04 March 2022, Mumbai:

The Minister of Commerce and Industry, Consumer Affairs, Food, and Public Distribution and Textiles, Piyush Goyal has called for increasing India's share in global trade to 10% and taking our share of exports in GDP to about 25%.

“These are ambitious targets, but I think doable,” said Goyal, addressing the Closing session of the Post-Budget Webinar on ‘Make in India for the World’.

Goyal said the Prime Minister, in his Inaugural Address to the webinar, renewed emphasis to promote Manufacturing and make India self-sufficient. “Today other countries are also talking of programmes very similar to AatmaNirbhar Bharat.

And I think there can be no better endorsement of the importance and the success of this vision than the fact that the world today wants to emulate the India story,” he said. Shri Goyal called for taking India among the top 3 nations in Global Services Trade.

ALSO READ Piyush Goyal: Industry has responded well to the multiple Government interventions

He called for supporting MSMEs in foreign trade, besides creating Top 10 R&D labs/innovation centres to position ourselves as a leader in technology during the next 25 years as India embarks upon the Amrit Kaal towards India@100.

“Let all of us become job creators, let all of us work towards strengthening India’s Manufacturing ecosystem in a collaborative approach, let’s all of us make India AatmaNirbhar,” he said.

Stating that the Government is looking at a more liberal regulatory regime for the Drones sector barring the Defence systems, Shri Goyal said the Industry should aim to make India become the manufacturing hub of Drones.

He called for integrating Quality in full value chain and said it should not just come into picture once the final product is made.

RELATED ARTICLE Piyush Goyal: India should display fashion products globally

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CREDITS: PBI.

04 March 2022, Mumbai:

ASBM Industrial Plc has partnered with Togo's PIA (Industrial Platform of Adetikopé).

ASBM Industrial, for example, is one of Ethiopia's largest garment and textile manufacturers, specializing in spinning, weaving, knitting, processing, and garmenting.

The state-of-the-art industrial park in Togo, PIA, was established in 2021 as a result of public-private cooperation between the Republic of Togo and ARISE IIP. The major company will be able to open a spinning and knitting facility in the industrial zone to produce cotton yarn and knitwear as a result of this collaboration.

The business plans to grow its initial manufacturing capacity from 15 to 30 tonnes per day and will combine PIA's benefits with its textile experience.

ALSO READ: European textile industry needs to grow its role on global markets

PIA said in a statement that it was honored to welcome Abiy Gidey of ASBM Industrial Plc, an Ethiopian partner, to proceed with the signing of cooperation with the textile sector.

"We look forward to forming a solid cooperation with ASBM Industrial Plc. in order to share their knowledge in Togo," the company stated.

It's worth noting that Togo's PIA Park is luring garment manufacturers from all over the world. ITCRmg, a company located in India, has announced plans to invest US$ 35 million and install 750 flat knitting machines in Togo's 'PIA' Park (The Industrial Platform of Adetikopé).

RELATED ARTICLE: BGMEA x UNI Global Union to tie-up

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*CREDITS: Apparel Resources.

02 March 2022, Mumbai:

Allow 40 lakh bales duty free import of cotton to avoid job losses – SIMA

The predominantly cotton based Indian textiles and clothing industry provides jobs to over 105 million people across the country especially for the people below the poverty line, rural masses & women folks including 6.5 million cotton farmers by consuming over 85% of the cotton produced in the country.

Cotton being an agricultural and seasonal commodity, over 90% of the cotton arrives the market during December to March every cotton season. Owing to working capital constraint and high cost of funding, the spinning mills normally maintain two to three months’ stock after the season and procure the balance cotton from open market during July to October.

The country has been so far producing surplus cotton and exporting the same to different countries, especially Bangladesh. But during the current season, owing to substantial increase in demand and export of around 50 lakh bales, the country is likely to face 30 to 40 lakh bales cotton shortage.

ALSO READ: Union Budget 2022-23 will have a positive impact on Indian textile sector, hail associations - SIMA, CMAI, ITF, PDEXIL, CCI

The unprecedented increase in domestic cotton price from the level of Rs.135 per kg (Feb 2021) to Rs.219 per kg (Feb 2022) in one year, an increase of around 65%, is greatly affecting the exporters to meet their export commitments. The levy of 11% import duty (5% BCD, 5% AIDC & 10% Social Welfare Surcharge on both) has aggravated the cotton market in India.

As the seed cotton price (kapas) is ruling around 70% higher than the Minimum Support Price, the farmers, ginners and traders are hoarding the cotton hoping for further increase in prices.

The cotton arrival has drastically reduced to around 220 lakh bales during February 2022 as against around 293 lakh bales arrived during the same period last year.

Out of 220 lakh bales arrived in the market, around 150 lakh bales have been consumed by the mills, 30 lakh bales have been contracted for exports, 15 to 20 lakh bales are in the pipeline and around 20 lakh bales are with the trade and ginners.

Hence, the spinning mills are having one to two months stock only, as against the normal stock of three to six months during February.

The steep increase in cotton price on a daily basis is seriously affecting the exporters, who have three to four months’ export contracts with a committed prices. Few traders are intensively using MCX and NCDEX cotton futures to speculate the prices by creating artificial scarcity.

Therefore, the entire industry is heading towards a crisis during the off-season.

2 At the Press Meet held today at SIMA premises, Mr.Ravi Sam, Chairman, The Southern India Mills’ Association (SIMA) has appealed to the Hon’ble Prime Minister for his immediate intervention on cotton policies and take appropriate steps to avoid stoppage of production and job losses and enable the exporters to meet their export commitment during the offseason.

RELATED ARTICLE: The Southern India Mills’ Association (SIMA): Union Budget 2022-23, a growth oriented one

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04 March 2022, Mumbai:

The Prime Minister, Narendra Modi, today addressed post-budget webinar organized by The Department for Promotion of Industry and Internal Trade (DPIIT).

This is the eighth post-budget webinar addressed by the Prime Minister. Theme of the webinar was 'Make in India for the World'. The Prime Minister said that the budget has many significant provisions for Aatmnirbhar Bharat and Make in India.

He said that it is not acceptable that a country like India ends up merely as a market. He pointed towards supply chain disruptions during the pandemic and other uncertainties to underline the critical importance of Make in India.

On the other hand, the Prime Minister continued, positive factors like demographic dividend of young and talented population, democratic setup, natural resources should also encourage us to move towards Make in India with determination.

He also referred to his call for zero defect-zero effect manufacturing that he gave for the ramparts of Red Fort. Aatmnirbharta is all the more important if we see from the prism of national security, he said. The Prime Minister said, that the world is looking at India as a manufacturing powerhouse.

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

Manufacturing, he said, is the 15 per cent of India’s GDP, but there are infinite possibilities before Make in India and we should work with full strength to create a robust manufacturing base in India, he said.

The Prime Minister gave examples of new demand and opportunities in sectors like semiconductors and Electric Vehicles where manufacturers should move with a sense of removing dependencies on foreign sources.

Similarly, areas like steel and medical equipment need to be focussed on indigenous manufacturing, he said. The Prime Minister stressed the difference between the availability of a product as opposed to the availability of made-in-India products in the market.

He reiterated his dismay that many of the supplies for India’s various festivals are seeing foreign providers whereas they have been and can be easily provided by local manufacturers. He also emphasized that the ambit of ‘Vocal for Local’ goes well beyond buying ‘diyas’ on Diwali.

He asked the private sector to push the factors of vocal for local and Aatmnirbhar Bharat in their marketing and branding efforts. “Take pride in the products your company makes and instill this sense of pride in your Indian customers as well. For this some common branding can also be considered”, he added.

RELATED ARTICLE Narendra Modi: MSMEs and textiles being Labour intensive sectors are our key pillars

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CREDITS: PBI.

03 March 2022, Mumbai:

The war between Russia and Ukraine has wreaked havoc on the global political and economic scene, and the industries aren't thrilled with what's going on in Eastern Europe.

Businesses, especially those in the fashion sector, want this war to end as quickly as possible while also standing in solidarity with the people of Ukraine.

To have an effect, some multinational corporate corporations have indicated that they will close or cease operations in Russia.

ALSO READ: Messe Frankfurt and Inexmoda launch Heimtextil Colombia, a bet towards the Americas

Messe Frankfurt, a German event organizer, just declared that their events in Russia will be halted. According to Messe Frankfurt, Russia's invasion of Ukraine poses an unprecedented threat to Europe's peaceful coexistence.

"All of the measures imposed by the Federal Government have the full support of Messe Frankfurt.

As a result, Messe Frankfurt's management decided today to suspend operations at Messe Frankfurt RUS until further notice "according to a press release from the company.

RELATED ARTICLE: Messe Frankfurt India postpones ‘Screen Print India’ editions focused on digital printing

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*CREDITS: ecotextile.com & Apparel Resources.

02 March 2022, Mumbai:

Launched by chief minister Arvind Kejriwal, the new e-commerce platform Dilli Bazaar by the Delhi Government will be a virtual store for traders, shop owners and services.

It will help them sell their products and services online across the globe. The industries department recently invited agencies to partner in designing, developing, operating and maintaining Dilli Bazaar, including both the portal and offline services.

It tasked the Dialogue and Development Commission (DDC) of Delhi with assisting the department in carrying out a benchmarking exercise and preparing a strategic roadmap. The e-commerce platform will promote local business by providing them access to larger markets, says Jasmine Shah, Vice Chairperson, DDC.

ALSO READ: The Delhi government plans to open 'Dilli Bazaar,' which would allow vendors to sell their wares online

The commission has concluded a three-month consultation exercise with various market associations, existing e-commerce platforms, logistics providers etc as well as national and international benchmarking to create a unique roadmap for Dilli Bazaar, she adds.

The first phase of the project will focus on onboarding sellers of products, while the second phase will see service providers getting enabled on the platform. Every seller will have his own virtual 24x7 store front to showcase their products through detailed catalogues.

Customers will be able to search by products, markets, sellers and geographical area. Virtual market tours will be introduced, giving a feel of market streets and shops and easing the journey for their purchase.

RELATED ARTICLE: Jockey India expands 'offline footprint' despite 3X growth in online sales

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04 March 2022, Mumbai:

A steep rise in crude oil prices amid the Ukraine crisis pushed acrylic fibre prices by Rs 5-6 per kg last week in the Indian market.

The cost of acrylic yarn also increased by Rs 5-6 per kg during the week ending February 26 in Ludhiana, the country’s most prominent man-made yarn market.

However, the demand for man-made yarn remained weak due to poor buying from the downstream industries.

ALSO READ: CITI’s Manmade Fibre Conclave'22: Virtual platform, 9th Mar

Meanwhile, international cotton prices remained highly volatile along with other commodities due to the recent geopolitical developments. Domestic demand for the summer season remained low due to a drop in temperature.

Export demand also remained weak as exporters have very few orders.

Recent international developments are also adding to buyers' woes due to uncertainty in garment exports.

RELATED ARTICLE FASHION FOR GOOD: LATEST PROJECT TRANSFORMS AGRICULTURAL WASTE INTO FIBRES

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03 March 2022, Mumbai:

India’s merchandise export in February 2022 was USD 33.81 billion, an increase of 22.36% over USD 27.63 billion in February 2021 and an increase of 21.88% over USD 27.74 billion in February 2020.

India’s merchandise export in April 2021-February 2022 was USD 374.05 billion, an increase of 45.80% over USD 256.55 billion in April 2020-February 2021 and an increase of 28.16% over USD 291.87 billion in April 2019-February 2020.

India’s merchandise import in February 2022 was USD 55.01 billion, an increase of 34.99% over USD 40.75 billion in February 2021 and an increase of 45.12% over USD 37.90 billion in February 2020.

ALSO READ: Demand for textiles is expected to remain stable: Report

India’s merchandise import in April 2021-February 2022 was USD 550.12 billion, an increase of 59.21% over USD 345.54 billion in April 2020-February 2021 and an increase of 24.11% over USD 443.24 billion in April 2019-February 2020.

RELATED ARTICLE: India and the UAE have signed a historic CEPA, which will promote textile and garment exports

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*CREDITS: PIB.

02 March 2022, Mumbai:

What cotton farmers are producing and what textile professionals are spinning appear to be aligned fairly well, with production in the 2021/22 season is currently projected to be 26.11 million tonnes and consumption holding steady at 25.67 million tonnes.

The fundamentals are fine. The problem that today's cotton industry faces is getting the fibre to the spinners. Cotton has a lot of company in its struggle, as the Covid pandemic disrupted global shipping across many industries.

But the cotton supply chain is longer and more complex than it is for most other commodities, especially since so much of the production in the West has to be shipped halfway around the world to the countries where it's transformed into textiles.

ALSO READ ICAC: What in the World Is Going On with Global Logistics in Cotton?

Those challenges are forcing countries to adapt by streamlining their supply chains. China, Vietnam, and Pakistan imported large amounts of cotton from the United States in 2020/21.

The graph below shows how the import profile has shifted away from the United States with large increases in imports from Brazil and Australia. Given Australia’s geographic proximity to East and South Asia, this provides a distinct advantage to Australia when shipping ocean freight to Bangladesh, Pakistan and Vietnam.

Australia is clearly capitalising on their increased production capacity and impressive yields, especially in the 2021/22 season.

The Secretariat’s current price forecast of the season-average A index for 2021/22 ranges from 101 cents to 120 cents, with a midpoint at 109 cents per pound.

Cotton This Month is published at the beginning of the month with the Cotton Update published mid-month. The Cotton Update, which is included in the Cotton This Month subscription, is a mid-month report with updated information on supply/demand estimates and prices. The next Cotton Update will be released on 15 March 2022.

The next Cotton This Month will be released on 1 April 2022.

RELATED ARTICLE ICAC: Cotton prices to stay firm 2021/22 season

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04 March 2022, Mumbai:

30 years of expertise as a foundation for the future.

The vision of the OEKO-TEX® Association, which was founded in March 1992 through a partnership between the Hohenstein Research Institute and the Austrian Textile Research Institute (OETI), is still reflected today in the organisation's core values: trust, safety and sustainability.

For three decades, OEKOTEX® has pursued the goal of building trust for companies and consumers and enabling them to make responsible decisions to protect people and the planet.

"Our services bring transparency to the international textile and leather industry supply chains," says OEKO-TEX® Secretary General Georg Dieners.

"They enable all stakeholders to make mindful decisions that help preserve our planet for future generations." OEKO-TEX® market leadership In 1992, 20 years before the United Nations announced the Sustainable Development Goals (SDGs), OEKO-TEX® launched STANDARD 100 by OEKO-TEX®, now one of the best-known labels for product safety.

ALSO READ: Oeko-Tex has released a new impact calculator for the textile sector

"It emerged from the Schadstoffgeprüft nach ÖTN 100 (tested for harmful substances according to ÖTN 100), developed by OETI in 1989 to address increasing public interest in textile ecology and health," the Austrian Textile Research Institute reminds us.

The limit values and test methods on which STANDARD 100 by OEKO-TEX® is based were internationally standardised and are adapted to the latest scientific findings and legislation at least once a year - a principle that is applied to all OEKO-TEX® standards.

Prof. Dr Stefan Mecheels, owner of the textile testing service provider Hohenstein, adds: "From the very beginning, we have considered the needs of all players in the textile value chain and continue to create solutions for current and future market requirements."

RELATED ARTICLE: Hohenstein x Presize partner for better online fitting

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03 March 2022, Mumbai:

Maati by Neha Kabra has teamed with The Handloom Project and Fatima Radiowala, a technical and design consultant and handloom specialist, to produce a sustainable womenswear line. 'Summer Sorbet,' the brand's latest collaboration collection, offers pastel stripes, loose shapes, and summery items.

According to the brand's Facebook page, the collection debuted on March 1 and is the label's first collaboration with The Handloom Project.

"To develop this collection, we teamed with Fatima Radiowala and The Handloom Project," the company said on Facebook. "We have the skills to create the proper silhouette, but with Fatima, we got a chance to leverage her experience to explore custom-created fabrics by the weaver's community she supports," says the designer.

Fatima has worked with a number of fashion firms as a technical and design consultant for handloom and handmade textiles, offering environmentally friendly design solutions."

ALSO READ: Pandemic supports the growth of local handloom industry in India

During the Covid-19 epidemic, Fatima Radiowala and Srishti Tehri founded The Handloom Project with the goal of showcasing Indian crafts and assisting handloom weavers and craftsmen across the country.

The cooperation with Maati by Neha Kabra is part of the organization's efforts to promote artisan crafts. According to the brand's website, Neha Kabra operates her clothing business from Udaipur and characterizes the company as a grassroots community.

The vegan brand is available through its own e-commerce shop and retailers in Bengaluru, Indore, Hyderabad, and Kolkata.

RELATED ARTICLE National Handloom Day: Textiles Minister Piyush Goyal exhorts trade for increasing 'Handloom Export'

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*CREDITS: Maatibynehakabra & Fashion Network.

01 March 2022, Mumbai:

The National Company Law Tribunal (NCLT) has allowed Future Retail to convene meetings of its shareholders and creditors to approve the sale of its retail assets to Reliance Retail.

The approval was granted exactly a year after FRL approached the NCLT in Mumbai seeking permission to hold these meetings to approve the Rs 24,000 crore transaction.

ALSO READ: (CAIT) Traders Pan-India up in arms against Amazon India

Amazon has objected to the deal and the two parties have been slugging it out in various tribunals and courts in India as well as at an arbitration centre in Singapore since October 2020.

FRL lawyers have pleaded in the Supreme Court and the Delhi High Court that the company be allowed to complete the 15 step process required for the deal to go through.

The NCLT clearance marks the ninth step in the overall procedure, according to the company’s lawyers.

RELATED ARTICLE: Amazon challenges Delhi High Court’s order in Supreme Court

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*Figures mentioned in the above article have been sourced from TOI article.