INDUSTRY LIVE
IIGF to be held at Greater Noida
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The upcoming 61st edition of Indian International Garment Fair( IIGF) scheduled to take place from 16 to 18th July 2018, will be held at Expo Mart, Greater Noida. Earlier the event used to take place at Pragati Maidan( Delhi). The decision has been taken due to the ongoing construction work at Pragati Maidan being held in full swing.
AEPC, the organisers of the show, have claimed that there will be no trouble due to change in venue.“ Expo Mart is a world-class venue and all kinds of amenities are already available there. Noida is also a world-class city and we are offering hotel stay in Noida, pick and drop to the buyers and buying houses( apart from Delhi-NCR),
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so there will be no inconvenience to anyone,” informed Lalit Thukral, Chairman, Exhibition Advisory Committee( EAC), AEPC. He further added that |
UP will be a partner state for the event as the State Government is promoting apparel manufacturing in Noida. Also Noida was recently announced‘ City of Apparels’ by |
the UP Government. Focusing on Spring / Summer 2019 collections, the show is expected to witness participation from nearly 550 exporters from across India. |
Garmenting: Rs. 122 cr. subsidy against the investment of Rs. 1083 cr.
Under the Amended Technology Upgradation Scheme( ATUFS) for the financial year 2017- 2018( till 30th January 2018) in garmenting, a total of 776 applications have been received and out of them, 613 UID have been issued. Project cost of these investments is Rs. 1083.17 crore, and the same is expected to generate 44,204 new employment opportunities. For these applications, subsidy amount is Rs. 122.10 crore. For garmenting, there is 15 per cent capital investment subsidy( CIS) on eligible machines, while it is Rs. 30 crore for individual entity. These details were revealed in the Ministry of Textiles’ annual report for 2017-18.
Weaving segment is the most aggressive segment regarding this scheme as in the same period, there are 5,130( maximum) applications from the segment and out of them, 4,252 UID have been issued. With the investment of Rs. 15,371.12 crore, 1,16,545 fresh employment generation was claimed in this segment. The subsidy availed was of Rs. 309.33 crore. Overall out of total 5,130 applications, 876 are under process at various levels. The 257-page report also claims that during FYs 2016-17 and 2017-18, more than 4 lakh people have been provided employment in the textile industry after training under the Integrated Skill Development Scheme( ISDS). So far, under this scheme, a total of 11.04 lakh people have been provided skilling, out of which 8.24 lakh have been placed.
India ' s apparel export plummets(-) 17.78 % in March 2018
India’ s apparel exports observed a massive Y-o-Y(-) 17.78 per cent plunge in March 2018. Realising the criticality, Apparel Export Promotion Council( AEPC) has raised concerns over the sluggishness of apparel exports in India while other hubs such as Bangladesh and Vietnam are enjoying a consistent growth rate. The Indian apparel industry generated mere US $ 1.49 billion( approx.) in export revenue in the month of March 2018 against the corresponding monath of February 2017 at US $ 1.81 billion. In rupee terms, the as exports for the month were Rs. 9,694.68 crore as against Rs. 11,946.37 crore in March 2017, down by 18.85 per cent.
Globally, India reported a 3.83 per cent decline in RMG exports to US $ 16.71 billion in the period of April-March 2017-18 as compared to US $ 17.38 billion in the same period of 2016-17.“ The export
India has already witnessed a drop of(-) 4.7 per cent in apparel production in the month of February 2018. This is the tenth straight month when the industry has registered a decline in apparel manufacturing.
figures for apparels for the period April to March 2017-18 have shown a drastic decline of(-) 3.83 per cent and a steep decline of(-) 17.78 per cent for the month of March 2018 alone. These figures clearly show that apparel exports are not only stagnating, but are heading towards recession,” maintained HKL Magu, Chairman, AEPC.
42 Apparel Online India | MAY 1-15, 2018 | www. apparelresources. com