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