Mumbai: The Ministry of Textiles has signed an agreement with the country’s leading clothing and textiles players like Raymond, Welspun, Titan, Reliance Retail and the Sachin Tendulkar-promoted True Blue, to encourage procurement from the weavers directly. Addressing an outreach programme called the Artisan Speak where these agreements were signed, Textile Minister Smriti Irani said the initiative aims at exploring the synergy between culture and textiles and the initiative will be extended to rest of the country. Meanwhile, Textile Secretary Raghavendra Singh said All our schematic assistance including provision of loans, skilling, provision of yarns etc are aimed at lowering the cost of production and enhance the income of weavers. He said the ministry is coming with QR coding post registration and pre-registration of all its weavers for geographical indication tags.
Source: KNN
Union Textiles Minister Smriti Irani Tuesday released HSN codes for technical textiles that is expected to act as a catalyst for achieving the market size of up to Rs 2 lakh crore by 2020-21. "The HSN codes for technical textiles is expected to benefit 900 million farmers in the country. It is a step that will help us grow to over Rs 2 lakh crore in the tech textile sector," the minister said after releasing HSN codes for technical textiles at the National Conclave on Technical Textile here. To fulfil long-standing demand of industry to declare technical textile items as separate category, the government has notified 207 HSN codes as technical textiles. It will give major boost to the sunrise sector, she said. In order to help the potential investors to enter into technical textiles, ministry has set up Focus Incubation Centres (FIC), Irani said. "We have also focused on incubation centres and set up 11 such centres in the country. Under the aegis of textile ministry, we have undertaken 40 geo textile projects for roads, water reservoirs and ensured that our farmers embrace agro tech at 54 agro tech demonstration centres and distribute kits, which basically tells them how to use agro tech in their day-to-day working across the country," the minister added. "We have also focused on incubation centres and set up 11 such centres in the country. Under the aegis of textile ministry, we have undertaken 40 geo textile projects for roads, water reservoirs and ensured that our farmers embraces agro tech at 54 agro tech demonstration centres and distribute kits, which basically tells them how to use agro tech in their day-to-day working across the country," the minister added. The minister said, around 530 prototype campus has already been developed under the textile ministry in the past 4 years and 8 centres of excellence has already been set up at the cost of close to a Rs 140 crore. "We have already trained over 22,000 Indians only in this area of technical textiles in the past 3-4 years," she added. But our capacity to grow and touch the sky is only possible with the industry partnership and farmer participation, she said. "In one such participation, we will be setting up an innovation centre for technical textile in the hub of the national capital next month with the support of the industry," she added. The ministry had constituted a committee under V K Saraswat to give recommendation on research and development plan for the future growth of technical textile and specially preparing a way forward for high perform ace speciality fibres in India, the minister informed. The report on technical textiles highlights that one of the biggest challenges is the imports of speciality fibres, Irani said, adding that "we are the affordable innovators of the world."
Source: Economic Times
NEW DELHI: India is optimally leveraging technology to offer various services on digital platforms and is poised to take full advantage of new generation of technological advancements Commerce and Industry Minister Suresh Prabhu said Tuesday. Speaking at Convergence India 2019 the minister said that digital technologies are advancing and becoming all pervasive. “Some countries will have a natural advantage in offering these services for all the platforms be it the government services business to business or any other service” Prabhu said. He said the future of digital services will be based on convergence and effective use of broadband. The government is committed to promote the use of technology he said and added that there is a Rs 5 000 crore action plan for champion sectors which includes in IT and related services. “Our ministry is working on promoting services in a big way for which we set aside Rs 5 000 crore to promote champion sectors of the service sector in which IT and related services will play a key role...We will ensure the sector develops creates job opportunities...and ensure complete coverage of the population to eradicate digital divide through digital literacy and infrastructure development ” the minister said.
Source: Tecoya Trend
Under the aegis of Ministry of Textiles, for the first time in the history of India, we have dedicated to the nation 207 HSN codes for technical textiles. I see this as a function of unleashing the potential of not only technical textiles but also of an industry which impacts both our farm life and our space pursuits. This decision alone can enable the sector to grow to a market size of 2 lakh crore rupees by 2020-2021”. This was stated by the Union Textiles Minister Smt. Smriti Zubin Irani, at the National Conclave on Technical Textiles, jointly organized by the Ministry of Textiles and FICCI, in Mumbai today. Stating that the notification is a milestone which is significant for the industry, the Minister thanked the industry who have guided and inspired the Government in this initiative. Speaking about the potential of agricultural textiles, the Minister said that it has been proven that the income of a farmer who uses agrotech goes up by 60% – 70%. She said that the contribution of agrotech is at the forefront of the Prime Minister’s desire to double farmers’ income. Technical textile industry can proudly say that we help those who feed us, said the Minister. The job-giving potential of the technical textiles sector is huge every Rs. 1 crore investment generates 70 jobs, said the Minister. She said that this will lead to growth in sectors such as research, education and facilities such as testing labs as well. Partnership between agrotech companies and Krishi Vigyan Kendras can be very impactful, noted the Minister. She cited a McKinsey Global Institute report, according to which application of agricultural technologies can help close to 90 million farmers by 2025. Speaking of the historic initiative of Ayushman Bharat, the Minister said that the government is poised to unleash close to 1.5 lakh health and wellness centres across the country. These will be in need of medical textiles. Given standardization and need for quality control, our domestic manufacturers can compete and contribute to the medtech segment, said the Minister. Underlining the steps taken by the Government for promotion of technical textiles, the Textiles Minister said that 530 prototype samples in technical textiles have already been developed within the sphere of the Ministry in the past four years 8 Centres of Excellence have been set up at a cost of 140 crore rupees 22,000 Indians have been trained in technical textiles in the past 3-4 years about 650 conclaves and seminars at ground level have been organized 11 incubation centres have been set up 40 geotextile projects for roads, water reservoirs and slope stabilization have been undertaken steps have been taken to ensure that farmers embrace agrotech through demonstrations at 54 agrotech demonstration centres and kits have been distributed kits on using agrotech in day-to-day working. The Minister informed that a committee has been constituted to give recommendations for R&D plan growth of the technical textile industry and specifically for preparing a way forward for high performance specialty fibres in India. Noting that imported specialty fibres is one of our biggest challenges, Smt. Irani said that India is well-poised to ensure that the technology is affordable, we being the affordable innovators of the world. Smt. Irani announced that an Innovation Centre for Technical Textiles will be set up at the national capital next month, with industry support. She said that steps like this can help us go beyond the 2 lakh crore target for the sector. Wishing the best for the deliberations and debate for the day, the Minister hoped that the way forward that is determined the contribution during the Conclave will be a milestone not only for the technical textiles industry but also for the future of India and the Indian economy.
Source: Clipper28
MUMBAI — The export data for past two-three months which are showing low or marginal growth is a matter of concern to all. This is stated by Mr Ganesh Kumar Gupta President Federation of Indian Export Organisations (FIEO). Mr Gupta expects that the budget though an interim one will unveil certain benefits particularly for MSME sector and for those specific product clusters and research & development which will help in increasing exports giving boost to manufacturing and job creation. Exporters have to still bear the taxes on petroleum and electricity state levies such as Mandi Tax etc. and the Budget will provide measures for refund of the same to exporters hoped the FIEO President. He is of the view that promoting exports in the budget and giving it a much-needed support at a time when global economy is facing slowdown will come as a morale booster for the sector. Employment creation is the biggest challenge in the country and therefore budget should provide tax concession to units which create jobs in the country. Every incremental creation of jobs should provide tax deduction equivalent to the employees cost to unit said Mr Gupta.President FIEO emphasized that with a view to double farmers’ income the Budget should allocate substantial fund for backward and forward linkages in agriculture including in cold chains and warehouses so that India build on a stable Agri Export Policy announced earlier. FIEO Chief added that we are looking towards USD 2 trillion of exports and imports by 2025. This requires huge marketing support through a planned “Export Development Fund” with a corpus of at least 0.5% of the export value so that exporters can be supported in their aggressive marketing.
Source: Tecoya Trend
The two-day Maritime Conclave 2019 will be held in Bhubaneswar between February 14-15 in the East Coast Railway Stadium said Visakhapatnam Port Chairman MT Krishnababu. While speaking at a road show here, he requested the local stake-holders to participate in large numbers to discuss and find solutions for current issues. He also highlighted the importance of the sector and the strides it had made in recent times along with the many challenges facing the sector. Sagarmala project Director DK Rai said the conclave would give stake-holders from all over the country an opportunity to discuss the problems and challenges. He said the capacity of the major ports in the country would rise to 500 million tonnes by 2025 and the non-major ports, several of them in the private sector, would also play a crucial role. The conclave is being organised by the Union Ministry of Shipping and the Union Ministry of Petroleum and Natural Gas in association with several trade and industry associations like CII, FICCI and ASSOCHAM.
Source: Business Line
The Board of Trade (BoT) will seek views of stakeholders including various government departments, exporters and industry members on February 15 to frame a new foreign trade policy and boost shipments of goods and services, an official said. The 70-member board, a top advisory body on external trade, is chaired by Commerce and Industry Minister Suresh Prabhu. “Views would be taken on the new foreign trade policy, which is scheduled to be released later this year,” the official said. The objective of BoT is to have continuous discussion and consultation with trade and industry. It advises the government on policy measures related to the foreign trade policy in order to boost the country’s trade. The Board’s last meeting was held in June 2017. The BoT comprises 19 members from industry and academia (non-official members); 31 heads of trade and industry associations (ex-officio members); and 20 top officials including 13 secretaries to the Government of India; a deputy governor of the RBI; Chairman of the Railway Board; and Chairman of the National Highways Authority of India. Besides, the Director General of Foreign Trade is the member secretary of the Board. In the meeting, representatives will also be there from the Confederation of Indian Industry, exporters’ body FIEO and the Council for Leather Exports (CLE). Federation of Indian Export Organisations (FIEO) President Ganesh Kumar Gupta demanded incentives in the forthcoming foreign trade policy to boost outbound shipments and creation of jobs. The new policy should provide higher fiscal support to sectors which create employment in the country, he said.
Source: Business Line
The GST officials are working out mechanism to prompt taxmen to initiate profiteering complaints, which could be taken up for further investigation by the Directorate General of Anti-Profiteering. Currently, only consumers file complaints against businesses for not passing on the benefits of reduction of the rates of Goods and Services Tax (GST) on various products. Under the standard operating procedure (SoP) being worked out by the GST officials, the Central and state government tax officers will be encouraged to take up suo moto the issue of profiteering by businesses, sources said. Once the tax officers find that GST benefits have not been passed on to the consumers, they will refer the case for further investigation to the Directorate General of Anti-Profiteering (DGAP). As per the procedure, the DGAP submits its investigation report to the National Anti-Profiteering Authority (NAA), which decide on the final quantum of profiteering and the monetary penalty. In 2018, the NAA received 80 investigation reports from the DGAP and issued final orders in 29 cases. Of this, 9 businesses were found to have not passed on benefits of rate cuts of about Rs 559.90 crore to consumers. So far in 2019, the NAA has passed orders in 3 cases. Sources said as consumers often are reluctant to file complaints, the GST officials and the NAA are keen to rope in the field formation for filing complaints of profiteering against businesses. Sources further noted that consumers usually lag the expertise to ascertain whether the GST rate cut benefits have been passed on to them by way of reduction in prices. The tax officials, they said, will be able to find out with greater certainty, whether the tax cut benefits have been passed on to the consumers. The proposed mechanism will also act as a deterrent for businesses who show reluctance in passing on GST benefits. The GST has replaced a tangle of local taxes and entry levies. Since its roll out on July 1, 2017, GST Council has reduced tax rates on a host of items. Of the 1,216 commodities being used at present, broadly 183 are taxed at zero rate, 308 at 5 per cent, 178 at 12 per cent, 517 at 18 per cent and 28 items in the 28 per cent slab.
Source : Financial Express
Foreign direct investment (FDI) during the previous fiscal grew 18 per cent to Rs 28.25 lakh crore, data from the Reserve Bank of India (RBI) showed Monday. FDI increased by Rs 4,33,300 crore, including revaluation of past investments, during 2017-18 to reach Rs 28,24,600 crore in March 2018 at market value, according to RBI data on ‘Census on Foreign Liabilities and Assets of Indian Direct Investment Companies, 2017-18’. The RBI said as many as 23,065 companies responded to the latest round of the census, of which, 20,732 firms had FDI or ODI in their balance sheet in March 2018. Overseas direct investment (ODI) by Indian companies increased by 5 per cent to Rs 5.28 lakh crore.“FDI companies witnessed a substantial increase in other investment liabilities, largely due to the increase in trade credit,” the RBI said. The census showed that Mauritius continued to be the largest source of FDI in India (19.7 per cent) followed by the US, the UK, Singapore and Japan. In case of overseas investment by Indian companies, Singapore (17.5 per cent) was the major destination, followed by the Netherlands, Mauritius and the US. Manufacturing sector had majority share in total FDI. ‘Information and communication services’ and ‘financial and insurance activities’ were other major recipients of FDI. The RBI said the data released are the provisional results of 2017-18. In the census participating companies, 15,104 were common from the previous census round and 5,628 reported for the first time. Besides, 1,916 companies that reported in the previous round did not report in the latest round. At the aggregate level, foreign equity participation was very high as 84 per cent of the companies that reported inward FDI were subsidiaries of foreign companies (i.e., single foreign investor holding more than 50 per cent of total equity), RBI said.
Source: Financial Express
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1328.59 |
USD/Ton |
0% |
1/29/2019 |
|
VSF |
1969.90 |
USD/Ton |
0% |
1/29/2019 |
|
ASF |
2388.79 |
USD/Ton |
0% |
1/29/2019 |
|
Polyester POY |
1265.57 |
USD/Ton |
0% |
1/29/2019 |
|
Nylon FDY |
2743.18 |
USD/Ton |
0% |
1/29/2019 |
|
40D Spandex |
4744.96 |
USD/Ton |
0% |
1/29/2019 |
|
Nylon POY |
2535.59 |
USD/Ton |
0% |
1/29/2019 |
|
Acrylic Top 3D |
1467.97 |
USD/Ton |
0% |
1/29/2019 |
|
Polyester FDY |
2995.26 |
USD/Ton |
0% |
1/29/2019 |
|
Nylon DTY |
5590.16 |
USD/Ton |
0% |
1/29/2019 |
|
Viscose Long Filament |
1542.11 |
USD/Ton |
0% |
1/29/2019 |
|
Polyester DTY |
2565.24 |
USD/Ton |
0% |
1/29/2019 |
|
30S Spun Rayon Yarn |
2728.35 |
USD/Ton |
0% |
1/29/2019 |
|
32S Polyester Yarn |
1994.37 |
USD/Ton |
0% |
1/29/2019 |
|
45S T/C Yarn |
2876.63 |
USD/Ton |
0% |
1/29/2019 |
|
40S Rayon Yarn |
2150.06 |
USD/Ton |
0% |
1/29/2019 |
|
T/R Yarn 65/35 32S |
2535.59 |
USD/Ton |
0% |
1/29/2019 |
|
45S Polyester Yarn |
3024.91 |
USD/Ton |
0% |
1/29/2019 |
|
T/C Yarn 65/35 32S |
2520.76 |
USD/Ton |
0% |
1/29/2019 |
|
10S Denim Fabric |
1.36 |
USD/Meter |
0% |
1/29/2019 |
|
32S Twill Fabric |
0.83 |
USD/Meter |
0% |
1/29/2019 |
|
40S Combed Poplin |
1.11 |
USD/Meter |
0% |
1/29/2019 |
|
30S Rayon Fabric |
0.65 |
USD/Meter |
0% |
1/29/2019 |
|
45S T/C Fabric |
0.70 |
USD/Meter |
0% |
1/29/2019 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.14828 USD dtd. 29/1/2019). The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Pakistan concluding a free trade agreement with India as well as the United States is difficult now and a deal with New Delhi will depend on improvement in political relations, a top adviser to Prime Minister Imran Khan has said. The comments of Abdul Razak Dawood, Pakistan Prime Minister's Advisor on Commerce, Textile and Industry came on Monday in response to questions on the possibility of free trade agreements with the US and India. When asked to comment on the reported statement by Republican Senator Lindsey Graham that the US may offer Pakistan a Free Trade Agreement if Islamabad renders full support and cooperation to bring the Afghan Taliban to the negotiating table for a dialogue to end the 17-year brutal was in Afghanistan. "Pakistan is doing a great job.... But when we talk about the FTA with the United States it is very difficult as it will take five to seven years," Dawood said. Pakistan's ties with the US remains uneasy over Islamabad's failure to curb terrorist activities from its soil. When asked whether the government led by Prime Minister Khan expected improvement in free trade relations with India via the Wagah border, Dawood said: "It depends on the improvement in political relations between Pakistan and India. An FTA with India is not easy now." Pakistan is yet to grant the Most Favoured Nation (MFN) status to India. Dawood said in November last year that there no immediate plans to grant MFN status to India. India has already granted the MFN status to all members of the World Trade Organisation, including Pakistan. Dawood's comments on Monday came a day after Fawad Chaudhry, Minister of Information of Pakistan, said that the time is not right to hold a dialogue as the Indian leaders are preparing for the upcoming general elections. "It is useless to talk to them (India) now unless there is some stability. We will move forward once the new government is formed after the elections," Chaudhry said. "We have delayed our efforts to hold talks with India because we do not expect any big decision from the present Indian leadership," he said. The relations between India and Pakistan remains strained after the terror attacks by Pakistan-based terrorists and no bilateral talks taking place between them for more than two years.
Source: Money Control
Germany’s Karl Mayer has launched a new project named ‘Textile-circuit’ that works on established warp knitting technology to produce highly innovative e-textiles. Textiles can be used for heating, cooling, and lighting. They can measure the heart rate and can be launched into space for use as space reflectors, if they are electrically conductive. The electrical conductivity of warp-knitted textiles is the subject of extensive development work at Karl Mayer. In this project, multibar raschel machines are used with and without a jacquard facility to incorporate conductive yarns directly into the textile during manufacture. The first results are now available and show what can be achieved, including the use of textiles for remote control, according to Karl Mayer. Electrically conductive structures with a virtually unlimited range of designs can be produced on multibar raschel machines. This is possible, thanks to multibar patterning using Karl Mayer’s innovative string bar system, with which the yarns can be positioned individually and as required onto a ground – following the principles of tailored fibre placement. The ground can be produced with a wide variety of different designs, and jacquard patterns can also be worked, depending on the type of machine. Along with extensive design freedom, warp knitting also delivers maximum efficiency when producing electrically conductive textiles. Furthermore, the typical performance features of textiles, such as softness, flexibility, elasticity and breathability, are fully retained. At the functional heart of these innovative e-warp-knitted textiles are filaments containing metal, such as Elitex. According to Sophia Krinner, a textile product developer at Karl Mayer, silver-plated polyamide can be processed very easily on multibar raschel machines. Her aim in the next few stages is to optimise the sequences on the machine to suit mass production. (GK)
Source: Fibre2fashion
Turkish Airlines launched the first direct flight from Ankara to Rome after 60 years on Jan. 7. The new route seals the strong relations between Turkey and Italy. Indeed, with its 131 flights a week to 10 Italian cities, Turkish Airlines is the main carrier for Italian tourism. The mutual connections are long-standing: Over the centuries, Italy and Turkey have built important ties and nowadays, they share economic connections. The industrial Italian presence in Turkey dates back to the '60s when the first joint venture – Tofaş – was established by Turkey's Koç Holding and Italy's Fiat group. Today, the companies with Italian participation in Turkey number more than a thousand. Some examples include: In the automotive sector with Fiat-Tofaş, Fiat-Türk Traktor in banking with Yapı Kredı and Unicredit infrastructure with Astaldi defense with Leonardo agribusiness with Barilla and Ferrero along with other sectors such as textiles, chemical and services. From an economic perspective, Italy is Turkey's second-largest European trading partner after Germany and the fifth worldwide after China, Germany, Russia and the U.S. On the other side, Turkish investments in Italy have recently seen an important increase by reaching $387 million between 2002 and 2017, according to recent data released by the Central Bank of the Republic of Turkey. In 2018, two Turkish companies, Trakya Cam Sanayi from Şişecam Group and Kastamonu Entegre, invested around $198 million in Italy. By acquiring an Italian group operating in the furniture sector, Kastamonu Entegre has invested $180 million to restart business production, while Trakya Cam Sanayi has doubled the production of glass with an investment of $17.8 million.
Turkey's role
Certainly, Turkey plays a strategic role in Italy's economy and vice versa. As the second manufacturing country in Europe, related to textile machines, Italy ranks as the first exporting hub for Turkey. While textiles are the leading voice in Turkish exports, Italy is the leading textile supplier in Turkey as well as one of the most important customers. Indeed, Turkey is one of the world's biggest exporters of textile products hence all the related know-how is of crucial importance. The existing relations between the two economies takes into account Italy's ability to export capital and technology in its driving sectors, namely textile, automotive and agribusiness and on the other side, the specialized Turkish labor force and the capillary knowledge of both its domestic and neighboring markets. As it is located between Europe, the Middle East and the Caucasian region, Turkey's geographical position is strategic both from a political and economic point of view. Turkey is a key outlet market, especially for capital goods that exploit a consolidated complementarity with the local industrial system, as Italy provides the most up-to-date technology to improve production in the leading sectors. This is also based on the wide areas of development for sectors where Italian production stands. Namely, the fields of energy, defense and mechanics are expected to provide more opportunities and growth prospects. In this regard, it is worth the collaboration in the aeronautical sector between Leonardo and TAI for the joint production of ATAK military helicopters as well as the implementation of the Gokturk satellite.
Source: Daily Sabha
ISLAMABAD: Embassy of Azerbaijan Deputy Head of Mission Chingiz Coribhi said on Tuesday that Azerbaijan and Pakistan enjoyed excellent political relations and there was a need to focus on strengthening economic relations for mutual benefit.“A joint trade exhibition of Pakistan, Azerbaijan and Turkey would be held in Baku, Azerbaijan, in April this year,” he said while exchanging views with the members of Islamabad Chamber of Commerce and Industry (ICCI). “The exhibition would include pharmacological, medicine, cosmetics, surgical instruments, cutlery, electrical appliances, textile, leather, sports and sportswear, furniture, homemade crafts, food and accessories.” Chingiz Coribhi said Pakistani exporters should take an active part in the joint expo to show the potential of their products to the Azeri consumers. He said Azerbaijan was also exploring the possibility of launching direct flights with Pakistan to promote trade relations, adding that his country was keen to enhance trade ties with Pakistan as both countries have tremendous potential in this regard. He said the Embassy of Azerbaijan had set up an easy visa regime for Pakistan due to which visa applications from Pakistan had witnessed a significant increase. He also lauded Pakistan for announcing visa on arrival facility to Azerbaijan. Speaking on the occasion, ICCI President Ahmed Hassan Moughal said Pakistan could export many products to Azerbaijan including readymade garments, cotton products, engineering goods, consumer goods, pharmaceuticals, rice, textile fabrics, sports goods, surgical instruments and tents. He added that the country could also import non-ferrous metals, oil and oil products, canned fruit juices, raw cotton, and liquefied petroleum gas from Azerbaijan. He stressed that both countries should focus on increasing business-to-business contacts between private sectors and encourage frequent exchange of delegations to identify new areas of bilateral cooperation.
Source: Pakistan Today
