The Minister of State for Textiles (Independent Charge), Santosh Kumar Gangwar has inaugurated The Heimtextil India and Ambiente India, Trade Fair for Home Furnishing & Contract Textiles targeting Trade visitors across India, in New Delhi Thursday. As many as 150 companies from seven countries are showcasing umpteen home furnishings fabrics and home decor designs at Ambiente India and Heimtextil India 2015. Bath linen, kitchen textiles, window decorations, furniture fabric salon, textile floor coverings and others products from India, China, Pakistan, Germany, Nepal, Thailand and the US are being showcased in the three-day fair. "This extraordinary gathering of textile fraternity members along with interior decor, furnishing industry players at Ambiente and Heimtextil India reaffirms that India continues to be an attractive market for domestic and international consumer good brands," Gangwar said at the inauguration function.
Heimtextil India joins the world's most renowned Home and Contract Textiles trade fair brand. The show was jointly organized by Messe Frankfurt Trade Fairs India Pvt Ltd, the Indian subsidiary of one the world's leading exhibition organisers. The Messe Frankfurt Group has a global network of 28 subsidiaries and around 50 international Sales Partners, allowing it to serve its customers on location in more than 160 countries. Heimtextil is the biggest and most important platform for manufacturers, retailers and designers around the world. With 7 shows in Frankfurt, Tokyo, New York, Moscow, Shanghai and now New Delhi, Heimtextil presents presents a worldwide coverage of the home and contract textile industry. In addition to providing a platform for business, Heimtextil India is accompanied by high quality seminars and informative lectures on topical themes; Heimtextil India offers a comprehensive approach to Home and Contract Textile professionals. With its wide range of product groups, Heimtextil provides exclusivity, structure and orientation for the Industry.
SOURCE: The SME Times
To bring down attrition and increase productivity of women employees, textile industries in the state are taking slew of measures. From building housing facilities to providing creches for kids, the textile companies are doing every bit to keep women employees on their roll. This has resulted in increase of women employees in textile sector in state by 30% in last five years double the national average of 15%. The industry experts believe that better work environment, consistent income and several incentives by employers is attracting women into textile industry, especially in garment and fabric sections. City based Arvind Ltd is planning to set up a dormitory-based manufacturing facility in its upcoming apparel park in Dehgam in a bid to scale up manufacturing and increase productivity. The facility will house around 10,000 women who will be employed in the manufacturing facility. The company also provides creches and other incentives to women employees.
In last five years, number of women employees in Arvind Ltd has increased by more than 1300 and with garmenting business 100% driven by women. The Udyog Bharti Mandal in Gondal is also constructing houses nearby its facility to ensure both men and women of the family can stay and work together. "Around 80% of the women are employed in garment sector followed by fabric and other sectors in the industry. Many companies and textile units in Saurashtra region are building facilities to house their employees with an aim to reduce absenteeism and help women focus on job," said Dr Chandan Chatterjee, director, Centre for Entrepreneurship Development, Gujarat.
According to rough estimates, close to 90 lakh people are working in textile industry in Gujarat including 45 lakh to 50 lakh women. Among all incentives, some textile units are even paying their women employees more than their male counterparts in garment sector. "Besides providing creches for nursing mothers and kids of other staff, we have also set up a grievance cell to deal with the issues of women employees. If the women employees have to work overtime, boarding and lodging is also provided," said Bhavik Parikh, MD, Globe Textiles. Many companies have also set up skill development centres where in women in large numbers are being trained.
SOURCE: The Times of India
Sophisticated facilities for testing textile qualities at the laboratory of the Textile Committee (TC) unit here under the Textile Ministry remain underutilized because of lack of awareness among industry and the authorities concerned. Though the TC lab has state-of-the art equipment for testing qualities of textiles and other products, they are yet to be fully utilised because of lack of awareness in the State about the facilities. The facilities at the lab ranged from chromatographic equipment for measuring even minute presence of toxic chemicals in textile products to weather-o-metre that can test the colour fastness of fabrics. Though the quality testing in the laboratory is mandatory for textile exports as most of the importing countries have either banned or restricted the use of many chemicals in the dyes used in textiles, textile products sold in the domestic market are not free from toxic chemicals because of the absence of testing facilities and lack of awareness in the industry.
Hazardous chemicals
‘‘Hazardous chemicals such as different types of arryl amines, penta chlorophenon, tetra chlorophenol, various types of phthalates, heavy metals, and formaldehyde that are either banned in textile products or restricted,’’ assistant director of the TC K.C. Jayarajan said. The testing equipment in the laboratory could recognise the presence of such chemicals even in the micro measure of parts per million, he said. Though the laboratory facilities were mainly for textile industry, they could be utilised for testing products in other industries such as rubber and coir, he said. Though the TC had been entrusted by the government to examine the quality of fabrics of the uniform for students in government and aided schools under the Sarva Siksha Abhiyan, many schools had used the TC certificate they received in the first year of the scheme’s enforcement, sources in the TC said. The TC laboratory testing should be made mandatory for textile products procured by State government agencies, they added. The laboratory here is accredited by the National Accreditation Board for Testing and Calibration Laboratories (NABL) and hence the reports issued by the lab are valid in more than 30 countries.
SOURCE: The Hindu
Making a strong pitch for investments in India, Finance Minister Arun Jaitley has asked long-term US investors to start investing without any delay as India’s growth story is on a firm footing and all outstanding issues are under the government’s active consideration. In his meeting with a group of US investors, Jaitley, who concluded his nine-day US tour on Wednesday, alluded to the extensive reforms that have been launched by the government in the last one year. Addressing long-term investors at a roundtable organised by CII and Kotak in San Francisco on Wednesday, Jaitley said the economic fundamentals are very strong, making India one of the most attractive investment destinations. Dispelling any notion of waiting and watching by long- term investors, the Finance Minister said India’s growth story is on a firm footing and whatever outstanding issues are there are under the government’s active consideration. He reaffirmed that the lack of majority in the Rajya Sabha does not lead to indefinite delays and in fact there is no precedence of permanent hold up.
Jaitley urged the investors to look at India as a destination where investments can now be committed without delay. Jaitley left for India on Wednesday and during his US stay, he visited New York, Washington DC and San Francisco. The CII-Kotak roundtable had representations from some of the biggest funds in the US, including Calpers, Calstrs, Townsend Group, Regents of the University of California, Hall Capital Partners, Stanford Management Company, J Paul Grey Trust, Dodge & Cox, Franklin Templeton, Geneva Advisors, Matthews, Route One, Standard Pacific, Think Investments, Chris Hansen. Observing the collective value of the assets under management of the investors inside the room was upwards of $1 trillion, Dr Naushad Forbes, president-designate CII, said, “this meeting is one of the most important reaching out by the Government of India, in presenting the Indian story to investors, who have the potential of significantly meeting the capital requirements of India.”
In his last meeting, Jaitley addressed a select gathering of Indian-American community at Palo Alto organised jointly by CII and TiE. Hailing the entrepreneurial and innovative diaspora in Silicon Valley, the heart of America’s entrepreneurial dynamics, Jaitley laid great emphasis on the positive impact that this highly influential community can have on India’s transformation. Giving an insight into government’s efforts towards ease of doing business, creating a reformist and developmental agenda with an aim to reach sustainable and inclusive growth, Jaitley invited and urged the Indian diaspora to engage and contribute towards India’s rise as a global power. Jaitley’s three day trip to San Francisco was accompanied by a high-powered CII delegation led by Forbes. Among other members of the delegation were Pramod Bhasin from Genpact, Y M Deosthalee (L & T), Rajan Navani (Jetline), Ravi Parthasarathy (Infrastructure Leasing & Financial Services ltd), Rishad Premji (Wipro), S Sriniwasan (Kotak Realty Fund) and Noel N Tata (Tata International).
SOURCE: The Financial Express
The Comprehensive Economic Cooperation Agreement (CECA) with Australia, negotiations for which are underway and expected to be finalised during this year, will be a game changer for India-Australia trade ties, according to Steven Ciobo, Parliamentary Secretary to the Minister for Foreign Affairs, Australia. Interacting with industrialists at a meeting hosted by CII Telangana and Andhra Pradesh on Thursday, Ciobo said Indian Prime Minister Narendra Modi and Australian Prime Minister Tony Abbott have set aggressive target for signing the CECA covering goods, services and investment. He said Australia is keen to be part of the ‘Make in India’ campaign as it would help global supply chains and support competitive products. The two-way investments and FDIs could get better with the agreement. The bilateral trade between India and Australia, estimated at $15 billion, has immense potential to expand. The trade between Australia and China at $160 billion shows the potential for growth with India. Mutually beneficial CECA would unlock this potential, he said. More trade and investment fuels growth and creates jobs. Australia has concluded Free Trade Agreements with China, Japan and South Korea. And when India signs up the CECA, Australian resources for India’s energy security would also play a role in the long term. The IT services sector could get a further boost and be useful for Australian companies like the ANZ Grindlays Bank office in Bangalore, where more than 7,000 people work. Being the number one exporter for coal, iron ore and heading towards No.1 slot for LNG, Australia could provide greater access to mining capabilities too. India’s plan to develop 100 new smart cities and several infrastructure projects require huge resources and Australian companies can share their expertise in developing infrastructure, Ciobo said. Mutual investments and strengthening of economies would be beneficial for both, he said.
SOURCE: The Hindu Business Line
RBI Governor Raghuram Rajan has asked central banks from across the world to define “new rules of the game” as he warned that the global economy may be slipping into problems similar to the Great Depression of the 1930s. Rajan, who has been warning against competitive monetary policy easing by central banks, however, said the situation is different in India where RBI still needs to bring down lending rates to spur investments. He expressed concern that the world may be slipping into the kind of problems of the depression of the 1930s and an international consensus was needed to be built over time. “We need rules of the game in order to affect a better solution. I think it is time to start debating what should the global rules of the game be on what is allowed in terms of central bank action,” he said at a London Business School (LBS) conference on Thursday evening. “I am not going to venture a guess as to how we establish new rules of the game. It has to be international discussion, international consensus built over time after much research and action,” Rajan said. “But I do worry that we are slowly slipping into the kind of problems that we had in the thirties in attempts to activate growth. And, I think it’s a problem for the world. It’s not just a problem for the industrial countries or emerging markets, now it’s a broader game,” he noted. Asked specifically about interest rate cuts from an Indian perspective, he said, “I try to shut out market reactions as far as I can. We (India) are still in a situation where we have to spur investment and I am worried more about that.”
SOURCE: The Financial Express
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$ 61.39 per barrel (bbl) on 25.06.2015. This was lower than the price of US$ 62.48 per bbl on previous publishing day of 24.06.2015.
In rupee terms, the price of Indian Basket decreased to Rs 3905.02 per bbl on 25.06.2015 as compared to Rs 3977.48 per bbl on 24.06.2015. Rupee closed stronger at Rs 63.61 per US$ on 25.06.2015 as against Rs 63.66 per US$ on 24.06.2015. The table below gives details in this regard:
|
Particulars |
Unit |
Price on June 25, 2015(Previous trading day i.e. 24.06.2015) |
Pricing Fortnight for 16.06.2015 (May 28 to June 11, 2015) |
|
Crude Oil (Indian Basket) |
($/bbl) |
61.39 (62.48) |
62.08 |
|
(Rs/bbl |
3905.02 (3977.48) |
3966.91 |
|
|
Exchange Rate |
(Rs/$) |
63.61 (63.66) |
63.90 |
SOURCE: PIB
The World Textile Awards, sponsored by The Textile Institute, have announced their winners after an inaugural year in which a raft of entries was received from all over the world. The top prize of International Textile Firm of the Year was awarded to Textured Jersey Lanka PLC, a manufacturer of knitted fabrics for the intimate apparel and active wear industries. Founded in Sri Lanka in 2001, the firm is a joint venture between Hong Kong’s Pacific Textiles and Brandix Lanka and counts Marks & Spencer, Victoria’s Secret, FILA, Tezenis, Intimissmi and Calvin Klein amongst its clients. Adrian Dinsdale, CEO of the World Textile Awards, said: “We are delighted to give this award to Textured Jersey. The judges were impressed not only by the firm’s ability to meet our judging criteria but also by the immense enthusiasm and energy that came across in the submission. We have seen some wonderful entries in our inaugural year and look forward to more of the same in 2015.” Sriyan de Silva Wijeyeratne, managing director of Textured Jersey, remarked: “This is an incredibly exciting award for us to win and reflects the passion and dedication of the entire team. We have made it our vision to build a firm of global significance. Winning this prestigious title from the World Textile Awards is wonderful recognition of our efforts and we are thankful to them for the honour.” India’s Vardhman Textiles Ltd. won the Spinner of the Year award.
SOURCE: Fibre2fashion
In the aftermath of a violent attack by ethnic Uighurs on a police checkpoint in Western China, the government yesterday announced it would step up support for the textile industry in Xinjiang, in what appears to be an attempt to shore up stability in the troubled far western region. In an acknowledgement of the economic roots of the unrest, Beijing has started to pay more attention to development, especially in the region’s south, heavily populated by the Muslim Uighur minority. Under the new plan released by China’s Cabinet, the State Council, textile companies from central and eastern China, where costs are rising, will be encouraged to set up factories in Xinjiang, and banks will increase lending to the sector. “Promote the employment of those in difficult circumstances, especially in southern Xinjiang,” says the plan, which was carried by the official Xinhua news agency. The scheme will focus on the production of Muslim clothing and handmade carpets, with the ultimate objective of export. China says the sector employs about 200,000 of a population of more than 22 million people in the vast region, which grows more than half of the country’s cotton, much of it by a commercial arm of the military. The plan gave no details of financial support, but last year, the government said it had set up a 20 billion yuan (S$4.32 billion) fund to boost the textile industry in Xinjiang.
Hundreds have died in violence in Xinjiang, home to the Uighurs, in the past few years. The government blames the unrest on Islamist militants and separatists who want to establish an independent state called East Turkestan. Rights advocates say China’s heavy-handed policies, including curbs on Islam and the Uighur people’s culture and language, have fuelled the unrest. At least 18 people were reported dead after Uighurs attacked the police at a traffic checkpoint in Xinjiang province earlier this week, in what appears to be a sign of backlash against the Chinese government, which has sought to curtail religious expression for Uighur Muslims and ban fasting during the holy month of Ramadan. The government has put in place a series of laws and regulations to govern religious expression. Women in Urumqi, the provincial capital, were banned from wearing the burqa — an outer garment to cover the body in public — since January. Students and civil servants have been banned since last year from fasting during Ramadan. In a widening of the ban, state websites last week put up notices asking teachers not to observe Ramadan as well, reported Reuters. Despite the government’s various policies against religious expression, there has been resistance from the Uighurs, who have become more strictly observant of Islamic practices or found ways to circumvent the government bans.
SOURCE: Today Online
At the next Intertextile Shanghai Home Textile edition, which runs from August 26-28, 2015, over 1,400 exhibitors from 30 countries and regions have confirmed their participation. “After last year’s record-breaking edition, where visitor numbers rose 10 per cent over the previous show, leading brands have confirmed their participation,” a Messe Frankfurt press release said. According to the organiser, the fair is relocating to a new location; the National Exhibition and Convention Center (Shanghai) beginning from this edition. “The relocation means a new experience for buyers as they browse offerings of upholstery fabrics, bedding & towelling, carpets & rugs, wall coverings, digital printing, sun protection systems, etc, “ it added. The fair will occupy seven halls in total, with all overseas exhibitors located in hall 7.2, while regional pavilions from Haining, Yuhang and Shaoxing are located in halls 5.2, 6.1 and 6.2, respectively. Chinese exhibitors are housed in hall 5.1 for branded upholstery suppliers, West Hall for other upholstery fabrics, 7.1 for bedding & toweling and 7.2 for non-textile and sun protection systems. In addition to these product groups, in the International Hall, a new ‘Digital Printing Zone’ will showcase some of this sector’s biggest names, including HP.
Furthermore, a new ‘Whole-Home Style Zone’ will feature exhibitors with multiple home textile products which will be displayed in a ‘real-home setting’. “This will help buyers to visualise upcoming trends and how different products can be matched to create new styles,” Messe Frankfurt informed. Eight country and region pavilions from Belgium, India, Italy, Korea, Morocco, Pakistan, Taiwan and Turkey will also feature at Intertextile Shanghai Home Textiles. The Haining Pavilion, will be the biggest regional pavilion with almost 240 exhibitors participating in 2015 and will show jacquard, embroidery, terry and high end decorative fabrics. Yuhang Pavilion will feature a large range of high-end decorative fabrics, with a number of the country’s leading branded upholstery fabrics suppliers exhibiting at the Pavilion. Intertextile Shanghai Home Textiles is organised by Messe Frankfurt (HK) Ltd, the Sub-Council of Textile Industry, CCPIT and the China Home Textile Association (CHTA).
SOURCE: Fibre2fashion
The U.S. Congress has renewed a 15-year-old law that allows made-in-Africa goods to sail into the U.S. duty-free. That makes Africa the latest continent wrapped up in a spree of trade legislation clearing through Congress. The African Growth and Opportunity Act (AGOA), which had been due to expire at the end of September, gives sub-Saharan African nations duty-free access to U.S. markets for certain goods such as textiles. It was packaged with another bill to extend a program of assistance to American workers who are shown to be hurt by overseas competition. Congress cleared the legislation a day after it gave President Barack Obama “fast-track” trade authority to put trade deals, such as the impending Trans-Pacific Partnership, before Congress for an up-or-down vote. While the fight over the workers-aid program, Trade Adjustment Assistance, stole the spotlight, the measure is also designed to help another set of factory workers hard-hit by Asia’s rise: Africans.
AGOA has had a considerable impact on sub-Saharan Africa’s clothing industry and is a key part of the reason that textile plants have popped up across the region. It also explains why the trousers Americans buy at Walmart are increasingly from countries such as Ghana. Lately, though, the law hasn’t encouraged much investment. African industrialists like Chid Liberty, who owns a T-shirt factory in Liberia, have had to worry that a gridlocked Congress would let the bill expire this September. (Recently, Liberty has also had to deal with unfounded fears that Ebola could spread through clothing shipments.) Instead, Congress renewed the law for another 10 years. The final step is for President Obama to sign it. Liberty also worries that the Trans Pacific Partnership is likely to extend many of the same benefits to Africa’s competitors in Asia, where the cost of electricity, shipping, and business are generally much less. “It’s absolutely a threat… that some Asian countries will get the same preferences,” said Liberty, who owns Liberia’s Liberty and Justice. “It was designed to say, let’s make it a little more even for an African country to compete with an Asian country… We need to give them a chance to stand up on their feet, before we cut their advantages from under their feet.” AGOA’s renewal is as good as certain: President Obama promised on Thursday afternoon to sign it into law it as soon as it reaches his desk.
SOURCE: The Wall Street Journal
World trade grew by a modest 0.7 percent during January-March quarter of this year, the World Trade Organisation (WTO) has said. The volume of world merchandise trade "increased modestly" in the first quarter of 2015, with both exports and imports registering slower growth than over the previous six months, the WTO said in a statement. According to preliminary estimates, "world trade as measured by the average of exports and imports grew 0.7 per cent in the first three months of 2015, based on seasonally adjusted data," it said. It said world exports increased by 0.4 per cent in the first quarter of this year, down from the 2.1 per cent growth registered in the previous quarter. Similarly, imports grew by 0.9 per cent in the same period, down 1.5 per cent from the previous quarter. "Exports from developing and emerging economies rose 1.5 per cent in the first quarter, with all regions except Asia registering growth of 3 per cent or greater," it added.
In contrast, exports from developed countries fell by 0.5 per cent in the same period, with US exports decelerating by 4.5 per cent. Further, it said developing and emerging economies increased their imports by 0.6 per cent in the first quarter, with South and Central America and the Caribbean registering strong import growth at 6.8 per cent. "Developed economies increased their imports by 1.3 per cent, led by stronger import growth in Europe and North America," it added. Growth in imports in the developed countries particularly in these two regions is good news for India at a time when the country's exports continue to be in the negative zone. Europe and North America are the major export destinations for Indian goods. It accounts for about 30 per cent of India's total exports. Contracting for the sixth month in a row, India's exports dipped by 20.19 per cent in May to USD 22.34 billion mainly due to global slowdown and dip in crude oil prices. According to a WTO forecast, global trade is set to expand by 3.3 per cent this year and by 4 per cent in 2016, less than previous forecast due to sluggish growth in the global GDP.
SOURCE: The Business Standard
