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Moral Fiber, an Indian-American startup based in Los Angeles uses science to make fashion everlasting.
The company, previously named Ambercycle, was started in 2015, by co-founders Akshay “Shay” Sethi, a biochemistry and molecular biology graduate from University of California, Davis, and his classmate Moby Ahmed.
While at University, the two youth worked with microbes to break down polyesters, and discovered during the process the three-step chemical process.
The three-step process is being tested in a pilot plant in Los Angeles. The plant is powered by incinerating the material that is left over in the processing, basically forming a sustainable cycle. The founders expect to switch to solar power to run the machinery in the future. But by 2020, Sethi and Ahmed hope to begin sending the shipping container size “box” to countries which have a growing and large middle-class with high consumption levels.
As revealed the by the Textile Ministry, the US is the top export destination for apparel made in India with a share of 17 per cent, followed by the EU, Bangladesh, China, Pakistan, UAE, Vietnam, Sri Lanka, Brazil and South Korea, respectively
Indian companies face higher trade barriers, compared to other competing countries like Bangladesh, Vietnam and Pakistan, in the US and European Union, Parliament was informed Wednesday.
The average tariff on textile products faced by India in the EU and US is 5.9 per cent and 6.2 per cent, respectively.
In comparison, Pakistan faces zero per cent and 5.3 per cent average tariff in the EU and US, respectively; for Bangladesh it is zero per cent and 3.9 per cent; whereas Vietnam attracted 6.1 per cent and 5.5 per cent tariff.
India’s market share in home textile exports to the US in October has increased one percentage point from the year ago to 33 per cent.This is the second consecutive month of market share gains.
The gains come after a period of business disruption. Transition to the online marketplace and the resultant reorganisation at traditional retailers had led to inventory destocking. This impacted the sales of Indian textile exporters. The impact was accentuated by the reduction in duty drawback rates for most textile product categories under GST.
But heading into 2019, some of these headwinds are already easing. One is the recovery in export volumes. After a weak start in 2018, India’s exports to the US in terry towels and cotton sheets showed a year on year growth of 24.2 per cent and 7.2 per cent in the past three months.
Another is the revision of the duty drawback rates. The increase of duty drawback up to 0.6 percentage points across home textile products and the rupee depreciation are a welcome relief to the textile space.
This will help exporters claim more incentives, strengthening their competitive advantage.
Yet another key variable is cotton prices which began easing. The softening of headwinds should aid companies’ earnings in 2019.
India will boost exports from labor-intensive sectors such as agriculture, textiles, leather, handicrafts and more.
This will be done with incentives amounting to Rs 600 crores. Merchant exporters will be included under the interest equalisation scheme for pre- and post-shipment rupee export credit by allowing them interest equalisation rate of three per cent on such credit for export of products covered under 416 tariff lines identified under the scheme.
The subsidy scheme is expected to increase production and also generate employment in these sectors, which generally are micro, small and medium industries.
There have been challenges for the export sector over a period of time and one big challenge is credit. There has been a sharp decline in credit to the export sector.
Another challenge the export sector is facing is related to GST. A e-wallet mechanism may be introduced to effectively address the woes of exporters who have been complaining of delays in refund of taxes under the GST regime.
To reduce transaction costs for exporters, there may be multi-modal transport, which will help enhance efficiency in the logistics sector. Each logistics company will be rated by a regulatory organisation, which will be created by the industry.
India’s exports grew by a meager 0.80 per cent in November. During April to November, exports rose 11.58 per cent.
India needs to improve its cotton productivity drastically if it is to remain a net cotton exporter. The country’s cotton yield has not increased during the last few years. As against the world average of over 770 kg per hectare, productivity of cotton in India is about 500 kg per hectare.
Since there is hardly any scope for further increase in the acreage under cotton in India, the only way to match the increasing consumption of cotton domestically is to increase productivity.
The day is not far off when consumption of cotton in India will surpass production, and India, which is today a net cotton exporter, will become a net cotton importer.
Cotton is an important cash crop in India, which provides employment to over 60 million farmers and others connected with production, processing and marketing.
India is world leader in terms of the acreage under cotton. Over one-third of the total cotton acreage in the world is in India. India is the largest cotton producer, the second largest exporter next only to US and the second largest consumer next only to China.
India’s huge textile industry is mainly cotton based and there is a huge opportunity of value addition.
According to True Fit, a global data platform for fashion industry that decodes personal style, fit, and size for consumerism Brits amass £32,951 worth of unworn clothing in their wardrobes over a lifetime. This is equivalent to the average cost of a wedding or university fees for undergraduate degree.
Research involved over 2,000 consumers. According to the report, the average British woman will stash £22,140 worth of unworn clothing in their wardrobes - the equivalent to a house deposit for a first-time buyer - while men accumulate on average £10,811 of garments they will never wear.
With British women forecast to spend £29.4 billion on clothing this year alone, nearly half of UK female shoppers (45 per cent) admit to having bought something online that they have never worn or have only worn once (44 per cent) because of difficulties choosing items in the right style, fit, and size for their unique personal characteristics and preferences.
With only 1 in 2 (44 per cent) of the UK's garments fitting them properly, the average Brit admits they only wear three quarters (74 per cent) of the clothing in their wardrobes. When it came to finding clothes they love, and choosing the right style, fit, and size, jeans proved the trickiest item to shop for online for both men (15 per cent) and women (21 per cent), followed by trousers (12 per cent), boots (5 per cent), dresses (4 per cent) and heels (4 per cent).
Durst, a manufacturer of advanced digital printing and production technologies, has entered into a 50/50 joint venture with printing press manufacturer Koenig & Bauer for the joint development and marketing of single-pass digital printing systems for packaging industry.
Durst will combine its expertise with the market presence and mechanical engineering of the Koenig & Bauer Group, which, with more than 5,700 employees, is one of the world's major suppliers of packaging and banknote printing.
The joint venture will develop fully automated production lines and distribute worldwide. The digital transformation is also in the packaging industry, as the ever-changing requirements can no longer be met with conventional production technologies. Unlike in the graphics industry, an inkjet press alone is not enough, but there is a need to integrate different peripheral systems into a fully automatic production line.
The new joint venture company will be based in Germany and will also manage the service and ink business in close cooperation with the global network of both companies.
In 2018, the difference in take-home salary amongst the workers under Wage Management System (WMS) and other workers ranged from 2 percent in Turkey to 11 percent in Indonesia. These increases were not driven by a difference in overtime hours. In 2017 the difference ranged from 8 percent higher take-home wages in Bangladesh to 29 percent in Indonesia.
H&M introduced the improved Wage Management System (WMS) in 2013 in factories where it sources apparel items from and it implemented the "fair wage method" in 20 garment units in Bangladesh.
Around 930,000 garment workers work in factories that are either implementing improved WMS or have democratically elected worker representation -- or, as in most cases, both.
The WMS helped factories become fairer and more transparent in the way they work with individual wage setting.
The Rwanda government is on track to deal with the trade imbalance. The Made-in-Rwanda programme has made a significant contribution towards realising this goal.
Statistics from the Ministry of Trade and Industry show that since the start of Made-in-Rwanda campaign in 2015, Rwanda’s total exports have increased by 69 per cent, from $559 million to $944 million in 2017 while total imports decreased by 4 per cent, from $1.849 billion in 2015 to $1.772 billion in 2017. As a result, the total national trade deficit has decreased by 36 per cent since 2015.
Rwanda had a trade deficit (imports outweighing exports) of $1,017.32 million as of September 2018, according to central bank statistics. This is largely because the country does not produce everything that it needs.
To put this into perspective, Rwanda imports mainly food products, machinery and equipment, construction materials, petroleum products and fertilisers. Moreover, its exports are dominated by traditional products such as coffee, tea and minerals like tin, coltan, wolfram and cassiterite.
DTG, an apparel and textile machinery show will be held in Bangladesh, January 9 to 12, 2019.
This showcases the latest machinery, technology, chemicals and raw materials for the garment and textile industry of Bangladesh. Some 1,200 companies and brands are expected to take part.
Among the participating countries are Bangladesh, China, Germany, Hong Kong, India, Indonesia, Italy, Japan, Malaysia, Singapore, South Korea, Spain, Switzerland, Taiwan, and Turkey.
This exhibition connects local apparel and textile manufacturers and exporters with foreign manufacturers, dealers and suppliers. It will also focus on the untapped markets that are flexible and important for Bangladesh.
Also, the participants will be able to identify business contacts with the prospect of entering into subsequent business negotiations with manufacturers in Bangladesh. The exhibition provides an opportunity for apparel and textile manufacturers to have a practical knowledge of technological advances available without having to go abroad. Local and foreign manufacturers, dealers and suppliers can showcase their products and Bangladesh garment and textile factory owners and exporters can connect with them.
Bangladesh’s apparel industry is progressing with a vision of being a 50 billion dollar industry by 2021. One of the core strengths of the country is the mass automation brought about within the industry which not only brings down costs, but also ensures quality output.
