CITI-NEWS LETTER€¦ · 8 CITI-NEWS LETTER Slogans and populism cannot guide economic...
Transcript of CITI-NEWS LETTER€¦ · 8 CITI-NEWS LETTER Slogans and populism cannot guide economic...
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17th November
2018
Vibrant Gujarat 2019: First roadshow begins in Delhi today; CM
Vijay Rupani meets corporate honchos, diplomats
India’s Textile and Apparel Exports & IIP Registers Staggering
Growth in the Month of October- CITI
Government to soon unveil new industrial policy: DIPP Secretary
Indonesia launches new economic stimulus measures
Cotton and Yarn Futures
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2 CITI-NEWS LETTER
-------------------------------------------------------------------------------------- India’s Textile and Apparel Exports & IIP Registers Staggering Growth in the
Month of October- CITI
Vibrant Gujarat 2019: First roadshow begins in Delhi today; CM Vijay Rupani
meets corporate honchos, diplomats
Textile & apparel exports soar 38% in October: CITI
Government to soon unveil new industrial policy: DIPP Secretary
Arun Jaitley calls for quality debates on economic policies
Smriti Irani bats for rise in women entrepreneurs
Contract limit for jobless engineers raised in Maharashtra
NALSAR together with 300 weavers to write a new law to protect Handlooms
Minor reshuffle in Bengal ministry
SMEs floundering even as Gujarat prepares for global investor summit
9th Session of India-Kyrgyz IGC held in New Delhi, concludes with signing of
Protocol
Arunachal skill dev centre gets Central Silk Board recognition
Minister Giriraj Singh inaugurates MSME Pavilion at India International Trade
Fair
------------------------------------------------------------------------------------------------- US, China rivalry to dominate APEC summit
Indonesia launches new economic stimulus measures
Supply chain shift to Asean countries is accelerating
El Salvador invites Indian IT, energy companies
NCTO Testifies At U.S. International Trade Committee Hearing On U.S.-Mexico-
Canada Agreement (USMCA)
------------------------------------------------------------------------------------------------
NATIONAL
----------------------
GLOBAL
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3 CITI-NEWS LETTER
NATIONAL:
Press Release
India’s Textile and Apparel Exports & IIP Registers Staggering Growth in
the Month of October- CITI
Friday, November 16, 2018, New Delhi: Ministry of Commerce & Industry,
DGCI&S, released the Quick Estimates for the month October 2018. Shri Sanjay K Jain,
Chairman, CITI stated that the exports of textile and apparel stood at Rs.20,353 crore
during October 2018 as compared to Rs.14,779 crore during October 2017, showing an
impressive growth of 38%. It is noteworthy that over the same period apparel exports
have grown at a whopping rate of 54%.
CITI Analysis of Exports of T&A for October 2018
Values in INR crores
Particulars Oct-17 Oct-18 %
Change
Cotton Yarn/Fabs./made-ups, Handloom
Products etc. 5,376 6,704 25%
Man-made Yarn/Fabs./made-ups etc. 2,312 3,037 31%
Jute Mfg. including Floor Covering 151 192 28%
Carpet 668 1,013 52%
Handicrafts excl. handmade carpet 870 1,078 24%
Textiles 9,377 12,025 28%
Apparel 5,402 8,327 54%
Textile and Apparel 14,779 20,353 38%
All Commodities 1,48,963 1,98,635 33%
Data Source: DGCI&S
Chairman observed that the positive trend in exports for the entire textile value chain has
been the result of CITI’s continuous persuasion with the Government and pragmatic
approach shown by the Hon’ble Union Minister of Finance, Hon’ble Union Minister of
Commerce & Industry and Hon’ble Union Minister of Textiles, on the issues of T&C
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4 CITI-NEWS LETTER
Industry especially post GST implementation. Chairman expressed his deep gratitude to
Hon’ble Ministers for their timely policy support and intervention to boost the industry
which was under severe stress especially after the implementation of GST.
Mr. Jain is delighted to see the positive IIP data also. It is pertinent to mention here that
the IIP production data for T&C also witnessed robust year on year growth during
September 2018 as compared September 2017. Textiles and Apparel has registered a
growth of 5.4% and 20.9%, respectively during September 2018.
Quick Estimates of IIP for Textile and Clothing Sector (T&C): September
2018
Description Weights Index
Sep'17 Sep'18 % Change
Manufacture of textiles 3.29 115.2 121.4 5.4
Manufacture of wearing apparel 1.32 118.8 143.6 20.9
Source: Ministry of Statistics Planning & Implementation
Chairman asserted that the growing positive trend shows visible signs of recovery after a
difficult period. Industry is hopeful that Government would take suggested measures to
boost exports and limit imports. Gauging the current scenario, Mr. Jain is confident that
in the coming months, with Government support, the industry would be in a much more
comfortable position. Continuous growth in exports and IIP index would result in
boosting employment, scaling up production and most importantly making “Make in
India” initiative a reality for T&C Industry.
Home Vibrant Gujarat 2019: First roadshow begins in Delhi today; CM Vijay
Rupani meets corporate honchos, diplomats
(Source: Financial Express, November 16, 2018)
As a part of the series of events leading to the 9th
Vibrant Gujarat Global Summit 2019 to be organised
early next year, the Gujarat government held the first
roadshow in Delhi on Friday. Earlier today, the state
Chief Minister Vijay Rupani met foreign envoys and
corporate honchos in the morning as part of the
curtain-raiser to the Vibrant Gujarat Global Investors
Summit-2019.
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5 CITI-NEWS LETTER
He held a one-to-one meeting with the Dutch Ambassador to India Marten van den Berg
in which the latter expressed desire to strengthen cooperation in port-led development in
the state. Rupani also met Chairman of Airports Authority of India Guruprasad
Mahapatra who promised support for developing new airports including one at Rajpipla
near Statue of Unity and second a Dholera international Airport as an extension of
Ahmedabad Airport.
The state government also signed MoU with two textile and apparel associations namely,
Apparel Export Promotion Council (AEPC) and Confederation of Indian
Textile Industry (CITI).
“I am happy to say that vibrant Gujarat is being held at a time when India is the fastest
growing major economy in the world and Gujarat is the fastest growing state in the
country,” MK Das, IAS (PS-GoG) said.
The roadshow in Delhi will be followed by similar events in Mumbai, Pune, Hyderabad,
Bangalore and Kolkata. Already, 24 such events have been held in different nations of the
world. The Summit will be held from January 18-20 next year.
Vibrant Gujarat Summit
Vibrant Gujarat Summit was conceptualised by present Prime Minister Narendra Modiin
2003, the then Chief Minister of Gujarat, with an aim establish the state as a preferred
investment destination within India.
“..the Summit has evolved into a platform for brainstorming on agendas of global socio-
economic development, in addition to being a facilitator for knowledge sharing and
forging effective partnerships,” Vibrant Gujarat website says.
Home
Textile & apparel exports soar 38% in October: CITI
(Source: Financial Express, November 15, 2018)
It is interesting to note that during the month, the apparel exports have grown at a
whopping 54%, said Confederation of Indian Textile Industry (CITI) on Friday.
The exports of textile and apparel for October grew 38% to Rs 20,353 crore as against Rs
14,779 crore reported in the same month of 2017. It is interesting to note that during the
month, the apparel exports have grown at a whopping 54%, said Confederation of
Indian Textile Industry (CITI) on Friday.
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6 CITI-NEWS LETTER
Quoting the union ministry of commerce & industry, Sanjay K Jain, chairman, CITI, said
the positive trend in exports for the entire textile value chain has been the result of CITI’s
continuous persuasion with the government and pragmatic approach shown by the union
minister of finance, union minister of commerce & industry and union minister of textiles
on T&C industry issues especially post GST implementation.
The concerned ministries have also came forward with timely policy support and
intervention to boost the industry which was under major stress, especially after the
implementation of GST, he added.
According to the data, CITI said that the exports of cotton yarn/fabs/made-ups and
handloom products during the period grew 25% to Rs 6,704 crore as compared to Rs
5,376 crore in October 2017.
The export of man-made fabs/yarn and made-ups during the month grew 31% to Rs
3,037 crore as compared to Rs 2,312 crore in October 2017.
Similarly, carpet and handicrafts export grew 52% and 24%, respectively to Rs 1,013
crore (Rs 668 crore) and Rs 1,078 crore (Rs 870 crore), respectively during the month,
Jain said quoting the data.
While the whole of textiles saw 28% growth to R12,025 crore as compared to Rs 9,377
crore in October 2017, that of apparel exports stood higher at Rs 8,327 crore (Rs 5,402
crore), reporting a growth of 54%.
According to Jain, the confederation is delighted to see the positive IIP data.
“It is pertinent to mention here that the IIP production data for T&C also witnessed
robust year on year growth during September 2018 as compared September 2017,” he
said. Textiles and apparel industry saw a growth of 5.4% and 20.9%, respectively during
September 2018.
He further said that the growing positive trend shows visible signs of recovery after a
difficult period.
Industry is hopeful that government would take suggested measures to boost exports
and limit imports.
“Gauging the current scenario, CITI is confident that in the coming months, with the
government support, the industry would be in a much more comfortable position.
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7 CITI-NEWS LETTER
Continuous growth in exports and IIP index would result in boosting employment,
scaling up production and most importantly making ‘Make in India’ initiative a reality
for T&C industry,” he added.
Home
Government to soon unveil new industrial policy: DIPP Secretary
(Source: PTI, Economic Times, November 16, 2018)
The government will soon unveil a new industrial policy which may include a dedicated
chapter on the importance of design, a top official said Friday. Highlighting the
significance of design and innovation in India's economic progress, Secretary of the
Department of Industrial Policy and Promotion (DIPP) Ramesh Abhishek also extended
his "full support" to the setting up of a National Design Centre as early as possible.
"We are also bringing out a new industrial policy soon and we are proposing to include a
substantial chapter and paragraphs on the importance of design, and how it should be
taken forward," he said at a CII event here.
DIPP, in August last year, floated a draft industrial policy with the aim to create jobs for
the next two decades, promote foreign technology transfer and attract USD 100 billion
foreign direct investment (FDI) annually.
The proposed policy will completely revamp the Industrial Policy of 1991.
Among other things, the policy would endeavour to reduce regulations and bring new
industries in focus.
The DIPP Secretary also said that enforcement of intellectual property rights was being
improved through better training of police officers and judiciary.
"In principle the department (DIPP) would like to fully support the setting up of a
National Design Centre. We can see how it can be done, it can be done through the
mechanism of the India Design Council," Abhishek said
Home Arun Jaitley calls for quality debates on economic policies
(Source: Financial Express, November 16, 2018)
Slogans and populism cannot guide economic policymaking, finance minister Arun Jaitley
said Friday, underlining the need for policy debates based on hard facts and data
crunching.
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8 CITI-NEWS LETTER
Slogans and populism cannot guide economic policymaking, finance minister Arun
Jaitley said Friday, underlining the need for policy debates based on hard facts and data
crunching. “Debate and policy in economic areas can’t be guided by just slogans or
populism, it has to be based on hard facts (and) analysis which are supported by data
analysis itself,” the minister said.
Jaitley was addressing a wealth awards conference organised by the news portal
Moneycontrol through a vide link. The remarks come two days ahead of the crucial central
board meeting of the RBI, amid a public spat between central bank and government on
certain policies. While government and its nominees on the board want RBI to pay heed
to the troubles of small businesses to create additional financing for them, liberalise the
prompt corrective action (PCA) framework for public sector lenders and give a breather
to the troubled non-bank lenders, the conservative central bank seems to be opposed to
the proposals.
Admitting that the country has suffered due to poor quality of debates, Jaitley said “it has
to be a national endeavour to improve the quality of debates, particularly in economic
areas.” He also said wealth creation is a “challenge” in these times as also in the future.
He regretted that there was a time when we were focused only on slogans and pitched for
the alternative of increasing productivity instead.
The focus on increasing productivity can lead to “equity and a more prosperous
environment”. “The future is not going to be redistribution of poverty, but distribution of
wealth, which, of course, is determined by who is able to generate wealth itself,” he said.
Home
Smriti Irani bats for rise in women entrepreneurs
(Source: Business Standard, November 17, 2018)
Union Minister Smriti Irani has pitched for the need to further empower and encourage
women to come forward and work as entrepreneurs, adding that the total number of
women entrepreneurs in the country is still less.
Attending a women awareness programme organised by FICCI here, Irani said, "As per
the sixth economic census, the total number of women entrepreneurs was pegged at 13
per cent, of which only five per cent of women were engaged in non-farm enterprises with
the remaining working in the agricultural sector."
The Union Textiles Minister observed that there was a time when a nation's success was
measured in terms of Gross Domestic Product (GDP). However, when a woman is
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9 CITI-NEWS LETTER
empowered financially, measurement of success of the society go up in terms of human
development index (HDI), she added.
"When you empower a woman financially you actually, in terms of measurement of
success of your society, go up in the human development index. Why is this important
today? There was a time when we were measuring the success of a nation on basis of only
the GDP."
She continued, "Today, we measure the success of a nation on the basis of the human
development index. If that is the measure of a nation's success, then it is imperative that
we invest in women as entrepreneurs, invest in women as leaders."
Irani noted that difficulty in not understanding English was becoming a hurdle in the
growth of rural entrepreneurs, and urged the removal of such barriers "As they do not
speak and understand English, it becomes a hurdle in their growth. The women of the
country have to face defeat when it comes to language. They have talent. For their success,
we have to remove their language barrier and make them more comfortable," she added.
Citing an example of the Indian entertainment industry, Irani, who is also a former TV
actress, said that women should engage in more technical roles beyond just acting on
screen.
"One would notice there is a shortage of women in the technical aspects of films such as
editing, cinematography, animation etc. The need is to position our girls to groom for
such technical roles as well beyond acting and creative direction," she said.
Home Contract limit for jobless engineers raised in Maharashtra
(Source: The Hindu, November 17, 2018)
State also announces interest on loan subsidy for struggling power looms
With an eye on next year’s elections, the Maharashtra government has announced fresh
sops and financial assistance for jobless engineers and defunct power looms across the
State. The government on Friday increased contract limits for jobless engineers from the
existing ₹75 lakh to ₹1.50 crore, increasing empanelment limits to 20 years from the
existing 10 and five in various categories, officials confirmed.
“Some departments have been individually giving works worth up to ₹75 lakh to
unemployed engineers. This has been extended to all departments, with an increased
limit of ₹1.5 crore in several categories. For these departments, too, we have set up an
empanelment limit of five and ten years which has now been increased to 20 years,” said
Sachin Chivate, under secretary, Maharashtra Government.
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10 CITI-NEWS LETTER
Earlier this year, at a convocation ceremony at IIT- Bombay, Prime Minister Narendra
Modi had urged engineering institutions to focus more on quality rather than quantity of
students for research in cutting-edge science and technology, with focus on national
priorities. Mr. Modi had said the country is producing over seven lakh engineers every
year but not all of them are graduating with the right set of skills.
For the small scale industries and cooperatives working in the textile sector, the State has
announced an interest on loan subsidy for struggling power looms. The scheme was
formally announced by Chief Minister Devendra Fadnavis and Union Minister Smriti
Irani while inaugurating the PowerTex India Schemes in 43 cities earlier this year. “We
have opened a new budget head for providing funds for the scheme this year,” said a
textile department official.
Home NALSAR together with 300 weavers to write a new law to protect
Handlooms
(Source: APN News, November 16, 2018)
First in the world Handloom Weavers of Telugu states shared the same platform with
academia at Global Meet on “Rethinking Indian Industrialisation of Crafts” her at Chirala
in Andhra Pradesh
According to a press note issued in Hyderabad by Ravi Kumar Reddy of REEDS, a
Hyderabad based NGO which is organizing the global meet, it was also the first time in
the world that 300 weavers from both Telugu states and more so from Chirala got together
to discuss their problems, share their achievements, uniqueness and also network, self
help through mutual cooperation and learn.
A khadi products exhibition was organized by Registry of Saree, who have shown various
Khadi products of the last 200years. The Registry of Sarees(TRS) is an innovative idea of
two saree loves to share knowledge on the sarees. TRS carries on knowledge sharing
hrough seminars and experiential textile trails to facilitate knowledge-sharing among
sareelovers. Sarees will be discussed with respect to trade, culture, art and fashion
revival. The Registry of Sarees celebrates the many weaves of India.
A Global Meet “Knowledge in Handloom Weaving in India” featuring many eminent
speakers and experts from Oxford University, NALSAR, Columbia University, IIT Delhi,
Netherlands, Germany and Italy is underway there for the past six days.
Weavers from Thailand, Thaiwan, China and Lavos shared their weaving technologies
and how their industry is sustainable.
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11 CITI-NEWS LETTER
A group professionals from NALSAR(National Academy of Legal Studies and Research),
a Hyderabad based reputed legal studies institute addressed weavers on Intellectual
Property, Design and involved 300 weavers And offered to write a new law to protect
Handlooms designed by the weavers disclosed the organizers.
The conference is also featured special exhibition by Mayank and his team from Delhi
who brought 24 types of exclusive and exquisite fabrics from across India
Weavers from Kutch explained about their specialized embroidery skills. Weavers fronm
Tripura, Manipur, Nagaland and Sikkim shared their weaving techniques. Couple of
Weavers from Jammu Kashmir gave insights into Carpet Weaving. Weavers who are
sheep herders gave live demonstration of their weaving technology and also discussed
how changing technologies are changing their lives as well.
The participants, experts, academia, weavers by the end of the event will produce a paper
on how innovations are sweeping Handloom industry in India for common knowledge.
It is organsied by Hyderabad based, NGO, REEDS–Rural Economic and Educational
Development Society. It is a Not-for-Profit organization involved in formulating and
implementing programs relating to various spheres of rural life. REEDS is a registered
Society under the Societies Registration Act XXI of 1860.
The theme of the meet is “Rethinking Indian Industrialisation of Crafts”. It is organised
in collaboration with Mr Mohan Rao of National Federation of Handlooms and
Handicrafts, Prof Bijker of Maastricht University and Ineke Sluiter of Universiteit Leiden
The handlooms provide livelihoods for 4.3 million families, making it the 2nd largest
employer sector after Agriculture.
The meet will provide a roadmap to transform the future of handloom weavers through
innovations and network building.
The industry has the potential to create over one million jobs with the lowest per capita
investment for creation of such jobs, through building on existing skills and social capital.
The handloom industry employs thousands of people across the state. However, due to
certain perceptions regarding handloom cloth, and the necessity of competing with power
loom imitations, growth in the sector is severely hindered.
For example, power loom designers can easily copy popular handloom designs and
produce them in a cheaper fashion, as designs are not protected by copyright, eating into
the demand for handloom cloth.
In order to improve the situation of handloom weavers, it is crucial to improve market
and production infrastructure, capacitate weavers and designers to innovate deep craft
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12 CITI-NEWS LETTER
skills, and provide access to credit and financial support. Designs have to be protected
under the intellectual property regime. The system of production can be re-engineered
such that the creativity of the weaver can co-exist with the demands of production to the
designers taste. Handloom currently services many growing market niches; luxury,
ethnic, semi-urban markets for sarees as well as green markets for sustainable goods. The
meet is organised against this backdrop.
Many Scholars, artisans and other professionals involved in the textile industry are
participating in order to better understand and promote futures and livelihoods in
handloom weaving informed Ravi.
The organisers have lined up an impressive line of speakers who include: Uzramma of
Malkha, Jaya Jaitly; Jagada Rajagopalan, Consultant; Amita Dhanda, NALSAR; Anique
Hamelin, Classics and Ancient History, University of Amsterdam; Ashoke Chatterjee,
Prabhat Education Foundation, Ahmedabad; BuYun Chen, Professor, Swarthmore
College; Dorothy Ko, Professor of History and Women’s Studies, Barnard College,
Columbia University; Ellen Harlizius-Kluck, Research Institute for the History of
Technology and Science Deutches Museum, Munich; Rajeev Sethi, Asian Heritage
Foundation; Sampat Mukhopadhyay, IIT Delhi; Subir Kumar Saha, IIT Delhi; Ulinka
Rublack, Facujty of History, Cambridge University and others
The meet will go on till 19th November.
Home
Minor reshuffle in Bengal ministry
(Source: PTI, Business Standard, November 16, 2018)
West Bengal Finance Minister Amit Mitra has been entrusted with additional charge of e-
governance department, a notification issued by the state government said.
A minor reshuffle in the ministry took place late last night.
Mitra, who was looking after industry, commerce and enterprises, micro, small and
medium enterprises and textiles as well as information technology.
Asima Patra, backward classes welfare department along with departments of agriculture
and fisheries, was given additional charge of the department of programme monitoring
(independent charge), it said.
Chandrima Bhattacharya, minister of state departments of health and family welfare, land
and land reforms and refugee relief and rehabilitation and department of tribal
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13 CITI-NEWS LETTER
development, was given additional responsibilities of planning and statistics
(independent charges), the motification said.
Home
SMEs floundering even as Gujarat prepares for global investor summit
(Source: The Hindu Business Line, November 16, 2018)
Apex industry body fears mass shutdown of units and massive job losses in State
Even as Gujarat Chief Minister Vijay Rupani is set to conduct a roadshow in New Delhi
on Friday for the upcoming investment extravaganza Vibrant Gujarat Global Summit
(VGGS), industries in the State are reeling under cost escalations and improper policy
implementation.
Raising concern over the deteriorating business atmosphere in the State, the Gujarat
Chamber of Commerce and Industry (GCCI) has claimed that industrial production in the
State has fallen by about 40 per cent in the past 1.5 years and more units may shut down
amid the dismal economic scenario.
Uncertain economy
“This has come as a fallout of multiple factors, including uncertainty on the economic
front, improper implementation of GST and the demonetisation. We don’t want such a
situation to cloud the Vibrant Gujarat Summit. So we are raising the issue with the
government for remedial measures,” said Jaimin Vasa, President, GCCI.
The VGS is scheduled to take place in Gandhinagar in later part of January 2019.
A representation will be made to the State government with suggestions for resolving the
issues hurting the businesses — mainly the micro, small and medium enterprises
(MSMEs).
Shutdowns feared
Vasa said the industrial crisis worsened in the State over the past four to five years. Urgent
measures are required for MSME units, which are at the incipient sickness level. “There
is a need to make timely resolutions to avoid the closure of units,” Vasa added.
The overall economic slackness is visible in the elongated payment cycles by about 45-60
days. “All sectors, including textiles, plastics, engineering, chemicals and dyes, are facing
tough times. The domestic business is badly hurt, while due to escalation in overall costs,
they are losing competitiveness in the international market also. This way they are unable
to take advantage of a weak rupee in the exports,” he said, expressing concern large-scale
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14 CITI-NEWS LETTER
job losses in the State. The textile industry, which is the backbone of multiple sectors,
including yarn and dyes, is awaiting announcement of new textile policy in sync with the
GST.
Delay in funds disbursal
GCCI also expressed displeasure over the State’s indifferent approach to disbursal of
funds to MSMEs under various schemes since April 2017.
“There is inordinate delay even in the release of refunds under GST also. The red-tapism
continues despite GST being an online system. Sectors such as textiles are left with no
incentive under GST,” said Nayan Sheth, Chairman of the GST Committee of GCCI.
For the plastics industry in the State, environmental restrictions are posing a threat on
over 2,000 units, which may result in unemployment for about 50,000 workers, they said.
Home
9th Session of India-Kyrgyz IGC held in New Delhi, concludes with signing
of Protocol
(Source: PIB, Devdiscourse, November 16, 2018)
India and Kyrgyzstan have identified potential sectors where both sides may engage in
areas like healthcare and pharmaceutical, environmental and technical safety,
agriculture, information, tourism and culture, textiles and clothing.
The 9th Session of the India-Kyrgyz Inter-Governmental Commission on Trade,
Economic, Scientific and Technological Cooperation (IK-IGC) was held on 15-16
November 2018 in New Delhi and concluded today with the signing of Protocol. The IK-
IGC was co-chaired by The Union Minister for Commerce & Industry and Civil Aviation,
Suresh Prabhu, and Mr Kosmosbek Cholponbaev, Minister of Health, Government of the
Kyrgyz Republic.
India and Kyrgyzstan have identified potential sectors where both sides may engage in
areas like healthcare and pharmaceutical, environmental and technical safety,
agriculture, information, tourism and culture, textiles and clothing, banking, labour and
social development, mines and standards, metrology and certification sector.
Both sides agreed to hold business to business forums between Kyrgyz and Indian
companies as well as the exchange of business and commercial information and search
for partners.
Kyrgyz side proposed to consider the creation of joint food and food processing ventures
for agriculture and meat production for export to the Eurasian Economic Union (EAEU)
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15 CITI-NEWS LETTER
markets. It requested India to assist in incubation methods and breeding of freshwater
fish, fish disease prophylactic treatment, primary processing and storage of fish and fish
products, the creation of an electronic database for the pastures, monitoring, assessment
and conducting of remote sensing of mountainous pastures including geo-information
system.
The parties agreed to hold the tenth meeting of the Kyrgyz-Indian inter-governmental
Commission on Trade-Economic and Scientific-Technical Cooperation in Bishkek,
Kyrgyz Republic.
Home Arunachal skill dev centre gets Central Silk Board recognition
(Source: Prafulla Kaman, North East Now, November 17, 2018)
The central government agency, which controls quality of silk products, has allowed using
‘Silk Mark’ on 100 percent natural cloths produced by the skill development centre
The MG Community Skill Development & Training Centre at Oyan village in East Siang
district of Arunachal Pradesh has been recognized by the Silk Mark Organization of India
sponsored by Central Silk Board (CSB) run under Ministry of Textiles, Government of
India.
The central government agency, which controls quality of silk products, has allowed using
‘Silk Mark’ on 100 percent natural cloths produced by the skill development centre.
The training centre set up in July 2014 has been conducting skill development training
for creating self-employment avenues in rural areas. As such, it is implementing central-
sponsored projects for economic enhancement of the rural entrepreneurs through
handloom and handicraft activities.
The Skill Development & Training Centre is an initiative of Siang Tea Industries Ltd of
Arunachal, which is working for promotion of organic farming in the state.
The centre is competent to produce quality silk clothes and finishing products of the
handloom garments, which are exported to different places within the country and
abroad.
Launching the use of ‘silk mark’ on the 100 percent natural silk products, the skill
development centre on Friday conducted day-long exhibition cum sale at Oyan village
bordering to Jonai of Assam, wherein rural weavers and entrepreneurs from different
corners of Siang belt took part.
Thus, exhibition of silk cloths, organic tea and vegetables and fast food preparation using
locally available organic food staffs enthralled the visitors.
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16 CITI-NEWS LETTER
Among other dignitaries, renowned artist of Japan, Masami Yamada with his family,
former Union Minister and Siang Tea Industries Managing Director Omak Apang, plastic
engineer Tangir Perme and other graced the occasion.
Yamada, who is working for promotion of silk farming and development of silk industry
in Himalayan region, also launched a ‘signature campaign’ on the occasion.
Addressing the occasion, in-charge of MG Skill Development & Training Centre Aitoki
Doley said her team working to develop Siang valley as ‘Silk Zone’ in the coming days.
“We have accumulated the commercial silk growers and women Self Help Groups having
sericulture and weaving activities, who are imparting regular training and technical
feedback from Indian Institute of Entrepreneurship Indian Institute (IIE) on silk culture
and quality thread production”, Aitoki said while exuding her hope that silk industries in
the region would attract the customers and generate commercial value of silk products in
the years to come.
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Minister Giriraj Singh inaugurates MSME Pavilion at India International
Trade Fair
(Source: Durgesh, Clipper28, November 16, 2018)
The Theme Pavilion of the Fair is on Rural
Enterprises in India and it focuses on two
flagship programmes of the Ministry of
MSME: Cluster Development Programme
with special focus on fragrance & flavour
development and Solar Charkha Mission
Union Minister of State (I/C) for MSME,
Giriraj Singh, inaugurated the MSME
pavilion at the 38th India International
Trade Fair (IITF) in New Delhi today.
Speaking on the occasion the Minister said that quality manufacturing and inclusive
growth of village industries plays a key role in the development of the country.
The Ministry of MSME has set up its stall under the banner of MSME Expo 2018. Over 50
MSME entrepreneurs are showcasing their products at the stall. The theme of this
year’s Expo is “Rural enterprises in India”. The MSME Expo exhibits are on Solar Charkha
Scheme Products, Process Development Centres, Skill Development and Procurement
Marketing Assistance Schemes.
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The Theme Pavilion of the Fair is on Rural Enterprises in India and it focuses on two
flagship programmes of the Ministry of MSME: Cluster Development Programme with
special focus on fragrance & flavour development and Solar Charkha Mission. Other
schemes of the Ministry are also exhibited in the pavilion.
Women entrepreneurs, SC and ST entrepreneurs from North-Eastern States and
minorities are participating in the Fair.
A wide range of products which includes engineering goods, food, handicrafts, leather,
textiles and hosiery, electrical and electronic appliances, auto components, readymade
garments, gems & jewellery, cosmetics and herbal products are being displayed in the
MSME Expo, 2018. The Union Minister of State also inaugurated the Khadi Pavilion set
up by the Khadi and Village Industries Commission (KVIC).
During the inauguration, Additional Secretary & Development Commissioner MSME,
Ram Mohan Mishra, and Chairman KVIC, Vinai Kumar Saxena, were also present.
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GLOBAL:
US, China rivalry to dominate APEC summit
(Source: AFP, Economic Times, November 16, 2018)
Asian Pacific leaders fly into the unlikely venue of Port Moresby Saturday for a summit
developing into a tug-of-war for regional influence between an assertive China and an
increasingly withdrawn United States.
Donald Trump is skipping the two-day APEC meeting, sending Vice President Mike Pence
in his place, who is leaving after one day and staying in Australia rather than the dusty
and notoriously crime-ridden Papua New Guinea capital.
The contrast with China could hardly be more stark. President Xi Jinping arrived two days
before the summit for a state visit, and will open a road and school -- both funded by
Beijing.
Papua New Guinea has rolled out the red carpet for its visitor with Chinese flags fluttering
down the length of the new road and images of the Chinese leader beaming down from
massive billboards around Port Moresby
In an opinion piece published ahead of the visit, Xi vowed to "lend fresh impetus to our
common development" and "expand practical co-operation with Pacific Island countries
in trade and investment."
Ben Rhodes, former president Barack Obama's top foreign policy advisor, said Trump's
absence had "opened up an enormous opportunity for China to expand its influence."
Beijing has a "historic opportunity to make inroads across the region during Trump's
presidency," Rhodes told AFP.
Setting the scene for a potential clash in Port Moresby, a senior US official speaking ahead
of the summit accused Beijing in engaging in "dangerous debt diplomacy throughout the
region."
Several countries in the Asian Pacific region have accepted loans from Beijing for
infrastructure financing that are "not transparent," added this official, who declined to be
named.
The high-profile trade war between the world's two largest economies -- as well as tit-
fortat tariff measures -- will also serve as a backdrop to what could be a tense gathering.
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19 CITI-NEWS LETTER
Last-minute wrangling over WTO reform was understood to have delayed efforts to put
together a joint foreign ministers' statement, laying bare the divisions between the main
players.
"We are living in difficult times with rising trade tensions, rising protectionism and that
needless to say is reflected in the discussion we're having here in Port Moresby," Donald
Campbell, co-chairman of the Pacific Economic Co-operation Council think tank told AFP
It's going to be very difficult to get a ministerial statement for leaders that has consensus
in it as a result of that."
The official agenda for the talks resolves around greater economic integration for the
region and improving digital infrastructure.
But the hosting of the summit in Port Moresby, ranked as one of the world's least liveable
cities -- has gathered as much attention as the topics under discussion.
Violence and petty crime is rife -- including frequent carjackings by street gangs known
as "raskols" -- and delegates have been advised against travelling around the city,
especially after dark.
For safety and to avoid building new hotels that will later lie empty, officials and
journalists are staying on three gleaming white cruise ships moored in Port Moresby
harbour, with round-the-clock security.
Indeed, security throughout the city is tight, with Australia deploying 1,500 military
personnel including special forces, F/A-18 Super Hornet fighters patrolling the skies and
warships stationed a stone's throw away from the cruise ships.
And the run-up to the summit became embroiled in scandal when it emerged the Papua
New Guinea government had bought 40 Maseratis to ferry leaders around.
Prime Minister Peter O'Neill came under fire after splurging USD 6.4 million on the fleet
of luxury cars when half the population of Port Moresby live in squatter settlements.
O'Neill bristled when asked about this ahead of the summit, snapping at journalists: "Did
you ask the same question in Vietnam when they had the 400 plus Audis?"
I think it is just an overrated discussion. I'm not going to give it the credibility or credit it
deserves," he said.
"This is an opportunity for business leaders to see what Papua New Guinea's potential is."
But while ordinary residents may benefit from the shiny new Chinese-funding roads,
there was some doubt on the streets over how the average citizen would gain from the
APEC circus.
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20 CITI-NEWS LETTER
Will APEC make us rich like other nations?" asked Harriette Jack, 68. "Comparing to
other nations, we are not close."
Home
Indonesia launches new economic stimulus measures
(Source: Linda Yulisman, The Strait Times, November 16, 2018)
Indonesia announced on Friday (Nov 16) a new economic stimulus package to support
the rupiah and spur growth, in the lead-up to the presidential election in April 2019.
The country's ailing economy has emerged as a critical issue for President Joko Widodo's
administration two months into campaigning.
On Thursday, challenger Prabowo Subianto announced he will slash corporate and
personal income taxes if he comes to power, part of a plan to lure more investment to
South-east Asia's biggest economy.
The stimulus package announced by the government include, among other things, tax
cuts from next year for exporters of commodities in the mining, plantation, forestry and
fishery sectors who keep their export revenues in the domestic banking system.
Finance Minister Sri Mulyani Indrawati, one of several ministers fronting a press
conference at the presidential palace on Friday, said that a reduction of income tax will
apply to the interest of time-deposits both in local and foreign currencies deriving from
export revenues.
However, exporters who do not keep their export earnings domestically may be barred
from moving their goods overseas.
"Regarding the export revenues, we will impose an administrative sanction by way of
banning exports," she added.
Experts say it is a move to stem capital outflows which has seen the embattled rupiah
plunge to its lowest levels since the 1998 Asian Financial Crisis. Mr Joko had in July met
executives from about 40 exporters in Indonesia to also make the case for earnings
currently kept offshore to be brought home to help the rupiah.
Mr Satria Sambijantoro, an economist at Bahana Securities, said by keeping export
revenues in the country, the foreign exchange reserves can grow, which will help mitigate
capital outflows from Indonesia in the future.
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21 CITI-NEWS LETTER
"In the end, foreign exchange liquidity in domestic banks will remain ample at times of
external shocks," he told The Straits Times.
To attract foreign investments, the stimulus package will provide for a tax holiday for two
industrial sectors - agriculture-based manufacturing and digital industry - as well as allow
for a relaxation of the country's Negative Investment List for some priority sectors, such
as textile printing and weaving, said Industry Minister Airlangga Hartarto at the same
press conference.
The list specifies sectors which are either entirely closed or conditionally open to foreign
investment, including oil and gas, trading, pharmaceuticals and transportation.
With the change, foreign ownership in 54 business sectors, including the steel, chemical
and petrochemical industries can now be 100 per cent, up from the present 30 per cent to
67 per cent.
Coordinating Economic Minister Darmin Nasution said: "We cannot address current
account (deficit) issue only. That's important, but not enough. We must formulate policies
to give investors confidence and allow capital inflows."
The economic stimulus package follows similar moves made since 2015 to make it easier
for investors to do business in the country and spur growth.
It also complements the last stimulus package introduced in August last year with a goal
to encourage more foreign investment.
Among other things, the measures introduced in 2017 provided for an integrated business
permit system that enables investors to submit online all necessary documents for an
investment licence, instead of having to do it through multiple government departments.
All this against the backdrop of a worsening external economic situation that has seen
Indonesia struggle to meet Mr Joko's 7 per cent growth target.
The central bank anticipates the economy will expand by 5.1 per cent this year, compared
to last year's 5.07 per cent. The government said in August economic growth will be 5.18
per cent this year.
Indonesia has been struggling to manage its fluctuating currency as investors lose
confidence in the emerging economy amid developments in the global economy.
Centre of Reform on Economics Indonesia executive director Mohammad Faisal said that
with United States intensifying efforts to boost its economy, including adopting a hawkish
monetary stance, capital has been sucked out of emerging economies like Indonesia.
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22 CITI-NEWS LETTER
"All emerging markets are affected by shocks from the US, but our currency depreciation
is among the deepest," he said, pointing out that the country's current account deficit has
been a major trigger.
The rupiah has been on an upward trend since early November on the back of faster-than-
expected growth in the third quarter and better external outlook.
It traded at 14,611 rupiah per US dollar at the foreign exchange spot market on Friday's
closing session versus 14,665 a day earlier, according to data compiled by Bloomberg.
However, analysts warn that risks remain on the horizon, particularly with imports
traditionally spiking during the year-end holidays, which might contribute to a higher
current account deficit.
Indonesia posted a much-higher-than expected trade deficit of US$1.82 billion (S$2.5
billion) in October, as imports picked up much faster than exports, Statistics Indonesia
announced on Thursday.
The figure is the second-highest deficit this year after the US$2.03 billion deficit recorded
in July. The trade deficit has also contributed to a weakening of the rupiah.
Bank of Indonesia (BI) on Thursday raised its benchmark rate by 25 basis points for the
sixth time this year, to 6 per cent, in a further move to support the rupiah in anticipation
of a potential fourth hike this year in US rate, likely in December.
BI Governor Perry Warjiyo argued that the interest rate increases, along with instruments
to control imports, will help narrow the current account deficit to 2.5 per cent of GDP next
year.
This year, the central bank estimates the gap will stay below 3 per cent.
Home
Supply chain shift to Asean countries is accelerating
(Source: Phnom Penh Post, November 16, 2018)
GLOBAL trade tensions continue to dominate this year’s headlines and the shift of
production to efficient Asean countries is accelerating.
Asean businesses are clearly paying attention and are making incremental changes to
their supply chains, but is the pace of change fast enough?
HSBC’s global Navigator survey – which was launched this week and included the views
of more than 8,500 corporates (1,000 in Asean) – finds Southeast Asia as the most trade-
positive region in the world.
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23 CITI-NEWS LETTER
Moreover, Navigator reveals that business decision-makers in Asean view the global shift
towards protectionism as increasing the value of their business.
Being positive towards both trade and protectionism seems a little counter-intuitive at
first glance.
But dig a little deeper and it is clear that businesses are shrewdly seeing and capitalising
on the opportunity amid the emerging trade disruption.
Shifts in production to Asean can – and are – happening quickly.
Thailand and Malaysia already have existing production networks in electronics,
especially in hard disk drive (HDD) assembly.
Thailand exports about the same amount of finished storage units to the US as does China.
Given Asean’s existing capacity, it makes increasing sense to shift assembly to Southeast
Asia, especially now that Chinese shipment of HDDs from the US are subject to at least a
10 per cent tariff, making the move to Asean markets all the more compelling.
Singapore, the Philippines and Vietnam also produce a variety of electronic components,
while Vietnam and Indonesia have become increasingly competitive in light
manufacturing and textile exports.
Investment data already show an increased shift to Asean. Vietnam’s inbound
manufacturing investment has grown by 18 per cent this year, while Thailand and the
Philippines have both experienced a significant increase in net FDI.
Meanwhile Harley Davidson, Panasonic and Steve Madden said they will relocate
production to the region.
But while there are immediate opportunities, supply chain networks aren’t linear, rather
they are an ecosystem. So, it’s not as straightforward as a multinational corporation
shifting production to an idle factory.
Businesses first need to take a view on the overall impact of tariffs on Chinese goods.
Factors including labour costs, shipping costs, and regulations need to be weighed to
determine whether additional capacity will be built.
This has implications for Asean as a region and for individual suppliers.
For Asean, an increase in HDD exports is definitely welcome. But countries like Thailand
and Malaysia need to move further up the electronics supply chain into higher value-add
semiconductor fabrication, particularly of more advanced memory chips, to stay
competitive.
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24 CITI-NEWS LETTER
This will require nations and businesses to invest in infrastructure, new facilities and the
training of skilled workers. Economies that can improve the quality of their exports, and
have more room for reallocation and further upgrading, stand a higher chance in
capturing supply chain opportunities.
At an individual business level, suppliers across Asean need to accelerate the adoption of
new technologies such as automation and robotics, perhaps even running smart
warehouses. This can help enable an uptick in production capacity to meet global
demands, increasing production efficiency and in-time delivery.
Home
El Salvador invites Indian IT, energy companies
(Source: The Hindu Business Line, November 16, 2018)
El Salvador has invited Indian companies to forge alliances in technology and business
collaborations and exchange of ideas in Information Technology (IT) and energy sectors.
Ariel Andrade Galindo, Ambassador of El Salvador, in an interactive session organised by
the Bangalore Chamber of Industry and Commerce (BCIC) told industry leaders that since
Bengaluru is the IT Hub, El Salvador is very keen on having business tie-ups in the IT
sector.
El Salvador is also opening its doors to sectors such as agro-industry, light manufacturing,
textile and apparels and tourism among others.
Advantages
Galindo said, “We have developed a legal framework that facilitates and guarantees
protection of investments because we are interested in developing a long-term
relationship with investors. El Salvador is a cost-competitive country to set up and
operate a business in the region. It has free zones and service parks that stand out for their
strategic location and easy access to competitive infrastructure.”
“As part of our commitment to attract investment, we have implemented attractive tax
incentives. El Salvador is the most competitive country in Central America in terms of
benefits paid by employer. In addition, one of our main advantages is our labour force,
world famous for its industriousness, efficiency and work ethic,” he added.
Quoting the Index of Economic Freedom published by The Wall Street Journaland the
Heritage Foundation in 2018, Galindo said El Salvador’s economy is among the freest in
the region.
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25 CITI-NEWS LETTER
It is ranked the third in Central America and ninth in Latin America. El Salvador also
stands out in investment freedom, which indicates the country’s strength to maintain free
trade politics that promote investments. Kishore Alva, President, BCIC, and Joint
President and Executive Director, Adani-Udupi Power Corporation, talked on the IT
prowess of India.
Home
NCTO Testifies At U.S. International Trade Committee Hearing On U.S.-
Mexico-Canada Agreement (USMCA)
(Source: Textile World, November 16, 2018)
The U.S. International Trade Commission (ITC) held a public hearing on November 15-
16 in Washington, D.C. as part of its investigation of the likely impact of the U.S.-Mexico-
Canada Agreement (USMCA) on the U.S. economy. National Council of Textile
Organizations (NCTO) President & CEO Auggie Tantillo testified on Panel 4, General
Manufacturing, on Friday, November 16, the hearing’s second day.
Tantillo’s testimony as prepared for delivery is below:
Testimony of Auggie Tantillo, President and CEO National Council of Textile
Organizations
U.S. International Trade Commission Hearing on the United States-Mexico-
Canada Agreement
On behalf of the National Council of Textile Organizations (NCTO), thank you for the
opportunity to provide input regarding the recently negotiated United States-Mexico-
Canada Agreement (USMCA). NCTO represents the full spectrum of the U.S. textile
sector, from fibers to yarns to fabrics to finished products, as well as suppliers of
machinery, chemicals, and other products and services with a stake in the prosperity of
our industry. The entire U.S textile manufacturing chain, from fiber through finished
sewn products, employs 550,000 workers nationwide. In 2018, the industry
manufactured nearly $78 billion in output, while exporting more than $28 billion of our
production. I want to preface my remarks by stating that NCTO has not yet adopted a
formal position on USMCA. We have produced a detailed internal analysis on the
agreement for our members and have solicited their feedback. Once we have reviewed
input from our membership, the NCTO Board will come to final position that we will then
make public.
With that said, it is important to note that the United States, Canada, and Mexico have
built a vibrant and prosperous textile production chain over the 24-year life of the North
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26 CITI-NEWS LETTER
American Free Trade Agreement (NAFTA). In 2017, total textile and apparel trade
between the three countries was approximately $20 billion. U.S. exports accounted for
more than $11 billion of this trade, with Canada and Mexico serving as our two largest
export markets worldwide.
These figures compare to just $7 billion in textile trade between the three countries in
1993, the year prior to NAFTA’s implementation. An understanding of this data validates
that the current, yarn-forward structure embedded in NAFTA has been highly successful,
providing significant benefit to North American manufacturers throughout the entire
textile production chain.
It is for this reason that NCTO is very pleased that the basic textile origin rules adopted
originally in NAFTA were essentially reaffirmed in USMCA. Further, we commend the
three governments for creating a separate textile chapter in the new agreement as
opposed to relegating textiles to an annex of the broader market access provisions. A
stand-alone chapter recognizes the sensitivities associated with trade in this sector and
allows for unique provisions, such as separate and enhanced customs enforcement
language over the original NAFTA. Enforcement is critical in the textile sector as the
lucrative duty-free benefits create enormous incentives for fraud.
In terms of changes to the original text, NCTO is very supportive of revisions that will
require the use of USMCA-origin sewing thread, pocketing, narrow elastics, and coated
fabrics in certain end items. While there are transition periods associated with these new
requirements, their ultimate inclusion should offer a boost for U.S. producers formerly
left out of the origin rules in the original NAFTA. We estimate the USMCA market to be
$250 million annually for sewing thread for apparel applications and $70 million
annually for pocketing.
We are also appreciative of a key change made in the Government Procurement Chapter
of USMCA regarding the Kissell Amendment, which is a Buy American statute for textiles
that applies to the Department of Homeland Security (DHS). Kissell requires 100% U.S.
content, with very limited exceptions, for purchases by the Coast Guard and
Transportation Security Administration (TSA).
Regarding TSA procurement, Kissell has a problematic loophole tied to NAFTA that has
allowed Mexico to supply these contracts. As a result, under the terms of NAFTA, Mexico
can supply TSA uniforms made from Mexican fiber, yarn, and/or fabric. The TSA Mexico
loophole translates to a significant weakening of U.S. Buy American statutes. Noting that
DHS spent $34 million on clothing and textiles for TSA in FY2017, closing the Kissell
loophole was a substantive change from NCTO’s perspective.
While all the items mentioned to this point are clear improvements to the original NAFTA,
there was one key area of disappointment, from our perspective, with USMCA. NAFTA
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27 CITI-NEWS LETTER
incorporated a major exemption to the yarn-forward origin requirement through a system
of Tariff Preference Levels (TPLs). TPLs allow products to be shipped duty free among
free trade partner countries even though the components within the product are sourced
from countries that are not signatories to the agreement. While NAFTA TPLs have annual
limits that cap their impact to a degree, more than $641 million in textile and apparel TPL
shipments entered the U.S. last year. As such, eliminating the TPLs was a primary focus
of NCTO’s in the NAFTA renegotiation. While USMCA did reduce the size of some specific
TPLs, the reductions will not cut into existing trade levels. This outcome is frustrating
given the President’s stated goals of increasing benefits for U.S. manufacturers and
eliminating provisions that have helped non-signatory countries, such as China, take
advantage of tariff preferences intended for North American producers.
Conclusion
As stated earlier, NCTO is not yet in a position to communicate a formal position on
USMCA. We hope to have a decision finalized soon, which will be shared with both the
Administration and Congress as soon as we complete our review process.
Nonetheless, it is accurate to state that in an overarching fashion, the new agreement is
an improvement over the original NAFTA in many areas. This is certainly the case for
U.S. manufacturers of component parts such as thread, pocketing, narrow elastics, and
coated fabrics. There is also a clear victory on the Kissell amendment and a strong
upgrade in customs enforcement. With our strong disappointment in the TPL outcome
noted, we are also grateful for the Administration’s willingness to work with domestic
manufacturers in an effort to improve this important agreement. Thank you for this
opportunity to provide input, and I would be pleased to answer any questions that you
may have at this time.
NCTO is a Washington, DC-based trade association that represents domestic textile
manufacturers, including artificial and synthetic filament and fiber producers.
U.S. employment in the textile supply chain was 550,500 in 2017.
The value of shipments for U.S. textiles and apparel was $77.9 billion in 2017.
U.S. exports of fiber, textiles and apparel were $28.6 billion in 2017.
Capital expenditures for textile and apparel production totaled $2.4 billion in
2016, the last year for which data is available.
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