My first Magazine Latest Edtion (18 March 2019) | Page 3

www.gtanews.in Global Textiles & Apparels, Mumbai, 18 March 2019 Associations & Company affairs 03 Arvind Envisol to joint venture with Chinese Company Garmon introduces the greenofchange days MUMBAI: Arvind Envisol, the waste water treatment arm of Rs 6,900 crore textile firm Arvind Ltd, is looking for collaborations across India, Africa, Bangladesh and China for driving growth and is in the final stages of signing a joint venture agreement with a Chinese textile company, said people aware of the matter. The company has emerged as one of the major focus areas within the group ever since a demerger last year split the parent into four listed companies. While the JV with the Chinese company is expected to be announced in the next three months, Arvind Envisol is also in talks with the World Bank and International Finance Corporation (IFC) among others to execute water treatment projects in Bangladesh, whose economy depends heavily on the heavily polluting textile and clothing industry. In India, it expects to accelerate growth by launching its components business, Kaigo. It expects this unit to contribute 25% to its overall revenue in the next three years and establish the company’s presence in the consumer sector by supplying directly to original equipment manufacturers (OEMs) and end users. Subscribers of Global Textiles & Apparels are requested to update their profile & contact information by sending us e-mail, so that can be put on the Regular Mailing List. E-mail: [email protected], [email protected] Pakistan Textile Exports increased by 2% Pakistan: According to the Pakistan Bureau of Statistics (PBS), Pakistan’s textile and clothing exports increased by 2% year-on-year to $8.9 billion in the first eight months of current fiscal year. One of the reasons for the partial revival in exports is a result of cash subsidy offered under the Prime Minister’s Exports Enhancement Package. Moreover, the government has also released the pending refunds to taxpayers. The government believes that better energy supplies coupled with more than 33pc depreciation of rupee has played its role in promoting exports. In rupee terms, the growth in exports of textile and clothing was reported at nearly 25pc in the period under review. The government has also announced to clear outstanding refunds and rebate through issuance of bonds. In the first phase, government will issue bonds worth Rs80bn against outstanding refunds. The primary growth driver was the value-added textile sector as ready-made garments’ exports went up 2.72pc during the eight months in value and 27pc in quantity. Similarly, exports of knitwear edged up 11.4pc in value and 18.3pc in quantity during the period under review. Among primary commodities, cotton yarn exports declined by 13.53pc, yarn other than cotton by 0.79pc whereas made- up articles — excluding towels — increased by 2.12pc, tents, canvas and tarpaulin up by 5.2pc with proceeds from raw cotton dipping by 72.49pc during the period under review. Contrary to this, exports of non-textile products went up by 3.15pc to $6.21bn in the first eight months of this fiscal year as against $6.02bn over the corresponding months last year. Last year, the government extended cash support package to non-textile products: leather manufacturers, footwear, sports goods, surgical, engineering goods, furniture, meat and meat products, fish products and cutlery. Data shows an increase of 23.64pc YoY in exports of petroleum products. Petroleum crude and naphtha led the increase in sector’s exports. Exports of carpets and rugs witnessed a negative growth of 12.03pc during July- February from a year ago whereas sports’ goods exports dipped by 7.85pc YoY and foreign sales of footballs dipped by 5pc. Tanned leather exports witnessed a negative growth of 21.73pc in July-Feb from a year ago. The value-added exports of leather products’ posed a negative growth of 7.3pc during the period under review. This decline was mainly led by sales of leather garments. Footwear exports jumped 14.55pc mainly driven by footwear sales. Exports of surgical goods and medical instruments went up by 1.71pc and engineering goods declined by 10.65pc. YoY exports of gur (jaggery) were up by 6.58pc, cement 37.5pc and gems 10pc during the period under review. However, exports of molasses fell by 39.9pc, handicrafts 100pc, jewellery 22.48pc and furniture 2.1pc during the eight months. In the food basket, basmati rice exports witnessed a robust growth of 14.8pc, however, non-basmati rice exports dipped by 5.44pc. Meat and wheat emerged as the other two major exports commodities which recorded growth during the period. Other products which also posted growth include oil, fish, seeds, pulses, spices, fruits, vegetables and tobacco. Mumbai: Garmon Chemicals announces important news in terms of sustainable innovation. The company keeps on promoting the greenofchange® platform, the system dedicated to the improvement of environmental safety and performance of textile chemistry. Following the success of the first greenofchange® Day, held in Jakarta the 16th November 2018, an intense schedule of international workshops takes shape through a series of new appointments for 2019. 11 March - Lahore (Pakistan) at The Nishat Emporium, 13 April - New Delhi (India), Third/Fourth quarter 2019: Dhaka (Bangladesh), Shanghai (China) As an innovative format that brings together textile industry stakeholders with the fashion community, greenofchange® Days involve teachers, opinion leaders and technicians, encouraged to share their expertise and best-practices. The goal is to improve the knowledge related to sustainability and develop new strategies to enhance the entire industry. Moreover, the greenofchange® Days give the opportunity to discover the innovative solutions developed by Garmon, such as the Stretch Care line, dedicated to increasing the quality and performance of stretch fabrics, or Avol Oxy White, an ecologically advanced substitute of potassium permanganate for denim local bleaching. The greenofchange® platform. With the greenofchange® platform Garmon offers a solid and innovative approach to the problem of sustainability in the fashion industry. ICA & CAI reinforce MoU Mumbai: The International Cotton Association (ICA) and the Cotton Association of India (CAI) had renewed their memorandum of understanding (MoU) to reinforce the alliance and cooperation between the two associations. The alliance was first established when the MoU was created in January 2014 to formally acknowledge the relationship between the associations. With the large majority of international raw cotton contracts traded under ICA Bylaws & Rules and India’s market position as the world’s largest producer of cotton, this renewed alliance is significant for the trade, with both associations confident that it will continue to benefit the entire industry, ICA said in a press release. The MoU will help continue to foster greater cooperation between the two associations and enable them to work more closely on a number of shared goals, which include promoting sanctity of contract; training and visit programmes; information exchange and dissemination; diplomatic initiatives; testing and quality issues.