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MARKET WATCH 02 NOV, 2018

NATIONAL

INTERNATIONAL

50 Indian items hit as US scraps duty-free privilege on 90 products' import

Washington : The US on Thursday revoked duty-free concessions on import of at least 50 Indian products, mostly from handloom and agriculture sectors, reflecting the Trump administration's tough stand on trade-related issues with New Delhi. The federal register issued a notification, listing out 90 products which were so far subject to duty-free provisions under the Generalized System of Preferences (GSP). President Donald Trump issued a presidential proclamation on Tuesday, leading to the removal of these products from the privilege beginning November 1. As of November 1, these products "will no longer qualify for duty-free preferences under the GSP programme but may continue to be imported subject to regular Most Favored Nation duty-rates," an official of US Trade Representative told PTI. A review of the products indicates that the presidential proclamation is not country-specific, but product specific. With India being the largest beneficiary of the GSP, it has been hit the most by the latest decision of the Trump administration. The GSP, the largest and oldest US trade preference programme, is designed to promote economic development by allowing duty-free entry for thousands of products from designated beneficiary countries. A count of these products indicated that at least 50 of them are from India. Notably, India is the largest beneficiary of the GSP. In 2017, India's duty-free export to the US under the GSP was to the tune of more than $5.6 billion. The volume of India's export to the US impacted by the latest move of the Trump administration is not known yet, but the list of products from which duty-free import provision has been removed reflects that a large number of small and medium-size business could be impacted, in particular handloom and agricultural sector. In his presidential proclamation, Trump said that certain 'de minimis' waivers will no longer be granted for any product, regardless of the country source, that exceeds the GSP's Competitive Need Limitation (CNL) thresholds. The CNL thresholds are quantitative ceilings on GSP benefits for each product and designated beneficiary country. Trump said he had determined in 2017 certain beneficiary developing countries exported eligible articles in quantities exceeding the applicable competitive-need limitations. "I hereby terminate the duty-free treatment for such articles from such beneficiary developing countries," he said. Products from other countries like Argentina, Brazil, Thailand, Suriname, Pakistan, Turkey, the Philippines, Ecuador and Indonesia have also been removed from the GSP list. Some of the prominent Indian products removed from the duty-free provisions of the GSP include dried pigeon pea seed; areca nuts, fresh or dried, in shell; turpentine gum; mangoes, prepared or preserved by vinegar or acetic acid; sandstone, merely cut into blocks or slabs of a rectangular (including square) shape; tin chlorides; barium chlorides; salts and esters of tartaric acid, nesoi; and trimethyl phosphite. Full grain unsplit or grain split buffalo hide or skin; grain split whole buffalo leather, without hair on; whole buffalo skin leather (not full grain unsplits/grain splits); and full grain unsplit buffalo leather (not whole), have also been removed from the duty-free the GSP list. Dyed, plain weave certified hand-loomed fabrics of cotton, containing 85 per cent or more cotton by weight; plain weave certified hand-loomed fabrics of cotton, containing 85 per cent or more cotton by weight, hand-loomed carpet and other textile floor coverings, not of pile construction, woven, made up of man-made textile materials have also been removed. Base metal clad with gold mixed link necklaces and neck chains and keyboard musical instruments, like harmoniums and similar keyboard instruments with free metal reeds are among the other products. These products can still be exported to the US from India but they will be subject to regular tariffs. In April, the US announced eligibility review of India for the GSP. According to the USTR, the total US imports under GSP in 2017 was $21.2 billion, of which India was the biggest beneficiary with $5.6 billion, followed by Thailand ($4.2 billion) and Brazil ($2.5 billion). The programme has now been renewed through December 31, 2020. FICCI in a submission to the USTR had said that the termination of the GSP would be contrary to the legislative objective and the history of the Trade Reform Act of 1974 of furthering the economic development of developing countries. It would cause significant distress to the export-oriented sector leading to increased cost for US industries that use products under the GSP, it said. In June, India urged the Trump administration not to withdraw it from the GSP.

Source: Business Standard

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US withdraws duty benefits on Indian exports worth $75 Million

Indian exports of certain musical instruments, leather, textiles, dairy, chemicals and processed fruits and vegetables to the US will no longer enjoy duty-free access, with the Trump administration withdrawing such concessions effective November 1. The annual exports of these items to the US is estimated at about $75 million.“in 2017 certain beneficiary developing countries exported eligible articles in quantities exceeding the applicable competitive-need limitations. I hereby terminate the duty-free treatment for such articles from such beneficiary developing countries,” US President Donald Trump said in a presidential directive dated October 30. Other countries that have had duty concessions withdrawn by the US include Thailand, Argentina, Pakistan, Turkey, the Philippines, Brazil, Suriname, Belize, Ecuador, Falkland Islands, Kazakhstan, Egypt and Bosnia and Herzegovina. However, the number of Indian products affected, at 50, is the highest. The benefits are given to developing countries under the Generalized System of Preferences. India, which gets $5.6 billion duty concessions through the programme, is the largest beneficiary. Total US imports under GSP in 2017 were worth $21.2 billion. However, officials and experts said this is an annual exercise that is not aimed at any particular country. “They review products every year, as per their law. This is a product-specific step, not country-specific,” said an official aware of the move. The US said in April it would review preferential or dutyfree access to its market for India’s exports including mechanical and electrical machinery, organic and inorganic chemicals, plastics and vegetables. The review will impact almost 3,500 Indian products exported to the US. “There is a review of the limit every year because GSP is not reciprocal and the US does not get anything in return,” said a trade expert. The competitive-need limitations are built-in import ceilings to curb duty-free access to the US market for products and countries that might not otherwise be “competitive.” The GSP statutes require termination of GSP benefits for products if they account for 50% or more of the value of total US imports of that product or exceed a certain dollar value. This value was $145 million in 2010 and increased by $5 million per year.

Source: Economic Times

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Smart Textiles - Designing the Future OF Fabrics Will Blow Your Mind

Smart textiles are fabrics that have been designed and manufactured to include technologies that provide the wearer with increased functionality. They help to measure physiological parameters such as temperature, heart rate, and blood pressure. These fabrics have wide range applications such as the ability to interact with other devices, conduct energy, and protect the wearer from environmental hazards. Major factor driving growth of the global market is use of smart textiles in military and defense sector. For instance, smart textile can change colour to produce camouflage effects for protection. However, high costs associated with electronic wearable technology is a key factor restraining growth of the global market in the near future. Ongoing trend observed in this market is the integration of bluetooth low energy (BLE) technology for smart textile development. Smart textiles involving this technology can monitor and validate various data using an internet connection. In addition, BLE technology has lower power consumption.

Source: CSO.com

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Rupee vaults 50 paise to 73.45 against dollar

Mumbai: The rupee rallied by 50 paise to close at 73.45 against the US dollar Thursday, posting its biggest single-session spurt in three weeks on increased selling of the greenback by exporters, softening crude oil prices and upbeat economic numbers. Easing of concerns over the rift between the government and the Reserve Bank of India (RBI) also supported the rupee's recovery, forex dealers said. At the Interbank Foreign Exchange (Forex) market, the domestic unit opened higher at 73.88, then gained further ground and settled for the day at 73.45, registering a jump of 50 paise. On Wednesday, the rupee had plunged 27 paise to close at a nearly three-week low of 73.95 as the dollar strengthened against major global currencies amid steady capital outflows. The Finance Ministry Wednesday said the government has "nurtured and respected" autonomy of the central bank and has been holding extensive consultations with it on many issues. On the economy front, the Goods and Services Tax (GST) collections for October crossed Rs 1-lakh crore mark, while India leapfrogged 23 places to the 77th rank in World Bank's latest Ease of Doing Business rankings. Manufacturing PMI also strengthened in October as firms scaled up production and employment amid strong rise in new business order flows. "Rupee reacted positively with a sharp appreciation of 50 paise against the dollar. Today's gain is the highest one day gain for rupee against dollar since October 12, 2018," said V K Sharma, Head PCG & Capital Markets Group, HDFC Securities. Crude oil prices moderated amid increase in supply and growing concerns that demand might weaken on the prospect of a global economic slowdown. Brent crude, the international benchmark, was trading 0.95 per cent lower at USD 74.33 per barrel. Meanwhile, foreign funds pulled out Rs 193.65 crore from the capital markets on a net basis Wednesday, while domestic institutional investors bought shares worth Rs 1,124.92 crore, provisional data showed. The BSE Sensex erased all gains in a highly volatile session Thursday and finally settled 10.08 points, or 0.03 per cent, lower at 34,431.97. The NSE Nifty, after shuttling between 10,441.90 and 10,341.90, ended 6.15 points, or 0.06 per cent down at 10,380.45. The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 73.8295 and for rupee/euro at 83.7261. The reference rate for rupee/British pound was fixed at 94.8182 and for rupee/100 Japanese yen at 65.40.

Source: The Economic Times

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Asia factories slack as trade war agonizes

Soft factory activity was seen from China, South Korea, Taiwan, Indonesia, and Malaysia, indicating a broad slowdown in factory activity throughout Asia. Factories in Asia collectively felt their factory lines stagnate in October, the same month which saw some United States (US) tariffs on China take effect. Soft factory purchasing managers’ index (PMI) numbers were seen from China, South Korea, Taiwan, Indonesia and Malaysia, indicating a broad slowdown in factory activity throughout the world’s largest and most populous continent. South Korea’s Nikkei PMI fell from 51.3 points in September to 51 points last month while Indonesia’s PMI edged lower to 50.5 points. Taiwan and Malaysia factories felt a larger slump in activity, with their PMIs reversing from expansion to enter into negative territory. Taiwan’s Nikkei PMI fell from 50.8 points in September to 48.7 points, while Malaysia’s Nikkei PMI reversed from an expansion of 51.5 points in September to contract at 49.2 points. A lone bright spot could be seen from Japan’s Markit/Nikkei PMI which adjusted to 52.9 points for last month, higher than September’s 52.5 points, helped by a rebound in export sales. China, the country that is directly involved in the trade spat with the US, saw its Caixin/Markit PMI stall at 50.1 points for last month, a slight increase from 50 points in September. Economists in a Reuters poll had expected the sector to fall to a contractionary reading of 49.9 points. Official PMI numbers from China, which measures the performance of large enterprises pointed its manufacturing sector at a score of 50.2 points, a slowdown from 50.8 points in September. The US and China have slapped tariffs on each other in an ongoing trade fight, with the US imposing about US$250 billion of duties on Chinese goods and China retaliating with US$110 billion on US items. The International Monetary Fund have said that the trade war escalation would hit China harder than the US and have downgraded the country’s growth outlook for next year. The US is said to be preparing to announce tariffs on all remaining Chinese imports by early December if upcoming talks between both presidents this month fail to ease the trade war tension.

Source: IG Group

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Manufacturing PMI jumps to 53.1 on strong order inflows

Ongoing improvements in demand, coupled with technological advancements and favourable market conditions, prompted a stronger upswing in production. The country’s factory production accelerated in October as companies scaled up production and employment levels amid strong rise in business order flows, according a survey released on Thursday. Nikkei India Manufacturing Purchasing Managers’ Index (PMI) rose to 53.1 in October from 52.2 in September. This is the 15th month of continuous expansion. The survey is conducted among purchasing executives across over 400 companies. These companies are divided into 8 broad categories: Basic Metals, Chemicals & Plastics, Electrical & Optical, Food & Drink, Mechanical Engineering, Textiles & Clothing, Timber & Paper and Transport. Index over 50 shows expansion, while below 50 means contraction. The index is prepared by IHS Markit and released along with a detailed report. This index is widely quoted to explain the latest industrial situation. The report mentioned that the ongoing improvements in demand, coupled with technological advancements and favourable market conditions, prompted a stronger upswing in production. The rate of output growth was the second-highest registered in the year-to-date, with accelerations evident in consumer, intermediate and investment goods sectors. New orders increased solidly during October, which panelists attributed to successful advertising efforts, strengthening underlying demand and competitive price setting. The rise was the fastest since June. While the growth of total new orders gathered pace, the upturn in export sales cooled at the start of the fourth quarter. Pollyanna De Lima, Principal Economist at IHS Markit, said that the manufacturing sector continued to make up for the lost ground in August, with a robust and accelerated rise in new orders boosting production growth in October. Consumer, intermediate and investment goods output increased at stronger rates. A combination of domestic and foreign orders fuelled the upturn in overall activity, although export orders displayed the slowest expansion since July whilst total new work orders rose at the sharpest pace since mid-year. “The trend for employment was particularly encouraging, with job creation at a ten-month high. Firms sought to increase their competitive edge, with marketing activity and investment in research and development, which meant business sentiment remained positive. However, goods producers see challenges and uncertainties ahead, which in turn translated into the weakest degree of optimism seen in 20 months,” she said. The report further added that October data showed a fifth successive monthly rise in quantity of purchases. The expansion was broadly similar to the moderate pace noted in September. Anecdotal evidence suggested that the ongoing growth of new work underpinned the increase in buying levels. At the same time, vendor performance was broadly unchanged amid reports of higher prices for chemicals, energy and metals, average cost burdens increased further. The rate of inflation was marked and broadly in line with its long-run average. It also said that some manufacturers passed on part of the additional cost burden to their clients by hiking their charges. That said, the rate of selling price inflation was mild in the context of historical survey data. Trends for stocks differed, with a fall in the holdings of finished goods contrasting with accumulation of input inventories. The former was associated with the immediate dispatch of products to clients, while the latter was linked to the purchasing of additional materials amid higher demand.

Source: The Hindu Business Line

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Venkaiah Naidu opens Global Expo Botswana 2018

Indian Vice President M. Venkaiah has said that India and Botswana were amongst the fastest growing economies in the world, with growth rates of over 7 per cent a year, adding that their bilateral trade had increased by an impressive 27 per cent over the period of one year. He was speaking at the inauguration of the 13th Global Expo Botswana, the largest business meet in the southern African country organised by the Botswana Investment and Trade Centre (BITC), here on Wednesday. He was accompanied by his Botswanian counterpart Slumber Tsogwane and Botswana's Minister of Investment, Trade and Industry Bogolo J. Kenewendo, who, at 31years, is the youngest woman member of Botswana's Parliament and also the youngest member of the Botswana cabinet. "We are quite impressed by Botswana's political stability and its consistent status of being the fastest growing economy in Africa. We have about 25 Indian companies present at this forum to look at investment opportunities, the largest-ever delegation from India to Botswana," Naidu told the gathering. Most of the companies from India came from the state of Gujarat and from south India and cover sectors such as health, ITC, food processing, energy, textiles, education and manufacturing. "India and Botswana already collaborate in terms of security, defence, trade, business, health and the bilateral trade has grown to $1.75 billion in 2017-18 - an impressive growth of 27 percent over the previous year," Naidu added. The Vice President also spoke of the contribution of the Indian diaspora to the development of Africa. "Lots of Indian diaspora have been based in Botswana since its independence and they contribute to employment generation and to the local economy," Naidu added. Representing 40 per cent of Botswana's GDP and 70 per cent of its exports, diamonds remain the principal sector of collaboration between India and Botswana. "We want the Indian companies to invest in Botswana and set up their units for polishing, cutting and innovative processing of diamonds in here. This will be the best way to forge a long, stable and a win-win relationship," Minister Kenewendo, told this correspondent. About 8,000 persons of Indian origin currently live in Botswana and nearly 3,000 of them are believed to have taken the Botswanian nationality. "I came in 1988 from Chennai. I was hired as a teacher and soon after I started a business in the manufacturing sector. In the span of 30 years, a lot of investors have come in the country and it has modernised tremendously. We are mainly into imports but since it is a landlocked we rely on countries like South Africa and Namibia where there are seaports," said Rajamanickam Baskar, Director of Madura Enterprises that is in the FMCG and healthcare sector. Jagadessan Naidu, who hails from Coimbatore, set up his business, Nira Holdings that is active in the fields of borehole pumps, electrical installation and maintenance and fluid control systems, in 2000. He says that he made profits quite quickly and has grown his business tremendously within 10 years. "The growth rate of Botswana is just like in india; I never faced any corruption issues. Also money is safe; banking is strong and a number of Indian banks like SBI, BOI and Bank of Baroda are also present here. What we need though is to develop logistics but everything is to be done and this is what makes it exciting for investors from India," he explained. With a population of barely 2,3 million, the need for skilled personnel is high in the country, explains Vijay Naik, Managing Director at Flotek Pipes Tanks and Irrigation, who migrated from Surat in 1983. "We are probably the largest manufacturing company in private sector in Botswana. We manufacture pipes and tanks and fittings used in water projects, sanitation and agriculture. We need easier ways to receive work permits and resident permit for staff from India. Government is quite flexible but we hope that with the stronger links between the two countries and the official visit of Venkaiah Naidu, doing business will be even easier," Naik said. Another attractive aspect of investments in Botswana is that it offers immediate and duty-free and quota-free access to several key markets including the European Union and the Southern African Development Community, a group of 15 Southern African nations with a population of nearly 300 million and a combined GDP of nearly $600 billion.

Source: Business Standard

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India Close to Winning US Sanction Waiver on Iran Oil After Agreeing to Cutbacks, Payment Plan

New Delhi: India is close to finalising a deal with the US that will allow it to continue buying crude oil from Iran without attracting any sanction after it agreed to cut imports and escrow payments, sources in know of the development said. US sanctions on Iran's oil buyers snap back Monday, forcing importing countries to negotiate with the US for waivers by making cuts in purchases or risk getting blocked from the US financial system. India, which is the second biggest purchaser of Iranian oil after China, is willing to restrict its monthly purchase to 1.25 million tonnes or 15 million tonnes in a year (300,000 barrels per day), down from 22.6 million tonnes (452,000 barrels per day) bought in 2017-18 financial year, sources said. US appears to be satisfied with this reduction and is willing to give the waiver provided payments for oil purchases are parked in an escrow account which can be used for purchases from India, they said, adding the US does not want any money to reach Iran. Sources, however, said no final decision has been made and an announcement is likely just before sanctions on Iran are reimposed on November 5. India had continued to import crude oil from Iran despite the threat of sanctions. Two of its refiners - Indian Oil Corp (IOC) and Mangalore Refinery and Petrochemicals Ltd (MRPL) - have even made nominations to buy 1.25 million tonnes of oil from Iran in November. India, the world's third-biggest oil consumer, meets more than 80 per cent of its oil needs through imports. Iran is its third-largest supplier after Iraq and Saudi Arabia and meets about 10 per cent of total needs. US President Donald Trump in May withdrew from the 2015 nuclear accord with Iran, re-imposing economic sanctions against the Persian Gulf nation. Some sanctions took effect from August 6, while those affecting the oil and banking sectors will start from November 5. Currently, India pays its third largest oil supplier in euros using European banking channels. These channels would get blocked from November. During the first round of sanctions when EU joined the US in imposing financial restrictions, India initially used a Turkish bank to pay Iran for the oil it bought, but beginning February 2013 paid nearly half of the oil import bill in rupees while keeping the remainder pending till the opening of payment routes. It began clearing the dues in 2015 when the restrictions were eased. Besides, New Delhi sought to get around the restrictions by supplying goods, including wheat, soybean meal and consumer products, to Iran in exchange for oil. Sources said this time around the entire 100 per cent of Iranian oil import bill can be paid in rupees through the escrow account. Iran was India's second biggest supplier of crude oil after Saudi Arabia till 2010-11 but Western sanctions over its suspected nuclear programme relegated it to the seventh spot in the subsequent years. In 2013-14 and 2014-15, India bought 11 million tonnes and 10.95 million tonnes respectively from it. Sourcing from Iran increased to 12.7 million tonnes in 2015-16, giving it the sixth spot. In the following year, the Iranian supplies jumped to 27.2 million tonnes to catapult it to the third spot. Iranian oil is a lucrative buy for refiners as the Persian Gulf nation provides 60 days of credit for purchases, terms not available from suppliers of substitute crudes -- Saudi Arabia, Kuwait, Iraq, Nigeria, and the US. Besides blocking of banking channels from November, the absence of payment mechanism may pose a challenge to the transportation of the oil as Iranian crude is bought on a CIF basis and shipped on Iranian tankers. Under Cost, Insurance and Freight (CIF) mode of shipping, the seller assumes the responsibility of transportation and insurance. The liability and costs associated with successful transit are paid by the seller until the goods are received by the buyer.

Source: Business Standard

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Global Textile Raw Material Price 1-11-2018

Item

Price

Unit

Fluctuation

Date

PSF

1420.90

USD/Ton

0%

11/1/2018

VSF

2129.19

USD/Ton

-0.34%

11/1/2018

ASF

3003.81

USD/Ton

0%

11/1/2018

Polyester POY

1405.12

USD/Ton

0%

11/1/2018

Nylon FDY

3340.75

USD/Ton

0%

11/1/2018

40D Spandex

4788.89

USD/Ton

-0.30%

11/1/2018

Nylon POY

3498.47

USD/Ton

-0.41%

11/1/2018

Acrylic Top 3D

5419.76

USD/Ton

0%

11/1/2018

Polyester FDY

1677.55

USD/Ton

0%

11/1/2018

Nylon DTY

3097.01

USD/Ton

0%

11/1/2018

Viscose Long Filament

3154.36

USD/Ton

0%

11/1/2018

Polyester DTY

1591.52

USD/Ton

0%

11/1/2018

30S Spun Rayon Yarn

2824.59

USD/Ton

0%

11/1/2018

32S Polyester Yarn

2086.18

USD/Ton

-0.68%

11/1/2018

45S T/C Yarn

2946.46

USD/Ton

0%

11/1/2018

40S Rayon Yarn

2251.07

USD/Ton

0%

11/1/2018

T/R Yarn 65/35 32S

2509.15

USD/Ton

0%

11/1/2018

45S Polyester Yarn

3125.68

USD/Ton

0%

11/1/2018

T/C Yarn 65/35 32S

2666.87

USD/Ton

0%

11/1/2018

10S Denim Fabric

1.33

USD/Meter

0%

11/1/2018

32S Twill Fabric

0.82

USD/Meter

0%

11/1/2018

40S Combed Poplin

1.15

USD/Meter

0%

11/1/2018

30S Rayon Fabric

0.65

USD/Meter

0%

11/1/2018

45S T/C Fabric

0.69

USD/Meter

0%

11/1/2018

Source: Global Textiles

Note: The above prices are Chinese Price (1 CNY = 0.14338 USD dtd. 1/11/2018). 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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Ghana: Textile importers, traders resist single corridor policy-Minister says policy not negotiable

Importers and retailers of textile prints in Accra are opposing the government's policy to use the Tema Port as the single corridor for the importation of textile products. According to the traders, any move to adopt the single port policy would put undue financial burden on them and throw them out of business. The government has announced that a tax stamp policy and the single port policy for the textile industry will start on November 15, this year. The move by the Ministry of Trade and Industry and the Customs Division of the Ghana Revenue Authority (GRA) is meant to check tax evasion and guard against the piracy of textile designs. That arrangement means that the Aflao Border, which has been the most patronised for the importation of textile prints, can no longer serve that purpose. The policy was supposed to have started in July this year but was postponed to November 15 to make way for consultations with traders and other players in the textile Industry.

Fierce resistance

As part of the engagement, the Trade Ministry has been holding regional town hall meetings to educate the key stakeholders, especially the traders. One such meeting was held in Accra yesterday that brought together importers and retailers, mainly from the central business district of Accra. The Minister of Trade and Industry, Mr Alan Kyerematen, while addressing the traders, reiterated that the single port policy would be rolled out as planned. However, the traders mounted a spirited defiance of the initiative, stressing that they would resist the policy. In what appeared to be a well-rehearsed agenda, the traders, in a chorus, stated that they wanted to be allowed to import from other ports. They also complained that the cost of imports was high and asked for a reduction in duties. Mr Kyerematen and the President of the National Cloth Sellers Association, Mrs Christiana Laryea, had a tough time controlling the traders, who chanted intermittently to register their opposition to the policy.

Resolute stance

The minister, nonetheless, stood his ground and said the government would not relent in its effort to implement policies to salvage the local textile industry from pirates and tax evaders. He explained that the tax stamp, the single corridor and other policies that were being rolled out in the textile industry were meant to strike a balance for local textile manufacturers, importers and consumers. "We are determined to go ahead to implement policies that will save the textile industry. We want to stop illegal importation and also ensure that importers pay the right duties at the port to ensure that local companies are not treated unfairly," he stressed.

Pay tolls

For his part, the Chief Executive Officer (CEO) of the Accra Metropolitan Assembly (AMA), Mr Mohammed Nii Adjei Sowah, urged traders in the various markets to pay their rent and market tolls religiously to help the assembly and the government undertake development projects that would benefit them. He said, for instance, that the AMA would rebuild all dilapidated sheds at the Makola Market next year to improve on conditions there. "The AMA spends about GHc60,000 a week and GHc240,000 a month on fuel alone to cart refuse from the markets. We are including the rebuilding of sheds at the Makola Market in the 2019 budget. We need money to do all these and so if you do not pay what you are supposed to pay to the assembly and the government, it will be difficult to undertake projects to benefit you," he said.

Source: Graphic.com

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UK inquiry questions fashion sustainability experts

LONDON – UK politicians heard from fashion industry experts at this week’s Environmental Audit Committee (EAC) at the House of Commons on the negative impacts that textile microfibres, fibre selection and fast fashion have on the environment. This latest probe comes as the impacts of fashion are coming under even greater scrutiny by politicians in Europe – not just the UK – and after the EAC launched its enquiry in June, which examines the impacts of clothing production, use and disposal on natural resources.

Source: Eco Textiles

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President Xi to inaugurate China's first import expo

Chinese President Xi Jinping will attend the opening ceremony of the six-day first China International Import Expo (CIIE) in Shanghai on November 5, according to the country’s vice commerce minister Fu Ziying. Xi will deliver a keynote speech and visit the pavilions with foreign leaders. CIIE will also the Hongqiao International Economic and Trade Forum. Eighty two countries and three international organizations will showcase their achievements in economic and trade development as well as competitive products at 71 booths at the world's first import-themed national-level expo, the vice minister said. More than 3,000 companies from over 130 countries have confirmed participation in the exhibition, according to Chinese official media. The Hongqiao International Economic and Trade Forum, with a theme of ‘spurring new vitality of global trade, creating an open and win-win scenario," will be attended by over 2,000 government officials, international organisation leaders, entrepreneurs and academics from over 130 countries and regions, Fu added.

Source: Fibre2Fashion

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Alvanon to solve skills gap within global apparel industry

Global innovations firm Alvanon has launched Motif, a unique apparel knowledge and continual e-learning hub to help solve the skills’ gap within the global apparel industry and solve the issues faced by individual firms. The skills gap in apparel is getting wider all the while the tools needed to close the chasm are falling further and further behind. With Motif, Alvanon is providing a way for apparel experts to offer training industry-wide. Plus, it allows employers to purchase the course on behalf of their staff, and it gives employees the flexibility to learn at their own pace. In Alvanon’s 'The State of Skills in the Apparel Industry 2018' report, which was based on a survey of 642 industry insiders, the company has revealed 73 per cent of executives rank employee development and learning as a pressing business issue, second only to going digital. "We came up with the idea for survey because of the things we were hearing from clients about the lack of fundamental skills and them having a hard time hiring people and finding the right talent and the sudden need for this new blend of skills due to digitisation and automation," said Catherine Cole, director of corporate development at Alvanon and executive director of Motif. "It came down to lacking a common language across the supply chain, and it was obvious that there was a lack of fundamentals." "Once people are in the job force, there has to be a way to provide continuing education opportunities throughout or you’ll be hiring new people every 9 to 12 months, Cole said, adding the latter options is really not an option at all. "Sixty-two per cent of employers said they have trouble finding people with the right skills. And there were a lot of gripes that fresh grads aren’t graduating with the right commercial skills, and they don’t understand the business and production.” While three of the initial courses will be led by Alvanon executives, the platform doesn’t carry the Alvanon branding because it’s meant to be a standalone resource that will feature a variety of industry experts offering a wide curriculum. One of the first courses is an adaptation of Alvanon senior advisor Ed Gribbin’s two-day, in-person workshop on the variables that go into apparel costing. The Mechanics of Fit class is designed for those in product development who need to review the fundamentals, and a course on the fit form will instruct attendees on how to do proper fitting on a mannequin. Pratt’s Brooklyn Fashion + Design Accelerator (Pratt BF+DA) will also offer a course on sustainability in fashion that’s designed to provide those not on the sustainability teams at their companies with the know how to get up to speed on the topic. Future courses will dive into 3D, sizing, textiles and product development and specific aspects of sustainability. "The idea is, this should be bigger than Alvanon .We'll be one of the publishers on it, but there will be leading apparel industry figures from around the world. We need collaboration more than ever and corporates to buy into continual online learning," concluded Cole.

Source: Fibre2Fashion

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