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Next edition of Planet Textiles 2018 will be held on May 22 in Vancouver in partnership with the Sustainable Apparel Coalition at the Sheraton Wall Centre. Here delegates will hear new ideas on how sustainable innovations in the textile supply chain can be scaled up from the pilot phase and implemented at a commercial scale.
Planet Textiles will feature real-world examples and original case studies of companies that have already managed to scale up sustainability and will revealing new innovations, chemistry and textile technology.
John Mowbray, Director of MCL News & Media which is co-hosting the event explains, “Planet Textiles 2018 aims to deliver a wealth of new ideas and practical solutions from cutting edge thinkers as well as the latest technology breakthroughs, all wrapped up in a brand-new event format.” The organisers are still accepting content ideas for the event which will feature short technology pitches and interesting new ways to present innovations.
These are just some of the tough hurdles that developers of new environmental technology need to keep in mind as they attempt to attract financial investors and brand backers. Planet Textiles 2018, will not only have sessions on financial models and mechanisms available to help innovators move beyond the pilot scale, but will also have case studies on how textile companies have successfully applied new investment to grow and what true investment costs actually look like.
This year’s format will also change as for the first time they will have the #PlanetTextilesPod where they will be filming interviews with key personal and a new #TeninTen session where they will select key innovators to pitch their technology or service to delegates in a maximum 10-minute time slot.
The event will also take place one day before the Sustainable Apparel Coalition member meeting – in the same venue making it easy for members to move between the two events. Registration is now open with early bird discounts available.
Marks and Spencer (M&S) is set to enhance sourcing of apparel from Bangladesh. The brand which has doubled its sourcing from Bangladesh in the last two years is planning to raise it imports further to $1.0 billion as against the existing $800 million.
M&S Chief Executive Officer, Steve Rowe speaking says, “Bangladesh continues to progress and its facilities, skills and the development we discussed today in terms of infrastructure, there are further opportunities to grow our business here." He held a meeting with leaders of Bangladesh Garment Manufacturers and Exporters Association (BGMEA). The M&S delegation also included its Chairman Archie Norman, Managing Director Jill Mcdonald, Director of Sourcing Mark Lindsey and Country Manager Shwapna Bhowmick. President of the BGMEA Md Siddiqur Rahman, Vice President Mohammed Nasir, the Federation of Bangladesh Chambers of Commerce and Industry President Shafiul Islam Mohiuddin, among others, were also present at the meeting.
Rowe said infrastructure was the challenge that needed to be addressed in Bangladesh. The BGMEA President said they have explained the government's recent measures taken to address all issues and was confident in the next couple of years the existing situation would improve. M&S country manager said currently, the company is sourcing from around 79 factories and aim to raise their import to $1.0 billion of value-added apparel items.
The Ministry of Finance (MOF) is mulling the prospect of providing more incentives for The Micro, Small and Medium Enterprises (MSMEs) that comply with the requirements of GST regime, including access to loans at discounted rates, in an attempt to reward early adopters and encourage others to ensure compliance. MSMEs have been at the forefront of the protests against GST. Many of these enterprises operated in the informal economy and several sneaked away by paying a minor part of the taxes that they should actually have paid however the new tax regime has hit them hard. MSMEs that supplied to large companies were told to comply with the new GST regime. If they didn’t, the larger companies couldn’t claim input tax credit. The proposed incentives are meant to complement the drive to integrate the cash-driven unorganised sector with the formal sector. This has been a major policy focus of the new government.
Difficulty in accessing credit is a big hurdle MSMEs face in doing business, especially as many of them do not have immovable assets to offer as collateral, however, the GST Council, the federal indirect tax body led by finance minister Arun Jaitley has been rationalising tax rates and compliance requirements for MSMEs considering the employment potential of the sector. Only about 5 per cent of the MSME sector, which accounts for a total sale of Rs 40 trillion a year, has access to formal finance from banks, said Praveen Khandelwal, secretary general of the Confederation of All India Traders (CAIT).
The initial revenue shock following the roll out of GST has eased in October with states steadily improving collections aided by relaxations in deadline, waiver of late payment fee and steps to encourage compliance.
India is likely to export nearly one-fifth less cotton than previous forecast as pink bollworms are eating into the country’s crop which was expected to hit a record, industry officials disclosed. Lower exports from the world’s biggest producer will help its rivals like the US, Brazil and Australia to raise their exports to Asian buyers such as Pakistan, China and Bangladesh.
Exporters say this year’s exportable surplus was expected to be around 6 million bales. Production estimates have been revised downwards following the pest attack. Earlier, official forecast was exports of 7.5 million bales of 150 kg each. A 19 per cent hike in the area planted for cotton was good reason for industry officials to estimate record production of 40 million bales in the 2017-2018 season starting on October 1, however, cotton farmers saw as harvesting started fields were infested with pink bollworms which consume the cotton fibre and seeds inside the boll of the plant. This issue was extensively seen in Maharashtra, the country’s biggest cotton producer.
Bollworm infestation occurred even as Indian farmers adopted genetically-modified seeds such as Bt cotton that are resistant to the pest. The government approved the seed in 2006. The technology transformed India into the world’s second-largest exporter of the fibre, however, pink bollworms are now developing resistance to technology, noted V N Waghmare, Director of Central Institute for Cotton Research.
Two years post the devastating fire in the Tazreen Fashions factory in Bangladesh, an agreement was reached with C&A to establish a fund, with contributions from brands sourcing from the factory, which would provide for loss of income payments and long-term medical treatment. The payments were concluded in June 2016 and a medical trust is still overseeing long-term medical treatment for the injured. In many cases of small factory incidents affected families are not compensated at all.
The compensation arrangements set up post the Tazreen fire and the 2013 Rana Plaza collapse, based on ILO Convention 121, laid the groundwork for a more structural and permanent solution in the form of a National Employment Injury Insurance Scheme. Such a scheme however is still in progress of being developed, Clean Clothes Campaign is therefore advocating a bridging solution to be established as soon as possible to cover those affected by factory incidents till such an Employment Injury Insurance scheme is operational.
Delwar Hossain, the owner of Tazreen Fashions, still has not been held accountable for the negligence which directly contributed to the deaths of these workers.
Many Chinese companies feel Brexit will lead to more investment opportunities, making UK a much more attractive destination to do business with, says a new survey. The Ipsos Mori poll assesses the attractiveness of Europe and the UK as investment destinations. Majority of Chinese respondents said they were likely to make future investments in the UK because post Brexit.
A total of 360 companies from China, Germany, France, the UK, and the US participated in the poll which was commissioned by Brussels-based investment trade association, Invest Europe. 58 per cent of the 81 Chinese companies that disclosed their preference said they were more likely to invest in the UK during the next five years. The participating Chinese companies conduct operations in a numerous sectors and have either made the decision to invest internationally in the last 12 months, or have previously considered investing in a European company.
Michael Collins, Chief Executive of Invest Europe, says the results reflect the potential for new trade relations between the UK and other international markets, including China. He feels companies might see a way in which, post-Brexit, the UK might become even more open to foreign direct investment than it has been in the past. Some international companies may be banking on continued favourable pricing of sterling-denominated assets, following a drop in the value of the pound post Brexit.
In the poll, 55 per cent of investors from Germany and 52 per cent of investors based in France said they were less likely to invest in the UK because of its decision to leave the EU. Fifty two per cent of respondents from the United States said Brexit would not change their investment plans in relation to the UK.
The government of Bangladesh has set April 2018 as the deadline for completing remediation works in readymade garment factories inspected under the joint initiative of Bangladesh government and the International Labour Organisation. The Department of Inspection for Factories and Establishments (DIFE) recently started holding meetings with factory owners on evaluation progress and demanded a removal of all the safety faults in their units by April 2018.
DIFE inspector general Md Shamsuzzaman Bhuiyan said, they are holding meetings with the factories housed in their own buildings to evaluate remediation progress and the factory authorities have been asked to complete remediation by April 2018. He threatened owners if any factory inspected under ILO supported national initiative failed to fix all faults by the set deadline, they would have to face legal action. He further announced the DIFE would not permit renewal of licence for noncompliant RMG units after the deadline.
As per DIFE statistics, around 1,549 garment factories, which remained outside the purview of the inspection conducted by two buyers’ groups Accords and Alliance had been inspected under the national initiative. Post completion of initial inspection in November 2015, factories registered about 20 per cent progress in remediation in last two years.
DIFE inspector general said of the 1,590 factories, inspected under the national initiative, 513 have been closed, 64 relocated to new buildings, 14 located in economic zone areas and 178 factories added to the list of global buyers’ platform — Accord and Alliance. Currently they are monitoring remediation work in 780 factories under the government initiative. Of these 312 factories are housed in their own buildings while 468 housed in shared and rented buildings. The labour ministry would convene a meeting of National Tripartite Committee to discuss ways to punish non-compliant factories post the remediation deadline.
Apparel exporters gained over others in the segment during the September quarter (Q2) of this fiscal. Fabric and garment maker Raymond recorded profit of Rs 62 crore when compared to a net loss of Rs 7 crore in the pre GST quarter of April-June. KPR Mill, Kitex Garments and Gokaldas Exports, for which exports are the mainstay of business, saw revenue or profit either improving or steady over both the June quarter (Q1), pre GST rollout and Q2 a year before.
On the other hand Arvind, whose garmenting business is equally focused on the domestic market, saw the impact of GST rollout of 28 per cent on branded apparel with their Q2 bottom line fallng over Q1 this year. Analysts report was a marginal reduction in domestic demand in the month post GST rollout, despite a slight growth in exports. For instance, KPR Mill saw its garment production increase year-on-year from 30.48 million units in Q2 last year to 39.41 mn this year.
Prashant Agarwal, Joint Managing Director, Wazir Advisors points out overall apparel export from India to the US grew six per cent in Q2 as against the previous year's Q2, however, for overall top textile players, consolidated sales declined by five per cent and Ebitda margins declined by an average of four per cent. Further, Ebitda margin remained the same or declined for most companies. A rise in net profit of some, according to Wazir Advisors, such as Raymond, Kitex and Gokaldas Exports, was primarily due to higher other income.
Arvind’s Jayesh Shah, Chief Financial Officer, feels second quarter turned out to be another challenging one for the industry, with GST implementation impacting our domestic textile business. Even consumer-facing brands business was impacted in July as both wholesale and retail channels were under pressure. However, the brands business saw strong performance in August and September leading to good growth overall. Going forward, they expect the transition impact of GST to settle and revenue growth to return to normalcy.
Under its new multiproduct branding strategy, Baba Ramdev has now lined up Patanjali Textiles. The Bodoland Territorial Autonomous Council (BTC) authority in Assam has gone out of its way to help Patanjali, the Indian FMCG company, to set up its textile unit in Assam to produce a variety of textile fabric. This was announced by Patanjali’s promoter Ramdev at Kokrajhar in western Assam where he inaugurated a three-day yoga therapy and meditation camp in the presence of hundreds of participants.
Patanjali Ayurved, has started commercial production at its newly-set up factory at Balipara in Sonitpur district of Assam earlier this year. The land for the unit was provided by the Assam government on lease to Patanjali at a cost of Rs 13.82 crore. The factory was completed within five months. He now plans to set up about 75 units with an investment of Rs 6,000 crore. The manufacturing area is spread over 450 bighas of land.
Patanjali’s venture in the Bodoland areas will facilitate development and creation of employment opportunities in the area. It is expected that direct employment opportunities will be created for more than 5,000 people in the industrial units, while capacity production target valued at Rs 1 lakh crore is forecast for the next five years.
Avers D.P.Kumar, Executive Director TEXVALLEY that we deliver the results, not promisses, that will take our business associates/ patrons business and investment to the next level. While participating here in yfa trade show 2017 to promote & propagate this 'Textile Market' where the overarching theme is "The only textile market which will bring all categories of buyer network to your business place". The management is of firm belief that any textile products can be showcased and marketed here to reach out domestic, national & international buyers. The management is trying to project this concept as INDIA's regional gateway for Indian cotton textile sourcing. Also this framework supports and creates the opportunity for forwarding integration in the textile ecosystem. Texvalley Ecosystem boasts of offering 360 degree solutions to the textile world at large.
A quick glimpse of the available resources and infrastructure reassures its primacy both in terms of its strategic location within Indian Textile & Apparel business hub & instrinsically its robust business model (Texvalley is formulated under "Public-Private Partnership framework").
As we write it is a well rounded 'Product Based Zone & Selling Platform'. Says Kumar Texvalley is not only an excellent place for textile business but also offers a prime investment opportunity with the promise of high returns. And as a testimony It already has an envious list of brands available at Texvalley.
As we are seriously committed to promote it through multi modal channels. As a matter of fact the management is comprehensively looking into the factors that can contribute to increase the business and profits of all our stakeholders to really make it a wholesome business success.
