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The World Trade Organisation will set up a panel to examine America’s allegations against certain alleged export subsidy measures in India.
The US has dragged India to the WTO's dispute settlement mechanism over export subsidies, saying that these incentives were harming American companies.
WTO members, including India, are required to provide subsidies consistent with WTO provisions, including refraining from providing subsidies contingent upon export performance.
The US has alleged that India appears to be providing such subsidies through various export promotion programs, special economic zones and duty-free imports for exporters.
The US alleges that India continues to grant these export-contingent subsidies and even expanded the scope and scale of the subsidies. India says the schemes identified by the US do not violate India's WTO obligations and are in conformity with all elements of the agreement.
India’s exports to the US stood at 42.21 billion dollars in 2016-17, while imports aggregated at 22.30 billion dollars during the same fiscal.
The programs targeted by the US include popular incentive schemes such as the Merchandise Exports from India Scheme, Export-Oriented Units Scheme and sector-specific schemes, including Electronics Hardware Technology Parks Scheme, Special Economic Zones, Export Promotion Capital Goods Scheme and Duty-Free Imports for Exporters Program.
In the first four months of the year, export turnover of Vietnam’s garment and textile sector rose by 14 per cent against the same period last year, fulfilling 39 per cent of the yearly plan.
Last year, the garment and textile sector grossed an export turnover of more than 31 billion dollars.
The productivity of neighboring countries like Laos and Cambodia has exceeded that of Vietnam. In fact Vietnam’s productivity is only one tenth compared to Singapore’s.
Successfully addressing issues regarding the labor force may provide Vietnam a key to open the door to the world amid the fast-paced industrial revolution.
Vietnam has a target of 35 billion dollars in total textile and garment export value for this year. Enterprises have been asked to fully exploit the working capacity of their workers as well as restructure their management practices to improve labor productivity.
Besides maintaining and developing export markets, enterprises are focusing on developing new markets, including linkages with the distribution system in the local market.
In order to deal with the possible crisis brought by the fourth Industrial Revolution, Vietnamese firms proactively conduct training sessions in order to improve their human resources’ capacity.
Incentives are being given to encourage firms to invest in technological advances. Workers’ welfare is also of focus to boost productivity sustainably.
Turkey’s textile industry is looking for greener pastures outside its traditional radar.
The situation in Turkey’s neighborhood -- Syria, Iraq, Lebanon but, partly, also in Russia – has impacted Turkish textile exports.
So the country is looking at the markets of Asia, Western Europe and North America, which have a large middle-class consumer base.
As Turkey’s textile exports grow, the country’s textile manufacturing companies will have to upgrade their machinery, parts and components, as well as the manufacturing processes.
Turkey’s textile exports surged in 2017. The overall textile products category, which includes not only home and technical textiles but also fabrics and garments, touched a whopping 157 billion dollars in total exports; home textiles exports alone amounted to 2.7 billion dollars in 2017, while garment exports amounted to 17 billion dollars in the same year.
The aim is to reach 500 billion dollars by the year 2023.
Turkish textile companies are also being encouraged to consider technical collaboration with foreign partners. For instance Turkish upholstery manufacturers are being urged to work with furniture suppliers from Malaysia and Indonesia.
Bursa, the country’s textile hub, is planning to set up an ambitious 4.0 industrial production zone called Teknosab on a 8,500 acre land and deploying robots and automation.
Balenciaga, a high-end European luxury brand, is cashing in on what many have branded as a fashion faux pas.
This is a T-shirt shirt. The new line, from its fall 2018 collection, is basically a T-shirt with a shirt sewn on top of it. From the back it looks like any other tee, but from the front it looks like fashion gone bizarre. Made from 100 per cent cotton, the T-shirt shirt casual topper is available in three sizes.
The wearer has the option to wear the short sleeve shirt with front drape effect or the long sleeve shirt with back drape effect.
Fashion lovers were clearly not impressed by the weird garment and mocked it across social media. Some even wondered if it was a joke. The price? $US 1200.
Pioneer of the cocoon coat, the balloon skirt, and the high-low hem, Cristóbal Balenciaga’s eponymous house was founded in Paris in 1919. Today, the label integrates subversive and experimental designs with iconic house codes. Passionately followed by fashion insiders, Balenciaga continues to introduce new architectural shapes, custom fabrics, and luxe leather accessories.
Balenciaga are the masters of convincing their customers to part with large amounts of their money while making them look ridiculous.
Since 2011, the cotton industry has struggled under high stock levels, initially in China, but now more outside China.
Broader merino wool is often blended with acrylic and some polyester.
Polyester, the big gorilla of fibers, is frightening even cotton. Polyester staple fiber has lifted in price since 2015, but is trading at a relatively modest rank of 41 per cent.
The US price is a little more restrained than the Australian dollar price due to falling exchange rates since 2014. The average merino price has returned to its peak level of 2011. The average merino price is therefore close to the top of its range of the past ten years.
In terms of percentile ranks the merino price is performing better than the major fibers but acrylic and cotton have high percentile ranks as well. Apparel fiber prices have generally lifted from low levels in 2015, rising in varying strength up cycles. The performance of cotton is even more impressive than the merino price given its stock levels.
While the merino wool price ratio to other fibers is extreme, the major fibers have been trending higher in US dollar terms since 2015. Cotton, despite a heavy handicap of high stock levels, is managing to trade at its ten year 77th percentile level.
In terms of percentile rank, acrylic and cotton are not too far behind merino wool prices. The case for wool exceptionalism is not as strong when other fiber prices are considered.
p>Pitti Immagine Uomo will be held in Italy, June 12 to 15, 2018.
This is a fashion tradeshow for menswear and contemporary lifestyle and serves as a space focusing on research into menswear and boosting the forward-looking edge of fashion through its various sections.
This year, the fair is set to be more of a lifestyle-oriented tradeshow than a regular business event for participating brands and buyers.
The event has garnered a lot of interest owing to its combination of important runway shows, a plethora of high-quality specially-designed events that reflect the theme of the season, and the constant renovation of its spaces.
The theme for this year is P.O.P. Pitti Optical Power, which revolves around the concept of optical illusions. It is suggestive of a visual and virtual spectacle that elicits new horizons of perception and perspectives on reality.
A new space spread across 500 square meters that doubles as a bar and lounge aims to make the Pitti experience a bit different by also hosting conferences apart from the regular exhibits and showcases.
The P.O.P. Arena is designed in a hypnotic style by designer Sergio Colantuoni, in line with this season’s theme. Decorated in optical technicolor, the space will make the Pitti experience even more enjoyable for exhibitors and visitors alike.
Pakistan’s exports of textile and clothing increased 8.13 per cent during first ten months of the current fiscal year.
Products that contributed to positive growth in external trade include raw cotton, knitwear, yarn, bed wear exports, towels, readymade garments, silk and synthetic textiles.
Textile exports make up around 60 per cent of the country’s total exports. The textile sector has the largest share in Pakistan’s exports.
Pakistan’s competitors are upping the ante on textile exports to make inroads into more global markets. While China’s share in global textile exports is 36 per cent, Vietnam contributes 12.4 per cent, and Pakistan contributes seven per cent.
Various problems are being faced by the country’s textile sector including the high cost of doing business, multiple taxes and surcharges.
Pakistan predominantly being a textile export economy is struggling to maintain its share in global textile markets both in basic and value added textiles. Pakistan is the only country in the region that saw its total textile exports decline by ten per cent between 2011 and 2018.
Other economies like China, India, Bangladesh, Sri Lanka and Vietnam grew their exports at a compound rate of 20 per cent or more during the same period.
Cotton producers in Oklahoma, US, liken growing the crop to a 24-hour road race.
It’s about trying to predict how the environment is going to affect the crop and manage it to those environmental factors that could potentially cost yield, capitalize on them to increase yield or maintain the yield. With cotton, maybe there’s a little more attempting to mitigate risk. But like any crop, the goal is to be profitable.
Oklahoma wants to muscle its way to the front of the US cotton scene. In the short term, a program will be established that evaluates different agronomic practices that ultimately will help producers lead more efficient operations.
In November 2017, the US Department of Agriculture Crop Production Report ranked Oklahoma fourth in the US in cotton production with an estimated 1.1 million bales.
Last year, there were 5,55,000 acres of cotton harvested in the state. That number is up from 2,90,000 in 2016 and 2,05,000 in 2015.
Oklahoma, along with Texas and Kansas, represents the only part of the US where cotton acreage is both growing and stabilizing. Oklahoma is very quickly emerging as a force in cotton production.
Generally, the longer the growing season cotton enjoys, the better. However the newest acres being devoted to the crop are in some of the shortest season environments in the nation.
The Odisha government recently approved five investment proposals worth Rs 1,508 crore which will create employment opportunities for 2,155 people.
The proposals were approved at the 78th meeting of the State Level Single Window Clearance Authority (SLSWCA), chaired by Chief Secretary Aditya Prasad Padhi.
The SLSWCA accorded approval to IOCL to set up a polyester products manufacturing unit of 324 KTPA capacity at the textiles park in Bhadrak district.
The project, which will create direct and indirect employment for 185 people, will act as an anchor and help in supplying feedstock or raw material to the downstream technical textile industries which will come up in the textiles park.
The SLSWCA also approved the proposal of one of the leading manufacturers of aluminium extrusions to set up a greenfield manufacturing unit at the Angul Aluminium Park with a capacity of 40,000 metric tonnes (MT) per annum.
Odisha is one of the largest producers of sweet potato, recording 16.38 lakh ton in 2016-17. Sweet potato flour finds its use in Food Processing Industries.
The fifth investment proposal approved by the SLSWCA was that of a Kolkata-based company which will invest Rs 62.1 crore to establish an integrated cold chain service unit at the seafood park at Deras in Khordha district.
Jimmy Choo is upbeat over the luxury footwear brand’s prospects and is working hard to widen its appeal to millennial consumers as well as retaining its core, slightly older customer base.
The company has expanded its accessories design team and will transition out of older accessories groups.
Jimmy Choo’s pro-forma revenue is expected to rise around ten per cent in fiscal 2019. That sales rise is predicted to come on the back of its red carpet activity, as well as on continuing development of its core 24/7 collection and on more trend-focused fashion active offerings being added to the wider range.
On the store front, the company plans to increase the pace of openings adding around 30 net new locations in fiscal 2019. Jimmy Choo believes there is meaningful opportunity to expand its global presence with a particular focus on Asia.
The new team is working diligently to introduce multiple new collections over the coming seasons.
Jimmy Choo hopes to be a billion dollar brand.
