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British Wool has rolled out its much-anticipated shearing courses, now accessible on their website, generating enthusiastic feedback from eager participants. Renowned globally, these courses cater to diverse skill levels, offering tailored instruction from novice (Blue Seal) to expert (Gold Seal) stages.
With an aim to enhance flock shearing proficiency, foster career pathways, and prepare participants for top-tier global competitions, the curriculum addresses multifaceted objectives.
Available nationwide, the one-day on-farm training sessions cover the spectrum from novices to seasoned shearers traversing international circuits. Led by seasoned instructors, over 100 courses are slated from April to August, spanning two days each, drawing over 800 attendees last year.
A key highlight is the extension of exclusive training opportunities to young farmers, irrespective of prior experience, with a generous 50 per cent discount on shearing courses throughout their membership tenure.
Richard Schofield, Shearing Manager, expressed gratitude for the collaboration with Young Farmers Clubs (YFC), underscoring the pivotal role of members in nurturing the UK's shearing talent pool.
Propelled by Flipkart’s stellar performance during its annual Big Billion Days (BBD) sale in 2023, Walmart recorded a remarkable surge in international sales during Q4, FY24.
The US retail giant witnessed a substantial 17.6 per cent Y-o-Y growth in international sales to $32.4 billion with a 13 per cent increase in constant currency terms, reaching $31.2 billion. Notably, Walmart's subsidiaries in Mexico (Walmex) and China also contributed significantly to this growth, leveraging festive occasions.
Doug McMillon, CEO hailed the 2023 Big Billion Days as the best ever. The strategic shift of Flipkart's BBD from Q3 to Q4 notably bolstered international growth for the quarter, he said, Attracting a record 1.4 billion customer visits, the event underscored Flipkart's robust performance in the Indian market.
John David Rainey, Chief Financial Officer, emphasised India, Mexico, and China as pivotal drivers for the company's international business growth in the coming years. Walmart's acquisition of a 77 per cent controlling stake in Flipkart in 2018, followed by subsequent stake increases, now stands at 80.5 per cent. The Bengaluru-based e-commerce giant competes fiercely with Amazon and Reliance in the Indian market.
In a bid to further expand its presence in India, Walmart recently hosted its inaugural growth summit in the country, the first of its kind outside the US, Chile, and Mexico. This event underscores Walmart's commitment to tapping into new suppliers and achieving its ambitious goal of sourcing $10 billion worth of goods from India annually by 2027.
Statutory body under the Ministry of Education in India, the University Grants Commission (UGC) has issued a directive urging higher educational institutions to incorporate khadi products in their ceremonial events such as seminars, conferences, and workshops. This move aligns with the Prime Minister's call in 2015 to prefer khadi products and promotes the ethos of Aatmanirbhar Bharat (Self-reliant India).
On February 15, 2024, Manish Joshi, Secretary, issued the directive emphasising the use of eco-friendly khadi products like angavastram and shawls for felicitation purposes. The directive aims to reaffirm India's ties with the freedom struggle while showcasing the nation's rich textile tradition. Additionally, it seeks to empower local artisans and promote their craftsmanship.
The backdrop of this directive includes previous circulars issued by the UGC. On January 15, 2024, the Commission reminded universities of circulars dating back to July 15, 2015, and June 7, 2019. These circulars urged universities to consider using handloom fabrics for ceremonial robes during special occasions such as convocations. The Commission highlighted the comfort of handloom fabrics in India's climate and noted that many universities had already made the switch to handloom fabrics.
However, some universities had yet to adopt this practice, prompting the UGC to reiterate its recommendation. The use of handloom fabrics not only fosters a sense of national pride but also supports the handloom industry, which provides employment opportunities, especially in rural areas.
Moreover, the UGC emphasised the importance of sharing the actions taken by universities regarding the use of khadi and handloom fabrics. Universities were encouraged to upload photographs, videos, and other documentation on the UAMP portal.
The directive underscores Prime Minister Narendra Modi's advocacy for khadi and the revival of handloom traditions, citing Mahatma Gandhi's association with khadi during India's struggle for independence.
In line with the directive, the UGC has urged vice-chancellors to disseminate the advisory on khadi and handloom fabrics to colleges affiliated with their universities, thereby encouraging broader adoption of these traditional Indian textiles in academic ceremonies and events.
Tummala Nageswara Rao, Minister of Agriculture has urged the Cotton Corporation of India (CCI) to persist with cotton procurement in Telangana due to the significant surplus of the crop among farmers.
During the 2023-24 kharif season, farmers cultivated cotton across 44.92 lakh acre, yielding an estimated 25.02 lakh tons. CCI, in collaboration with the State government, established 285 cotton purchase centers, acquiring 12.31 lakh tons valued at Rs 8,569.13 crore from over 5.36 lakh farmers at the minimum support price. Private traders procured an additional 4.97 lakh tonnes from farmers.
As the third picking of cotton progresses in some districts and farmers still hold quantities from previous pickings, an additional 7.1 lakh tons are anticipated from farmers. With international cotton prices remaining high due to increased demand, Rao emphasised the necessity for CCI to maintain purchasing operations.
Discontinuing CCI purchases could negatively impact market prices and detrimentally affect the farming community. In instances of lower-quality cotton arrivals, CCI may determine prices based on availability, as per established practices.
Sri Lanka Export Development Board (EDB) collaborated with Sri Lanka Missions in the US to organise the Sri Lanka Country pavilion at the ‘Sourcing at Magic Exhibition’ in Las Vegas, US.
One of the globe's largest fashion marketplaces, ‘Sourcing at Magic Las Vegas is held biannually at the Las Vegas Convention Center. It offers a dynamic fashion experience where buyers and brands explore new trends, connect with industry insiders, and forge business connections. The event showcases men's and children's apparel, footwear, accessories, and manufacturing resources from worldwide
This year, the event featured eleven Sri Lankan companies, leveraging Sri Lanka's reputation for manufacturing excellence in South Asia. These included Timex Garments, Aitken Spence (Garments), Eskimo Fashion Knitwear, Trendywear Adhikarigama, Nobleswear, Garment Services Meegoda, Colmans Garments, Nasna Impex Garments Industries, Rainco Industries, and Insomnia. All these companies exhibited a diverse range of apparel products at the Sri Lanka Pavilion, catering to the US market.
Participating in the country focus session, Indika Liyanahewage, Chairman, Sri Lanka Garment Exporters Association, shared insights into Sri Lanka's sustainable and ethical manufacturing practices in the garment sector, highlighting ongoing improvements.
This year, the exhibition featured nearly 1,000 exhibitors from over 35 countries, representing manufacturing, supply chain, and fashion technology sectors. The Sri Lankan participant firms received positive inquiries, indicating potential future business opportunities. Buyers expressed interest in smaller orders, aligning well with Sri Lankan companies' capabilities.
The Vietnam International Trade Fair for Apparel, Textiles, and Textile Technologies (VIATT) is poised to make its debut from Feb 28-Mar 1, 2024, at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City.
Spanning 15,000 sq m, VIATT will welcome over 400 exhibitors from 16 nations and regions, including Bulgaria, China, Germany, Hong Kong, India, Indonesia, Italy, Japan, Korea, Pakistan, Switzerland, Taiwan, Thailand, the UK, the US, and Vietnam. These exhibitors will showcase cutting-edge innovations and solutions across the entire textile value chain, encompassing apparel fabrics, yarns, fibers, garments, home textiles, technical textiles, nonwovens, textile processing, and printing technology.
Among the highlights of VIATT include six country and region pavilions from China, Japan, Korea, Pakistan, Taiwan, and Thailand, each presenting state-of-the-art technology and market trends. Notable exhibitors at the exhibition include Idole Trading (China); Uni Textile (Japan); Hohmann (Germany); Groz Beckert (Germany); Thermotech (Taiwan) and Technical Absorbents (United Kingdom).
Developed in collaboration with Texpertise Econogy, the fringe program of VIATT will feature events like fashion shows, seminars covering design, technology, sustainability, and market strategy, as well as workshops offering insights into natural dyeing and clothing upcycling.
Organised by Messe Frankfurt (HK) and the Vietnam Trade Promotion Agency (VIETRADE), VIATT promises to be a comprehensive platform connecting stakeholders across the textile industry value chain.
Bangladesh's textile industry is experiencing mixed fortunes, with knitwear exports experiencing a significant boost while woven apparel faces challenges. According to the Export Promotion Bureau (EPB), knitwear exports surged 8.15 per cent between July and January, to reach a value of $16.17 billion. This is in contrast to woven apparel exports, which dipped slightly by 2.20 per cent during the same period.
Despite global economic uncertainties like the Russia-Ukraine war and high inflation impacting textile demand, knitwear has emerged as a preferred choice in the market. Faruque Hassan, President, Bangladesh Garment Manufacturers and Exporters Association (BGMEA), attributes this to knitwear's affordability, comfort, and versatility.
The positive trend for knitwear is further supported by export data. In December 2023, knitwear exports reached $2.49 billion, followed by a further increase to $2.71 billion in January 2024. Year-on-year comparisons also show significant growth, with knitwear exports rising from $24.71 billion in 2022 to $26.55 billion in 2023.
Meanwhile, exports of woven apparels have remained relatively stable, with a slight decline from $20.99 billion in 2022 to $20.82 billion in 2023. This suggests that the current market conditions may be impacting woven apparel demand more than knitwear.
The Philippine garment industry faces a challenging year ahead, with revenues expected to remain flat in 2024 as unfavorable economic conditions dampen demand in key export markets. The Foreign Buyers Association of the Philippines (FOBAP) has revised its earlier growth projection of 2 per cent down to 0 per cent due to concerns about slowing economies in the US, Japan, and Germany.
Citing a lack of new production orders, Robert Young, President, FOBAP, expressed concern over the ‘rather unstable business climate’ in the coming quarters. He explained that foreign buyers are increasingly turning to regional suppliers, further impacting Filipino exports. Coupled with potential recessions in major markets, this trend could lead to a decline in production orders for Philippine garment manufacturers, he warned
However, despite these challenges in the garment industry, Philippine service exports increased by saw a 20.7 per cent in the first nine months of 2023, reaching $34.7 billion. This growth could potentially offset some of the losses in the garment sector.
The news highlights the vulnerability of the Philippine economy to external factors, particularly the performance of major trading partners. The government may need to explore diversification strategies and focus on strengthening the service sector to mitigate the impact of global economic slowdowns.
Luxury fashion giant, Prada Group has hastened its shift to sustainability by joining the Sustainable Markets Initiative’s Fashion Task Force.
Chaired by technology entrepreneur and sustainable fashion pioneer Federico Marchetti, the Fashion Task Force was founded in 2021. It aims to drive proactive programs to hasten the fashion industry’s shift to a more sustainable future. Prada Group will contribute to bringing about change and quickening advancement in the current focus areas as a member.
Lorenzo Bertelli, Head-Corporate Social Responsibility, Prada Group, says, brands can face the complexity of the modern world and improve their operations by building on everyone’s valuable expertise and achieving common goals in sustainability.
Marchetti adds, Prada with a cohesive group of leading brands striving for one shared purpose of creating fashion in harmony with nature, is an excellent fit for the Task Force.
Over the years, the Task Force has worked on a number of projects such as the introduction of the Digital Product Passport during the G20 meeting in Rome and programs centred on regenerative agriculture in areas like the Italian region of Apulia and the Himalayas.
Besides the Prada Group, the Fashion Task Force also includes leaders from high-end fashion companies, platforms, and retailers such as the Aura Blockchain Consortium, Brunello Cucinelli, Burberry, Chloé, Gabriela Hearst, Giorgio Armani, Puig, Moda Operandi, and Zalando.
With cotton prices soaring to unprecedented heights globally, India stands at a pivotal juncture. The surge in international markets presents an opportunity for export growth, yet it also poses significant risks to the domestic textile industry's sustainability. This conundrum creates a complex landscape for India, with potential benefits and pitfalls for both its farmers and textile manufacturers.
Global cotton price surge: India's competitive edge
Cotton prices have skyrocketed by over 15 per cent this year, hitting record highs in international markets. Various factors contribute to this surge, including reduced production in key cotton-producing countries like Australia, coupled with an increase in demand that outpaces supply. Additionally, speculative buying by hedge funds exacerbates the inflationary pressure on prices.
Despite these global dynamics, Indian cotton remains the most competitively priced in the world. This places India in a prime position to capitalize on the export potential, potentially doubling cotton exports to over 25 lakh bales. Such a surge in export demand promises higher returns for Indian cotton farmers, thereby boosting their incomes.
Challenges in the domestic market
However, the unprecedented rise in cotton prices presents challenges for domestic textile manufacturers. These companies struggle to absorb the increased costs and may find it difficult to pass them on to consumers without compromising their competitiveness. Moreover, India's recent decision to remove import duties on cotton further complicates the supply-demand dynamics in the global market.
Furthermore, while experts anticipate continued strength in cotton prices in the near future, there looms the ominous risk of a bubble burst. If the current global price rally proves unsustainable and prices plummet, Indian exports could suffer a severe blow, jeopardizing the gains made in the short term.
Sustainability concerns and long-term stability
Amidst export opportunities, sustainability concerns cast a shadow over India's cotton industry. Increased exports could deplete India's domestic cotton reserves, raising questions about the industry's long-term viability. Sustainable practices are imperative to safeguard the interests of both farmers and the textile industry, ensuring their resilience in the face of future uncertainties.
Navigating the Cotton Market: A delicate balance
The current scenario presents India with a unique opportunity to capitalize on the global cotton boom. However, prudent navigation is essential to maximize the benefits while mitigating the risks. Balancing export potential with domestic challenges, such as rising costs for textile manufacturers, and prioritizing long-term sustainability will be critical for India to harness the full potential of this volatile market.
In conclusion, India's cotton industry stands at a crossroads, poised between unprecedented export opportunities and looming risks of market instability. By adopting a strategic approach that prioritizes sustainability and long-term stability, India can emerge stronger and more resilient in the global cotton market.
