28th September 2021, Mumbai:

ShuHaRi software and e-learning solutions have been launched by JUKI America, Inc., a wholly-owned subsidiary of Japanese sewing technology firm JUKI Corporation.

The ShuHaRi app, which is available for free download, is meant to assist JUKI sewing machine users with everyday machine maintenance by providing step-by-step instructions directly on their smartphones.

According to JUKI, the app provides a step-by-step learning method and is derived from the Japanese term "Shu Ha Ri," which means "to maintain (Shu), apply (Ha), and develop (Ri) the fundamentals."

Users of the ShuHaRi app may access daily, 3-month, and 6-month inspection modules, each of which records the inspector's identity as well as the inspection findings. Users may also use the app to buy new components for their JUKI equipment, which will be shipped straight to their factory's purchasing department, making maintenance and upkeep as simple as possible.

The e-learning program, on the other hand, is paid and is designed to educate people and organizations in the sewing industry with various modules on training a sewing machine operator or management in sewing machine plants – whether or not they own a JUKI machine.

“The garment and manufacturing industries were among the most impacted during the Covid-19 pandemic, and the scarcity of trained technicians and teachers in these disciplines has been a significant burden,” Sebastian Vasquez, JUKI America Manager, said of the launches.

If there is a silver lining to our current condition, it is that we have entered a new digital era in which equipment maintenance may be as simple as downloading an app, and education can be as simple as taking online courses.

That is why we are excited to make the new ShuHaRi app and e-learning solutions available to sewing machine operators and plant managers across the Americas.”

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

Return to homepage

25th September 2021, Mumbai:

The method for issuing duty credit for products exported under the tax refund program Remission of Duties and Taxes on Exported Products has been announced by the finance minister (RoDTEP).

In August of this year, the RoDTEP plan issued tariffs for 8,555 items, including marine, agricultural, leather, jewels, and jewelry.

The stated export FOB (Freight On Board) value or up to 1.5 times the market price of that item, whichever is smaller, would be used to calculate duty credit under the program, according to a department of revenue announcement.

It stated that the duty credit would be granted in place of remission of any duty, tax, or levy imposed on any material used in the production or processing of products destined for export, and if such tax is not exempted, remitted, or credited under any other program.

The notice said, "The Central Government now informs the way in which duty credit would be issued for products exported under the Scheme for Remission of Duties and Taxes on Exported Products subject to such criteria and limits as indicated."

For the current fiscal year, the government has set aside Rs 12,454 crore for reimbursements under the program. Various government and state tariffs, taxes, and levies levied on input items, for example, would be reimbursed to exporters under this arrangement.

It also stated that duty credit under the scheme for exports to Nepal, Bhutan, and Myanmar would be granted only after the sale proceeds were realized against irrevocable letters of credit in freely convertible currency established by importers in these countries in favor of Indian exporters for the value of such goods.

Return to homepage

23rd September 2021, Mumbai:

The Gujarat Dyestuffs Manufacturers Association has awarded Huntsman Textile Effects with the ‘Top Exporter of the Year' title. Huntsman Textile Effects is a major global producer of high-quality dyes, chemicals, and digital inks for textile-related sectors (GDMA).

Huntsman Corporation, a publicly listed global maker and marketer of differentiated and specialty chemicals expect to generate roughly $6 billion in sales in 2020. Ranjeeth Kumar, Commissioner, Ministry of Small and Medium Enterprises, Government of Gujarat, gave the award, which recognizes excellence indirect exports of dyes and dye intermediates from 2018 to 2019, at an event in Ahmedabad recently. The prize was given to Kavishwar Kalambe, Huntsman Textile Effects' Site Director-Baroda.

“We are ecstatic to receive this honor and recognition from the GDMA's highest organization.

It demonstrates Huntsman's contribution to India's and Gujarat's export profits, as well as its dedication to playing a key role in the sector's and region's economic prosperity,” said Kavishwar Kalambe. Huntsman runs a cutting-edge worldwide dyes and chemicals production facility in Padra, Gujarat's designated industrial zone. Over 800 people are employed directly and indirectly at the plant, which spans 62 acres.

Return to homepage

28th September 2021, Mumbai:

In the post-COVID age, sustainability mixed with quality appears to be the way ahead in business, and Jodhpur (India)-based handicraft start-up Furnweave Handicrafts Pvt. Ltd. is hoping to expand its turnover to Rs.4 crore in FY '22.

Despite a short-term setback caused by the COVID-19 epidemic in 2020, Furnweave met its objective in FY '21, which concluded in March, with a revenue of over Rs. 1 crore.

The ecstatic Furnweave and its team have decided to increase their production capacity in a systemic manner in the manufacturing facility located in Jodhpur – a city known for its beautiful handicraft history – as consumer demand for home textile and furnishing products grows in today's time when people are looking for products with longevity and durability that remain as core requisites.

The firm, which was formed in the second part of FY '20 by two young entrepreneurs Himanshu Agrawal and Mayank Maloo, is a premium maker of specialized handcraft goods such as Charpai, Bench, Stools, Tables, Storage Box, Basket, Chairs, Night Lamp, and Step Stool.

Charpai/WoodenKhaat is the most memorable bespoke memento that comes out of the company's production plant, according to Apparel Resources. Charpai/WoodenKhaat is essentially an Indian bed that is portable, extremely environmentally friendly and a part of the historical culture and tradition.

To make its high-end items, the firm employs all sustainable materials, such as recycled plastic, polyester textiles, PET bottles, and waste saree fabric. Furnweave has worked with craftsmen skilled in weaving who live in the surrounding villages and outskirts of Jodhpur to achieve this.

“As part of our efforts to make manufacturing more environmentally friendly, we utilize cotton, jute, recycled Saree ropes, and recycled plastic to manufacture our goods, and we believe this is the way ahead in present times,”

Himanshu Agarwal, Co-founder, Furnweave, told Apparel Resources. Himanshu also revealed that his firm has recycled over 10,000 kg of saree trash to date, with the amount expected to rise to around 50,000 kg in FY '22 due to the growth scheduled for FY '22.

Mayank Maloo, the co-founder of Furnweave, said of the development, "We are in no way in rivalry with other firms." We aren't in the business of selling low-cost, low-quality goods.

The only reason we have such a narrow product basket with an ‘average' beginning price of roughly Rs. 7,000 is because we know quality works well with quality consumers.

Today's client is no longer seeking low-cost things made of non-renewable resources, and the consumer industry, whether it's clothes or handicrafts, is being pushed by such conscious shoppers.

There is a major shift in the industry, and we understand what clients want from a responsible firm like ours.” It's worth mentioning that Furnweave's declaration of tripling its turnover also opens up a lot of job opportunities in the handicrafts and weaving industries in Jodhpur and its environs.

“We are aware of our social responsibilities as well. Our development plans seek to enhance this industry and the livelihood of the craftsmen who have been involved in it for a long time, as we have ties with weavers in and around the city,” Himanshu said.

TOP 5:

1. 'CMAI' urges government to review GST rates increase on fabrics and garments

2. Raymond launches new collection with designer 'Suket Dhir'

3. Amitabh Bachchan roped in as 'VKC Group’ new brand ambassador

4. 'Manyavar-Mohey' receives flak for advertisement featuring Alia Bhatt

5. GOVERNOR OF MAHARASHTRA HONOURS KAPIL PATHARE WITH BUSINESS EXCELLENCE AND VIP INNERWEAR AS BEST BRAND 2021-22

Return to homepage

24th September 2021, Mumbai:

E-commerce firms Amazon, Flipkart, and others are expected to witness blockbuster festive season sales this year as an increasing number of consumers are shopping online at a higher frequency than last year, as per consulting firm RedSeer’s e-commerce festive season report.

As per this report, the gross merchandize value of festive sales is expected to grow 30 percent year-over-year to $4.8 billion during the first week of the festive season and potentially clock over $9 billion GMV during the whole festive month This is a 23 percent increase from last year wherein the e-commerce players clocked a GMV of $7.4 billion.

The overall online GMV is expected to increase 37 percent over last year to touch $49-52 billion. Growth will be mostly driven by the accelerated online adoption which has been witnessed as an effect of COVID. Secondly, Tier-II-plus cities and towns will continue to drive growth as they are 55-60 percent of the total shopper base this year, similar or higher than 57 percent in 2020 festive days.

The RedSeer report finds the sellers are bullish on this year’s sales and are looking to recover the losses suffered due to COVID. Flipkart plans to kick off the country’s festive season with the 8th edition of its biggest flagship event, The Big Billion Days (TBBD), from October 7-12.

The six-day event will see millions of consumers, sellers, small businesses, artisans, Kiranas, brands, and e-commerce ecosystem partners come together for the upcoming festive season.

Amazon has also announced this year’s ‘Great Indian Festival sale. The event will go live around the festive season in India this year.

The event would allow hundreds of thousands of small and medium businesses (SMBs) to offer a unique selection to customers.

TOP 5:

1. 'CMAI' urges government to review GST rates increase on fabrics and garments

2. Raymond launches new collection with designer 'Suket Dhir'

3. Amitabh Bachchan roped in as 'VKC Group’ new brand ambassador

4. 'Manyavar-Mohey' receives flak for advertisement featuring Alia Bhatt

5. GOVERNOR OF MAHARASHTRA HONOURS KAPIL PATHARE WITH BUSINESS EXCELLENCE AND VIP INNERWEAR AS BEST BRAND 2021-22

Return to homepage

22nd September 2021, Mumbai:

Memos reviewed by Reuters show, India's plan to tighten rules on its fast-growing e-commerce market has run into internal government dissent. The Ministry of Finance has described some of these proposals as excessive and economically irrational. This would compel policymakers to rethink the new rules, says Suhaan Mukerji, Managing Partner, PLR Chambers, a law firm specializing in public policy issues.

India in June shocked the e-commerce world with proposals from its consumer affairs ministry that sought to limit 'flash sales', rein in a push to promote private-label brands push and raise scrutiny of relationships between online marketplace operators and their vendors. Though the rules were announced after complaints from brick-and-mortar retailers about alleged unfair practices of foreign companies, they also drew protest from Tata Group, with more than $100 billion in revenue, which is planning an e-commerce expansion.

The Finance Ministry, the Ministry of Corporate Affairs and NITI Aayog have all raised objections in memos reviewed by Reuters, saying the proposals go far beyond their stated aim of protecting consumers and also lack regulatory clarity. The proposed amendments are likely to have significant implications/restrictions on a sunrise sector and 'ease of doing business', said the three-page memo raised on August 31.

Rajiv Kumar, Vice Chairman, NITI Aayog says, the rules could hit small businesses. Moreover, they send the message of unpredictability and inconsistency in the government’s policy-making, he adds.

Return to homepage

25th September 2021, Mumbai:

Almost A year after the Maharashtra government received the report from the special investigation team (SIT) created to look into the problem of unlicensed transgenic cotton seed sales, no action has been done.

The SIT, led by IPS officer Krishna Prakash, delivered its findings in October after conducting an extensive investigation into the matter, which has turned into a significant policy concern in the country.

60-65 lakh packets of unapproved herbicide-tolerant (Ht) Bt cotton were distributed among the 4-4.5 crore packets of cotton seeds sold in the country this season. In India, cotton is the only genetically modified crop that may be grown commercially.

Only BT cotton (obtained by introducing the foreign genes Cry1Ab and Cry2Bc) is allowed. Aside from that, farmers prefer the second generation of BT cotton or herbicide-tolerant HT Bt cotton (which includes another foreign gene, Cp4Epsps). This transgenic version permits farmers to employ the broad-spectrum weedicide Glyphosate, which Bt cotton cannot tolerate.

Given this benefit, weed management accounts for more than 40% of the total cost of production. Farmers are increasingly putting their faith in Ht Bt cotton since agricultural labor is both scarce and expensive.

This transgenic variant's seed is frequently obtained illegally for a high price. The agriculture department of the state government has filed many FIRs, but no permanent solution to the matter has been discovered.

The SIT was established by the state government in 2018 with the mission of delving into the issue and making suggestions for future steps. Officials who spoke to The Indian Express on the condition of anonymity claimed the study included a number of recommendations for regulating the sale of illicit Ht Bt cotton seeds.

One of the proposals is to create indigenous and cost-effective weed-control technologies. Weed control accounts for almost 40% of production costs, according to the research, and is a key issue for farmers.

The research proposed that weed management methods, such as mechanical and other equipment, be created to aid farmers to avoid choosing this option.

TOP 5:

1. 'CMAI' urges government to review GST rates increase on fabrics and garments

2. Raymond launches new collection with designer 'Suket Dhir'

3. Amitabh Bachchan roped in as 'VKC Group’ new brand ambassador

4. 'Manyavar-Mohey' receives flak for advertisement featuring Alia Bhatt

5. GOVERNOR OF MAHARASHTRA HONOURS KAPIL PATHARE WITH BUSINESS EXCELLENCE AND VIP INNERWEAR AS BEST BRAND 2021-22

Return to homepage

23rd September 2021, Mumbai:

Consumer spending in India is shifting towards discretionary items, reveals the Global State of Consumer Tracker by consultancy and advisory firm Deloitte. Consumers are ready to spend more on discretionary items as they feels safe about returning to work and travel, the report adds.

They are also less hesitant about in-person events and activities. The report states, with robust vaccination initiatives by the government, Indians have gained confidence and are slowly returning to the workplace.

Moreover, with festive season around the corner and lower COVID-19 cases, Indian consumers are showing lower levels of anxiety, resulting in their willingness to increase spending on more discretionary items. The report shows, consumers are spending 36 per cent on clothing and footwear, 33 per cent on electronics, 25 per cent on home furnishings and 22 per cent on restaurants.

The survey is based on a 30-day analysis of consumer spending behaviour of 1,000 persons in India, in July-August. Besides, consumers are all set for international travel as several countries are lifting travel restrictions for India. Almost 57 per cent Indians surveyed are planning international travel for leisure in the next three months.

Consumer have also transformed to being socially conscious shoppers with 68 per cent respondents opting for more locally sourced items and 74 per cent purchasing from brands that responded well to the crisis.

TOP 5:

1. 'CMAI' urges government to review GST rates increase on fabrics and garments

2. Raymond launches new collection with designer 'Suket Dhir'

3. Amitabh Bachchan roped in as 'VKC Group’ new brand ambassador

4. 'Manyavar-Mohey' receives flak for advertisement featuring Alia Bhatt

5. GOVERNOR OF MAHARASHTRA HONOURS KAPIL PATHARE WITH BUSINESS EXCELLENCE AND VIP INNERWEAR AS BEST BRAND 2021-22

Return to homepage

22nd September 2021, Mumbai:

The Income Tax Department conducted a search and seizure operation at a prominent Indian textile company that manufactures textile and filament yarn and has offices in Delhi, Punjab, and Kolkata.

The Group has around Rs. 350 crore in unauthorized cash in its overseas bank accounts, which it has channeled back into its company through shell companies in tax havens. The method discovered was connected to foreign companies under the Group's control investing in Foreign Currency Convertible Bonds issued by its primary business, and then converting them into shares of the company under the guise of defaulting on payments.

It was also discovered that management fees were being paid to overseas corporations and trusts for managing the undeclared cash. Despite the fact that foreign assets owned/managed in the form of businesses and bank accounts must be reported in Schedule FA of income tax returns, the Group has not done so to the Department.

The Department has gathered numerous incriminating documents, loose sheets, diaries, digital evidence, and other items that show the Group's involvement in the routing of unaccounted funds back to its Indian entities, as well as the Group's possession of foreign bank accounts that have not been reported to the Department.

Significant evidence of cash transactions in land purchases, fake costs recorded in books of accounts, unexplained cash spending, and accommodation entries seized from entry operators have been acquired. Details of accounts connected to inexplicable personal financial expenditures were discovered to be scrupulously kept in one of the company's major offices.

There's also evidence that around Rs. 100 crore in cash was produced by debiting fictitious expenses in business accounts and cash transactions in property purchases. The search is still going on, and more investigations are being conducted.

Return to homepage

25th September 2021, Mumbai:

Swedish home furnishing company Ikea has unveiled a new festive collection named Aromatisk in India. The collection is completely sourced and made from local Indian suppliers and has a range of cushion covers, bowls, tea light and lanterns, and décor items.

Aromatisk – which in Swedish means a smell of celebration and togetherness – is inspired by Indian households and have a colorful vibrant pattern that are the highlight of the range.

The collection has a rich feel and focuses on essential design and has a colorful blend of textiles and decorations with a modern Scandinavian expression inspired by Indian folklore.

The collection is collaboration between Ikea’s two in-house designers – Akanksha Sharma and Paulin Machado. It would be available across IKEA stores, online and mobile app from September 2021. The collection will range from lanterns, cushion covers, curtains, décor objects to bed sheets, tea light holders, cake stands,etc.

TOP 5:

1. 'CMAI' urges government to review GST rates increase on fabrics and garments

2. Raymond launches new collection with designer 'Suket Dhir'

3. Amitabh Bachchan roped in as 'VKC Group’ new brand ambassador

4. 'Manyavar-Mohey' receives flak for advertisement featuring Alia Bhatt

5. GOVERNOR OF MAHARASHTRA HONOURS KAPIL PATHARE WITH BUSINESS EXCELLENCE AND VIP INNERWEAR AS BEST BRAND 2021-22

Return to homepage

23rd September 2021, Mumbai:

The Income Tax Department conducted a search and seizure operation at a prominent Indian textile company that manufactures textile and filament yarn and has offices in Delhi, Punjab, and Kolkata.

The Group has around Rs. 350 crore in unauthorized cash in its overseas bank accounts, which it has channeled back into its company through shell companies in tax havens.

The method discovered was connected to foreign companies under the Group's control investing in Foreign Currency Convertible Bonds issued by its primary business, and then converting them into shares of the company under the guise of defaulting on payments.

It was also discovered that management fees were being paid to overseas corporations and trusts for managing the undeclared cash. Despite the fact that foreign assets owned/managed in the form of businesses and bank accounts must be reported in Schedule FA of income tax returns, the Group has not done so to the Department.

The Department has gathered numerous incriminating documents, loose sheets, diaries, digital evidence, and other items that show the Group's involvement in the routing of unaccounted funds back to its Indian entities, as well as the Group's possession of foreign bank accounts that have not been reported to the Department.

Significant evidence of cash transactions in land purchases, fake costs recorded in books of accounts, unexplained cash spending, and accommodation entries seized from entry operators have been acquired.

Details of accounts connected to inexplicable personal financial expenditures were discovered to be scrupulously kept in one of the company's major offices. There's also evidence that around Rs. 100 crore in cash was produced by debiting fictitious expenses in business accounts and cash transactions in property purchases. The search is still going on, and more investigations are being conducted.

TOP 5:

1. 'CMAI' urges government to review GST rates increase on fabrics and garments

2. Raymond launches new collection with designer 'Suket Dhir'

3. Amitabh Bachchan roped in as 'VKC Group’ new brand ambassador

4. 'Manyavar-Mohey' receives flak for advertisement featuring Alia Bhatt

5. GOVERNOR OF MAHARASHTRA HONOURS KAPIL PATHARE WITH BUSINESS EXCELLENCE AND VIP INNERWEAR AS BEST BRAND 2021-22

Return to homepage

22nd September 2021, Mumbai:

Over the next two years, India's largest home textile company, Welspun India, would invest about Rs. 800 crore in capacity development for its home textiles and flooring divisions. The company's board of directors authorized plans to increase towel production capacity at its Anjar, Kutch (Gujarat) facility to 1,02,000 metric tonnes per annum (MTPA), up from 85,400 MTPA currently. During FY22-23, the company plans to invest Rs 656.5 crore in expanding its home textiles division. To satisfy the rising demand from international clients, it aims to increase its towel production capacity by 20%.

The firm noted in a regulatory filing that, in light of clients' current focus on tracking the whole value chain, or 'Farm to Shelf,' the board has approved an investment in 40 looms for towel fabric at Anjar, which represents 7% of installed capacity. The board, on the other hand, has approved extra investment in automation for its Vapi, Valsad (Gujarat) facility in order to achieve a faster production turnaround at a cheaper cost. From the second year of operation, the expansion has a revenue potential of Rs. 1,207 crore. The company's net debt position projection for the current financial year, i.e. Rs 2,400 crore as of 31 March 2022, has not changed.

Return to homepage