The Indian government has marginally increased duty drawback rates for several textile items, applicable for the year 2018-19. However, there is a marginal decrease in the duty drawback rates of apparel items. The announcement made through ministry of finance’s Notification No. 95/2018-CUSTOMS (N.T.) shall come into force from December 19, 2018. The duty drawback has been increased from 1.2 per cent to 1.7 per cent for cotton yarn, from 1.3 per cent to 1.6 per cent for cotton fabric, and from 2 per cent to 2.6 per cent for made-ups. The ministry of commerce and industry periodically reviews the duty drawback rates by mandating the Duty Drawback Committee and revises the rates so that all the central taxes are refunded so as to avoid export of taxes and have a level playing field in the global market. “Consequent to the significant changes made in the tax structure after the implementation of GST, the textiles and clothing industry has been demanding the government to announce enhanced the duty drawback rates,” P Nataraj, chairman, The Southern India Mills Association (SIMA), said in a press release “The increase (in duty drawback rates) would help the exporters to improve their competitiveness especially in the countries with which India has preferential tariff agreements (PTAs). The removal of value cap on most of the items, which has been discouraging value addition, is another welcome feature of the announcement,” Nataraj added. On marginal decrease in the duty drawback rates of apparel items, Nataraj said that considering the continuous fall in garment exports, the industry was hoping for increase in drawback rates. “The government could have at least continued the existing rates of duty drawback to sustain the existing level of garment exports. The reduction in drawback rates on garments might have negative impact on exports.” He appealed the government to at least retain the existing rates, and added that it is essential to refund the embedded/blocked taxes and also the inverted duty to further improve the competitiveness of the country’s textile and clothing sector. (RKS)
Source: Fibre2fashion
Knitwear businessmen here expressed disappointment over the reduction of duty drawback rates on readymade garments (RMG). The Central government recently slashed the rates on cotton-made readymade garments from 2% to 1.9% and also the rates on many other RMG. While the change may have been minimal, it has not gone well with the industrialists as the sector had recorded negative growth last financial year due to demonetisation and GST. “In the last financial year, RMG exports from Tirupur declined to Rs 24,000crore, about Rs 2,000crore lower than the last corresponding year. This year also, it has continuously come down every month, except October. Between May and October, only Rs 12,100croreworth RMG were exported from the dollar city,” an industrialist said. “We have been insisting the government to increase the duty drawback rate from 2-2.5% to 4.5%. We are disappointed by the reduction,” president of the Tirupur Exporters’ Association Raja M Shanmugham said. The move sends a wrong message, especially when the exporters were struggling to compete because of absence of a level-playing field in the international RMG market, Tirupur Exporters and Manufacturers Association (TEAMA) president SP Muthurathinam said. “Our competitors, including Bangladesh, Vietnam, Cambodia and Sri Lanka, have advantage as they have Free Trade Agreement or other agreements with the European Union.” The government has also increased the rates on cotton and cotton yarns by 0.35% and 0.5% respectively. “It is important that exports of raw materials like cotton should not be encouraged much, so that they could be consumed locally. But, decreasing duty drawback rates for value-added products and increasing the same for the raw materials was a bad idea,” Muthurathinam added.
Source: Times of India
The New Industrial Policy has been sent for the Union Cabinet’s consideration, commerce and industry minister Suresh Prabhu said, proposing a new regime that aims to create jobs for the next two decades and attract $100 billion foreign direct investment (FDI) annually. “For the industrial policy, the Cabinet note has been sent. We were putting in place an action plan on how to implement it and that is why it took time,” he said. The New Industrial Policy, which will replace the 27-year-old existing policy, aims to resolve bottlenecks arising from inadequate infrastructure, restrictive labour laws and complicated business environment. The policy is in sync with the government’s ‘Make in India’ target to increase the share of the manufacturing in the economy to 25% by 2022 from 16-17% now. The policy would have some financial implications as the government may provide incentives for use of transformational technologies like artificial intelligence, internet of things, and robotics. An elaborate administrative machinery, including a steering committee for effective implementation of the policy, is also on the anvil. The major reform proposed ahead of general elections next year would address the issue of inverted duty structure and develop alternatives to banks for improved access to capital for micro, small and medium enterprises (MSMEs) such as peer to peer lending and crowd funding. “We will give infrastructure, this is our commitment. We are already making industrial corridors and we want to make country specific clusters in those,” Prabhu added. The new policy also takes into account the competition from China, specifically addressing productivity and MSMEs. As per the Department of Industrial Policy and Promotion (DIPP), productivity as measured by value added per worker and average wages in manufacturing in India are only one-third of that in China. “Differences in productivities across sectors and across firms within the same sector make matters worse. Workers in India are overwhelmingly employed in low productivity and low wage activities,” the department has said. Indian MSMEs are facing tough competition from cheap imports from China and free trade agreement countries.
Source: Economic Times
The event comes to this region after 25 years
The South India unit of the Textile Association (India) (TAI SIU) is gearing up to conduct the All India Textile Conference at Hotel Radisson Blu here on December 15 and 16. This will be the 74th edition of the conference, under the theme “Global Textiles — The Way Forward” Conference Convenor K Ramalingam clarified that TAI organises the event every year at one of its 27 federal units. “The South India unit of TAI is conducting the event this year, after a gap of 25 years.”
Honouring members
“On this memorable occasion, we will be honouring R Jagadish Chandran, Chairman, Premier Mills (P) Ltd with the Life Time Achievement Award and Sanjay Jayavardhanavelu, Chairman and Managing Director of Lakshmi Machine Works with the Industrial Excellence Award for their contribution and service to the textile industry,” said Ramalingam. The event is being organised in association with SIMA, Indian Texpreneurs Federation, Tamilnadu Spinning Mills Association and Tirupur Exporters’ Association. The focus will be on “competence” and in particular on the spinning sector of the textile industry, he said.
Source: The Hindu Business Line
The government will put in place a proper mechanism including easy regulations, detailed information and less paperwork for global funds to invest in the country in areas such as infrastructure and startups, Commerce and Industry Minister Suresh Prabhu said. The minister has held multiple meetings in the recent months with several global sovereign wealth funds, insurance funds and pension funds from countries like Japan, Australia, Canada, Singapore and South Korea to attract investments in India. Prabhu said these global funds face certain challenges like finding the right candidates in the country for investments, among others, "so we are discussing a structure (for them)". He also said there are sector limitations of these funds as they have mandates to invest in specific areas like renewable energy. "There are challenges for getting funds for startups. We are following up with sovereign wealth funds, insurance funds, pension funds, and other large funds. We are discussing with International Finance Corporation NSE 0.00 % (IFC). "These funds have a challenge of finding right candidates for investments and on the other hand possible candidates are waiting for that money. We are also discussing a structure," he told PTI. He said during his meetings with Japanese funds, they raised certain issues like regulatory burden and long documentation process. "I have asked to them to give the list (of those regulations) and we will take up all those," he said. He added that a committee has been set up under Department of Industrial Policy and Promotion (DIPP) Secretary to ease regulatory burdens. "There was an issue of too much documentation. We have suggested to bring Japanese and Indian lawyers together who are dealing with corporate and commercial laws and we will prepare a set of standardised documents...So we are going to do this immediately," the minister said. "We will discuss the sector limitations of these funds. So we would do mandate matching and we will talk specifics," he said, adding the ministry is collecting details about startups. "We will provide all information but fund has to take a call to invest and startups have to take call whether they want money from them. We will do match making," Prabhu said. Further, he said that as pension funds want to invest for the long-term, India could provide information about infrastructure projects, "so we are working on all this and have told them that we will put in place a complete research".According to DIPP data, foreign direct investment into the country grew by 3 per cent in 2017-18 to USD 44.85 billion. Foreign direct investment (FDI) is important as India would require huge investments in the coming years to overhaul its infrastructure to boost growth. Overseas inflows help maintain equilibrium with respect to the country's balance of payments and value of the rupee.
Source: Economic Times
The Government of Tamil Nadu is examining a proposal to introduce industrial and vocational training in the higher secondary curriculum, to make students employable in different sectors, including textiles, said KA Sengottaiyan, TN Minister for School Education, addressing a special plenary session at the textile expo “Weaves” at Texvalley, Erode. At the event, MoUs were inked between member industries of weaving clusters in and around Erode and 25 educational institutions, for promotion of skill development and training of employees in the weaving and textile units in design, marketing and other business activities. P Thangamani, TN Minister for Electricity, Prohibition and Excise, said the government is keen to join with the industry to create a common effluent treatment plant. “This would be a permanent solution for the dyeing and processing units in the districts of Tirupur, Namakkal, Erode and Karur to address the business and environmental challenges arising out of letting untreated effluents into the soil or water sources in the vicinity,” he said. “With support from the Centre, the State would be able to mobilise up to 75 per cent of the project cost, with the remaining coming from the participating units,” he added. On power capacity, the Electricity Minister said: “We will be adding an additional 4,000 MWto the existing installed capacity of 18,000 MW and thereby ensure that TN remains a power surplus state in the years to come”. MC Sampath, Minister for Industries, said the Business Facilitation Act has helped the State attract a ₹10,000-crore investment in the last four months.
Source: The Hindu Business Line
"India under the government of Prime Minister Narendra Modi has carried out some really fundamental reforms. A lot of what they have done on financial inclusion has been really important"India’s growth has been “very solid” over the past four years, IMF’s Chief Economist Maurice Obstfeld on Sunday said, praising the fundamental economic reforms like the GST and the Insolvency and Bankruptcy Code carried out by the government. Obstfeld, 66, — who is set to retire this month-end — will be succeeded by Gita Gopinath, the second Indian to be appointed to the position. Former RBI Governor Raghuram Rajan had served as Chief Economist of the International Monetary Fund. “India under the government of Prime Minister Narendra Modi has carried out some really fundamental reforms. These include the Goods and Services Tax (GST), the Insolvency and Bankruptcy Code…A lot of what they have done on financial inclusion has been really important,” Obstfeld told a group of journalists here. Summing up his impression of India’s economy in the last four-and-a-half years of the Modi government, the top IMF economist said the country’s “growth performance has been very solid”. “I mean, not so much in the third quarter of this year, but generally it has been quite solid,” he said. “There are important vulnerabilities, so it is important for the reform momentum to be maintained even as an election comes up and for the path of fiscal adjustment to be maintained,” Obstfeld added. He said one risk that has become much more evident in the last few years has been non-bank finance, usually called shadow banking. “There is a big challenge of stricter, oversight,” the economist said. Noting that there has long been a legacy of corporate debt associated with bad infrastructure projects in India, Obstfeld said it has been very concentrated in banking system. “But as the government is trying to better oversee the banking system, these loans have migrated to shadow banking and that is an area where more needs to be done to contain nancial pressures, which we are beginning to see in India,” he said. However, with an upcoming election in the country, there is a reluctance to do anything that would slow the economy, Obstfeld said, observing, “But the lesson of experiences is that nancial vulnerabilities can go south very quickly”. Obstfeld, who has served in the post of Chief Economist for more than three years, will return to the Department of Economics at the University of California, Berkeley
Source: Indian Express
New Delhi : In a move that would cheerbusiness firms and traders, the Finance Ministry has extended the due date for filing annual return by three more months. “The competent authority has decided to extend the due date for filing FORM GSTR-9, FORM GSTR-9A and FORM GSTR-9C till 31st March, 2019,” a statement issued by the Central Board of Indirect Taxes and Custom (CBIC) said, while adding that the requisite forms shall be made available on the Goods and Services Tax (GST) common portal shortly. Earlier, the last date was December 31, 2018. Various trade and industry bodies had demanded the due date be extended. Their contention was that till today the format of filing of annual GST Return and even option is not available anywhere including on the GST website. They argued that the annual GST return assumes much significance as it gives last opportunity to assessees to rectify their previous returns filed with the department for that particular year. In separate petitions to the Finance Ministry, industry chambers said that tax payers and professionals spend more time resolving and reloading the returns. Further, registration of HSN-wise declaration of inward and outward supply of goods has been a huge hassle for the tax payers. HSN code for inward supplies was not required for GSTR-3B returns, but the same had to be mentioned in the annual return. Tax payers will have to scrutinise all their past purchases and monthly past returns to fill up the particulars in the annual return. For those engaged in small business/trade, the process is found to be more strenuous and time consuming as they do not have the expertise to review all past purchases. With due dates for filing GSTR-3B extended for different months, compliance on payment of interest and late fee has become cumbersome, the chambers said. “This was quite a sought after extension by the industry; specifically for most of those industry players who have been struggling to collate information required to be disclosed in GSTR-9 and GSTR-9C,” Abhishek Jain, Tax Partner at Ernst and Young (EY), said. Anita Rastogi, Partner at PricewaterhouseCoopers (PwC), felt that was the need of the hour as enough and more work is required to be done in order to file annual returns and conduct GST audit. “In fact, utility on the GST portal for both of these have still not been made available to public,” she said.
Source: Business Line
Over 50 Indian firms are interested in expanding operations in Ras Al Khaimah Economic Zone (RAKEZ) in the United Arab Emirates (UAE), according to a statement issued by RAKEZ in New Delhi recently. The companies include DCM Shriram, MSN Lab and LT Foods. RAKEZ is one of the seven emirates that comprise the UAE and one of the 45 free economic zones in the nation. RAKEZ group chief executive officer Ramy Jallad said out of the over 14,000 multinational companies present in RAKEZ, 22 per cent are Indian and more is being expected from India. The economic zone offers uninterrupted power supply, easy access to fast-growing markets in the Middle East, North Africa, Europe, South and Central Asia through major logistical hubs, and is well connected to various countries through road and five ports. If an investor commits to bear 60 per cent of the cost of a new set-up, RAKEZ will help provide the rest, Jallad added. (DS)
Source: Fibre2fashion
Global yarn production increased by 5 per cent between Q1/18 and Q2/18 whereas global fabric production decreased from Q1/18 to Q2/18, according to the ITMF (International Textile Manufacturers Federation) State of Trade Report 2018, prepared by Olivier Zieschank, ITMF economist. It is an international forum for the world’s textile industries. Higher output where observed in Egypt (+1.4 per cent), the US (+3.2 per cent), South Africa (+3.3 per cent), and globally in Asia, where the overall +5.7 per cent increase was led by Chinese Taipei and Korea, Rep. (respective growth rates of +8.1 per cent and +8.8 per cent). An opposite trend has been observed in all surveyed European countries, Brazil, and Japan. Forecasts for Q3/18 are only optimistic in Africa but the Q4/18 previsions turn positive in all regions except Brazil where stability is expected. Global yarn stocks decreased globally by -4.75 per cent. This is the effect of small contractions in Asia and Europe (between -3 per cent and -4 per cent), a +18 per cent increase in Brazil, and a -20 per cent average decrease in the African countries surveyed. Altogether, yarn stocks reached 85 per cent of their previous year’s level for the same quarter. Global yarn orders decreased by -6 per cent led by a strong reduction in the Brazilian market (-28 per cent). Yarn orders, however, increased in Africa and Europe by +5.7 per cent and +7.5 per cent, respectively. Global fabric production slightly decreased from Q1/18 to Q2/18. The +0.25 per cent contraction reflects a -6 per cent output reduction in Africa, a decrease of -0.5 per cent in Asia, a +1.6 per cent increase in Europe, and a +3.7 percent jump in Brazil. The world output level now reaches 87 per cent of its Q2/17 level. Fabric production in all regions is expected to decrease in Q3/18 except in Brazil where stability is foreseen. Q4/18 should see improvements in all regions. In Q2/18, the global fabric stock level grew by almost +2 per cent. It was driven by Brazil’s stock increase of +7 per cent, which brought global fabrics stocks 11 per cent above their Q2/17 level. Stocks remain stable in Asia, Europe, and the US. They continue to steadily drop in Egypt. Global fabric orders have risen by +43 per cent at world level in Q2/18, led by a +65 per cent increase in Brazil that followed an unusually low first quarter. Orders in Asia and Europe have stagnated and contracted in Egypt, respectively. Global fabric orders are now 16 per cent above their level observed in Q2/17. (GK)
Source: Fibre2fashion
Textile sector recorded the highest amount of non-performing loans (NPLs) at Rs185.6 billion in 2QCY18 with an infection ratio of 18.9pc, reported the State Bank of Pakistan in Statistical Bulletin-December 2018. Percentage-wise, agriculture had the highest rate of infected loans during the period at 19.4pc, from 12.6pc in the previous quarter, with NPLs of Rs61.7bn. Agriculture sector has lately been struggling through water shortage as well as the ongoing crisis around sugarcane pricing. The Small and Medium Enterprises (SMEs) slightly improved their performance as the infection ratio fell to 17.8pc with NPLs of Rs75bn in 2QCY18, compared to 18pc in the first quarter. Shoes and leather garments sector, which has been losing out to the cheaper influx of foreign shoes and artificial leather entering the local market, had an infection ratio of 18.6pc and NPLs worth Rs5.7bn, from 17.6pc in the previous quarter. Other sectors with high ratios were electronics at 11.7pc, agribusiness 9.8pcand transportation 11.5pc. On the other hand, auto industry gave the best performance with infection ratio at just 1.3pc or Rs2.6bn of NPLs while the advances for the sector stood at Rs196.5bn.
Source: The Dawn
Business Finland has launched the Bio and Circular Finland program which aims to make Finland a forerunner in the circular economy. The circular economy is an opportunity for the industries traditionally important to Finland, but also opens incredible opportunities for a new kind of business. The expected volume of the four-year program is EUR 300 million, of which the share of Business Finland’s innovation funding is EUR 150 million. In addition, the program will offer internationalisation services and renewing ecosystems that will also attract foreign experts, companies and investors to Finland. The program seeks internationally scalable solutions to the global challenges of sustainable development, such as climate change and waste issues. The consumers’ ecological values will also change the features of the new solutions. “The competitiveness of Finnish companies in the circular economy is strengthened by bioeconomy and digitalization know-how. Our strengths are the combination of different competences and cross-sector business models. The Finnish economy will grow and renew with diverse, internationally competitive circular economy innovations,” says Risto Huhta-Koivisto, Senior Director, Bio & Circular Economy. The program challenges the industry to extend product life cycles through product design and new service businesses. The program seeks to strengthen the industry’s ability to introduce digital technologies for improving logistics and product life cycles, among other things, and for sharing materials, information and services. In the consumer business, the program supports the development of digital platforms and the transition from ownership to services and sharing. In addition, leading cities and municipalities can be forerunners of sustainable development with innovative solutions compatible with the circular economy.
The program themes are based on Finland’s strengths.
In the preparation of the program, the needs of companies and organisations were explored through interactive workshops and a questionnaire that was open to everyone. The content of the program is still being refined. Initially, the focus is on the following themes, among others: • Cellulose based textiles and the collection and recycling of used textile fibers • Circular economy solutions addressing the plastics challengeAlso, together with Business Finland’s Smart Mobility program, we aim to establish a world-class test environment under the theme “From the forest to the sea” in order to develop automated logistics for the export of heavy industry goods which is important to Finland. “Business based on the circular economy presents a great opportunity for Finland. Finland is a credible pioneer in circular economy solutions – and can play a much bigger role in saving the world than its size would merit,” says Ilmari Absetz, Director of programs at Business Finland.
Source: Scand Asia
The Joint Apparel Association Forum (JAAF) looks forward to having a stable rupee and is not very keen on short term gains, JAAF Secretary General Tuli Cooray said. With the launch of JAAF’s new logo, the industry plans to forge ahead with its third strategic plan, taking the industry to the next level. “We want to continue our third strategic plan and for this we deviated from the norm of getting the executive committee to prepare the plan. The strategic plan was prepared by the future leaders of the industry. We created a new sub committee called ‘future leaders’ as the industry vision has to be always to introduce newness to the process. This newness should come from the young or the third generation,” he said. The rationale behind allowing the third generation to come up with the strategic plan was to ensure that the apparel sector becomes an $ 8 billion industry by 2025. “We cannot take the industry to that level with what we have done so far. There has to be a new vision and a new solution to take the industry to the next level facing the emerging challenges, local and international, he said. “Earlier we were harping on the tagline, ‘Garments without Guilt’ and it is ‘Seamless Solutions’ at present. We continue to evolve by having a contract manual, supply chain management and offering certain solutions. We plan to take front-end operations right to the back-end with efficient logistics services. In this process, we will innovate, not only in production, but in the way we do business,” he said. “We have certain challenges within the economy, and we are not producing cheap garments any more. We have to look for alternatives. For this, there is a two fold approach. We need to see to what extent technology could be use to minimise human intervention, and the second is, which component of the value chain could be undertaken by us on a competitive basis. We may outsource basic production from the region and we may also engage in Order Management, Supply Chain Management, offer Design Chain management and new business capabilities. This will enable the strengthening of synergies in the South Asian region,” he said. “To begin this journey, we have taken a number of measures. The efforts to become a reliable supplier to the market will continue. We are heavily involved in Digital Marketing which is the way forward in this modern era.
We have to work with government agencies to enable Sri Lankan companies to engage in e-commerce for the export of goods. This will give flexibility to any company to reach the market. We could work with well-known brands or supply goods to the brands at a competitive cost,” he said. The development of electronic technology and Artificial Intelligence has reduced the cost of e-commerce equipment. These advancements will make us more tech savvy and solve the issues of labour to a certain extent. The new thought process in digitalisation is reflected in our new logo where the diversity of Sri Lanka and its main elements, starting with education, are shown, Cooray explained.
Source: Sunday Observer
Phnom Penh Municipal Court on Friday heard the case of six trade union leaders who were sued by the Garment Manufacturers Association in Cambodia (GMAC) over violent protests demanding increased wages in late 2013 and early 2014, despite GMAC having withdrawn its complaint. While only two of the more than 10 alleged victims – Tim Vuthy and Som Dina – were present, the six defendants, including the president of the Cambodian Independent Teachers Association (CITA), Rong Chhun, did not attend the hearing. The other union presidents who are defendants are Ath Thorn, of the Coalition of Cambodian Apparel Workers Democratic Union (C.CAWDU); Mom Nhim of the National Independent Federation Textile Union of Cambodia; Pav Sina of the Collective Union of Movement of Workers (CUMW); Chea Mony of the Free Trade Union; and Yang Sophorn of the Cambodian Alliance of Trade Unions (CATU). Dina, a Sen Sok district police officer, told the court that he was directing traffic on Veng Sreng Boulevard when a group of 20 protesters threw stones and sticks at him. Dina said he sustained serious injuries to his right wrist and was sent to hospital. “I don’t know which union threw stones at me. I don’t know their identity because it happened during the night,” he said. Tim Vuthy, a Veal Vong commune deputy police chief, told the court that he was also directing traffic on the boulevard when protesters threw stones at him, seriously injuring his left eye. Vuthy said he was sent to a hospital in Vietnam after Cambodian doctors said his sight could not be saved. “It was nighttime and I couldn’t identify which group the protesters belonged to. I just knew they were part of the unions. I demand 40 million riel ($10,000) in compensation,” he said. Deputy prosecutor Ly Sophana said witness accounts and evidence, including video footage of the protest, showed the offence did happen. “The [violence] happened and it caused damage to garment factory property and injuries to the victims. I ask the judge to look at the evidence and follow the law,” he said. Judge Im Vannak said GMAC president Ken Loo withdrew his complaint on December 2, apparently following a public appeal by Prime Minister Hun Sen. “With Prime Minister Hun Sen’s speech on expediting court procedures involving unions the Garment Manufacturers Association in Cambodia decided to withdraw its complaint without demanding any compensation,” said a statement issued by Loo. Defence lawyers for Rong Chhun, Pav Sina and Yang Sophorn acknowledged that the attack did occur, but that the trio were not present when the violence broke out. They said the three union leaders were at the time attending a meeting with the Ministry of Labour and Vocational Training regarding workers’ wages. The lawyers asked the court to drop all charges as the plaintiff has already withdrawn its complaint. Deputy prosecutor Ly Sophana said the six defendants are charged with the intentional act of violence with aggravating circumstances; intentionally causing damages with aggravating circumstances; threats to destroy followed by an order; and blocking public traffic. They face prison terms of up to five years if found guilty. Judge Im Vannak said a verdict will be announced on Tuesday.
Source: Phnom Penh Post
The export of textile machines from China in 2017 amounted to $3.4 billion, a significant improvement from $2.98 billion in 2016. It also exported $0.62 billion worth of ancillaries in 2017. China-made textile machinery constitutes one-third of the global textile machinery export market and the country produces over 600 kinds of machines and ancillaries. “Textile machinery enterprises have made great efforts in promoting technology innovations that suit the needs of the market. From national policy constraints to the promotion of environmental awareness in the industry, machinery companies have adopted more eco-friendly production technologies. In spinning and weaving, there are innovative technologies for energy saving and emission reduction,” Gu Ping, vice president, China Textile Machinery Association (CTMA), told Fibre2Fashion. The CTMA, established in May 1990, has 663 members. It is a social and economic group comprising enterprises and institutions voluntarily organised by the textile machinery and equipment industry, and is a corporate legal entity approved by the ministry of civil affairs of China. Talking about the level of penetration of technologies such as AI and IoT, Ping said, “Chinese textile machinery companies focus on innovation in these areas. Some products have achieved a high-level such as the printing sector; the pattern of printing and dyeing equipment has been applied by artificial vision detection technology.” Ping added that the association plans to continue promoting technological advancement in the industry and help companies develop in international markets. (KD)
Source : Fibre2fashion
Around 200 suppliers from China and other countries will display their products including bedding and towelling, carpets and rugs, table and kitchen linen, home textiles, and textile design at the Spring Edition of Intertextile Shanghai Home Textiles during March 12-14, 2019. By participating, companies get to tap into the finished products market in China. Bedding products account for half of home textiles sales in China. Thanks to the rising number of middle class citizens and a steady increase in new marriages every year, there is a growing demand for bedding products. According to the National Bureau of Statistics, the total income of those bedding enterprises above a designated size reached US$ 12.3 billion in the period between January and September 2018, while their domestic sales amassed US$ 8.3 billion, representing a year-on-year increase of 6.2 per cent. Spring is traditionally regarded as the start of a new year in China and Intertextile Shanghai Home Textiles has been facilitating industry players to capture the market potential during the peak sourcing season for home textile finished products. The 2018 Spring Edition was sought after by the industry, and more than 20,000 buyers from 68 countries and regions came to source. It also offered valuable opportunities for exhibitors to tap into the China market. “It is one of the important platforms for us to launch products for the year as many suppliers and brand buyers are looking for new items during this prime sourcing period. We also expect the demand for quality finished products to keep growing due to the rising living standard,” Gao Qi, district manager of Sunvim Co commented after their participation in 2018. Intertextile Shanghai Home Textiles – Spring Edition 2019 is held concurrently with Intertextile Shanghai Apparel Fabrics – Spring Edition, Yarn Expo Spring, CHIC and PH Value.
Source : Fibre2fashion
