My first Magazine Global Textiles & Apparels E-PAPER - (20 July 2018

Daily E-Paper
MAHENG/2007/20880 Vol. 01 No. 92
Mumbai, Wednesday , 20 July 2018
Minister seeks support in LDC transition phase Govt. taking step to improve Cotton Production
Bangladesh: With
apprehensions looming large
as to the economic implications
of graduating from a Least
Developed Country (LDC) to a
developing nation, especially
amongst the country’s apparel
exporters, Bangladesh’s Planning
Minister called upon the country’s
trading partners to extend support
to the country in this transitional
phase so as to ensure a smooth
and sustainable graduation.
It may be mentioned here
that given Bangladesh’s rate of
progress, the country is expected
to graduate from the LDC status
by 2024.
Bangladesh is jointly co-
hosting the international event on
‘Supporting Smooth Transition of
the LDCs towards a Sustainable
Graduation’ in the ‘High Level
Political Forum’ at New York to
push for getting the LDC-related
benefits for an extended period.
As LDC, Bangladesh
currently enjoys 12 per cent
preference margin for its apparel
exports to Europe under the
European Union’s Everything but
Arms (EBA) Initiative.
Impact of GST on Surat textile industry
Surat: The Federation of
Gujarat Weavers Association
(FOGWA) and its subsidiary
Pandesara Weavers Association
has urged Odisha Chief Minister
to raise their concerns to the
centre.
T h e Te x t i l e b o d i e s
had described how the
implementation of GST in July
last year still haunts the industry
and resulted into job loss for
around 40,000 workers.
The textile industry in
Gujarat offers employment to
more than 5 lakh people from
Odisha, mainly from tribal areas.
The impact of GST on
textile industry prepared by the
FOFWA was discussed during
an open discussion organized by
the Southern Gujarat Chamber
of Commerce and Industry
(SGCCI). GST officials in Surat
and textile industry members
attended the discussion.
The implementation of
GST resulted into closure of
6,000 powerloom factories and
more than 1 lakh powerloom
machines was scrapped.
A total of 4 lakh powerloom
workers lost their jobs while those
operational has reported decline
in their production capacity.
The Yarn cost despite
reduction of GST from 18 per cent
to 12 per cent still causes trouble
to the powerloom industry.
India has noted an
increase in garment import post
GST, claimed by the FOGWA.
India imposes anti-dumping duty on CPY
Mumbai: India has
imposed anti-dumping duty of
up to US$ 528 per tonne for five
years on a Chinese Polyester
Yarn used in automotive and
other industries.
The move will provide a
level playing field to domestic
players and guard them
against below-cost imports.
The Commerce
Ministry’s investigation arm
Directorate General of Anti-
dumping and Allied Duties
(DGAD) had recommended
the duty after a probe into
alleged dumping of High
Tenacity Polyester Yarn from
China.
High tenacity polyester
yarn, also called industrial
yarn, is used for manufacture
of tyre cord fabric, seat belt
webbing, ropes, coated
fabric, conveyor belt fabric
and automotive hose.
The probe followed
complaints by the domestic
players, who alleged that
below-cost import of the yarn
from China is hurting the
industry in India.
The finance ministry
has imposed the duty on the
product after considering the
recommendations of DGAD.
The duty is also aimed
at ensuring fair trading
practises and creating a
level-playing field for
domestic producers with
regard to foreign producers
and exporters.
India has already
imposed anti-dumping duty
on several products to check
cheap imports from countries
including China, with which
India has a major concern of
widening trade deficit, which
has increased to US$ 63.12
billion in 2017-18.
New Delhi: The Handloom
& Textiles Minister said that the
State Government has been taking
strides to improve the production
of cotton in the state. The Minister
said that 61% of the spinning mills
in the country are in Tamil Nadu.
But the State produces only 5% of
the required cotton.
The remaining 95% is
brought from the northern states.
The change in climatic conditions
and other factors had resulted
in the drop in cotton production,
due to which cost of a bale
has escalated from Rs 24,000
to Rs 51,000. The sericulture
department is also working on
increasing silk production to reach
a state of self-sufficiency to bring
down the price.
The Government offers
49% subsidy to establish CETPs
but there is stiff opposition from
public when they come to know
that a CETP is coming in their
locality. They had established a
CETP at a cost of Rs 700 crore in
Tirupur with a subsidy of Rs 175
crore and an interest-free loan
of Rs 200 crore. They are ready
to establish any number of such
CETPs. The Principal Secretary
for the department of handlooms,
handicrafts, textiles and khadi,
had made an appeal to weavers to
attract the younger generation with
products that would attract them.
Pages 05
INSIDE NEWS
Rieter sales
increase in the
first half of 2018
Mumbai: Rieter’s
sales increased to CHF
515.3 million in the first
half of 2018, an increase
of 24% compared to the
previous year period (first
half year 2017: CHF 415.2
million). Page 05