being in the vicinity of Eastern Dedicated Freight Corridor and India Exposition Mart. "The upcoming Jewar airport is also expected to give a major push to tourism and meetings, incentives, conferences and exhibition related visits in the region," Kumar told. EPCH seeks 200-acre land from UP govt for Handicraft Park said if the proposal does not go through with the UP government; EPCH may approach the Haryana government for setting up the handicraft park in the state.
Source: Time of India
Stressing on the need to strengthen institutions like IMF to tackle financial crisis, Economic Affairs Secretary S C Garg called for quota reforms so that share of emerging nations increases in line with their growing economic position. He also pointed out that protectionism, trade tensions and tightening of financial conditions are challenges for the world. In the context of these challenges, he said the time for building buffer and policy action by the emerging market economies is not there. “A suitable approach could be the association of the IMF (International Monetary Fund), being at the centre of the GFSN (global financial safety net), at an earlier stage rather than when crisis has already occurred. Hence, the strengthening of this Multilateral Institution is crucial,” he said. Speaking at 15th General Review of Quotas in Bali, Indonesia Saturday Garg said this agenda of IMF is urgent as there is a deadline fixed for its conclusion next year. “Both, enhancement in the Quantum of Quota Resources and Realignment of Voting Shares should take place so that Quota Shares of EMDCs (Emerging Market & Developing Countries) increase in line with its growing relative economic position in the world,” he said. Garg also participated in the 98th meeting of the Development Committee Plenary. He mentioned that India had supported the capital increase of the World Bank Group with the expectation that it will deliver on its core development responsibilities articulated in the Forward Look. The additional capital would be put to work expeditiously and leveraged to enhance International Bank for Reconstruction and Development (IBRD) lending volumes and International Finance Corporation (IFC) investments, he said. Pointing out severe flaws in Human Capital Index, Garg said it will not succeed in focusing the attention of the world on building the right kind of human capital, which new technologies will need. While welcoming the emphasis placed by the World Bank on building human capital, the secretory pointed out that he is not so certain about the Human Capital Index in its current form. The World Bank ranked India 115th among 157 countries in its first-ever Human Capital Index (HCI), drawing criticism from the Indian government. India’s neighbours Bangladesh, Nepal and Sri Lanka were better placed at 106th, 102nd and 74th position, respectively. The index took into account parameters like child mortality, health and education. Highlighting that digital technologies are transforming the very system of production of goods and services and their distribution, he said these technologies are in the process of changing the nature of the work and nature of ‘jobs’ as one knows. Garg mentioned that India has extensively used digital technologies to build FinTech, most prominently in the payment space. He said that the Aadhaar system is global scale and is serving India very well in advancing the FinTech agenda. In the context of debt build-up in low income countries, Garg said harnessing FinTech could also be one way to build fiscal efficiencies, better debt reporting and debt management.
Source: Financial Express
New Delhi : Amiti Sen Responding to the crisis faced by exporters due to a sharp dip in credit flow to the sector, the Finance Ministry has urged public sector banks (PSBs) to loosen their purse strings. “The liquidity crunch being faced by small exporters is a matter of concern for the government. The issue was discussed by the Commerce Ministry with the Finance Ministry, which will hold a meeting with public sector banks to direct them to lend more to exporters,” a government official told BusinessLine. One of the biggest challenges facing the sector right now is dwindling credit from the banking sector, said Ganesh Gupta, President, Federation of Indian Export Organisations (FIEO). “Even getting renewal of limits is taking abnormal time with huge documentation requirement,” he said. Export credit declined by 26.4 per cent in FY18 and 21.1 per cent in Q1 FY19, he added. It June, it touched a high of 42.7 per cent. The Prime Minister’s Office (PMO) has also expressed concern over the matter and wants the RBI and the Finance Ministry to explore if the export sector could be given priority status in terms of lending from banks, the official added. Under the guidelines, domestic and foreign banks with at least 20 branches are required to lend a minimum of 40 per cent of their total loans to the priority sector (agriculture, micro enterprises, education, social housing, etc).
Limited coverage
The priority sector norms already cover exports, though in a limited way. The RBI has stipulated that for units with a turnover of up to ₹100 crore, banks should provide incremental export credit over the corresponding date of the preceding year, up to 2 per cent of the total credit subject to a sanctioned limit of ₹25 crore per borrower. “Since the current provisioning does not cater to all exporters, there is a need to include exports in the priority sector as a whole,” the official said. Commerce Minister Suresh Prabhu has been trying to convince the RBI to extend priority sector status to the export sector for a while now. “Exports promote India’s interest and therefore it’s a strategic priority for India. But it’s not a priority lending sector for banks. This is a complete paradox,” he said at a recent event organised by gems and jewellery exporters.
Source : Business Line
The Tiruppur Exporters’ Association (TEA) has welcomed the recent Central Board of Indirect Taxes and Customs (CBIC) clarification that exporters claiming refund of integrated goods and services tax (IGST) paid on export of goods can get it even if they import capital goods under the Export Promotion of Capital Goods (EPCG) scheme, saying it is a great relief. TEA president Raja M Shanmugham said in a statement that despite the permission given for imports made under EPCG scheme, the relief has not been extended for imports (like fabrics) made under the Advance Authorization scheme. (DS)
Source: Fibre2fashion
Mumbai: Union Minister for Textiles Mrs. Smriti Zubin Irani this week had an interactive session with members of FICCI FLO Mumbai chapter on a variety of subjects including textiles and contribution of women towards economic growth of the nation. The Minister said that various schemes launched by the Government led by Prime Minister Mr. Narendra Modi have changed the lives of women in a very positive way. She said that around 80% of Indian women have benefited from the two schemes PM MUDRA Yojana and Startup India. Textile Minister noted that these schemes give opportunities to young lady entrepreneurs to start their own enterprise providing them adequate loan facility. She added that if this trend continues the MSME sector will emerge as a much bigger contributor to the national GDP. Mrs. Irani cited Ayushman Bharat PM Jan Arogya Yojana and Janani Suraksha Yojana as other schemes from which women have been benefiting significantly. Mrs. Irani was interviewed by Editor Fashion & Design Magazine Ms. Shefali Vasudevan.
Source: Tecoya Trend
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1535.61 |
USD/Ton |
0% |
10/14/2018 |
|
VSF |
2212.40 |
USD/Ton |
1.09% |
10/14/2018 |
|
ASF |
3004.77 |
USD/Ton |
0% |
10/14/2018 |
|
Polyester POY |
1625.18 |
USD/Ton |
0% |
10/14/2018 |
|
Nylon FDY |
3481.49 |
USD/Ton |
0% |
10/14/2018 |
|
40D Spandex |
4853.86 |
USD/Ton |
-1.75% |
10/14/2018 |
|
Nylon POY |
3178.12 |
USD/Ton |
0% |
10/14/2018 |
|
Acrylic Top 3D |
1784.08 |
USD/Ton |
0% |
10/14/2018 |
|
Polyester FDY |
3640.39 |
USD/Ton |
0% |
10/14/2018 |
|
Nylon DTY |
5460.59 |
USD/Ton |
0% |
10/14/2018 |
|
Viscose Long Filament |
1841.87 |
USD/Ton |
0% |
10/14/2018 |
|
Polyester DTY |
3235.90 |
USD/Ton |
0.22% |
10/14/2018 |
|
30S Spun Rayon Yarn |
2860.31 |
USD/Ton |
0% |
10/14/2018 |
|
32S Polyester Yarn |
2195.79 |
USD/Ton |
0% |
10/14/2018 |
|
45S T/C Yarn |
2975.88 |
USD/Ton |
0% |
10/14/2018 |
|
40S Rayon Yarn |
2340.25 |
USD/Ton |
0% |
10/14/2018 |
|
T/R Yarn 65/35 32S |
2542.50 |
USD/Ton |
0% |
10/14/2018 |
|
45S Polyester Yarn |
3163.67 |
USD/Ton |
0% |
10/14/2018 |
|
T/C Yarn 65/35 32S |
2686.96 |
USD/Ton |
0% |
10/14/2018 |
|
10S Denim Fabric |
1.35 |
USD/Meter |
-0.11% |
10/14/2018 |
|
32S Twill Fabric |
0.83 |
USD/Meter |
0% |
10/14/2018 |
|
40S Combed Poplin |
1.16 |
USD/Meter |
0% |
10/14/2018 |
|
30S Rayon Fabric |
0.66 |
USD/Meter |
0% |
10/14/2018 |
|
45S T/C Fabric |
0.70 |
USD/Meter |
0% |
10/14/2018 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.14446 USD dtd. 14/10/2018). The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Huntsman Textile Effects and Chemours are set to expand their long-term alliance in the area of durable water repellence (DWR). By combining the strengths of both companies in innovation, technical support, and marketing, the expanded co-operation unlocks the full potential of the alliance to develop and deliver new, sustainable DWR solutions and chemistry. The historical alliance that was established in the early 1990s has been at the forefront of delivering state-of-the-art solutions to the textile industry for durable water repellent effects. In addition to fluorinated solutions, the expanded alliance will now be able to offer non-fluorinated alternatives as well. The alliance will cover different aspects of the value chain including research, marketing, technical support, and manufacturing, Huntsman said in a media statement. Together, Huntsman Textile Effects and Chemours have worked to lead the textile industry’s transition from long-chain water repellent products to more environmentally friendly short-chain chemistry and, more recently, non-fluorinated chemistry. The collaboration has resulted in new, market-leading DWR solutions that deliver on performance and sustainability. “Strengthening the partnership between Huntsman Textile Effects and Chemours unlocks the full potential of both companies to shape technology and product offerings in sustainable durable water repellency. Our cooperation, which has stood the test of time, has clearly demonstrated that strong environmental credentials and performance can co-exist in equal measure. We are excited to move forward with a broader alliance as we strengthen our position as the industry leader in DWR textile solutions,” Jay Naidu, vice president, strategic marketing and planning, Huntsman Textile Effects said. “Chemours is excited to expand our partnership with Huntsman Textile Effects. This partnership reinforces our commitment to take a leadership role in the innovation and development of more sustainable and high performing products that address the rapidly evolving needs of the textile industry and the consumers that use these products,” Jesal Chopra, vice president, Chemours fluoropolymers said. In 2017, Huntsman Textile Effects introduced PHOBOTEX RSY non-fluorinated durable water repellent, which was developed to specifically meet extreme protection, comfort and durability requirements for both synthetic and cellulosic fibres, delivering an enhanced environmental profile for brands. PHOBOTEX RSY durable water repellent raises the bar in performance on synthetics, allowing brands to offer high-performance weather protection with an assurance of eco-friendly sustainability. Providing effective protection in extreme environments together with breathable comfort, PHOBOTEX RSY durable water repellent repulses rain, sleet, and snow, ideal for high- performance outerwear fabrics.
Source: Fibre2fashion
Minister of the Public Enterprise Sector Hisham Tawfiq announced on Saturday that a comprehensive development plan is underway for the spinning and weaving industry within the ministry’s companies is underway, to be implemented over three years. The plan will include development of cotton spinning companies through weaving, dyeing and processing, Tawfiq said. Tawfiq’s announced came during his Saturday visit to the Misr Spinning & Weaving Company in al-Mahalla al-Kubra City of the Holding Company for Cotton, Spinning, Weaving and Clothing, a company at the Ministry of Public Enterprise Sector. The minister explained that the company’s development plan aims to increase operational capacity in a single shift and increase the number of work shifts, thereby increasing production capacity. He said that the company would see large investments, particularly for the dyeing and processing stages. During his meeting with the company’s board of directors and representatives for the employees, Tawfiq stressed the need to improve the costing and pricing systems for the products, develop an effective marketing plan and open new export markets. He suggested raising awareness among workers about the development plan’s objectives, which positively reflects on the performance of the company and the employees. “We have to promote the textile and clothing industries to compete in the global market,” he said. Tawfiq also demanded to develop plans and urgently inventory the company’s machines, productive capacity and advancement of the company’s sectors in a timely manner according to a schedule proportionate with the ministry’s government program. He stressed the need to develop a plan to restructure and manage the assets of the company according to international and government standards, which is commensurate with the global and international economic and investment climate in the next stage.
Source: Egypt Independent
Mr Robert Ahomka-Lindsey, Deputy Minister for Trade, has said the introduction of tax stamps on textile products is meant to ensure discipline and revive the once vibrant local textile industry. Apart from facilitating the work of regulators including revenue authorities in checking the influx of unauthorised goods, the advanced security features would fight piracy, and help customers to make informed choices on products. Mr Ahomka-Lindsey was addressing a meeting with stakeholders at Denu in the Ketu South Municipality on the tax stamps, to be introduced on November 14, 2018. He said the Ministry would provide adequate space for sensitisation, and tour major business districts, including Takoradi, Accra, Kumasi, and Tarkwa, to help deepen understanding and compliance. The Minister said the stamps were going to be distributed free of charge, and would come in two different forms to make it easier to distinguish between locally-made and imported goods. He said a three-month window would be given to traders to clear existing stocks before the roll-out. Mr Ahomka-Lindsey added that the programme was in six major components, and included the establishment of a new import regime that was going to make the Tema Port the only entry point for imported textiles. The Ministry would also work with local textile manufacturers – build their capacities, and at the same time encourage foreign manufacturers to establish production centres in the country. The Deputy Minister said an import management committee had been formed and mandated to manage the importation of textiles, and underlined their determination to empower the reconstituted tax force to enforce laws in the sector. He called on all stakeholders, particularly, the border agencies to support efforts at securing for the nation its’ share of trade activities, for national development. Mr Kweku Boadu, Head of Corporate Affairs at Grascom Consortium, manufacturers of the stamps, said the stamps were being developed in close collaboration with stakeholders. These would feature a two-dimension bar code bearing real time data on the products. He said with a mobile based application, data on the stamps could be assessed by regulators and customers alike.
Source: Ghana
Islamabad: Textile and clothing exporters have appreciated government`s decision to introduce separate gas tariff for textile value chain. In joint statement, the exporters said the policies of the incumbent government have paved the way for the exporters to compete at the international level. They were of the view that the industry needs import state of the art machinery to become more productive and competitive.
Source: TNS.world
ISLAMABAD - An investment and business delegation led by senior government functionaries from Kingdom of Saudi Arabia will visit Pakistan by October 18 to negotiate on investment opportunities in different sectors. The investment and business delegation from KSA would negotiate with Pakistan side for increasing trade and investment in areas of petroleum, agriculture, textile and chemicals for enhancing cooperation between the two country, Secretary Commerce and textiles Muhammad Younas Dhaga told APP here on Sunday. “We proposed Free Trade Agreement (FTA) to Saudi Arabia for increasing trade and business relation between both nations and they are agreed to further negotiate FTA after study." The Secretary Commerce said the Pakistan had proposed KSA to sign Preferential Trade Agreement (PTA) before FTA to bring down the tariff lines between the two countries for enhancing trade and business relations. Replying to a question, he said: “We would achieve exports target and additional exports for economic development and prosperity.” He said the government was committed to enhancing exports and increasing manufacturing in engineering, textile, agriculture and chemical domains. The government, he said, would give priority to promotion of export-led growth and reduce dependence on imports, adding that it had identified many sectors to boost exports. “Primarily, we are focusing on increasing exports in engineering and Information Technology (IT), chemicals and innovative technology through enhancing their competitiveness in global market.” With regard to export promotion strategy, he said it would focus on increasing the country’s exports to compete with regional and global players in international market. He said special attention would also be given towards promotion of textile exports, particularly knitwear, apparel, garments, leather products and rice, besides, promoting furniture industry of the country which has great export potential. He said the government, in consultation with stakeholders, would devise comprehensive policy guidelines to promote textile and industrial exports.
Source: Nation.com
MANILA: The Philippines and the US have announced that they will start free trade negotiations in November in an effort to bolster bilateral economic ties. The agreement, if inked, will be the second such US engagement in with an ASEAN-member nation, the first being with Singapore. A Free Trade Agreement (FTA) with the US will give the Philippines another opportunity to attract investors and become a prominent business hub in the region, said Gamaliel Pascual, a former investment banker and consultant on international business and finance. However, entering into an FTA will also pose a great challenge for the Philippine Government to show its political will to do things with transparency and accountability. The Philippines and the US have already resolved issues related to the Trade and Investment Framework Agreement before commencing formal talks, confirmed Philippine Trade Secretary Ramon Lopez. The move comes amid uncertainty over security ties between the two countries as the administration of President Rodrigo Duterte pursues an independent foreign policy. “For the Philippines, a free trade agreement with the US would upgrade the current Generalized System of Preferences scheme wherein the US reviews zero-tariff privileges given to more than 3,000 Philippine products every three years,” an earlier report said. An FTA will give Philippines a more permanent trading arrangement with the US, according to Lopez. Lopez said he aims to “push footwear and garments as duty-free goods under the FTA” as Manila looks to revive its garments industry which has suffered greatly since 1995 as a result of the phaseout of the Multi-fiber Arrangement (MFA). The MFA was an international trade agreement on textiles and clothing that imposed quotas on the amount of clothing and textile exports from developing countries to developed countries. The system guaranteed the Philippines markets for its exports of textiles and garments. “We used to have that quota with the US, (which) was already removed, so we want to bring back ... the garments industry,” Lopez said. But for Pascual, as the Philippines enters into a free trade negotiation with the US it should start off by looking at America’s existing bilateral trade agreements with Mexico and Singapore. He pointed out to Arab News that both agreements explicitly state that anyone who wants to trade with America must conduct themselves according to the US Foreign Corrupt Practices. Pascual said a US-Philippines FTA will most likely follow the same template as the trade agreements with Mexico and Singapore. “The expectation is that this is not an ordinary FTA because if you look at the two templates, it’s having the same transparency and accountability as in the US in terms of doing business. That’s the treaty requirement we are looking at here,” Pascual said. The FTA, he continued, will give the Philippines another chance to become a prominent investment destination as it used to be back in 1950, 1965, and 1971. “Here’s another chance because the US is again changing its focus. It’s another cycle, the opportunity to attract and be prominent as an investment destination.” But, he stressed, the Philippines Government must be prepared and willing to do things exactly the way they do things in the West. “So the country has a choice. The US is, you want to say, imposing the Western way of doing business. And in the Western way of doing business (you have to follow) the standards, transparency, (and) accountability when you’re filing for a business permit.” When completed, that’s already a treaty obligation, Pascual said of the FTA. “So as I know, when you break a contract you get into a worse position so it’s better not to sign the treaty in the first place (if we do not have the political will),” he continued. But, he added: “If you show the political will, you can expect direct foreign investments like Singapore. Because up to now Singapore still gets 80 percent of all direct foreign investments into ASEAN ... simply because they follow transparency and accountability.” If that happens, “then we will do very well as a country,” Pascual added.
Source: Arab News
