India is still Suffering Shortage?
India’s cotton crop, which was growing every year has reduced for the last two years and is still facing challenges of area, yield and pests in fact, from LAKH BALES, it has come down to 336 LAKH. The surplus cotton from India has dwindled, leading to competition between exports and domestic usage and thus the industry is forced to import at the end of season. India’s value added industry especially spinning has been suffering despite a strong cotton crop – highest % slippages to NPAs in 2015. A very rampant problem affecting the country is that the domestic cotton prices are many times higher than the international prices.
According to Sanjay Jain, President, NITRA, the country doesn’t have sufficient surplus cotton, however, exports are moving strong leading to forced imports at high price.
“Our competitors (Pakistan, Bangladesh, Vietnam and China are buying 20 to 30% of our crop, forcing industry to import. Also, till today there is no mechanism for measuring crop or forecasting crop which leads to miscommunication and rumour in the market,” said he.
Most of the industry experts feel that there is a need for clear cotton fibre policy and most of the times the cotton is overpriced for the users in country even if the crop is bumper. “Some urgent steps which needs to be undertaken to ensure at least 1.5 month cotton usage stock i.e. 40 lakh bales should stay within the country,” said Sanjay.
BACKGROUND
This story is from the October 2016 edition of Perfect Sourcing.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the October 2016 edition of Perfect Sourcing.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Apparel Exports Need Fresh Lease Of Life… But How???? A Report..
Last few months have been catastrophic for apparel exports industry of India. One after the other the industry was struggling with one or the other challenge. While global competition is one aspect of the challenges within the country at the moment is being regarded as the biggest deterrent to the slow situation of the industry. Burdened with higher tariffs than their competitors, the exporters need more incentives and protection to stay afloat. India’s foreign trade policy pundits need to renegotiate tariffs on apparel exports with the EU and the US to tackle the emergent economic slowdown in the country. The apparel industry is the country’s largest low technology employer after agriculture, with 45 million workers, contributing two percent of GDP and 15 percent of export earnings.
Lectra Offering Solutions For Smart Factories & Fashion
The Conventional fashion supply chain model is too opaque, fragmented and slow to respond to diversified consumer demands, quickly enough to satisfy the customers.
Peppermint Clothing Creating Complete Range In Kidswear
Automation & Productivity Core Focus Areas Eyes Turnover of Rs 300 cr in next few years
Indian Manmade Fibre (MMF) Industry In Jeopardy: Increased Imports And Esclated Cost Affects Industry
Working out tax rates for different goods and services was a huge challenge for India’s Goods and Services Tax (GST) Council. Although the GST has taken under consideration a significant part of the industry - cotton and natural fibers, distortion has been introduced in the GST system, through the ‘inverted’ duty structure on man-made fibers. Man-made fiber and synthetic yarn attract an 18% GST rate as compared to 12% excise duty, while the fabric produced from these fibers is taxed at 5%. This creates a situation where the input is taxed at a much higher rate than the final product.
GTE Celebrating 20 Yrs Of Excellence At 2020 Edition
The Garment Technology Expo (GTE’20), one of the most trusted brands as far as exhibitions related to apparel technology is concerned is geared for its 20 years of establishments and success in the garment industry.
Manufacturing Excellence It Is All About Widening Horizons
To answer this question, Team PERFECT SOURCING interacted with experienced professionals with years of experience in management, manufacturing, lean management, merchandising, sourcing, factory set up and more. Now working as consultants to many well-known apparel units, their knowledge and experience has supported many. In a face to face encounter with them Team PERFECT SOURCING brings to you the most important aspects of manufacturing and achieving excellence therein.
APD Exports' Geared For A New Knits Factory
The company has production units in Bangalore with 350 machines and can manufacture about 1,20,000 garments/month. The Bangalore processing factory has been working with buyers like s. Oliver, Espirit, Shopco and Kohl’s and the factories.
Luxury Trinkets: The New Fashion Wave
Wallets, Key chains & Leather the new Additions in Retail Chians.
Fairs & Events
Textile Industry Positive About Growth: F&A Show Sees Good Response.
Industry Relieved As Government Clarifies Minimum Monthly Wages Not Going To Be Fixed At Rs 18,000.
After a lot of confusion and debate over the increase in minimum wages as per the new labour laws, the Government has finally given some relief to the already struggling garment industry by stating that the minimum monthly wages are not going to be fixed at Rs 18,000/-. Prior to this, The Apparel Export Promotion Council (AEPC) had urged the Indian Government to clear the confusion over minimum wages for the garment sector at the earliest, as a clarification would restore the confidence of foreign buyers.
