We can do better than this.
Textile exports to United States and Europe have registered a growth of 26 and 20 % respectively during the current year and the sector has Rs. 18,000 crore investment through various schemes of United Progressive Alliance Government said Mr. Shankarsinh...more - by Textile Intelligence.
Monday, 20th February 2006.
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Textile exports to United States and Europe have registered a growth of 26 and 20 % respectively during the current year and the sector has Rs. 18,000 crore investment through various schemes of United Progressive Alliance Government said Mr. Shankarsinh Waghela on 16 February. Mr Waghela was speaking after inaugurating a day-long symposium on textile apparel and garment called ‘Entry Strategies in Global Markets’, which was organised by Federation of Indian Chambers of Commerce and Industries (FICCI) in Mumbai. The symposium would have served a better purpose in 2005 at the time of the withdrawal of quota regime he added.
He further said the State Bank of India's willingness to co-host the event indicated that textile was once again becoming a "Sunrise Industry" and not the "Sunset industry".
About the stiff competition from China, Mr. Waghela expressed hope that Indian textile industry would surely find a solution to today's problems. He also suggested adoption of corporate farming for the cotton growing areas of Maharashtra and Andhra Pradesh, where the quality of cotton is too low. Instead of wasting Rs 2,000 crore or more on cotton growers in subsidies, the same amount if invested with prudent policies will bring about good returns on the capital he said. Mr. Satish Chaturvedi State Textiles Minister, in his speech, said that high bank interest rates and power tariff were inhibiting factors for the textile sector. The Maharashtra Government has set up a task force to probe the various opportunities available to the sector as suggested by the Union Government, he added.
Vitnam's textile export goel up to
US $ 10 billion by 2010.
In an ad hoc meeting organized by the Ministry of Industry, to discuss the garment sector’s next five-year development plan, Viet Nam’s textile sector last week disclosed that by 2010 their target in export is to increase the previous objective from US $2 bln to US$10 billion of products annually. The revision comes shortly after the nation was ranked 16th among 153 garment exporting countries late last year. Ministry officials at the meeting sought ideas for the new draft before it is submitted to the Prime Minister next month for approval.
The new target is almost double last year’s US $5.5 billion textile export value- would require industry-wide efforts to overcome persistent obstacles, including design capability and material supply, according to an industry insider. Deputy Minister of Industry Mr. Bui Xuan Khu said that higher export growth rates of up to 15 % a year- could be achieved if the sector focused on developing infrastructure, training skilled workers, building product design centers and calling for more foreign investment. Mr. Le Quoc An, chairman of the country’s leading State-run garment producer Viet Nam Textile and Garment Group (Vinatex) proposed the sector follow a nine-pronged development plan. Two of the top priorities, he said, would be establishing dedicated raw material centers and expanding retail outlets.
Mr. Diep Thanh Kiet, deputy chairman of the HCM City Textile, Apparel and Embroidery Association said the Government should improve Viet Nam’s investment environment to help the sector attract more foreign partners. He predicted that Viet Nam would become a World Trade Organisation member this year, meaning textile exporters would be free of production quotas in 2007. Mr. An added that comprehensive restructuring of all businesses in the sector would contribute to industry-wide growth, as evidenced by the success of his company’s own corporate restructuring efforts. With export turnover growth reaching 13 per cent last year, Vinatex ranked among the largest garment producers in the world, he said. He added that Viet Nam should also focus on promoting its trademarks. Vinatex Deputy General Director Mr. Vu Duc Giang added the group posted revenue of VND18.3 tln ($1.15 billion) last year, up 11 % from 2004. This year, the group hopes to post revenue growth of 16 %and 10 % higher profits, he added. The country’s second most important export after crude oil, textile sales hit $370 million last month alone, according to the General Statistics Office.
JOB OPENINGS FOR TEXTILE GRADUATES IN USA.
USA: Textile companies find no takers for job openings.
28 Oct, 2007 - USA.
Textile manufacturers in the Charlotte region are finding it difficult to fill job openings. That's because plant closings, overseas outsourcing and layoffs have jaded workers. Many skilled workers have left the industry for good, to retire, cash in on unemployment benefits or take advantage of retraining offers. Many high school students are seeking careers in anything but textile manufacturing.
Mel Collins, vice president of human resources for Pharr Yarns in McAdenville is trying to convince the well-trained, experienced former workers as well as the younger generation that there is a viable future in textile manufacturing.
Plant managers and educators are creating materials to promote modern, high-tech manufacturing for high school guidance counselors to use in coaching students.
High school students and their parents have to be convinced that there still is a vibrant manufacturing community, jobs with good survivability and companies that are making an investment in their future," Collins says.
The group also is considering launching apprenticeship programs at local manufacturing plants. And many textile companies are upgrading their facilities. Pharr Yarns built a $30 million plant in McAdenville, adding 75 jobs. Tuscarora Yarns Inc. invested $10 million to update its Oakboro facility. It's spending almost $10 million more there and at its plants in Mount Pleasant and China Grove.
And those investments can lead to more jobs. Though no detailed figures are available, the N.C. Employment Security Commission this week listed 48 textile-related job openings within a 50-mile radius of Charlotte. Pharr Yarns' Collins says he has about 15 openings.
But decades of a shrinking textile job base have scared off potential workers. From 1990 to 2005, textile-mill employment plunged to 4,500 from 17,398 in Gaston County alone, according to state data.
India - RIL eyes Arvind Mills manufacturing facilities.
28 Oct, 2007 - India.
The Mukesh Ambani-controlled Reliance Industries is learnt to be in talks to acquire some manufacturing facilities from Arvind Mills, mainly in the denim segment. A person familiar with the development said the proposed acquisition is part of RIL�s increased focus on the apparel business.
When contacted, Arvind Mills CFO Jayesh Shah said: �It is untrue.� RIL spokesperson Paresh Chaudhry said: �The information that Reliance Industries plans to acquire textile mills in various parts of the country as a sourcing base for Vimal Suiting as well as Reliance Retail�s apparel business is absolutely untrue. Nor are we in talks with any textile mill in India for any acquisition whatsoever.�
But the source confirmed that initial talks between the two companies is already on, and added that the deal is stuck on pricing issues. Reliance Industries is likely to float a special purpose vehicle for executing the deal, the person told ET.
Sources said RIL plans to acquire textile mills in various parts of the country to strengthen its presence in the apparel business. These mills will act as a sourcing base for Reliance�s apparel brand Vimal Suitings as well as Reliance Retail�s private labels.
In December last year, the company relaunched Vimal Suitings, which used to be one of the top textile brands in the 1980s. Recently, the company launched its apparel retail chain, Reliance Trends, for which it has created several private labels. These include Network (formal office wear) Netplay (smart casual range) and DNMX denims and T shirts. In addition, the company has come up with exclusive private labels for women (Sparsh) infants and toddlers (Panda) and young boys and girls (Trendz).
Apart from this, group company Reliance Textiles also has a presence in the export market. It is one of the largest exporters of worsted fabrics from India and supplies to brands like Dockers, Nautica, Perry Ellis, Hagger, JC Penny and Marks and Spencer. The company has announced plans to expand its fabric export business and foray into garment exports. For all these, the company needs to increase its manufacturing base.
Arvind Mills, one of the leading textile manufacturers in the country, has 22 units for fabrics and garments. In the fabrics division, the company has presence in denims, shirting, khakhis, knitwear and voiles. It also owns and retails brands such as Flying Machine, Newport and Ruf and Tuf in the jeans category and Excalibur shirts. Arvind Mills also owns licences from international brands such as Arrow, Lee, Wrangler and Tommy Hilfiger for retailing their products in the Indian market.
Source � The Economic Times
USA TECHNICAL TEAM GOES TO KUWAIT.THEY ARE MISSING INDIA.
US technical textiles trade team in Kuwait.
25 Oct, 2007 - Algeria.
The Middle East's booming oil and construction sectors trigger the interest of many American companies to invest in the region, according to the head of an American business delegation to Kuwait. "We chose Kuwait because there is so much growth potential in this area of the world," Joey Underwood, Senior Vice-president of Safety Components, a member company of the USIFI and head of the trade delegation, told reporters yesterday after a meeting at the Kuwait Chamber of Commerce and Industry.
Being in the technical textiles business, a lot of our products go into so many different applications for economic growth from roadway systems to water and oil containment systems and a lot of other industrial applications," he added.
Certainly with oil production in this area, the need for (protective) clothing is important. So we thought a mission is the best way to introduce our associations to this part of the world." Officials from four member-companies of the United States Industrial Fabrics Institute (USIFI) Trade Mission, representing a variety of American technical textiles companies visited the Kuwait Chamber of Commerce and Industry (KCCI) yesterday. The mission met with Saud Al-Zaid, Assistant Director General of KCCI.
Technical textiles include anything that is non-apparel and non-home furnishing, said Underwood. This includes geomembranes for road building, water and fuel containment systems, automotive component parts such as airbags, headliners and seating, fire-resistant products for military, aerospace and fireworks wear, fabrics for the production of automobile tires, commercial and residential awnings, marine composites and covers, outdoor upholstery, clean room textiles, military uniforms, and single ply roofing products for commercial buildings, shelters for military, hospitals, warehousing, auto ports, and potable water bladders.
Explaining the importance of technical textiles in emerging economies, Underwood said that most people when talking of textiles, think about apparel and home furnishings. "But what most people don't realize is the value that textiles play in emerging economies, the role it plays in construction, in environmental protection, in safety," he said. "There is great growth potential as witnessed already on our trip...You can see it here in Kuwait City, with the (rising) buildings and the roadwork. We were in Jordan earlier and you can see it there with the new construction that's going on," he added. "The economy of Kuwait is very vibrant and we believe that trade is the conduit for bridging our two economies and our two nations.
Technical textiles is one of the fastest-growing areas of the global textile and apparel industry. World trade in technical textiles is over $50 billion, according to 2006 figures. "It's really one of the remaining textile businesses in the US. More garment and apparel manufacturers that have moved to the Far East, but the technical textile business is still remaining in North America because it's so demanding and exacting and the requirements are so difficult," said Underwood.
Arriving Kuwait on Monday, the business delegation had the chance to meet with many interested Kuwaiti business companies. "We had meetings that we were set up with through the American Embassy (Tuesday) with many companies in different sectors," said Underwood. Explaining what the mission is looking for in Kuwait, Underwood said, "Each company has its own specific objectives. I think for the most part we are looking to export to this part of the world currently with the hope that this might evolve into a joint-venture and setting up manufacturing (units) in this area of the world. But we kind of do things in steps.
USIFI is a trade association within the Industrial Fabrics Association International. We are a 45 member organization that comprises the best of industrial fabric capability within the United States. We are a supply chain group - meaning that our members are the total supply chain of industrial products, from the first step which is yarn production to fabric production to coating and laminating capability to the actual fabrication of the end use item," explained Underwood. "We are all dedicated to the development and production of technical textiles which are the essential building blocks for any emerging or advanced economy," he added.
The trade mission is set to visit Oman and the United Arab Emirates (UAE) after Kuwait. The delegation representatives who participated in the trip were Joe Fields, Business Development Manager at Outdoor Ventures, Raymond Peebles, Worldwide Sales Geomembranes for Cooley Inc., Nadeem Ghani, Global Business Market Specialists for Milliken and Company. The delegation was also accompanied by Mary Lynn Landgraf, from the US Department of Commerce, Washington.
THIS NEWS MIGHT PROMPT TEXTILE EXPORTERS TO GET MORE GOODS EXPORTED.
Exports likely to grow at CAGR of 12%.
MUMBAI: Despite being battered by the rupee climb, Indian textiles and apparel industry continue to be a promising bet.
Textiles and apparel exports are expected to rise at a compound annual growth rate of 12% as international retailers are increasingly looking at India as the best alternative to China for apparel sourcing, according to the CII-Ernst & Young Textile & Apparel Report, 2007. Also, fuelled by rise in disposable incomes and consumers shift towards the branded apparel, the domestic textile and apparel market would grow at CAGR of 6.5%, the report said.
Ranjan Biswas, partner & national leader, retail & consumer practice, Ernst & Young India, said, “Globally, there are clear indications that textiles and apparel production is consolidating with production shifting towards Asian countries and exciting time for the sector.”
Textiles and apparel is a $49 billion industry in India, of which the domestic market’s share is 61% while 39% of the products are exported. Segmented by product category, textiles account for the dominant 59% share and apparel making up the remainder.
Most Indian textile companies are expanding capacities across the value chain in areas of design, yarn, fabric, garments and retail forays.
The CII-E&Y report identifies ‘sourcing’ as a huge opportunity and expects sourcing market size in 2008 to touch $22-25 billion, and rise to $35-37 billion in 2011.
India has several advantages in terms of abundant supply of cotton and man-made fiber, mature and well established production base, cheap and skilled labour and good design capabilities.
Besides this, government incentives to exporters and entry of foreign retailers into the Indian market would also act as a fillip to retail sourcing from India, the report said.
The textile ministry has recently moved a Cabinet note for limited amendment to the Industrial Disputes Act (IDA) for letting textile export units conditionally hire workers on a temporary basis.
The ministry proposes increasing the working hours from 48 to 60 per week and daily working hours from 9 to 12.
Mr.Mukesh Ambani Richer than Mr.Bill Gates.
NEW DELHI: Billionaire Mukesh Ambani on Monday became the richest person in the world, surpassing American software czar Bill Gates, Mexican business tycoon Carlos Slim Helu and famous investment guru Warren Buffett, courtesy the bull run in the stock market.
Following a strong share price rally on in his three group company, India's most valued firm Reliance Industries, Reliance Petroleum and Reliance Industrial Infrastructure Ltd, the net worth of Mukesh Ambani rose to $63.2 billion (Rs 2,49,108 crore).
In comparison, the net worth of both Gates and Slim is estimated to be slightly lower at around $62.29 billion each, with Slim leading among the two by a narrow margin.
Warren Buffett, earlier the third richest in the world, also dropped one position with a net worth of about $56 billion.
Ambani's wealth of about Rs 2,49,000 crore includes about Rs 2,10,000 crore from RIL (50.98 per cent stake), Rs 37,500 crore from RPL (37.5 per cent) and Rs 2,100 crore from RIIL (46.23 per cent).
Slim's wealth has been calculated on the basis of his stake in companies like America Movil (30 per cent), Carso Global (82 per cent), Grupo Carso (75 per cent), Inbursa (67 per cent), IDEAL (30 per cent) and Saks Inc (10 per cent).
According to information available with the US and Mexican stock exchanges where these companies are listed, Slim currently holds shares worth a total of $62.2993 billion, with more than half coming from Latin American mobile major America Movil. Slim is closely followed by Gates with a net worth of $62.29 billion currently.
Earlier last month, US business magazine Forbes had named Gates as the richest American with a net worth of $59 billion, calculated as on August 30. The magazine had said that a movement of two dollars in the share price for Microsoft, the world's biggest software maker, could 'add or
subtract a billion dollars' from his wealth.
Since August-end, Microsoft's share price has risen by $6.58 (based on Sunday's closing on Nasdaq at $35.03), which results into a gain of $3.29 billion in Gates' wealth based on Forbes assumption.
Besides a stake in Microsoft, Gates' wealth also includes the commission and license fees earned by him and gains through his shares in an investment holding company that invests across the market.
Gates is followed by Buffett at the fourth place in the league of the world's richest with a net worth of $55.9 billion through his holding in his investment vehicle Berkshire Hathaway and in other companies. At the end of August, Buffett's wealth stood at $52 billion, as per the Forbes magazine. Berkshire Hathaway's share price has gained by about 7.5 per cent since then.
Earlier on September 26, Ambani had overtaken steel czar Lakshmi Mittal to become the richest Indian in the world.
Mittal currently ranks as the fifth richest in the world with a net worth of 50.9 billion dollars through his 44.79 per cent stake in world's biggest steel maker ArcelorMittal.
p>While most of Mittal's wealth comes from his steel empire, though he has also spread his wings into businesses like oil and real estate, those of Ambani and Gates are mostly through petrochemicals and software respectively. However, Buffett and Slim are making money from investments across a host of sectors.
Among the companies where Slim holds shares, Grupo Carso controls a diversified group of companies in Mexico including those in retail, industrial and consumer business.
Carso Global Telecom is a Mexico-based holding company and has investments in domestic and foreign telecom, radio network and a satellite TV projects.
America Movil is a leading wireless communications service provider in Latin America, Saks Inc is into the retail business and Grupo Financiero Inbursa is a Mexico-based financial services company with interests in investment funds, mortgages and commercial banking. Impulsora del Desarrollo yel Empleo en America Latina SA, also known as IDEAL, is into
infrastructure development.
These are the five richest people in the world with their net worth.
1. Mukesh Ambani ($63.2 billion)
2. Carlos Slim Helu ($62.2993 billion)
3. William (Bill) Gates ($62.29 billion)
4. Warren Buffett ($55.9 billion)
5. Lakshmi Mittal ($50.9 billion).
SOURCE
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