Import duties in India continue to be among the highest in the world, and a trade deal will need to rectify that, US President Donald Trump said on Tuesday. However, despite arguing that some progress had been made, Trump did not give a deadline for the signing of the deal, and said it was unlikely before the year-end. Addressing a large gathering of the Indian and foreign media, Trump also announced his support for Prime Minister Narendra Modi’s policies. “We talked for a long time. Prime Minister Modi is a religious and calm man. But he is also a very strong and tough person,” he said, vouching for the PM’s ability to counter the threat of terrorism. However, the personal bonhomie may not lead to a change in America’s position on economic relations. While applauding the investments pledged by Indian corporates in the US, Trump repeatedly pointed out that current bilateral business ties would need to be assessed in the light of high tariffs. He also brought up the example of Harley Davidson bikes, saying these were costly to sell in India due to tariff barriers. He also said any trade deal would need to reduce tariffs across the board. "If they want a trade deal, they'll get one. We also did one with China recently. I'll win it. It's too easy," Trump said, suggesting that the US might pursue an aggressive tact when it comes to negotiating a pact. Before leaving for India, Trump had said that a comprehensive trade agreement with India would take much longer to finalise than earlier expected. The sudden cancellation of US Trade Representative Robert Lighthizer’s visit to New Delhi as part of the vanguard negotiations team shut down the talks, diplomatic sources said. Trump also hinted that the US was not willing to back down on trade measures taken against India. "Recently tariffs were raised (by India). We also did some things in return. You can call it rent control," he said, referring to Washington DC's move to exclude India from the crucial export incentives offered under its Generalized System of Preference Trade scheme. According to the commerce department figures, India had a trade surplus worth $12.6 billion with the US in the April-December period of 2019-20.
Source: Business Standard
Commerce minister Piyush Goyal on Tuesday said India and the US will close the first end of a bilateral trade deal and get into its legal vetting soon. He said the two sides have decided to fast track talks for a larger free trade agreement (FTA), which will include market access, services, investment protocols and areas of mutual interest. “Hopefully, we will close the first set of the limited engagement, which we have already discussed and finalised... We will get into legal vetting and close that quickly,” he said at a CII-USIBC event. The minister said stakeholder talks will take place from both sides with industry groups on market access, opening up of services and investment protocols. “I can assure what will be done, will be done in the best interests of both countries. It will be an offer, at least from our side, that the US cannot refuse," Goyal said. At a separate event, he said there will be a lot more two-way trade. “Having almost closed the last contours of the limited trade package that we have finalised and with the significant announcement of a much larger trade deal in the offing, I think we have moved to a new level of engagement where we are going to see a lot more two-way trade,” Goyal said at the Ficci US-India Forum event. The minister said both PM Modi and President Trump have decided to formally engage to move towards a bilateral FTA. When asked how fast India and the US can finalise an FTA, he said at the CII event: “We can trust each other, we can talk with openness and fairness… the two nations have decided to engage on a fast track basis. So, I certainly do not see that this will be like one of those FTA negotiations going for decades and years”. Bilateral trade between India and the US in the April-December period was $68 billion. Stating that getting $100 billion foreign investment per year will not be very difficult, Goyal said at the Ficci event the government will have to work towards loosening the regulatory mechanisms and initiatives to improve the synergy between the different wings of the government are on.
E-COMMERCE, IPR
At the CII event, Michael J Walsh, Jr, chief of staff of the US Department of Commerce, said business communities can persuade the Indian government to go in a different direction as far as data localisation is concerned and that India’s intellectual property protection regime in the pharma industry “is not where it should be”. “Data localisation is not worth fighting over,” he said. To this, Department of Industrial Policy and Promotion secretary Guruprasad Mohapatra said India’s IPR regime is robust and legally sound, and India doesn’t allow ‘evergreening’ of patents, especially in pharma.
Source: Economic Times
Indian Texpreneurs’ Federation seeks to spot pain points and offer remedial measures. While industry associations by and large take up their members’ grievances with the government and seek intervention, the Indian Texpreneurs’ Federation (ITF) chooses a different line. Besides taking up such issues with the government, it looks at what went wrong and why, and sets for itself a mission for each year. “The government no doubt will remove the friction; but policy decisions take time,” said Prabhu Dhamodharan, Convenor, ITF. “Entrepreneurs need to act much sooner, especially in this highly competitive environment. So we do a comparative analysis of the issue with member mills to identify the pain point and initiate remedial measures. Technology, for instance, cannot be wished away today but without proper training it cannot be put to beneficial use. We focus on specific areas to improve the overall business performance of the industry in the State.” The ITF represents spinning mills and garment units based in Coimbatore.
Mission for 2020-21
Last year, the ITF focussed on improving the manufacturing and energy efficiency parameters of the textile sector, said Dhamodharan. “Our mission for 2020-21 is to push standalone spinning mills to move up the value chain, help create value through sustainable initiatives, appeal for support to resolve working capital issues, empower people and unleash their power,” he added. Elaborating on each of the focus areas, he said: “There is a clear trend of differentiation in margins between standalone spinning mills and semi-integrated/integrated units. The integrated units do better than the standalone ones and the difference ranged between 250 and 300 points in the bottom line (before taxes and appropriation). Within our member base of 87 lakh spindles, only 20 per cent have built integration as a business model.” To help members move up the value chain, ITF will be setting up an advisory cell with industry and external experts, Dhamodharan said.
Developing sustainability
On the sustainability and value creation aspect, he said the textile sector has developed all the major aspects of sustainability, such as zero liquid discharge, efficient water management, waste reduction, use of renewable/green energy and energy conservation practices. “We have formed a committee to study the positive aspects of the sector for branding and positioning the units here as the most sustainable cluster in India,” said Dhamodharan. On empowering people, he said: “Since the initiation of the ITF Leadership Academy last year, the Federation has imparted training to 400 managers and supervisors. The training has helped bring about a huge transformation. We have therefore decided to extend the leadership training series to 1,000 managerial and supervisory employees to create a happy workplace.”
Source: The Hindu Business Line
Minister Handlooms, Textiles and Handicrafts Smt. Padmini Dian today released book entitled ‘Divine Fabric’ by Raja Parija in the official chamber of honorable Minister at Lok Seva Bhawan today evening along with the senior officials of Handlooms, Textiles and Handicrafts Department. Odisha is traditional Tasar producing state since time immemorial. Tasar, which is grown and nurtured by the pristine tribals and weavers. Flawlessly by the traditional weavers of the state has created a brand image worldwide ‘Odisha Tasar’. Today Odisha Tasar is the happening destination of fashion. The most interesting fact about Tasar, traditionally called as ‘Mathaa’ in Odia culture it is also called ‘Amlan Vastra’ signifying that it never fades. Tasar Culture, a branch of sericulture is an agrobased activity. It provides livelihood support to thousands of Tasar farmers of the State out of which also 95% are tribals. Tasar Culture in Odisha has been contributing significantly towards the promotion of handloom sector. Sri Raja Parija, Director (S.C) ST & SC Development Department, author of the book had the privilege to deal with the sericulture sector of the State. After seeing the entire life cycle of Tasar Cocoon produced at the process of weaving Tasar fabrics out of raw Cocoons by the traditional weavers. It encouraged him to document the glorious Tasar tradition of Odisha. This is perhaps the first comprehensive book on Odisha Tasar which gives an insight into its historical background. Tasar tradition from soil to fabric and its foray into contemporary fashion world. It will benefit the textile scholars, fashion designers, students, craftsmen, tourists and general readers.
Source: Orissa Dairy
With almost Rs 60,000 crore monthly turnover, Gujarat is having lion’s share of over 75% in India’s chemical and dyestuff industry. Gujarat’s chemical and dyestuff intermediate industry is feeling the heat of Coronavirus outbreak in China as nearly 800 odd units in the state have been facing shortage of raw material. If the supply is not restored soon, most of these units will not be able to function. “Most of the units are already functioning at less than 50% capacity in Gujarat. These units are depending upon more than 50 Chinese dye intermediates including that of vinyl sulphone, h-acid, cyanuric chloride, j-acid etc. Majority of the units are on the verge of exhausting the stock of these important dye-intermediates. Since the outbreak of Coronavirus, supply has been stopped,” said Yogesh Parikh, president of Gujarat Dyestuff Manufacturers Association (GDMA). Few dye intermediates are being manufactured by Indian companies, Parikh said, adding that in the absence of cheaper Chinese competition, the local manufacturers have increased the prices by two to three folds, which is unaffordable. Situation would go from bad to worse from March even as Chinese suppliers would start sending shipments of dye intermediates from today itself as it took at least 45 days to reach cargo from China to India, he lamented. With almost Rs 60,000 crore monthly turnover, Gujarat is having lion’s share of over 75% in India’s chemical and dyestuff industry. Mostly these units are spread across Ahmedabad, Vadodara, Ankleshwar and Vapi. Annual exports of chemical and dyestuff is exceeding Rs 50,000 crore. “If this embargo would remain for longer period, gradually most of the units would close down in Gujarat. Although our Chinese suppliers have assured to restore supply of raw materials as early as possible, we are currently in complete state of uncertainty. The situation may lead to job cuts in the segment in coming days,” says Parikh. Prices of vinyl sulphone has shot up from Rs 170 per kg to as high as Rs 470. In the case of h-acid prices have gone up from Rs 360 to almost Rs 480 per kg. Shailesh Patwari, former president of Gujarat Chamber of Commerce and Industry (GCCI) and chairman of Naroda Envrio Projects, said that there is no availability of cyanuric chloride, a basic dye-intermediates, as Indian industry is solely dependent on Chinese import. According to Patwari, in order to prevent such critical situation in future, the government of India and domestic chemical and dyestuff industries should try to manufacture basic raw material in the country itself. “This is the right time to convert adversity into opportunity. Nearly a year ago, Chinese suppliers had increased the prices of raw material. Despite the fact, Indian units continued buying raw material as there was no alternate. Again similar situation arise in form of natural calamity,” he opined.
Source: Financial Express`
Novel coronavirus (n-CoV or COVID-19) epidemic has taken more than 2,500 lives till now, and if the severity continues further the damage will be beyond repair as China is a major trading partner of several countries including India. China is a major importer of cotton yarn and exporter of purified terephthalic acid (PTA) and polyester staple fibre (PSF). Trade between the India and China (including Hong Kong) was $115 billion in calendar year 2019, as per the latest Crisil report 'The n-CoV fallout'. China is the 4th largest trading partner with India for PTA and the largest trading partner for PSF. India imports close to 72,000 tons of PTA and 43,000 tons of PSF from China (data as of 2018 from TexPro). Central China, the hub of feedstock manufacturing, is locked down at a time when the Indian government has abolished 2.5 per cent anti-dumping duty on PTA. The virtual closure due to n-CoV has put break on PTA import from China. Another sector that will feel the impact is textile cotton yarn. India exports 27 per cent of total cotton yarn to China and the decrease in exports will put a pressure on the domestic cotton yarn prices, in turn creating lower margins for the producers. The readymade garments sector, however, would not be affected much as China accounts for only 1 per cent of India's overall exports. Due to rising operating costs, the sourcing of apparel by the US and EU had already shifted from China to other low-cost economies. "N-CoV will further impact China’s exports, thereby giving more opportunities to low-cost economies like India, Vietnam, and Bangladesh. There is an improvement in apparel orders from US and EU to India, and is likely to get incremental $2-3 billion of orders for fiscal 2021. Although, the operating rates of many Indian RMG players are high at ~90 per cent, the labour-intensive sector should be able to add temporary manpower to take up these additional orders," the Crisil report said.
Source: Fibre2Fashion
The Monetary Policy Committee (MPC) of the Reserve Bank of India is likely to consider the developments around COVID-19, which has resulted in supply chain disruptions from China, Singapore's DBS Bank said in a report on Tuesday. The report titled "India: Growth and inflation targeting review", Radhika Rao, Economist at DBS Bank noted that the impact on India is felt through supply chain disruptions from China as well as regional players, who in turn are net importers from China. "Temporary price increases are likely to be accompanied by production delays if the pain spills over into 2Q20 (April-June)," the report said adding that "the MPC is also likely to consider developments around COVID-19".The coronavirus outbreak has brought a large part of the world's second-largest economy China to a standstill and its impact has been felt across industries. On January 30, the World Health Organization (WHO) declared the coronavirus (COVID19) outbreak a global health emergency. On economic growth, the report said, the Indian economy is in the midst of "bottoming out" -- to reach a lowest or worst point before beginning to rise or improve. For 4Q19, lead data has been mixed, with our momentum indicator signalling a modest slowdown from quarter before. We expect growth to stand at 4.4 per cent y-o-y followed by stabilisation in 1Q20 and a gradual pick-up, thereafter, helped also by base effects," the report said. Headline GDP growth has slowed from 8 per cent y-o-y in June 2018 to 5 per cent in June 2019 to 4.5 per cent in September 2019. "Sub-par growth numbers are likely to raise pressure on policymakers to act," the report said. On the Reserve Bank of India reviewing the retail inflation targeting framework, the report said "no sweeping changes are likely". "With the inflation-targeting framework being still relatively new, authorities are likely to keep the broad contours unchanged to allow the framework to stabilise, age and gain credibility," the report noted. RBI Governor Shaktikanta Das has said that the Reserve Bank of India is reviewing the retail inflation targeting framework behind monetary policy decision as well as its effectiveness and also plans to hold stakeholders consultations including with the government in June.
Source: Economic Times
The government has rolled out a new simple application to make it further easier for incorporating a business in India. The new web form, Simplified Proforma for Incorporating Company Electronically Plus (SPICe+), which integrates 10 services from various ministries and departments went online on Sunday. The simplified application provides for Employees' Provident Fund Organisation (EPFO) and Employees' State Insurance Corporation (ESIC) registration among other things. The ministry of corporate affairs and labour, department of revenue and the Maharashtra government have collaborated for the new offering. India had improved its ranking to the 63rd spot on the World Bank’s Ease of Doing Business (EODB) survey, out of 190 countries. However, the report had cited India was lagging behind in certain parameters such as starting a business. This is seen as an effort towards achieving the government’s target of reaching the 50th spot. The new form is split into two parts, one for reserving a company name, and one for a host of services such as PAN and TAN issue, DIN allotment, professional tax registration in Maharashtra, etc. The reserve unique name (RUN) web service will now only be applicable for a change of name with SPICe+ coming in. In the 2019 EODB rankings, the World Bank had placed India at the 136th spot for ease of starting business. The country was ranked 154th and 115th for paying taxes and enforcing contracts in the survey.
Source: Economic Times
Technology for MSMEs: SPICe+ form may increase the compliance burden for startups and micro-enterprises instead of reducing it. Technology for MSMEs: Simplified Proforma for Incorporating a Company Electronically Plus (SPICe+) web form inaugurated by the Ministry of External Affairs on Monday may increase the compliance burden for startups and micro-enterprises instead of reducing it, according to experts. While the new form offering 10 different services (in its Part B) is likely to help business save time and cost in incorporating a business but the mandatory registration for Employees’ Provident Fund Organisation (EPFO) and Employees’ State Insurance Corporation (ESIC) may be a roadblock for businesses with less than 20 or 10 employees. Currently, the EPF scheme is applicable for businesses with 20 or more employees while ESI scheme is for businesses with 10 or more headcount. “This is a problem because lots of startups and micro-enterprises work with less than 10 people during the early years of their journey. This will add to their compliance work. Once they are registered with EPFO and ESIC, the two organisations will start sending businesses notices that their returns are not coming. This will lead to unnecessary disputes and harassment. Social security should be kept away from this,” Animesh Saxena, President, FISME told Financial Express Online. According to the MSME Ministry’s FY19 annual report, out of 6,33,88,000 crore MSMEs in India, 99.46 per cent — 6,30,52,000 crore are micro-businesses while out of 11.09 crore employment in the sector, 10.76 crore belonged to micro-enterprises. “These businesses may not require ESIC and EPFO having less than 10 employees. This (mandatory registration with EPFO and ESIC) is not done and will increase the compliance burden. Everything that the government does, it ends up doing for the large businesses,” Rajiv Chawla, Chairman of MSME association — IamSMEofIndia told Financial Express Online. Instead of making it mandatory, the government could have kept the registration for EPF and ESI schemes optional for businesses which run with less than 10 employees. Categories such as textiles where a small unit operates with a limited number of looms, or a micro business manufacturing components on CNC machines for large businesses in sectors such as auto etc. or a startup offering online consultancy or design services with less than 10 team members will have to now register for the two schemes. “The business should have been given the option to register now or later. The inspection of these organisations takes place in a two-three years gap. Non-compliance will lead to penalty and interest on startups and micro-businesses,” said Saxena. Apart from the two mandatory registrations, the new SPICe+ form, which replaced the existing electronic SPICe form, will provide for incorporation, DIN allotment, issue of PAN, TAN, Profession Tax registration (for Maharashtra based new registrations), mandatory opening of company’s bank account, and allotment of GSTIN.
Source: Financial Express
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
923.78 |
USD/Ton |
0% |
2/26/2020 |
|
VSF |
1364.35 |
USD/Ton |
0% |
2/26/2020 |
|
ASF |
1996.79 |
USD/Ton |
0% |
2/26/2020 |
|
Polyester POY |
994.84 |
USD/Ton |
-0.36% |
2/26/2020 |
|
Nylon FDY |
2174.44 |
USD/Ton |
-0.33% |
2/26/2020 |
|
40D Spandex |
4078.84 |
USD/Ton |
0% |
2/26/2020 |
|
Nylon POY |
5329.50 |
USD/Ton |
0% |
2/26/2020 |
|
Acrylic Top 3D |
1236.44 |
USD/Ton |
0% |
2/26/2020 |
|
Polyester FDY |
2018.10 |
USD/Ton |
0% |
2/26/2020 |
|
Nylon DTY |
2089.16 |
USD/Ton |
0% |
2/26/2020 |
|
Viscose Long Filament |
1136.96 |
USD/Ton |
0% |
2/26/2020 |
|
Polyester DTY |
2416.04 |
USD/Ton |
0% |
2/26/2020 |
|
30S Spun Rayon Yarn |
2011.00 |
USD/Ton |
0% |
2/26/2020 |
|
32S Polyester Yarn |
1605.96 |
USD/Ton |
0% |
2/26/2020 |
|
45S T/C Yarn |
2394.72 |
USD/Ton |
0% |
2/26/2020 |
|
40S Rayon Yarn |
2160.22 |
USD/Ton |
0.66% |
2/26/2020 |
|
T/R Yarn 65/35 32S |
1939.94 |
USD/Ton |
0% |
2/26/2020 |
|
45S Polyester Yarn |
1762.29 |
USD/Ton |
0% |
2/26/2020 |
|
T/C Yarn 65/35 32S |
2259.71 |
USD/Ton |
0% |
2/26/2020 |
|
10S Denim Fabric |
1.26 |
USD/Meter |
0% |
2/26/2020 |
|
32S Twill Fabric |
0.68 |
USD/Meter |
0% |
2/26/2020 |
|
40S Combed Poplin |
0.96 |
USD/Meter |
0% |
2/26/2020 |
|
30S Rayon Fabric |
0.53 |
USD/Meter |
0% |
2/26/2020 |
|
45S T/C Fabric |
0.67 |
USD/Meter |
0% |
2/26/2020 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.14212 USD dtd. 26/02/2020). The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Nigeria has conceived an integrated textile and garment park to end the annual loss worth $6 billion due to import of garment and textile goods, the government announced recently. It had already partnered with the Kaduna state to establish the park in the Funtua local government area in Katsina state. The project is expected to be executed within 24 months. Minister of state for industry, trade and investment Mariam Katagum announced the plan during a recent meeting with deputy governor of Katsina state Alhaji Mannir Yakubu. The project aims to revitalise the textile industry and boost production of cotton in Nigeria. The project will be a public-private partnership. The Funtua Integrated Textile and Garment Park is one of the six priority projects under the Nigeria Industrial Revolution Plan of the federal government, she said. The park would aggregate cotton from over 800,000 farmers from northern Nigeria.
Source: Fibre2 Fashion
Cost of imported textile inputs have escalated up to 100 percent amid shortage driven by slowdown in clearance of consignments at the ports, raising concerns for the industry that mainly relies on Chinese imports to contribute 60 percent to the country’s exports, businessmen said on Tuesday. The businessmen said textile sector is facing shortage of raw materials as import consignments are stuck at Chinese ports and prices of locally available goods have shot up. “Everyone is talking about increasing exports from the country, but the fact is that production cannot be undertaken in the absence of raw materials,” Zubair Motiwala, patron of Sindh Industrial Trading Estate (SITE) Association of Industry said. Pakistan’s textile sector relies on imports to meet around 70 percent of its input needs. The country imported around $11 billion from China in the last fiscal year and the imports mostly comprise dyes and chemicals, which are basic raw materials for textile sector. Industrialists appealed to the government to allow early clearance of imports consignments containing dyes and chemicals from China. Motiwala said consignments are stuck at Chinese ports. Alternative suppliers, such as Korea, Taiwan and India, either stopped supplying or quoting 30 to 35 percent higher prices. “It is becoming difficult to continue production activities due to shortage of raw materials, while prices in the local market have gone up by 50-100 percent,” he said. “Value-added textile sector requires ample quantity of dyes and chemicals. It is obvious that no one keeps the inventory for more than 1 or 2 months due to cash flow constraints as large amounts of exporters are stuck in sales tax refunds.” Motiwala feared that exports, instead of increasing with the kind of advantage, might be the other way round. "It is in common knowledge that orders are based on season to season at least for six months in advance and if this price hike continues and consignments are not timely cleared, production would suffer and industries would not be able to complete their orders on time and as per commitment," he said. Ikhtiyar Baig, former senior vice president of Federation of Pakistan Chambers of Commerce and Industry said production halts and export delays from China provided an opportunity for Pakistani exporters to capture a fair share of U.S. and EU markets. “However, this would only be possible if local manufacturers meet timelines and match rates offered by China,” Baig said. Baig said the international buyers are not actually switching to Pakistan and other countries. “In fact, these are spillover orders due to production constraints in China,” he said. “These spillover orders can be turned into long-term trade relationship if the government facilitates the local exporters through reducing cost of doing business.” Baig said gas and electricity tariffs should not be increased to support the industry and increase exports. Energy cost has been a perennial concern of businessmen in Pakistan over years as they said tariffs in the country are highest compared with the competing economies. Javed Bilwan, chairman of Pakistan Apparel Forum is not as much concerned about the input scarcity as energy prices and refund constraints. “Additional orders are coming from US and other countries, as China is battling with the deadly corona virus,” Bilwani said. “But, there are many other issues which need to be addressed immediately.” Bilwani said textile exports could double over the next five years if the government contains high energy pricing, increases gas connection and resolves tax refund issues. Industrialists are concerned over price hike and delay in clearance of consignments. “Production would suffer and industries would not be able to complete their orders on time and as per commitment,” SITE Association said in a statement. Motiwala urged the authorities to take urgent measures, as import consignments are anchored on Chinese ports. “If the situation prevails, other countries would increase raw material prices further,” he said. “The government should immediately withdraw all the levies with immediate effect so that there should be minimum burden of cost escalation.”
Source: The News
Demand for cellulose fibers is driven by demand for natural fibers, microplastics issue. More than 200 participants representing 26 countries took part in the 1st International Conference on Cellulose Fibers here, celebrating continued growth within the textiles market. Cellulose fibers, which are the fastest-growing group within the textile industry, now account for 6% of the world market. The conference covered the entire value chain, from feedstocks through finished products, including cellulose fibers such as rayon, viscose, modal and lyocell and its woven and non-woven applications. nova-institute, a private and independent research institute that organized the conference, said high growth rates for cellulose fibers are driven by the demand for natural fibers, the microplastics problem and the possible bans of plastic fibers. The focus of the conference was on markets, technologies and sustainability, along with alternative cellulose feedstocks. “There are many exciting developments going on, like textile recycling and new technologies and applications,” said Josef Innerlohinger, head of global R&D at Lenzing, “and there is a growing demand for sustainable fibers made from renewable materials. So, I see a huge potential for cellulose fibers in various fields. But there are also some potential obstacles, which may hinder developments, where a strong cooperation is needed to overcome these topics.” Sustainability was a major topic, with cellulose fibers’ lower environmental impact vs. petrochemical fibers or cotton highlighted. But Nicole Rycroft of Canopy pointed out the importance of wood for cellulose fibers coming from certified sustainable forestry, as well as alternative feedstock sources. Presentations noted that high-quality cellulose fibers are coming from recycled materials, cotton waste, agricultural by-products and even used toilet paper. Innerlohinger called this first edition of the conference “really successful…and I hope that many more will follow. The talks and accompanying discussions covered a wide area of topics related to cellulose fibers at a very high level.” The conference was sponsored by Bozzetto, Lenzing and Sateri as gold sponsors, with additional sponsorship from LEVACO Chemicals, NC Partnering and Stora Enso.
Source: Home Textiles Today
Vietnamese garment makers will face a severe shortage of materials starting in the second quarter because the new coronavirus has disrupted their supply chains, the chairman of the Vietnam Textile and Apparel Association said on Tuesday. Garments and textiles are Vietnam’s third-largest export earner, after smartphones and electronics. Garment makers in the Southeast Asian country rely heavily on materials from China, where the virus has killed more than 2,600 people. “Domestic firms have sufficient materials for production until the end of the first quarter, but many of them will face severe shortage of materials from the second quarter because they have trouble importing materials from key suppliers in China, Japan and South Korea,” Vu Duc Giang told Reuters.
Source: Reuters
