Union Minister of Commerce & Industry Suresh Prabhu on Tuesday addressed the first stakeholder consultation on the draft logistics policy prepared by the Department of Logistics of the Ministry of Commerce & Industry in New Delhi. The National Conference on Logistics Policy is being held on 19 - 20 February, 2019 in New Delhi. Speaking on this occasion Commerce Minister said that the cost of logistics in India is extremely high as compared to other countries. India is now aiming to become one of the most efficient logistics providers in the world. Commence Minister further stated that for this the Ministry of Commerce has drafted a National Logistics Policy which will provide an overall vision and direction to integrated development of logistics in the country. Prabhu informed that the two-day national conference has been organized to seek inputs of the policy from all the stakeholders who will be the end users of the National Logistics Portal. The Minister further said that the vision of the policy is to ramp-up economic growth and trade competitiveness through an integrated, seamless, efficient, reliable and cost effective logistics network. Prabhu informed that logistics is a very important component of ease of doing business as 80 % of ease in business relates to logistics. In order to ensure cross-ministerial coordination, a robust governance framework has been set up bringing together government, academia, and industry. Prabhu promised that he will personally oversee the implementation of the plan and eliminate any bottlenecks. He also informed that the Ministry is putting in place the national logistics fund to help implement the plan. He hoped that the two-day consultation will result in fruitful discussion and he assured that the inputs given by the stakeholders will be incorporated in the policy. On this occasion, Commerce Minister launch the SAFAR Mobile App. This app will help to gauge the actual issues faced by transporters on the road. The app tracks the incidence of a number of parameters faced by transporters and automatically records the location of the issue.
Source: SME Times
With a very innovative and pro-industry initiative, Hon’ble Union Minister of Commerce & Industry and Civil Aviation, Shri Suresh Prabhu, interacted with representatives of industry and trade associations and export promotion organizations from his office on 18th February at 3pm through video conference. Hon’ble Minister explained some of the recent initiatives taken by the government for facilitating greater trade in the country, including “Ease of Doing Business” initiatives at the district level in states. He also shared his vision of industry and trade in India. SRTEPC Chairman Shri Sri Narain Aggarwal welcomed the initiative of the Ministry of Commerce & Industry and congratulated Shri Suresh Prabhu Hon’ble, Union Minister of Commerce & Industry and Civil Aviation for initiating this first ever direct interaction with trade and export bodies at this mega scale. Sri Narain Aggarwal informed that this innovative initiative of the Government will be helpful for the stake holders from all corners of India to participate and directly convey their concerns to the Ministry. It will also be helpful to establish a dialogue between the Government and the Industry, Sri Narain Aggarwal stated. During the video conference, the Hon’ble Minister mentioned that the GST issues are taken up with the Ministry of Finance which is likely to come up with positive announcements for the exporters. He mentioned that the Government is giving special focus on the MSEMs by ways of introducing various encouraging Schemes including the recent 100 Days outreach Programme and introduction of up to 1 crore loan within 59 minutes. He also mentioned that Government is positive to consider Export credit in the category of priority sector lending. Another initiative taken by the Government is to improve the logistics of the country for facilitating greater trade. The Minister said that Government’s duty is to help industry to grow and facilitate business by simplifying regulations. The initiatives taken by the Government such as “Make in India”, “Ease of Investment”, Government -e - Marketing (GeM), establishment of two Mega Convention Centres, setting up of standards, start dialogue with EU for concluding India – EU FTA, working with WTO, research inputs from IIFT & IIM, etc. were also highlighted by the Minister. He informed about the improvement made by India to 77th position in the Ease of Doing Business ranking. The Minister informed that exports have been growing for the last three years. He said start-up India is the largest programme in the world for new business ventures and the Government is making all efforts to remove unnecessary hurdles. Shri Sri Narain Aggarwal, Chairman SRTEPC stated that the initiatives taken by the Government will help in improving India’s exports, specially from the small and medium units. Sri Aggarwal thanked the Hon’ble Union Minister for addressing the GST issues on priority basis which will give immediate respite to the Manmade made fibre textile segment, Sri Aggarwal stated. Ninety- two trade bodies participated in this interaction across the country.
Source: Textile Value Chain
India will soon have its first Centre for Textiles Trends Forecasting in New Delhi, according to textiles secretary Raghvendra Singh, who said the government had already approved the proposed centre that is expected to start operations within February in a prime property of the ministry in the heart of the city. The centre is aimed at boosting exports. The centre will include an incubation and innovation unit to aid design interventions and incubate textile start-ups, and a crafts and textiles depository, a news agency quoted Singh as saying. India has been depending on international trends, which are then passed on to craftsmen to make copies, he said. The centre would make use of commercial intelligence in the sector to forecast what trend would come in the next six months. (DS)
Source: Fibre2Fashion
Of the 1484 companies admitted for resolution under IBC, 612 are from the broader manufacturing sector, which includes metals, textiles, food and beverages and machinery and equipment. Though distress ruled over most sectors in the Indian economy in the last couple of years, the data of Insolvency and Bankruptcy Board of India (IBBI) shows that the companies in real estate and renting business have been affected most, besides the same in construction, retail & wholesale trade, metals and textile. Of the 1484 companies admitted for resolution under Insolvency and Bankruptcy Code (IBC), 612 are from the broader manufacturing sector, which includes metals, textiles, food and beverages and machinery and equipment. There are only a few non-affected sectors, which include information technology (IT) and the allied services, while IBC does not cover the bankruptcy in banking, insurance and financial services (BIFS) sectors. Though gross financial mismanagement is considered one of the reasons for ending up in bankruptcy, the sectoral turbulences have also played a part in many cases. From real estate and renting sector, 235 companies have filed for bankruptcy in the last two years until December 2018. Of that, 87 cases are closed and hearing is going on in 148 cases. The lenders are struggling to recoup loans, amounting to $20 billion from troubled property developers after worst home-sales slump of the decade. At present, the banks are taking control of land parcels and unfinished projects that can be sold along with loans for recovering the dues. The fact is, investing in residential real estate will not give 20-30 per cent annual returns or double your investment in about 3-5 years any more as it did back in the golden days of 2001-2007. The slowdown in the construction industry has led to the bankruptcy of 153 companies, while wholesale & retail trade (151 companies in the sector have admitted for bankruptcy trials) was affected by the sluggish demands. Of the 612 manufacturing companies admitted for resolution, 259 cases are closed after hearing, while 353 cases are pending. Almost 20 months ago, Reserve Bank of India (RBI) had first asked the banks to take the 12 big loan defaulters to National Company Law Tribunal (NCLT) and try under IBC. The move, which was perceived as a bold step, was expected to tame the ballooning non-performing assets (NPAs) on the books of banks and revive the debt-ridden companies bringing in a responsible management, has not achieved the desired results. Of the 1484 bankrupt companies admitted for resolution, just 79 are being sold until December-end. The liquidation process initiated in 302 cases and 62 companies are withdrawn from insolvency using the amended section 12A. Another 142 cases are closed on appeal or settled. There are 898 cases pending for resolution. The IBC allowed resolution time of 270 days are over in 275 cases. The current law allows a maximum 270 days for resolution--- an initial 180 days and an extra 90 days extension on case-by-case basis. By December end, 166 cases have crossed initial deadline of 180 days. One reason for the delays is that the government has made many changes in the law through amendments. There are lengthy legal proceedings due to complications in defining the law. The lack of sufficient resources in terms of insolvency professionals, judicial benches, and technical experts at NCLT is another issue. The resolution process was first initiated in the 12 big companies, which together had an outstanding claim of Rs 3.45 lakh crore, and soon after four companies had been handed over to the new promoters -- Electrosteel Steels to Vedanta, Bhushan Steel to Tata Steel, Monnet Ispat to JSW Steel, and Amtek Auto to Liberty House. NCLT had ordered to liquidate Lanco Infratech and Jyoti Structures. The remaining six cases are still stuck in the lengthy court proceedings. The Ahmadabad bench of the National Company Law Tribunal (NCLT) recently concluded the hearing on the Rs 42,000 crore resolution plan of ArcelorMittal for the distressed Essar Steel India and reserved its judgement.
Source: Business Today
Union Minister of Textiles, Smriti Zubin Irani, launched four projectsin North East for the development of silk sector through video conference in New Delhi today. Smriti Zubin Irani inaugurated Muga silk seed production centre in Tura, Meghalaya, silk printing and processing unit in Agartala, Tripura, Eri spun silk mill in Sangaipat, Imphal and development of sericulture in Mamit, Mizoram. The Minister also inaugurated new office building of Weavers Service Centres (WSC) in Indore, Madhya Pradesh and Kannur, Kerala. She interacted with the people’s representatives, officials and farmers and urged them to generate awareness among the farmers and weavers about loan schemes available under MUDRA YOJANA and recently announced income support programme for farmers – PM Kisan and pension scheme for workers in unorganized sector- Pradhan Mantri Sram Yogi Mandhan Yojna. Muga Silkworm Seed Production Centre (SSPC), Tura, Meghalaya is one of the projects taken up directly by Centre Silk Board(CSB) for implementation under Integrated Sericulture Development Project (ISDP) of NERTPS for creation of seed infrastructure units in NE States. The infrastructure facilities available presently with the State are insufficient to meet the demand of required quantity of Muga basic seed.The creation of additional Muga SSPC in Tura will strengthen the Muga seed sector to make the State self-sufficient for production and supply of Muga silkworm seed. The seed production capacity of the unit is one lakh commercial dfls per year and around 300 farmers will be covered directly. Silk Printing & Processing unitin Agartala, Tripura has been setup at a total project cost of Rs.3.71 crore for production, printing and processing of 1.5 lakh meter silk per annum.The project has been implemented directly by the state in coordination with CSBand is ready to commence production process. Textiles printing is a process in which designs are printed on the textiles material using various methods and techniques and done on finished fabrics. These printed fabrics are used for sarees,dress materials, home furnishings and upholstery. Most of the fabrics produced on handlooms and powerlooms in Tripura are sent to Kolkata, Bengaluru, Bhagalpur and other places for value addition by processing and printing. This unit will lead to higher and sustainable growth in the entire textile value chain from fiber to finished products in the State and improve the local weaver artisans. Eri Spun Silk Millin Sangaipat, Imphal East, Manipur was approved with a total project cost of Rs.21.53 crore was approved in September 2018and will be implemented directly by the State in co-coordination with CSB.Around 65% of Eri cocoons produced in Manipur are converted into yarn within the State through conventional spinning device Takli, Pedal operated and Motorised Eri Spinning machines. The rest of around 35% of Eri cocoons is marketed outside the statewithout value addition resulting in less income to farmers. The installed production capacity of Mill is 55 MT of quality Eri spun silk yarn by consuming about 74 MT of Eri cocoons per annum. The expected turnover at installed capacity utilization of 80% during the 1st year is around Rs.10.00 crore with a net profit of Rs.3.00 crore. The project is expected to generate direct employment to 107 persons throughout the year and indirect employment to around 1,500 Eri farmers through the backward linkage and around 730 weavers through forward linkage. The project for development of sericulture in the aspirational district of Mamit, Mizoram, was approved with a total cost of Rs.11.56 crore, which includes Government of India share of Rs.10.82 crore. The project will be implemented directly by the statein co-coordination with CSB.Mamit is one of the aspirational districtsidentified by NITI Aayog for overall development from 2018-19 onwards. This includes 14 districts in NE region covering all 8 NE States. The project is for development of Eri culture in Mizoram which will focus on creation of pre & post cocoon activities linkage from raising of silkworm food plant, rearing house, silkworm rearing activities, spinning, weaving along with capacity building. It will also help the tribal people by providing employment as well as increase productivity along with high quality cocoons, yarns and quality finished products. The project covers 684 beneficiaries and would generate employment of 3,250 man-year.It is estimated that established Eri plantation of 500 acres (400 acres new plantation and 100 acres existing plantation) will earn revenue of around Rs.60,000/- to 70,000/- per acre/annum depending upon the cocoon rates and including the selling of pupae. WSC, Kannur was established in 1972 and was functioning from hired premises. Construction work commenced in October, 2016 and has been completed in February, 2019 at a total cost of Rs.228.53 lakh. WSC, Indore was established in 1962 and was running from hired premises. Construction work of the new building commenced in October, 2017 and was completed in December, 2018 at a total cost of Rs.209.43 lakh.
Source: Odisha Diary
Odisha industries department principal secretary Sanjeev Chopra said the proposal has been approved in the single window clearance on Tuesday. Aditya Birla Fashion and Retail (ABFRL NSE 0.51 % ) is investing Rs 114 crore to set up a new apparel manufacturing plant in Rayagda district of Odisha with potential to create over 2750 jobs. This unit will have a capacity to produce 3.6 million pieces of apparel per annum. Odisha industries department principal secretary Sanjeev Chopra said the proposal has been approved in the single window clearance on Tuesday. “This will be the second apparel manufacturing unit of ABFRL in Odisha and comes on the heels of the first unit in Bhubaneswar set up in November last year,” he said. Chopra said this will be a milestone development in Rayagada district as 2,750 jobs will be created, most of which will be for women. The company has indicated in its proposal that the new up-coming plant will be financed 30% by equity and balance 70% by term loan. The project will be implemented within 24 months from the date of approval. ABFRL sells in-house brands such as Louis Philippe, Allen Solly, Peter England and also operates the fashion retail chain Pantaloons. The company’s first unit in Odisha has a capacity of four million shirts per annum and employs around 2,000 employees who are mostly women.
Source: Economic Times
Apparel exports have witnessed a sharp drop in demand leading to towering inventories and rising liabilities of local manufacturers, industry players said. Exports of apparels have dropped by over 30 per cent in comparison to a year ago, experts said. Madhya Pradesh Textiles Mills Association secretary M C Rawat said, “Apparel exports are going through a rough phase due to price competency. Demand for locally manufactured apparels has gone down in the international market owing to lack of tax benefits as availed by other manufacturing countries.” MP is the fourth largest cotton producing state but despite that local textile industries are getting tough competition from rivals due to higher costing. Industrialists said that other leading textile exporters get duty exemption for textile industries unlike India which leads to higher costing for Indian products. A senior executive at a leading apparel manufacturer from Dhar said, “We have seen a drop of over 30 per cent in exports from our regular markets. Traditional customers are shifting base to other countries due to less prices but for us it is not possible to cut down the cost as we do not enjoy any tax benefit unlike our rivals.” India has a share of over 5 per cent of global textile and apparel trade of which garment contribute the most 37 percent followed by cotton yarn and fabrics which compromis about 23 per cent. Local manufacturers said in absence of demand, stocks are going up and running expenses are mounting.
Source: Times of India
Chief Minister H D Kumaraswamy on Monday said China model industrial clusters would generate at least 1 lakh jobs in each district. He was speaking at the launch of the China model industrial development cluster for toys in Koppal and another cluster for textiles in Ballari. The clusters were announced in last year’s budget. Karnataka, now a Rs 12 lakh crore economy, is at the forefront of India’s march towards economic growth. State’s economy grew at a rate of almost 10% last year, faster than the national average. In the coming days, our government is committed to developing nine such world-class clusters.” He also said the government would provide quality skills training. The training centres would be set up at Rs 5 crore each at Ballari and divisional training centres at Mysuru, Belagavi, Kalaburagi and Chitradurga.
Development of districts
Deputy Chief Minister G Parameshwara said the industrial cluster development would help the districts attain development and thereby decongest Bengaluru.“When the jobs are generated at other districts, the migration to Bengaluru can be reduced. In the coming months, we aim to create employment through capital investment. Bengaluru is second to Berlin with the most number of startups,” he said.
Source: Deccan Herald
Weavers from Bihar will now showcase their products like shirts, kurtas, dhotis, trousers and towels on Amazon India, which signed a memorandum of understanding (MoU) with the Bihar State Khadi and Village Industries Board last week. The MoU will cover around 80 weaver societies registered with the board. The arrangement is the first of its kind in the state. A year ago, Amazon had entered into a similar arrangement with the Uttar Pradesh Khadi and Village Industries Board. The company will not train the weavers in Bihar. It will only provide marketing support and allow weavers to widen their consumer base, according to Indian media reports. (DS)
Source: Fibre2fashion
A series of dialogues initiated to get opinion of industrial sectors. A new draft of industrial policy being prepared in Rajasthan after the recent change of government has laid emphasis on investments and employment generation, while ensuring the participation of all stakeholders. A series of dialogues has been initiated to get the opinion of different industrial sectors. In the first dialogue with representatives of food processing and textile industries held here on Tuesday, key inputs were obtained in the areas such as research and development, export promotion, land conversion and construction of dedicated corridors. State Industries Commissioner Krishna Kant Pathak said the draft would be finalised after the study of similar policies in other States and presented before the stakeholders.
‘Resolving issues’
“The direct dialogues with the industries will help resolve their issues and facilitate the incorporation of provisions which will speed up Rajasthan’s industrial development.” he said. Industry representatives attending the dialogue, organised at Udyog Bhawan here, raised the issues of giving the status of industry to warehouses, removal of ban on export of mustard oil, abolition of mandi tax, review of fixed power tariff, availability of natural gas and the loss caused by lack of conversion of fabric into apparel.
Source: The Hindu
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1313.23 |
USD/Ton |
0% |
2/19/2019 |
|
VSF |
1988.31 |
USD/Ton |
0% |
2/19/2019 |
|
ASF |
2379.77 |
USD/Ton |
0% |
2/19/2019 |
|
Polyester POY |
1252.67 |
USD/Ton |
0% |
2/19/2019 |
|
Nylon FDY |
2791.91 |
USD/Ton |
1.07% |
2/19/2019 |
|
40D Spandex |
4727.04 |
USD/Ton |
0% |
2/19/2019 |
|
Nylon POY |
2526.01 |
USD/Ton |
0% |
2/19/2019 |
|
Acrylic Top 3D |
1462.43 |
USD/Ton |
0% |
2/19/2019 |
|
Polyester FDY |
3057.80 |
USD/Ton |
1.47% |
2/19/2019 |
|
Nylon DTY |
5583.82 |
USD/Ton |
0.27% |
2/19/2019 |
|
Viscose Long Filament |
1536.29 |
USD/Ton |
0% |
2/19/2019 |
|
Polyester DTY |
2614.64 |
USD/Ton |
1.14% |
2/19/2019 |
|
30S Spun Rayon Yarn |
2718.05 |
USD/Ton |
0% |
2/19/2019 |
|
32S Polyester Yarn |
2001.61 |
USD/Ton |
0% |
2/19/2019 |
|
45S T/C Yarn |
2851.00 |
USD/Ton |
0% |
2/19/2019 |
|
40S Rayon Yarn |
2511.24 |
USD/Ton |
0% |
2/19/2019 |
|
T/R Yarn 65/35 32S |
2141.94 |
USD/Ton |
0% |
2/19/2019 |
|
45S Polyester Yarn |
2526.01 |
USD/Ton |
0% |
2/19/2019 |
|
T/C Yarn 65/35 32S |
3013.49 |
USD/Ton |
0% |
2/19/2019 |
|
10S Denim Fabric |
1.36 |
USD/Meter |
0% |
2/19/2019 |
|
32S Twill Fabric |
0.83 |
USD/Meter |
0% |
2/19/2019 |
|
40S Combed Poplin |
1.11 |
USD/Meter |
0% |
2/19/2019 |
|
30S Rayon Fabric |
0.65 |
USD/Meter |
0% |
2/19/2019 |
|
45S T/C Fabric |
0.70 |
USD/Meter |
0% |
2/19/2019 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.14772 USD dtd. 19/02/2019). The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
The Hong Kong-based Epic Group is interested in setting up of a textile factory in Jharkhand, a top company official said Tuesday. "The company is interested in starting manufacturing units in India. Jharkhand Textile Policy is the best. IfJharkhand government assists the company then it will start its factory in Jharkhand," Epic Groups Chairman Ranjan Mahtani told Chief Minister Raghubar Das here. The Epic Group is an apparel supplier and has manufacturing units in Bangladesh, Jordan and Ethiopia. During his meeting with the chief minister, Mahtani said that the Epic Group is a Hong Kong-based multi-national company, which works in textile, an official release said. Responding to Mahtanis request, Das said the textile policy of Jharkhand has attracted companies like Arvind Mills and Orient Craft, which have started manufacturing units in the state, and many more are in the pipe-line, the release quoted Das as saying. The chief minister said Jharkhand would be developed into a textile hub as it has immense potential in generating employment. He said that the government is imparting skill training to the youth in different trades. The chief ministers Principal Secretary, Sunil Kumar Barnwal, and Epic Groups Executive Director K P Pradeep were present during the meeting, the release added.
Source: Business Standard
A quarterly leading indicator of world merchandise trade slumped to its lowest reading in nine years on Tuesday, which should put policymakers on guard for a sharper slowdown if trade tensions continue, the World Trade Organisation said on Tuesday. The WTO's quarterly outlook indicator, a composite of seven drivers of trade, showed a reading of 96.3, the weakest since March 2010 and down from 98.6 in November. A reading below 100 signals below-trend growth in trade. "This sustained loss of momentum highlights the urgency of reducing trade tensions, which together with continued political risks and financial volatility could foreshadow a broader economic downturn," the WTO said in a statement. The WTO forecast last September that global trade growth would slow to 3.7 per cent in 2019 from an estimated 3.9 per cent in 2018, but there could be a steeper slowdown or a rebound depending on policy steps, it said. The quarterly indicator is based on merchandise trade volume in the previous quarter, export orders, international air freight, container port throughput, car production and sales, electronic components and agricultural raw materials. "Indices for export orders (95.3), international air freight (96.8), automobile production and sales (92.5), electronic components (88.7) and agricultural raw materials (94.3) have shown the strongest deviations from trend, approaching or surpassing previous lows since the financial crisis," the WTO said. The index for container port throughput remained relatively buoyant at 100.3, but that may have been influenced by a front-loading of shipments before an anticipated hike in US-China tariffs, the WTO said. International trade tensions could spike next month if the United States and China escalate their tariff war, a step that could have negative consequences for the world trading system, according to the United Nations trade agency UNCTAD. A new round of US-China talks will take place in Washington on Tuesday, with follow-up sessions at a higher level later in the week, the White House said on Monday, following a round in Beijing last week.
Source: Khaleej Times
U.S. President Donald Trump said on Tuesday that trade talks with China were going well and suggested he was open to pushing off the March 1 deadline to complete negotiations. Tariffs on $200 billion worth of Chinese imports are scheduled to rise to 25 percent by March 1 if the world's two largest economies do not settle their trade dispute, but Trump has suggested several times that he would be open to postponing the deadline.
Source: Development Discourse
Indonesia and South Korea agreed on Tuesday to resume talks on a bilateral trade and investment agreement and aimed to sign a deal by November. Speaking at a business conference in Jakarta, Trade Minister Enggartiasto Lukita said an agreement could boost two-way trade to $30 billion within three years from $20 billion in 2018. Indonesia had put the negotiations on hold in 2014 due to a change of government in Jakarta and various technical reasons, said Iman Pambagyo, a trade ministry official. "South Korea has so much potential for investment and trade," he said, adding it was the fifth largest foreign direct investor in the Southeast Asian nation. South Korea was seeking to collaborate in technology and heavy industries, including the chemical and construction sectors, Trade Minister Kim Hyun-chong told the conference. Indonesia aims to increase exports of agriculture and fishery products, as well as textiles and machinery to South Korea, trade officials said.
Source: Reuters
The economy of Uzbekistan is one of the largest in the Central Asian region. In recent years, the Uzbek economy has been actively developing and showing high results of stable growth. The foreign trade turnover of Uzbekistan amounted to $ 3.35 billion, according to the results of January 2019 and increased by 26.8 percent, compared with the same period in 2018. According to the State Statistics Committee of Uzbekistan, exports reached $ 1.67 billion (growth rate - 16.6 percent), import volume - $ 1.67 billion (growth rate - 38.9 percent). The foreign trade balance totalled to $ 31,000. According to the results of January 2019, the number of enterprises engaged in the export of goods, compared to the same period in 2018, increased by 81 units and their total number reached 1,037 units. Analysis of the dynamics of foreign trade turnover also showed an increase and in January 2019 it hit $ 3.35 billion, which, compared to the same period in 2018, shows an increase of $ 707.8 million. As a result of measures taken by Uzbek Government to strengthen cooperation with the CIS countries and comprehensive support for foreign trade, the share of CIS countries in foreign trade turnover was 29.2 percent in January 2019 and, compared to the same period last year, the growth rate of foreign trade turnover reached 115.3 percent. The share of other countries in foreign trade turnover in January 2019 increased by 2.9 percent and, amounted to 70.8 percent, compared to the same period in 2018. The volume of exports of Uzbekistan in January 2019 amounted to $ 1.67 billion (an increase, compared to the same period last year, reached 16.6 percent). The share of goods in the composition of exports reached 88.0 percent, of which energy resources and petroleum products - 14.8 percent, food products - 3.6 percent, ferrous and non-ferrous metals - 5.3 percent. Exports excluding gold increased by 46.1 percent, reaching $ 863.6 million. Analysis of the dynamics of exports of goods and services showed that in January 2019, compared with January 2018, the volume of exports of goods increased by $ 228.9 million and amounted to $ 1.47 billion. The export of services reached $ 201.3 million. China and Russia occupy the largest share in the export of goods and services of Uzbekistan. The share of these countries in total exports is 31.8 percent. Exports of textile products amounted to $ 107.5 million in January 2019, and increased, compared to the same period of 2018, by 4.7 percent, which is 6.4 percent of total exports. Of the export structure of textile products, the main share is cotton yarn (60.2 percent), as well as finished knitwear and garments (20.7 percent). Since the beginning of the year, more than 186 types of goods have been exported to 32 countries of the world. In January 2019, imports in Uzbekistan amounted to $ 1.67 billion (a growth rate of 38.9 percent). The main share in its structure is occupied by machinery and equipment (42.3 percent), chemical products and products from it (13.3 percent), as well as ferrous and non-ferrous metals (6.6 percent). The share of imported machinery and equipment in its total volume increased from 33.1 percent to 42.3 percent. Analysis of the dynamics of imports of goods and services also showed that in January 2019, compared with January 2018, the volume of imports of goods increased by $ 447.5 million and totalled to $ 1.5 billion. Service imports reached $ 168.1 million. Five major partner countries (China, Russia, Kazakhstan, South Korea and Turkey) have a share of 64 percent in total imports, which is $ 1.07 billion. The volume of imports of services in January 2019 amounted to $ 168.1 million, or 10.0 percent of total imports, and increased by 15.0 percent, compared to the same period in 2018. The main imports of services are tourism, transport services, as well as financial and telecommunication, information and computer services. In January 2019, the volume of imports of construction materials amounted to $ 96.0 million, and increased by 29.6 percent, compared to the same period in 2018. The share of imports of building materials in the total amount is 5.7 percent. In the structure of imports of building materials, the main share is occupied by wood and wood products (54.0 percent), cement (8.2 percent), glass and wood products (6.1 percent), and asbestos (1.9 percent).
Source: Azer News
Denying any violation of labour laws in the garment industry, the Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) recently said it is working with global bodies, including the International Labour Organisation (ILO), to protect rights of workers. Several measures have been taken by provinces and the government in this regard, it said. PRGMEA chairman Mubashar Naseer Butt said the association was a member of the International Apparel Federation based in The Netherlands, the world’s largest apparel forum, according to Pakistani media reports. The European Union’s generalised scheme of preferences plus had been extended to Pakistan after full compliance with 27 United Nations conventions, particularly related to human and labour rights, including eight core labour standards of the ILO, he pointed out. (DS)
Source: Fibre2fashion
Their demand for knitted fabrics is rising globally as several big players from the cloth and textile industries are focusing on this sector to exploit opportunities, according to a study. Quality of products to maintain trails in highly competitive markets is another reason that has been pushing the global knitted fabrics market to new heights, it says. The study by Dublin-headquartered market research firm Fact.MR, titled ‘Knitted Fabrics Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 to 2027’, highlights the market structure, recent competitive developments, key financials as well as financial share analysis of the leading stakeholders existing in the knitted fabrics market. The study projects a 5.3 per cent volume compound annual growth rate of the sector from 2018 to 2027. The key players are launching high-quality products with the help of next-generation manufacturing technologies to shift the dynamics of the knitted fabrics market. The demand for weft-knitted fabrics would continue to remain higher as a result of low cost and flexibility. Since weft-knitted fabrics require only single yarn feed, it supports the end-user from the textile industry to reduce the raw material input supplies as well as processing steps required for the manufacturing of knitwear apparels, the study finds. Weft-knitted fabrics have 64 per cent share in the global sales for knitted fabrics. The Asia Pacific region excluding Japan (APEJ) possessed close to 70 per cent volume share in the global market for knitted fabrics during 2018. The study forecasts that the knitted fabrics sales from the APEJ region would touch a mark of 35,000 tonnes by the end of 2019. China carries the mantle of managing a monstrous 61 per cent share in the global sales of knitted fabrics, the study adds. (DS)
Source: Fibre2fashion
