02 April 2022, Mumbai:

Manoj Patodia, Chairman of The Cotton Textiles Export Promotion Council (TEXPROCIL) thanked Prime Minister Narendra Modi for his visionary leadership and Piyush Goyal, Minister of Textiles, Commerce, and Industry and Consumer Affairs, Food and Public Distribution for their relentless efforts which have enabled the finalization of the India UAE CEPA (Comprehensive & Economic Partnership Agreement) on March 27, 2022.

The Chairman pointed out that with a "zero for zero" duty-free access for textiles and clothing, well supported by robust Rules of Origin, Indian export of cotton textiles to the region is poised to grow exponentially in the coming years.

ALSO READ India and the UAE have signed a historic CEPA, which will promote textile and garment exports

The CEPA is expected to generate an additional increase of USD 2 billion in overall exports over the next 5 years and will also provide a platform for SMEs to expand internationally by access to new customers, networks, and avenues of collaboration.

It is also expected to improve the Women's Workforce Participation Rate & increase employment opportunities for youth.

The Chairman mentioned that there is good potential for the export of cotton textile items like bed & bath linen, kitchen & table linen, curtains & valances, quilts and comforters, and cotton woven fabrics including denim.

RELATED NEWS CEPA to unleash India, UAE’s textile potential

With the setting up of Warehousing or Distribution Centres in UAE, the CEPA will encourage trade movement to neighboring GCC as well as African markets and initiatives like these will help in collaboration, innovation, and cooperation between the two countries.

With India crossing its ambitious target of USD 400 billion in goods export this year, the India UAE CEPA will provide the much necessary impetus and momentum to increase our exports in home textiles and fabrics to the UAE, the Chairman added.

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

01 April 2022, Mumbai:

The 53rd India Handicraft and Gift Fair (IHGF-Delhi Fair–2022) opened in Greater Noida yesterday. The 5-day show, which is organized by the Export Promotion Council for Handicrafts (EPCH), features over 2,500 exhibitors from all around India displaying products such as home textiles, lifestyle, fashion, textiles, and furniture.

The India Expo Center & Mart hosts the event, which spans 15 halls and 900 permanent showrooms. The event was opened by Darshana V. Jardosh, Union Minister of State for Textiles, and UP Singh, Secretary, Textiles.

On this occasion, Shantmanu, Development Commissioner (Handicrafts); Raj K Malhotra, Chairman; Dr. Rakesh Kumar, DG, EPCH; and another EPCH official were present.

ALSO READ 53rd IHGF Delhi Fair 2022: CONNECTING THE BEST IN INDIA's HANDICRAFTS

The fair, according to the Minister, represents the Government of India's 'Atmanirbhar Bharat Abhiyaan,' as these large numbers of handicraft exporters produce the best of an Indian home, lifestyle, fashion, textiles, and furniture from locally sourced raw materials, earning much-needed foreign exchange for the country.

UP Singh praised the inclusion of various regional handmade products from J&K, Ladakh, Rajasthan, and the North-Eastern Regions in the show's Theme & Collective Presentations, particularly those manufactured from natural and eco-friendly materials.

RELATED NEWS 53rd IHGF Delhi Fair 2022: CONNECTING THE BEST IN INDIA's HANDICRAFTS

"Over the years, a large number of interventions related to backward linkages through entrepreneurship development, skilling, product and design development, and forward linkages through marketing platforms for the complete development of the sector's ecosystem have been among EPCH's endeavors for the overall development of the handicrafts sector, leading to the increased exodus," Dr. Rakesh Kumar said, reflecting on the current optimistic sentiment of the handicrafts industry.

By the end of this fiscal year, we want to have crossed the $4 billion mark."

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CREDITS: PBI & Apparel Resources.

02 April 2022, Mumbai:

The Government has promulgated the Handlooms (Reservation of Articles for Production) Act, 1985 to protect handlooms weavers from encroachment of the powerloom and mill sector on their livelihood.

11 textiles articles with certain technical specifications are exclusively reserved for production on handlooms.

ALSO READ The Handloom Project joins with Maati by Neha Kabra on a new sustainable line

Appropriate action under provisions of the Act is taken in case of violation.

Central and State Government implementing agencies conduct inspection of powerloom units to ensure that items reserved for production on handlooms are not produced on powerlooms.

During the last three years & current year (as on 28.02.2022) implementing agencies have inspected 11,14,667 powerlooms and lodged 218 FIRs.

RELATED NEWS Textiles Industry: Handloom Census 2019-20, Working Women Count

In addition, the “Scheme for Protection of Handlooms” has provisions for capacity building of State Govt. Enforcement Machinery; awareness programmes etc. in order to curb sale of fake handloom products.

This information was given by the Minister of state for Textiles Smt. Darshana Jardosh in a written reply in the Rajya Sabha today.

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

01 April 2022, Mumbai:

Cashflow disruption may delay payments to workers & suppliers, hit payments to lenders.

• These are facing technical problems in absence of SWIFT.
• Russian banks with a presence in India issued LCs on behalf of their local importers
• Authorities jointly working to start a new network protocol

ALSO READ Indian textile engineering Industry stage a robust recovery

Many tea exporters from south India haven't received payments from Russian buyers.

"The rupee payment has come but the dollar payment has not yet come," said South India Tea Exporters Association chairman Dipak Shah. "We are clue less (about) when the exporters will get their payments.

RELATED NEWS SIMA, CHAIRMAN: Indian Textile Mills concerned about global order cancellations

"It is not only tea which is facing the pain of delayed payments," said Ajay Sahai, director-general of the Federation of Indian Export Organisations (FIEO). "Engineering, chemicals, plastics too are suffering as their payments have got stuck."

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CREDITS: ET Dt 01-04-2022 (The news article has not been edited by DFU Publications staff).

31 March 2022, Mumbai:

The Union Cabinet on Wednesday approved Rs 6,062 crore for World Bank assisted programme for the MSME sector, which is meant to improve their access to market and credit, address issues related to delayed payments, and greening of the sector apart from strengthening governance.

ALSO READ Tirupur exporters meet FM, urging to help SMEs

Raising and Accelerating MSME Performance (RAMP) scheme is to be implemented in the next financial year and is meant to address Covid-19 and generic challenges faced by the sector.

RELATED NEWS On the Udyam platform, over 66 lakh MSMEs have registered, with 95% of them being micro companies

MSMEs have been among the worst-hit segments of the economy during the pandemic period with several units shutting down due to payment and credit issues.

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

02 April 2022, Mumbai:

Piyush Goyal, Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Government of India and Mr. Dan Tehan, the Minister for Trade, Tourism and Investment, Government of Australia, will sign the India-Australia Economic Cooperation and Trade Agreement (“IndAus ECTA”) in a virtual ceremony, in the presence of Hon’ble Prime Minister of India, H.E. Shri. Narendra Modi and the Hon’ble Prime Minister of Australia, H.E. Scott Morrison tomorrow.

ALSO READ India-Australia look at taking proposed free trade agreement (FTA) to its logical conclusion

Growing India-Australia economic and commercial relations contribute to the stability and strength of a rapidly diversifying and deepening relationship between the two countries.

RELATED NEWS RBI article: To push Indian apparel exports, pursue FTAs

The IndAus ECTA, encompassing trade in goods and services, is a balanced and equitable trade agreement, which will further cement the already deep, close and strategic relations between the two countries and will significantly enhance the bilateral trade in goods and services, create new employment opportunities, raise living standards and improve the general welfare of the peoples of the two countries.

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

31 March 2022, Mumbai:

Giving effect to Union Finance & Corporate Affairs Minister Nirmala Sitharaman’s announcement in Union Budget 2022-23, the National Credit Guarantee Trustee Company Limited (NCGTC) today extended the Emergency Credit Line Guarantee Scheme (ECLGS) beyond March 2022, till March 2023.

ALSO READ  Tirupur exporters meet FM, urging to help SMEs

Further, following up on the suggestions received in the post Budget consultations held by the Finance Minister on 25th February 2022 with the Travel, Tourism and Hospitality sector and the Civil Aviation sector delegation led by the Minister of Civil Aviation, NCGTC also issued modifications to the operational guidelines for ECLGS 3.0.

Keeping this in view, the coverage, scope and extent of benefits under ECLGS 3.0 pertaining to hospitality, travel, tourism, and civil aviation sectors have been expanded.

RELATED NEWS On the Udyam platform, over 66 lakh MSMEs have registered, with 95% of them being micro companies

The modifications introduced are aimed at enabling businesses in these contact-intensive sectors to get further support through enhanced coverage and collateral-free liquidity on capped interest rates / fees.

As on 25.3.2022, loans sanctioned under ECLGS have crossed ₹ 3.19 lakh crore, and about 95% of the guarantees issued are for loans sanctioned to Micro, Small and Medium Enterprises.

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

30 March 2022, Mumbai:

India’s textile and clothing (T&C) goods grew 39.6 percent to $41,469.20 million in 2021 over the previous year. Compared to 2019, India’s T&C exports grew 16.9 percent.

Cotton was the most exported commodity during the year with exports growing 67.11 percent to $10,026.99 million in 2021 compared to 2019.

Most of India’s cotton exports were destined for the United States during the year.

The US tops cotton textile exports

US emerged as the top destination for India’s T&C exports.

Most of India’s T&C exports to the US were dominated by cotton. India exported $3736.54 million worth of cotton textiles to the US during the year.

ALSO READ Textile sector exports increase by 41% in April- December 2021 v/s last year

The second-largest export market for Indian cotton textiles was China, exports which grew 61.5 percent to $1,686.83 million in 2021 over 2019 exports.

Amongst other growing export destinations, Vietnam, Indonesia, Turkey, Guatemala and Nigeria witnessed 147.7 percent, 178 percent, 136.1 percent, 179.8, and 198 percent growth in exports respectively.

Yarn exports rise

The most exported commodity in cotton was cotton yarn which grew 68.8 percent to $ 4,919.76 million. Exports of raw cotton also increased 150 percent to $2854.41 million during the year while exports of woven cotton fabric grew 15.7 percent to $2,251.52 million.

Apparel exports decline

India’s apparel exports declined 6.4 percent to $15,205.91 million in 2021 over 2019 exports.

The dip was mostly in knitted apparel whose exports declined 0.16 percent to $7,869.08 million.

The US emerged top market for India’s knitted apparel with exports growing 22.4 percent to $2,504.67 million. Exports to other markets UAE, UK, Germany, France, Saudi Arabia, and Spain dropped in 2021 compared to 2019 exports. Exports of knitted cotton T-shirts dropped 13.2 percent to $1698.16 million in 2021.

RELATED NEWS World trade rebounds to record high in Q1 2021: Global Trade Update, UNCTAD

On the other hand, exports of cotton baby garments exports rose 11.5 percent to $790.54 million. Exports of woven apparel dropped 12.33 percent to $7,336.83 million during the year with the US emerging as the largest destination.

Woven apparel exports to the country dropped marginally by 0.9 percent from 2019 to $2,277.02 million. On the other hand, exports UK, Germany, Spain, Saudi Arabia, Japan, and Italy registered a huge drop.

In woven apparels category, exports of men’s and boy’s cotton shirts dropped 31.2 percent to $570.78 million while exports of cotton dresses grew 8.26 percent to $624.74 million.

Carpet exports grow

India’s carpet exports grew 32.09 percent in 2021 to $2,263.99 million.

Once again the US emerged as the top destination with exports growing 33.34 percent to $1, 287.11 million. India’s carpet exports to Germany, the UK, Australia, Sweden, and France are also growing at a steady rate.

Textile fabrics register maximum growth

Textile and knitted fabrics witnessed maximum growth of 172.4 percent and 166.9 percent respectively during the year.

Export of made-up textiles grew 39.7 percent to $3,459.22 million while knitted apparel rose 22.41 percent to $2,504.51 million. Woven apparel exports declined 0.9 percent to $ 2,276.79 million while export of carpets increased to $1.286.98 million.

Bangladesh dominates T&C exports

Bangladesh remains the second-largest export destination for India’s T&C goods. Exports to the country grew 107.2 percent in 2021 to $4,259.53 million.

Cotton exports to Bangladesh rose 141.7 percent to $3,735.03 million in 2021 over the 2019 exports.

RELATED NEWS SRTEPC: Textile expo ‘Source India 2022’ generates decent business

India’s T&C exports to China grew 46.5 percent to $2055.03 million in 2021 over 2019. Cotton exports to China also rose 61.53 percent to $1 686.83 million. On the other hand, exports to UK, Germany, France, and Spain declined 19.1 percent, 3.4 percent, 2 percent, and 14.2 percent respectively.

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CREDITS: Textile Excellence report

01 April 2022, Mumbai:

The Union government has decided to sell National Textile Corporation (NTC) to boost its operational viability.

For the last two decades, NTC has been incurring losses, though it made a technical profit of Rs 969 crore in FY17.

Several plans to revive the yarn and cloth manufacturer over the decades failed as it had to close down several unviable units.

ALSO READ Tamil Nadu trade unions urge for reopening of 'National Textile Corporation (NTC)' mills

The latest attempt to revive the corporation in 2012 involved a Rs 5,500 crore package by the then Board for Industrial and Financial Reconstruction (BIFR).

The package allocated funds for meeting expenses like clearing up outstanding statutory dues, one-time settlements (OTS) with financial institutions, interest payment and compensation under modified VRS.

RELATED NEWS SIMA: India to face a cotton shortage

Moreover, NTC also spent Rs 1,646 crore on modernization of mills under the revival scheme.

However, the fund infusion failed to revive the corporation as it faced a steep rise in raw material costs.

In FY20, the company reported a 13 percent rise in a net loss to Rs 350 crore.

The company’s turnover declined y 21 percent to Rs 850 crore during the year while its net worth fell by 20 percent to Rs 1,381 crore in FY20. 

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31 March 2022, Mumbai:

Piyush Goyal, Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles, invited the business community from the United Arab Emirates (UAE) to come and capitalise on the business-friendly policies and the opportunities that the emerging India is offering to global businesses.

“With the cost and trust advantage that India offers, it is time to invest in India. As partners, we can secure each other’s economic future and strengthen our partnership in the post-COVID world,” said Shri Goyal.

Shri Goyal was speaking at India’s Honour Day Celebrations at Expo2020 in Dubai.

ALSO READ Piyush Goyal: Time for the Startups to help India become self-reliant

He said, “I believe we are now at the cusp of growth and development in the years to come.

India provides talent and investor friendly policies. In most sectors, FDI is open 100%. We have several new initiatives to promote industry like the Production Linked Incentive scheme and the Make in India policy, our efforts to provide Ease-of-doing-Business, all of which will lead to ease of living for our people,” he added.

“To the global community, I say, 'Come experience India – the land of opportunities'. Let’s grow together, let’s change together, let’s transform together because together we can surmount any obstacles and achieve humongous goals and targets beyond anyone’s imagination,” said the Minister.

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

Goyal said that the new India is fearless and confident where we wish to see the prosperity of every Indian. “Next 25 years in India will signify a strong and inclusive India,” added the Minister. He said the word ‘trust’ describes India-UAE relationship.

“Our ties will remain vibrant and grow from strength to strength,” said the Minister.

Shri Goyal said, “The special partnership that Prime Minister, Shri Narendra Modi and H.H. Sheikh Mohammed bin Zayed Al Nahyan share is legendary.

RELATED NEWS Piyush Goyal: Industry has responded well to the multiple Government interventions

It’s a bond of eternal friendship symbolising trust and we are natural partners due to the complementary nature of our economies and increasing trade will always showcase the synergy that the two nations have, strengthening further, our bonds.”

“Our shared vision which has opened newer avenues, one of which is the commitment to establish an Indian Institute of Technology (IIT) in the United Arab Emirates,” added the Minister.

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

29 March 2022, Mumbai:

Organized by the Synthetic and Rayon Export Promotion Council (SRTEPC), the three-day textile exhibition ‘Source India 2022’ generated a business worth $150 million despite recording only 75 visitors from 30 countries.

The event raked in orders worth around $300 million that will be sealed after completing some formalities in the coming days. Around 52 exhibitors from India participated.

ALSO READ SRTEPC: Huge Export Opportunity in the Japanese Market

Buyers from Africa, Europe, Turkey, the US, and a few other regions visited the exhibition.

Eunice Gakungu, a buyer from Nairobi said, the exhibition was well organized and she could find the products she was looking for.

RELATED NEWS GST revised: Apparel would cost 20% higher, causing a major reaction from the Indian sector

The exhibition will help India's textile exports as the majority of buyers are not going to China, say experts.

Currently, Chinese suppliers are not in a position to supply orders on time and at old rates, they add.

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