FW
India’s spun yarn exports in July 2016 plunged 36 per cent in volume terms and value terms. Indian spinners faced a fall in their margins and found it difficult to compete on the international market. Thus, Bangladesh became the largest importer of spun yarns from India in terms of value in July.
In July 2016, 83 countries imported spun yarn from India, with Bangladesh at the top, accounting for 18 per cent of the total value with imports rising 24 per cent year on year in terms of volume and 22 per cent in value. China ranked second in July and accounted for around 18 per cent of all spun yarn exported from India. Peru was the third largest importer of spun yarns. These three top importers together accounted for around 42 per cent of all spun yarns exported from India in July.
China has significantly reduced cotton yarn imports from India. In July, India’s cotton yarn exports to China plunged 75 per cent year on year, both in terms of shipment and value.
In 2016, China’s cotton yarn imports dropped 30 per cent year on year. Imports from India declined 49 per cent. This significant drop is likely to impede Indian exports in coming months since China has now trained its eye on supply from Vietnam.
Well-known manufacturer of high quality components for man-made fiber processing, Retech is going to present a significant range of solutions for thermal treatment and drawing in the field of synthetic yarn production at ITMA ASIA 2016 + CITME 2016 to be held from October 20- 24 in Shanghai. The company has achieved a leading position in the market for heated godet rolls that are working in spin-draw plants all around the world. The initial equipping of new machines in close cooperation with the leading machinery manufacturers is the driver for innovation. Cooperation with important yarn producers, who develop new polymers and processes, gained importance in recent years.
Retech's components and installations are important links within the textile value added chain. As the market leader, the company possesses extensive know-how in design and construction of heating and drawing elements in order to provide high technology installations with excellent customer service.
The Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) chairman Shaikh Mohammad Shafiq has said members of the association are thankful to PM Nawaz Sharif and FM Senator Mohammad Ishaq Dar for introducing zero rated regime ‘No Payment No Refund’ for five export oriented sectors viz value-added textiles, carpets, surgical instruments, sports goods and leather.
Shafiq said despite hurdles, the business community engaged with readymade garments was making strenuous efforts for enhancing the export in the larger national interests. He cited the high cost of doing business and said it has started hitting the textile industry badly. This was evident from the growing number of factory closures in the sector. As cut-throat competition with countries like Vietnam, Bangladesh and China is also giving a tough time to Pakistan’s exporters.
As far as wages are concerned, while the minimum wage is around $68 in Bangladesh, in Pakistan it is $125 and rising. The Pakistani government gives a rebate of 4 per cent on incremental basis while its competing countries offer on wholesome export as does Bangladesh. He wants the government to take drastic steps for enhancing exports and addressing the problems of industrial sector.
Nepal has appealed to the European Union to extend the Generalised System of Preference (GSP) facility in exports as a support to the local economy to recover from the devastating earthquakes last year which was then followed by months-long border blockade. The EU has been planning to phase out GSP facility which was extended to least developed countries (LDCs) from the beginning of 2017. Citing the blow to Nepal’s economy due to the massive temblor and disruptions of supply lines due to the border blockade in the southern plains, the Nepalese government has requested the EU for extension of the facility, says Rajendra Singh, senior officer at the Trade and Export Promotion Centre.
Like Nepal, other LDCs have also been requesting the 28-nation bloc for an extension of the facility as they are incapable of strengthening their economy sans the facility due to various circumstances. EU has been offering zero duty facility for products (except arms and ammunitions) manufactured in the LDCs during imports to the European market.
The EU had adopted a reformed GSP law on October 31, 2012 which offered zero tariff facility to the LDCs to provide them level with playing field in the markets of developed countries. The developed countries offered this facility so that the industrial (production) base of the LDCs could be strengthened. Every year, the European Commission submits its report on GSP in the European Parliament.
Mayer & Cie's Spinit 3.0 E technology that combines three operations viz. spinning, cleaning and knitting would be officially launched in the Chinese market this October. The machine, which will be unveiled at ITMA Asia + CITME, scheduled for October 21 to 25, 2016 in Shanghai. This is the first machine type to be equipped with Mayer & Cie’s spinit systems technology.
This three-in-one concept, presented at the 2015 ITMA in Milan in the shape of the market-ready Spinit 3.0 E, is a completely new approach by Mayer & Cie. Using false twist spinning process, roving is converted directly into high-quality knitwear. According to Mayer & Cie, the benefits of the Spinit jersey can be felt as well as seen. The resultant fabric is very soft, fluffy and even, with a slight sheen and the stitches do not twist after washing.
There are also numerous pattern options which are made possible with the fancy module, a system which enables the Spinit to vary the fineness of yarn during the production process and create entirely new patterns that cannot be knitted in any other way.
India is likely to chalk out amendments to its existing tax treaty with Singapore, on the lines of those achieved with Mauritius. Speaking at the 13th international tax conference, organised by Assocham, Akhilesh Ranjan, Chief Commissioner of Income Tax (International Taxation) said there may be small variations and some fine tuning but substantially similar to the amendments effected in the India-Mauritius treaty. Elaborating on the issue, Ranjan said that talks are going on and there are some procedures to be followed. Modalities are on. This remark is significant as it indicates that India would strive for attaining the taxing right on sale of shares of an Indian company, by a Singapore-based tax resident.
The existing India-Singapore tax treaty provides for residence-based capital gains taxation, capital gains on sale of shares would be taxable only in the country of residence of the seller, subject to satisfaction of limitation of benefits clause. With India-Mauritius tax treaty amendments notified, all eyes are now on how India-Singapore tax treaty would get reshaped. This is because the amendments in the Mauritius treaty would also result in the withdrawal of capital gains exemption for investors based in Singapore with effect from April 1 next year. At present, investments through Singapore accounts for nearly 16 per cent of foreign direct investment (FDI) (from April 2000 to March 2016) in India, second only to Mauritius.
Due to the ongoing political dispute, illegal protests and tough competition, more than 70 garment and footwear factories in Cambodia have been closed down in the first eight months of this year. Garment Manufacturers Association in Cambodia (GMAC) operations manager, Ly Tek Heng says the political situation has affected business. Political issues, illegal demonstrations and competition from other garment and footwear exporting countries like Vietnam, Bangladesh and Myanmar had deterred investors from investing in Cambodia and made buyers reluctant to order from the country. In the first eight months this year, more than 70 factories have been shut down while only 20 new ones opened. This came as orders dropped by almost 30 per cent, forcing closures and slashing of working hours.
Contesting Heng’s claim, commerce ministry spokesperson Soeng Sophary downplayed the news saying closures did not mean the industry was under threat. She blamed global insecurity for the closures citing the upcoming presidential elections in the United States, the recent referendum in Britain, as well as the high price of electricity.
Contrary to GMAC's figure of a 30 per cent drop in buyer's orders suggesting trouble in the garment sector, recent figures released by the Commerce Ministry painted a far better picture. The ministry stated that total garment and footwear exports in the first quarter of this year increased by 39 per cent to $2 billion. The garment and footwear industry, which is the kingdom's biggest foreign currency earner, has some 1,000 factories employing 754,000 workers.
The special highlight of the Yarn, Fabric & Accessories Trade Show (YFA) show to be held from November 23 to 26, this year will be the Denim Zone. The zone will see 20 top Indian denim fabric makers exhibiting their denim innovations. Another the highlights would be ‘YFA Talent’, a fashion designing contest for upcoming talent from leading fashion designing institutes. The organizers have also arranged a conference in association with TIT-Bhiwani and the Textile Association of India (TAI).
One more initiative is Titoba, an alumni meet with a gathering of more than 800 top industry professionals in association with TIT Bhiwani and also the Textile Association of India (TAI). There will also be a special Chinese Pavilion where around 40 Chinese exhibitors will showcase yarns, fabrics and garment accessories. WGSN, the global authority on fashion trends will be the Trend Partner and will also be putting up a Pavilion.
In the 2015 edition, the show had as many as 100 exhibitors and more than 7,477 visited the show. For the upcoming show, the organizers expect over 250 brands from many countries and more than 15,000 visitors, who too are expected from 15 countries. Their optimism stems from the fact that with still more than 100 days to go, nearly 80 per cent of the space has already been booked mainly driven by returning exhibitors who have booked bigger stalls having got good results at the last edition.
All this has led to the organizers doubling the exhibition space from one hall in 2015 to two halls for the 2016 edition, which will feature products from fibres to yarns to fabrics and finally accessories. The event will attract renowned suppliers from in these four segments.
The fair is being organised by Vision Communications, supported by the Northern India Textile Mills Association (NITMA) along with AEPC (Apparel Export Promotion Council), TA(I) (Textile Association of India), PDEXCIL (Power loom Development Export Promotion Council), CMAI (Clothing Manufacturers Association of India), FOHMA (Federation of Hosiery Manufacturers Association), NAEC (Noida Apparel Export Cluster), NITRA (Northern India Textile Research Institute), UP Apparel Exporters Association and PTA Users Association as supporting associations.
The global hosiery market is expected to grow at a compound annual growth rate of around four per cent in the next four years. Hosiery includes socks, tights and pantyhose and nylons. In terms of revenue, the socks segment dominated the global hosiery market in 2015 with a share of more than 69 per cent. The growth of socks segment is mainly driven by the increasing demand for socks from the age group up to 14 years and the age group 15 to 64.
Consumers look for quality, durability, fit, style, and glamour while purchasing hosiery products. Not only is the market for women’s hosiery rising, the demand for such goods is rising from the men's segment too because these days even men follow new trends in fashion and apparels.
The e-commerce sector is a major driver propelling the growth of the hosiery market. Online retail stores save the consumer's time, give product availability at doorsteps, and offer products at discounted prices. In terms of region, the e-commerce market in North America is the fastest growing market with nations like the US and Canada dominating the share.
Europe has a 34 per cent share of the global hosiery market. Major factors contributing to the growth of this region is the rising demand for socks from the working population; where women’s hosiery generates the highest revenue.
With innovations chemically protective suits made of fabric coated in self-healing, thin films may prevent farmers from exposure to organophosphate pesticides, soldiers from chemical or biological attacks in the field and factory workers from accidental releases of toxic materials.
The material to be coated is dipped in a series of liquids to create layers of material to form a self-healing, polyelectrolyte layer-by-layer coating. This coating is deposited under ambient conditions in safe solvents, such as water, at low cost, using a simple equipment amenable to scale-up.
During the layering, enzymes can be incorporated into the coating. Polyelectrolyte coatings are made up of positively and negatively charged polymers. Many toxic substances can be absorbed through the skin. Organophosphates, used as herbicides and insecticides, are absorbed through the skin and can be lethal. Some of these chemicals have also been used as nerve agents. A garment coated with a self-healing film containing an organophosphate hydrolase, an enzyme that breaks down the toxic material, could limit exposure.
For manufacturing environments where hazardous chemicals are necessary, clothing coated with the proper enzyme combination could protect against accidental chemical releases. Future use of these coatings in medical meshes could also help patients minimize infections for quick recovery.
