Feedback Here

fbook  tweeter  linkin YouTube
Global contents also translated in Chinese



India has launched an anti-dumping investigation into imports of jute goods from Bangladesh to see whether export prices are set below fair market prices. The probe is part of India’s plan to impose an anti-dumping duty on jute items imported from Bangladesh.

Bangladesh fears that if India imposes an anti-dumping tariff on Bangladeshi jute goods, this could deal a heavy blow to Bangladeshi millers and exporters and further widen the already huge trade gap between the two countries. Anti-dumping tariff is a penalty imposed on suspiciously low-priced imports, to increase their price in the importing country to protect local industry from unfair competition.

Bangladesh exports jute goods like yarn, twine, sacks and bags. Of the total exports, around 20 per cent goes to India. Other major destinations for Bangladeshi jute items are Turkey, Iran, Egypt, China and the US.

The country gives a cash incentive to encourage jute production and exports, but the cash incentive is decreasing gradually. At present, it stands at five per cent for yarn and 7.5 per cent for other jute goods. The Bangladesh jute industry feels if the anti-dumping duty is imposed, Indian consumers will suffer and will be forced to use plastic bags.

The slowdown in European economies and the Trans-Pacific Partnership agreement may affect Bangladesh’s external trade in 2016. A protracted slowdown in the European Union could hurt exports. Implementation of the Trans-Pacific Partnership, of which Bangladesh is not a member, could also erode the competitiveness of exports to TPP member countries, which account for around one-fourth of Bangladesh’s exports.

The TPP trade deal signed among 12 nations accounts for nearly 40 per cent of the global economy. In addition, the country has to cope with political uncertainty and a weak banking sector. A resumption of political violence or heightened uncertainty would adversely impact investment, growth, and lead to inflation. Continued weakness in the banking sector could undermine credit and growth prospects and affect fiscal sustainability.

Moreover, the outlook for remittances in 2016 is uncertain. While worker outflows have recovered, persistent low oil prices could eventually affect investment and employment in key host countries. From a broader perspective, natural disasters and global climate change pose major risks for Bangladesh.

The bright spot is that Bangladesh enjoys significant cost and scale advantages. Linkages with large emerging market economies and international financial markets remain limited, cushioning against potential shocks from these sources.

New Delhi will host Tex-Styles India from February 22 to 24, 2016. This is the seventeenth edition of the event. The fair will display the whole supply chain of the textiles industry --- from yarns to finished products, which include suitings, shirtings, dress fabrics, made-up items, outer wear and jackets, pants, skirts, one-piece dresses, blouses, shirts, tunics, cut and sew garments, textile gifts, knits, shawls, yarn, fibers, threads, trimmings, embellishment and accessories, furnishings and home textiles, and garments. It will present a wide range of Indian textiles from all sectors of the industry, which includes loom and composite mills sectors.

Tex-Styles India has established itself as the largest fair of Indian textiles held in India. Tex-Styles India is a mega textile event supported by all major textile promotional bodies viz. industry, councils, associations and related ministries and departments of the government of India. The Indian textile industry will spread out its repertoire of merchandise having significant business potential and appeal.

India Trade Promotion Organisation, the premier trade promotion agency for organising trade fairs, showcases excellence achieved by the country in diverse fields especially trade and commerce. Apart from its role in bringing Indian businesses, particularly those in the medium and small scale sector, closer to global markets, it was the first to popularise trade fairs as a tool of trade promotion within the country.

Despite stalling growth across Asia led by a slowdown in China, the Chip Bergh, Global President and CEO of Levi Strauss & Co remains upbeat about consumer spending in the region. According to him, the demographics work to their advantage and they are strategically focused on Asia as a result of that.

China’s economy, whose explosive growth over the past decade propelled the country to one of the world’s fastest-growing consumer markets, has been stumbling of late. Gross domestic product (GDP) for 2015 was 6.9 per cent, marking its weakest pace in a quarter of a century. Most parts of Asia, especially those with close trade ties with China, have felt the chill from the slowdown in the region’s growth engine.

Analysts say, the region still boasts of a rapidly-growing population and a booming middle class. In China, for instance, only 11 per cent of the 1.3 billion population has reached ‘middle class’ status, according to a January report from Goldman Sachs. ‘As their ranks swell, so will their effect on the global economy,’ the report added.

For a global brand such as Levi’s, this is good news.

Indian textile major Welspun India has reported a 21.3 per cent increase in consolidated profit to Rs 174.08 crores for the third quarter ended December 31. The company had posted a net profit of Rs 143.57 crores in the October-December period a year ago. Domestic retail sales continue to witness robust growth and year to date growth stands at 52 per cent. Net sales of the company on a consolidated basis were up 12.19 per cent.

Operating EBITDA zoomed by 17.8 per cent in the third quarter of financial year ’15. Operating EBITDA margin increased 161 bps at 26.9 per cent, versus 25.3 percent in the third quarter of financial year, mainly on account of higher share of innovative and branded products. Net worth stands at Rs 18,332 million as on December 31, 2015.

Welspun India, part of the $3 billion Welspun Group, is among the top three home textile companies in the world. With a distribution network in more than 50 countries and world class manufacturing facilities in India, it is the largest exporter of home textile products from India. Supplier to 14 of the top 30 global retailers, the company has marquee clients like Bed Bath & Beyond, Costco, Kohl’s, Target, Walmart and Macy’s.

Intertextile Shanghai Home Textiles-Spring Edition, will commence from March 16 to 18 at Hall 5.2 Shaghai’s National Convention & Exhibition Center. This is follows Messe Frankfurt’s successful conclusion of Heimtextil Frankfurt in January 2016. March is the peak sourcing season in China for finished products, particularly bedding items, and this market has been growing rapidly in recent years. According to market research conducted by CCPIT, 2015 domestic bedding sales in China reached $49 billion, an increase of 2.7 per cent compared to 2014. Reflecting this growth, a number of top domestic bedding suppliers, including Bejirog, Beyond Group, Esteem Home, Fuana, Luolai, Menglan and South Bedding Series have confirmed their participation in March’s Spring Edition.

Held alongside this fair are four other textile events. These include Intertextile Shanghai Apparel Fabrics – Spring Edition, Yarn Expo Spring, PH Value and CHIC, and together these five fairs create an unrivalled platform in the textile industry to meet potential buyers. The Autumn Edition of Intertextile Shanghai Home Textiles will be held from August 24 to 27, 2016 and is expected to extend from three to four days in order to assist exhibitors to take advantage of these strong market conditions prevailing in China.

Intertextile Shanghai Home Textiles – Spring & Autumn Editions are organised by Messe Frankfurt (HK); the Sub-Council of Textile Industry, CCPIT; and the China Home Textile Association (CHTA).

Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA) will hold the 15th Textile Asia 2016 International Textile & Garment Machinery Trade Fair incorporating Clothing, Fabric & Textile Asia in Karachi in collaboration with Ecommerce Gateway . Termed Pakistan’s biggest B2B textile, garment, embroidery, digital printing machineries and chemical and allied services, the 3-days trade fair will be held from March, 09-11, 2016.

The trade fair will provide an effective podium for joint ventures/ collaborations to the textile SMEs and provide a platform to its international participants to meet respective Pakistani business personals to make future business leads in Pakistan.

The event will focus on the immense buying selling potential of textile and garment industry and poised to introduce overseas suppliers of textile and garment materials, accessories and parts and machinery to the textile industry of Pakistan. This will complement their efforts for high quality, value added products and assist them to further develop their business in the export markets.

The trade fair will have more than 550 International Brands displaying their products in over 700 booths and over 500 foreign delegates mainly from Austria, China, Czech Republic, France, Germany, India, Italy,Korea, Taiwan, Turkey, UK,USA etc. will grace the event.

The organizers are expecting a visitor turnout of over 65,000 during the event.

Century Textiles and Industries has said its standalone net loss has narrowed down to Rs 10.41 crores in the third quarter ended December 31. Century had reported a net loss of Rs 63.58 crore in the October-December period a year-ago. The company’s net sales on a standalone basis were up 4.58 per cent at Rs 1,875.66 crores as against Rs 1,793.51 crores in the corresponding period of the last fiscal. Revenue from textiles division, which manufactures yarn, cloth, denim, tyre yarn and VF yarn, was up 4.72 per cent to Rs 453.32 crore as against Rs 432.85 crore.

However Century’s, cement division was down 1.12 per cent to Rs 1,047.38 crores as against Rs 1,059.28 crores a year ago. The pulp and paper division sales were up 26.53 per cent to Rs 499.15 crores in Q3 FY2015-16 from Rs 394.47 crores. Others which include salt and chemical business was down 4.85 per cent to Rs 26.68 crores as against Rs 28.04 crores.

The spinning industry in India still faces problems despite power tariff reduction at Rs 3 per unit that is insufficient to bring back its competitiveness, but its quality yarn is bringing back global buyers being disappointed by inconsistent and low quality Indian yarn.

Last 18 months have been a nightmare for the energy intensive Indian spinning and weaving sectors due to high power tariff and general energy shortages despite the Indian government’s efforts to boost its yarn and fabric exports by providing subsidies on the export of these two items. The government later announced further subsidy on a few focused market that included Pakistan. Chinese shifted their orders from Pakistan to the Indian spinners. Some large fabric manufacturers also preferred cheaper Indian yarn over the expensive domestic product.

Yarn exports from Pakistan are slowly picking up as some Chinese importers have agreed to buy at higher rates. Still around 110 spinning units are closed creating supply concerns. The spinners are determined that they will not export their goods at loss. The current prices offered by the Chinese buyers though a little higher are not attractive enough to warrant reopening of the closed units. Industrial slow down in China a month before the Chinese New Year which is cited as the reason for low prices offered by few Chinese importer, which was not attractive enough. Pakistani weavers in the meantime have stopped importing Indian yarn and are buying it locally at a higher price.

Pakistan’s spinning industry has for the last one decade been operating at much higher power tariff than regional economies and still remained competitive. The reason for high tariff was dependence on high cost furnace oil for power generation. The other regional economies generated minimal power from furnace oil.

California-based American Apparel, after a win in US bankruptcy court, during which a judge ruled in favor of the retailer's reorganization plan, the company's new chief is out to remind shoppers about what makes American Apparel unique: Its dedication to US manufacturing.

‘Made in the USA’ has been rooted in American Apparel's DNA since the company was founded 27 years ago. But CEO Paula Schneider, who took the company's reins one year ago, said that message had gotten lost amid some ‘salacious’ advertising, and controversial headlines regarding founder Dov Charney.

The new strategy of the American Apparel is introduced after years of raunchy advertising and a slew of allegations against its former CEO. Now, the company is hoping a renewed interest in American-made products will bring shoppers back into its stores. We have the opportunity to keep people employed, and it's kind of a bit of call to action for people to come to shop, Schneider said.

About 7,500 of American Apparel's 8,700 employees work in Los Angeles, where it manufactures all of its apparel ‘right down to the strings that are in the hoodies. Over the next few months, the American Apparel will up the ante on its ‘Made in the USA’ promise, via a new a crowd sourcing campaign. Through this campaign, the retailer will invite local artisans to submit their designs to management, with the intention of bringing a yet-to-be determined amount onto its selling floor.

Page 2523 of 2938

VF Logo