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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16 May 2022, Mumbai:

In talks with 30 niche local brands.
Mukesh Ambani led Reliance's plans to build a portfolio of 50 to 60 grocery household and personal care brands within the next 6 months.

ALSO READ Reliance Brands: 6th ‘Designer Brand’ acquisition & counting
Reliance is in the final stages of negotiations with around 30 popular niche local brands to fully acquire them or form JV/joint venture partnerships for sales.

RELEVANT NEWS

Investment outlay to acquire brands is not clear, but Reliance aims to achieve rupees 50000 crore which is 6.5 billion USD of annual sales from the business within 5 years.

It targets building its own 6.5 billion USD consumer goods business to challenge foreign giants like HUL, two sources familiar with the plan told Reuters.

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CREDITS: TOI Dt 16-05-2022 (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.

ALSO READ Aditya Birla: Sushil Agarwal, Group CFO named amongst top 20 CFOs

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).

14 May 2022, Mumbai:

SGS Launches Light Sensitive Fabric Test to Support a Greener Denim Fashion Industry.

ALSO READ SGS opens new laboratory in Kolkata

SGS has joined forces with technology manufacturer, Jeanologia, to launch an exclusive service for fashion retailers, manufacturers, and brand owners looking to minimize the environmental impact of denim textile production.

Advanced Light Sensitive Fabric Test –

Now Available Exclusively Through SGS The advanced Light Sensitive Fabric test, developed by Jeanologia, is now available exclusively from SGS. In expanding its global textile testing capability with the advanced Light Sensitive Fabric test, SGS is responding to the industry’s growing use of laser technology to reduce the environmental impact of producing denim apparel.

RELEVANT NEWS Jeanologia: People & Planet Come First

Providing an Objective Fabric Quality Score The advanced Light Sensitive Fabric test accurately measures the suitability of denim fabrics for laser marking, based on sensitivity to light, and provides an objective score of fabric quality through the global Advanced Light Sensitive Fabric 100 Mark System.

A More Eco-Friendly Approach to the Fashion Industry

Yvonne Tse, Vice President, SGS Global Softlines said: “We are proud to launch this service, which supports the sustainable production of fashion textiles.

Enrique Silla, CEO at Jeanologia, said: “Our mission is to change the industry and make it more ethical, eco-efficient, and sustainable.

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

17 May 2022, Mumbai:

India exported cotton textiles, including raw cotton, worth $15.29 billion in 2021-22, as per shows provisional data by Cotton Textiles Promotion Council (Texprocil) Manoj Kumar Patodia, Chairman, Texprocil says, India’s cotton textiles exports in 2020-21 totaled $9.8 billion against the target of $13.6 billion.

ALSO READ TEXPROCIL WELCOMES THE REMOVAL OF IMPORT DUTY ON COTTON

Exports of all cotton textile and clothing products including yarn, fabrics, and made-ups to countries such as Bangladesh, the US, Portugal, and Sri Lanka grew during the year, Patodia informs.

RELEVANT NEWS TEXPROCIL: Hails the finalization of the India UAE CEPA

Yarn exports to China too increased during the year as did cotton textile exports to Egypt and Portugal, notes Siddarth Rajgopal, Executive Director.

The volume of exports also increased.

Exporters expect cotton prices to remain high and plan to rebuild their business model, factoring in high raw material prices, say experts.

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16 May 2022, Mumbai:

The Union Minister for Commerce and Industry; Consumer Affairs, Food, and Public Distribution, and Textiles, Piyush Goyal held a day-long stakeholder consultation with various sectors of the industry in Mumbai today, on India’s ongoing negotiations on Free Trade Agreements with Canada, the United Kingdom, and the European Union.

ALSO READ What Emerging New Indian FTAs Usher For Textile Sector

The Minister had separate meetings with representatives of automobiles, gem and jewellery, textiles, steel, copper, and aluminum sectors. The hybrid interaction had industry leaders and associations attending both in-person and online.

The Commerce Minister apprised the industry as to how the Agreements that are being negotiated will elevate the overall economic and commercial relations with respective partner countries which in turn will not only benefit bilateral trade but also create new jobs and provide wider social and economic opportunities.

RELEVANT NEWS  India is currently in the process of negotiating FTAs with several countries

Goyal stressed the potential benefits - both direct and complementary spill-over economic benefits, including increased investment, job creation, and employment opportunities.

The industry representatives thanked the Minister for entering into FTAs with UAE, Australia, and other nations, that too at such a fast pace fulfilling a long-lasting dream for many of them.

Further, all the stakeholders expressed gratitude to the Minister for taking into consideration concerns of Indian Industry and providing constructive inputs on this matter with a view to ensuring an overall balance between market access and domestic sensitivities.

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

12 May 2022, Mumbai:

Congratulations Sushil Agarwal for being named as one of the top 20 CFOs in India. "Mr Agarwal is the current group chief financial officer of Aditya Birla Group. He has worked for the company for nearly thirty years and has done a lot for the company." - says Shishir Gupta, founder, and CEO.

ALSO READ Aditya Birla Fashion (ABRFL) to handle Reebok India retail

Sushil Agarwal-Aditya Birla Group Mr. Sushil Agarwal is currently the Group’s Chief Financial Officer. He serves as a Director on the Board of several Group companies including Aditya Birla Capital Ltd and Aditya Birla Fashion and Retail Ltd and is also a member of the Business Review Council of the Group.

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He has remained with the Group for nearly 30 years and has the distinction of working closely with the former Chairman Late Mr. Aditya Vikram Birla and current Chairman Mr. Kumar Mangalam Birla.

He has highly contributed to many Restructurings and Mergers and Acquisitions of the Group with his widely acknowledged financial acumen and analytical skills.

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

06 May 2022, Mumbai:

Building on the success of the First textile testing lab tour of 2022 in Bangalore, TÜV Rheinland India’s Tirupur Softlines lab hosted a visit for the post-graduate students of Textile & Apparel Design from Bharathiar University, Coimbatore on 4th May 2022.

ALSO READ TESTEX opens a new office in Vietnam

The lab experts shared their insights on laboratory technology, the latest equipment, and the various test methods used in textile/apparel products with the students during the lab visit. During the visit @Dr. Amutha, Assistant Professor, Bharathiar University stated, “My students and I are very impressed with TÜV Rheinland’s state-of-the-art Textile testing facility in Tirupur.

The lab tour gives us a better perspective of the quality standards in textile testing. Thank you for the opportunity to experience and understand the importance of testing in the textile industry.”

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