|
Item |
Price |
Unit |
Fluctuation |
|
PSF |
1189.45 |
RMB/Ton |
-0.41% |
|
VSF |
1842.51 |
RMB/Ton |
0% |
|
ASF |
2430.75 |
RMB/Ton |
0% |
|
Polyester POY |
1199.17 |
RMB/Ton |
-0.34% |
|
Nylon FDY |
2949.31 |
RMB/Ton |
0% |
|
40D Spandex |
6887.13 |
RMB/Ton |
0% |
|
Nylon DTY |
5712.26 |
RMB/Ton |
0% |
|
Viscose Long Filament |
1482.76 |
RMB/Ton |
-0.54% |
|
Polyester DTY |
2706.24 |
RMB/Ton |
0% |
|
Nylon POY |
2576.60 |
RMB/Ton |
0% |
|
Acrylic Top 3D |
1426.04 |
RMB/Ton |
0% |
|
Polyester FDY |
3257.21 |
RMB/Ton |
0% |
|
30S Spun Rayon Yarn |
2560.39 |
RMB/Ton |
0% |
|
32S Polyester Yarn |
1895.99 |
RMB/Ton |
0% |
|
45S T/C Yarn |
2868.29 |
RMB/Ton |
0% |
|
45S Polyester Yarn |
2025.63 |
RMB/Ton |
0% |
|
T/C Yarn 65/35 32S |
2479.37 |
RMB/Ton |
0% |
|
40S Rayon Yarn |
2690.03 |
RMB/Ton |
0% |
|
T/R Yarn 65/35 32S |
2592.80 |
RMB/Ton |
0% |
|
10S Denim Fabric |
1.58 |
RMB/Meter |
0% |
|
32S Twill Fabric |
0.99 |
RMB/Meter |
0% |
|
40S Combed Poplin |
1.35 |
RMB/Meter |
0% |
|
30S Rayon Fabric |
0.72 |
RMB/Meter |
0% |
|
45S T/C Fabric |
0.78 |
RMB/Meter |
0% |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.16205 USD dtd. 15/03/2015)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Representatives from South Indian Mills Association met Textile Minister Santosh Gangwar and sought reduction in excise and import duties while pitching for higher fund allocation. "It is essential to reduce the central excise duty on man-made fibre from 12 percent to 6 percent on par with cotton and also remove the 5 percent import duty and 4 percent special additional duty. This is to enable Indian textile industry to achieve a substantial growth rate in the markets of man-made textile products as this segment has not achieved any growth rate over a period," SIMA Chairman T Rajkumar said. "The industry had demanded for an allocation of Rs 3,500 crore for the ongoing Technology Upgradation Funds scheme (TUFS) to meet the liabilities of the last three quarters of 2014-15 and also for the entire period of 2015-16. But the Union Budget has allocated only Rs 1,520 crore which may not meet the fund requirement for even 2014-15," Rajkumar said. He added that the industry had also demanded an allocation of Rs 3,000 crore to meet the pending cases under TUF scheme including committed liability, left out cases and blackout period with effect from 1st April 2007. This is to sustain financial viability of around Rs 65,000 crore investments already made by the industry. According to Rajkumar who met Gangwar yesterday in this regard, the Textile Minister promised to take up the matter with the Ministry of Finance and ensured to allot adequate funds in due course. The industry has also demanded 5 per cent interest subvention, reduction of margin money from 25 per cent to 10 per cent and increase the credit limit from 3 months to 9 months for the cotton working capital to bring stability in cotton prices. This would enhance the growth rate of cotton textile industry by 3 to 5 percent and also ensure fair prices for the cotton farmers, it added.
SOURCE: The MoneyControl
Government will take steps to ease off the difficulties for the entrepreneurs who are willing to come and invest in the state of Jammu and Kashmir. An industry friendly atmosphere will be created albeit without compromising on the ecological and environmental aspects. Minister for Industries and Commerce, Chander Parkash during his maiden visit to the SIDCO Complex Ghati and Textile Park in Kathua, reiterated the Government’s resolve to promote a healthy environment for Entrepreneurs to set up units and support Industrial growth in the state.
At SIDCO Industrial Area at Ghati, the Minister reviewed the progress on the development of amenities in the Industrial area. He also took stock of the progress made for the establishment of the proposed Biotechnology Park inside the SIDCO industrial area. General Manager, SIDCO, Vikram Gupta briefed the Minister about the initiatives taken for acquiring land and other clearances. The Minister also visited Textile Park in Kathua and took review of the progress made under the project. Under the project as many as 27 textile units will be opened in the park with all modern facilities. This would enable the entrepreneurs to produce high value added products, enhance their productivity and meet international procurement standards.
At the Integrated Textile Park ('Park') in Govindsar Industrial Area, Kathua (Jammu & Kashmir) weaving will be the predominant activity, under the Scheme for Integrated Textile Park of Ministry of Textiles, Government of India. The Aggregate investment in the textile Park is estimated to be to the tune of Rs. 163.07 Crores excluding the common infrastructure. The textile park will provide both direct and indirect employment. The Minister also met the deputation of entrepreneurs and held detail discussions on the problems being faced by them during and after the establishment of Industrial units and assured to address all the genuine problems and a hassle free mechanism will be followed by the administration for their benefit.
SOURCE: YarnsandFibers
Forget the target of reaching $340 billion - merchandise export in 2014-15 might even contract compared to the $314 billion of 2013-14. Consecutive months of double-digit decline, coupled with poor performance of the top exporting sectors, are likely to drag down shipments, even as exporters continue their long wait for the government to unveil the new Foreign Trade Policy (FTP). Exports had fallen 1.85 per cent in 2012-13, when shipments from India reached $300 billion compared to $306 billion in 2011-12. In 2009-10 as well, exports fell, by 3.4 per cent year-on-year. If exports do fall this financial year as well, it would be a third decline in six years.
In 2014-15, which ends this month, exports saw a double-digit fall in January and February - 11.2 per cent and 15 per cent, respectively. In fact, it was the third consecutive decline in exports in February and the fourth in the current financial year. "This is the only financial year when the fourth quarter is performing poorly. Generally, exports have a tendency to pick up in the last quarter. This year, it looks difficult to reach even what we achieved last year," said Soumya Kanti Ghosh, chief economic advisor, State Bank of India.
The target was to achieve $340 billion worth of exports in 2014-15. However, the sector got adversely impacted on account of muted global demand, reflected in a huge fall in commodity prices. This led to a decline in export of the top five sectors, of which the biggest contraction was registered by petroleum products and agricultural commodities. Petroleum exports used to be the biggest item of outward shipment, about 20 per cent of the country's total. In February alone, export of petro products fell 54.6 per cent to $2.1 billion, over the $4.6 billion in the same month of 2013-14. "Lower oil prices have led to an almost 50 per cent decline in the dollar value of petro exports in January and February, year-on-year. At the current rate, exports will barely manage to touch last year's level," said D K Joshi, chief economist, CRISIL.
In fact, an official strategy paper of 2011 had envisaged a much higher export figure for 2014-15. The paper, prepared by then commerce secretary Rahul Khullar, had envisioned exports would reach $500 billion by 2014-15. It had said there would be a big leap if there was diversification. As a result, the FTP in subsequent years offered a slew of sops for marketing of produce in the newer markets of Africa, Latin America and the Asean region. However, exporters failed to effectively look beyond the traditional markets of America and Europe. These failed to give robust returns, owing to the slowing in their domestic economies.
The US market seems to now be reviving, with its economy adding 295,000 jobs in February, and the unemployment rate falling to 5.5 per cent, lowest in the post-recession period. A full-blown economic recovery there, however, remains elusive. The US economy grew 2.4 per cent in 2014, marginally up against 2.2 per cent the previous year. As complete global recovery is yet to come, merchandise exports have continued to hover between $300 billion and $314 billion since 2011-12. In 2011-12, it was almost $306 billion; in 2012-13, it was $300.4 billion, and in 2013-14, $314.4 billion. "Exporters have to become aggressive in venturing into the newer markets, without which exports will not take a quantum leap," Ghosh said.
Apart from petro products, he said exports got clobbered this financial year also because of falls in the outbound shipments of agricultural items, textiles, gems and jewellery. The fall in the last category has largely been due to the restrictions in import of gold, now relaxed significantly. In agri export, items facing a downward spiral are rice, meat products and oilmeal, due to low food prices worldwide. According to the latest official data, export of oilmeal, rice and cereals contracted 45.5 per cent, 12.4 per cent and 56.8 per cent, respectively, in February.
Exporters, on the other hand, are miffed that the new government is yet to detail a strategy for foreign trade. In the Union Budget for 2015-16, unveiled last month, there was no mention of specific incentives for the community. One of their main expectations had been extension of the two per cent interest subvention across all sectors. According to M Rafeeque Ahmed, president of the Federation of Indian Export Organisations, and a leading leather exporter, the sharp decline in the value of the euro against the dollar was also responsible for the double-digit decline in Indian exports in January and February. The euro's value came down to a 14-year low against the dollar. As a result, pricing has become a major issue in that market, which accounts for 18.5 per cent of our exports. Traditional sectors such as apparel, textiles, gems and jewellery, leather goods and machinery are heavily concentrated in the euro zone. The World Trade Organization (WTO) has cut its growth forecast for merchandise exports in 2014 and 2015. According to WTO, trade in goods will grow by 3.1 per cent against earlier projection of 4.6 per cent in 2014 and four per cent against earlier forecast of 5.3 per cent in 2015.
SOURCE: The Business Standard
Promising complete cooperation in creating a business-friendly environment on all aspects, India has asked German companies to invest in the country and take optimum advantage of the 'Make in India' initiative. "The Government of India is committed to creating an enabling environment wherein global business corporations are extended complete cooperation for guiding foreign investors on all aspects," India's Consulate General in Frankfurt Raveesh Kumar said during a networking event organised in Pfalzbau.
Making a strong pitch for investing in India, Kumar highlighted how the reform measures introduced through the 'Make in India' initiative are challenging the status quo and providing new opportunities for the German industry. "It has created innovative mechanisms for guiding foreign investors on all aspects of regulatory and policy issues and to assist them in obtaining regulatory clearances," he said. The 'Make in India' event was attended by over 50 participants representing German companies, law and consultancy firms, entrepreneurial class, government organisations and financial institutions.
The Government is closely monitoring all regulatory processes with a view to simplifying them and reducing the burden of compliance on investors, Kumar said. He also said India will be participating at the upcoming Hannover Messe 2015 event as Partner country under the 'Make-in-India' theme. He said State Governments across India, Business Chambers and Indian Missions globally are also playing an active role in supporting the initiative. "Make in India is a great initiative and welcome move for German companies. Enabled by IT, this campaign will be a true game changer for core sectors growth in India," Matt Preschern, Executive Vice President & CMO, HCL TechnologiesBSE 1.31 %, said in his address. "Germany and the DACH (an acronym used to represent the dominant states of the German language) region are the dominant markets for IT services in Europe. We believe Germany has exponential potential for IT services," he added. India was identified as one of the most promising economies for German industry in the coming years.
SOURCE: The Economic Times
The Union Ministry of Textiles has approved a Rs 20 crore Integrated Skill Development Scheme (ISDS) for implementation in Haryana in addition to existing ones for generating more employment for the youth. This information was given by Education Minister Ram Bilas Sharma in a written reply to a question during the ongoing budget session of Haryana Assembly. Sharma stated that under the scheme 75 per cent of the training cost would be provided by the Ministry of Textiles and the remaining would be contributed by the State.
Textiles related courses in the sectors of garments, spinning, weaving, handlooms, dyeing, etc would be introduced in seven districts -- Panipat, Gurgaon, Faridabad, Hisar, Bhiwani, Rohtak and Ambala. He informed that curriculum approved by Director General Employment and Training (DGET), Government of India, under Skill Development Initiative Scheme based on Modular Employable Skills (MES) would be taught.
SOURCE: The Business Standard
Indian port sector’s investment climate and operational efficiencies are set to improve, thanks to two key developments that took place in the first two months of 2015, according to rating agency ICRA. First, the Tariff Authority for Major Ports (TAMP) issued policy guidelines to determine market-linked rates for major ports. These guidelines were framed keeping in view the growing market share of non-major ports in the past few years (43 per cent in 2013-14). Currently, non-major ports are not covered under any rate regulation.
TAMP’s guidelines suggest major ports adhere to performance standards committed by them in order to get the indexation benefits, where the rates would be automatically indexed to the Wholesale Price Index every year. If a particular port trust does not fulfil the performance standard, no indexation would be allowed in the next year. The new policy should lead to better standards and fairer competition between major and non-major ports, while the investment climate at the former would get a fillip, said K Ravichandran, senior vice-president and co-head, corporate ratings, ICRA.
The second development is approval of the Attorney General of India to allow existing private operators at major ports operating under the rate guidelines framed in 2005 and 2008 to migrate to the market-linked rate regime, announced in July 2013. With the AG’s approval, the proposal now requires approval from the Cabinet, after which all the ports and terminal operators under different rate regimes would be brought under a common platform.
SOURCE: The Business Standard
The Chhattisgarh State Industrial Development Corporation (CSIDC), functioning under the aegis of the Government of Chhattisgarh, has proposed development of an Integrated Textile Park at Tilda, near the state capital city of Raipur, to boost investment in textile manufacturing sector in the state.CSIDC said it intends to develop the textile park on 32 hectare area as per Scheme of Integrated Textile Park (STIP) of the Ministry of Textiles, Government of India. The Indian government’s support under the STIP by way of Grant of Equity will be limited to 40 per cent of the project cost subject to a ceiling of Rs 40 crore.
To make the integrated textile park a reality, the CSIDC has invited expressions of interest (EOI) from entities, joint ventures, and consortiums having experience in textile manufacturing or intending to venture into textile manufacturing sector. The companies showing EOI would become part of Special Purpose Vehicle (SpV) formed by CSIDC specifically for the development, operation and management of Integrated Textile Park.
The proposed textile park, to be set up at an estimated cost of Rs 110 crore, would have ginning and pressing, spinning, weaving, processing, and garmenting facilities. It is aimed at providing one stop integrated facilities with manufacturing support, welfare and common infrastructure facilities to the prospective textile industries. The proposed textile park is envisaged to house world class eco system for textile industry, CSIDC said in its project report. The Chhattisgarh government has declared textiles as a priority sector in its industrial policy. The state produces tassar cocoons, yarn and fabrics. Silk products from state are famous for its quality and have good demand in domestic and export markets.
SOURCE: Fibre2fashion
In order to ensure 'ease of doing business in Maharashtra', Chief Minister Devendra Fadnavis today said the state government has done away with the need to obtain permission of the municipal commissioner, for those setting up industrial units in the civic corporation limits. "The state cabinet has decided to modify section 313 of the Municipal Corporation Act, which mandated the industries setting up units in the civic corporation limits to obtain nod of the municipal commissioner," the chief minister informed the state Legislature in a statement.
After having already sought permission of Maharashtra Industrial Development Corporation (MIDC), it was felt that industries lost time in seeking the municipal corporation nod, he said. "Now, as per the new norms, units in MIDC area won't have to seek permission from the municipal corporation," the chief minister said. The MIDC recently decided to reduce the number of necessary permissions from 14 to just five for commissioning of any factory in its area of jurisdiction. A total of 14 approvals by MIDC were required so far at the pre-commissioning stage. Now, they have been brought down to five, an official in the Chief Minister's office had said.
SOURCE: The Business Standard
In the written reply in Rajya Sabha on the 11th of March, Nirmala Sitharaman, Minister of State for Commerce and Industry (Independent Charge) specified that the government is taking measures to promote exports by small and medium (SME) Pharmaceutical manufacturers. “For technology up-gradation to Micro and Small Enterprises in the pharma sector, Ministry of Micro, Small & Medium Enterprises (MSME) is running Credit Linked Capital Subsidy Scheme (CLCSS) under which Micro and Small Enterprises are entitled to take loan up to ` 1 crore with 15 per cent subsidy,“ She said in a written reply to the Rajya Sabha.
The minister added that other initiatives include providing financial assistance through export promotion councils, facilitating trade delegation meets and organizing international exhibitions among others. The Indian economy is expected to grow by over eight per cent per annum until 2020. It can become the sec ond largest in the world, ahead of the United States, by 2050, and the third largest af ter China and the United States by 2032. However Industry experts believe this target would be difficult to achieve without the active par ticipation of the SME sector.
Chandrakant Salunkhe, president of the SME Chamber of India explains that at pres ent the SMEs who are involved directly or indirectly in the pharmaceutical sector are fac ing tough times. “The entre preneurs who are involved in the exports of pharma equip ments face direct competition from countries like China, Korea and Japan. So the step by the government is indeed a welcome one,“ he adds. According to Salunkhe, SME sector contributes around 15 to 16 per cent to India's GDP and is expected to touch a figure of 22 percent in the next 3 years. “However a lot is expected and much needs to be done if the figure needs to be achieved. Nearly 60 per cent of the SMEs in India fall in the unorganized sector. Once this untapped potential becomes the source for growth of these units, the size of Indian GDP can surpass that of developed nations,“ he informs.
Salunkhe explains that the SME sector at times fails on achieving its full potential due to lack of direction. “A small entrepreneur faces several difficulties including access to finance to expand their operation. In addition, the loans that they get are not on preferential rates but are available around 15-18 per cent rate of interest which adds to their cost of operation. In several Asian counties, loans are available on interest as low as three per cent annually. India should take such steps,“ he adds.
According to Salunkhe, out of the total exports in India, 43 per cent is regards to exports from the SME sector. “We anticipate the figure to go up to at least 47-48 per cent by 2018,“ he informs.The central government on its part has also set up National Manufacturing Competitiveness Council to suggest ways to enhance competitiveness in the manufacturing sector. The government has already announced a National Manufacturing Policy (NMP) that aims at raising the share of manufacturing to 25 per cent of GDP by 2022. The NMP envisages setting up of national investment and manufacturing zones, which are industrial townships, benchmarked to the best manufacturing hubs in the world.
SOURCE: The Economic times
After rising for five weeks the Reserve Bank of India (RBI)’s foreign exchange reserves fell by $286.3 million to $337.79 billion in the week ended March 6, show data released on Friday. Foreign currency assets, a key component, rose by $122.4 million to $312.32 billion. During the week, gold reserves fell $346.2 million to $19.84 billion. Special Drawing Rights fell by $44.6 million to $4.02 billion, while India’s reserve position with the International Monetary Fund was down $17.9 million to $1.61 billion.
Meanwhile, on Friday the rupee ended near a level earlier seen on January 7. The rupee touched the 63 mark in intra-day trades before closing at 62.97, compared with the previous close of 62.51. The rupee had ended at 63.18 a dollar on January 7. “It weakened on likely RBI intervention. RBI apparently bought dollars in the spot market and might have picked up close to $800 million through intervention. Sources speculate that expecting a more hawkish tone from the US Fed, the central bank could be shoring up dollars,” said Suresh Nair, director, Admisi Forex India. Currency dealers believe the weakness in rupee might continue even next week.
SOURCE: The Business Standard
With around 50 Chinese firms evincing interest towards investment in Uttar Pradesh, industry body Assocham is working on a proposal for setting up a 'Chinese Manufacturing Zone' in the state. Around 50 Chinese companies were in contact with the industry body, Assocham's secretary general D S Rawat told PTI. He said that these companies want to invest in India through a 'manufacturing zone' and as per their requirement UP is the most suitable place. "Assocham is working on a project, whose proposal will be submitted to Chief Minister Akhilesh Yadav after three weeks. In this proposal, we will ask the government to set up a Chinese manufacturing zone. "If the government provides land and some rebate in taxes to these willing companies then they will create a zone on their own. They want to bring 100 other companies with them," Rawat said. He said that if this project turn successful it would bring at least one lakh crore investment in the state. "The Chinese companies will develop their own townships, including school, hospital and other amenities. This will provide employment to 30,000 to 40,000 persons directly or indirectly and the image of UP will change not only in India, but worldwide," he said.
The Assocham secretary general said that if the dream of 'Make in India' has to be realised, this opportunity of investment needs to be grabbed. "Chinese companies, which are willing to set up manufacturing zone anywhere in the country, need help of the organisation. We are emphasising on UP as it is close to Delhi and has the strength to develop basic infrastructure. Besides, the state government is looking towards investment," Rawat said. He said, "We met the Chinese Ambassador and told him that before sending the proposal to the UP government, the organisation will meet the research team and ask whether it agreed with it or not." He said that if required Assocham would organise a meeting between the officials of the state government and Chinese companies. Rawat said that trade has become one-sided in favour of China. He said that as compared to China, India import goods worth more than Rs 2.5 lakh crore. "If China has to do better business in India, it needs to set up its industries here," he said.
SOURCE: The Economic Times
Continued uncertainty in the Euro Zone resulted in a sharp 15.02 per cent export decline in February to $21.54 billion from the same month last year. The fall in out-bound shipments — the third in a row —- is spread across all major sectors, including gems & jewellery, engineering goods, petroleum products, electronics and pharmaceuticals. The decline, however, has not dented the balance of payments as imports posted a sharper decline of 15.66 per cent to $28.39 billion during the month due to low global oil prices.
The trade deficit narrowed to $6.84 billion in February compared with $8.31 billion a year ago, according to quick Commerce Ministry estimates. Exporters have called for immediate announcement of relief measures in the “long-delayed’’ Foreign Trade Policy by the Central government to retain their foot-hold in Europe. “The demand from Europe is low because of continued financial problems in the zone and the value of euro has been falling. Chinese exporters, because of their fixed exchange rate, are faring much better,” said Federation of Indian Export Organisations chief Rafeeque Ahmed. Engineering Export Promotion Council Chairman Anupam Shah said engineering exports, which had managed to stay afloat the last few months, also declined in February, underlining the need for fiscal support.
SOURCE: The Hindu Business Line
The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 54.56 per barrel (bbl) on 13.03.2015. This was lower than the price of US$ 56.09 per bbl on previous publishing day of 12.03.2015.
In rupee terms, the price of Indian Basket decreased to Rs 3419.28 per bbl on 13.03.2015 as compared to Rs 3509.55 per bbl on 12.03.2015. Rupee closed weaker at Rs 62.67 per US$ on 13.03.2015 as against Rs 62.57 per US$ on 12.03.2015.
The table below gives details in this regard
|
Particulars |
Unit |
Price on March 13, 2015 (Previous trading day i.e. 12.03.2015) |
Pricing Fortnight for 16.03.2015 (Feb 26 to Mar 11, 2015) |
|
Crude Oil (Indian Basket) |
($/bbl) |
54.56 (56.09) |
58.21 |
|
(Rs/bbl |
3419.28 (3509.55) |
3618.92 |
|
|
Exchange Rate |
(Rs/$) |
62.67 (62.57) |
62.17 |
RC/Rk/Daily Crude oil price- 16.03.2015
SOURCE: PIB
The Union Ministry of Textiles has given approval of Rs 20 crore funds under Integrated Skill Development Scheme (ISDS) for implementation in addition to existing ones for generating more employment for the youth in Haryana. This information was give by Education Minister Ram Bilas Sharma during the ongoing budget session of Haryana Assembly.
Sharma stated that under the scheme 75 percent of the training cost would be provided by the Ministry of Textiles and the remaining would be contributed by the State. Textiles related courses in the sectors of garments, spinning, weaving, handlooms, dyeing, etc would be introduced in seven districts — Panipat, Gurgaon, Faridabad, Hisar, Bhiwani, Rohtak and Ambala. He informed that curriculum approved by Director General Employment and Training (DGET), Government of India, under Skill Development Initiative Scheme based on Modular Employable Skills (MES) would be taught.
SOURCE: YarnsandFibers
Prime Minister Narendra Modi on Friday assured Sri Lanka that India would address the concerns arising out of the two-way merchandise trade between the neighbours, even as he pitched for having a Comprehensive Economic Partnership Agreement (CEPA). Highlighting the need to expand the ongoing free trade agreement (FTA) signed in December 1998, Modi said India would take all necessary measures to see ensure Sri Lankan goods enter Indian markets smoothly. “India's trade environment is becoming more open. Sri Lanka should not fall behind others in this competitive world. That is why we should conclude an ambitious Comprehensive Economic Partnership Agreement,” Modi said while addressing the Sri Lankan Parliament on Friday.
Modi, who arrived in Colombo for a two-day visit, was on the last leg of his three-nation trip to the Indian Ocean nations. Before Sri Lanka, he had visited Seychelles and Mauritius. He is the first Indian PM to visit Sri Lanka since Rajiv Gandhi’s visit in 1987. Despite the FTA being in force for 17 years, the trade balance continues to remain in favour of India. As a result, Sri Lanka had been reluctant on signing the CEPA although it was negotiated after 13 rounds of talks, concluded in 2008. An FTA is restricted to goods, while a CEPA encompasses trade in goods, services and investment. The FTA with Sri Lanka has been operational since March 2000. “We will work with you to address your concerns to boost trade and make it more balanced,” Modi said. “India can also be a natural source of investments... and to build your infrastructure. We have made good progress today. Let us also work together to harness the vast potential of the Ocean Economy,” Modi added.
The matter was also raised during his meetings with Sri Lankan President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe. Sri Lankan authorities have often complained about its exports facing non-tariff barriers and stringent customs rules while entering India. India and Sri Lanka had also set up a joint study group in April 2003 to identify the sectors where bilateral trade can be enhanced.
According to a study by the Confederation of Indian Industry, while exporting to India, some restrictions noted by Sri Lanka were in terms of access to ports, quotas, stringent rules of origin requirements, and non-tariff barriers. The Indian tariff and non tariff barriers are cited as a major problem faced by Sri Lankan exporters. Sri Lanka is India’s major trading partner in South Asia. Bilateral trade in 2013-14 was $5.2 billion with Indian exports amounting to nearly $4 billion and Sri Lankan exports to $678 million. India emerged Sri Lanka’s largest trading partner in 2012 accounting for 20 per cent of that country’s imports and 5.6 per cent of exports. Meanwhile, the two sides signed four agreements on visa, customs, youth development and building a Rabindranath Tagore memorial in Sri Lanka. “The agreement today on cooperation between our customs authorities is a step in that direction. It will simplify trade and reduce non-tariff barriers on both sides,” Modi said.
Modi asserted that India would take active participation in developing the Sri Lankan economy. He said a joint task force would be created soon to make Trincomalee, a city in Sri Lanka, become a regional petroleum hub. He said in order to meet Sri Lanka’s energy needs, the Indian government would expedite the building of Sampur Coal Power project.
SOURCE: The Business Standard
Pakistan has been trying to convince Turkey to waive off or reduce 42.2 percent duty it has imposed on Pakistani textile imports since 2011, but Turkey has always been coming up with a negative response. To this, the government has finally taken decision to end its efforts to convince Turkish government. According to officials, this decision was made after Turkey refused to accommodate Pakistan after several attempts from Pakistan. The highest level request, in this regard, was made to Turkish Prime Minister, Ahmet Davutoglu, during his recent visit to Pakistan, but the visiting PM refused. Turk delegation headed by Prime Minister visited Pakistan last month, during which, the two countries signed eleven additional agreements and MoUs.
During a joint press conference, Turkish premiere said that both the countries have agreed to give a central thrust to bilateral trade and investment cooperation. Both countries’ officials discussed ways and means to enhance cooperation between the two countries in diverse fields including economy, trade, energy, communications, education, culture and tourism. But despite a successful visit to Pakistan, Turk premiere rejected Pakistan’s request to waive off the duties on Pakistani exports, stating that Turkey has banned many items from many countries and giving any favour to one specific country may displease other countries.
After getting a plain reply from Prime Minister, Pakistan tried to include the matter into free trade agreement initiated between both the countries recently, on the pressure of local industry especially textile. Both countries have agreed to sign the FTA, which is expected to be signed in two years time, which will enhance bilateral trade to $10 billion from existing volume of $650 million. The textile industry officials said that Pakistan’s textile exports were reduced by almost 50 percent to around $500 million from $1 billion after safeguard duties were imposed to protect Turkish industry.
Various apparel sector trade bodies have been urging the textiles ministry to urge the Turkish government to waive off the duty. According to local carpet industry representatives, Turkey, the second largest importer of Pakistani handmade carpets, has imposed 42.2pc customs duty on 130 Pakistani products including hand-knotted carpet, leading to a further decline in carpet exports. The representatives state that almost 100 percent of locally produced carpets are exported, providing direct labour to the most under-privileged and uneducated 5pc strata of their society, and around 70pc of work force of this sector comprises young women who make carpets at home.
According to Pakistani textile and apparel exporters, the Turkish textile sector did not face any threat from Pakistani imports. After refusal from Turkish PM, it was the pressure from local industry that government try to convince Turkey to waive off or reduce taxes on Pakistani imports under the FTA, but Turkey rejected it. Now government has realized that Turkey has no intentions to facilitate Pakistan so the industry should find new buyers and in this regard, government is also considering playing its role. Government is looking into the agreement, that after the ban of Pakistani imports what other business opportunities exist between the two countries, an official said. In order to sign FTA with any country, there must be equal amount of benefit for the both the countries. We are considering all options, the official said.
SOURCE: Yarns&Fibers
After China, India is the fastest growing market in terms of export and retail. With labour cost in China going higher, many customers worldwide are looking at Indian sources. Changzhou-based World Textile Group, manufacturers of synthetic fabrics with their strong supply base in fabrics and garments, besides owning a brand, their next step is to move to the Indian market. In a bid to explore the Indian market, they are planning to set up a bonded warehouse to cater to the growing needs of the retail market in India. They are exploring the Indian market not only for their sales, but also in terms of buying garments for their brands, , said World Textile Group General Manager Mondy Qin at the Fabric & Accessories trade show.
World Textile Group manufactures synthetic fabrics like polyesters, nylons, and blends of polyesters, nylons, and cotton, mainly for outer wear and active wear. The textile group have already set up an office in Bengaluru eight months ago, and they are trying to increase their customer base which includes Gokaldas Exports, Texport Overseas, Arvind Garments, among others. The fluctuation in the yen against the US dollar is affecting the export business. So for the long term they are planning to set up a manufacturing unit in India.
The company has 450 machines which can produce up to three lakh metres of fabric per day. It employs around 300 people. Simultaneously, the company is into garment manufacturing, mainly board shorts (used for surfing), walk shorts, shirts and outer wear. These products are exported to the US and European markets. World Textile Group achieved a turnover of $35 million in 2014. It is looking at a growth 30-35 percent for next year. They also have their own brand Dunkelvolk, which was launched in 2012. They have 15 stores in East China, besides presence in five eCommerce portals like Alibaba. Indian garment exports rose 14.6 per cent to $14 billion during January-October 2014. In contrast, export volumes from China were 6.5 per cent higher at $145 billion, which in value terms was 10 times higher, according to UN Comtrade data.
SOURCE: Yarns&Fibers
Philippine textile industry at its peak had huge, fully integrated textile mills that did everything –spinning, weaving, knitting, dyeing. It produced and exported garments under a system that used quotas. But problems came into the textile industry with the advent of cheap textile imports, the abuse of the quota system (entities with no mills had quotas allowing them to bring in raw materials, real mills had none) and with low prices combined with high wages, there was a general shutdown.
But Philippine textile industry slowly come back to life using a different business plant. Some of the textile mills re-invented themselves and with the help of the Philippine Textile Research Institute (PTRI) new technology enhance the textiles towards a higher quality that makes for niche markets. Now there is a healthy export of undergarments, sportswear, socks, basically niche markets.
The PTRI celebrated its 48th anniversary early this year with a textile conference–”Philippine Textiles: The Future Today.” With the help of PTRI new technology, there will be more to come. Mills renovated themselves by forming a tripartite partnership consisting of the textile industry, Labor and Government (the Department of Labor). Through dialogue among themselves they came up with a better co-existence between Management and Labor giving them the push towards doing better. Meanwhile PTRI (an agency under the Department of Science and Technology) has provided the mills with nano technology ie. technical innovations. The Philippines has an abundance of natural fibers like abaca, piña, tnalak, bamboo, waterlily, etc. which are much in demand among textile users.
With the use of nano technology that makes them softer, more pliable as well as resistant to water, fire, stains, static, even bacteria, they become unique textiles that are much in demand in the market. These technologically sophisticated products are for niche markets not mass production which means they are specialized and receive higher returns. One interesting textile innovation resulting in a new textile is called primatex which is a natural fiber constructed from ordinary pineapple leaves, the leaves left behind by the harvest of the pineapple fruit. These leaves are not to be confused with the source of piña fiber, the Spanish Red Pineapple plant. Rather, they are the detritus left behind in ordinary pineapple fields like the ones in Tagaytay or Camarines Norte. The leaves are processed through decorticating and degumming them to produce fibers that are then woven by a machine into a leatherette-like textile called piñatex that is environmentally friendly being the byproduct of pineapple plantation waste of which only 5% is wasted compared to 25% waste in real leather production. Piñatex can be used for clothing, insulation, anti-bacterial material and even wound dressing for its breathable, natural characteristics. It also gives pineapple farmers that much added income now that the leaves are useful.
Another new textile is abaca denim which with a new process produces a pliable and durable material good for jeans and other clothing items. This latter process was done in Japan when a Japanese agency was working with abaca farmers and experimented on how to make more use of the material. It has since been brought to our textile industry and is now in full production giving abaca farmers a new market for their natural fiber. Other news from the conference is that Filipino clothing brands can stand up to global brands in the malls and markets here by emphasizing their Filipino identity and delivering quality. One brand Unica Hija recounted how it went back to basics by concentrating on their customers’ preferences when faced with global brands.
They found out that customers actually prefer to buy local if it offers value for money. It made them focus on their merchandise and discern that quality would win over price. So, they use the best fabrics, improve workmanship, maintain high standards and pay the price for it. The latter means they invested in Philippine labor, paid the wages it wanted and got labor to deliver quality workmanship and world class merchandise. Their goal is to come up with 90% Philippine content in the near future as well as continue to emphasize Filipino identity in their products. In all of the above, PTRI nano technology for textiles will help. PTRI is also focusing on handloom textiles, a precious traditional heritage all over the country, by being pro-active in promoting handloom products. They plan to target five general provinces in three main regions by putting up 10 centers for handloom production and innovation using natural fibers from abaca, pineapple, silk, cotton, bamboo, waterlily, including synthetics like PET (polyester from plastic bottles) where they will have handlooms for weaving, use of natural dyes and nano technology. Another goal that PTRI is aiming for is to produce enough material from our variety of natural fibers to fully implement RA 1942, the law mandating the use of our native fibers in government office uniforms. It was really stimulating to hear all of the above and see how government agencies, like PTRI and DOST, have taken charge of enhancing the textile industry
SOURCE: Yarns&Fibers
Majority of buyers remained busy dealing in fine lint grades as trading remained range bound in cotton market. They made deals for immediate use and fine grades sellers were in driving seat due to paucity of stuff while KCA remained busy taking steps to provide maximum benefit to the weak stakeholders to capitalize maximum on their stuff, floor brokers said on Thursday.
During trading session in all stations of Sindh and Punjab, buyers made deals for all grades. The stakeholders in Punjab stations remained eager for fine grades for producing better end products but power outages and load shedding in textile and ginning units slowed down production capacity. Majority of buyers and sellers remained quality conscious, however deals changed hands for all grades on competitive price in Sindh and Punjab stations at around Rs 4,950 per maund to Rs 5,075 per maund while production of the lint in the ginneries of Sindh and Punjab remained moderate at around 3,900 bales.
According to fibre analyst Shakeel Ahmad, leading buyers were still eyeing on fine grades, while mills bought fine grades on competitive price. Power and gas shortage disrupted economic activity at textile and ginning units therefore the cotton trading in major areas remained dull, he added. The general prices of all grades remained on firm footings on daily basis, as deals also changed hands around at Rs 5,000 per maund to Rs 5,075 per maund. The sellers withholding fine grades in some trading stations were asking slightly higher price as some deals changed hands at Rs 5,200 per maund.
In Punjab and Sindh stations leading buyers made deals for fine grade at around Rs 5,100 per maund to Rs 5,125 per maund on back of growing demand of end product, he added. The secondary buyers made deals for second grades for blending purposes at around Rs 4,925 per maund to Rs 4,975 per maund while the raw grade stuff was available at around Rs 4,900 depending on trash level. Private sector commercial exporters in Sindh and Punjab stations made deals for all grades as deals changed hands at around Rs 4,900 per maund to Rs 4,950 per maund. More than 300 bales changed hands with more than 60 percent of Punjab’s share in trading. Karachi Cotton Association (KCA) kept spot rate at Rs 5,000 per maund, traders said. On global front, New York market May 2015 Futures remained under correction and stood at around 61 cents per pound. Cotlook A index was hovering around 69 cents per pound.
SOURCE: Yarns&Fibers
The Moroccan Association of Textile and Clothing (AMITH) is an important player in the Moroccan economy with more than 850 members has entered into a performance agreement as per the terms the textile industry to increase exports to 464 million and is also committed to create 90,000 jobs by 2020. The agreement was signed at the end of February. The agreement was signed in the framework of the 2014 -2020 industrial Acceleration Plan, launched in April 2014. A total of 57 projects led by industry-leading companies were identified and the sector has also pledged to increase exports.
In return, to help fulfill its objectives, the State agrees to rent to the 95 hectares sector operators at preferential prices and provide subsidy – without specifying what amount – through the Industrial Development Fund will be endowed with € 1.8 billion. This performance contract was signed a few days before the recent skirmish between AMITH and the High Commission for Planning (HCP), around the figures of employment in textiles. About 37,000 jobs lost by the industry in 2014, 32,000 jobs are the fact of a textile according to the HCP. Information is quickly contradicted by AMITH ensuring that the sector is doing well. After a growth of 8% per annum during the 90s, the Moroccan textile and clothing is in decline since the early 2000s, partly because of the tough competition from China.
SOURCE: YarnsandFibers
All Pakistan Textile Mills Association (APTMA) has urged the government to ensure uninterrupted energy supply ahead of summer to textile industry in Punjab having witnessed a decline of 13 percent month-on-month basis as per the overall exports data for February 2015. According to Aptma Chairman S M Tanveer, high cost of production is rendering textile industry uncompetitive in the international market place. Moreover, the competitors are being supported by government in terms of incentives, which is taking away Pakistan’ share in international market.
Around 35 percent of textile export was exposed to euro, which has appreciated heavily. In addition, industry has not been passed on the benefits of falling oil prices to date. Also, utility charges are the same as before rather being tipped to be raised with effect from April.
The government has been also urged to issue instruments like TUFS, DLTL, duty structure on man-made fiber and State Bank of Pakistan schemes under recently-announced textile policy at the earliest to hold dwindling viability of textile industry.
SOURCE: YarnsandFibers
Close to the country's capital, MetaWear has just launched the nation's first solar and geothermal-powered operation providing cutting, sewing, dyeing, and screen-printing certified organic cotton t-shirts. This cutting-edge sustainable style manufacturer — which uses seaweed-based inks with no toxic inputs, and pays its staff a livable wage — was recently certified to the world's standard for the processing of organic textiles – the Global Organic Textile Standard (GOTS). MetaWear is the first and only U.S.-based GOTS factory of its kind.
GOTS, the textile industry's counterpart to the U.S. Department of Agriculture's organic food standard, covers the growing, processing, manufacturing, packaging, labeling, trading and distribution of all textiles made from at least 70 percent certified organic fiber. As with organic food standards, a textile product carrying the GOTS organic seal must contain a minimum of 95 percent certified organic fibers, while a product with the "made with organic" label must contain a minimum of 70 percent certified organic fiber. GOTS-certified textiles are free of pesticides, GMOs, formaldehyde, chlorine bleaches, heavy metals and other chemicals detrimental to humans and the environment but typically used in conventional cotton t-shirts and textiles.
"MetaWear is extremely proud to be paving the way for today's textile industry here in the US. We adhere to the most stringent global processing standards, and offer earth-conscious, socially responsible, and flawlessly-fitting screen-printed apparel — perfect for promoting companies' brands and messages," says Marci Zaroff, ECOfashion pioneer and MetaWear co-founder and president.
MetaWear, located in a refurbished Verizon facility in Fairfax, Va., makes its promotional custom T-shirts for men and women using Fair Trade-certified organic cotton. In addition, the company uses "SeaInk," a proprietary dye process that uses a seaweed-derived base with no harmful inputs including PVC, resins, or binders. "With SeaInk, MetaWear can avoid the harmful impact of standard dyes without sacrificing color vibrancy," says CAS Shiver, MetaWear co-founder and technical mastermind behind the ink development as well as the solar and geothermal energy practices the company employs.
In addition to being GOTS-certified, MetaWear produced the world's first Cradle-to-Cradle Certified fashion T-shirt for leading lifestyle brand Under the Canopy — also founded by Zaroff. This t-shirt was unveiled at the Cradle-to-Cradle Innovation Institute's recent "Fashion Positive" launch, celebrating its newest program dedicated to the circular economy. The five categories of focus for C2C Certification include material health, material reuse, renewable energy, water stewardship and social justice.
"I am approached regularly by organizations seeking sustainable, domestically made solutions to their t-shirt needs," says Zaroff. "Authenticity and transparency in the supply chain add value, and cheap, toxic T-shirts are no longer seen as acceptable. The days of conventional GMO cotton, plasticol inks, hazardous dyes, and exploited workers are over. Today's smart businesses want to make choices that resonate with their core values." As a result, MetaWear provides GOTS-certified T-shirts to numerous organic food and beauty companies, and has just partnered with the Organic Trade Association (OTA), where Marci serves on the Board of Directors. OTA members receive a 10 percent discount on screen-printed organic cotton T-shirts and in return, MetaWear donates a portion of the total sales to OTA. "MetaWear is on its way to revolutionizing the USA textile industry one GOTS-certified organic T-shirt at a time," states Zaroff.
SOURCE: The Apparel Edge
