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After a review in August, to bring the necessary amendment of the ILO Bangladesh, soon the draft law of the proposed Export-Processing Zones (EPZ) Labour Act, 2016, will be before the parliament. Bangladesh submitted this commitment to the conference committee at the annual conference of the International Labour Organisation (ILO), now in progress in Geneva. Over the last few years the EU and the US, have been putting pressure on Bangladesh’s government to bring the necessary amendment to the EPZ laws for allowing full freedom of association.
EU has threatened the suspension of the GSP, if the EPZ law is not amended .Bangladesh in the Geneva meeting further stated that it had already held its first meeting, demonstrating that work was being done to conform to the standards of the ILO. Bangladesh confirmed to a better and safer workplace for workers and to uphold their rights to collective bargaining, freedom of association and their right to strike for realising their legal demands. Besides, a transparent remediation strategy needs to be created and shared with the committee by the end of August 2017.
The government further reiterated its achieving full and productive employment and decent work for all by 2030, in line with the 2030 agenda for Sustainable Development. In order to achieve the goal there was a continuous cooperation, support and understanding that Bangladesh sought. .
According to the workers, the government had not kept any promise and had made no progress which made the situation worsened every year. This government’s failures had anyways no effect of any kind, the worker members state.
Textile colourant market is projected to increase to 6,248 thousand tonnes in 2017. Demand for textile colourants is anticipated to remain steady on account of growing applications in apparel and automotive industries. Owing to low labour costs and infrastructure developmentthe demand is anticipated to remain higher in developing countries among which Asia Pacific accounted 53 per cent revenue share of the global textiles market in 2014.
By fibre type, cotton remains the largest segment, followed by nylon and polyester. Demand for cotton textile colourants has expected to reach 561.6 thousand tonnes in 2017 as compared to 2016. As well as acrylic is projected to grow at the fastest CAGR.
The market has been segmented the dye type, into Reactive dye, Acid dye, direct dye, Disperse dye and Basic dye. Among these, reactive dye accounts for the highest volume share of the market and has projected to increase to over 636 thousand tonnes in 2017. Demand for acid dye, the second largest dye type, is expected to reach 586 thousand tonnes in 2017.The global textile colourant market has been segmented into powder, granules, paste, and liquid. Among these, demand for textile colourants in powder form is accounting for 663 thousand tonnes in demand.
By application, the market has been segmented into apparels, household, technical textiles, automotive, and accessories. Demand for textile colourants in apparels is projected to surpass 1065 thousand tonnes in 2017. Excluding Japan Asia Pacific remains the largest market for textile colourants globally it is expected to grow to 925.5 thousand tonnes in 2017.China colourants market is anticipated to grow at 5.2 per cent in terms of value during the forecast period.
The GST council’s decision of considering any rate revision only after three months has come as a severe blow for the garmenting, made-ups and synthetic spinning sectors. The industry was hoping job work relating to garmenting/made-ups would be included under the service tax list of five per cent GST rate, according to Southern India Mills Association (SIMA)
More than 80 per cent of the garment/ made-ups manufacturing units are in the decentralized sector and undertake job work. The industry fears these units would become unviable with a 18 per cent service tax on job work when compared to vertically integrated manufacturing units.
The apprehension is that the decision to consider GST revision after three months would paralyze the decentralized garment/ made- up segments that predominantly function with job work. Thousands of units in the synthetic spinning sector would be closed and throw several lakhs of people out of jobs.
The Southern India Mills Association wants job work in the garment and made- up segments to be included under the five per cent service tax. It also wants the GST rate on manmade fiber and blended yarn to be reduced from 18 per cent to 12 per cent.
The garment / made-up sector is thought to be the largest employment provider in the entire textile value chain creating 100 to 150 jobs per a crore rupees of investment.
More than 50 global retailers are planning to enter India within the next six months. Brands such as Korres, Migato, Evisu, Wallstreet English, Pasta Mania, Lush Addiction, Melting Pot and Monnalisa, many from the US and Singapore, are expected to open a total of 3000 stores.
These small and mid-sized brands are looking to cash in on the open retail policy and the huge gap in the market for branded products. Of the incoming brands, 18 are in the food and beverage space followed by 13 each in apparel and lifestyle products and education products. They have their eye mostly on smaller, untapped markets within the country.
As retailers struggle in their home markets, India could be the next bright spot for the industry, as it has allowed 100 per cent foreign ownership in business-to-business e-commerce businesses and for retailers that sell food products manufactured in India. The efforts to boost cashless payments and reform indirect taxation with a nationwide goods and services tax are also expected to accelerate adoption of modern retail.
The first retail wave happened a decade ago when bigger retailers and brands entered India. Earlier this month, India replaced China as the most promising retail market in the world.
Zegna has unveiled its Techmerino spring/summer ’18 collection in collaboration with Woolmark. Techmerino is a fusion of the best attributes of merino wool with the most sophisticated wool processing and finishing techniques. The result is a breathable waterproof fabric that adapts to the ambient temperature and is quick drying. Techmerino introduces a new way to enhance the versatile characteristics of merino wool in the active wear market, highlighting the fiber’s ideal use for sporting activities.
Merino wool is one of the most technically advanced natural fibers in the world, with exceptional properties of moisture management and temperature control. It combines lightness, softness and breathability with outstanding performance, with no other fiber – natural or manmade – able to match all of wool’s benefits.
Ermenegildo Zegna has always chosen merino wool as the fiber of excellence for its collections and has a long-standing relationship with Woolmark.
The eclectic mix of contemporary Italian style and active wear emphasises uninhibited motion. As navy and deep ocean blues are paired with matt black and aluminum greys, subtle whites and vibrant maritime-inspired accents in yellow and orange are boldly decisive. Silhouettes are sharp yet easy, sportswear layering plays with innovative tailoring, cutting edge details and an ample use of nautical-inspired chromatic graphics encourage a sense of freedom and the thirst for adventure.
Monthly supply-demand estimates showing a largely unexpected cut in US 2017-18 exports and a buildup in world ending stocks outside China helped set the stage for a marketing week sell-off in cotton futures.
July lost 464 points for the week ended Thursday to close at 71.91 cents, its lowest close since December 30. December shed 363 points to settle at 69.47 cents, its lowest finish since December 28.
The market lost ground across the board five sessions in a row. July has closed on the plus side only once in the last ten sessions, while December has finished lower in five of the last six calendar weeks.
Disappointing US weekly export sales, with old-crop upland sales slowing to the second lowest of the marketing year, helped to keep the market in a steep downtrend.
US all-cotton export sales for shipment this season came in below expectations. Commitments held a lead of about 63 per cent over cumulative sales a year ago. The forecast is for exports to reach the second largest on record, up 58 per cent from last season.
Commitments stand at 103 per cent of the export forecast, compared with 101 per cent of final shipments at the corresponding point last season. Some of the 2016-17 commitments will be used to help meet domestic mill and export needs through about the first three months of the 2017-18 marketing year ahead of volume movement of the new crop.
On the US crop scene, cotton conditions improved during the previous week, with good to excellent up five percentage points to 66 per cent. That compares with 53 per cent good-excellent a year ago. Cotton rated fair dropped four points to 29 per cent and poor to very poor dipped a point to five per cent.
Disappointing US weekly export sales, with old-crop upland sales slowing to the second lowest of the marketing year, helped to keep the market in a steep downtrend. US all-cotton export sales for shipment this season came in below expectations. The forecast is for exports to reach the second largest on record, up 58 per cent from last season.
Commitments stand at 103 per cent of the export forecast, compared with 101 per cent of final shipments at the corresponding point last season. Some of the 2016-17 commitments will be used to help meet domestic mill and export needs through about the first three months of the 2017-18 marketing year ahead of volume movement of the new crop.
The projected range for the 2017-18 marketing year farm price remained at 54 to 74 cents. The midpoint of 64 cents is down from the 2016-17 price estimate of 68.50 cents, which was reduced 50 points, but up from 61.20 cents in 2015-16.
Swim Week Colombo 2018, taking place from June 27 to July 2 with runway shows on June 30 and July 1, will showcase the latest swimwear collections of eleven progressive Sri Lankan designers and three international designers. Swim Week Colombo is the foremost platform for swimwear designers in Sri Lanka as well as the region and brings together some of the leading minds in the fine art of swimwear the world over.
Sri Lanka is renowned globally for its world-class swimwear manufacturing capabilities, which has engineered and produced swimwear for some of the world’s finest swimwear brands. This will lends itself the potential to become a global swimwear hub.
Ajai V. Singh founder of Swim Week Colombo speaking at the launch stated that Swim Week Colombo is a strategic fashion development project which aims to showcase Sri Lanka as an expert is swimwear, resort and active wear. This year we are adopting a positioning which is close to our heart and creates an ecosystem based on Green Consciousness.
Swim Week Colombo is strongly attempting to take the position of the world's first eco-ethical fashion week, and branding has been developed as Swim Week Colombo, Green Conscious and Earth Sensitive. In order to qualify this, three pillars of impact have been detailed; impact on garment, impact on supply chain and impact on the environment. This season, each participating designer needs to implement any one or more of the above impacts to participate. So every collection is in some way contributing to being Green Conscious and Earth Sensitive.
The Southern India Mills’ Association (SIMA) says there will be huge accumulation of excess credit with 18 per cent GST rate on yarn and only five per cent GST rate and non-refund of accumulated input tax credit at the fabric stage.
SIMA feels this would significantly increase the fabric cost and seriously affect the independent spinning and weaving units including the power loom sector. The textile industry wants the GST rate on manmade fibers, filaments and yarns to be reduced from 18 per cent to 12 per cent and garments, made-ups and other sewn product related to job work to be included under five per cent GST rate of service tax.
As of now 18 per cent is the GST rate for manmade fibers, filaments and yarn. Refund of accumulation of input tax credit at the fabric stage that attracts only five per cent GST rate will not be allowed. Job work on garment and made-ups related activities has not been included under the five per cent rate of service tax.
SIMA says the differential rates and non-refund of accumulated input tax credit would not only affect the industry but also lead to wrong declaration and corruption. It has pleaded for refund of accumulated input tax credit at the fabric stage to protect the interests of the power loom sector.
Liquidity was low in the Brazilian cotton market in the first fortnight of June 2017 due to reduced supply in the spot market. Despite the interest in new acquisitions, some processors did not show interest in purchasing for quick-delivery in light of the low quality of the available batches.
Purchasers need to buy small volumes only to replenish inventories and/or to accomplish contracts. With the beginning of the 2016-17 harvesting, cotton from the 2015-16 crop continued concentrated with a few agents, who kept firm regarding asking prices, despite the reduced quality.
In this context, cotton prices oscillated in the market in that period. From May 31 to June 14, the CEPEA/ESALQ Index, eight-day payment terms, for cotton type 41-4, delivered in São Paulo, increased a slight 0.45 per cent, closing at 2.7910 BRL per pound on June 14. Agents were focused on trades involving the 2016-17 crop, mainly for shipment in the coming months and deliveries in Brazil.
Brazilian cotton production in the 2016-17 crop may increase by 15.4 per cent, totaling 1.488 million tons. The boost is due to expectations for a sharp increase at 17.4 per cent in productivity since the estimated area is 1.7 per cent smaller compared to the 2015-16 crop.
