12 April 2022, Mumbai:

The Cotton Association of India (CAI) on Saturday reduced the cotton crop estimate by 8 lakh bales to 335.13 lakh bales for the 2021-22 season as the production in Gujarat, Telangana, Maharashtra, and Karnataka is expected to decline.

The total production during the crop year 2020-21, stood at 353 lakh bales, the CAI said in a statement.

ALSO READ Cotton Association of India (CAI): Cotton Stocks To Decline By 12 Lakh Bales In FY'21-22

For Gujarat, the CAI lowered the production estimate to 88.99 lakh bales for the 2021-22 season, Telangana to 39.91 lakh bales, Maharashtra to 83.50 lakh bales, and Karnataka to 21 lakh bales.

Meanwhile, the total cotton supply from October 2021 to March 2022 is estimated at 343.68 lakh bales, which consists of the arrivals of 262.68 lakh bales, imports of 6 lakh bales, and the opening stock estimated at 75 lakh bales at the beginning of the season.

Further, the CAI has estimated cotton consumption from October 2021 to March 2022 at 175 lakh bales while the export shipments up to March 31, 2022, are estimated at 35 lakh bales.

RELATED NEWS Cotton Association of India (CAI): Cotton prices set to stabilise & soften from their peak levels

Stock at the end of March 2022 is estimated at 133.68 lakh bales, including 75 lakh bales with textile mills and the remaining 58.68 lakh bales with the Cotton Corporation of India (CCI), Maharashtra Federation, and others (MNCs, traders, ginners, MCX among others, including the cotton sold but not delivered).

The CAI Crop Committee has estimated the total cotton supply till end of the season 2021-22, that is up to September 30, 2022, at 425.13 lakh bales, which is less by 8 lakh bales compared to 433.13 lakh bales estimated previously.

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CREDITS: The Hindu (The news article has not been edited by DFU Publications staff).

07 April 2022, Mumbai:

The Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal has said the India-Australia trade pact will raise bilateral trade from the present $26-27 billion to $100 billion by 2030, much faster than initial expectation of rising to $50 billion in five years.

The excitement generated by the agreement has increased business optimism on both sides, he said while addressing the University of Melbourne along with Mr. Dan Tehan, Australian Minister for Trade, Tourism and Investment in Melbourne today.

ALSO READ India-Australia Historic ECTA: AEPC Hails

“Together this marriage can truly have far-reaching dimensions for both our economies and, if I dare say, for the rest of the world also where we can collectively engage and have an outreach to other parts of the world,” he said.

The minister invited Australian businesses to invest in India. “We offer you transparency. We offer you our trust, and rule of law.

We are two democratic nations, two people who love sports, both are members of the Commonwealth,” he said.

RELATED NEWS India-Australia look at taking proposed free trade agreement (FTA) to its logical conclusion

The minister also addressed members of the business community from both countries at the Melbourne Cricket Ground. Shri Goyal said India and Australia have complementarities that can benefit both countries, - India’s huge market and Australia’s investible surplus.

He said the India-Australia Economic Cooperation and Trade Agreement (IndAus ECTA) will unlock the huge market of almost 1.4 billion consumers in India to Australian industries.

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CREDITS: PBI (The news article has not been edited by DFU publications staff).

05 April 2022, Mumbai:

A steep rise in raw material prices has compelled Aditya Birla Group’s flagship company Grasim Industries to increase VSF prices by up to Rs10 per kg, which is around 6 per cent of the previous rates.

The hike in prices is due to a steep rise in prices of cotton, polyester and acrylic staple fibre.

ALSO READ Viscose-pulp, VSF, and filament yarn sector at Grasim Industries (India) increases by 55.48 percent

According to market sources, Grasim has increased VSF prices by Rs 7 per kg.

It has also increased dyeing charges by Rs 3 per kg. Therefore, the total increase is around Rs 10 per kg.

The price of modified fibre has been increased by Rs 8 per kg.

RELATED NEWS Grasim q3 fy22 results

After the increase, average rates of VSF reached Rs 175 per kg for up to the quantity of 50 MT.

The average rate will be Rs 172 per kg for bulk buyers.

VSF prices are not driven by costlier crude oil as it is sourced from wood. But costlier natural fibre pushed up the price of the tree-based fibre.

The general inflationary effect is also a cause for the price rise.

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06 April 2022, Mumbai:

The sentiment in the cotton yarn market of South India has weakened as payments to several Indian textile exporters are feared stuck due to the current economic crisis in Sri Lanka.

Cotton yarn prices in Mumbai and Tiruppur markets remained stable, but buyers have become cautious about new deals.

ALSO READ SriLanka: Jan'22 Apparel Exports set a 5 yr record

India exports ready-to-cut cloth, yarn, and cotton to Sri Lanka.

A broker told Fibre2Fashion that some exporters were worried about their outstanding payments from Sri Lanka, as the government there has stopped all foreign payments, except for essential items.

The south Asian island nation does not even have enough foreign exchange to meet their emergency imports.

RELATED NEWS India: Cotton yarn prices cool as demand softens

The knitwear hub of Tiruppur also witnessed the cautious approach of buyers.

Demand had dropped in the second half of last week due to a steep rise in yarn prices, and the Sri Lankan crisis has further dampened the already weakened sentiments.

Traders said that Sri Lanka was not a big factor in the huge Indian textile sector, but it became a crucial factor because the market is still facing poor demand.

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CREDITS: TEXPROCIL & Fibre2Fashion (The news article has not been edited by DFU publications staff).

05 April 2022, Mumbai:

Lenzing presents Online Sustainability Report 2021 “Linear to Circular” for the first time.

The Lenzing Group, the world’s leading supplier of wood-based specialty fibers, released its Sustainability Report 2021 today, April 05, 2022, on the occasion of “Earth Month”.

ALSO READ Lenzing: Stephan Sielaff new CEO

Bearing the title “Linear to Circular”, the report emphasizes the company’s focus on carefully balancing its needs with those of nature in the spirit of the circular economy.

The report has been prepared in accordance with the standards of the Global Reporting Initiative (GRI) and the Austrian Sustainability and Diversity Improvement Act (NaDiVeG) and audited by KPMG Austria GmbH Wirtschaftsprüfungs- und Steuerberatungsgesellschaft.

RELATED NEWS Lenzing Group with strong operating result in 2021

“The innovations in relation to the circular economy and biodegradability stem from a deep sense of responsibility to its planet and a desire to act in ways that future generations can be proud of.

Aiming for a carbon-neutral future

With the implementation of the two key projects in Brazil and Thailand, as well as with the investments at the existing Asian sites in China and Indonesia amounting to EUR 200 mn, Lenzing continues to march purposefully towards Group-wide climate neutrality.

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08 April 2022, Mumbai:

Vipul Organics has been awarded with the Oeko-Tex Certification for its pigment products under the brand name SunPrint for the textile industry.

The certification will enable Vipul Organics to work with global textiles and garments companies committed to upholding a sustainable ecosystem.

ALSO READ OEKO-TEX(R) celebrates 30 years

Mihir V Shah, Executive Director says, the certification will also help them broaden client base and target multinational companies focusing on safety and sustainability.

A definitive independent certification system, the Eco Passport by Oeko Tex is especially designed for manufacturers of process chemicals and chemical compounds.

RELATED NEWS Oeko-Tex has released a new impact calculator for the textile sector

The passport certifies the safety and sustainability of the entire value chain of manufacturing textiles.

During a multistep process, Oeko Tex analyses whether each individual ingredient in the chemical product meets the statutory requirements and that it is not harmful to human health. Both brands and manufacturers value the Eco Passport as credible proof of sustainable textile and leather production.

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06 April 2022, Mumbai:

The 53rd edition of the IHGF Delhi Fair concluded on 3rd April 2022 with a Valedictory Ceremony and Best Display Awards in the presence of Shri Raj K Malhotra, Chairman, EPCH, Dr. Rakesh Kumar, Director General, EPCH & Chairman, IEML; Members of Committee of Administration, EPCH and Shri R K Verma, Executive Director, EPCH.

In his wishes for a successful fair, the Hon’ble Prime Minister Shri Narendra Modi said, “Our handicrafts sector reflects the unity in diversity, richness, and vibrancy of our society and culture.

ALSO READ EPCH: IHGF underway

The emphasis is on providing wider market opportunities for our hardworking craftsmen,” and added, “Our Govt. firmly believes that technology up-gradation holds the key to its expansion.

We have taken decisive measures to further research and innovation in the sector and help manufacturers produce even more user-friendly and durable products.”

Patronized by the international sourcing community, the globally acclaimed IHGF Delhi Fair with its 2596 exhibitors witnessed regional displays and a host of supporting events. Sustainability has been at the fore as many buyers sought eco-friendly and compliant ranges in home and lifestyle products.

RELATED NEWS 53rd IHGF Delhi Fair 2022: CONNECTING THE BEST IN INDIA's HANDICRAFTS

R K Malhotra, Chairman, EPCH, said, “Our buyers have been happy to see that we share the global concern towards saving the environment.

Dr. Rakesh Kumar, Director General, EPCH & Chairman, IEML, said, “Today, while many established players (manufacturers/exporters) in India have taken decisive steps to be socially as well as environmentally responsible and compliant, and are certified, there are many artisans and manufacturers at the grassroots level whose business model is essentially centered on sustainability. We have brought them to the forefront through this fair.”

RELATED NEWS IHGF, Export Promotion Council for Handicraft (EPCH) registers heavy turnout, business enquiries surge

Approximately 4856 buyers and buying representatives from 92 countries visited the fair that resulted in business enquiries worth Rs. 3650 crores” informed Shri R K Verma, Executive Director, EPCH. “Buyers visited from USA, UK, UAE, France, Germany, The Netherlands, Austria, Belgium, Greece, Italy, Sweden, Spain, Russia, Japan, Australia, China, Singapore, South Africa, Israel, Saudi Arabia, Turkey, Canada, Brazil, and many more,” he added.

The Ajai Shankar and P N Suri Memorial Awards for Best Design Display were given in the six product categories.

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CREDITS: PBI (The news article has not been edited by DFU publications staff).

05 April 2022, Mumbai:

Ministry of Skill Development and Entrepreneurship (MSDE) through National Skill Development Corporation (NSDC) had engaged a consulting firm to conduct a study on sector-wise incremental requirements, including manufacturing sector, of skilled manpower in 2016.

The study covered 24 sectors and analyzed the sector-wise human resource requirements with 2013 as a baseline.

ALSO READ Piyush Goyal: Need to develop skills of tomorrow for the industry

The estimated manpower requirement was projected as 614.28 million for 2022 including manufacturing sector.

In order to address the incremental manpower requirement covering manufacturing sector and to empower youth including rural youth with adequate skills, Skill India Mission was launched in 2015.

Under Skill India Mission, the Government through 20 Central Ministries/Departments is implementing various skill development schemes across the country.

RELATED NEWS Post Budget Seminar: Fostering Strong Industry-Skill Linkage

Major skill development training schemes/ programmes covering manufacturing sector, being implemented by Ministry of Skill Development and Entrepreneurship, are Pradhan Mantri Kaushal Vikas Yojana (PMKVY), Jan Shikshan Sansthan (JSS), National Apprenticeship Promotion Scheme (NAPS) and Craftsmen Training Scheme (CTS).

Under PMKVY, JSS, NAPS and CTS, as on 31.12.2021, around 2.35 crore candidates have been trained/enrolled.

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CREDITS: PBI (The news article has not been edited by DFU Publications staff)

07 April 2022, Mumbai:

Ludhiana staged the 6th edition of its premier technology and machinery event GMMSA Expo, which was organized by the Garments Machinery Manufacturers & Suppliers Association, after a two-year hiatus (GMMSA).

Due to the after-effects of the COVID-19 pandemic, the Ludhiana apparel and textile industry had been dealing with negative vibes until last year; however, the visitation at GMMSA clearly indicated an improvement in business sentiments.

ALSO READ Prime Minister, Narendra Modi: Ludhiana (Punjab) would emerge as a textile center

The event gained significance since it not only drew a big number of visitors – with exhibitors receiving a large number of queries – but it also signaled that the garment makers will not be looking back in the near future.

Around 200 exhibitors attended the four-day show, including practically all major technology suppliers, and 2,000 goods were on display, including circular and flat knitting machines, sewing and value-added equipment, dyeing, finishing, various types of software, and accessories, and so on.

The hot heat couldn't keep the good people away. Importantly, the exhibitors were pleased since they were able to reconnect with industry players from other hubs like Ahmedabad, Delhi-NCR, Panipat, Amritsar, Jalandhar, Jammu, and even Nepal after a lengthy absence. The event highlighted the changing perspective of Ludhiana's industry, which is now prepared to invest more in its production facilities.

RELATED NEWS Ludhiana MSME Association: Apparel Sector seeks tech upgrade from the next Punjab government

The business is already picking up, according to Satyadev Goyal, VP, IIGM, and the company is in contact with garmenting facilities that are seeking to grow in the next months.

"At the show, we also met numerous SMEs and good corporations that were interested in our different machines," he stated.

We have a positive outlook on the market." IIGM is a multinational company that sells a wide range of sewing machines and accessories.

Shobaprad Machinery, situated in Kanpur, has been working with enterprises in Ludhiana for the past two decades and specializes in unique circular knitting machine replacement parts.

RELATED NEWS Many organizers plan physical shows across India

At the show, Ashish Agarwal, the company's Chief Executive Officer, had a similar experience (as did Belloshiva India). Apart from several local and lesser-known technology and equipment providers, the expo included well-known firms like as Groz-Beckert, IIGM, HCA, KP Global, and Narinder International.

"We remain optimistic in the face of adversity, which is why we put effort into the GMMSA Expo." The sector will have to come up with some fresh solutions, put in more effort, and manufacture more fashion-oriented items.

"Garment manufacturers are optimistic, and they want to work and expand to overcome the previous difficult years," said Gurpreet Singh, owner of KP Global Inc., a company that specializes in high-quality knitting and value-added machinery.

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05 April 2022, Mumbai:

India achieved all-time high annual merchandise export of USD 417.81 billion in FY 2021-22, an increase of 43.18% over USD 291.81 billion in FY2020-21 and an increase of 33.33% over USD 313.36 billion in FY2019-20.

For the first time, India’s monthly merchandise exports exceeded USD 40 Billion, reaching USD 40.38 billion in March 2022, an increase of 14.53% over USD 35.26 billion in March 2021, and an increase of 87.89% over USD 21.49 billion in March 2020.

ALSO READ Piyush Goyal: India hits historic $400bn merchandise exports

India’s merchandise import in March 2022 was USD 59.07 billion, an increase of 20.79% over USD 48.90 billion in March 2021 and an increase of 87.68% over USD 31.47 billion in March 2020.

RELATED NEWS Piyush Goyal: Time for the Startups to help India become self-reliant

India’s merchandise import in April 2021-March 2022 was USD 610.22 billion, an increase of 54.71% over USD 394.44 billion in April 2020-March 2021 and an increase of 28.55% over USD 474.71 billion in April 2019-March 2020.

The trade deficit in March 2022 was USD 18.69 billion, while it was USD 192.41 billion during April 2021-March 2022.

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CREDITS: PBI (The news article has not been edited by DFU Publications staff)