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Kitex Garments, one of the largest producers of children's apparel in the world, will invest Rs 200 crore each in two of its new wholly owned subsidiary companies. These two facilities will help to increase the manufacturing capacities of the company to meet rising future demand. Kitex will invest in the facilities from borrowings and internal accruals and will engage KPMG in total implementation of the project, adding to its revenue growth.
Kitex Garments exports about 95 per cent of infant wear to the United States and the rest to Europe. The company also engages in contract manufacturing for private labels such as: Jockey, Carter, Babies R Us, Gerber and Mothercare. the company’s net profit dropped 44.59 per cent to Rs 17.62 crore on 2.42 per cent fall in total income to Rs 145.88 crore in Q3 December 2017 over Q3 December.
Cotton Incorporated has created an online materials library that demonstrates the diversity of cotton denim applications as part of its mission to increase demand for the natural fiber. In woven, photos of non-traditional looks like jacquard floral prints with indigo warp and natural filling and laser-etched effects are showcased. Plain weaves with end-on-end warp and pick filling also make an appearance, giving a modern twist to chambray, with details like laser-etching in a subtle dot and dash camouflage pattern.
Mills that make cotton fabrics and yarn can utilize the photo collection to portray the various constructions and techniques that can be applied to their product. There’s also a twill fabric with a natural warp and indigo boucle yarn in the filling that offers an indigo alternative to denim or other bottom weight fabrics with surface texture, and a French Terry indigo denim laser marked with an irregular diamond pattern. Also trendy are mercerized indigo denims embossed with patterns and then hand-sanded in garment form.
An indigo knits collection features the textural quality of the fabric in combination with ring-dyed indigo. There are laser-marked jerseys and French terries. A striated look is achieved in garment processing due to the textured slub yarn in the fabric. Cotton Incorporated is a research and promotional organization funded by US cotton producers and importers of raw cotton and cotton textiles.
There has been a contraction in the Indian workforce between 2013-14 and 2015-16.About 1.2 million jobs were lost and total employment was down from 483.9 million to 482.7 million.
This ties in with the poor growth in sectors such as exports during this period. Countries with more practical labor laws such as Bangladesh have been growing their share in the global textile market at India’s cost.
India is fast losing its competitive edge in exports and enterprises at home are increasingly automating operations. But critical labor reforms are pending.
Companies, even smaller establishments, need to be able to hire and fire, or they will simply stop relying on permanent work-forces.
The crucial labor code on industrial relations—already diluted to pacify labor unions—is now unlikely to see the light of the day. Earlier it was said companies would be allowed to lay off 300 workers without approval but later the level of 100 workers was persisted with.
Instead the concept of a statutory minimum wage could soon become law. As would a universal social security scheme and changes that relate to more benefits for workers without hire-and-fire.
At a time when the economy has been slowing, business enterprises should be allowed to easily hire.
Uzbekistan’s textile industry is still young and largely focused on cotton farming and spinning.But developing the entire textile value chain will not happen overnight.
While the Belt and Road Initiative will open up opportunities for Uzbek textile entrepreneurs, it could also bring in a deluge of textile and apparel products into the country, which could well thwart the growth of its fledgling industry.
For its textile and apparel industry, its best bet is to identify and produce high value added, sustainable, functional textiles, rather than conventional textiles which are already being manufactured successfully and competitively by Turkey, China, Bangladesh and Vietnam. It is these high value added textiles that will find a niche market in Europe.
The country's GDP should grow by six per cent this year. Textile has been identified as a priority sector. The country has a number of cotton spinning mills, many of which have been set up with foreign investments, especially from China.
The plan is to reduce the export of raw cotton and increase processing in the domestic market.
Uzbekistan is the sixth largest cotton producer in the world. Its raw cotton exports account for 28 per cent of the country's total textile exports. Cotton yarn exports account for 44 per cent of total textile exports.
The Trump administration’s proposed tariffs on $50 billion of Chinese imports, coupled with retaliation promised by China, would reduce U.S. gross domestic product by nearly $3 billion and destroy 134,000 American jobs, according to a new study by the National Retail Federation and the Consumer Technology Association.
The study warns that imposing tariffs on an additional $100 billion of Chinese imports would further destroy 455,000 American jobs and reduce the country’s GDP by $49 billion.
Although the levy of these tariffs would impact several sectors of the US economy, agriculture would be the worst hit with the net income of the farmers declining by 6.7 per cent.
It would also result in the loss of 67,000 agriculture jobs. And the hit to farmers would more than double if the tariffs expanded to an additional $100 billion of products.
Union Textiles Minister Smriti Irani has sought the intervention of her counterpart at the Consumer Affairs, Food and Public Distribution ministry to help stave off the risk of jute mill closures by increasing orders for jute sacks for packaging food grains.
The Textiles Ministry had granted a relaxation of .25 million bales for HPDE/PP bags based on a projection of bag requirement for food grains packaging and an anticipated shortage of supply of jute bags. This relaxation was given to ensure that the food-procurement program is not affected due to the anticipated shortfall in supply of jute bags till March 31.
The secretary also noted that subsequently the total requirement till April was projected at 1.67 million bales, of which the order for jute bags was put at 1.37 million bales. The jute industry had already met 93.4 per cent of this order.
The textiles ministry contends that the total bag requirement (including HDPE) was now being put at only 1.56 million bales and that unless the order allowing the use of HDPE bags was withdrawn the jute industry could be hit.
JPMA was enacted to protect the interest of raw jute farmers and workers involved in the production of jute goods by compulsory usage of jute bags for supply and distribution of commodities.
Cotton prices have remained high in 2017-18 at an average of 84.63 cents per pound thus far over the course of the season.
Higher prices are expected to impact planting decisions to expand the area under cotton for the 2018-19 season. World area under cotton has averaged 32.4 million hectares over the last ten years and is projected to grow moderately during the next season.
World cotton consumption is expected to continue to grow steadily through 2018-19 to a projected 26.7 million tons from 25.5 million tons estimated in 2017-18. Global imports are expected to increase to leading importers. Imports by China are projected to continue to increase for the fourth consecutive year to 1.5 million tons. While Chinese import figures continue to increase, Bangladesh remains the leading global importer.
Planted cotton area is expected to increase in 2018-19 by eleven per cent in the United States. However drought conditions remain a concern for the cotton area in West Texas which represents approximately 25 per cent of the US production. Planted area in India is expected to decrease to 11.9 million hectares in 2018-19. Chinese planted area is expected to remain stable based on the continuation of Chinese support policies.
The world’s biggest retailer has concluded it can’t take on the whole world by itself. Walmart is in discussions to give up control over hundreds of stores in the U.K. and Brazil, two big markets where it has struggled for years, according to people familiar with the talks. At the same time, it is preparing to pour billions of dollars into an Indian e-commerce startup to crack a promising market that has long eluded the U.S. giant. The moves underscore Walmart's renewed focus on catching up with competitors, ranging from grocer Aldi to Amazon, in key international markets. The retailer's underperforming international business contributed less than a quarter to its total revenue of $500.3 billion in fiscal 2018.
Walmart's international woes have been exacerbated by slow decision-making over the years and even initial talks with India's Flipkart began as far back as 2016.
Walmart initially entered the Indian market in 2007 through a joint venture with India's Bharti Enterprises, years before Amazon debuted there. That joint venture was called off in 2013 and its presence in India has remained largely static since then, at least in part due to restrictions around foreign investment in physical retail in India.
Meanwhile, Amazon jumped in with a less regulated online marketplace offering, retail consultants and investors. Amazon now holds about 27 per cent of India's burgeoning e-commerce market, according to Euromonitor, where Walmart remains a footnote and only operates 21 cash-and-carry wholesale stores in the country that sell to businesses.
The Global Sources fashion show, which ended on April 30, featured over 30 leading Vietnamese manufacturers of garments, textiles and fashion accessories as well as garment-related industries.
The show hosted the largest collections of bags and luggage, footwear and sports fashion in Hong Kong as well as Asia’s largest scarf pavilion. The major products on display included apparel, fashion jewelry, underwear, swimwear, bags, luggage, scarves, footwear and fabrics.
The four-day show featured 400 new exhibitors and over 500 exhibitors. Top buyers who attended the show included Adidas, Avery Dennison, AYE AYE, Colette, eBay, Fossil, GAP, Marubeni, Mothercare, Potpourri, Ralph Lauren, S Oliver, Scarf Home, Sears, Target Australia, Tiffany, The United Colors of Benetton and Vivarte.
The major highlights of the show included conference programmes, fashion parades and the Trends Forum, presented by Fashion Snoops and Pantone. Chris Walker, author of the book Guide to Producing Garments in Vietnam, also delivered a seminar on how buyers can buy more profitably from Vietnam.
India may scrap the anti-dumping duties imposed on the imports of viscose filament yarn (VFY) from China.
There is a feeling products subject to the anti-dumping measures do not substantially damage the domestic industry of India.
This is good news for the viscose filament yarn industry and the downstream sector considering the current exchange rates and the delicate international trade mood.
The anti-dumping duty was levied by India starting from 2005.
May is traditionally a slack season in the Chinese market and coupled with new capacities coming on stream the VFY market is expected to face bigger pressure in the middle of year. But the demand from India will grow with the cancellation of the anti-dumping duty, so the impact on the market will be alleviated.
In India, traditional religious costumes and embroidery thread consume more than 60 kilo tons of VFY a year. But the capacity in the country is only 40 kilo tons. Indian VFY companies lack the production technology for high-end fine-denier filament, so domestic downstream producers will have more options by the cancellation of the tariff. Costs will obviously decrease, and the competitiveness of their own products will improve, which is likely to bring more demand and create a virtuous circle.
