16 June 2022, Mumbai:

Lenzing continues to focus on partnering for systemic change

 Clear commitment to improving the environmental footprint of textile and nonwoven industries

 Global initiative TfS promotes the sustainable design of global supply chains

Lenzing –

The Lenzing Group, a world-leading provider of wood-based specialty fibers for the global textile and nonwoven industries, has joined the chemical industry’s sustainable supply chain initiative, Together for Sustainability (TfS).

Together with Lenzing, numerous internationally active chemical companies have joined the initiative. Their common goal is to make the global supply chains of the chemical industry sustainable.

“Joining the TfS initiative is another clear commitment to improving the environmental footprint of the global textile and nonwoven industries and proves that sustainability is taken very seriously at Lenzing – so much so that sustainability is at the heart of our business strategy. So much so, that it sits at the core of the Group’s business strategy.

The industry needs innovation in order to transition from linear to circular ways of working, and Lenzing will continue to partner across the supply chain to bring this vision to life,” says Robert van de Kerkhof, Chief Commercial Officer Fiber at Lenzing.

25 May 2022, Mumbai:

Four listed firms of the Kishore Biyani-led Future Group on Tuesday expressed their inability to convene a board meeting before May 30 to approve their financial results for the March quarter and FY22 on account of vacant positions on their respective boards.

ALSO READ Future of Future Group?

The companies are — Future Retail, Future Lifestyle Fashion, Future Supply Chain Solutions, and Future Enterprises.

In the last two months, Future Retail, the flagship firm of the debt-ridden Future Group, witnessed several top-level exits after its Rs 24,713-crore deal with Reliance Retail was called off.

RELEVANT NEWS Future group promoter plans to plot a comeback in retail space

Earlier this month, FRL’s chief financial officer C P Toshniwal and company secretary Virendra Samani resigned from the company. It is MD Rakesh Biyani had also stepped down this month.

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CREDITS: ET NDTV Business Standard Global Online Money (The news article has not been edited by DFU Publications staff).

19 May 2022, Mumbai:

Greater business opportunities are expected with increasing participation of domestic and overseas prospects.

Korea Federation of Textile Industries (Chairman Lee Sang-woon) looks forward to welcoming exhibitors to“Preview in SEOUL (PIS) 2022” which takes place at COEX Hall A from August 24 (Wed) to August 26 (Fri).

ALSO READ BGMEA: Bangladesh x South Korea a great combo to create win win

PIS celebrates its 23rd anniversary this year as a global fashion & textile exhibition and has been attended by approx. 300 companies in the fields of materials, subsidiary materials, machinery, IT, and fashion, including Korean manufacturers with considerable presence in the global textile material market, and 14,000 visitors online and offline.

PIS 2022 will take place under the theme of “Next Gate”, which means it will usher in a new era with new standards and values by recognizing COVID-19 as something to coexist within our life, and will focus on textile, eco-friendliness, and digital convergence.

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PIS 2022 will showcase the latest technologies and products developed by manufacturers of natural·regenerated fibers and high-functionality·industrial fibers. The“Sustainability Zone” and the “Digital Zone” will be newly operated to shed light on the transformation of the fashion and textile industry through the green and digital revolution.

The Indian pavilion at Korea's premier textile exhibition preview in Seoul on August 22 will be one of the key highlights.

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

10 June 2022, Mumbai:

Soul of Textiles” – India ITME 2022 Tradition to Trend under one roof. 

11^th edition of India ITME will be held from 8^th – 13^th December 2022 at India Exposition Mart Ltd, Knowledge Park II, Greater Noida.

 ALSO READ SGCCI to organise the ‘Global Textile Trade Fair’ in the US from June 9

This very important business event for the Textile Engineering Industry is being offered with many new features and facilities for the exhibitors to make good the loss of time and person-to-person contact over the last two years. 

This Business exhibition shall be in a Hybrid format to ensure more connectivity & networking with business visitors and exhibitors for onsite & virtual B2B meetings.

 RELEVANT NEWS  Global Textile Trade fair, Atlanta on 9-11 June: Indian Pavilion

The only event in India which brings together 73 Countries & 97 domestic regions of Pan India under one roof; of this 52% of visitor’s belong to top Management & decision-makers enabling them to close business deals decisively.  India ITME-2022 is going to be a very exciting business event for the Textile & Textile Engineering Industry after a long gap.

As an event organizer, India ITME Society has become a globally trusted name for quality and excellence and has successfully served the industry with commitment.

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19 May 2022, Mumbai:

Council to have representation from the Ministry of Textiles, Agriculture, Commerce, Finance, Commerce and Industry, Cotton Corporation of India, and Cotton Research Institute.

The 1st meeting of the proposed Council on 28th May 2022 to discuss, deliberate, and prepare a robust action plan for bringing out a tangible improvement in this field.

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

Shri Piyush Goyal calls upon the spinning and trading community to ensure hassle-free supply of cotton and yarn first to the domestic industry; Appeals to divert only surplus cotton and yard for exports.

RELEVANT NEWS CITI hails withdrawal of import duty on Cotton

Emphasize the need of holding the hands of cotton farmers besides extending all possible support to stakeholders engaged in backward and forward integration.

Government to actively consider the demand of the spinning sector for exemption from import duty on those import contracts in which bills of lading is issued up to 30th September 2022: Goyal exhorts all stakeholders to resolve cotton and yarn price issue, in the spirit of collaboration rather than competition and super profiteering

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

24 May 2022, Mumbai:

The Government of India and the Government of the United States of America have signed an Investment Incentive Agreement (IIA) today in Tokyo, Japan. The IIA was signed by Shri Vinay Kwatra, Foreign Secretary, Government of India, and Mr. Scott Nathan, Chief Executive Officer, U.S. International Development Finance Corporation (DFC).

ALSO READ

This IIA supersedes the Investment Incentive Agreement signed between the Government of India and the Government of the United States of America in the year 1997. Significant developments have taken place since the signing of the earlier IIA in 1997 including the creation of a new agency called DFC, a development finance agency of the Government of the USA, as a successor agency of the erstwhile Overseas Private Investment Corporation (OPIC) after the enactment of the recent legislation of the USA, the BUILD Act 2018. IIA has been signed, to keep pace with the additional investment support programmes, offered by the DFC, such as debt, equity investment, investment guaranty, investment insurance or reinsurance, feasibility studies for potential projects, and grants.

RELEVANT NEWS

The Agreement is the legal requirement for DFC, to continue providing investment support in India. DFC or their predecessor agencies are active in India since 1974 and have so far provided investment support worth $5.8 billion of which $2.9 billion is still outstanding.

Proposals worth $4 billion are under consideration by DFC for providing investment support in India. DFC has provided investment support in sectors that matter for development such as COVID-19 vaccine manufacturing, healthcare financing, renewable energy, SME financing, financial inclusion, infrastructure, etc.

It is expected that the signing of IIA would lead to enhanced Investment support provided by DFC in India, which shall further help in India’s development.

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

18 May 2022, Mumbai:

EURATEX 2022 Spring Report: putting the EU Textiles Strategy in a global context.

EURATEX has just released its Spring report, offering a detailed insight into trade figures for the European textile and apparel industry in 2021.

ALSO READ EURATEX: BETTER COLLABORATION CAN SMOOTHEN EU-UK TRADE FLOW

The numbers are encouraging: compared with the dramatic corona-year 2020, EU exports of textile and clothing articles increased by +10.6%, while imports dipped by -7.5%.

As a result, the EU trade deficit improved, even though it remains significant (- €48 billion).

Furthermore, import prices went slightly down in clothing and dropped in textiles, following a strong decrease in Chinese import prices of face masks and protective medical supplies. The boost in exports was mainly due to strong performance in the Swiss, Chinese, and US markets.

On the other side, EU sales of textile & clothing to the United Kingdom fell sharply (-23%), due to Brexit new requirements, customs delays, and a shortage of truck drivers.

Imports from the EU's top supplier, China, plunged by -28%, corresponding to €13 billion.

RELEVANT NEWS European textile industry needs to grow its role on global markets

Similarly, textile and clothing imports from the United Kingdom recorded a sharp decrease over the period (-48%, equal to €-3 billion).

Director-General Dirk Vantyghem commented: “the 2021 export figures, presented in this Spring report, confirm that EURATEX members have gained momentum; even if energy prices are causing some serious short-term disruptions, our long-term ambition remains to be a world leader in sustainable textiles.”

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28 May 2022, Mumbai:

Projects India as a profitable business destination.

More than 500 companies participated and attracted over 20,000 trade visitors.

ALSO READ

Export Promotion Council for Handicrafts (EPCH) set-up an exclusive Handicrafts of India pavilion along with member exporters in Index 2022 - Design Fair from 24 – 26 May 2022.

The EPCH India pavilion was Inaugurated by Dr. Aman Puri Consul General, Consulate General of India at Dubai in the presence of Rajesh Kumar Jain - Member COA EPCH, Shri Abhishek Jindal - Member, Central Regional Committee EPCH, and participating exporters.

Rakesh Kumar, DG EPCH informed that this year, 29 out of 50 Indian companies participated in INDEX Fair. The member got a positive response from the buyers on their exclusive products range of candles, wooden handicrafts items, textiles furnishing, leather products, lamps and lighting, ceramics, and rugs and carpets.

RELEVANT NEWS

More than 500 companies participated and attract over 20,000 trade visitors in this edition of Index 2022 after a gap of 2 years Covid Pandemic. Prominent member exporters from Moradabad Mr. Ashok Arora Member COA EPCH and Mohd. Shamsi visited the EPCH pavilion at the fair.

The Middle East countries including UAE are important markets for Indian handicrafts with exports of more than 2485.74 INR crores. The recently signed India-UAE FTA will pave way for enhanced export growth to the WANA region, Dr. Kumar added.

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

18 May 2022, Mumbai:

The Indian Ambassador to Indonesia His Excellency Mr. Manoj Kumar Bharti together with the CII Indonesia chapter organized a meeting of all CEO of Indian companies in Indonesia with His Excellency the Vice Minister of Trade Dr. Jerry Sambuaaga in Jakarta on May 10th,2022.

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It was very constructive & useful. interaction with the Minister both on Policy & Operational challenges faced by Indian companies. Minister was amazed to hear that Aditya Birla Group companies will complete 50 years of presence in Indonesia by next year (2023).