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Piyush Goyal: Multi-stakeholders review meet to look into possible solutions for rising cotton prices

16 May 2022, Mumbai:

Piyush Goyal, Union Minister of Commerce & Industry and Textiles has called a meeting of all stakeholders to look into possible solutions for rising cotton prices. Upendra Prasad Singh, Textile Secretary believes government intervention is necessary to curb rising cotton prices.

ALSO READ Elevated Cotton Prices: Its Impact On Textile Exports & Domestic Demand

However, the intervention should be done in a manner that does not adversely affect any one segment of the value chain, he warns. Cotton prices have almost doubled from Rs 55,000 since the beginning of the current season seven months ago to about Rs 1 lakh per candy, points out Sanjay Jain, Managing Director, TT Ltd. The extraordinary rise has destroyed demand for cotton-based textiles in India, threatening the livelihoods of thousands of MSMEs, he opines.

The removal of 11 percent import duty on cotton in mid-April fuelled cotton prices by another Rs 40 per kg across categories earlier this month. This resulted in Tiruppur garments units observing a six-day strike from May 16.

RELEVANT NEWS CITI hails withdrawal of import duty on Cotton

The current rise in cotton prices can be attributed to high global prices and additional freight and handling charges for imported cotton, says Singh. Problems such as port congestions and container availability also fuelled prices in India, he adds.

Exporters seek short-term bans

Garment export organizations like the Apparel Export Promotion Council (AEPC) are seeking government intervention to curb rising prices.

They are demanding a short-term ban on cotton yarn export to stabilize the market. In a recent representation, the AEPC has urged the government to export value-added products like apparel instead of raw materials like cotton and cotton yarn.

The rise in raw material prices has severely impacted the Indian apparel value chain, explains Narendra Goenka, Chairman, AEPC.

Rising garment prices are making it difficult for exporters to achieve their target of $20 billion in exports for FY23, he adds.

Varying demand from exporters

Meanwhile, Tiruppur Exporters’ Association has urged the government to ban cotton yarn exports till prices stabilize.

RELEVANT NEWS SIMA: Free import of cotton, demands cotton textile industry

However, industry demands vary from one another, says Singh. While some demand a ban on raw cotton exports, others are seeking a ban on exports of yarn.

A few are also calling for quantitative restrictions on exports while others are urging for an export duty on raw cotton and cotton yarn. Assuring stakeholders, Singh says, the government will either extend the import duty ban beyond September 30 or apply the deadline to loading consignment into the ship instead of when the ship arrives at the port.

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Piyush Goyal: Multi-stakeholders review meet to look into possible solutions for rising cotton prices

Denim PV BERLIN On May 17 & 18

14 May 2022, Mumbai:

A new edition full of promise is to be discovered on May 17 & 18.

Here is a sneak peek of what’s in store for you in Berlin

Save the date for your next meeting with the denim community!

ALSO READ PHYSICAL & SAFE: MUNICH FABRIC START & BLUEZONE ALMOST AT PRE-PANDEMIC LEVEL

May 17 & 18, 2022 Denim PV BERLIN + Digital Denim Week May 16 – 20, 2022 A hybrid event, both physical & digital at Arena Berlin.

On the agenda of this new Berlin edition:

A Trend Area and fashion seminars to decipher the Autumn-Winter 23-24 season’s trends. In-person conferences and Smart Digital Talks to discuss the challenges of the denim industry and the latest eco-responsible innovations.

RELEVANT NEWS The CMA, UK may soon issue list identifying/ condemning greenwashing fashion cos

A high-quality offer with the major players of the denim community: weavers, accessories and components manufacturers, garments manufacturers, laundries, and fabric finishers. A new and unique location in the heart of a cosmopolitan city.

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CREDITS: Denim PV BERLIN (The news article has not been edited by DFU Publications staff).

 Denim PV BERLIN On May 17 & 18

Denim Show: Panel Discussion On Denim Industry

13 May 2022, Mumbai:

Panel Discussions @ Denim Show

ALSO READ Denim Show: Industry prowess showcased @ Mumbai

Here are a few takeaways from the discussion:

1. There is no dearth of business for denim players in India
2. The entire denim ecosystem is getting environmentally conscious
3. Denim industry has the potential to grow 25% CAGR in the next 4-5 years
4. Innovation is the name of the game
5. Denim cannot be sold by advertising.

The product itself needs to appeal to the consumer.

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CREDITS: Denim Show (The news article has not been edited by DFU Publications staff).

Denim Show: Panel Discussion On Denim Industry

PRESS CONFERENCE: Darshana Jardosh to inaugurate show & address media on 12th May

11 May 2022, Mumbai:

Hon'ble Union Minister of State for Textiles & Railways - Smt Darshana Jardosh to inaugurate show and address media on 12th May at 4 PM; JIO WORLD CONVENTION ENTRE.

ALSO READ Darshana Jardosh: PLI Textiles Scheme to hugely boost MMF sector

Set to mark its launch in Mumbai, Gartex Texprocess India India’s leading trade fair for textile and garment manufacturing will be inaugurated by Hon'ble Union Minister of State for Textiles & Railways - Smt Darshana Jardosh in Mumbai on 12th May 2022.

RELEVANT NEWS Darshana Jardosh: Integrating the Value Chain is the need of the Hour

Messe Frankfurt cordially invites trade to INAUGURATION & PRESS CONFERENCE with Hon'ble Union Minister of State for Textiles & Railways - Smt Darshana Jardosh.

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PRESS CONFERENCE: Darshana Jardosh to inaugurate show & address media on 12th May

EU Strategy For Sustainable & Circular Textiles

14 May 2022, Mumbai:

AN OPPORTUNITY FOR ORGANIC TEXTILES?

The EU Commission has recently published the EU Strategy for Sustainable and Circular Textiles.

ALSO READ The Global Organic Textile Standard (GOTS) : Identifying fraud in India since 2020 but receives no evidence

This offers the ambitious vision that in only eight years, by 2030, textile products on the EU market will be long-lived, free of hazardous substances and produced by respecting the environment and social rights. The vision is for consumers to benefit from high-quality affordable textiles; for fast fashion to be out of fashion; and for producers to take responsibility for their products along the value chain.

GOTS welcomes the vision and believes that organic textile products are a natural fit for the Strategy. However, the organic opportunity is overlooked. The strategy reveals that 39% of sustainability claims could be false or deceptive, and proposes that claims such as ‘green’, ‘eco-friendly’, and ‘good for the environment should be underpinned by recognised excellence in environmental performance.

RELEVANT NEWS GOTS 20th anniversary celebration marks historic accredited facilities

It also states that voluntary sustainability labels covering environmental or social criteria must be based on third-party verification. Organic textiles are good for the environment being a well-justified eco-friendly and green claim based on excellence in environmental performance.

So, what is the scope for ensuring that organic textiles will take their place within the EU strategy for sustainable textiles? GOTS provides a robust sustainability standard for organic textiles, based on the use of organically farmed natural fibres.

Organic textiles certified to GOTS clearly meet the strategic vision and the recommendations of the EU Strategy. GOTS looks forward to the review of the EU Textile Labelling Regulation by the EU Commission foreseen in the strategy.

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CREDITS: GOTS (The news article has not been edited by DFU Publications staff).

EU Strategy For Sustainable & Circular Textiles

ACIMIT's New Logo & Website

12 May 2022, Mumbai:

ACIMIT RENEWS ITS CORPORATE IDENTITY WITH A NEW LOGO AND WEBSITE.

ACIMIT, the Association of Italian Textile Machinery Manufacturers, has presented its renewed corporate identity, the result of a collaborative effort involving the association itself and the communications agency Take, which handled the logo’s restyling, new brand book design, and the development of the new website.

ALSO READ ITALIAN TEXTILE MACHINERY: ORDERS GROW AGAIN IN 2021 FOURTH QUARTER

ACIMIT’s new image reflects its evolving and dynamic soul. The logo has been renewed so as to remain faithful to the association’s values, which are strongly rooted in Italy, while accentuating its international impetus, representing the evolutionary nature of the entire textile machinery sector. The official website has been completely renovated both in its look, feel and structure, but remains essentially unchanged in its DNA.

RELEVANT NEWS ACIMIT, ITA organize Italian Pavilion @ Techtextil North America,May'22

“Creativity, technological innovation, and a coming together of Italian concepts – these are the ideas that have guided us in conceiving and redefining our logo and our association’s coordinated image,” states ACIMIT president Alessandro Zucchi.

“The new logo was designed to mirror our organization’s core values, with two main goals: promoting the idea of closeness and coming together, while reflecting a spirit of belonging for all our associated partners, and proposing ACIMIT to the global textile supply chain, communicating Italy’s leadership role in the textile machinery sector.”

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ACIMIT's New Logo & Website

ICC holds Virtual India TexFab from 21st-24th June

13 May 2022, Mumbai:

India is the highest growing economy today on the world’s map. With abundant raw material availability & stable government, strong industrial growth is forecasted in near future. Textile is one of the most ancient industries.

Today, the textile sector is one of the largest contributors to India’s exports with approximately 11 percent of total exports.

ALSO READ How Favourable Is Rupee's Precipitous Fall For Indian Textile Sector

The Indian textiles industry, currently estimated at around US$ 108 billion, is expected to reach US$ 223 billion by 2021. The industry is the second largest employer after agriculture, providing employment to over 45 million people directly and 60 million people indirectly.

The Indian textiles industry is extremely varied, with the hand-spun and handwoven textiles sectors at one end of the spectrum, while the capital-intensive sophisticated mills' sector at the other end of the spectrum.

The decentralized power looms/ hosiery and knitting sector forms the largest component of the textiles sector. The close linkage of the textile industry to agriculture (for raw materials such as cotton) and the ancient culture and traditions of the country in terms of textiles make the Indian textiles sector unique in comparison to the industries of other countries.

RELEVANT NEWS Textiles & Apparel Exports: April-Jan 2021-22

The Indian textile industry has the capacity to produce a wide variety of products suitable to different market segments, both within India and across the world.

The future for the Indian textile industry looks promising, buoyed by both strong domestic consumption as well as export demand.

The organised apparel segment is expected to grow at a Compound Annual Growth Rate (CAGR) of more than 13 percent over a 10-year period.

RELEVANT NEWS In 2021, India's domestic textile exports would generate US $ 6.68 billion in income

In this perspective Indian Chamber of Commerce is organizing India TexFab from 21st to 24th June 2022 virtually; supported by the Department of Commerce, Ministry of Commerce & Industry, Government of India.

Exhibits:

Textiles, Handlooms, Hosiery, Clothing, Apparels - Readymade Women's, Men's, Kids clothing; Denim, Knitted Clothes & Fabrics, Woolen Garments, Shawls & Scarves, Stoles, Textile Accessories, Yarn, Leather products, Home Textiles, Textiles machinery and many more.

Focus Countries:

China, Japan, South Korea, Mongolia, Hong Kong and others

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ICC holds Virtual India TexFab from 21st-24th June

SIMA: Entire cotton textile value chain needs to stand united to mitigate cotton & yarn price crisis

12 May 2022, Mumbai:

The predominantly cotton-based textile industry in India has been performing extremely well immediately after the second wave of the COVID pandemic owing to pent-up demands that emerged in the post-COVID scenario.

The US sanction on Xinjiang province cotton, attractive cotton futures trading, and pent-up demand forced the cotton price to reach a record high level in a short span of time.

ALSO READ SIMA, CHAIRMAN: Indian Textile Mills concerned about global order cancellations

Consequent to the constant genuine demand by the user industry, the Government has removed the import duty for the period 14 th April to 30 th September 2022.

In a Press Release issued here today, Mr.Ravi Sam, Chairman, of The Southern India Mills’ Association (SIMA), has appealed to all the stakeholders in the value chain to stand united and adopt a win-win strategy to mitigate the grave crisis rather than demanding the Government to take certain short cited policy decisions like banning or imposing quantitative restrictions on cotton and yarn exports that would tarnish the image of the Nation as a reliable supplier in the global market.

RELEVANT NEWS SIMA & CITI to impress upon Tamil Nadu CM, MK Stalin seeking to ramp up cotton production

SIMA Chairman has urged the Government to strictly enforce the mandatory collection of online statistical returns giving the particulars of production, consumption, and stock data across the value chain from ginning to garments is the need of the hour to curb speculation and take appropriate policy decisions.

He has appealed to all the stakeholders to file the Returns to the Office of the Textile Commissioner so that the industry and the government could have reliable data to plan any strategy.

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SIMA: Entire cotton textile value chain needs to stand united to mitigate cotton & yarn price crisis

Top Biden Administration Officials to Speak At U.S. Textile Industry Annual Meeting

10 May 2022, Mumbai:

As the debate in Washington heats up around trade, the global supply chain crisis, onshoring and nearshoring, and tariffs, three top Biden administration officials are coming to speak to U.S. textile executives at the National Council of Textile Organization’s Annual Meeting on May 11.

ALSO READ NCTO Welcomes Appointment of Jennifer Knight as Deputy Assistant Secretary for Textiles, Consumer Goods and Materials at the U.S. Department of Commerce

The gathering of U.S. textile manufacturing CEOs, Western Hemisphere manufacturers, and policymakers in Washington will highlight a wide range of issues, from onshoring and nearshoring to domestic personal protective equipment (PPE) production, to China enforcement—all policies with far-reaching implications for the U.S. textile industry and manufacturing sector as a whole.

RELEVANT NEWS NCTO Welcomes House Passage of America COMPETES Act; Helps Close De Minimis Loophole

The open session will feature three top Biden officials.

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Top Biden Administration Officials to Speak At U.S. Textile Industry Annual Meeting

ITMF Press Release - Results of the 13th ITMF Corona Survey

13 May 2022, Mumbai:

The business situation and expectations are still positive but visibly weaker.

In the 2 nd half of March 2022, the ITMF conducted the 13 th ITMF Corona-Survey amongst more than 220 companies around the world in all segments along the textile value chain.

ALSO READ ITMF Awards 2022 Extension of Deadline until April 30th, 2022

For the sixth time since May 2021, companies were asked the same set of questions about their

1) business situation

2) business expectation

3) order intake

4) order backlog, and

5) capacity utilization rate.

In addition, they were asked about their main concerns and whether and to what extent they can pass on recent cost increases. On average across all regions and all segments, the business situation in March 2022 remains in positive territory.

RELEVANT NEWS ITMF-- 12th Corona-Survey

When it comes to the business expectations in six months’ time, the global textile value chain remains optimistic but stands on a much weaker foundation.

Since September 2021 the balance between more favorable and less favorable business expectations has fallen from +32pp to +7pp.

This is a clear indication that the textile value chain has passed the tip of a strong business cycle in the 4 th quarter of 2021.

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ITMF Press Release - Results of the 13th ITMF Corona Survey

Bangladesh Denim Expo: Officina39 participation

 11 May 2022, Mumbai:

Officina39 returns to Asia's trade fair scene with its renewed brand look, always holding on to its sustainable attitude based on “Chemistry plus creativity”. Bangladesh Denim Expo (10-11 May) marks the Italian company's return to in-person trade fairs on the Asian continent.

 

ALSO READ Bangladesh Denim Expo: 10-11th May'22

An opportunity to show off its new look in this key market and present its latest sustainable developments.

RELEVANT NEWS  Bangladesh Denim Expo in Dhaka on 11th and 12th November: An Overview

May 10-11, 2022 – It is certainly not unusual to link the term sustainability to Officina39, the Italy- based company leader in the ecological innovation of chemical application in the textile sector: so the company cannot but be present at the Bangladesh Denim Expo in Dhaka on 10-11 May, a new edition after a two-year break, characterized by a focus on sustainability and the central theme "Beyond Business".

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Bangladesh Denim Expo: Officina39 participation

Textiles Ministry holds National Conference on PM MITRA Parks Scheme

07 May 2022, Mumbai:

13 State Governments present plans of 18 proposals for setting up PM MITRA Parks in their respective states.

A National Conference on PM Mega Integrated Textile Regions and Apparel Park(PM MITRA) Parks Scheme was organized by the Ministry of Textiles on 4th May 2022.

ALSO READ Darshana Jardosh: PM MITRA proposals under evaluation

The conference was inaugurated by Shri U.P Singh, Secretary, Ministry of Textiles followed by a detailed presentation on the PM MITRA Parks Scheme by Smt. Shubhra, Trade Advisor, Ministry of Textiles.

The Conference provided a platform for making presentations by officials from 13 State Governments, viz. – Andhra Pradesh, Bihar, Chhattisgarh, Gujarat, Karnataka, Madhya Pradesh, Maharashtra, Odisha, Punjab, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh enumerating the contours of the 18 proposals for setting up of PM MITRA Parks in their respective states.

Each state government showcased its strengths in the textiles sector with a special focus on scheme/policy/benefits/incentives and basic utilities provided for creating an industry-friendly ecosystem to populate the proposed PM-MITRA Parks.

RELEVANT NEWS PM MITRA Park: States are working hard

PM MITRA Park will offer the opportunity to create an Integrated Textiles Value Chain right from spinning, weaving, processing/dyeing, and printing to garment manufacturing, etc. at one location and will reduce the logistics cost of the Industry.

The conference also witnessed widespread participation from the Industry in physical as well as virtual mode leading to a vibrant Q&A session, followed by the closing session summarizing the outcomes and elaborating on the way forward of successful scheme implementation.

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CREDITS: PIB (The news article has not been edited by DFU Publications).

Textiles Ministry holds National Conference on PM MITRA Parks Scheme

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