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Trade 03-09-2022

Webinar on Guidance Support for Higher Education: Sep

02 September 2022, Mumbai

NISTI Regd holds the webinar on Guidance Support for Higher Education in India and Abroad by Prof. Sunil Garg on Sep 9, 2022, 04:00 PM India.

Prof Sunil Garg is B.Tech. M.Tech. (IIT-BHU); MBA (IIFT) with 48 years of experience in Industries, International Trade, IT, Automation, and Education Services in India and Abroad.

Currently, he is President, US Work Study Pvt. Ltd. India and representing Universities with Campus Jobs, Scholarships, and CPT in the U.S.A.; Career Counselling & Admission Support for Lucrative Education (no cost) and; Professor - of Mechanical Engineering at APJAKTU (U.P.) & Operation Management at GGSIPU (Delhi).

The webinar, in interactive mode, will provide an opportunity to seek clarification on a higher study in India and abroad.

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Trade 03-09-2022

INTERNATIONAL SOURCING EXPO AUSTRALIA: 15 -17 Nov

01 September 2022, Mumbai

From Tuesday 15 – Thursday 17 November 2022 at the Melbourne Convention & Exhibition Centre, this Expo is your one-stop shop for global sourcing.

International Sourcing Expo Australia is co-located alongside two other major industry events, The Footwear & Leather Show Australia and the China Clothing Textiles Expo. Australia’s premier apparel, textile & accessories sourcing event, International Sourcing Expo Australia, enables you to source directly from 300+ global manufacturers and suppliers over 3 days.

Source direct from some of the world’s leading suppliers from countries such as India, Turkey, Pakistan, Bangladesh, Taiwan, Japan, Indonesia, and many more…

Get ready to source from leading global suppliers who are ready to do business.

Save time and money by accessing sourcing opportunities all in one convenient location in Melbourne this November.

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Trade 01-09-2022

ReTechCon 2022: 6 - 7 Sep in Mumbai

25 August 2022, Mumbai

The event is scheduled on 6 - 7 September @ JW Marriott Mumbai Sahar.

Retail Technology Conclave (ReTechCon) offers a deep exploration of multiple facets of the technology.

The event is back with the Retail Technology Conclave, popularly known as ReTechCon. This year the industry’s most sought-after platform will be hosted in physical form after a gap of two long years.

RETAIL TECHNOLOGY CONCLAVE Retail Technology Conclave (ReTechCon) offers a deep exploration of multiple facets of the technology trends in retail. This knowledge fair provides the depth of a masterclass and the breadth of a conference, helping you develop new strategies for your business and expand your perspective on technology and its changing role in retail.

Get detailed insights and takeaways to help you improve in your role, as well as the big-picture vision you’ll need to advance your retail function/business. Join experts, thinkers, disruptors, and other stakeholders across the retail technology ecosystem for an unparalleled opportunity to learn, network, and grow.

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Trade 25-08-2022

SIMA TEXFAIR 2022: SUCCESSFUL EXPO

08 August 2022, Mumbai:

SIMA TEXFAIR 2022 – SUCCESSFUL EXPO CONDUCTED AT THE RIGHT TIME.

The Southern India Mills Association (SIMA), the single largest employers’ organization representing the entire textile value chain in the country, located at Coimbatore organized the 13th edition of SIMA Texfair 2022 – the largest expo of textile machinery, spares, accessories, and other supporting services during June 24-27, 2022 at CODISSIA Trade Fair Complex, Coimbatore.

ALSO READ SIMA: Exim Trade with INR–A Right Step

The Expo was formally inaugurated by the Hon’ble Union Minister of Commerce & Industry, Consumer Affairs, Food, and Public Distribution and Textiles, Shri Piyush Goyal on 25th June 2022.

south india mills association coimbatore Chairman Shri Ravi Sam welcomed the Chief Guest, Shri Piyush Goyal. In his Chief Guest address, Shri Piyush Goyal highly appreciated the innovative capabilities and entrepreneurial skills of the people of Tamil Nadu especially the twin cities viz., Coimbatore and Tiruppur.

Shri Piyush Goyal highly appreciated the efforts taken by The Southern India Mills’ Association in organizing the Texfair event with world-class standards and providing opportunities for several hundreds of MSME manufacturers to develop import substitution and enhance the competitiveness of the Indian textile industry.

Dr L Murugan, Hon’ble Minister of State for Information & Broadcasting, highlighted the numerous policy initiatives taken by the NDA Government led by Hon’ble Prime Minister, Shri Narendra Modi.

Shri R Gandhi, Hon’ble Minister for Handlooms & Textiles, Government of Tamil Nadu in his Guest of Honour address appreciated the support extended by the Union Government.

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Trade 10-08-2022

Ind-Texpo 2022: Huge orders booked

30 August 2022, Mumbai

The leading show for cotton textiles and its blends, Ind-Texpo 2022 organised by The Cotton Textiles Export Promotion Council (Texprocil) came to a close on 26th August 2022 in Mumbai. The three-day Reverse Buyer Seller Meet which was held at the World Trade Centre, Mumbai from 24 to 26 August 2022, provided the international audience with an optimum setting and platform for exchanging information and strengthening business relationships.

The Show had over fifty stalls of Indian suppliers displaying yarns, fabrics, and home textiles while international buyers from over twenty countries invited by Texprocil visited the Show. Over 90 percent of all visitors and exhibitors were very happy and satisfied with their participation in the trade show expressing an interest to repeat their representation at the next edition of Ind-Texpo.

Chairman Manoj Patodia, The Cotton Textiles Export Promotion Council (TEXPROCIL) said that feedback from both the exhibitors and visitors showed that orders booked on-site at the three-day event were about US$ 6.4 mn (approx. Rs. 51 Crs) while future estimated orders which are in negotiation phase were about US$ 58.7mn (approx. Rs. 470 Crs).

The Ind-Texpo Show was inaugurated by the Secretary, Textiles Shri Upendra Prasad Singh on 24^th August with Smt. Roop Rashi, Textile Commissioner in attendance.

Ms. Lisette, Purchase Manager of Amle Industries SRL and a garment manufacturer from the Dominican Republic was happy to meet suppliers of fabrics in India and looked forward to coming with a bigger delegation from the Dominican Republic for the next edition scheduled in March 2023. Ms. Belinda Coyle, of the Australia-based Agile Sourcing, was very satisfied with the suppliers of sustainable products in yarns, fabrics, and home textiles at Ind-Texpo 2022.

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Trade 31-08-2022

Silk Mark Expo inaugurated in Delhi

24 August 2022, Mumbai

The Silk Mark Expo was inaugurated by DarshanaVikramJardosh, Minister of State for Textiles and Railways in New Delhi. Featuring 39 exhibitors from 12 states, the expo runs from Aug 22-28, 2022.

The exhibition aims to protect India’s rich silk heritage and empower the women weavers and workers engaged in the sector with greater opportunities to earn a better living. The government is taking many steps to promote this industry, said Jardosh.

With Indian textiles standing on the cusp of a global opportunity, Central Silk Board has ushered in a new regime to ensure that silk products carry specific markings about their contents for pro-consumer information through a process of labeling, added Jardosh. A scheme has been enacted in the name of “Silk Mark” by the Silk Mark Organization of India.

The scheme aims at generic promotion of silk and building brand equity of Indian Silk at home and abroad. It also protects the interests of not only the silk consumers but all stakeholders of the silk value chain including farmers, reelers, twisters manufacturers, and traders of pure silk, she added further.

Silk Mark is a quality assurance label, signifying that the product to which it is affixed is made of pure silk. It can be affixed to Silk yarn, sarees, dress materials, made-ups, furnishing materials, and other silk products made up of 100 percent natural silk.

With more than 4300 members and over 4.3 crore Silk Mark labeled products in the market, ‘Silk Mark Organisation Of India’ spearheads the quality movement in silk.

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Trade 24-08-2022

Gartex: Fabric To Finish Solutions

04 August 2022, Mumbai:

Gartex Texprocess India: Fabric To Finish Solutions For Manufacturing Value Chain.

The exhibition is to be inaugurated by Textile Secretary, Ministry of Textile (MoT) U.P. Singh today at Pragati Maidan, Delhi. The event is to go on till August 6th, 2022.

ALSO READ Gartex Texprocess, Delhi: Edition to be bigger than ever

It is focused on the theme of environmental protection through the display of sustainable innovations & techniques.

The event is hosting over 200 exhibitors & is supported by the Ministry of Textile, along with other supporting associations Fabexa, The Confederation of Indian Textile Industry (CITI), Denim manufacturers Association (DMA), The Textile Association (India) TAI & The Gujarat Garments Manufacturer Association (GGMA).

Gartex Texprocess India has established itself as the trendsetter for India's Textile & Apparel/Garmenting industry.

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Trade 04-08-2022

India’s economic growth to more than halve this quarter: Reuters

30 August 2022, Mumbai

Economists polled by Reuters expect the growth pace of India’s economy to more than halve this quarter and slow further toward the end of the year as interest rates rise.

As per reports, growth this quarter is predicted to slow sharply to an annual 6.2 percent from a median forecast of 15.2 percent in Q2, supported mainly by statistical comparisons with a year ago rather than new momentum, before decelerating further to 4.5 percent in October-December

The median expectation for 2022 growth was 7.2 percent, according to an August 22-26 Reuters poll, but economists said that the solid growth rate masks how rapidly the economy was expected to slow in the coming months.

Kunal Kundu, India Economist, Societe Generale, says, domestic consumption will perhaps not be strong enough to drive growth further as unemployment remains high and real wages are at a record low level.

Meanwhile, the RBI, a relative laggard in the global tightening cycle, is set to raise its key repo rate by another 60 basis points by the end of March to try to bring inflation within the tolerance limit.

That follows three interest rate rises this year totalling 140 basis points and would take the repo rate to 6.00% by end-Q1 2023.

The economy is also enduring inflation pressure from a weak rupee, which for months has been trading close to 80 to the U.S. dollar, a level the central bank has been defending in currency markets by selling dollar reserves.

The latest Reuters poll also showed India's current account deficit swelling to 3.1 percent of gross domestic product this year, the highest in at least a decade, which may put further pressure on the currency.

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Trade 30-08-2022

Government to release new foreign trade policy

23 August 2022, Mumbai

The government plans to release the new foreign trade policy next month. Focusing on boosting e-commerce exports and developing districts as export hubs, the policy may highlight ways to reduce the compliance burden on small exporters and fund MSMEs to increase exports.

It may also seek to make proper categorization of products that are at present clubbed as "others", as this system leads to misclassification and tax evasion, thereby adding to the growing trade deficit.

The policy comes amid India’s export growth slowing. Goods exports rose 2.14 percent from a year earlier to $36.27 billion in July, even as the trade deficit almost tripled to $30 billion. In fiscal 2022, India's outbound shipments were a record $421.8 billion. The government aims to take the value to $1 trillion by 2030.

Exporters have sought a separate chapter on e-commerce in the policy that would enlist all the export benefits available to the sector that should be at par with conventional exports.

Ajay Sahai, Director General, Federation of Indian Export Organization (FIEO) has recommended setting up an integrated park for cross-border e-commerce.

Such parks should provide comprehensive facilities such as banks, fintech companies, foreign post offices, courier terminals, logistics companies, warehouses, customs, and tax refunds - all under a single umbrella. Also, some space can be earmarked for packaging and small operations.

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Trade 23-08-2022

India Show, Mongolia: 18-21 Nov 2022

03 August 2022, Mumbai:

India Show, Mongolia, Misheel Expo Centre, Ulaanbaator, Mongolia (18-21 Nov 2022).

India Trade Promotion Organisation (ITPO), a Govt. of India Enterprise will be organising the India show (A new event) to be held from November 18-21, 2022 at Misheel Expo Centre, Ulaanbaator, Mongolia.

ALSO READ Piyush Goyal: India should display fashion products globally

This India Show is one of the important business opportunities for Indian Companies to expand their business to Mongolia.

It offers a horizon to meet new business partners, find new markets, enhance market & sales, and share & cultivate new business opportunities. Mongolian retail represents a huge opportunity for international suppliers as it provides the most important meeting place for international product suppliers and buyers sourcing products.

The India Show spans the entire sector and presents an incredible variety of products and services tea, coffee, bakery products, bulk commodity ingredients, food & beverages, cereals, seafood, fruit & vegetables, meat & poultry, milk & dairy products, IT Software Solutions, Kitchen Equipment, Packaging Machinery & Material, Transport & Logistics, Cold Chain, Retail Technology, Refrigeration, Mining, Cloths, Oil & Gas Sector, handicrafts, health sector products/medical equipment, etc.

This fair is remarkable for the incredible range of different products that are exhibited and introduced through distributors into the Asian market. It is the only multi-sectoral event of its kind in Mongolia. It is the key annual product sourcing opportunity for the entire continent's retail industry.

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Trade 03-08-2022

Raymond signs MoU with Nagaland for a skill training program

27 August 2022, Mumbai

A social initiative of Raymond, JK Trust has signed an MoU with the Nagaland Government to launch an ‘Employment Linked Skill Training Program’ in Kohima.

The project will be implemented for five years and 1,080 trainees will be trained and provided employment opportunities in Silver Spark Apparel, Bengaluru.

The center will be launched in the second week of September 2022. The program is supported by National Bank for Agriculture and Rural Development (NABARD), Silver Spark Apparel Limited (Raymond Group), and the Directorate of Technical Education, Nagaland.

It is aimed at providing employment opportunities to the youth of Nagaland in the apparel/garment industry. The project will bridge the existing gap between skill training imparted and skill sets required by the industry.

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Trade 27-08-2022

SOURCING at MAGIC: August 7-10

09 August 2022, Mumbai:

SOURCING at MAGIC Las Vegas August 7 - August 10, 2022.

SOURCING at MAGIC Las Vegas Hybrid Event is all about commerce and content giving fashion businesses, brands, and sourcing professionals the opportunity to connect and collaborate with a global community of manufacturers, suppliers, and service providers - both in-person and online.

ALSO READ Sourcing at MAGIC: Executive Director, Will Duncan, Presents

SOURCING at MAGIC Las Vegas gives sourcing experts access to our established international community of global manufacturers, suppliers, and service providers. Access the latest in cutting-edge fashion technology, sustainable resources, educational content, networking, and extended visibility into the industry’s most critical global issues.

INDUSTRY INSIGHTS & EDUCATION Sourcing at Magic fair is all about commerce and content, see below for key articles and business resources.

(Credits: SOURCING at MAGIC, Website)

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Trade 10-08-2022

Welspun’s Q1FY’23 results reported

01 August 2022, Mumbai:

Welspun India’s total income surged to Rs 19,790 million in the first quarter (Q1) of fiscal 2023 (FY23) ended June 30, 2022.

The company reported revenues of Rs 18,521 from its home textiles segment while revenues from the flooring segment increased to Rs 1,694 million.

ALSO READ Welspun India’s Q1FY’23 results reported

The company’s EBITDA grew 8.8 percent to Rs 1,736 million. Its core business EBITDA grew to Rs 1,716 million and its EBITDA margin stood at 9.3 percent.

The net debt of the company grew to Rs 21,392 million as of June 30, 2022, as opposed to Rs 22,289 million as of March 31, 2022. The company has expanded its footprint to over 7,833 outlets and 495 towns.

The company completed the expansion project at Anjar started last year, increasing the facility towel manufacturing capacity by 7 percent to 90,000 MTPA. The balance flooring and advanced textiles CAPEX will conclude towards the end of the second quarter of FY23.

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Trade 01-08-2022