Synopsis India and New Zealand aim to boost bilateral trade by addressing market access issues, enhancing sector collaborations, and improving connectivity. GTRI suggests doubling trade within five years, leveraging the strong Indian diaspora, and promoting direct fights and simplified visa processes. The proposed free trade agreement offers limited benefit due to existing significant market access. India and New Zealand should address market access issues for goods, promote collaborations in key sectors, and work on improving connectivity with an aim to boost bilateral trade, which is just USD 1.5 billion, think tank GTRI said on Sunday. Both countries should set a target to double two-way trade within five years by identifying products for early tari relief and organizing business delegations and roadshows in India, it said. It also said that India's proposed free trade agreement with New Zealand would have limited benefit to domestic companies as they are already enjoying duty free access to a significant number of goods in that market. New Zealand's average import tari is just 2.3 per cent, compared to India's 17.8 per cent Besides, 58.3 per cent of New Zealand's tari lines (or product categories) are duty-free, meaning Indian products already enjoy significant access without a trade pact in the New Zealand market, the Global Trade Research Initiative (GTRI) said. GTRI Founder Ajay Srivastava said that while the India-New Zealand CECA (comprehensive economic cooperation agreement) negotiations remain stalled, both countries can take steps to enhance their trade and economic ties. "By addressing market access issues, promoting collaboration in key sectors (like agriculture, pharmaceuticals, IT, education, and tourism), and improving connectivity, India and New Zealand can unlock their trade potential and create a more robust economic partnership," he said. He added that the USD 1.54 billion bilateral trade in 2023-24 highlights a significant underperformance in economic ties. With India's goods exports at USD 538.3 million and New Zealand's exports at USD 335.1 million, both countries have yet to tap into their true trade potential, he said. India and New Zealand began negotiating the CECA in April 2010 to boost trade in goods, services, and investment. After nine rounds of discussions, however, the talks stalled in 2015. The think tank also said that the Indian diaspora in New Zealand, with over 250,000 people of Indian origin, provides a strong cultural link that can be used to strengthen trade relations. "Encouraging more Indian students to study in New Zealand by lowering fees and providing faster visa pathways could also boost New Zealand's education sector," GTRI said, adding collaboration across sectors such as agriculture, forestry, fintech, and education should be promoted to unlock trade potential. Further improving connectivity is another critical step and increasing direct fights between the two nations would facilitate both trade and tourism. "Simplifying visa processes, including introducing multi-entry, multi-year tourist visas, would also make it easier for businesspeople and tourists to travel between the two countries," it added. The GTRI suggested recognizing Indian professional qualifications as it could help Cll skill gaps in New Zealand's labor market, particularly in sectors such as IT, healthcare, and aviation. India's key goods exports to New Zealand include clothing, fabrics, and home textiles; medicines and medical supplies; refined petrol; agricultural equipment and machinery such as tractors and irrigation tools; auto; iron and steel; paper products; electronics; shrimps; diamonds; and basmati rice. The main imports are agricultural goods, minerals, apples, kiwifruit, meat products such as lamb, mutton, milk albumin, lactose syrup, coking coal, logs and sawn timber, wool, and scrap metals.
Source: Economic Times
Commerce and Industry Minister Piyush Goyal has said that India would work with the European Union to develop cutting-edge technologies and secure critical raw material supply chains to strengthen economic ties. These issues were discussed during a meeting between Goyal and Maros Sefcovic, European Commissioner for Trade and Economic Security on January 18-19 in Brussels. The two leaders also agreed to build a commercially meaningful trade agenda and work towards a mutually beneficial Free Trade Agreement (FTA). The commerce and industry ministry in a statement on Sunday said that India would build a commercially meaningful trade agenda with the EU, which is fair and equitable, addressing the tariff and non-tariff barriers through simplification and cost competitiveness for benefits of businesses from both sides.
"India would work together with the EU for developing cutting edge technologies, secure critical raw material supply chains and build resilient supply chains- reducing dependencies on non-market economies and developing closer economic ties between India and the EU," it said. Both sides also discussed increasing cooperation in the area of trade and sustainable development in a fair manner keeping in mind the respective level of developments and the principle of common but differentiated responsibility."The two leaders outlined political directions to both the teams to develop a mutually beneficial agenda for trade and investment and a robust FTA in an expedited manner to meet global challenges," the ministry said. They reviewed progress in the trade and investment group of the India-EU Trade and Technology Council (TTC), agreed to address legacy issues and laid a roadmap for continuous consultations between senior officials from both sides and at ministerial level.
Source: Business Standard
Union Minister of Commerce and Industry Piyush Goyal began his visit to Brussels on Saturday with a meeting with Maros Sefcovic, the European Union Commissioner for Trade and Economic Security. The two leaders discussed bilateral issues, including trade relations and the India-EU Free Trade Agreement. Goyal is on a visit to Brussels for a High-Level Dialogue with Maros Sefcovic from January 18-20.Sharing a post on X, Goyal wrote, "Began my Brussels visit with a warm first meeting with@MarosSefcovic, EU Commissioner for Trade and Economic Security. We exchanged views on bilateral issues including trade ties and the India-EU Free Trade Agreement."In another post, he wrote, "Co-chaired the delegation-level meeting with EU Commissioner for Trade and Economic Security @MarosSefcovic. Engaged in productive discussions, reviewing bilateral trade ties and the progress of the India-EU FTA, and the Trade and Technology Council (TTC). Also deliberated on the global trade situation. Looking forward to working towards a fair, balanced, and equitable FTA, as well as the 2nd meeting of the TTC."
Sefcovic said that he is "pleased" to host Goyal for the High-Level Trade and Investment Dialogue. In a post on X, Sefcovic wrote, "Pleased to host Minister @PiyushGoyal for the High-Level Trade and Investment Dialogue, with the shared objective to take the EU-India partnership to the next level. Looking forward to our 2-day engagement to galvanise our joint efforts. There's a lot to gain on both sides." Meanwhile, Ambassador of the EU to India, Herve Delphin, also highlighted the importance of talks between Goyal and Sefcovic, and said that both the sides committed to make "breakthrough on crucial trade and investment issues." Delphin wrote on X, "Important talks this weekend in Brussels between Minister of Commerce @PiyushGoyal & @MarosSefcovic, EU Trade Commissioner. Both sides committed to make a breakthrough on crucial Trade and Investment issues, which could release substantial mutual benefits."
Earlier in a press release on Friday, the Ministry of Commerce and Industry had said, "This visit underlines the importance that India attaches to its trade and investment ties with the European Union (EU), one of our largest trading partners with bilateral trade estimated at over USD 180 billion in 2023-2024. At the same time, the EU is also a significant source of Foreign Direct Investment, with total FDI estimated at USD 117.34 billion." On the sidelines, Goyal is also expected to meet Ngozi Okonzo-Iweala, Director General of World Trade Organisation; Bernard Quintin, Minister of Foreign Affairs, European Affairs and Foreign Trade of Belgium apart from holding interactions with representatives of Belgian industry and Indian community.
Source: Business Standard
NITI Aayog member and renowned economist Arvind Virmani on Saturday said he has revised his GDP growth projection for India on the lower side for FY'25 due to rising global uncertainties and risks, particularly from the United States and China. Virmani, who had earlier predicted a GDP growth in the range of 6.5-7.5 per cent, adjusted the projection to 6.5-7 per cent now with high probability of it being sub-7 per cent, amidst heightened risk aversion stemming from global political and economic challenges. "My focus from the beginning of the year was 7 per cent plus-minus 0.5 per cent, which means 6.5-7.5 per cent. But now I am revising it to 6.5-7 per cent. The political uncertainties created by the US elections is much higher than I had anticipated," Virmani said. "The US election uncertainty has a domino effect, influencing Europe, China, and other regions, indirectly impacting India," he said on the sidelines of an interactive session with MCCI.
He highlighted the significant slowdown in China's economy, noting its "irrational" capacity-building approach despite reduced capacity utilisation. "China's overcapacity, coupled with its slowing economy, has exacerbated global uncertainty and risk aversion, and may further affect India's growth trajectory," he added. Despite these challenges, Virmani remained optimistic about India's long-term prospects. "If India sustains 6 per cent growth for the next 25 years, it is well-placed to become an upper-middle-income or even a high-income country, coming close to China," he said.
Addressing the uneven distribution of investments across various states, Virmani said the NITI Aayog is working on benchmarks and indices to help states improve their investment climate, including Foreign Direct Investment (FDI) inflows. "Currently, only a few states attract the majority of investments. The Modi government recognises the crucial role of states and aims to provide actionable insights for others to catch up," he said. International institutions estimate GDP growth of India at 6.4-6.5 per cent.
Source: Business Standard
The Union Cabinet has approved a Rs 11,440 crore package to bail out debt-laden public-sector undertaking (PSU) Rashtriya Ispat Nigam Limited (RINL), or Vizag Steel, the central government said on Friday. With this revival package, many of the legacy problems that RINL used to face will be resolved, said Union Minister of Information and Broadcasting Ashwini Vaishnaw. “The infusion includes Rs 10,300 crore as equity capital into RINL and Conversion of Rs 11,440 crore working capital loan as 7 per cent non-cumulative preference share capital redeemable after 10 years to keep it as a going concern,” said the official statement of the Cabinet that met on Thursday. RINL operates the Visakhapatnam Steel Plant (VSP), the only offshore steel plant under the government sector in Andhra Pradesh. It has an installed capacity of 7.3 million tonnes per annum (mtpa) of liquid steel. According to the Centre’s statement, the financial condition of RINL is critical. At the end of FY24, RINL had a negative net worth of Rs 4,538.00 crore, while current assets stood at Rs 7,686.24 crore, and current liabilities were Rs 26,114.92 crore. “RINL has exhausted the sanctioned borrowing limits from banks for working capital and was not in a position to get further loans from banks. RINL also defaulted on the capex loan repayments and interest payments in June,” the Cabinet said. Simultaneously, a lot of efforts will be made to secure raw material for RINL and modernise the plant, according to Vaishnaw.
“The equity infusion of Rs 10,300 crore into RINL will help it overcome operational problems related to raising working capital and start blast furnace operations in the most productive way. This would allow the company to gradually reach its full production capacity, which is critical and is in the national interest to have stability in the Indian steel market by augmenting steel production and also save the livelihoods of employees (regular and contractual) and those dependent on the operations of the steel plant,” the Cabinet said.
The revival plan envisages that RINL will start full production with two blast furnaces in January 2025 and with three blast furnaces in August 2025. Among other short-term bailout measures, RINL had tried to stave off its financial issues by selling its forged wheel plant in Raebareli to the Indian Railways last year for Rs 2,250 crore. The proceeds of this transaction were reportedly used to pay off bank loans. Poor performance from the plant had forced the Railways to import forged wheels for semi-high-speed trains, such as Vande Bharat. After the Russia-Ukraine war, the national transporter imported these wheels from China. The revival and continued operation of VSP at its full capacity will ensure efficient utilisation of public resources and help in achieving the objectives of the National Steel Policy, 2017, the Cabinet said.
Source: Business Standard
The weaker rupee will push the country's import bill due to higher payments for crude oil, coal, vegetable oil, gold, diamonds, electronics, machinery, plastics, and chemicals, economic think tank GTRI said on Friday. Citing an example, it said the depreciating domestic currency will increase India's gold import bill, especially as global gold prices have jumped 31.25 per cent, rising from USD 65,877 per kg in January 2024 to USD 86,464 per kg in January 2025. Since January 16, last year, the Indian Rupee (INR) has weakened by 4.71 per cent against the US dollar, falling from Rs 82.8 to Rs 86.7. In the last ten years, between January 2015 and 2025, the INR has weakened by 41.3 per cent against the US dollar, falling from Rs 61.4 to Rs 86.7, the Global Trade Research Initiative (GTRI) said in its report. In comparison, the Chinese Yuan depreciated by 3.24 per cent, from Yuan 7.10 to Yuan 7.33. "Overall, weaker INR will inflate import bills, raise energy and input prices, leading to an overheated economy. Past ten-year export data says that weak INR does not help exports contrary to what economists say," GTRI Founder Ajay Srivastava said. He added that while conventional wisdom suggests that a weaker currency should boost exports, India's decade-long data tells a different story: high-import sectors are thriving, while labour-intensive, low-import industries like textiles are floundering.
The think tank also said that for sectors relying heavily on imports, a depreciating rupee against the US dollar increases input costs, reducing competitiveness.
In theory, sectors with low import dependence, like textiles, should gain the most from a weaker rupee, while high-import sectors like electronics should benefit the least. "However, trade data from 2014 to 2024 tells a different story. During the 2014 to 2024 period, overall merchandise exports grew by 39 per cent, but high-import sectors like electronics, machinery, and computers saw much higher growth," he said adding electronics exports surged by 232.8 per cent, and machinery and computer exports grew by 152.4 per cent. Meanwhile, low-import sectors like textiles and clothing experienced negative growth, even though the weaker rupee should have made their goods more competitive globally, he added. "These trends suggest that a weaker rupee doesn't always boost exports. It hurts the labour-intensive exports most and helps import-driven exports with low-value add," Srivastava said. The GTRI suggested that for India to achieve long-term economic stability, it must strike a careful balance between growth and inflation control while rethinking its rupee management and trade strategies. "However, the reality is sobering. Much of India's USD 600 billion foreign reserves are loans/investments due for repayment with interest, limiting their role in stabilising the rupee," he said.
Source: Business Standard
The textiles ministry may see a 15% increase in its budget allocation for FY26, rising to approximately Rs 5,080 crore. This includes a significant 33% boost for the Production Linked Incentive (PLI) scheme for textiles, with its allocation expected to climb from Rs 45 crore to Rs 60 crore. The final announcement will be made by Finance Minister Nirmala Sitharaman in the Union Budget 2025-26 on February 1.
The government launched the PLI scheme for textiles in 2021, with an outlay of Rs 10,683 crore over five years, to promote the production of man-made fibre (MMF) apparel, MMF fabrics, and technical textile products. This initiative aims to help the textiles industry scale up and compete globally. An official stated, “We have ambitious targets for the textiles sector and are exploring measures to encourage domestic manufacturing. Some initiatives may be announced in the budget”. India has set a goal to reach $600 billion in textiles exports by 2047, alongside expanding the domestic market from $110 billion in 2022 to $1.8 trillion. Textiles exports for April-December FY25 stood at $26.6 billion. Despite these aspirations, the country relies heavily on imports of advanced textiles machinery like auto-corners, knitting machines, and synthetic dyeing equipment. The Confederation of Indian Textile Industry chairman, Rakesh Mehra, has suggested an interest subsidy of 7% for at least 10 years to promote local machinery manufacturing. Additionally, machines for technical textiles, including spun lace, spun bond, mask production, and special fibre processing, are also imported, highlighting the need for domestic production capabilities to reduce dependency and boost competitiveness.
Source: Siliconindia
COIMBATORE: Cash restrictions owing to the Model Code of Conduct (MCC) in the Erode (East) assembly constituency have taken a toll on the textile business considered to be a driving force behind the largely rural economy in the district. “Sales have been hit completely in the EKM Abdul Gani Textile Market also known as Gani Market ever since polls were announced. Traders from other states, who do business in bulk have stopped coming fearing cash seizure by election authorities. Usually, Pongal is the time when up to 70 per cent of the annual business would be done in the market. But this year, there was not even 50 per cent of the regular business due to polls,” said K Selvaraj, president of Erode Gani Market Weekly All Textile Merchants Association.
Traders wanted restrictions on carrying cash above Rs 50,000 to be relaxed to around Rs 2 lakh to facilitate the business of small traders. Some election authorities even disturb traders who have a proper bill for their purchase under the pretext of checking, say traders. There are around 720 weekly wholesale shops in the market that would be buzzing with activity from Monday night to Tuesday as traders from Kerala, Karnataka, Telangana and Andhra Pradesh descend to make bulk purchases. Also, traders from Vellore, Chennai, Chengalpattu, Arani, Tiruvannamalai and across Tamil Nadu used to come for purchase. Besides shops in the market, there are also hundreds of textile shops at Ashokapuram and Eswaran Kovil Street hit by lack of business 30% of sarees and 5% of dhotis are yet to be produced as per government order for PDS 30% in wages is demand of the weavers at present Rs 24 is what weavers get for production of a veshti now and for a saree it is Rs 43 40,000 and above power loom units present in Erode and Namakkal districts produce around 1.44 crore sarees and dhotis 1 lakh people are employed by the power sector directly and another 1 lakh people indirectly 50% dip has been seen in Pongal business at Gani Market due to the existing MCC 700 weekly shops and 300 daily shops exist in Gani Market Upgraded textile policy needed to resolve issues faced by the textile sector. Weavers demand CETP facilities and the implementation of marine discharge systems.
Source: DT Next
Synopsis India's economic environment is favouring private investments with the country emerging as a "bright spot" amid global challenges, according to a CII survey. Early results indicate 97% of rms might increase employment in upcoming years, and 75% believe conditions are suitable for private investments. India's current economic environment is conducive for private investments with the country emerging as a "bright spot" amid the challenging global environment, according to a CII survey. The pan-India survey is an ongoing initiative, which would be completed for 500 rms by the first week of February. The interim results are based on a sample of 300 rms spread across all industry sizes (Large, Medium and Small). Notably, early results reveal that about 97 per cent of the sample rms are likely to increase employment in both 2024-25 and 2025-26. In fact, 79 per cent of the respondents' rms said that they added more people over the past three years. The CII survey, which was conducted over the past 30 days, suggests that 75 per cent of the respondents believe that the current economic environment is conducive to private investments. "Given that 70 per cent of the rms surveyed said that they would invest in FY'26, an uptick in private investments might be on the cards over the next few quarters", said Chandrajit Banerjee, Director General, CII. "Even though geopolitical fault lines have disrupted global supply chains and have posed serious challenges to global growth, India has emerged as a bright spot amid this challenging global backdrop. The sound economic policies initiated by the Government helped revive the economy with emphasis on public capex-led growth," stated CII. The industry survey was conducted to assess the pickup in private-sector investments, employment in the private sector and growth in wages in the private sector. The average increase in direct employment due to planned investments in the next year is expected to be in the range of 15 to 22 per cent between the manufacturing and services sectors respectively. Similar expectations were seen in the interim results on indirect employment with manufacturing and services rms expecting about 14 per cent increase in indirect employment respectively over and above the existing levels of employment. Majority of the rms surveyed indicated that it takes anywhere between 1 to 6 months to Cll in vacancies of Senior management, Management/ Supervisory level, while regular and contractual workers take less time to ll in a vacant position indicating the need to Cll the availability of skilled state at the higher level in sample rms. "With the two critical drivers of growth - private investments and employment - looking positive, we feel confident that the overall growth is likely to remain around a stable 6.4-6.7 per cent this year and is likely to be 7 per cent in FY26", said Banerjee. On wages growth, which has impact on personal consumption, 40 to 45 per cent of sample rms surveyed saw an increase in average wage growth for senior management, managerial/ supervisory roles and regular workers in the range of 10 to 20 per cent in FY 25. The trend was similar in FY 24. "These are promising results, exhibiting confidence about some of the important aspects of the economy. That said, results of the survey, when read along with various other emerging economic indicators, will help in a comprehensive understanding of the economy", underlined the Director General of CII.
Source: Economic Times
Yarn imports witnessed a significant surge in 2024, creating uneven competition for local spinners against foreign companies mainly because of higher production costs fuelled by a gas crisis, industry people said. Bangladesh imported 680.43 million kilograms of cotton yarn under bonded facility last year, which was 39.16-percent higher than the 2023 figure of 488.96 million kg, according to the data compiled by Bangladesh Textile Mills Association (BTMA). The country paid some $2.27 billion for the 2024 imports, which was $1.75 billion in 2023. Besides, the imports of woven and knitted fabrics recorded a 20.02 per cent and a 38.35 per cent rise, respectively, in 2024. Bangladesh imported 588.85 million kg of woven fabrics last year, which was 490.63 million kg in 2023. On the other hand, knitted fabric imports stood at 439.07 million kg in 2024, up from 317.36 million kg in the previous year. Due to higher production costs, the gas crisis, and incentive cuts, domestic textile millers, especially spinners, are facing uneven competition against their foreign competitors and also losing yarn orders even from local readymade garment (RMG) exporters, industry people said. RMG exporters for the last one year preferred sourcing the raw material from abroad, hindering the local spinning sector's growth, they also said. Yarn is required to manufacture fabrics. RMG exporters usually source raw materials like yarn and fabrics from the local market when they have a pressure of work orders and have to shorten the lead time despite a price difference, insiders added. Garment exporters said local yarn prices are higher than that of the imported variety, while textile millers argued that the high costs of utilities and poor gas supply pushed up their production costs, making local yarn pricier. When asked, former Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) president Fazlul Hoque said yarn imports increased mostly from India because of the local variety's high prices. The price difference between the local and imported combed yarn went up to 40 cents per kg on average, he said, adding apparel makers having more capabilities, including large storage facilities and long lead time, prefer imported yarn. Besides, the government has cut incentives that earlier encouraged RMG exporters to source yarn from the local market, he noted. Echoing Hoque, former Bangladesh Garment Manufacturers and Exporters Association (BGMEA) president Faruque Hassan said they need some finer count yarn to produce value-added and blended (mixture of cotton and other manmade fibres) garments, which local spinners cannot provide. Though there are a few mills that produce manmade fibres, the prices are high, he said. The price difference between local and imported yarn was 20-30 cents previously, which has now increased, said Hassan. He alleged local millers are unwilling to supply yarn over 40 counts or 42 counts, which also encouraged RMG exporters to opt for imports. Talking to The Financial Express on Sunday, Little Star Spinning Mills Chairman Khorshed Alam claimed India is exporting yarn to Bangladesh at a dumping rate for having its own raw material of cotton and storage facility near the Benapole port. He alleged Indian businesses are selling their yarn at a dumping rate as they get policy support from their government while they have their own cotton. For example, he said, India provides various policy support for its local textile mills, including incentives on labour and electricity costs. As a result, millers can sell their products at the same rate as their production costs, Alam added. "On the other hand, we do not have the main raw material - cotton. Besides, we are not getting the required gas supply and bank interest rates have gone up to double digits," the businessman explained. Indian yarn exporters also make quick deliveries through the Benapole port immediately after orders are placed, he noted. According to Alam, local yarn prices in Bangladesh have gone up due to high utility costs and gas supply shortages. "Costs increased on the one hand, and on the other, millers cannot use their full production capacity due to the poor supply of gas," he added. Local yarn is losing competitiveness and garment exporters are sourcing yarn from outside the country under the bonded warehouse facility as the imported variety is cheaper than the local one, Alam further said. He also alleged that some traders imported yarn by using the licences of some exporters and imported higher counts of yarn, such as 80 counts, under the name of 30 counts. Industry insiders say local textile mills meet about 80 per cent of the demand for the knitwear subsector and 35-40 per cent for woven. Bangladesh fetched $38.48 billion from RMG exports in 2024, with knitwear earning $20.52 billion and woven $17.95 billion, according to the BGMEA data. The country earned $35.88 billion in 2023 from garment exports.
Source: Economic Times
ISLAMABAD: All Pakistan Textile Mills Association (Aptma) has expressed concern at nonresolution of pending Regionally Competitive Energy Tariffs (RCET) claims of Lasbela Industrial Estate Development Authority (LIEDA) despite passage of five years. In a letter to Secretary Power Division, Secretary General Aptma Shahid Sattar referred to Aptma’s earlier correspondence of November 11, 2024 and the letter from Nepra of November 6, 2024, regarding non-provision of ZRI relief to LIEDA based textile/ zerorated consumers (K Electric). In January 2019, the government of Pakistan notified Regionally Competitive Energy Tariffs for all export-oriented industries across Pakistan through SRO on January 1, 2019, and the SRO was withdrawn in March 2023. ZRI consumers in LIEDA: PD under fire over ‘AMR’ meter ‘impasse’ During the period ranging from January 2019 through March 2023, eligible consumers across Pakistan availed RCET with the exception of consumers at LIEDA, Hub, Balochistan, and some other eligible consumers located within industrial estates. Subsequently, however, all consumers other than those located in LIEDA were extended the facility by various Discos in whose territorial jurisdiction the industrial estates were located. According to Aptma, the main reason previously given for non-provision of RCET to LIEDA consumers was that since LIEDA is not part of the Discos, the power consumption of such consumers cannot be verified. However, during proceedings of the current complaint, K-Electric conceded the eligibility of complainants is verified through the metering and billing done by LIEDA, as well as, AMR meters installed which further verify the billing accuracy, and the claims have been prepared on the basis of data recorded and verified as correct by AMR meters, apart from the double verification in the Sales Tax returns. The same has also been vetted and verified by Nepra as per the referenced correspondence. Moreover, in similar circumstances, the consumers within Sundar Industrial Estate in the territory of LESCO were also initially denied the same benefit and the issue was resolved by the Lahore High Court whereby Nepra was given the task to resolve the issue. In the case of Sundar Industrial Estate, Nepra issued clear instructions to LESCO for lowering the billing as per the notification for export-oriented companies approved by ECC and Cabinet, and all consumers in the Sundar Industrial Estate were extended this benefit. However, LIEDA consumers are being deprived of their legitimate dues through no fault of their own. This issue has been pending for a very long time. Despite Aptma’s persistent efforts in raising this matter with the Power Division, numerous meetings and extensive correspondence over several months did not yield any resolution, following which the matter was referred to NEPRA for redressal. In light of the correspondence from Nepra, Aptma has requested that the Power Division should instruct K-Electric to adjust the pending amount in the consumers’ power bills billed to LIEDA.
Source: Be Recorder
KARACHI: Pakistan significantly enhanced its participation in Heimtextil 2025, ascending to the fourth-largest exhibitor country after China, India, and Turkey at the globally recognized trade fair for home and contract textiles. Pakistan’s textile industry, with 273 exhibitors including 64 companies demonstrated a remarkable 10 percent increase as compared to the previous year at Pakistan Pavilion. The event, which commenced from 14 to 17 January, 2025 in Frankfurt, Germany, featured 2,800 exhibitors from 130 countries. The Commercial Section of the Pakistani Consulate in Frankfurt facilitated Pakistan’s participation in Heimtextil 2025. Pakistani companies were centrally placed at the exhibition with larger stalls in Hall No. 8, 9 with better strategic location. Many exporters reported that buyers from Europe, the UK, and other countries showed great interest in Pakistani stalls and products as compared to previous years. Highlighting the importance of this event, Muhammad Zubair Motiwala, Chief Executive Officer, TDAP said, “As the fourth-largest exhibitor at Heimtextil, we are optimistic about the future of the textile industry. We hope that the government will swiftly address the challenges facing the sector, enabling further growth and development”. TDAP has consistently encouraged smaller local textile exporters to participate in these exhibitions, and its efforts to increase Pakistan’s textile exports are commendable. “Heimtextil is extremely important for Pakistan’s home textile exports. With record participation this year, we anticipate a significant increase in exports,” said Shafaat Ahmad Kaleem, Pakistan’s Consul General in Frankfurt, while inaugurating the national pavilion at the Heimtextil exhibition. To foster stronger business relationships, the Pakistan Commercial Section in Frankfurt organized a networking event on January 15th, bringing together Pakistani exporters and global buyers under the ‘Thread Connect’ initiative. Heimtextil 2025, Pakistani engaged existing buyers and attracted the new ones. This event served as the industry’s most important global event and exhibitors showcased a diverse range of home textile products, including bed linen, kitchen linen, towels, and carpets, kitchen linen, institutional textile etc. highlighting unique craftsmanship and innovative designs.
Source: BRecorder
