The Synthetic & Rayon Textiles Export Promotion Council

MARKET WATCH 26 FEB, 2019

NATIONAL

INTERNATIONAL

CBIC constitutes 3 Working Groups to recommend measures to facilitate trade and improve compliance

The Central Board of Indirect Taxes and Customs (CBIC) has constituted three Working Groups to study and recommend measures to facilitate trade, promote exports and improve compliance. The Working Groups will focus on

* improving the legislative structure of customs tariff and update it to suit the emerging and future needs of the economy and industry. Special focus would be given to create a comprehensive export tariff structure to enhance India's export competitiveness

* export promotion and facilitation with emphasis on boosting exports through e-commerce, addressing the trade facilitation barriers faced in India's export markets and improving the quality of logistics services for exporters

* enhancing compliance, plugging loopholes to improve revenue collection on customs and curb IGST refund frauds

The groups will consult the stakeholders extensively, including the Export Promotion Councils and relevant wings of the Ministry of Commerce and industry. The Groups will submit their report within a period of two months. The recommendations of the Groups, which will be taken-up for the implementation on priority, would further enhance the ease of doing business and export competitiveness. CBIC will be using advanced data analytics tools for augmenting revenue and curbing frauds, said Pranab Kumar Das, Chairman, Central Board of Indirect Taxes and Customs.

Source: Business Standard

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Goods and services exports to cross USD 500 bn this fiscal: Prabhu

The country's goods and services exports during the current financial year would cross USD 500 billion despite challenges being faced on the global trade front, Commerce and Industry Minister Suresh Prabhu said Monday. Prabhu said that exports are recording healthy growth so far and this financial year, "we will record the highest-ever growth rate".The country's exports for goods and services will "cross USD 500 billion" this fiscal, he said here at Rising India Summit 2019. He said the ministry is working on identifying new products and new markets to further push the shipments. During the April-January period of the current financial year, exports grew 9.52 per cent to USD 271.8 billion. India export services worth about USD 130-150 billion per year. Talking about proposed new industrial policy, Prabhu said everything is ready including the implementation part of the policy and "only Cabinet's approval is required".

Source: Business Standard

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Gujarat: Textile units using 'good bacteria' to battle pollution

Even as industries in Vadodara GIDC face closure due to poor effluent treatments, they can perhaps look at the good bacteria to come to their rescue. A Chennai-based company's products is being used by several textile units in Ahmedabad and Gujarat to help them battle pollution and reduce the level of chemicals in their effluent. Proklean Technologies Pvt Ltd makes eco-friendly products for industries like textile, leather and paper that otherwise depend on heavy chemicals for a substantial portion of their production process. The products developed by the startup replaces chemical products with those that are biodegradable and non-toxic. The company has developed a proprietary technology platform to achieve this. The technology makes use of probiotic microorganisms (beneficial bacteria) to make its products. Dr Sivaram Pillai, CEO, Proklean said that in many industries Proklean's products have helped replace at least 10% to 15% of the chemical products used earlier. It is developing more products and aims to cover as high as 50% of the chemicals used in some industries. "With this, the overall input of chemical in an industry has come down and this has an automatic impact on the effluent being generated," said Dr Pillai. Giving an example, he said the first process in any textile industry is washing and cleaning the raw material. "Earlier only chemical products were used to clean this but we have developed cleaning products that are non-toxic and biodegradable and environmentally friendly. This considerably reduces the pollutants being generated from stage one of the production process," said Dr. Pillai. He said another advantage of the products was that it resulted in saving water up to 20% compared to chemical products and this alone was a substantial saving. Vishal Karia, director Pradeep Overseas that is into the textile business and is one of the units that have made use of the company's new products in their production process said that it has definitely shown results. "Overall the level of BOD and COD in the effluent has reduced. The pollution is 20% to 30% less than what it is when compared to chemical products," said Karia. He added that since their unit has a zero discharge process, the use of biodegradable products helps decrease the overall expenditure in recycling the effluent water. It should be noted that Infuse Ventures, the Cleantech fund of IIMA's Centre for Innovation Incubation and Entrepreneurship (CIIE) sustainability had also in 2015 invested Rs3.5 crore in Proklean Technologies Private Limited.

Source: Daily News Analysis

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Incentive fails to rev up export revenues from listed products

Revenues from the export of products listed in the Nepal Trade Integration Strategy inched up 2.9 percent year-on-year in the first half of the fiscal year despite a cash incentive scheme for exporters. According to the Trade and Export Promotion Centre, export earnings from these products rose to Rs18.87 billion from Rs18.34 billion during the period mid-July to mid-January. Raw leather exports suffered the biggest fall and dragged down total revenues. Shipments of raw leather were down by almost half, and were valued at Rs247.96 million during the period. This product was added to the hallowed list two years ago. Medicinal herbs, yarn and textile products accounted for the largest share of the increase in exports. During the review period, shipments of medicinal herbs jumped more than twofold to Rs823.21 million. Govinda Ghimire, president of the Nepal Herbs and Herbal Products Association, said new products such as swertia (chiraito), soap nut (rittha), love apple (satuwa) and Sichuan pepper (timur) were finding a good market in third countries like Germany and France. “These countries import the processed oil prepared from these medicinal products which is used as raw material,” Ghimire said. He added that exports of Nepali herbs to India were not encouraging these days as the Indian government had imposed strict barriers against herbs not included in the quarantine list. According to him, the southern neighbour has placed 18 herbs produced in Nepal in its quarantine list. Yarn and textiles accounted for around Rs1 billion of export revenues. Nepal shipped Rs7.86 billion worth of these products during the review period, up 13.6 percent year-on-year. According to the Trade and Export Promotion Centre, Nepali yarn is selling well in Turkey. “After the anti-dumping duty issue was settled a few months ago, exporters are eager to ship their products to Turkey as they fetch good prices there,” said Suyash Khanal, deputy executive director of the Centre. Bangladesh is the second largest market for Nepali yarn. “But this member country of the South Asian Association for Regional Cooperation has imposed non-tariff barriers,” Khanal said. Exports of woollen carpets grew 13.5 percent to Rs3.78 billion and exports of pashmina products rose 4.1 percent to Rs1.43 billion. Export revenues from Nepal Trade Integration Strategy products were hit hard by a sharp drop in cardamom, footwear and ginger exports too. Cardamom shipments plunged 43 percent to Rs1.53 billion while footwear and ginger shipments were down 13.2 percent and 9.9 percent respectively. The government gives a cash incentive of 3-5 percent for the export of products listed in the Nepal Trade Integration Strategy. Traders get a 5 percent cash incentive for exporting processed tea, large cardamom, ginger, leather goods and processed herbs and oil products with a value addition of at least 50 percent. Traders get a 3 percent cash incentive for exporting pashmina products under the Chyangra Pashmina brand, textiles, woollen carpets, and yarn made of polyester, viscose, acrylic and cotton. Officials of the Ministry of Industry, Commerce and Supplies said the government could delist these products if they consistently show poor export performance, which means exporters will no longer receive a cash incentive. A ministry source said the government had removed honey, silver jewellery and handmade paper products from the list for the same reason.

Source: Kathmandu Post

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CM projects govt's pro-business approach as ASEAN industry

The first edition of the three-day ASEAN Chambers of Commerce and Industry Business Meet began here Monday with Chief Minister H D Kumaraswamy laying emphasis on his government's pro-business approach and its stability. "In the eight months since our coalition government came into existence, I can assure you all, our government is stable andstrong," he said during the event at the Banquet Hall of the Vidhana Soudha (state secretariat). In an attempt to woo global investors, Kumarawamy said his government has focused on a pro-business approach besides ensuring its benefits percolate down to the poor to provide employment opportunities. The chief minister said several corrective steps have been taken in last few months to bring in economicreforms in the state. "Karnataka is now ready for business as never before. We have made doing business easier and smarter by ensuring 98 per cent compliance to provisions of business reforms action plan," Kumaraswamy said. He said the state has a powerful combination of thriving ecosystem, skilled and talented workforce, technical expertise, innovation and business friendly policies. Speaking on the occasion, Governor Vajubhai Vala emphasised that Karnataka was the best destination for investment. "I am here for the past five years and I have observed that the government very well supports business and industries to thrive," he said. "I assure you that there will not be any problem for you here. If there is any shortcoming in the facilities, tell the minister and the chief minister. It is our duty to address your grievances.You are not doing business just foryourselves. You are doing it for the state and the nation. If the business thrives, the state flourishes," Vala told the gathering. The event has been organised by the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) to bring together ASEAN, ASEAN Plus countries and other invitee countries. According to the FKCCI, the summit aims to explore the scope for business opportunities in Karnataka with focus on automobileand auto components, aerospace and defence, engineering andfabrication, agriculture, food processing, health andpharmaceuticals, startups, textile and garments, fintech,logistics and information technology. The event will see the participation of UAE, Hong Kong, UK, Germany, France, USA, India, China, Republic of Korea, Japan, Russia, Australia, New Zealand,Singapore, Philippines, Thailand, Vietnam, Brunei Darussalam, Cambodia, Indonesia, Myanmar and Malaysia.

Source: Business Standard

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Giriraj Singh urges banks to extend collateral free credit to MSMEs

Union Minister for MSME Giriraj Singh on Monday urged banks to extend collateral free credit to MSMEs to create entrepreneurs who will then be able to generate greater employment opportunities. The minister said that since the government had increased the extent of collateral free credit upto Rs 2 crore to trading establishments in the country, the number of beneficiaries has crossed 18 lakh. "Banks need to ensure that they provide need-based finances to the small entrepreneurs. As government have already increased the credit limit for collateral free lending to Rs 2 crore from Rs 1 crore. But banks should now do the handholding," Singh said at 'Empowering Women Entrepreneurs 2019' event organised by National SC-ST Hub, Ministry of MSME. He further said that after increasing the limit, loans have been disbursed to 18 lakh entrepreneurs under this scheme till last month and we hope this will cross 20 lakh by March 31, this year. "There are women entrepreneurs who need collateral free loans. If banks fear lending without collaterals then let me assure you, based on my experience, that there is recovery. Participation of women in entrepreneurship is a must for leading the nation forward," the minister said. He informed the gathering that the corpus of the the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme has been raised from Rs 2,500 crore to Rs 7,500 crore. "Five crore people have been given loans under MUDRA. Many woman entrepreneurs are reaping the benefit of micro-finance schemes as well," he added. Singh also noted that the women entrepreneurs present to come under the ambit of GST, which will facilitate them in securing loans.

Source: Business Today

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Not only selling fabrics, but giving complete solutions: Sanjay Lalbhai

Arvind Ltd, the ₹10,826 crore company, has diversified from textile manufacturing to retail and branded apparel. A shift to fast fashion the world over and the popularity of athleisure has the company’s global clients, such as Levi’s, H&M, GAP (to whom it supplies fabric and garments), asking for swifter solutions. Arvind is stepping up its efforts by investing in textile parks and making garments. In an interview, Sanjay Lalbhai, the company’s chairman and managing director, talks about India’s growing appetite for branded apparel. Edited excerpts:

Arvind was among the first Indian companies to sell denim globally.Where does denim stand today for the group?

We are now changing the entire premise on denim. We will be the first company to do denim polos and round-necks. We are going into tops, like knits and denim shirts. That’s a large market and largely serviced by China. This will start in three-four months. And I’m going into technologies that are unheard of—to make jeans and the entire athleisure and sportswear in Indigo (denim). The Indian textiles export market has seen tepid growth, while other countries have held ground. China is three times more expensive, but they are only surviving because of verticalization. Then there is Bangladesh, Pakistan, Sri Lanka and Turkey. India should dominate, but we don’t because we have no scale. Where are the garment factories in India deploying 10,000 workers? There are Chinese factories at that scale. We are setting up large parks where there will be a minimum of 10,000 workers—in Jharkhand, Gujarat and Andhra Pradesh. When a buyer comes, he wants to buy large quantities from one location. When you go to China, you buy 10% of whatever GAP sells at one location. That’s the differentiation. It isn’t cost since they are more expensive. Scale is the key. Arvind has set a target of achieving ₹12,000-crore in its textile business over the next five years. How will you achieve that? We’re verticalizing, that is, we are not only selling fabrics, but we are giving complete solutions. Second is the advanced material division, which is technical textile (used in industrial application). Then there is sportswear and athleisure wear, because currently this business is with China, Korea and Taiwan. Athleisure and sportswear are becoming big in India. Because denim is going down, people are wearing more and more of their gym wear as outerwear. Some of our brands such as Flying Machine have an athleisure line. We will be servicing Adidas, Reebok and other such brands with our range. Then there is B2C business for the Arvind fabric store. We are building this whole new Arvind store, which will be just like Raymonds—where we will sell fabrics, do customized tailoring and sell ready-to-wear stuff under the Arvind brand.

What consumer trends are shaping apparel retail in India?

The unorganized market is becoming more organized because of GST and the arrival of omni-channel retail. There are specific areas of growth: we feel value retail will do very well. There is a trend of formal becoming more casual—people are dressing down. That’s a huge area and we have a strong play in that with US Polo, Flying Machine, GAP and Aeropostale. Children’s wear is also a large opportunity, as is undergarments. Arvind entered e-commerce in 2015-16 with Nnnow.com. How does it fit into your portfolio? We saw it coming. We knew the world is going to consume products very differently. We were one of the first few to embrace omni-channel and to develop a home-grown platform. Having said that, we won’t burn money. We have to become relevant to customers. Additionally, we will also continue to control our own inventory on marketplaces such as Flipkart, while Nnnow will be used to talk to our loyal shoppers.

How deeply is e-commerce affecting brick-and-mortar retailers?

I think retailers will have to reconsider the density of the number of shops as people buy more online. Brick-and-mortar stores will become more of experience centres, or for unique solutions. The rest of it will broadly be consumed online.

Source: Live Mint

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India to keep off WTO talks on global regime for e-commerce

New Delhi treads a cautious path despite surprise Beijing turnaround; indigenous e-commerce policy targets data security by localization of storage. Although blindsided by surprise Chinese support for global guidelines for e-commerce, India is holding out against World Trade Organization (WTO) discussions for an international online commerce regime set to begin next month, media reports say. New Delhi is on the throes of developing its own e-commerce policy pushing for mandatory local data storage for e-commerce platforms. It is significant that the draft policy that it recently released takes aim at Chinese e-commerce platforms for security risk, even as it is suspected that Alibaba boss Jack Ma is behind Beijing's sudden shift on global norms. "The deal has been pushed by Jack Ma-led Chinese e-commerce conglomerate Alibaba, which has partnered with the WTO and the World Economic Forum (WEF) to create the Electronic World Trade Platform (eWTP) — an e-commerce trade portal for small enterprises," a report in Business Standard said citing an unnamed commerce department official. India's recent restrictions on e-commerce platforms had rattled giants like Amazon and Walmart-owned Flipkart that are massively invested in the fast-growing Indian economy. New Delhi is worried that global guidelines might provide unfair mandatory market access to foreign companies hurting the domestic e-commerce sector. "While India should accept technology as it comes, we need to know which segments it will hurt most. A disruptive move like this will see tech-driven commerce displacing a significant number of players in the traditional market," the website quoted trade expert and Jawaharlal Nehru University professor Biswajit Dhar as saying. The official said India will keep off amid fears that the WTO effort will create guidelines that would serve as the basis of international agreements on e-commerce favouring richer nations "owing to the nature of the developed market systems and penetration by online firms in the retail space." The Indian e-commerce policy draft warns about the dangers of massive revenue and data loss from a global e-commerce regime. It also seeks mandatory localization and tech transfer that developed economies have resisted for long. Another requirement that could rankle with global e-commerce giants is the attempt to create policy space "to seek disclosure of source code for facilitating the transfer of technology and development of applications for local needs, as well as for security".New Delhi sees the WTO's departure from the consensus route in introducing a policy change without consultation among all 164 member-nations. Indian officials are trying to resist the imposing of the interests of a few nations on a multilateral platform. Ignoring protests from some major economies including India, 76 nations including most of the developed ones last month agreed to begin talks on the subject. The decision supported by the EU and the US was apparently taken on the sidelines of the WEF in Davos.

Source: International Business Times

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FDI inflow in April-Dec fall 7% to $33.5 billion

Foreign direct investment (FDI) into India in April-December 2018 declined by 7 per cent to $33.5 billion over $36 billion received during the same period of the last fiscal, according to latest official data. The Department for Promotion of Industry and Internal Trade (DPIIT) data showed that India's total FDI inflows, including reinvested earnings and other capital flows, was $46.62 billion in April-December of the current fiscal. As per the Reserve Bank of India (RBI) data, the annual growth rate of FDI inflows plunge to 1 per cent in 2017-18 from 25 per cent in 2014-15. Segment-wise, six of the 10 sectors have seen a steep decline in FDI inflows. THese sectors were computer software and hardware, telecom, construction, infrastructure, pharmaceuticals and power. The telecom sector suffered the biggest decline of $3 billion in FDI inflows during the period over the year ago months.

Source: Business Standard

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US firm starts carpet manufacturing plant in Vadodara

Perennials, a US-based firm manufacturing carpets, recently inaugurated its plant at Savli in Vadodara, Gujarat. The company came to India in 2018 and it procured a piece of land in Savli. Products manufactured at its plant here are being exported to the US and Europe. Company officials, though, said that their products may be sold in Indian in future. Company officials said that they have currently employed 50 employees, majority of whom are experts in hand woven rugs industry. “Our facility is spread on 14,000 square feet of land and the company has expansion plans of 60,000 square feet. We will also increase the number of employees to about 350 in the upcoming quarter,” said Amol Biniwale, managing director, Perennials India. The firm plans to take its employee strength to 500 over the next three years. The firm will invest anywhere between US $10 million to $12 million at this plant for the first three years. Company officials said that they chose Vadodara to start the facility as it is strategically located and has good rail as well as air connectivity. “Also, its proximity to Surat, the textile hub and placement on the Delhi-Mumbai Industrial Corridor played a role in being preferred as an investment destination,” Biniwale said

Source: Times of India

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Rupee up 17 paise against dollar as trade war fears ease

MUMBAI: The Indian rupee on Monday firmed up by 17 paise to close at 70.97 against the dollar in line with most Asian currencies amid hopes that the US and China will soon reach an agreement to settle their trade tariff issues. Besides, the American currency's weakness against its major rivals and a rally in domestic equities supported rupee prospects. At the interbank foreign exchange market, the rupee opened on a positive note at 71 against the US dollar. The domestic unit swung intra-day between a high of 70.96 and a low of 71.09, before settling at 70.97 -- a rise of 17 paise over its previous close. On Friday, the rupee had gained 10 paise to end at 71.14. Meanwhile, the dollar index, which tracks the American unit against a basket of six major currencies, was down 0.18 per cent at 96.33. "Indian rupee rose along with the Asian currencies on ease of concerns from US China trade deal. US President Trump has extended March 1 deadline for additional imports from China to come under tariff...," V K Sharma, Head PCG and Capital Markets Strategy, HDFC Securities, said. Global equities and crude oil traded higher on higher risk appetite while safe haven dollar and yen currencies are lower, he said. Brent crude dropped 20 cents to USD 66.92 per barrel while West Texas Intermediate declined 14 cents at USD 57.12 per barrel. The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee against the dollar at 71.0420 and against euro at 80.6028. The reference rate for the rupee against the British pound was fixed at 92.8808 and against per 100 Japanese yen at 64.22. Foreign institutional investors (FIIs) bought equities worth a net Rs Rs 2,134.35 crore Monday, while domestic institutional investors sold shares to the tune of Rs 1,746.40 crore, provisional data showed. On domestic bourses, BSE benchmark Sensex Monday ended 342 points, or 0.95 per cent, higher at 36,213 and the broader Nifty soared 88.45 points, or 0.82 per cent, at 10,880. Forex traders will be closely watching speeches this week from top Federal Reserve officials -- including Chairman Jerome Powell's appearance in front of lawmakers -- hoping for clues about the bank's monetary policy plans. Wall Street "will be looking for soothing comments about the future size of the balance sheet -- the bigger the better -- and insights into future rate hikes", said Jeffrey Halley, senior market analyst at OANDA. Market participants will also watch for December quarter GDP, due this week, which could have an impact on RBI's monetary policy panel interest rate decision.

 Source : Economic Times

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Vastra '19 gives platform to budding textile technologists

The annual technical summit Vastra 2019 provided platform to the budding textile technologists showcasing their innovations. The two-day programme witnessed the presence of several hundreds of dignitaries from all over India, including the notable alumni of the textile manufactures department of VJTI Mumbai and guests from the textile industry. The trade programme organised by hosted events like technical paper presentation, technical poster presentation, product marketing, technical quiz, Xpression, spontaneous sketching, garment display and fashion philiaUnder the banner of Vastra’19, the Textile Alumni Meet (TAM) was also organised. The event witnessed the presence of prominent alumni of the department, Gurudas Aras (director- ATE Enterprises) and Vikas Sharan (director- Saurer Textile Solutions) as guests of honor along with Umesh Gupta (chairman- VJTI Alumni Association) who graced the inaugural session. Highlight of the evening was the felicitation of the golden jubilee batch of 1969 and silver jubilee batch of 1994. Final year B.Tech and DTM batches are also felicitated. The textile department received funding under the CSR activity from Banswara Syntex Ltd., Oerlikon India, Rieter India Pvt. Ltd., Kusumgar Corporates and Saurer India Pvt Ltd . A.T.E. Enterprises has sponsored fellowships to three indigent and deserving students. Suvin Advisors has supported the department with the tender preparation, architectural and electrical designing expertise. Funds have also been received from the generous alumni for the development of the departmental infrastructure. TAM provided a platform for interaction and networking amongst the prominent industry personnel and the students of the department. INDIA ITME Society was the title sponsor of Vastra’19 in association with Liva fluid fashion, ATE Enterprises, Garware Technical Fibres and Suvin Advisors Pvt. Ltd. (RR)

Source: Fibre2fashion

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A textile exhibition to display works of a master weaver

A range of ajrakh saris printed in cotton and silk in natural dyes and other fabric is on display at the ongoing textile exhibition at Dastkari Haat Studio at Lodhi Road. These fabrics and saris have been handcrafted by Abdul Jabbar Khatri, the craftsman from Kutch, Gujarat. From rich floral patterns to complex geometric combinations, ajrakh has been at the forefront of Indian textiles and has been a part of the cultural heritage of Kutch, Gujarat, Thar in Rajasthan. A member of the ninth generation of his family to live and work in the village, Abdul Jabbar has taken a central role in the transformation of ajrakh as a fashion fabric popular in the urban markets of India and overseas.  “Besides running a large block printing enterprise, Abdul Jabbar is a committed guardian of India's craft heritage. It is truly a treat for craft connoisseurs in Delhi to have this opportunity to see his masterpieces”, said Jaya Jaitly, president, Dastkari Haat Samiti.

Source: Times of India

Jute workers' call for indefinite strike from March 1 stokes supply fears

The strike comes at a critical juncture when concerns are mounting on supply of B Twill jute bags used for packing food grains and sugar. The jute industry announcing an indefinite strike beginning March 1 has thrown the supply of jute bags for 2019-20 Rabi season into turmoil. Twenty trade unions from the Left parties and Congress have announced the strike over workers' unmet demands. In West Bengal alone, there are 66 operative jute mills that provide direct and indirect employment to around 4,00,000 workers. The strike comes at a critical juncture when concerns are mounting on supply of B Twill jute bags used for packing food grains and sugar. Industry observers feel the strike could have wide ramifications and deepen the existential supply crisis.  “New jute crop is due to arrive in the middle of March. The jute industry is already burdened with a shortfall of around 0.8 million (one bale is 180 kg) bales. The strike will accentuate the supply problems of jute bags”, said an industry source. Over 70 per cent of the jute bags are absorbed by government procurement agencies. Each year, the government owned agencies procure 2.4 million bales of jute bags valued at Rs 6500 crore. For the 2019-20 Rabi season, government demand is pegged at 1.8 million bales. The union food & textiles ministry fears that the situation could trigger crisis in the key jute bags procuring states of Punjab, Haryana, Chhattisgarh and Madhya Pradesh. Indian Jute Mills Association (IJMA), the apex body for the besieged industry, has already issued instructions to its constituent members to comply with the government requirement. The central textiles ministry, however, is yet to be officially apprised on the strike. This year, there is a forecast for robust jute crop. Raw jute prices are hovering around Rs 45,000 per tonne, higher than the Minimum Support Price (MSP) of Rs 37,500.

Source: Business Standard

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Global Textile Raw Material Price 25-02-2019

Item

Price

Unit

Fluctuation

Date

PSF

1318.86

USD/Ton

0%

2/25/2019

VSF

2001.75

USD/Ton

0%

2/25/2019

ASF

2399.42

USD/Ton

0%

2/25/2019

Polyester POY

1257.05

USD/Ton

-0.24%

2/25/2019

Nylon FDY

2859.65

USD/Ton

0%

2/25/2019

40D Spandex

4721.40

USD/Ton

0%

2/25/2019

Nylon POY

5629.93

USD/Ton

0%

2/25/2019

Acrylic Top 3D

1541.53

USD/Ton

-0.48%

2/25/2019

Polyester FDY

2666.03

USD/Ton

0%

2/25/2019

Nylon DTY

2546.87

USD/Ton

0%

2/25/2019

Viscose Long Filament

1474.51

USD/Ton

0%

2/25/2019

Polyester DTY

3112.85

USD/Ton

0.48%

2/25/2019

30S Spun Rayon Yarn

2740.50

USD/Ton

0%

2/25/2019

32S Polyester Yarn

2018.14

USD/Ton

0%

2/25/2019

45S T/C Yarn

2874.54

USD/Ton

0%

2/25/2019

40S Rayon Yarn

2159.63

USD/Ton

0%

2/25/2019

T/R Yarn 65/35 32S

2546.87

USD/Ton

0%

2/25/2019

45S Polyester Yarn

3038.38

USD/Ton

0%

2/25/2019

T/C Yarn 65/35 32S

2531.98

USD/Ton

0%

2/25/2019

10S Denim Fabric

1.37

USD/Meter

0%

2/25/2019

32S Twill Fabric

0.83

USD/Meter

0%

2/25/2019

40S Combed Poplin

1.12

USD/Meter

0%

2/25/2019

30S Rayon Fabric

0.66

USD/Meter

0%

2/25/2019

45S T/C Fabric

0.71

USD/Meter

0%

2/25/2019

Source: Global Textiles

Note: The above prices are Chinese Price (1 CNY = 0.14894 USD dtd. 25/02/2019). The prices given above are as quoted from Global Textiles.com.  SRTEPC is not responsible for the correctness of the same.

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US tariff hike on PRC goods delayed as talks progress

Following ‘substantial progress’ in trade talks, the United States has decided to delay a planned hike in tariffs from March 1 on more than $200 billion worth imports from China, President Donald Trump announced recently. The US President plans to hold a summit with his Chinese counterpart Xi Jinping at his Florida estate Mar-a-Lago to strike a deal. The talks, led by Xi's top trade negotiator Vice Premier Liu He and US Trade Representative Robert Lighthizer, concluded on February 24. "I am pleased to report that the U.S. has made substantial progress in our trade talks with China on important structural issues including intellectual property protection, technology transfer, agriculture, services, currency, and many other issues," Trump wrote on Twitter. The Chinese president expressed hope that the talks maintain ‘a mutually respectful, cooperative and win-win attitude’ and lead to a ‘mutually beneficial’ agreement, according to global news wires.An agreement on currency manipulation will be included in the trade pact, Trump had said earlier. Few details about that agreement have been made public. The delegations ‘came a step closer to realising the important consensus reached’ by Trump and Xi late last year, an official Chinese news agency said. Analysts say the two sides are likely to trumpet mutual agreements to resolve the easier parts of the trade dispute—increasing purchases of American goods, more open investment in China and tougher protections for intellectual property and proprietary technology. Meanwhile, the US National Retail Federation (NRF) welcomed the progress made in the talks and urged US Administration to build on this momentum and reach a resolution that will eliminate uncertainty for US businesses and consumers. According to data released by Tariffs Hurt the Heartland–a campaign backed by NRF–recent tariffs imposed by the administration cost US businesses $2.7 billion in November 2018 alone.

Source: Fibre2Fashion

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Vietnam: Domestic labour market to hit 56 million in 2019

Vietnam’s labour market is predicted to reach 56 million in 2019, the Ministry of Labour, Invalids and Social Affairs (MoLISA) has announced. According to Le Quang Trung, deputy head of MoLISA’s Employment Department, the domestic labour market is witnessing a positive movement from untrained workers to skilled ones. Among 56 million workers in 2019, unqualified workers will account for 26.5 percent of the labour market, while the percentages of personal service workers and mechanics are 31.6 percent and 12.4 percent, respectively. Trung said that foreign-invested businesses have high demand for employees in 2019. Moreover, the fourth industrial revolution is having an impact on Vietnam’s labour market, especially in the field of information technology. On the other hand, some sectors including printing, engine and machine assembly, irrigation and food processing are struggling to recruit workers. A survey by VietnamWorks shows that 74 percent of employers say their labour demands will increase. The top 10 in-demand sectors in 2019 include finance and investment, sales, administration, IT and software, marketing, customer service, internet and online media, auditing and construction. Experts predict that at the beginning of this year, some companies in home electronics, real estate and agriculture will enter Vietnam’s market, offering employment opportunities and increasing foreign development investment. According to Vietnam Works, most companies in the north are willing to expand production, especially those in electricity and electronics in Hai Phong city and and Bac Ninh province in the northern region. Additionally, several manufacturing businesses will come into operation from 2019. Vietnam’s textile industry will take advantage of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) by accelerating exports. Simultaneously, the competitive labour market will attract more FDI and create more jobs.

Source: Vietnam News Association

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Workers making clothes for Australian fashion firms can't make ends meet: study

Australian fashion companies use a “system of entrenched exploitation” that is trapping millions of garment workers in Bangladesh and Vietnam in poverty, campaigners said on Monday. Nine out of 10 garment workers in Bangladesh and over two-thirds of those in Vietnam can’t make ends meet, with wages as low as 55 Australian cents ($0.39) per hour, according to a study by charity Oxfam Australia. As a result, the workers, most of them women, often struggle to put enough food on the table and cannot pay for medical treatment when they are sick, Oxfam said. “If we don’t see changes soon, we will continue to see a fashion industry that is perpetuating and fuelling a system of poverty,” said Oxfam Australia’s advocacy manager Joy Kyriacou. “We will continue to see women who are running out of food and skipping meals every month, women who can’t live with their children because they can’t afford any childcare,” she told the Thomson Reuters Foundation by phone from Sydney. Kyriacou said although fashion labels such as Cotton On, Target and Kmart have made commitments towards paying a living wage, progress to improve conditions across the supply chain in Australia’s $23 billion fashion industry remained slow. A living wage means enough money is earned to cover basic needs such as food, housing, education and healthcare. A spokesman for Kmart and Target, both owned by conglomerate Wesfarmers, said the firms had been working with suppliers, workers and national governments to address the issue but did not give details.

Cotton On did not reply to a request for comment.

Australia last month became only the second country in the world to bring in an anti-slavery law, requiring large companies with a turnover of more than A$100 million to report on modern slavery risks in their supply chains.The study said despite Australian firms’ pledge to improve workers’ rights, they put pressure on garment owners to drive wages down by using practices such as fierce price negotiation and short-term contracts. Tania, a 21-year-old single mother in Bangladesh, told Oxfam she worked up to 12 hours a day for a $169 monthly wage, or about 55 cents an hour, and could only see her daughter, who lives with her parents in a village, twice a year. bul Akter, president of the Bangladesh Garment and Industrial Workers Federation, a main labor union, urged the government to ensure decent treatment for its workers. “Since there’s a lot of competition among Bangladeshi factories internally, Australian buyers or any other buyers use this to their advantage and as a result give owners low prices that in turn affects the workers,” he said. Clothes manufacturers in Bangladesh, the world’s second largest garment exporter, agreed to raise wages across 6 of the 7 pay grades in January after a week of violent protests, but it left the minimum wage unchanged at 8,000 taka ($95) a month.

Some 470 garment workers in Bangladesh and Vietnam were interviewed for the study between April and July 2018.

Source: Naimul Karim

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Eastman partners with CLASS to support circular economy

Eastman has partnered with Milan-based Creativity Lifestyle And Sustainable Synergy (CLASS) in the wake of Premiere Vision Paris, the international apparel textile exposition, where Naia showcased over 100 new on-trend fabrics from over 20 partner mills. With Naia, Eastman integrates sustainability and fashion in a way that supports the circular economy. Naia has joined CLASS to support the fashion industry's shift towards the 'circular economy', the economic model characterised as a collective awareness of social and environmental values throughout the fashion ecosystem. "Responsible innovation means embracing new business models and encouraging businesses to take a broader approach at all phases of fashion creation to ensure that environmental responsibility is embedded throughout fashion development and production," said CLASS founder Giusy Betoni. Made from bio-based wood pulp, Naia is a best-in-class example of responsible innovation, because it is sustainably sourced and has inherent luster and a silky hand that create comfortable, luxurious fabrics. Naia is made with wood sourced from sustainably managed pine and eucalyptus plantations and forests and has recently been certified as biodegradable in freshwater, having received the Ok biodegradable Water conformity mark from TUV Austria. In developing Naia, Eastman has taken into account the entire lifecycle, from responsible sourcing to end-of-life disposal. The yarn is produced in a closed-loop production process where safe solvents and water are recycled and reused, ensuring a low tree-to-yarn carbon and water footprint. Listed on the Higg Materials Sustainability Index, Naia has a smaller environmental impact than fibers such as generic modal, triacetate and viscose. "CLASS empowers global partners to take steps toward a circular economy," said Priya Kalsi, Eastman segment market manager of textiles. "For Eastman, that means providing access to sustainable fabrics featuring Naia for designers and fashion students to foster their creativity." Eastman demonstrated its dedication to sustainability at Première Vision by showcasing the sustainable production process of Naia – from responsibly sourced wood to end of life. Eastman used FSC certified wood in the construction of the booth and upcycled Naia fabric swatches into small bags as giveaways.

Source: Fibre2Fashion

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Doctoral student creating 'scrubber' textiles discovers neutron analysis techniques at ORNL

Yue Yuan, a second-year Ph.D. student at NC State University's Wilson College of Textiles, is working to create textiles that filter carbon dioxide (CO2) by using the latest scientific techniques in synthesis and imaging. Known as biocatalytic textiles, these materials could serve as sustainable scrubbers for CO2 capture by using enzymes trapped in bio-based polymers to catalyze the hydration of CO2. "These are new materials that combine the catalytic properties of enzymes with the flexibility of textiles," Yuan said. When she began her doctorate studies, Yuan, who has a research background in textile science, wanted to learn more about the different properties of enzymes and polymers that could be used to improve the performance of biocatalytic textiles. So she began taking biochemistry classes. That's how Yuan first heard about neutron scattering from Flora Meilleur, a joint faculty member at NC State. Meilleur is also a structural biologist at the US Department of Energy's (DOE's) Oak Ridge National Laboratory (ORNL) who specializes in protein chemistry and neutron crystallography at ORNL's two neutron sources—the Spallation Neutron Source (SNS) and the High Flux Isotope Reactor (HFIR). SNS and HFIR are DOE Office of Science User Facilities that annually attract more than 1,200 researchers to Oak Ridge to image and analyze materials and their properties using neutrons—electrically neutral particles that scatter off a material's atoms, generating structural data that often cannot be obtained with other techniques such as x-rays. The noninvasive nature of neutrons makes them an ideal tool for studying biological materials, such as the polymers Yuan is interested in for her research. At NC State, Yuan uses electron and X-ray techniques to study the structures and interactions of polymers and enzymatic proteins for her textiles, but these methods were not producing all the data she needed. "The challenge of using electrons is that the materials I'm researching are bio-based, and they don't have enough electrons to interact with the probe," Yuan said. "But neutrons can fill this hole in characterization." A member of Yuan's Ph.D. committee, Meilleur pointed out the potential of neutrons to her. Meilleur shared articles about neutron scattering, but Yuan still had questions about how the instruments worked and how she would interpret and use the data. "How do you turn neutron scattering data into the information you want?" she asked. Meilleur suggested Yuan visit ORNL's Center for Structural Molecular Biology (CSMB) and neutron user facilities to get an immersive introduction to neutron science. CSMB operates a neutron scattering instrument called Bio-SANs that is dedicated to biological samples at HFIR, and a bio-deuteration laboratory for preparing biological samples for neutron analysis. "Meeting with expert scientists and visiting facilities is the best possible way for a graduate student to learn about new techniques and find out how they can be applied in their research area," Meilleur said. "Yue's opportunity to spend a week at ORNL was an invaluable, concrete learning experience." Yuan applied for a professional development grant opportunity from Wilson College of Textiles through the Ellen Rohde Leadership Initiative, which aims to support women in the college with leadership training. Through the initiative, Yue was awarded funding for a one-week trip to Oak Ridge. "At first, I was hesitant because I had limited knowledge of neutrons, but after visiting, it's clear what is possible," Yuan said. "I've talked to experts on enzymes, biomolecules, and polymers and received positive feedback about my work." During her visit, Yuan toured both neutron user facilities and met with ORNL scientists, including Hugh O'Neill, CSMB director; Dean Myles, an instrument scientist for the IMAGINE diffractometer for biochemistry at HFIR; Urban Volker, an instrument scientist for Bio-SANS; Hassina Bilheux, an instrument scientist for the Neutron Imaging Facility at HFIR; Laura Stingaciu, an instrument scientist for the Neutron Spin Echo Spectrometer at SNS; John Ankner, an instrument scientist for the Liquids Reflectometer at SNS; Kevin Weiss, a CSMB protein chemist; Kunlun Hong, a Center for Nanomaterials Sciences material scientist; and Tomonori Saito, a synthetic polymer chemist and expert in CO2 separation. "I toured different beamlines and talked with experts on the potential of different instruments for my research. What I found in Oak Ridge were world-class instruments," Yuan said. During her meetings with ORNL neutron scientists, Yuan discussed techniques like reflectometry for studying surfaces and interfaces and spectroscopy for measuring atomic motion and magnetism. "I found scientists willing to help," she said. "I learned how to start experiments and what kind of challenges I may be met with." Yuan and Meilleur met daily to discuss what information Yuan found useful for her research on biocatalytic textiles. "I would come back to Dr. Meilleur at the end of each day with feedback, so we kept updating my schedule for the next day," Yuan said. Among Yuan's objectives for her week at ORNL, she sought advice on writing a proposal for beam time at SNS and HFIR so that she might apply her first-hand knowledge of neutrons to collecting data and advancing her research. "Now I know there are neutron instruments that can be linked to my research and that will work together with electron microscopy so I can study the polymer dynamics," Yuan said.

Source: Phy.org

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