Union Textile Secretary Ravi Capoor in an email interview with Shwweta Punj India’s textile sector is the second-largest employment generator in the country (after the agriculture sector) and India is the fifth-largest exporter of textiles and apparel in the world. The COVID-19 lockdown has severely damaged this sector, halting operations for nearly two months. Now, as thousands of textile factories across the country try to limp back to normalcy, stakeholders feel more vulnerable than ever before, with many sitting on ‘dead stock’—shipments that could not be dispatched due to the pandemic and have lost their market value (since textiles and apparels are season-dependent industries). While many in the industry still hope for a rescue package from the Government, in this e-mail interview, Union Textile Secretary Ravi Capoor tells Shwweta Punj, Deputy Editor, INDIA TODAY magazine, that the pandemic has led to a drastic shift in products being made. New items include N-95 masks, technical textiles and synthetic materials. The Government has also allowed the export of non-medical/ nonsurgical masks of cotton, silk, wool, polyester and nylon (among other materials), and is currently considering allowing the export of personal protective equipment kits (PPEs), subject to restrictions. Q. What challenges face the textile sector, and what is your assessment of the impact of COVID-19? Domestic manufacturers and exporting units are facing huge challenges. In the midst of this uncertainty, industry players and entrepreneurs are discovering new and innovative means of operation. While the fallout from the crisis is both amplifying familiar risks and creating new ones, change at this scale also creates new openings for managing systemic challenges and ways to steadily build back business with the new normal. One lesson learned is that since business is a function of capital and labour, the labour force cannot be taken for granted, as is evident from the reverse migration witnessed [during the lockdown]. Moreover, with the launch of the Garib Kalyan Rojgar Yojana, with an outlay of Rs 50,000 crore, to offer job opportunities to migrant workers in their native districts, there is a likelihood that many [workers] may not return to factories in textile clusters in the short run. As the economy opens up, we will see a steady rise in demand and production. Fuel demand has returned to 80-85 per cent [of normal levels] and is likely to reach 90 per cent by month-end or in the first half of July. This indicates that the economy is limping back to normalcy. Activities in the textile sector are also slowly returning to normal, showing around 50 per cent operations, in some cases touching 60 per cent. Due to the pandemic, businesses and supply chains are witnessing a drastic shift from traditional products to new ones such as PPEs, N-95 masks, technical textiles, synthetic material, etc. Before the outbreak of the pandemic, the PPE requirement in India was approximately 50,000 [units] per year. However, since the outbreak, India has become self-reliant in these segments with production capacity of PPE coveralls reaching 450,000 [units] per day, from zero production capacity. Q. Is the Indian textile sector ready to capitalise on the backlash against China? The textiles sector is gearing up to make the ‘atma nirbhar (self reliance)’ path a success, keeping in mind that no nation can fully isolate itself from the world economy. [Many] textile manufacturers are relocating their manufacturing bases outside China and are searching for new emerging markets. As we are competing with other destinations— like Bangladesh, Vietnam, Turkey, countries in eastern Europe, Ethiopia, Mexico and other Latin American countries—the Indian textile industry, in coordination with Central and state governments, is taking many steps to remain competitive, including labour reforms. We are [developing world class] systems and procedures to give confidence to investors. The Textile Ministry, therefore, has facilitated the [operations of] Indian exporters with global buyers/ suppliers in consultation with overseas Indian Missions. For example, a Japan quality standard desk has been set up at the Textiles Committee office in Mumbai to address issues relating to quality and compliance by exporters to the Japanese market. This desk will also provide third-party physical verification, capacity evaluation and foreign buyer inspection services to Japanese customers. The Government has also allowed the export of non-medical/non-surgical masks made of cotton, silk, wool, polyester and nylon, among other materials, and is considering allowing exports of PPEs (with quantitative restrictions). Q. What are your ministry’s most defining initiatives to increase productivity and competitiveness? As you are aware, the anti-dumping duty of PTA (purified terephthalic acid) was removed as a means to open up the MMF (man-made fibre) sector of textiles, which is still in its infancy in India. To reverse the trend of India importing significant quantities of technical textiles—worth $ 16 billion every year—and to position India as a global leader for this product category, a National Technical Textiles Mission was announced with a four-year implementation period from 2020-21 to 2023-24 at an estimated outlay of Rs 1,480 crore. These initiatives will put Indian firms on a level playing field with international players in the man-made fibre and technical textiles sectors. The manufacturing of PPE kits was a challenge on account of the very few medical textile manufacturers in the country. The apparel and garments segment was brought into the production stream for PPE coveralls. Pro-active actions, wide outreach and intensive interactions with fabric manufacturers and garment companies have now [resulted in] more than 600 PPE manufacturers in the country. Ten laboratories have also been set up for testing of PPE coveralls. Production levels have crossed more than 450,000 units per day at peak capacity. These coveralls are now available for procurement through the GeM (Government e-marketplace) portal. In addition, the level of production and number of manufacturers of N-95 masks has been enhanced. From four BIS (Bureau of Indian Standards) licensed firms there are today eight such firms manufacturing more than 300,000 N-95 masks per day. A proposal for setting up 10 mega integrated textiles region and apparel parks all over the country, on over 1,000 acres of land has also been mooted. These parks will have world class infrastructure and fibre-to-fabric-to-ICD for clearance. They will be a one-stop investment destination for FDI, and ideally, will be situated near ports with connectivity and links. Q. Indian textile players say that that they have been disadvantaged over the past few years by FTAs (free-trade agreements) signed by countries like Bangladesh and Vietnam with the European Union? Countries like Bangladesh and Vietnam have zero duty access to the EU markets, whereas Indian exporters face a duty disadvantage of 9.6 per cent in the EU market. In order to assist Indian exporters, a RoSCTL (rebate of state and central taxes and levies) scheme to assist exporters has been extended. The different schemes announced under the Rs 20 lakh crore post COVID-19 package by the Government will immensely assist exporters vis-à-vis their counterparts. To further mitigate the disadvantages faced by Indian textile firms vis a vis firms from countries that have zero-duty access to big, thriving markets, some schemes are being proposed by this Ministry such as the mega integrated textiles region and apparel parks and the focus product incentive scheme. Q. What is the future landscape for the sector? The Indian textiles sector primarily operates in the cotton segment, where low value products are manufactured. Therefore, we are focusing on new emerging sector of technical textiles and man-made fibres. The idea is to promote the manufacture of highvalue and functional fibres, such as those used in winter wear and technical textiles, which are currently imported. We are also focusing on the production of defence and medical textiles, geo textiles, agri textiles and special performance fibres, etc. Steps have also been taken to increase collaboration with the machine manufacturing and technology sectors, as most machines used in all segments of the textile value chain are imported.
Source: India Today
Railways and Commerce Minister Piyush Goyal, speaking exclusively to ET NOW, has said, "India is blessed with number of resources such as natural resources, minerals, skilled manpower, democracy, demographic dividend and market of 1.3 billion. By every estimate, we will be the third largest consumer market by 2030. A $5 trillion economy in the next five years leading to possibly a $10 trillion economy by the turn of the decade." Watch the full interview https://economictimes.indiatimes.com/news/economy/policy/will-make-india-a-10- trillion-economy-by-2030-piyush-goyal/videoshow/76852497.cms
Source: Economic Times
The DPIIT is expected to hold further meetings or send circulars to companies detailing the processes to be followed so that all the issues are addressed. The department for promotion of industry & internal trade (DPIIT) has asked ecommerce companies to start displaying country of origin for all new product listings on their platforms, possibly by August 1. Officials at the department have also directed firms to add the country of origin to old product listings by September-end or early October, a source aware of the discussions told FE. The DPIIT on Wednesday held a meeting with nearly 30 e-commerce companies including Amazon, Flipkart, Snapdeal, Jio, Lenskart, Paytm and BigBasket to discuss the matter. Shoppers Stop, Croma and Tata Cliq also attended the meeting, the source said. E-commerce companies have pointed out that their role is restricted to providing tech enablement to sellers so that they can digitally incorporate the country of origin for their products on the online marketplaces. Sellers, however, will not be able to comply unless they are conveyed about a product’s country of origin by brands and manufacturers. “E-commerce companies said that discussing the issue with them alone will not work. It includes involvement of brands, manufacturers and sellers. Accordingly, the DPIIT has agreed to take up the matter on old product listings with the consumer affairs ministry, representatives of whom were present at the meeting,” the source said. The source also said that the ambit of the legal metrology act covers only imported products. Since the government wants the country of origin to be displayed for every product including domestic, a suitable legal framework is required. “A solution is also needed for unbranded products since a seller will not have any information about the same. All these issues need to be resolved,” the source added. The DPIIT is expected to hold further meetings or send circulars to companies detailing the processes to be followed so that all the issues are addressed. The DPIIT had held a meeting late last month to discuss the subject. The discussion around the need for e-commerce players to state the country of origin for products sold on their portals has been gaining ground after a violent face-off between Indian and Chinese soldiers in Ladakh’s Galwan Valley last month left at least 20 Indian military personnel dead. The Confederation of All India Traders (CAIT) in a letter to commerce minister Piyush Goyal had said: “All e-commerce companies are selling Chinese goods in large percentages on their portals and in absence of country of origin provision; the customers are unaware about it which certainly influences the choice of the consumers”.
Source: Financial Express
Niti Aayog backed paper suggests short- and long-term indigenous production strategies, free-trade agreements In another step towards 'Aatmanirbhar India', a NITI Aayog-supported research paper by Indian Institute of Management (IIM) Indore and University of Pennsylvania, Wharton School has suggested six strategies for the Government of India to reduce dependence on Chinese imports. Among the six steps towards reduced dependence on Chinese imports include product segmentation, making use of the country's existing ecosystem, becoming member of key trade agreements and modifying the work processes and organisational design of Government of India (GoI). India was far ahead of China in technology till the 1980s, while China was economically behind India till late 1970s. However, citing the 1984 event when India refused America and Germany's proposal to produce high-tech complex capital goods, plastics and chemicals on the grounds of being a non-aligned member country, the paper co-authored by IIM Indore faculty member Prashant Salwan suggests laying of foundation of what is today seen as Chinese aggression in international trade. "America and German firms were forced to go to China, a communist government, as India had categorically refused to partner with them... China undertook the strategic planning at the country level for the first time in its history in 1984. Developed countries were forced to give the technologies to Chinese firms. It was post 1991 that Indian government realized what they had done, but it was too late," the paper states. However, now with the Chinese aggression leading to the Indian government rethinking trade strategies with China, the paper has suggested six steps including strategic planning on the lines of the neighbouring country. "To reduce the dependence of Chinese products, GoI needs to analyze imports from China, and develop the way forward. GoI needs to implement bottom up and top down a hybrid approach for strategic planning. Various government departments should do their own strategic planning using industries bodies, data mining as inputs, while NITI Aayog and PMO should take independent inputs from a country level point of view. Then both the inputs from departments and from NITI Aayog should culminate into a country level and industry level planning," the paper states. Further, based on the economic complexity model, the Indian government can formulate proper road map through compartmentalise them as per technology and innovation capabilities. For this, the research paper has divided roughly 900 products currently imported from China into four segments including high-tech products, electronics, commodity technical products and commodities. According to the paper, while the first two categories including those products which require advanced innovation capabilities like complex capital goods and technology products which require acceptable level of innovation capabilities and customization like telecom equipment, mobile and electronics products can be sourced through alternate suppliers in the short term even while long term strategies include developing indigenous competencies in next three years. On the other hand, the other two categories including commodity technical products which have basic technology and cost is the differentiator like diode and integrated circuits as well as commodities like agriculture produce, metals, can see stoppage of imports from China either immediately or within next six months with MSMEs and large firms being encouraged to start production indigenously. Among other steps suggested to reduce imports from China include playing a more proactive role in economic agreements. "It is sad but true that India marks in FDI index is lowest in economic agreements segment. Economic agreements help in making the countries products economically feasible. Agreements like ASEAN countries, EU, Latin American countries under MESACOR and NAFTA have helped the growth of members countries. India need to play more proactively in economic agreements," the paper suggests. As part of formulating strategies, the research paper calls for modification in working design of the Government of India as well as develop skill sets and entrepreneurial ecosystem in the country. "Government departments need not work in silos. Departments need to talk with each other, share data and systematically and comprehensively formulate strategies. It also needs to enhance skill development in high tech production . GoI needs to invest in to developing entrepreneurs, those who can think new value addition services and products. Banning of Chinese apps will increase startup investment in IT product development," the paper further states. The report further added that developing competitiveness should be the strategy. For instance, taking the example of Active Pharmaceutical Ingredients (APIs) where India lost competitiveness to China, the paper suggests not repeating the same. "We import 60 per cent of API from China. Indian public sector used to produce API but they could not fight the price competition from China which is 25 per cent cheaper and were closed. Indian government should think about policy changes to make India again become competitive in producing API . Roughly 58 key API should be produced in India. Government should not be worried on a long gestation period," the paper suggests given that results will be seen in 2-3 years. To top it all, NITI Aayog has already provided its inputs to the paper including recommending segmenting imports from China into capital goods (high tech), intermediate goods (tech and commodity tech products) and consumer goods (commodities). Moreover, as part of its inputs to the paper, NITI Aayog has said that 58 key APIs will be produced in India and multiple policy decisions have already being taken with regard to facilitation of APIs and other pharma products production in India.
Source: Business Standard
India may go beyond China to cut cheap shipments
India is drawing up a strategy to curb cheap imports from any source and not just China in order to achieve its self-reliance goals, a senior government official told ET. Toward this end, the government is drawing up short-term, medium-term and long-term plans, he said. In the short term, it could opt for non-tariff barriers such as nominating a specific port for a category of goods or mandating prior approval for select products, such as licensing requirements. Tariffs could also be raised where possible to impose a comprehensive deterrent on the import of cheap or non-essentials. In the medium term, free trade agreements (FTAs) will be reviewed to bring about a balance in trade and put more effective rules of origin in place. Cost Analysis of Higher Tariffs “The whole idea is to boost local production and cut reliance on imports in general... Imports from no specific country are being targeted,” said the person cited above. The government is also drawing up a comprehensive list of non-essential imports as part of the exercise. Measures such as nominating specific ports for clearance of goods that India wants to curb can lower or even erode price advantages, bringing them on par with locally made items. Although higher tariffs remain on the agenda, these have not always been found to be helpful as importers then switch to the FTA route, the official said. The government will carry out an in-depth study on the cost implications of such moves before any steps are taken to address fears that import restrictions could also be counter-productive, denying India access to crucial inputs or equipment. The government has sought feedback on measures needed to lower the reliance on imports and boost domestic production. Detailed discussions have been initiated with industry to identify those areas in which domestic industry can scale up production and the kind of support that will be needed for this to replace imports, said another official. In the long term, the government is looking at providing incentives through schemes such as the productionlinked subsidy scheme to multiple sectors to allow local industry to take root and eventually become globally competitive. Measures for sectors such as chemicals, auto components, food processing, leather are under examination, the official said. These specific steps are over and above labour reforms, easier credit availability, cheaper land and ease of doing business through singlewindow clearances included in the wider reforms programme. However, imports that are crucial to the economy will continue until the long-term plan to make India competitive kicks in as the government does not want industry to suffer any sudden supply shocks at this juncture. “It will need to be a steady process,” the second official said. The empowered group of secretaries set up by the government to facilitate investment has already held discussions on available land that can be readily offered to investors.
Source: Economic Times
By any yardstick, the trade agreement was one-sided, in favour of China. Today, any negotiator who agreed to this would be hauled over the coals. Bilateral agreements are the outcome of negotiations. To get something you want, you yield on others. There is a quid pro quo and reciprocity. Thanks to GATT, since 1948, reciprocity has been built into WTO. Gains and losses needn’t always be defined in narrow economic terms, the quid and the quo can be strategic. However, a quid without the quo doesn’t sound rational. Outside the then socialist bloc, India was the first country to establish diplomatic relations with the People’s Republic of China (PRC). This happened on January 1, 1950. Pakistan followed a few days later. India followed through, in October 1954, with a trade agreement with PRC, apparently based on “equality and mutual benefit”. At least, that is what the preamble to the agreement said. This trade agreement over-rode many historical rights India possessed (trade missions/trading posts) in Tibet. They were signed away. Therefore, for the benefit to be mutual and not unilateral, India must have gained something. This was a narrow trade agreement. Unlike contemporary times, there was no talk of cross-border labour or capital movements. The gains could have been trade, or non-trade. In any such trade agreement, while negotiating, negotiators try to identify products where their country has a comparative advantage, though comparative advantage is necessarily dynamic and changes over time. I try to get market access for items where my country is competitive and try to bargain and prevent granting market access for items where my country is relatively uncompetitive. This is the principle behind trade negotiations. As broad heads, China was allowed to export: (1) Cereals; (2) Machinery; (3) Minerals; (4) Silk and silk piece-goods; (5) Animal products; (6) Paper and stationery; (7) Chemicals; (8) Oils; and (9) Miscellaneous items. India was allowed to export: (1) Grams, rice, pulses; (2) Kyanite; (3) Unmanufactured tobacco; (4) Raw materials and unmanufactured ores; (5) Wood and timber; (6) Hides and skins; (7) Chemicals; (8) Vehicles; and (9) Miscellaneous items. At that time, both countries were planning to industrialise, China with a first five-year plan in 1953, India with a first five-year plan in 1951. That being the case, you would expect industrialisation aspirations, and moving away from agriculture, to be reflected in items either side was trying to push. If you look at those broad heads, this is not the impression you get. For example, India would export wood and timber, but China would export paper and stationery. China would export machinery, but India would export raw materials and unmanufactured ores. That is, barring chemicals and vehicles, India would remain a primary produce exporter to China, a continuing trend this trade agreement contributed to. However, China’s exports would be broad-based and have manufacturing. So far, I have stuck to broad heads and these are broad heads as mentioned in the trade agreement. Those weren’t days when trade negotiators followed harmonised customs nomenclatures, with digits pinning down items. Such physical descriptions sufficed. Let’s look at sub-heads, under those broad heads. Under paper and stationery, we find (1) Newsprint; (2) Mechanical pulp free printing paper.; (3) Packing paper; (4) Stencil paper; (5) Blotting paper; (6) Fountain pens; (7) Pencils; (8) Ink; (9) Printing ink; (10) Numbering machines. At that time, India had a strong domestic base in producing all these. Indeed, when Article XVIII of GATT was amended in 1954 to introduce Article XVIIIB, justifying quantitative restrictions (QRs) on imports on balance of payments grounds, one of the eight items India imposed QRs on was fountain pens. China’s fountain pen manufacturing base in Shanghai, other than Hero, is of later vintage. Shanghai Hero Pen Company traced its antecedents back to 1931. That is when Wolff Pen Manufacturing Company was founded, renamed Shanghai Hero Pen Company later. Companies like Jinhao didn’t exist then. Given India’s fountain pen and ink base, it was a bit strange that in 1954, it was pre-decided that China would have a comparative advantage in exporting fountain pens and ink, and India would not. To reiterate what I have said, we clamped down on imports of fountain pens from rest of the world, allowed them specifically for China and didn’t wish to export our own to China. If Hero pens became ubiquitous in later decades, that wasn’t only due to smuggling through Nepal. These were legitimate imports. This is only an example to illustrate the broader point about a biased trade agreement. Trade is not based on narrow notions of comparative advantage. A country can simultaneously export and import the same item. However, if an item figures in one country’s list and not on the other’s, that suggests an odd kind of preference. In market access schedules, items specifically mentioned are important. What is dumped into a “miscellaneous” basket is relatively insignificant. If you scrutinise the schedules, you will find non-manufacturing items in China’s miscellaneous list, but many manufactured items in India’s miscellaneous list (light engineering, plastic manufactures, cement, agricultural implements, and paper). By any yardstick, the 1954 agreement was onesided. Today, any negotiator who agreed to this would be hauled over the coals. Nor, since GATT has already been established in 1948, could one claim India lacked in relative negotiating capacity. I mentioned the quid pro quo gains, of trade or non-trade. Obviously, there were no trade gains. One gave away and received little in return. Nontrade gains are also dubious. “Equality and mutual benefit” was picked up from the trade agreement and incorporated into the Panchsheel later in the same year.
Source: Financial Express
In a major reprieve for 62 textile units from Malegaon engaged in sizing of yarn used for manufacturing of grey cloth, the Bombay high court (HC) on Tuesday stayed notices issued by the Maharashtra Pollution Control Board (MPCB) that refused to grant consent to operate the units. The bench of justice Ujjal Bhuyan and justice Riyaz Chagla also restrained the regional offices of MPCB from taking any coercive steps, such as disconnection of electricity, water and other basic amenities, against the textiles units pursuant to the notices issued on May 18, 2020. MPCB had issued the notices primarily on the grounds that the 62 units were located in non-conforming zones, and asked the owners of the units to submit adequacy reports either from NEERI or Indian Institute of Technology-Bombay. The unit owners were also asked to submit no-objection certificate issued by the city engineer of the Malegaon Municipal Corporation with recommendation to operate the industry at their present location, as a pre-condition for granting consent to operate. The unit owners have moved HC contending that the notices were illegal, arbitrary and oppressive. Their counsel, advocate Manoj Harit, claimed that they had not violated any of the conditions imposed while granting consent to operate. That apart, Harit said, the issuance of the show-cause notices with only a 15-day period to reply during Covid-19 pandemic reflected a mechanical approach. “Getting reports from NEERI or IIT within such a short span of time during this pandemic is impossible and therefore, the notices are required to be stayed,” he added. Advocate RV Govilkar, representing MPCB, opposed the prayer and submitted that the notices were issued in compliance with the principles of natural justice. He added that the petitioners must respond to the show-cause notices and satisfy the statutory authority about the fulfilment of conditions to get consent to operate. The bench found substance in the argument advanced on behalf of the petitioners. It said MPCB has the powers to direct closure or regulate operation of an industry under section 33A of the Water Act and section 31A of the Air Act, but these powers are subject to provisions of the respective Acts, and the authority will have to follow other provisions of the Acts, before invoking the powers. “It is not an unguided power to be exercised dehors the provisions of the two Acts.” Besides, the judges noted that the Malegaon Municipal Corporation had not yet submitted its reply regarding verification of the industrial units within non-conforming zone. “That being the position, a prima facie view can be taken that the impugned show-cause notices have been issued without jurisdiction, and that too hastily,” said the bench while staying the notices.
Source: Hindustan Times
The SBI research report also talks about building export capabilities to address the trade imbalance with China. A calibrated call rather than "sudden stops" is required to lower India's import dependence on China, the country's largest lender State Bank of India (SBI) has said in a research report. In terms of numbers, India's dependence on China is the heaviest in low-value imports, said the report that comes at a time when India is looking to address the trade imbalance with its biggest trading partner amid a prolonged and bloody border standoff. “Clearly, China has slowly and steadily built a solid base in both high and low-value imports into India. We thus have to clearly take a calibrated call in reducing our import dependence from China and not through sudden stops,” said the report. In the last few weeks, FDI norms for investors from China have been tightened, 59 Chinese apps banned, contracts put on hold and tenders scrapped. The ties between the two countries are in a free-fall after a clash along the Line of Actual Control in Ladakh’s Galwan Valley on June 15 killed 20 Indian and an unspecified number of Chinese soldiers. China accounts for 18 percent of India’s imports and only 9 percent exports. The bilateral trade amounted to $103.5 billion in the April 2019-February 2020 period. "At an 8-digit level, there were humongous 6,844 products imported by India from China. The good thing is that for FY20 compared to FY19, there is a drastic reduction in the value of products in which India's import dependence on China was between 50-60 percent," the report said. Over 800 products (worth $3,944 million) from China with an import value of less than $100 million each account for more than 90 percent of India's imports, the report said. Such products include organic chemicals, machinery and mechanical appliances and electrical machinery, textiles and textile articles, products made of iron and steel, toys, and furniture.
Source: Money Control
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
789.29 |
USD/Ton |
-0.27% |
09-07-2020 |
|
VSF |
1240.62 |
USD/Ton |
-0.23% |
09-07-2020 |
|
ASF |
1684.11 |
USD/Ton |
0% |
09-07-2020 |
|
Polyester POY |
705.87 |
USD/Ton |
-2.94% |
09-07-2020 |
|
Nylon FDY |
2046.31 |
USD/Ton |
0% |
09-07-2020 |
|
40D Spandex |
3992.80 |
USD/Ton |
0% |
09-07-2020 |
|
Nylon POY |
5133.60 |
USD/Ton |
0% |
09-07-2020 |
|
Acrylic Top 3D |
941.16 |
USD/Ton |
-1.49% |
09-07-2020 |
|
Polyester FDY |
1910.84 |
USD/Ton |
0% |
09-07-2020 |
|
Nylon DTY |
1853.80 |
USD/Ton |
0% |
09-07-2020 |
|
Viscose Long Filament |
884.12 |
USD/Ton |
-2.36% |
09-07-2020 |
|
Polyester DTY |
2281.60 |
USD/Ton |
-0.93% |
09-07-2020 |
|
30S Spun Rayon Yarn |
1725.46 |
USD/Ton |
0% |
09-07-2020 |
|
32S Polyester Yarn |
1397.48 |
USD/Ton |
0% |
09-07-2020 |
|
45S T/C Yarn |
2181.78 |
USD/Ton |
0% |
09-07-2020 |
|
40S Rayon Yarn |
1896.58 |
USD/Ton |
0% |
09-07-2020 |
|
T/R Yarn 65/35 32S |
1668.42 |
USD/Ton |
0% |
09-07-2020 |
|
45S Polyester Yarn |
1568.60 |
USD/Ton |
0% |
09-07-2020 |
|
T/C Yarn 65/35 32S |
2039.18 |
USD/Ton |
0% |
09-07-2020 |
|
10S Denim Fabric |
1.13 |
USD/Meter |
0% |
09-07-2020 |
|
32S Twill Fabric |
0.64 |
USD/Meter |
0% |
09-07-2020 |
|
40S Combed Poplin |
0.93 |
USD/Meter |
0% |
09-07-2020 |
|
30S Rayon Fabric |
0.48 |
USD/Meter |
0% |
09-07-2020 |
|
45S T/C Fabric |
0.64 |
USD/Meter |
0% |
09-07-2020 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.14260 USD dtd. 09/07/2020). The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
The need for new textiles in post COVID-19 era is explored in a fascinating new Waterrepellent Seamless Textiles project, a collaboration between seamless knitting machinery manufacturer Santoni Shanghai and design consultants Studio Eva X Carola. In the project, which explores the impact of home working on clothing needs post coronavirus, a series of new materials is developed for seamlesswear, that fulfil the functions – hybridity, visual amazement, safety and protection, and health and wellbeing. As the world starts to get back to work, from home or otherwise, Knitting Industry spoke to Shanghai based Eva de Laat and Carola Leegwater of Studio Eva X Carola about the project. Working from home “Millions of people are now working from home due to COVID-19. According to newspapers like The Guardian, this could lead to a permanent shift towards working from home for many employees once the pandemic is over. Employers are realising the many benefits of working from home, such as higher productivity and savings of over $11,000 per person,” Eva de Laat begins. “Working from home allows employees to spend more time with their families, save money on commuting, live in cheaper rural areas and lower their carbon footprint. As a result of these insights, it’s estimated that 25-30 million US employees will start to work from home regularly over the next 2 years.” The figures for the increase in home working post pandemic are staggering, especially in large populations like the USA. Living in the ‘new normal’ is already having a massive impact on the clothing we wear. Eva de Laat continues: “This rapidly growing trend means there’s a demand for clothing to wear when working from home. For efficiency and comfort, the majority of home workers tend to wear the same clothes throughout the day. But the day is still divided into different activities. This means there’s a need for clothing that is multifunctional and fulfils different needs at once.”
Source: Innovation in Textiles
The global economy is likely to contract by 5.2 per cent in 2020 with the coronanvirus still spreading and the economic prospects of countries across the world looking muted, says a report. According to Dun and Bradstreet's Country Risk and Global Outlook Report, that covered 132 countries, the wider global context remains sombre and the global economy will not reach pre-pandemic levels of activity again before 2022. "D&B is currently forecasting that the global economy will contract by 5.2 per cent in 2020 - the biggest decline since the Second World War and a far stronger contraction than the 1.7 per cent recorded in 2009 during the global financial crisis," the report said. The Asia Pacific region is unlikely to shake off the economic effects before the end of 2020, it added. "Widespread quantitative easing means that financial asset prices globally are not reflecting the shock to fundamentals. But with many countries easing their lockdowns, a more varied picture of upgrades and downgrades has emerged," Dun & Bradstreet Chief Economist Arun Singh said. Singh further noted that "worryingly, a sharp recession is still forecast, and we expect that the world economy will not attain prepandemic levels of activity before 2022." The report said any recovery into 2021 (even without a second bout of the pandemic) is going to be curtailed by several factors. Foremost will be the presence of degrees of social distancing (despite the easing of lockdowns) and higher levels of postlockdown unemployment and poverty. Meanwhile, the number of cases around the world linked to COVID-19 has crossed 1.18 crore and the death toll has topped 5.44 lakh. In India, the death toll due to the disease rose to 20,642 and the number of infections increased to 7,42,417 on Wednesday. Singh further said India's economy is expected to contract this fiscal year after four decades of positive growth. "In March, we downgraded India's rating to DB5c from DB4d - both the magnitude of the downgrade and the risk level are the highest since 1994," Singh noted. DB5 means high risk and denotes that "considerable uncertainty is associated with expected returns. Businesses are advised to limit their exposure and/or select high risk transactions only." Dun & Bradstreet's Country Risk Indicator provides a comparative, cross-border assessment of the risk of doing business in a country. The risk indicator is divided into seven bands, ranging from DB1 to DB7, with DB1 being lowest risk. Each band is subdivided into quartiles (a-d), with 'a' representing slightly less risk than 'b' (and so on). Only the DB7 indicator is not divided into quartiles.
Source: Economic Times
An informal session of the Turkmen-Italian business forum with the participation of Italian Deputy Minister of Foreign Affairs and International Cooperation Manlio di Stefano took place in a video conference format on June 19 and on Monday, Business Turkmenistanreports. Italian Ambassador to Turkmenistan Diego Ungaro wrote in the directory that the statistical data published by Italian National Institute of Statistics (ISTAT) in March this year shows the value of bilateral trade between Italy and Turkmenistan for 2019 has grown by 83% compared to 2018, reaching a total of €143.5 million. In particular, Italy's exports to Turkmenistan recorded a value of €53.1 million, while it imported €90.4 million worth of products from the country. The main export items reported by the ISTAT are electrical equipment (€17.7 million), machinery (€14.2 million) and rubber and plastic products (€8.4 million). The figures relating to the value of imports show that Italy has mainly purchased unrefined (€71.7 million) and refined (€14.7 million) energy products. The country has also imported textile products (€2.0 million) and chemicals (€1.6 million) from Turkmenistan. Global COVID-19 pandemic negatively affected the bilateral trade in 2020, the Business Directory says. The preliminary ISTAT data shows that bilateral trade in January-March 2020 amounted to nearly €10.4 million. During the period, Italy exported products worth €8.9 million to Turkmenistan and imported €1.5 million worth of products from the country.
Source: Aki Press
Bangladesh’s Root Group of Companies recently unveiled ‘Corona Killer’ fabrics based on Swiss technology that can be used to make protective clothing, denims, garments, home textiles and air filters. Combining advanced silver and vesicle technology, the fabrics can quickly deactivate most viruses, including coronavirus, the company claimed. Group managing director Mohammad Razzakul Hossen Tutul said as specific drugs or vaccines are yet to be developed, people can use Corona Killer to protect themselves from infection, according to Bangla media reports. The Chittagong Veterinary and Animal Sciences University will conclude a memorandum of understanding with the company for research on the fabrics.
Source: Fibre2Fashion
Members of TMAS – the Swedish textile machinery association – have adopted a range of new strategies in response to the Covid-19 pandemic, aimed at assisting manufacturers of textiles and apparel to adjust to a new normal, as Europe and other regions emerge cautiously from lockdown. “Many European companies have been forced into testing new working methods and looking at what it’s possible to do remotely, and how to exploit automation to the full, in order to become more flexible,” says TMAS Secretary General Therese PremlerAndersson. “Others have been taking risks where they see opportunies and there’s a new sense of solidarity among companies. “It’s extremely encouraging, for example, that over five hundred European companies from across our supply chain are reported to have responded to the shortages of facemasks and PPE – protective personal equipment – by converting parts of their sites or investing in new equipment.” New supply chains Amongst them are TMAS members of the ACG Group, who quickly established a dedicated new nonwovens fabric converting and single-use garment making-up plant to supply to the Swedish health authorities. From a standing start in March, this is now producing 1.8 million square metres of converted fabric and turning it into 692,000 finished medical garments each month. “In 2020 so far, we have seen new value chains being created and a certain amount of permanent reshoring is now inevitable,” says Premler-Andersson. “This is being backed by the new funding announced in the European Union’s Next Generation EU plan, with €750 billion marked for helping industry recover. As the European Commission President Ursula von der Leyen has stressed, “green and digital” transitions hold the key to Europe’s future prosperity and resilience, and TMAS members have new solutions to assist in both areas.” Remote working Automated solutions have opened up many possibilities for remote working during the pandemic. Texo AB, for example, the specialist in wide-width weaving looms for the paper industry, was able to successfully complete the build and delivery of a major multicontainer order between April and May. “Our new Remote Guidance software now makes it possible for us to carry out some of the commissioning and troubleshooting of such new lines remotely, which has been helpful” says Texo AB President Anders Svensson. Svegea of Sweden, which has spent the past few months developing its new CR-210 fabric relaxation machine for knitted fabrics, has also successfully set up and installed a number of machines remotely, which the company has never attempted before. “The pandemic has definitely led to some inventive solutions for us and with international travel currently not possible, we are finding better methods of digital communication and collaboration all the time,” says Svegea managing director Hakan Steene. Eric Norling, Vice President of the Precision Application business of Baldwin Technology, believes the pandemic may have a more permanent impact on global travel. “We have now proven that e-meetings and virtual collaboration tools are effective,” he says. “Baldwin implemented a home office work regime from April with only production personnel and R&D researchers at the workplace. These past few months have shown that we can be just as effective and do not need to travel for physical meetings to the same extent that was previously thought to be necessary.” Pär Hedman, Sales and Marketing Manager for IRO AB, however, believes such advances can only go so far at the moment. “Video conferences have taken a big leap forward, especially in development projects, and this method of communication is here to stay, but it will never completely replace personal meetings,” he says. “And textile fabrics need to be touched, examined and accepted by the senses, which is impossible to do via digital media today. The coming haptic internet, however, may well even change that too.” Social distancing The many garment factories now equipped with Eton Systems UPS work stations – designed to save considerable costs through automation – have meanwhile benefited from the unintentional social distancing they automatically provide compared to factories with conventional banks of sewing machines. “These companies have been able to continue operating throughout the pandemic due to the spaced nature of our automated plant configurations,” says Eton Systems Business Development Manager Roger Ryrlén. “The UPS system has been established for some time, but planned spacing has proved an accidental plus for our customers – with improved productivity.” “Innovations from TMAS member companies have been coming thick and fast recently due to their advanced know-how in automation concepts,” Premler-Andersson concludes. “If anything, the restrictions imposed by the Covid-19 pandemic have only accelerated these initiatives by obliging our members to take new approaches.”
Source: Innovation in Textiles
