The Federal Government has said the textile industry subsector requires very urgent revival to increase its contribution to the country’s Gross Domestic Product (GDP). The Minister of Science and Technology, Dr Ogbonnaya Onu, said this yesterday in Abuja during the 6th International Conference & 9th AGM of the Textile Researchers Association of Nigeria (TRAN). Represented by the ministry’s Permanent Secretary, Mr Bitrus Bako Nabasu, Dr Onu said in view of its underperformance, the textile industry in the country needed more intervention from both the public and private sectors. He said the Muhammadu Buhari-led administration was placing much emphasis on reviving the textile sector.“It is painful if one remembers that the textile sector was the mainstay of the Nigerian economy in the 1980s, providing jobs with a turnover, at the time, of over N8.9 billion, which represented more than 20% of our Gross Domestic Product. This explains why Buhari’s administration is placing much emphasis on reviving the textile sector,” the minister said. In his address, the Director General of Raw Materials Research and Development Council (RMRDC), Dr Hussaini Doko Ibrahim, said the textile sector when revived is capable of providing up to 700,000 jobs to Nigerians. He also said the sector could contribute as high as 25% to the country’s GDP if the right things were done to revive it. He said “the desired revival of the lost glory of the sector rests on the proactiveness of the stakeholders at both upstream and downstream of the value chain.”
Source: Daily Trust
The Crude Oil prices have been falling since the beginning of this month. The Crude Oil futures contract on the New York Mercantile Exchange (NYMEX) surged to a high of $77 per barrel on October 3 and has reversed sharply lower from there. The contract has tumbled over 7 per cent from the high and is trading around $71 per barrel. On the domestic front, the Crude Oil futures contract on the Multi Commodity Exchange (MCX) made a high of ₹5,669 per barrel and has come-off from there in tandem with the NYMEX prices. The MCX contract has fallen over 7 per cent and is currently trading at ₹5,235 per barrel.The fall in the oil prices over the last couple of week has turned the short-term outlook negative. The NYMEX-Crude Oil contract has a key resistance in the $72.80-$73 region. As long as it trades below this resistance region, a fall $69 or $68 is likely in the short term. The level of $68.3 – the 200-day moving average is a crucial support for the NYMEX contract. A strong break below it will increase the selling pressure. Such a break will then increase the likelihood of the fall extending to $65. On the other hand, if the contract manages to bounce from $68.3 and gains momentum, it can revisit $75 levels again. On the domestic front, the MCX-Crude Oil (₹5,235 per barrel) has resistance in the ₹5,450-₹5,500 region. While the contract remains below this ₹5,450-₹5,500 resistance region, a fall to ₹4,800 is possible in the coming days. Short-term traders with high risk appetite can go short at current level and also accumulate at ₹5,400. Stop-loss can be placed at ₹5,550 for the target of ₹4,800. Revise the stop-loss lower to ₹5,150 as soon as the contract moves down to ₹5,050.
Source: Financial Express
New Delhi : No country can benefit from the decline in the world trade, and the slowing global economy is a concern for all nations including India, Commerce and Industry Minister Suresh Prabhu said on Tuesday. For past six-seven decades, there was a lot of predictability in doing business globally, but in the course of last few months, “we are seeing a dramatic change in global trade,” he said. India is the “worst sufferer” of the declining trade and slow economic growth in the world as the country has huge stake and its share in the world trade is also increasing, he added. He stressed that slowing global economy is a concern for India as it has the potential to reach $5 trillion size before 2025 and $10 trillion before 2035. Imposing customs duties by the US on certain steel and aluminium products have triggered a trade war kind of situation in the world. It has also raised duties on Chinese goods. China too has hiked tariffs in retaliation. The statement also assumes significance as India’s exports declined for the first time in the current fiscal, contracting 2.15 per cent in September to $27.95 billion due to a fall in shipments of key sectors such as engineering and gems and jewellery. The World Trade Organisation (WTO) last month lowered the growth projections for trade to 3.9 per cent from the 4.4 per cent estimated earlier for 2018 due to trade tensions between the US and China. Prabhu said that the ministry has set up a high-level think tank to suggest the government to promote exports and navigate through these global situations. He said that the ministry has identified products and countries to promote exports. “We have also prepared a well thought action plan for achieving $5 trillion economy,” he said adding $ 1 trillion would come from manufacturing, $3 trillion from services sector and $ 1 trillion from agriculture. Talking about ease of doing business, the minister hinted that India has improved its ranking in the World bank’s doing business index. “You will have good news when World Bank will release its report,” he said. The report is scheduled to be released this month.
Source: Financial Express
Commerce and Industry Minister Suresh Prabhu has warned that the decline in world trade and slowing global economy will have an impact worldwide. Speaking at the 98th Annual Session of Assocham in Delhi today, Prabhu said that “India is the worst sufferer if the world trade does not grow” because “we have a huge stake, our share in global trade is increasing rapidly”. “For past six-seven decades, there was a lot of predictability in doing business globally, but in the course of last few months, we are seeing a dramatic change in global trade,” he said. He said that slowing global economy is a concern for India as it has potential to reach $ 5 trillion size before 2025 and $ 10 trillion before 2035. India is Asia’s third-largest economy. According to the government, the size of Indian economy will double to $ 5 trillion by 2022 with manufacturing and agriculture contributing $ 1 trillion each and services sector contributing remaining $ 3 trillion. Prabhu said that the country is at a stage where more growth will come from more production within India. He said that he has set up some top thinkers to navigate India out of “these new emerging trends and how we become winners despite these challenges”. The Minister said that to ensure India continues to grow at a fast pace, the government has already taken decisions and many are in the pipeline on how to improve business atmosphere in the country. He said that “you will have a good news when World Bank will release its report” on ease of doing business. The report is slated to be released by the World Bank later this month. “We have to ensure that India continues to be on the forefront of growth, not only to help our people but also to contribute to global growth. So, one country growing also helps other countries as a co-beneficiary,” he said. Prabhu, who also is the in charge for the Civil Aviation portfolio, said that his ministry is preparing a roadmap to push the manufacturing of aeroplanes in the country. He said that the country will require at least 1,000 aircraft as the aviation sector is expanding rapidly. “The government is readying a plan to manufacture aircraft locally,” the Minister added.
Source: Financial Express
The domestic currency rupee hit a 2-week high of 73.41 against US dollar on Wednesday morning. After closing at 73.48 yesterday, the rupee strengthened by 6 paise to 73.42 against the US dollar in early trade on Wednesday on increased selling After closing at 73.48 yesterday, the rupee strengthened by 6 paise to 73.42 against the US dollar in early trade on Wednesday. The domestic currency rupee hit a 2-week high of 73.41 against US dollar on Wednesday morning. After closing at 73.48 yesterday, the rupee strengthened by 6 paise to 73.42 against the US dollar in early trade on Wednesday on increased selling of the Us dollar by exporters and banks. The rupee’s gain was attributable to weakness in the dollar against some currencies overseas, forex dealers told PTI adding that a higher opening of domestic equity markets gave some support to the rupee. Earlier, the domestic equity markets continued their strong rally on Wednesday, tracking positive Asian market cues. The 30-share Sesnex zoomed 380 points on open, while the broader Nifty 50 opened above the 10,700-mark. Infosys share price rallied more than 2%, buoyed by the strong Q2 results announced yesterday. Also read: Share Market Live Updates: Sensex zooms 380 points; Nifty above 10,700; Infosys up 2%; RIL gains 1%According to Rushabh Maru, Research Analyst, Anand Rathi Shares and Stock Brokers, the rupee may touch the 75/$ mark by the end of October or mid-November. “For 2018-end, the rupee may touch 77 levels and by end of the current financial year the rupee may weaken to 80 levels,” Maru told FE Online recenlty. Yesdterday, Marc Faber, editor and publisher of The Gloom, Boom & Doom Report, said the rupee could hit 100 to the dollar over the next few years. In an interview to ET Now, Dr Doom said that India’s fiscal position is not particularly good. “Either India has to increase interest rate meaningfully or has to let the rupee depreciate over time,” Faber told the channel.
Source: Financial Express
The extra US tariffs on its imports from China in the ongoing trade war have opened a window of opportunity for India to push for higher exports in 171 items — ranging from textiles to marine products — with additional outbound shipment potential of up to $8.7 billion a year, according to a latest commerce ministry study. The Trump administration has announced extra levy of up to 25% on $250-billion Chinese supplies in two phases, which will make scores of Indian products more competitive than China’s in the US market. The first round of higher duties on $50-billion Chinese goods has created the space for India to tap the export window in close to three dozen items with potential annual supplies of $2.1 billion, sources told FE. Similarly, in the second round of duty increase, India has the scope to drive up exports in 135-171 items, with potential outbound shipments of $5-6.6 billion a year. These Chinese goods face additional American tariff of 10% up to end-December, after which it will be raised to 25%. The US is India’s largest merchandise export destination. Exports to the US touched $48 billion in 2017-18. The ministry held wide consultations with various export promotion councils in September for this purpose, said an industry source. However, the greater export opportunity can be exploited by India’s competitors as well, including Vietnam and even Bangladesh. A textile exporter said despite the extra impost, Chinese supplies of most items still remain more competitive than India’s. While the additional US levy impacts more than 7,000 tariff lines (products), in most cases, the American imports from China are not very significant. In some other tariff lines, the Indian supplies to the US are already too high to be scaled up even further, said the sources. The items where India can make inroads into the American market with greater vigour include shrimps and prawns, yarn, fabrics, man-made filament, copper and products made of such base metals, steel and iron products, garlic, berries, sugar confections, oilcake, distillate fuel oil, organic compounds, certain plastic, leather, rubber and wooden products. India has been seeking fresh avenues to boost exports in recent months to trim a trade imbalance that has worsened its current account deficit (CAD) and pressured the rupee. While the tariff tussles between the US and others (China in particular) has created an opportunity for Indian exporters to tap, the general damaging impact of the trade war on global economic and trade growth may outweigh any possible gains, analysts have said. Still, unless the potential isn’t exploited, the trade gap may even worsen further, they added. India’s CAD is expected to worsen to 3% of GDP, against 1.9% in 2017-18, according to IMF. The rupee, too, has depreciated around 14% against the dollar in the past one year. The commerce ministry has already conducted a similar study to assess potential for higher exports to China following the trade tussles between the top two economies. Of the American goods on which Beijing has imposed extra duties in the range of 15-25%, India can ship out more in case of 44 items without much difficulty, as it currently has access to the Chinese market in these products. In case of 17 items where American supplies are substantial, India doesn’t have market access; so, it can export these items only if it can persuade China to open up further. India made up for just 2.8% of US goods trade deficit in 2017 and occupied the 9th spot in the list of nations with which the Trump administration seeks to pursue a trade balance agenda. However, India is the only major country whose goods trade surplus with the US narrowed in 2017 — a fact New Delhi has been highlighting in its talks with Washington. India’s goods trade surplus with the US narrowed 6% in 2017 to $22.9 billion. Between January and July, the surplus dropped even further to $11.1 billion from $12.4 billion a year before.
Source: Financial Express
India’s annual rate of inflation, based on monthly wholesale price index (WPI), stood at 5.13 per cent for the month of September 2018 over same month of last year. The index for apparel declined by 0.4 per cent to 138.6 in September, according to the provisional data released by the Office of the Economic Adviser, ministry of commerce and industry. The official WPI for all commodities (Base: 2011-12 = 100) for the month of September 2018 rose by 0.7 per cent to 120.8 from the previous month’s level of 120.0, the data showed. The index for manufactured products (weight 64.23 per cent) for September 2018 rose by 0.6 per cent to 118.5 from 117.8 for the previous month. The index for ‘Manufacture of Wearing Apparel’ sub-group declined by 0.4 per cent to 138.6 from 139.1 for the previous month due to lower price of knitted and crocheted apparel (1 per cent). The index for ‘Manufacture of Textiles’ sub-group also rose by 1.1 per cent to 118.9 from 117.6 for the previous month due to higher price of synthetic yarn and woollen yarn (4 per cent each), texturised & twisted yarn, manufacture of other textiles and manufacture of made-up textile articles, except apparel (2 per cent each) and viscose yarn, manufacture of cordage, rope, twine & netting and cotton yarn (1 per cent each). However, the price of knitted & crocheted fabrics (1 per cent) declined. The index for primary articles (weight 22.62 per cent) rose by 0.2 per cent to 135.4 from 135.1 for the previous month. The index for fuel and power (weight 13.15 per cent) also rose by 2.2 per cent to 107.2 from 104.9 for the previous month due to higher price of lube oils, naphtha, HSD, petrol, LPG, furnace oil, bitumen, kerosene and ATF. However, the price of petroleum coke declined. Meanwhile, the all-India consumer price index (CPI) on base 2012=100 stood at 3.77 (provisional) in September 2018 compared to 3.69 (final) in August, 2018 and 3.28 in September, 2017, according to the Central Statistics Office, ministry of statistics and programme implementation. (RKS)
Source: Fibre2fashion
NEW DELHI: Oil minister Dharmendra Pradhan Tuesday said the government does not interfere in the pricing of petroleum products which had been deregulated, allowing state-owned retailers to fix rates based on the international benchmark. The comment came as criticism mounted on the move by the government to ask state-owned oil PSUs to subsidise petrol and diesel by Re 1 per litre to make retail price cut look bigger after it cut excise duty on the fuels by Rs 1.50 a litre. Global oil major BP, which secured a licence to open petrol pumps in the country but hasn't started fuel retailing yet, Monday said: "Price controls will not be good for the fuel sector." BP chief executive Bob Dudley said slow decision-making had in the past curbed its investment in the country and was not good for "brand India"."The government has no business to interfere in pricing mechanism of petroleum products which has been left to the oil companies to decide on a daily basis," Pradhan told reporters on sidelines of the 'India Energy Forum' here. The government, he said, has a role in taxation and it had on October 5 cut excise duty by Rs 1.50 per litre. This coupled with Re 1 per litre subsidy by oil PSUs took the reduction in retail rates to Rs 2.50 per litre. However, the relentless price hike has wiped away all cut benefits on diesel and most on petrol. Petrol price Tuesday was raised by 11 paise a litre and diesel by 23 paise, according to a price notification issued by state-owned fuel retailers. In Delhi, petrol now costs Rs 82.83 per litre and diesel is priced at Rs 75.69. In the past 11 days, diesel prices have risen by Rs 2.74 per litre, more than wiping away the excise duty cut and oil firm subsidy. Petrol price has during the period risen by Rs 1.33 per litre. Before the October 5 price cut, petrol in Delhi had hit an all-time high of Rs 84 per litre and diesel was at record Rs 75.45. This came down to Rs 81.50 per litre for petrol and Rs 72.95 in case of diesel on October 4. Pradhan said the government had asked state governments to match the Rs 2.50 per litre cut in prices announced by the Centre with a similar reduction in local sales tax or VAT. "Some states have done it. Some like Delhi haven't. You should ask them why they haven't," he said. After the Centre cut excise duty by Rs 1.50 per litre and asked PSU oil firms to subsidise fuel by Re 1, Maharashtra and Gujarat governments were among the first to announce a matching Rs 2.50 cut. They were later joined by Chhattisgarh, Jharkhand, Tripura, Uttar Pradesh, Madhya Pradesh, Himachal Pradesh, Haryana, Assam, Uttarakhand, Goa, Arunachal Pradesh and Bihar with similar moves. Jammu and Kashmir, which is under the governor's rule, too reduced the tax on the two fuel. Maharashtra, however, reduced VAT only on petrol and not on diesel. Even before the excise duty cut, Rajasthan, West Bengal, Karnataka, Kerala and Andhra Pradesh had last month reduced VAT to cushion consumers for a spate of price increases. In Mumbai, petrol on Tuesday was priced at Rs 88.29 per litre, down from a peak of Rs 91.34 hit on October 4. A litre of diesel in the city costs Rs 79.35, a shade lower than Rs 80.10 record high hit on October 4.
Source: Economic Times
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1546.15 |
USD/Ton |
0% |
10/16/2018 |
|
VSF |
2213.02 |
USD/Ton |
0% |
10/16/2018 |
|
ASF |
3014.99 |
USD/Ton |
0% |
10/16/2018 |
|
Polyester POY |
1622.01 |
USD/Ton |
0% |
10/16/2018 |
|
Nylon FDY |
3482.45 |
USD/Ton |
0% |
10/16/2018 |
|
40D Spandex |
4855.20 |
USD/Ton |
0% |
10/16/2018 |
|
Nylon POY |
3179.00 |
USD/Ton |
0% |
10/16/2018 |
|
Acrylic Top 3D |
1784.58 |
USD/Ton |
0% |
10/16/2018 |
|
Polyester FDY |
3641.40 |
USD/Ton |
0% |
10/16/2018 |
|
Nylon DTY |
5462.10 |
USD/Ton |
0% |
10/16/2018 |
|
Viscose Long Filament |
1842.38 |
USD/Ton |
0% |
10/16/2018 |
|
Polyester DTY |
3236.80 |
USD/Ton |
0% |
10/16/2018 |
|
30S Spun Rayon Yarn |
2861.10 |
USD/Ton |
0% |
10/16/2018 |
|
32S Polyester Yarn |
2189.18 |
USD/Ton |
-0.33% |
10/16/2018 |
|
45S T/C Yarn |
2976.70 |
USD/Ton |
0% |
10/16/2018 |
|
40S Rayon Yarn |
2687.70 |
USD/Ton |
0% |
10/16/2018 |
|
T/R Yarn 65/35 32S |
2340.90 |
USD/Ton |
0% |
10/16/2018 |
|
45S Polyester Yarn |
2543.20 |
USD/Ton |
0% |
10/16/2018 |
|
T/C Yarn 65/35 32S |
3164.55 |
USD/Ton |
0% |
10/16/2018 |
|
10S Denim Fabric |
1.35 |
USD/Meter |
0% |
10/16/2018 |
|
32S Twill Fabric |
0.83 |
USD/Meter |
-0.17% |
10/16/2018 |
|
40S Combed Poplin |
1.16 |
USD/Meter |
0% |
10/16/2018 |
|
30S Rayon Fabric |
0.66 |
USD/Meter |
0% |
10/16/2018 |
|
45S T/C Fabric |
0.70 |
USD/Meter |
0% |
10/16/2018 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.14450 USD dtd. 16/10/2018). The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Washington : The head of an influential business advocacy on Indo-US ties has warned that forgoing a trade deal between the two countries will force the Trump administration to consider alternatives. Observing that relationship does not work in silos, Mukesh Aghi, president of US-India Strategic and Partnership Forum (USISPF), said the alternatives could start with the suspension of Generalised System of Preferences (GSP) benefits and end with trade skirmishes over Twitter that hurt both the economies. Last week, White House chief economic advisor Larry Kudlow said that discussions on a trade deal with India has begun. But he did not give any details. In recent weeks, President Donald Trump has said that India wants a trade deal with India and accused New Delhi of having excess of tariffs. “Forgoing a trade deal will force the US government to consider alternatives, which could start with the suspension of GSP benefits and could end with trade skirmishes over Twitter that hurt both economies,” Aghi told PTI. Asked what will happen to India if there is no trade deal, Aghi said: “At the very least, negative signals will be sent to the current and potential investors. Some will claim that the failed deal shows that India won’t budge on thorny issues that make it an unprofitable investment destination”. Not having a trade deal would might strain India-US relationship. “In the middle, there could be potential sanctions over Iranian oil and CAATSA. We want to avoid this route. We believe it is important to get these relatively minor differences resolved so that we can move on to a more productive dialogue,” said the USISPF president. Observing that some feel that one can deal with trade in one compartment and the strategic relationship in another, Aghi asserted that relationships don’t work in silos. “The highest levels of both governments are required to be present in order to sign off on big trade deals. If either side sours on such a deal, it will spill over into the strategic side of the relationship,” he said. Recently, so much has been accomplished on the strategic side of the US-India relationship from the CAATSA waiver that made it through the US Congress to the signing of COMCASA at the 2+2 Dialogue. “The two sides should keep this positive momentum by inking a trade deal,” he said. Formed a little over a year ago, the USISPF has been playing a significant role in fostering a robust and dynamic India-US relationship through policy advocacy that will lead to driving economic growth, entrepreneurship, employment-creation, and innovation to create a more inclusive society. He replied in negative when asked if a deeper defence relationship with the US threatens India’s strategic autonomy. “No, unlike other countries in the region, the United States is not making a play for control through its relationship with India,” he said. The United States’ stated mission is a free and open Indo-Pacific. Pushing for a stronger India, as a balance against a more aggressive China, has been the goal of the United States under decades of administrations, despite party or political views, Aghi said. “The US is the one trustworthy companion that can help India counter threats in its region and ultimately foster a more secure world for us all. “If you look at the other options, Russia cannot be trusted to supply and maintain defence equipment without demanding additional deals. China brings the possibility of border skirmishes as a constant threat and the Belt and Road Initiative as a long-term concern,” he said. A deeper defence relationship with the US provides India with extra insurance as China buys influence and strategic outposts from India’s neighbours, Aghi added.
Source : Financial Express
Arrow Digital has recently installed the high speed state of the art EFI Reggiani Renoir Next 340 at Macromedia Digital Imaging, Hyderabad. Macromedia has installed the Reggiani to cater the digital soft signage and textile demands of corporates and high profile customers. Macromedia is a leader in providing complete end-to-end out of home (OOH) solutions. “We have added the Reggiani to our portfolio to fulfil the ongoing soft signage demands and to extend our portfolio to exhibition backdrops, light boxes, flags, building wraps, tear drops, tents, durable outdoor advertising materials, and much more. As the demand for Green Technologies and products is booming, this printer addresses all the needs and demands of our high profile customers. With the high speed and no compromise on quality, we will hit the maximum demands of our corporate customers and brands, and be way ahead of the competition,” Naresh Kumar Dasari from Macromedia said in a press release by Arrow Digital. The EFI Reggiani Renoir Next 340 textile printer is ideal value for aggressively developing and driving more profitability into soft-signage operations. Users can print dazzling displays, high-density backlit signs, and more with ultra-high resolution four-color printing. They can print direct to textile or indirect via transfer process, leveraging the type of versatility that allows for more jobs on different materials including economical or lower- cost substrates. Users can create soft signs and fabric displays that retain the drape and soft hand customers prefer. They can produce graphics that can be washed and dried without wrinkling, folded without leaving marks, and can be reused. It provides dramatic 4-color printing with a wide colour gamut and deep colour saturation for exceptional fabric display graphics. It also gives ultra-high resolution up to 2400 dpi and four level grayscale printing with 4pL to 18pL drop sizes. The printer is ideal for the production of flags, banners, backlit displays, and other high-end display graphics. Other features include auto print head cleaning station to increase printer uptime; capping station to keep the system up and running; patented ink recirculation system for improved ink yield; wrinkle-detect system to protect against costly repairs due to head strikes. The water-based inks help to reduce environmental footprint. “We will now be able to work with lightweight, textile-based materials that offer environmental and logistical benefits, including easy and economical delivery and installation. The ultra-high resolution, deep colour saturation, sharper, richer blacks amazed us. The colours are indeed very vibrant and appeared as if it was painted on the fabric which help in back lit applications. Having Arrow Digital as our partner gave us immense confidence to move forward with this cutting edge technology along with many other printers at Macromedia Pan India. Arrow’s knowledge in dye sublimation and digital textile applications has helped us move forward sooner than later and look forward to adding more green technologies and products in the near future to drive our growth,” Dasari said. (GK)
Source:Fibre2Fashion
Around 130 Italian companies from ACIMIT are taking part in the ongoing ITMA Asia + CITME 2018 expo, at the Industry Information Hub – Association Village, in hall 1, stand F58. The international textile machinery exhibition is being held from October 15-19, 2018, in Shanghai, China. ACIMIT is the Association of Italian Textile Machinery Manufacturers. Of these, 63 manufacturers are presenting their technology offerings within National Sector Groups organised by ACIMIT and the ICE-Agency. The total exhibition surface area occupied by Italian businesses amounts to roughly 6,300 square metres, placing Italy among the main exhibiting nations at the event, according to a press release by ACIMIT. “Prospects for the Chinese market remain positive, in spite of the fact that the demand for foreign machinery from local textile manufacturers for this first half of the year has been rather slow. The trust our machinery manufacturers have placed in China is abundantly apparent in the large number of Italian exhibitors present in Shanghai. Italy is among the most highly ranked foreign countries in terms of the number of exhibiting companies,” ACIMIT president Alessandro Zucchi said.The demand for machinery in China is focused primarily on technologies capable of combining savings in production costs with environmental sustainability. China’s textile industry is just as sensitive to innovative solutions that can respond to the market’s changing demands; that is, fast time-to-market and just-in-time production. Italy, with its high-tech and eco-friendly manufacturers, is one of the most important player in the textile machinery industry. Italian high-quality machines will foster China textile industry’s quality and will provide environmental conservation. China is implementing policies for the reduction of carbon emissions with new measures for low carbon economy, low energy consumption, low-pollution, one of the future choices in the economic development. In Eastern China, there are the top three provinces for textile and garment industry: Zhejiang, Jiangsu, and Fujian, that along with the provinces Guangdong and Shandong reach around 80 per cent of the industry’s production capability. Italy remains one of the leading suppliers of textile machinery in China: for cleaning, dyeing and finishing machines, knitting, stitch-bond, lace, and auxiliary machinery, according to Massimiliano Tremiterra, Italian trade commissioner in Shanghai. (GK)
Source:Fibre2Fashion
YANGON – Protesting garment workers in Myanmar are believed to have been injured outside a factory which, it is claimed, has supplied German retailer Lidl and UK fashion brand Joules, as tensions continue to flare in the beleaguered nation. Myanmar’s domestic political situation has long been in a state of flux, with one of its largest export markets – the textile sector – now seeming in a more precarious position than ever before, with the European Union said to be considering the reintroduction of trade sanctions. April of this year saw new guidelines introduced by the Myanmar Ministry of Labour, Immigration and Population to ensure the welfare of the nation’s garment workers; an initiative which it is now hard to assume has been a success.
Source: Fibre2fashion
Both buyers and exhibitors reported a positive mood and good business at UK fabric trade show Textile Forum’s most recent edition, despite Brexit lingering on everyone’s minds. Most attendees at the two-day event on 10-11 October at London’s One Marylebone came from the UK, although there were some international visitors in attendance from the US, Scandinavia and Africa. The mood among both exhibitors and buyers was described as optimistic by Laurent Garigue, owner of the eponymous fabric manufacturer. “We are a resilient bunch, the textile community, forever forward thinking,” he told Drapers. “It was surprisingly upbeat at the show. People were eager and professional, and we took orders.” Nailya Belkacemi, managing director at high-end garment manufacturer Plus Samples, said a change in clientele at the show this season benefited them: “In the past it used to be mostly bridal boutiques and luxury eveningwear buyers visiting the show, but there were a lot of new designers attending who want ethical manufacturing with a low carbon footprint and recycled materials. It’s great to see people taking a more resourceful approach to fashion.”
Buyers were similarly upbeat about the show.
Paul Bernstock, co-owner of milliner Bernstock Speirs, said: “We were very happy with the show this season. We’ve been going for years and you see a lot of the same exhibitors who are there each season, but we actually found some new things this time around.” Bridal designer Nicola Harvey-Rowley, who has been attending since the show started in 2002, added: “I bought quite a lot this season. We’re always looking for something new. This season we found some beautiful fabrics from José María Ruiz, a Spanish company. Michael’s Bridal Fabrics, Carrington and Litmans also had great stock. Obviously, the conversation is all about Brexit at the moment. I think we all just want it to be sorted so we can move on with our lives and businesses.” Julie Greenough, marketing manager for the Yorkshire-based woollen mill AW Hainsworth, said: “Business is definitely a little bit slower because there’s a big question around Brexit. People are taking longer to make decisions. The good thing is that a lot of buyers want to work with British companies, buy British fabrics and be British made.”
Source: Draperonline.com
