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Ind Texpo will be held in Tamil Nadu from January 27 to 29, 2019. This is a reverse buyer seller meet. The objective is to promote the textile and clothing sectors. With an exhibition area of 5000 sq mt, Ind Texpo 2019 is a specialized B2B fair in the textile sector offering a one-stop destination for worldwide importers to source Indian textiles from fibers to fashion.
Along with the support of Indian missions abroad, an extensive visitor promotion campaign by direct mails, invitations, advertisements in trade magazines and road shows etc. is expected to bring top decision-makers from around the world to visit Ind Texpo 2019.
Efforts will be undertaken to invite over 150 buyers from around the world. Major textile associations all over the world have been invited to lead importers’ delegation to visit the show.
The event is being organized by the Cotton Textiles Export Promotion Council in association with the Powerloom Development Export Promotion Council and supported by the Ministry of Textiles and the Ministry of Commerce, Government of India.
Visitors will include buyers and importers of all textile items including fabric made-ups, home textiles, garments and yarns. Exhibitors include manufacturers and exporters of fabrics, made-ups and home textiles of various fibers, designs and blends.
The Indian textile ministry has for the first time given awards to people who have made significant contributions to the textile sector. Seventeen awards in different categories were given away by the vice president of India for outstanding performance and excellence in various spheres of the textile industry.
The vice president stressed on improving the quality of products to become competitive in international markets and called upon the textile industry to create brands for Indian textile products. During the ceremony he was presented commemorative stamps on GI registered handicrafts.
Eight special recognition awards were presented for excellent work in the textile sector. In addition, 16 artisans were felicitated who have enriched the handloom sector with their creative work in weaving and printing.
The textile sector plays a pivotal role in India’s economy. The last few years have been transformational for this sector. Industry specific policies, technological upgradations, focus on research and development, investment in human resources and strategic intervention for market promotion have made Indian textiles a desirable and trusted brand on the global map. There is no dearth of talent in the country and the only thing that is needed is to tap the available talent by proper skilling and encouragement.
Sri Lanka’s apparel exports increased 10.10 per cent year-on-year in November 2018. Exports to the US increased 16.58 per cent while to the EU increased marginally by 3.01 per cent in the period. Total exports during the January to November period grew 4.92 per cent.
With November export results, Sri Lanka hopes to surpass the US $5billion magical figure for the first time in history. Cumulative apparel exports to the US from January to November increased 5.61 per cent while exports to the EU increased 4.13 per cent. Overall exports to other countries too increased 5.11 per cent.
The industry expects around four to five per cent year on year growth in apparel exports for 2019. This is based on the assumption that there will be no hard Brexit and there will be a negotiated Brexit.
Apart from Bangladesh and Vietnam, some African nations such as Ethiopia are also emerging as major apparel exporters to the US and EU, as they have the capacity to manufacture garments at a low cost while meeting the sustainability standards as demanded by US and EU retailers. Sri Lanka is not able to fully capitalise on the US-China trade war, as Sri Lankan manufacturers don’t have the capacity to cater to the export orders that China is losing.
The Federation of Indian Exporters Organisations (FIEO) officials are pushing for fiscal and non-fiscal incentives for exporters in Gujarat. The state currently accounts for 25 per cent of India’s total exports in sectors such as pharmaceuticals, textile, ceramics, chemicals, gems and jewelery and even auto components. It aims to increase these exports to 33 per cent by 2020.
The state government will roll out an exports policy soon. These incentives will help boost growth of Small and Medium Enterprises (SMEs) to a great extent. At the same time, non-fiscal incentives in the form of ease of doing business initiatives to address industry problems will be crucial for exporters. In a move to facilitate ease of doing business for exporters, the Union minister also emphasised on better financing by banks.
The weaver community in Venkatagiri has sought support from the government for their eco-friendly products as several schemes launched by the Union and state governments have failed to reach them in the past. Presently, these weavers get Rs 1,000 subsidy on silk yarns worth Rs 25,000 per ‘Maggam’. They want the subsidy to be enhanced to at least Rs 2,000.
These weavers also suggest more expos in cities all through the year to eliminate middlemen, and a special drive to promote saris and dress material made out of organic cotton can go a long way in improving the fortunes of the handwoven cloth makers.
From a glorious past, the weaving community in Venkatgiri has now been reduced to looking for unskilled jobs in order to survive, despite their exquisite saris getting a Geographical Indication tag. Some young weavers are trying to improvise in order to stay afloat, and are relying on silk weaving as they can get decent returns as the cost of the sari goes up. They have tied up with leading boutiques in Hyderabad and other cities to market their specially-woven saris with elaborate designs within the country and abroad.
The Indonesian Textile Association (API) expects textile exports in 2019 to reach $14 to $15 billion. In 2018, the association exceeded its export target of $13 billion to reach $13.5 billion. API feeks, in 2019, the condition of world economy will be better. The government has also begun to working on trade agreements with Europe, especially EFTA countries namely Switzerland, Liechtenstein, Iceland and Norway.
These will open market access to Europe, although not all European countries. Alongwith exports, domestic sales will also continue to grow. These domestic sales still face with the challenges from imported products that continue to enter the market. In 2018, the volume of imported products dropped to 20 per cent due to government policies that limit imported products. At present, the percentage of these imported products is decreasing.
Bangladesh export earnings from readymade garments grew 15.65 per cent in July to December of 2018. The sector is continuing its positive export trend, fuelled by value-added products, policy support and completion of 90 per cent of the factory remediation work set by Accord and Alliance. This is attracting buyers from the US and Europe.
From July to December 2018, knitwear exports rose by 13.92 per cent and woven garments exports rose by 17.48 per cent. The four months from October to January are the peak season for shipments of apparel. Future prospects are even brighter for garment shipments.
The tax at source in the export-oriented readymade garment sector was reduced to 0.25 per cent from the existing 0.6 per cent in a bid to enhance the competitive edge of the sector. With the latest reduction, the tax at source for exports in the sector has been reduced for the second time in the current fiscal year. Earlier, on September 5 this year, the tax at source for exports in the sector was reduced to 0.6 per cent from 1.0 per cent.
The US-China trade war has forced many US fashion companies to look for alternative supply sources beyond China, creating a big opportunity for Bangladeshi apparel exporters.
The textile industry in Indonesian has just started implementing the 4.0 industrial revolution. However, most implementations have only been carried out within the scope of company management or have not yet arrived at the production process.
It is only export-oriented companies that have taken to the system in a significant way. And that is because the average overseas buyer wants the implementation of SAP as a technical standard that must be met. Without the implementation of SAP, the textile industry in the country will find it difficult to compete with the textile industry in other developing countries.
Currently the Indonesian textile industry faces a number of heavy competitors such as China and Vietnam for the Southeast Asian region. Indonesia’s position on the global textile market is only two per cent, far smaller than China’s, which is ranked first at 30 per cent. The textile industry in Indonesia is the third largest contributor to the country’s foreign exchange earnings.
But the industry is getting help in implementing the 4.0 industrial revolution. Assistance provided by the government includes a number of operator-level training in the form of three in one system training (training, competency certification and work placement). Implementation of industrial revolution 4.0 can increase production capacity of a company and can also boost employment if demand increases after the implementation of the revolution.
"The ‘State of Fashion Report’, co-published by McKinsey & Company and Business of Fashion, dubs 2019 as a year of awakening as companies will pioneer new innovations in automation and AI, disrupting themselves before others do it for them. The report 10 key trends that will define the fashion agenda in 2019 includes: Worsening economic conditions: According to McKinsey, the uncertainty that."
The ‘State of Fashion Report’, co-published by McKinsey & Company and Business of Fashion, dubs 2019 as a year of awakening as companies will pioneer new innovations in automation and AI, disrupting themselves before others do it for them. The report 10 key trends that will define the fashion agenda in 2019 includes:
Worsening economic conditions: According to McKinsey, the uncertainty that plagued 2018 is likely to further dampen global economic growth in the year ahead. Already, global growth is showing signs of plateau after averaging above 2.5 percent since the financial crisis, US interest rates are rising, increasing the cost of borrowing money for both companies and consumers, and Europe could see a tightening of the monetary policy, which might lead to slower economic growth.
India to be a growth centre: The report suggests, “India will be global growth centre in 2019. Economic growth in India is expected at 8 per cent a year between 2018 and 2022, while the country’s middle class is forecast to expand 19.4 per cent, outpacing China, Mexico, and Brazil.
Global growth axis to change: Apparel trade could be reshaped by new barriers, trade tensions, and uncertainty. However,
there may be new opportunities from growing South-South trade and the renegotiation of trade agreements. Trade within the region is expected to increase from roughly 25 per cent of global trade at present to closer to 30 per cent by 2030, McKinsey noted.
Emerging methods of products’ access: Today’s consumers seek innovative, sustainable and affordable products. To achieve many brands are resorting to resale and rental Consumers are shifting away from traditional ownership to newer ways in which to access product.
Brands becoming increasingly eco-aware: Nine in ten Generation Z consumers believe companies have a responsibility to address environmental and social issues. They increasingly back their beliefs by favoring brands that are aligned with their values and avoiding those that don’t.
New technologies for acquiring new styles: According to McKinsey, majority of fashion players in 2019 will integrate commerce functionality into social media besides integrating visual recognition tools into day-to-day shopping for the average consumer.
Increasing transparency in brand operations: Ongoing data breaches at apparel companies have fueled a rising distrust that brands and retailers will need to counter. They’ll need to ramp up transparency, in many cases, as McKinsey explained, by specifying costs of materials, labor, transport, duties, and mark-up—a level of ‘radical’ transparency that has helped fuel success for companies like Everlane.
Self disruption emerges as a major norm: The McKinsey report states that technology and social media are enabling a new breed of ‘challenger’ brands that disrupt a sector or category where incumbent players have rested on their laurels. To compete and stay relevant among demanding young consumers, traditional brands are disrupting their own brands, offerings, and business models.
Brands to provide value added services: E-commerce players will continue to innovate by adding profitable value-added services either through acquisitions, investments or internal R&D. They will strengthen their lead over those remaining pure players who rely solely on retail margins and existing offerings.
Delivering on-demand: In 2019 more companies will step out to deliver on on-demand as many a startup in the space has already done. This will result in increase in just-in-time production, reduce levels of overstock and increase importance of small-batch production cycle.
The first edition of WEAVES 2018, organised recently at Texvalley, Erode, was attended by 204 exhibitors who displayed their products covering large variety of yarns, fabric as well as garments. Over 7,000 delegates from all over India and abroad visited the show.
The four-day trade event also held over 654 B2B meetings, connecting the local manufacturers to the domestic and international buyers, face to face. This successful event had a business transaction worth over Rs 450 crore. Moreover, 29 MOU’s with educational Institutions were signed in the presence of State Ministers to promote the collaboration among the rising talents from the colleges and connecting them with the regional manufactures for their design and product development requirements.
To honor the titans of textile industry in Tamil Nadu, ‘Titans of Tamil Nadu Textiles’ Coffee Table Book was released during the show. Next edition of the event will be organised from November 27-30, 2019.
