MARKET & ECONOMY
The National Institution for Transforming India (NITI Aayog), the think tank of the Indian government, and ABB India have signed a Statement of Intent (SoI) to support the Indian government realise its ambitious vision of “Make in India†through advanced manufacturing technologies that incorporate the latest developments in robotics and artificial intelligence.
The two historical reforms viz., demonetisation and GST, brought by the Government within a span of eight months, though had a big impact on the performance of the textile manufacturing sectors especially the garment exports,etc.
Indian textile and clothing exports register positive growth. In 2017, India remained as the world’s leading cotton yarn exporter with a global market share of 25 per cent.
Siemens will be exhibiting at the automatica 2018 (June 19 to 22 in Munich) with an array of integrated and user-oriented Digital Enterprise solutions designed to sharpen the competitive edge of both end users and machine builders.
Biodegradable oil absorbent mats in India have received recognition by the Indian Coast Guard. Chennai-based WellGro Tech has recently developed highly biodegradable oil absorbent pads and mats for oil spill remediation.
The Indian Government has urged industry players to invest in technical textiles as its market is likely to double to about Rs 2 lakh crore by 2022, a top official said.
India’s economy is projected to grow 7.6 per cent in fiscal year 2018-19, remaining the fastest growing economy in the world, as robust private consumption and benefits from past reforms help the country’s GDP gain momentum, according to a UN report
Kenya’s cotton sector is generally characterised by about 140,000 smallholder farmers with a low average yield of 0.53 tonnes of seed cotton per hectare, according to the World Bank.
Heightened consumer awareness, industry initiatives such as ZDHC (Zero Discharge of Hazardous Chemicals) or the Greenpeace Detox campaign: they all pose new challenges for brands, retailers and manufacturers.