12th August 2021, Mumbai:

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TOP 5:

• Permitting malls to reopen can save lakhs of jobs: Kumar Rajagopalan, CEO, RAI

• Supreme Court stalls Reliance-Future deal

• H&M to join Influencer-based social commerce platform 'Trell'

• Mega textile park scheme waiting in the wings: Proposal with Cabinet

• FDI in textile sector: An overview

11th August 2021, Mumbai:

Arvind Limited, a conglomerate having interests in Textiles, Technical Textiles to Technology and one of the largest manufacturer of denims globally, has tied-ud with Textile Genesis, a block-chain enabled digital transparency platform.

The company quest is for attaining greater traceabilty across Denim supply/ within its existing apparel supply chain backed by a credible traceability mechanism.

It is pertinent to state here group has a stated vision of attaining holistic sustainability goal & always been staying ahead of the curve in its earnest to adopt new technologies and has problem solving & solutions seeking approach and value capture across their and their partners’ businesses. Its 'Sustainability Mission' is for the company and it is been undertaken various initiatives for water, energy and chemical conservation the ongoing basis, including tie-ups with global brands like Gap and others for making them more effective and pronounced.

WATCH: https://www.youtube.com/watch?v=VCv7yTyzQpo

The Textile Genesis’ platform is likely to help accomplish thorough traceability of upstream (cotton onwards incl. other inputs involved) being used by Arvind to the end-customers in this extraordinary long denim industry supply chains.

TOP 5:

• Permitting malls to reopen can save lakhs of jobs: Kumar Rajagopalan, CEO, RAI

• Supreme Court stalls Reliance-Future deal

• H&M to join Influencer-based social commerce platform 'Trell'

• Mega textile park scheme waiting in the wings: Proposal with Cabinet

• FDI in textile sector: An overview

9TH AUG 2021, MUMBAI:

The sector should become strong and prosper without depending much on state support,urges new Textile Minister on the occasion of 'National Handloom Day'.

We have to look for new ways to boost handloom production and explore new markets,” the minister was quoted as saying at the event, which was also attended by textiles secretary UP Singh and weavers from different parts of the country.

The textiles minister categorically stressed on forming a team under the chairmanship of Sunil Sethi, Chairman, Fashion Design Council of India (FDCI). The team will have weavers, trainers, equipment makers, marketing experts and other stakeholders recommending ways and means to kick-in growth trajectory to impart much needed impetus to this traditional handloom sector manifesting Indian cultural ethos & heritage.

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3. The Titan Company’s Q1 income rises to Rs 3,519 crore

4. Pandemic supports the growth of local handloom industry in India

5. Despite sales declines in China, Adidas raises its outlook

12th August 2021, Mumbai:

According to the Indian Competition Commission, Grasim Industries has misused its dominant position in the supply of a certain staple fibre by charging discriminatory rates, limiting market access, and placing extra requirements on its customers.

According to an order dated August 6, the commission ordered the firm to halt and desist from engaging in such acts, which were determined to be in violation of the Competition Act. According to the CCI, the company "abuses its dominant position in the relevant market of 'the market for the supply of VSF to spinners in India' by charging discriminatory rates, restricting market access, and imposing extra responsibilities on its customers."

"While the Company has yet to obtain a certified copy of the stated ruling," Grasim Industries wrote in a regulatory filing dated August 9, "it thinks that on merits it has sufficient grounds for an appeal." The regulator decided not impose any monetary penalties on the company, despite the fact that it had already been fined Rs 301.61 crore by an order issued in March 2020 for basically similar behaviour. Furthermore, the period of violation in this case (2017-18) overlapped with the period of contravention in the preceding case (2012-2017). 

The commission stated that Grasim Industries is the country's sole producer of viscose staple fibre (VSF) and holds a dominant position in the relevant market for VSF supply to Indian spinners. The only other way for spinners in the country to get VSF was to import it, which was not an economically viable option. "The market for the supply of VSF to spinners in India," as defined by the CCI, was the relevant market. The fair trade regulator stated that Grasim Industries' actions in requesting details of VSF consumed by domestic spinners in order to provide a discount are nothing more than an attempt by a dominant undertaking to exert control over the entire market in its favour by imposing conditions that not only impose supplementary obligations on small players but also restrict their freedom of trade.

"The Commission is satisfied that by compelling spinners to submit output details, OP has asserted its market dominance over small players and has acted in an unfair way," the statement added. The regulator stated that in the instance of one of the informants, Grasim Industries withdrew all discounts/credit notes, making the supply of VSF expensive for it and making the VSF yarn it created uncompetitive. The injunction was issued after three informants made complaints against the company alleging that it had abused its dominating position. The commission had ordered the director-general (DG) to investigate the situation and provide a report.

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• Permitting malls to reopen can save lakhs of jobs: Kumar Rajagopalan, CEO, RAI

• Supreme Court stalls Reliance-Future deal

• H&M to join Influencer-based social commerce platform 'Trell'

• Mega textile park scheme waiting in the wings: Proposal with Cabinet

• FDI in textile sector: An overview

9th August 2021, Mumbai: 

Minister of state for finance Pankaj Chaudhary told recently on the floor of the parliament that a 5% basic customs duty and a 5% agriculture infrastructure and development cess was imposed on raw cotton in FY22 budget to benefit domestic cotton farmers. 

Minister also asserted that 'The cotton Association of India (CAI)' has sought withdrawal of the 10% duty levied on imports saying the commodity has become unaffordable and it is badly hurting the interest of domestic textile industry. He unequivocally advocated that farmers are hurt by a spike in imports despite on the back of the fact that there is excess availability of local cotton which T&A trade should look at tapping into.

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Minister lamented that,"All varieties of cotton, including even the varieties which were produced in India are being imported in large quantities which state is quite concerned about"

TOP 5:

• Permitting malls to reopen can save lakhs of jobs: Kumar Rajagopalan, CEO, RAI

• Supreme Court stalls Reliance-Future deal

• H&M to join Influencer-based social commerce platform 'Trell'

• Mega textile park scheme waiting in the wings: Proposal with Cabinet

• FDI in textile sector: An overview

9th Aug 2021, Mumbai:

The World Trade Organisation (WTO) as per recent observation, "No other category of manufactured goods support net exporting position as the textile sector in the context of developing nations”

Indian domestic textile and apparel market has been estimated at US$ 75 billion in the financial year 2020-21. The market fell 30 percent from US$ 106 billion in the financial year 2019-20. Putting the backdrop in quick context,"The domino effects of COVID-19 where world arguably for 1st time ever had supply & demand shocks. This blackswan even threw unprecedented challenges to global economy, no brainer that heat was on the Indian Textile sector too. This negative impact is not limited to Productivity loss but has quite significantly impacted On the livelihoods as there has been a massive job loss.

Thus far Textile sector has contributed significantly to national output, employment, and exports. Indian Textile industry contibutes about 14% to industrial production (IIP); 4% to the country’s gross domestic product (GDP); 17% to its export earnings; and takes primacy as a frontrunner in generating employment for over 35 million people. It is considered to be the second-largest employment generator after agriculture.  

It is said every crisis has opportunity hidden in it. For once, India has a real chance to emerge as a global manufacturing hub by deepening integration with global supply chains; considering consumption world is looking for CHINA+1 policy seriously. Therefore, Turning this dream-vision into reality will need cohort/ active support and participation from the government and all the involved stakeholders alike.

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2. Permitting malls to reopen can save lakhs of jobs: Kumar Rajagopalan, CEO, RAI

3. Supreme Court stalls Reliance-Future deal

4. FDI in textile sector: An overview

5. Pandemic supports the growth of local handloom industry in India

9th Aug 2021, Mumbai:

Prime Minister Narendra Modi clearly articulated four pinpointed factors to give a fillip to exports and appealed & exhorted all stakeholders to identify new products and destinations to make exports basket more suited to achieve dream goal post of $400Bn this FY.

It is here imperative to mention that globally most of the consumption countries already doggedly pursuing for China+1 policy, on the back of the fact anti-china sentiment also is a fundamental tailwind for Indian Textile sector which is globally already second biggest textile economy away from China.

H'ble PM has categorically stressed in on the following four points to enhance export capabilities out of India–

increase in manufacturing, reduction in transport and logistics cost, government walking shoulder to shoulder with the exporters and pursuing for international markets even for domestic goods to attain global competitiveness as a preparedness

Given the above is a pathway to help achieve sector the goals of Make in India and a larger issue of accomplishing Atmanirbhar Bharat one day, assert TEXPROCIL the nodal trade agency in their reaction to this clarion call from the head of the state. Manoj Kumar Patodia, Chairman, TEXPROCIL concurred that Prime Minister’s address was very inspiring and will certainly encourage all the exporters to strive to increase exports and achieve the national target of $400 billion in 2021-22.

WATCH: https://www.youtube.com/watch?v=RRu5rJuQGns

Towards this end PM Modi has shown a resolute intent by interacting comprehensively with the heads of the Indian Missions overseas and with multi-stakeholders such as the trade Export Promotion Councils, Chambers of Commerce, secretaries of various pertinent departments and concerned state government officials via video conference (VC) on August 6, 2021 to help facilitate this desired outcome. 

The long standing wish of appealing to the government to include textiles in the priority list while negotiating FTAs with UK, Canada, Australia and the EU remains a given.

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5. Retailers Association of India (RAI) expresses disappointment over malls not being allowed to operate

6TH AUG 2021, MUMBAI:

The government informed Parliament earlier this week that the proposed scheme to launch seven mega investment textile parks (MITRA) is in the making and is stuck at Cabinet approval level and is work in progress (MITRA) is awaiting approval of the Cabinet.

Minister of State for textiles Darshana Jardosh told Rajya Sabha that we are in the serious mode of review, evaluation regard to the location of MITRAs in different states in order to work out the modalities as the process unfolds.

Watch: https://www.youtube.com/watch?v=U0NAm6oPubs

MoS stated as the things stand, Rs 1,469 crore of grant has been launched, 1.02 lakh employment thus generated and up until now Rs 13,311 crore investments have been attracted in the ongoing 'Scheme for Integrated Textile Parks'.

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Top 5:

1. House of Anita Dongre's joins CanopyStyle and Pack4Good initiatives

2. Arvind Ltd’s exports to EU, UK and US to surge in Q2 FY’21

3. The Titan Company’s Q1 income rises to Rs 3,519 crore

4. Pandemic supports the growth of local handloom industry in India

5. Despite sales declines in China, Adidas raises its outlook

11th August 2021, Mumbai:

India’s leading & one of prominent global home textiles giant Welspun has lined up (CAPEX) capital expenditure of approx Rs. 600 crore in the current fiscal for completing expansion projects across its three business verticals.

With demand tailwind company is experiencing & on the back of the fact that expansion will kick off it expects its top line to grow by over 15% in FY22, company is believed to be expanding its capacity through debottlenecking and rebalancing at both the plants, triggering incremental capacity for HOME FASHION (towels, bed linen), rugs, and carpets side of business.

Downside risks

WHILST external environment continues to remain unpredictable, given the looming 3rd wave of the pandemic.

Way forward

Sustainable resilience and adapting to fast changing trade landscape is the key to success for this 'Global Envy & Nation's Pride'

TOP 5:

• Permitting malls to reopen can save lakhs of jobs: Kumar Rajagopalan, CEO, RAI

• Supreme Court stalls Reliance-Future deal

• H&M to join Influencer-based social commerce platform 'Trell'

• Mega textile park scheme waiting in the wings: Proposal with Cabinet

• FDI in textile sector: An overview

6TH AUG 2021, MUMBAI:

Textile and garment exporters have vehemently sought intervention of the Union government  to address the issue of container shortage in this impending dilemma facing the community lest it kills the exports potential at a time when global trade has started to show definite signs of recovery.

The same has already been represented to recently by all the export promotion council heads in an interaction with the H'ble Prime Minister, apprising him of the challenges they are faced with on the logistics front.

Manoj Kumar Patodia, chairman of the Cotton Textiles Export Promotion Council (TEXPROCIL), "The acute shortage of containers and the crying need for urgent focus on logistics development is key challenge trade is currently grappling with.

Dr A Sakhtivel, Chairman AEPC also urged the Government to timely intervene to address the issue of container shortages faced by the exporters which is turning out to be sore point in the growing exports story.

Also he empathically appealed to the Government to take into consideration 'Textiles in the priority list' while negotiating Free Trade Agreements (FTAs) with the UK, the European Union, Canada, and Australia etc.

WATCH: https://www.youtube.com/watch?v=l7FjEN5ckI8

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Top 5:

1. House of Anita Dongre's joins CanopyStyle and Pack4Good initiatives

2. Arvind Ltd’s exports to EU, UK and US to surge in Q2 FY’21

3. The Titan Company’s Q1 income rises to Rs 3,519 crore

4. Pandemic supports the growth of local handloom industry in India

5. Despite sales declines in China, Adidas raises its outlook

6TH AUG 2021, MUMBAI:

As per The Press Information Bureau (PIB) is the nodal agency of the Government of India, "Government FDI Policy for Textiles Sector, Textiles is open to FDI under automatic route since long. As a conservative estimate Nearly 80% of textiles units in India are MSME, SMBs/ informal sector of the economy resulting in fragmented state & nature of sector"

Historically FDI inflows serve to perk up domestic capital, available resource and facilitate to promote industrial development thereby increase its production capacity and work in as backbone to the industry, Augment export competitiveness, enhance job/ employment opportunities across textiles supply chains.

Watch: https://www.youtube.com/watch?v=Azjrx8q2nv8

Positive impact includes incremental investments as a natural corollary bring in international best practices and introduction to cutting edge/ state of the art knowhow & technologies across this deep sector resulting in visible supplement to all-round economic growth and harmonic development in the sector and to the economy per say. 

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