COVID-19 has affected the global market conditions but has also opened up new vistas for the Indian textile industry to gain market share of China in the developed world, especially the EU and the US said, Ravi Capoor, Secretary, Ministry of Textiles, Govt of India. Addressing the inaugural session of the three-day 'GLOBIZ - Global Textile & Home Furnishing Expo', organized by FICCI, Capoor on Wednesday said that this is the most promising time for the textile industry in India due to strong consumption in the domestic market as well as the growing demand for exports. "Various countries are looking at Indian markets and it's the time to gear up supply chains, quality and deliver at the promised schedules, which will enable India to become a market leader," he added. Capoor also urged the industry to work towards tapping the unexplored global markets. "We are concentrated on a few markets only. We should expand in the markets where India was never present and virtual Shows like GLOBIZ help to do that. This is the time for the textile industry to increase its market share and take advantage of the international markets," he added. He further said that all stakeholders including FICCI should plan a huge outreach program in new areas like the LAC, Japan etc. "There are challenges in the apparel industry, but the home furnishing sector has the potential to almost double its exports within two years," he noted. Elaborating on the government's plan to promote the sector, Capoor shared that the Textile Ministry is planning a 'Textile India Fair' which will be the largest virtual fair globally, with over 30,000 buyers expected from different countries.
Source: Knn India
Finance Minister Nirmala Sitharaman on Friday said the GST Council will arrive at a common ground on ways to compensate states for loss of revenue, amid opposition charge that the Centre is reneging on its promise of paying compensation. Replying to a debate on supplementary demands for grants in the Lok Sabha, Sitharaman said she will honour the commitments made by her predecessor Arun Jaitley with regard to the Goods and Services Tax (GST) compensation payout. "Even if we are in an act of God situation, but we will discuss in the Council how to give compensation to the states... The Council will take a call on how to borrow to meet the (revenue) gap," she said. The minister, however, ruled out funding the revenue shortfall from the consolidated fund of India, saying the amount has to be paid from the compensation cess kitty. The states are staring at a Rs 2.35 lakh crore GST revenue shortfall this fiscal. Of this, as per the Centre's calculation, Rs 97,000 crore is estimated to be on account of GST implementation, while the remaining Rs 1.38 lakh crore is due to the COVID-19 pandemic. The Centre late last month gave two options to states to borrow either Rs 97,000 crore from a special window facilitated by the RBI, or Rs 2.35 lakh crore from the market and also proposed extending the compensation cess levied on luxury, demerit and sin goods beyond 2022 to repay the borrowing. On the opposition charge that the government is reneging on its commitment of compensation payment by terming COVID-19 an 'act of God', Sitharaman said, "It is a irresponsible comment towards a responsible government, led by Prime Minister Narendra Modi." Chief Ministers of six non-BJP ruled states -- West Bengal, Kerala, Delhi, Telangana, Chhattisgarh and Tamil Nadu -- have written to the Centre opposing the options which require states to borrow to meet the GST shortfall. Sitharaman further said, "We are ready to discuss. We are taking everyone together and Council will find a view. This is my optimistic expectation. The Centre is not reneging (from its commitment)."
Taking on the opposition for ridiculing her remark that COVID-19 is an'act of God', she said it would have been acceptable if she had said 'force majeure'. She said the Centre has given states their due share in devolution even at the time of COVID-19 when the Centre's finances are stressed. Without naming the UK, the minister said a nation which has given 15 per cent fiscal stimulus is now planning to raise taxes. "We are not contemplating on increasing taxes to make up for what we gave (as stimulus)," Sitharaman said.
Source: Business Standard
The Directorate General of Trade Remedies under the ministry of commerce and industry, Government of India, has initiated an anti-dumping investigation concerning imports of sodium hydrosulphite originating in or exported from China and South Korea. Sodium hydrosulphite is used in diverse industrial sectors including textiles and as a reducing agent. Sodium hydrosulphite, whether produced using zinc or sodium formate, is also known as hydrosulphite concentrate or sodium dithionite or sodium hydrosulfite or SHS. It is a white or grayish white powder, free from visible foreign particles with pungent odour. It is classified under Chapter 28 of the Customs Tariff Act, 1975, under the custom code 28311010 and 28321020. The period of investigation is 12 months from April 1, 2019 to March 31, 2020. The injury period of investigation will, however, cover the periods 2016-17, 2017-18, 2018-19 and 2019-20.
Source: Fibre2fahion
In a free trade agreement, two trading partners either significantly reduce or eliminate customs duties on maximum number of goods traded between them. India is engaging with the 10-member ASEAN to review the free trade agreement, Parliament was informed on Friday.In a written reply in the Rajya Sabha, Commerce and Industry Minister Piyush Goyal said in the India-ASEAN Economic Ministers Consultations held on August 29, both sides instructed the senior officials to engage to determine the scope of the review. Free trade agreements (FTAs) essentially involve mutual concessions between the parties. “Provisions are envisaged to periodically address any gaps, shortcomings and imbalance. India proposes to suitably use these provisions,” he said. In a free trade agreement, two trading partners either significantly reduce or eliminate customs duties on maximum number of goods traded between them. “Government of India is engaging with ASEAN to review the FTA in accordance with related provisions of the agreement,” he said. The ASEAN-India Trade in Goods Agreement was signed on August 13, 2009. It came into force on January 1, 2010. The Association of Southeast Asian Nations (ASEAN) members are — Indonesia, Thailand, Singapore, Malaysia, the Philippines, Vietnam, Myanmar, Cambodia, Brunei and Laos.
Source: Financial Express
Many multinational companies have shown interest to shift base to India across various sectors such as electronics, retail, e-commerce, automotive, food processing, textiles, etc, commerce minister Piyush Goyal today said in a reply to a question in Rajya Sabha. However, he did not disclose the reasons for the relocation of operations due to the sensitivity of information maintained by the companies. Piyush Goyal added that FDI inflows usually help in augmenting domestic capital and promote employment opportunities across sectors. He apprised the house that the FDI inflow from the USA and other countries in the last fiscal year was $74.39 billion and for April–July 2020, it is $16.26 billion. As various countries are looking forward to shifting their base out of China after the pandemic emerged, India has been consistently trying to take this as an opportunity and lure the foreign companies to invest in India. The government in April reached out to more than 1,000 companies in the US and through overseas missions to offer incentives for manufacturers seeking to move out of China, Bloomberg had reported citing Indian officials who asked not to be identified. Piyush Goyal also said that the government is working hard to institutionalize more investor-friendly reforms to support and facilitate investments into India. He added that several steps like Production Investment Schemes, GIS mapping of available land banks, issuance of Quality Control Orders to cut down cheap imports, and many such measures have been put into place to attract further investment into the country. Meanwhile, the commerce minister last week said that other countries must give India equal access to their markets. He underlined that trade relations between two countries rest on the pedestal of high reciprocity and equilibrium, and more countries are moving towards balanced trade. He assured the foreign firms that they will not only get a large Indian market but can also leverage the market to get economies of scale.
Source: Financial Express
New Delhi [India], September 18 (ANI): To promote technical textiles in the country, the Central government has approved the proposal for the creation of the National Technical Textiles Mission (NTTM) for a period of 4 years (2020-21 to 2023-24) with an outlay of Rs 1,480 crore, said Union Minister of Textiles Smriti Irani in Lok Sabha on Friday. While replying to a question--whether any steps have been taken by the Government to promote the technical textile sector in the country ?--asked by Bharatiya Janata Party (BJP) MP from Ujjain Anil Firojiya, Textile Minister in a written reply stated that the distribution of funds will be Rs 1,000 crore for Research Innovation and Development, Rs 50 crore for promotion and market development, Rs 400 crore for education, training and skilling and Rs 10 crore for export promotion and balance Rs 20 crores for administrative expenses. According to an official release, the focus of the Mission is for developing on the usage of technical textiles in various flagship missions, programmes of the country including strategic sectors. The mission shall work for holistic development of entire technical textile sector on pan-India basis. "The focus of the mission will be on the use of technical textiles in agriculture, aquaculture, dairy, poultry, etc. Jal Jivan Mission; Swachch Bharat Mission; Ayushman Bharat will bring an overall improvement in cost economy, water and soil conservation, better agricultural productivity and higher income to farmers per acre of land holding in addition to promotion of manufacturing and exports activities in India. The use of geo-textiles in highways, railways and ports will result in robust infrastructure, reduced maintenance cost and higher life cycle of the infrastructure assets," an official release stated. "Promotion of innovation amongst young engineering /technology/ science graduates is proposed to be taken up by the mission along with creation of innovation and incubation centres and promotion of 'start-up' and ventures'. The research output will be reposited with a 'Trust' with the government for easy and assessable proliferation of the knowledge thus gained through research innovation and development activities," it stated. A sub-component of the research will focus on the development of biodegradable technical textiles materials, particularly for agro-textiles, geotextiles and medical textiles. It will also develop suitable equipment for environmentally sustainable disposal of used technical textiles, with emphasis on safe disposal of medical and hygiene wastes. There is another important sub-component in the research activity aiming at development of indigenous machineries and process equipment for technical textiles, in order to promote 'Make In India' and enable competitiveness of the industry by way of reduced capital costs. Six courses on for skill development in Technical Textiles sector have been on-boarded on National Skills Qualifications Framework (NSQF) for providing training in the sector, the release said. A technical textile is a textile manufactured for non-aesthetic purposes such as automotive applications, medical textiles, geotextiles, agro-textiles, and protective clothing. (ANI)
Source: Business World
Finance Minister Nirmala Sitharaman on Friday said that bulk of the additional spending sought in the first batch of the supplementary demands for grants would be spend on people-centric schemes to help them amid the coronavirus pandemic. The minister also said that probably for the first time the government has sought such a huge amount in the first batch of the supplementary demands for grants.Later, Lok Sabha approved the supplementary demands for additional spending of Rs 2.35 trillion, which include a cash outgo of Rs 1.66 trillion, primarily to meet expenses for combating the Covid-19 pandemic. The minister said the government has sought Rs 40,000 crore towards MNREGA, thus taking the total outgo towards Rs 1 trillion, the highest so far. The budget for 2020-21 has earmarked about Rs 61,500 crore for MNREGA. Besides MNREGA, the allocations are being increased for people-centric schemes like PM Garib Kalyan Yojana and other social welfare schemes, Sitharaman added. Further, she said that because of the digital initiatives of the Prime Minister, now it has become possible to send money directly into the accounts of poor people. According to the minister, large increase in the number of demat accounts opened in recent months was a reflection of the faith of people in the economy. Regarding GST compensation to the states, the minister said that the Centre was not reneging from its responsibility and that the matter will be discussed in the GST Council.
Source: Business Standard
Beginning Monday, importers need to furnish proof of 35 per cent value addition in goods from the country of origin to claim duty concession under free trade agreements (FTAs). Without that, they will not get benefits, said a finance ministry official. While the move is aimed at plugging duty evasion through routing exports to India under FTAs, industry fears it will result in a compliance burden. According to the official, just a certificate by the exporter would not suffice. It will be the importer’s responsibility to ensure value addition has been done. A provision was incorporated into the Customs Act during the budget session of Parliament in February this year, on verifying rules of origin of imports under FTAs. The rules in implementing this were issued last month. The Customs department will now step up its inspection of imports of mobiles, white goods, set-top boxes, cameras and other electronic products, and agarbattis from countries with which India has FTAs. In addition, the goods must undergo some appreciable transformation (as prescribed for products separately in the FTA by way of product-specific criteria). For example, if a mobile is exported from Indonesia to India, it would qualify to be of Indonesian origin only if it is made significantly there and 35 per cent of its FoB (free on board) value is the Southeast Asian country’s contribution, the official said. The new rules will be a change from the present ones by which a “country of origin” certificate, issued by a notified agency in the country of export, is produced by the importer, who has no additional obligation even though he claims substantial benefit. But industry says importers may not get the required documents from exporters. Harpreet Singh, partner, KPMG, said: “With these rules, onerous obligations are cast upon importers. To name a few, submitting multiple documents, giving undertakings, correctly filling up forms, possessing relevant information etc. are some of the key requirements.” This may entail insights into the manufacturing process, which the Indian importer may not have. Ajay Sahai, director general and chief executive officer, Federation of Indian Export Organisations (FIEO), said while broadly the new rules should not result in delay in clearing shipments, it needed to be seen how it was operated. “In some cases, exporters may not like to provide additional detailed documents the customs authorities ask for,” said Sahai. Finance ministry sources said misuse had been rising for the past few years. Domestic industry, suspecting foul play, has repeatedly asked the government to review FTAs and take action. Finance ministry officials said FTAs were expected to be mutually beneficial to all partner countries, but this was not the case. “While India’s exports to FTA partners remain almost flat, imports have risen rapidly, widening the trade deficit,” the official said.In the case of Asean (Association of Southeast Asian Nations), the merchandise trade gap had risen from $5 billion in 2010, when the Asean FTA was implemented, to more than $22 billion at present. “Our merchandise trade surplus with Vietnam and Singapore has reversed in the past three to four years. From a surplus of $2 billion with Vietnam, at the start of the FTA in 2010, India now has a trade deficit of about $3 billion with it,” a source said. The same is the case with Singapore and the trade deficit with the country stands at more than $4 billion. The trade gap has also widened with Malaysia, Thailand, and Indonesia. An investigation has found that TVs, mobiles, set-top boxes, telecom network products, and metals from FTA countries did not meet the prescribed origin criterion. Last year, the Directorate of Revenue Intelligence detected a large-scale fraud by which areca nut from a non-FTA country was imported into India from an FTA partner, duly covered by incorrect certificates of origin. Over the past five years, the Customs authorities have detected fraudulent claims of Rs 1,200 crore.
Source: Business Standard
The Government is implementing Scheme for Integrated Textile Park (SITP) which is demand driven and it provides support for creation of world-class infrastructure facilities for setting up of textile units, with a Government of India grant upto 40% of the project cost and Government of India grant upto 90% of the project cost for first two projects (each) in the States of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Tripura, Sikkim, Himachal Pradesh, Uttarakhand and Union Territory of Jammu & Kashmir and Union Territory of Ladakh; with ceiling limit of Rs. 40.00 crores for each textile park. The Special Purpose Vehicle (SPV) formed by the representatives of local industry, Financial Institutions, State Industrial and Infrastructural Corporations and other agencies of State and Central Governments registered as a Corporate Body under Companies Act would submit their proposal directly to the Ministry for consideration. SITP is thus a demand driven scheme. No representation is pending from Textile ‘Industry’ Federation from any State for development of textile industry and textile parks in their State. Further, the proposal to set up Mega Textile Parks by the Ministry of Textiles is at the stage of discussion. The details of programmes initiated by Government to boost the textile industry and the incentives given for textile workers are placed below:-
Source: PIB
A few days ago, Ministry of Micro Small and Medium Enterprises (MSME), had announced expanding and doubling the support to Artisans who might be interested in making Agarbatti. Taking these efforts further, the Ministry has now come out with new guidelines for two more schemes which include ‘Pottery Activity’ and ‘Beekeeping Activity'. These new initiatives of the Ministry with beneficiary oriented Self-Employment schemes, are aimed at rejuvenating the grass root economy contributing to AtmaNirbhar Bharat Abhiyan. For ‘Pottery Activity’ Government will provide assistance of pottery wheel, Clay Blunger, Granulator etc. It will also provide Wheel Pottery Training for traditional pottery artisans and Press Pottery training for pottery as well as non-pottery artisans in Self Help Groups. There is also provision to provide Jigger-Jolly training programme for pottery as well as non-pottery artisan in Self Help Groups. This is being done:
• In order to enhance the production, technical knowhow of pottery artisans and to develop new products at reduced costs;
• To enhance the income of pottery artisans through training and modern / automated equipment; • To provide skill-development to SHGs of pottery-artisans on focused /decorative products, with new pottery designs; • To encourage the successful traditional potter to set up unit under PMEGP scheme;
• To develop necessary market linkages by tying up with exports and large buying houses;
• To innovate new products and raw materials to make international scale pottery in the country
• Preparing them to graduate from pottery to crockery and
• Trainer's training programme for skilled pottery artisans who want to work as Master Trainers. In case of the POTTERY improvements in the Scheme are :
• In order to create sustainable employment for the beekeepers / farmers; • To provide supplementary income for beekeepers / farmers; • To create awareness about Honey and other Hive Products; • To help artisans adopt scientific Beekeeping & Management practices; • To utilize available natural resources in beekeeping; • To create awareness about the benefits of beekeeping in cross pollination. Ministry officials said that in addition to creating additional income sources through these employment opportunities, the ultimate objective is to make India self-sufficient in these products and also to eventually capture the export markets. As Improvements in Scheme for BEEKEEPING are : - To increase the earnings of the artisans, value addition to the honey products proposed. - facilitating adoption of scientific Beekeeping & Management practices - Aiming to provide help in enhancing exports of honey based products To begin with, Scheme proposes to cover, during 2020-21, a total of 2050 Beekeepers, Entrepreneurs, Farmers, Unemployed Youth, Adivasis will get benefitted from these projects/programme. For this purpose a financial support of Rs.13.00 crore during 2020- 21 has been provisioned to support 2050 artisans ( 1250 people from Self Help Groups and 800 Migrant labourers), with a Centre of Excellence with CSIR/ IIT Or other Top class Institute to develop honey based new value added products. Additional amount of Rs. 50.00 crore has also been kept for developing Beekeeping honey clusters under the ' SFURTI scheme of the Ministry. Detailed guidelines for these Schemes in English and Hindi have been put on the Ministry's websites. The same are also being circulated through social media outreach. It may be recalled that the initiative to rejuvenate Agarbatti making at grass-root level fe days back, is a step which also directed towards make India AatmNirbhar in supply of this household consumption item. The interventions include the support to the artisans through training, raw material, innovation in the fragrance & packaging, use of new / alternate raw materials, marketing and financial support. The program will immediately benefit about 1500 artisans, in providing sustainable employment with increased earnings. Artisans living in rural areas, Self Help Groups (SHGs) and ‘Migrant workers’ will particularly benefit from the program. In addition to enhancing employment opportunities locally, the programme will also help in capturing the export market in such products.
Source: PIB
The Government of India, Ministry of Textiles is implementing National Handloom Development Programme(NHDP) and Comprehensive Handloom Cluster Development Scheme(CHCDS), wherein there is provision under Block Level Cluster(BLC) for setting up of Common Facility Centres(CFCs) for housing the technical facilities to meet the local requirements of weavers. This may include loom shed for skill up-gradation/sample development/production etc., warping, dyeing, yarn depot, store room etc. Design layout of the CFC, if required may be partially modified to meet local requirement. CFC should have built-up area of about 3,000 sq. ft. (may be in single/double floors) with an estimated cost of not more than Rs.50.00 lakh (including a Common Service Centre), excluding land cost. This facility may also be set up by gap filling in the existing infrastructure available in the identified Block. Implementing Agency may have their own land or taken on lease from Government/Government agency for atleast 15 years. Proposals are submitted by the Implementing Agency through the State government and based on recommendations of State Government, they are examined and if approved, funds are released directly to the Implementing Agencies. For setting up of CFC, funds for construction are released to the Central or State Government agency, which have to follow transparent bidding process to engage the contractor. Machines and equipments to be installed in CFC with their cost and suppliers are finalised by the local Committee, chaired by the Office In-charge of Weavers’ Service Centre with representative of State Director of Handlooms and Cluster Implementing Agency. Funds are sanctioned as budgetary provision to the Weavers Service Centre for purchase of machines and equipment’s. Following Agencies/Entities are eligible to be Implementing Agencies:
Source: PIB
Last month, the tweet by my best friend about a man in Bihar who makes cloth masks went viral. The man was at first so flummoxed by the flood of phonecalls from people who wanted to order that he switched off his phone, leading to accusations that he was a fraud. He finally got the courage to resurface and respond after a week, and now his whole village has been pressed into fulfilling the orders. But not everyone is so lucky. This week Union Textiles Minister Smriti Irani said in a written reply to the Rajya Sabha that almost 70% the 31.4 lakh handloom worker households in India earn less than Rs 5,000 a month as per the 4th All India Handloom Census 2019-2020. Households, not each worker. A decade ago, that figure was an even more abysmal 99%. That is truly a damning statistic, given that India has been known worldwide for millennia for our fine handwoven textiles. Another telling figure is that in the decade since the last such census, the number of households engaged in the sector has risen from 27.8 lakh to 31.4 lakh, while at the same time India’s population has increased by 17 crore. Clearly handloom is not seen as a very lucrative profession by too many people even though many handloom revivalists and textile designers have stepped in to help weavers innovate and upgrade their products. And the reason is apparent. Handloom had become a preserve of the elite, and those relatively better off by the 1980s. And when liberalisation brought in international brands, daily wear for a crucial section of consumers, especially the younger ones, shifted to western apparel. Traditional Indian clothes—the lifeblood of spinners, weavers, dyers, printers and even tailors—were relegated to a category I consider condescending: “ethnic”. Most of us will immediately blame the government for this dismal state of the handloom sector. After all, inefficiency, sloth and corruption is endemic in all government programmes. But there is a bigger culprit. Us. A quick survey of the daily wear of most Indians today would reveal that very little of it is handloom. There are many excuses: ‘ethnic’ wear is not suited to today’s lifestyle, they are hard to maintain, they are expensive. While the first gripe is debatable, the other two are certainly true. Handlooms often mean handwash too, as certain colours run and weave and seams can get warped by the rigours of machine rotations. And good handloom—whether cotton, silk or wool—can be very expensive. But then, what skilled “hand” work is cheap these days? Hair styling? Food? Carpentry? Surgery? We are willing to pay for those, but not handloom products. We are often wary of middlemen too, especially when buying handlooms in cities. Getting sarees or yardage “directly” from weavers is seen as more virtuous, though the lower pricetag factor cannot be denied. Getting a weaver’s mobile number and placing orders was the new lockdown ‘thing’. Of course there was no way to verify whether the voice at the other end was a weaver or a middleman unless an NGO certified their bonafides. Government should do more for handloom, no doubt. But technologists also need to resolve ‘maintenance’ issues, designers and brands need to rethink how handloom and everyday fashion can go hand-in-hand. And we need to understand and respect the skill and dignity of the people who put their heart and soul into handloom products—like the man and village behind the cloth masks. Only then will India’s great textile legacy survive.
Source: Economic Times
Finance Minister Nirmala Sitharman on Friday said that the majority of the additional resources in the first batch of the Supplementary Demands for Grants would be spent on people-centric schemes amid the coronavirus pandemic. In her reply to the debate on the Supplementary Demands for Grants for 2020-21 and the Demands for Excess Grants for 2016-17 in the Lok Sabha, she said it is probably for the first time that the government has sought such a huge amount in the first batch of the Supplementary Demands for Grants. Late on Friday evening, the Lok Sabha approved the supplementary demands for additional spending of Rs 2.35 lakh crore, including a cash outgo of Rs 1.66 lakh crore.The Centre has sought Rs 40,000 crore for providing grants for the creation of capital assets under the Mahatma Gandhi National Rural Employment Guarantee Scheme and for the transfer of funds to the National Employment Guarantee Fund. It has sought an additional expenditure of Rs 30,956.98 crore for providing Grants-in-Aid General for Direct Benefit Transfer to Pradhan Mantri Jan Dhan Yojana's women bank account holders. Further, to meet the expenditure towards recapitalisation of the Public Sector Banks through the issue of government securities, it has sought an approval for the expenditure of Rs 20,000 crore. Approval for expenditure of Rs 4,000 crore has been sought for meeting an additional expenditure towards Grants-in-Aid General to National Credit Guarantee Trustee Company Ltd (NCGTC) for the Guarantee Emergency Credit Line (GECL) facility to eligible MSME borrowers. The first batch of Supplementary Demands for Grants for financial year 2020-21, among other things, included a sum of Rs 46,602.43 crore required for providing additional allocations under the Post-Devolution Revenue Deficit Grant (Rs 44,340 crore) and Grants-in-Aid General for States Disaster Response Fund (Rs 2,262.43 crore) as per the accepted recommendations for the 15th Finance Commission. The government expenses have increased of late and are likely to increase further due to the coronavirus pandemic and the eventual economic slowdown.
Source: Business Standard
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
804.09 |
USD/Ton |
0% |
19-09-2020 |
|
VSF |
1315.51 |
USD/Ton |
0% |
19-09-2020 |
|
ASF |
1745.64 |
USD/Ton |
0% |
19-09-2020 |
|
Polyester POY |
731.66 |
USD/Ton |
0% |
19-09-2020 |
|
Nylon FDY |
1995.44 |
USD/Ton |
0% |
19-09-2020 |
|
40D Spandex |
4242.15 |
USD/Ton |
0.70% |
19-09-2020 |
|
Nylon POY |
2239.32 |
USD/Ton |
0% |
19-09-2020 |
|
Acrylic Top 3D |
5321.16 |
USD/Ton |
0% |
19-09-2020 |
|
Polyester FDY |
953.37 |
USD/Ton |
0% |
19-09-2020 |
|
Nylon DTY |
1862.41 |
USD/Ton |
0% |
19-09-2020 |
|
Viscose Long Filament |
1921.53 |
USD/Ton |
0% |
19-09-2020 |
|
Polyester DTY |
901.64 |
USD/Ton |
0% |
19-09-2020 |
|
30S Spun Rayon Yarn |
1778.15 |
USD/Ton |
0% |
19-09-2020 |
|
32S Polyester Yarn |
1396.80 |
USD/Ton |
0% |
19-09-2020 |
|
45S T/C Yarn |
2231.93 |
USD/Ton |
0% |
19-09-2020 |
|
40S Rayon Yarn |
1566.79 |
USD/Ton |
0% |
19-09-2020 |
|
T/R Yarn 65/35 32S |
2098.90 |
USD/Ton |
0% |
19-09-2020 |
|
45S Polyester Yarn |
1936.31 |
USD/Ton |
0% |
19-09-2020 |
|
T/C Yarn 65/35 32S |
1721.99 |
USD/Ton |
0% |
19-09-2020 |
|
10S Denim Fabric |
1.16 |
USD/Meter |
0% |
19-09-2020 |
|
32S Twill Fabric |
0.65 |
USD/Meter |
0% |
19-09-2020 |
|
40S Combed Poplin |
0.95 |
USD/Meter |
0% |
19-09-2020 |
|
30S Rayon Fabric |
0.48 |
USD/Meter |
0% |
19-09-2020 |
|
45S T/C Fabric |
0.67 |
USD/Meter |
0% |
19-09-2020 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.14781 USD dtd. 19/09/2020). The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
4.3 per cent dip in services trade in first quarter of 2020 was not as much as earlier anticipated Despite losing momentum, global trade in commercial services is showing signs of resilience and has fared batter than merchandise trade, the World Trade Organization (WTO) has said. While services trade fell 4.3 per cent in the first quarter of 2020 after the coronavirus pandemic appeared on the global stage, the decline was smaller than the WTO had feared earlier. The global body’s Services Trade Barometer (STB), launched exactly a year back, on Thursday showed a latest reading of 95.6, suggesting a lesser than feared slowdown. Readings of 100 indicate growth in line with medium-term trends, while readings greater than and below 100 indicate above-trend and below-trend growth, respectively. The direction of change reflects momentum compared to the previous month. The barometer is part of the WTO’s efforts to develop new insights into services trade and is released twice annually. The services trade activity index, which provides an approximate measure of the volume of world services trade, registered a year-on-year decline of 4.3 per cent in the first quarter of 2020. "While substantial, this decline is smaller than those seen during the financial crisis over a decade ago, when services trade fell by 5.1 per cent in the first quarter of 2009 compared to the previous year before registering an even bigger 8.9 per cent slump in the second quarter," the global body said. Services trade growth had been slowing in the second half of 2019, and the recent contraction in services trade reflects a weakening pace of global economic growth as well as the early stages of the Covid-19 pandemic. While the index is expected to remain below trend into the second half of the year, a recovery in passenger air transport would make a powerful contribution to a turnaround. Declines in most of the component indices drove the first quarter softening, but some components did show signs of bottoming out.. The passenger air travel index (49.2) has been the hardest hit by the pandemic, with the biggest decline ever recorded for any of the barometer's components, reflecting the precipitous drop in travel linked to Covid-19 and efforts to stop its spread. However, the contraction appears to have stabilised recently. Indices representing container shipping (92.4), construction (97.3), and the global services Purchasing Managers' Index (97) also showed signs of turning around. Interestingly, the Information and Communication Technologies services index tumbled to 94.6 despite robust demand during the pandemic. The financial services index (100.3) was the sole component index that remained on trend as of mid-September. Services trade has generally held up better-than-goods trade since the latter is more directly affected by recent trade tensions. Unlike its counterpart for goods, the fluctuations registered by the services indicator coincide with movements in actual trade flows, rather than anticipating them. Last month, the WTO’s similar barometer for goods trade showed that global merchandise trade volume is estimated to have contracted 14 per cent in the first half of 2020, and may see an overall 13 per cent decline in 2020. While it was confirmed that trade volumes had crumbled steeply in H1 there were also hints at a nascent recovery. India’s services exports, focused on the information technology and IT-enabled services have managed to fare better than global peers. In July, services exports stood at $17.03 billion, witnessing a 10 per cent fall, whereas imports stood at $10.05 billion, a fall of nearly 22 per cent.
Source: Business Standard
As international trade shows are gradually getting back on schedule in China, this year’s Yarn Expo Autumn will also open as planned next Wednesday. From September 23-25, the fair will house over 410 exhibitors from six countries including China, Hong Kong, India, Pakistan, US and Vietnam, in hall 8.2 of National Exhibition and Convention Centre (Shanghai). Apart from the all-encompassing range of high-quality and innovative yarn & fibre products on offer, a number of themed areas and events will also take place during the fair to reveal the latest developments of different industry sectors, as well as offer valuable knowledge exchange opportunities. The growing popularity and recognition of Yarn Expo has made the fair one of the most influential trade events in the industry. Both overseas and domestic suppliers choose the fair as their key stage to present their latest products and innovations from natural to synthetic. Amongst the 410-plus exhibitors this year are some big-name players, which include: Cotton Council International (booth 8.2-C56): will promote quality and traceable US cotton using their Cotton USA brand; Texperts India Pvt Ltd (8.2-D52): as a service provider for customised solutions for textile products sourcing and marketing, the company facilitates international trade of nearly 10,000 tons per month of fibres, yarns, fabrics and garments; Orient International (Holding) Co Ltd (8.2-E85): will showcase different fibre series, such as the original liquid-coloured Fengcai series, functional antibacterial series, regenerated & differentiated series and bio-based Borlar polylactic acid series; Nantong Doublegreat Textile Co Ltd (8.2-H58): will showcase the company’s newly developed polylactic acid blended yarn; and Hmei Thread Co Ltd of Yibin Sichuan (8.2-H95): will highlight their dyed viscose spun yarn which uses top quality viscose staple fibre as a raw material, and is spun by a first-class spinning process. More highlighted exhibitors such as M.ORO Cashmere (8.2-A56), Hi-Tech Fiber Group (8.2-A108) and Sateri (8.2-C58) will also be at the fair and present some of the highest quality cashmere products and regenerated fibre technologies. For those who cannot attend the fair due to travel restrictions, this year’s Yarn Expo Autumn has launched a new online business matching service for all pre-registered visitors. This online platform offers access to the exhibitor search platform as well as allows users to meet with their targeted visitors or buyers virtually. In fact, as those who can attend the fair can also use this online service to start their sourcing early and schedule meetings with potential suppliers in advance, it will increase buyers’ sourcing efficiency and boost the exhibitors’ exhibit results.
Source: Fibre2fashion
Meng Wei, the spokesperson for the country's planning body attributed the shifting of the companies to rising costs and intensifying trade friction between China and the US. International companies are shifting their production out of China due to increasing costs and intensifying Sino-US trade friction, a top Chinese trade official has acknowledged while downplaying it as a "normal market phenomenon." Meng Wei, the spokesperson for the country's planning body National Development and Reform Commission (NDRC), played down the steady closures by the multinational companies which provided massive foreign direct investment (FDI) in China for decades enabling it to emerge as a global export hub. She said on Wednesday that the recent moves by international companies to shift production base out of China can be seen as normal market activities. Meng attributed the shifting of the companies to rising costs and intensifying trade friction between China and the US. The official said that China is committed to further opening up its economy and improving its environment for foreign businesses. "The shift is a normal market phenomenon," Meng was quoted as saying by the state-run Global Times. China faced major disruptions to its massive supply chain industry in the last two years as US President Donald Trump pursued aggressive policies towards Beijing fuelling political and trade tensions besides the economic fallout from the COVID-19 pandemic. The US on September 14 banned the import of five goods from China, including computer-parts, cotton and hair products, alleging that they are produced in forced labour camps in the restive Muslim-majority Xinjiang province. US President Donald Trump in May had ruled out renegotiating the trade deal with China. The US and China in the beginning of the year signed Phase-1 of a trade deal, ending a bitter two-year tariff war that had rattled the global economy. A number of countries including India, Vietnam and Bangladesh have announced special policies to attract the foreign firms leaving China. Also, investment between the US and China in the first half of the year dropped to the lowest level in nearly a decade, Hong Kong-based South China Morning Post reported. For the six months ending June 30, total capital deployed through direct and venture capital investments fell to an estimated USD 10.9 billion, from USD 26 billion at its 2016 peak, Post quoted a report by Rhodium Group and the non-profit National Committee on US-China Relations. Direct investment by US companies in China dropped to USD 4.1 billion during the first six months this year as well, although several large acquisitions are moving forward, including JP Morgan's USD one billion deal to take control of its Chinese mutual fund joint venture, the report said.
Source: Indian Express
Consumers love the latest fashions. Unfortunately, each year 21 billion pounds of textiles are sent to landfills. How do textile manufacturers balance inherent waste while still getting the customer trending fashion? The first step is understanding the problem. The apparel industry accounts for 10% of global carbon emissions and 20% of global water waste, according to a report by the United Nations Economic Commission for Europe. Not only does the industry waste resources, it contributes a significant amount of pollution. Textile manufacturing can emit microplastics into water systems, contaminating water supplies for humans, animals, and plant life. “Fast fashion” might meet consumers’ need for newness, but more than 85% of postconsumer textiles end up in landfills. Consumers are purchasing clothing faster, but only keeping them for half as long to keep up with the latest fashion trends.
What’s the solution?
Changing Preferences
According to McKinsey and Company's State of Fashion Report 2019, created in collaboration with Business of Fashion, one of the top 10 trends impacting the industry is “radical transparency.” People want proof that manufacturers are sourcing and providing products in a socially responsible manner. A recent study shows that both Millennials and Gen Z are claiming to be socially responsible shoppers, at 42% and 37% respectively. They are demanding products that can be proven to be manufactured and distributed in an ethical manner. Companies are now meeting their demand by reviewing their supply chains for ethical processes that they can prove to the market.
Rent and Reuse Fashion
To meet consumers’ need for the latest fashion, companies are rethinking how to bring not only new but recycled fashion to the market. Rental platforms allow customers to customize and frequently update their closets. Creating a “circular economy” that allows customers to return items isn’t easy and requires an efficient yet reverse logistics model. While there are new players in the market, it takes a significant investment to allow consumers to rent and return fashion at a reasonable price — around $200 per month — but these platforms are growing in acceptance. Reusing fashion isn’t just limited to your local thrift store. TheRealReal allows customers to consign luxury items, creating an economy for those who like to rent and reuse top quality items. For example, customers can consign Stella McCartney fashions and receive a $100 gift card to the brand’s store.
New Manufacturing Processes and Fabrics
Textile designers and innovators are creating fabrics that are environmentally friendly yet fashion-forward. As well, companies are inventing ways to reduce or eliminate the amount of chemicals that go into the textile manufacturing process. In 2018, Levi Strauss announced they would start using lasers in their denim finishing process, reducing the amount of chemicals and labor that goes into their clothing. Companies are experimenting with bioengineered fabrics that are lighter and longer lasting, including lab-grown leather and synthetic materials. The problem for these companies is scalability as they continue to raise millions of dollars to meet industry demand, which will take time. The fashion industry still survives on products that have been in existence for hundreds of years, including cotton, wool, silk, and other common materials, and it may have to wait until engineered fabrics gain greater acceptance and are more widely available.
Regulation
The fashion industry is not without regulation. The U.S., China, and Europe all regulate chemical industries, which provide dyes and treatments for fabrics. Companies, including textile manufacturers, must prove they are in compliance with these laws.
Value Supply Chain
Companies are responding to the increasing consumer demand for clothing that is ethical yet doesn’t destroy the environment. While regulation is helpful, it cannot keep up with the fast-paced change demanded by customers. Coalitions like the CDP are bringing together suppliers and retailers with significant procurement power to review their entire supply chain and use their influence to incentivize their suppliers to comply with environmental and socially responsible policies. Currently, the CDP’s members have more than $66 billion in procurement power and can leverage significant influence within their individual supply chains. One CDP participant, WalMart, in partnership with the Sustainability Consortium’s help, has identified “hot spots” to address within their textile value chain. This will allow them to examine important issues that will improve transparency throughout their supply chain. “Our vision is for all textile products to be sustainably designed, sustainably produced, and made with quality that lasts,” reports the WalMart website. “We are challenging suppliers to deliver Every Day Low True Cost (EDLTC) products that are not only affordable but are also produced in a way that is more sustainable for people and the environment.” New software exists for companies to develop their own value supply chains. Sourcemap is a tool that allows companies to map their entire supply chains, allowing companies to collect data, visualize, and report their findings. Once mapped, companies can review the products, inventory, and the impact they have on the environment. Sourcemap's founder and CEO, Leonardo Bonanni, says: "Fashion supply chains are among the most complex in the world because they can change with every season, every style."
More Work to Do
As long as the demand for fast fashion exists, customers will continue to crave a stream of new textiles. The industry, including their vendor partners, are taking the lead to improve fabrics and create a more environmentally sound approach to fashion and overcome the hurdles of complex global supply chains. Want More on Sustainable Fashion from Thomas? · Green is the new black · Levi's plans to decrease carbon emissions · Textile companies are developing alternative fibers from waste products.
Source: Thomas Net
