tecoya trend 29th september 2017
TRANSCRIPT
VOL. XLVII No. 201 MUMBAI, FRIDAY, SEPTEMBER 29, 2017 PRICE: Rs. 5.00
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Textile raw material prices onupswing: Wazir Textile Index
By Our Staff ReporterMUMBAI, SEPT. 28—
There was an increase inraw material prices in Q1 FY18compared to Q1 FY17. On anaverage basis, raw cotton,viscose staple fibre and polyesterstaple fibre prices increased by15%, 10% and 3% respectively in
performance of Indian textilesector for the first quarter ofFY18.
The WTI shows thatoverall, Indian textile andapparel mill sector exhibitedgrowth in overall sales duringthe first quarter of financial year2017-18. However, there hasbeen tremendous pressure onmargins due to increased inputfactor costs like raw material andmanpower resulting in steepdecline in EBIDTA levels.
Wazir informs that duringthe period under review, WTIsales was calculated to be11 3.0in quarter 1 of FY18. This reflectsthat consolidated sales of thetop 10 selected companiesincreased by 3% in Q1 FY18ascompared to Q1 FY17.
The consolidated sales ofthe top 10 selected companieswas Rs 10,122 crore in Q1 FY18compared to Rs 8,961 crore inQ1 FY16. The WTI EBITDA wascalculated to be 77.7 in Q1 FY18.This reflects the overall declineof 25% in EBITDA margin in Q1FY18. EBITDA decreasedsignificantly due to impact ofincrease in raw material cost andemployee costs. ConsolidatedEBITDA margin of top selectedcompanies was 12% in Q1 FY18declining from 16.6% in Q1FY17.
The WTI Cost for rawmaterial (RM), manpower andothers were 122.2, 130.5 & 112.9in Q1 FY18. There was asignificant increase in rawmaterial prices which resulted inoverall cost, while manpowercosts increased on the back ofincreasing labour wages.
Consolidated RM cost
constituted 54.9% of sales in Q1FY18, while consolidatedmanpower cost constituted 9.8%of sales. The impact of the costincrease was visible in thedeclining EBITDA margin.India’s Textile & Apparel (T&A)exports grew healthy in Q1 FY18
The overall T&A exports inQ1 FY18 wa sUS$ 9.5bn increasingat a healthy rate of 8% fromprevious year. Export of fibre,apparel, home textiles and filamenthas grown in Q1 FY18 ascompared to Q1 FY17, fibre havingthe majority share.
Highest growth wasobserved in exports of fibregrowing at a rate of 48%. Exportsof yarn fell by 11% in Q1 FY18.USAand UAE were the largest exportmarkets for India with a cumulative
share of ~35%. Share of UAEincreased slightly in Q1 FY18.India’s T&A imports increaseddrastically in Q1 FY18
The overall T&A importsin Q1 FY18 was around US$ 1.7bnincreasing significantly at a rateof 23% from the previous year.Imports growth in Q1 FY18 wasprimarily attr ibuted to atremendous increase in fibreimports by 99% over Q1 FY17.However, imports of other majorcategories yarn, home T&Adeclined significantly. Chinacontinues to be the largest importpartner for India. Import share ofUSA has increased significantlyfrom 7% to 13% in Q1 FY18 whileimport share of Bangladeshdeclined from 10% to 4% in Q1FY18.
Q1 FY18.Similarly there was an
increase in cotton yarn andpolyester viscose blended yarnaverage prices growing at a rateof 10% & 11% respectively in Q1FY18. However, polyester cottonblended yarn registered a declineof 9% in the Q1 FY18 comparedto Q1 FY17 on an average.
The above are the findingof Wazir Textile Index (WTI)which comprises cumulativefinancial performance of the topIndian textile companies alongwith update on market
PM dedicates DeendayalHastkala Sankul to NationNEW DELHI, SEPT. 28—
The Prime Minister, Shri Narendra Modi, has dedicated tothe nation, the Deendayal Hastkala Sankul – a trade facilitationcentre for handicrafts – at Varanasi. The Prime Minister had laid thefoundation stone of this Centre in November 2014. This week, hevisited the Centre, and was given an overview of the facilitiesdeveloped there, before arriving on the dais for the dedication.
He described the Trade Facilitation Centre as one of thebiggest projects for Varanasi for a long time. He said this Centrewould help the artisans and weavers showcase their skills to theworld, and facilitate a brighter future for them. He asked the peopleto encourage all tourists to visit this Centre.
He said this would result in increased demand of handicrafts,and also boost the tourism potential of Varanasi, and indeed theeconomy of the city.
The Prime Minister said the solution to all problems isthrough development. He saidthe Government is focused onbringing about positive changein the lives of the poor and ofsucceeding generations. In thiscontext, he praised the effortsof Utkarsh Bank.
Speaking on the occasion,the Union Textiles Minister Mrs.Smriti Zubin Irani said that theMinistry of Textiles is fortunate
Continued on Page 4
TAI – Delhi Unitpromotes
education in textilesBy Our Staff Reporter
MUMBAI, SEPT. 28—The Textile Association
(India) - Delhi Unit has taken greatinitiative to provide Annual Meritcum Means Scholarships tobrilliant students for professionalcourses from different textileinstitutes in the country. Studentswith limited financial means andlower income group will also beconsidered for this Scholarshipslocated in various parts of India.
As decided by theManaging Committee in theirrecent meeting, TAI - Delhi willaward this Scholarship every yearalong with leading industrialgroups and successfulprofessionals. So far 12scholarships of Rs. 25000 eachhave already been confirmed.
Textile Association (India)- Delhi commits itself forproviding high quality educationto all brilliant and needy studentsat various levels. TAI will alsofocus its session towards thegoals said by Indian Governmentsuch as Skill India and manyothers.
PAGE 2. TECOYA TREND, FRIDAY, SEPTEMBER 29, 2017.
TexturisedGREYALOK
INDUSTRIES662/36 SIM 106.0075/34 NIM WEAVING 97.0075/34 NIM KNITTING 100.0080/48 IM 98.0080/72 SIM 98.0080/72 HIM 99.0075/108 SIM 101.0075/108 HIM 102.0075/34 NIM BLACK DD 102.0080/72 HIM BLACK DD 104.00100/36 NIM 94.00100/36 HIM 97.00100/36 HIM BLACK DD 102.00100/108 SIM 99.00100/144 SIM 104.00150/48 NIM 87.00150/48 HIM 89.00150/300 TWISTED 106.00150/300 TWISTED BLK 111.00150/48 NIM BLACK DD 92.00150/48 HIM BLACK DD 94.00150/48 IM BLACK DD 93.50
RELIANCERIL - PSF
0.8 Semi Dull 91.651.0 Semi Dull 89.001.2 Semi Dull 82.251.4 Semi Dull 87.502.0 Semi Dull 87.501.2 Super HT Brt 92.901.2 S HT (OW) 96.601.2 Optical White 92.901.2 Super Black 103.701.4 Super Black 102.70Tow Normal 103.20Tow TBL 113.00Tow Super Black 117.652.0/2.5 TBL 90.70
RIL - POYBasic Price
(Plus GST @ 18%)126/34 SD 84-00122/72 SD 85-75250/48 SD 77-0051/14 SD 95-00160/72 Brt 84-50235/72 Brt 80-25
RIL - PTYEx-Factory BasicPrices (Freight
and GST @ 18% Extra)75/34 SD HIM 100-0075/34 SD NIM 97-25155/48 SD HIM 91-00155/48 SD NIM 89-5081/72 FD HIM 105-0081/72 CD IM 119-0075/108 IM 106-50
RIL - FDYCarton Ex-Factory
Basic Prices(Freight & GST@ 18% Extra)
70/36 SD 86-2549/24 SD 92-0050/36 Brt 95-7575/36 Brt 86-00150/48 Brt 81-00
BOOKS OF YOUR INTERESTSR. NO. AUTHOR NAME OF BOOK PRICE
51 LEE PRINTING ON TEXTILE BY DIRECTAND TRANSFER TECHNIQUES (NDC) Rs.-0600.00
52 LORD WEAVING CONVERSION OF YARN TO FABRIC Rs.-0800.0053 MOORTHI NONWOVEN Rs.-0700.0054 MANDAL GEOSYNTHETIC WORLD Rs.-0350.0055 MARSH AN INTRODUCTION TO TEXTILE BLEACHING Rs.-0250.0056 MARSH TEXTILE SCIENCE (SH) SPECIAL PRICE Rs.-0100.0057 MARSH AN INTRODUCTION TO TEXTILE FINISHING Rs.-0250.0058 McKELVEY FASHION FORECASTING Rs.-0995.0059 MERILL COTTON COMBING Rs.-0200.0060 MERILL COTTON DRAWING AND ROVING Rs.-0200.0061 MERILL COTTON OPENING AND PICKING Rs.-0200.0062 MERILL COTTON RING SPINNING Rs.-0200.0063 MERILL COTTON CARDING Rs.-0200.0064 MITTAL POLYMIDES $.- 0250.0065 NANAL HIGH SPEED SPINNING OF POLYESTER AND
ITS BLENDS WITH VISCOSE Rs.-0450.0066 NIIR "COMPLETE TECH BOOK ON TEXTILE PROCESS
“ EFFLUENT TREATMENT" Rs.-1000.0067 NIIR "COMPLETE TECH BOOK ON TEXTILE
SPINNING WEAVING, “FINISHING & PRINTING" Rs.-1100.0068 NIIR HANDBOOK ON NATURAL DYES FOR INDUSTRIAL Rs.-1100.0069 NIIR HANDBOOK ON NATURAL DYES FOR
INDUSTRIAL(APPLICATIONS) Rs.-1100.0070 NIIR FASHION TECHNOLOGY HANDBOOK Rs.-0325.0071 NIIR DRUGS AND PHARMACEUTICAL TECH HANDBOOK Rs.-1075.0072 NIIR COMPLETE BOOK ON NATURAL DYES AND PIGMENTS Rs.-1100.0073 NIIR MODERN TECHNOLOGY OF TEXTILE DYES AND PIGMENTS Rs.-1100.0074 NIIR COMPLETE TECH BOOK ON DYES Rs.-1100.0075 NIIR NATURAL FIBRES HANDBOOK WITH CULTIVATION & USES Rs.-1275.00
For more Details Write :
TECOYA INFOTECHD-66, Oshiwara Industrial Centre, Ground Floor,
Goreagon (West), Opp. Bus Depot, Mumbai 400 104.Phone : 22-66978535 Fax : 22-28793022 E-Mail : [email protected]
Art-SilkEX-BHIWANDI
EXCLUDING GSTCENTURY RAYON
60 Brt 550-0075 Brt 479-00100 Brt 388-00120 Brt 364-00150 Brt 341-00225 Brt 281-00300 Brt 268-00450 Brt 236-00600 Brt 232-00
INDIAN RAYON60 Brt 550-0075 Brt 479-00100 Brt 388-00120 Brt 364-00150 Brt 341-00225 Brt 281-00300 Brt 268-00450 Brt 236-00600 Brt 232-00
ANJANEYA40s Excel ----
MOTHI SPINNERS20s viscose 19630s viscose 21230s Vortex 228 40s viscose 238
VISCOSEPALLAVAA
30/1 Viscose RS 24230/1 Viscose LLT 24230/1 Mod/Cot 60/40 27730/1 CVC 60C/40LongLas 28830/1 PC 65/35 0LongLaast 20660/1 Lenzing Micro Modal 430
2.40s Viscose 254VSF - 100%
30's KPN -----MODAL
40's PKPN -----COTTTON/MODAL
30's JPP -----
150/108 SIM 89.00150/108 HIM 90.00300/72 NIM 86.00300/72 IM 87.50300/72 HIM 88.00320/72X2 HIM 89.00450/96 HIM / SIM 90.00300/96 NIM BLACK DD 90.00300/96 HIM BLACK DD 92.00300/96 IM BLACK DD 91.50300/96X2 HIM BLACK DD 93.00300/96X2 IM BLACK DD 92.50220 EASY 116.00360/73/1 EASY YARN 112.00330/73/1 EASY YARN BLACK 122.00100/72 HIM SBR 105.00150/48 HIM SBR 95.00300/144 SIM SBR 90.00300/144 SIM SBR BLACK DD 96.00300/144X2 SIM SBR 91.00425/192 SIM SBR 92.50450/192 SIM SBR 92.00MIX YARN JOB LOT 60.00MIX YARN Black DD JOB LOT 66.00
WELLKNOWN80/108/MICRO 106-0080/34/ ROTO 101-0080/72/ CATONIC 118-0080/72/ D CAT 119-0080/72/FD ROTO 108-0080/72/D/FDRO 108-0080/34/BL ROTO 108-00
National Textile Corporation
JB Ecotex LLPRecycled HT PSF (Ex-factory / All taxes extra)1.4 DENIEROff White 75-00Milky White 77-00Black 83-00
1.2 DENIEROff White 77-00Milky White 79-00Black 85-00
(EX-MILL RATE IN KG)MAHARASHRA REGION
Grey CottonYarn on Cone
40 Carded (Auto Cone) 187-0044 Carded (Auto Cone) 198-0060 Carded (Auto Cone) 223-70 to 225-6540 Carded (Compact - AC) 190-05 to 192-0050 Carded (Compact - AC) 209-5060 Carded (Compact - AC) 229-8060 Combed (Compact - AC) 268-25
100% Polyester Yarn50 100% Poly 145-45 to 147-2060 100% Poly 151-15 to 151-9562 100% Poly 151-90 to 153-8065 100% Poly 153-90 to 155-7576 100% Poly 171-00
Grey BlendedPolyester Cotton Yarn
30 PC (67/33) 131-2045 PC (70/30 - Auto Cone) --------48 PC (67/33 Auto Cone) 150-1050 PC (67/33 Auto Cone) 153-1054 PC (70/30 Auto Cone) 156-4554 PC (67/33 Auto Cone) 153-8560 PC (67/33 Auto Cone) 158-6572 PC (70/30 Auto Cone) 180-25
100% Polyeser Yarn (High Twist)45 Poly HT (TPI 35 Auto Cone) 153-9050 Poly HT (TPI 38 Auto Cone) 163-5060 Poly HT (TPI 38 EYC) 184-4570 Poly HT (TPI 38 Auto Cone-EYC) 192-00
Polyeser Cotton Yarn (High Twist)62 PC Comb 70:30 (HT TPI 40 Auto Cone) 206-40
GUJARAT REGIONGrey CottonYarn on Cone
40 Carded (Auto Cone) 186-0058 Carded (Compact - Auto Cone) 224-5040 Carded (Compact - Auto Cone) 192-5050 Carded (Compact - Auto Cone) 210-0060 Carded (Compact - Auto Cone) 231-4530 Combed (Hosiery - Auto Cone) 194-00
MADYA PRADESH REGIONGrey CottonYarn on Cone
27 Carded (Auto Cone) 173-0032 Carded (Auto Cone) 180-0036 Carded (Auto Cone) 182-0038 Carded (Auto Cone) 184-00 to 186-0042 Carded (Auto Cone) 191-00 to 192-0044 Carded (Auto Cone) 193-00 to 194-00
46 Carded (Auto Cone) 204-00 to 206-0018 Carded (Auto Cone) - SLUB 155-0027 Carded (Auto Cone) - SLUB 178-00
100% POLYESTER YARN36 100% POLY (Auto Cone) - SLUB 139-3036 100% POLY (Auto Cone) 136-0038 100% POLY (Auto Cone) 138-3046 100% POLY (Auto Cone) - SLUB 152-3050 100% POLY (Auto Cone) 148-30
GREY BLENDEDPOLYESTER COTTON YARN
28 PC (45/55 Auto Cone) 155-0028 PC (70/30 Auto Cone) 131-2034 PC (65/35 Auto Cone) 149-2036 PC (65/35 Auto Cone) 138-7040 PC (55/45 Auto Cone) 162-7040 PC (70/30 Auto Cone) 142-2045 PC (70/30 Auto Cone) 154-2054 PC (70/30 Auto Cone) 161-20 to 162-2060 PC (80/20 Auto Cone) 171-3062 PC (70/30 Auto Cone) 172-0018 PC (70/30 Auto Cone) SLUB 123-2036 PC (70/30 Auto Cone) SLUB 148-20
POLYESTER VISCOSE YARN27 PV (65/35 Auto Cone) 150-5028 PV (65/35 Auto Cone) 147-5038 PV (65/35 Auto Cone) 160-5040 PV (65/35 Auto Cone) 161-5036 PV (65/35 Auto Cone) SLUB 166-5052 PV (65/35 Auto Cone) 184-5053 PV (65/35 Auto Cone) SLUB 196-5040 PV (65/35 Auto Cone) SLUB 148-50
POLYESTER POLYESTER YARN (HT)42 Poly HT (TPI 35 Auto Cone) 146-30
WEST BENGAL REGIONGrey Cotton
Yarn on Cone40 Carded Hosiery (Auto Cone) 181-6040 Carded Hosiery (Non-Auto Cone) 181-60
80/72/BL ROTO 109-0080/72/DB BL RO 109-0080/72/ ROTO 104-0075/36 NIM 98-0075/36 HIM 101-0075/108/MICRO 106-00150/288/MICRO 99-00100/144/MICRO 106-00150/48/BL ROTO 96-00150/48/ROTO 92-00
150/48/DB ROTO 93-00150/108/MICRO 99-00150/48/NIM 90-00320/72/LIM 89-00320/72/ROTO 91-00300/72/BL ROTO 94-00130/DEN HM/GK 119-00160/DEN DISCAT 109-0080/108 MIC TW 128-0080/34/ROTO TW 123-0080/72/FD TW 130-0080/72/D FD TW 130-0080/72/CAT TW 140-0080/72/D CAT TW 141-0080/72/B TW 131-0080/72/D BL TW 131-00150/48 RO TW 110-0075/72 SIM 102-00
V. P. Tex PriVate LimitedSpinners & Weavers
Fabric Construction 47” Ex Mill 54” Ex Mill 63” Ex Mill Price /Mt Price /Mt Price /Mt
30/30 68/62 140G Plain Rayon 37 46 5130/30 68/48 120G Plain Rayon 34 41 4630/30 56/42120G Rayon Creap N/A 36 4230/30 68/48 140G Rayon Creap N/A 42 4830/30 92/60 Rayon Twill 48 N/A 6140/40 92/72 Plain Rayon N/A N/A 5760/60 92/80 Plain Modal 47 N/A 612/40 x 20 56/52 155G Rayon Twill 50 N/A 682/40 x 20 72/54 190G Rayon Twill 59 N/A 8130/30 140G Rayon Slub/Rayon Slub 43 N/A 6160/60 92/80 Modal Slub/Modal Slub N/A N/A 7560/60 165/80 Modal Satin 73 N/A 9660/60 132/90 Modal Moss N/A N/A 9030/30 68/60 Rayon Moss 46 N/A 5630/30 68/60 Dot Dobby N/A N/A 5660/60 92/80 Modal Moss 57 N/A 6960/60 92/80 Modal Dot Dobby 57 N/A 7060/60 Modal Creap N/A N/A 702/40 x 20/56/44 Cotton Flax 38 45 612/40 x 20/56/44 Rayon Flax 43 N/A 652/40 x 12/56/36 Cotton Flax 44 N/A 642/40 x 12/56/44 Cotton Flax 50 N/A 7020F/20F(30:70 Flax:Cotton) N/A N/A 7012F/20F 55 N/A N/A30/44lea/68/44 Cotton Line N/A N/A 1302/40 x 44lea/56/44 Cotton Line 110 N/A 14530/(44+20) Pick/Pick N/A N/A 9544/44 48/44 185 N/A 225Price Mentioned are for a MOQ of 10000 mts +
Disclaimer: All prices/rates informationprovided in TecoyaTrend is provided forinformation purposesonly and are onlyindicative. Althoughevery reasonable effortis made to presentcurrent and accurateinformation, TecoyaTrend takes noguarantees of any kindof the published prices/rates. In no event shallTecoya Trend be heldresponsible or liable,directly or indirectly, forany prices/ratesprovided in thenewspaper.
Cotton Yarn Prices : Prices FOB Indian Port / LC at Sight:Ne 30/2 Carded Hosiery Yarn USD 3.25/Kg.Ne 32/2 Combed Knitting Yarn USD 3.47/Kg.Ne 32/2 Carded Hosiery Yarn USD 3.30/Kg.Ne 40/2 Combed Hosiery Yarn USD 3.92/Kg.Ne 30/1 Combed Compa Wg Yarn USD 3.17/Kg.Ne 40/1 Combed Compa Wg Yarn USD 3.47/Kg.Ne 50/1 Combed Compa Wg Yarn USD 4.03/Kg.Ne 16/1 Open End Yarn USD 2.02/Kg.Ne 21/1 Open End Yarn USD 2.20/Kg.Ne 24/1 Open End Yarn USD 2.45/Kg
Ne 20/1 Carded Hosiery Yarn USD 2.55/Kg.Ne 20/1 Combed Hosiery Yarn USD 2.83/Kg.Ne 21/1 Carded Weaving Yarn USD 2.57/Kg.Ne 26/1 Combed Hosiery Yarn USD 2.97/Kg.Ne 30/1 Carded Hosiery Yarn USD 2.77/Kg.Ne 30/1 Combed Hosiery Yarn USD 3.05/Kg.Ne 32/1 Carded Weaving Yarn USD 2.80/Kg.Ne 34/1 Combed Hosiery Yarn USD 3.17/Kg.Ne 40/1 Combed Hosiery Yarn USD 3.37/Kg.Ne 40/1 Carded Weaving Yarn USD 3.23/Kg.
LONGLASST (VORTEX)PILLING FREE Yarns inVISCOSE, MICROMODAL,TENCEL, PV,PC &CORE SPUN [email protected]: +91 90470 26711
GREY CLOTHPEE VEE TEXTILES LTD.
VSM Weaves India - Tamil NaduAir Jet Grey Woven Fabrics (Ex-Mill Rate)
KEN ENTERPRISESIchalkaranji (prices excluding GST)
Quality Weave Composition Ex-Mill Rate/Meter
100s x 100s / 227 x 150 - 63" 4/1 Satin 100% Cotton 142.00100s x 100s / 92 x 88 - 63" 1/1 Plain 100% Cotton 62.2580s x 80s / 170 x 120 - 63" 1/1 Plain 100% Cotton 86.2580s x 80s / 92 x 88 - 63" 1/1 Plain 100% Cotton 48.5070s x 90s / 92 x 104 - 63" 1/1 Plain 100% Cotton 59.0060s x 60s / 92 x 88 - 63" 1/1 Plain 100% Cotton 48.0060s x 60s / 92 x 88 - 67" 1/1 Plain 100% Micro-Modal 69.75
30Viscose x 30Viscose 68 x 64 63" 1/1 Plain - Rs. 52/Mtrs30Viscose x 30Viscose 68 x 64 48" 1/1 Plain - Rs. 41/Mtrs30Viscose x 30Viscose 92 x 64 63" 2/2 Twill - Rs. 61/Mtrs60Micro modal x 60Micro modal 92 x 84 63" 1/1 plain Rs. 69/Mtrs50Micro modal x 50Micro modal 92 x 84 63" 1/1 plain Rs. 75/Mtrs
100 % Cotton Fabric (All Combed Compact Yarn)Sr. No Quality Weave Width(inches) Exmill Rate + GST/Mtr1 40 x 40 / 124 x 94 1/1 63" - Rs. 70.002 60 x 60 / 92 x 88 1/1 63" Rs. 52.003 40 x 40 / 130 x 73 2/1 67" Rs. 68.00
100 % BCI Cotton Fabric (All Combed Compact Yarn)1 40 x 40 / 124 x 94 1/1 63" Rs. 73.002 60 x 60 / 92 x 88 1/1 63" Rs. 55.003 40 x 40 / 130 x 73 2/1 67" Rs. 71.00
100 % Organic Cotton Fabric1 40 x 40 /124 x 70 1/1 63" Rs. 69.002 40 x 40 / 132 x 72 1/1 63" Rs. 73.00
100% Viscose fabric1 40 x 40 / 96 x 80 1/1 63" Rs. 61.002 30 x 30 / 68 x 64 1/1 63" Rs. 52.00
Poly Cotton fabric(Blend 65:35)1 40 PC x 40 PC / 100 x 84 1/1 63" Rs. 56.002 45 PC x 45 PC / 112 x 72 1/1 63" Rs. 54.003 40 PC x 40 PC / 100 x 84 1/1 38" Rs. 36.00
Stretch Fabric1 30 x 20 Ly / 160 x 90 Dobby 73" Rs. 132.002 30 x 20 + 20 Ly / 130 x 684/1 74" Rs. 93.503 30 x 20 + 20 Ly / 120 x 76Dobby 73" Rs. 99.00
TECOYA TREND, FRIDAY, SEPTEMBER 29, 2017, PAGE 3.
TEXTILE WORLDMUMBAI
Dear Readers,Kindly note tprices quoted in Tecoya Trend are pre-GST ones. Weare slowly moving to the quotations of Post GST Prices and willkeep you updated in the respective price section when we startquoting Post GST prices. - Editor
ALL PRICES ARE EX-MILL(GST FOR FABRIC AND TERRY : 5% )
DRILLCount Constr Width GSM Wt/mtr Weave INR oz
uction Price7 x 7 68 x 38 63" 390 0.624 Drill 91.00 11.58 x 6 56 x 36 63" 340 0.548 2/2 Twill 80.00 10.010 x 8 68 x 42 63" 310 0.496 Drill 77.50 9.110 x 8 72 x 46 63" 334 0.534 Drill 85.50 9.810 x 10 44 x 40 63" 216 0.346 2/2 Drill 58.00 6.410 x 10 68 x 38 63" 275 0.437 Drill 67.50 8.110 x 10 68 x 38 67" 275 0.464 Drill 72.00 8.110 x 10 68 x 42 63" 283 0.453 Drill 73.25 8.310 x 10 68 x 52 63" 309 0.494 Drill 85.00 9.110 x 10 68 x 58 63" 325 0.507 Drill 90.00 9.610 x 16 76 x 36 63" 257 0.41 Drill 69.00 7.616 x 10 120 x 48 67" 317 0.540 Drill 95.00 9.316 x 12 96 x 48 63" 258 0.413 Drill 71.75 7.616 x 12 96 x 48 67" 258 0.440 Drill 80.25 7.616 X 12 96 X 48 72" 258 0.472 Drill 86.25 7.616 x 12 96 x 48 80" 258 0.523 Drill 96.00 7.616 x 12 108 x 56 63" 295 0.471 Drill 84.50 8.716 x 12 108 x 56 67" 295 0.500 Drill 92.50 8.716 x 12 108 x 56 72" 295 0.537 Drill 99.25 8.716 x 16 96 x 48 67" 232 0.394 Drill 74.00 6.820 x 10 96 x 48 63" 247 0.395 Drill 72.25 7.320 x 16 108 x 56 63" 230 0.367 Drill 69.00 6.820 x 20 96 x 48 66" 185 0.31 Drill 62.25 5.420 x 20 96 x 48 72" 185 0.339 Drill 67.75 5.420 x 20 108 x 56 48" 211 0.257 Drill 54.25 6.220 x 20 108 x 56 54" 211 0.289 Drill 61.50 6.220 x 20 108 x 56 63" 212 0.338 Drill 65.00 6.220 x 20 108 x 56 67" 212 0.359 Drill 69.00 6.220 x 20 108 x 56 72" 212 0.380 Drill 73.00 6.220 x 20 108 x 56 78" 211 0.418 Drill 84.00 6.220 x 20 88 x 68 63" 200 0.32 Drill 68.00 5.932 x 32 124 x 64 63" 151 0.242 Twill 68.75 4.432 x 32 132 x 72 63" 164 0.262 Twill 79.25 4.8
Activewear sales - A natural solutionWith the many stories touting the strength of athleisure apparel
mixed with the aisles of workout apparel in stores, it may come as asurprise that consumers spent less on activewear last year than inprevious seasons. Interestingly, though, they actually increased theiroverall activity levels in the U.S. While manufacturers may bequestioning what is happening at retail, they might consider thefibers being used just aren’t what the consumer is seeking.
The Physical Activity Council tracks sports, fitness, andrecreation participation in the U.S. It found that in 2016, most sportcategories saw an increase in participation, with fitness and teamsports seeing the biggest gains. The report found inactivitydecreased 0.2 percent. However, the report found spending on sportsequipment, apparel, and footwear decreased, from 44 percent ofparticipants who made purchases in 2015 to 42.8 percent in 2016.
Over the years, the activewear industry has made a big shifttoward synthetics. Manufacturers promoted performancetechnologies meant to keep the wearer cooler and drier, so theycould improve their workout. But the pieces often came with asignificantly higher price tag than styles made of natural fiber. At thesame time, a style shift has been occurring among consumers —they began to embrace athleisure apparel, and often worked casualpieces like yoga pants, joggers, and hoodies into their everydaywardrobes. Often enough, these pieces could be worn for a trip tothe gym or a trip to the mall.
Despite the changing style trend and the new performancetechnologies, The Atlantic reports that total consumer spending onapparel has decreased by 20 percent this century. Meanwhile, a reportby Technopak states that the current global demand for fiber andyarn is split into about 41 percent for cotton and other natural fibersand 59 percent for man-made fibers. The report points out that makerslike that man-made fibers can more easily be tweaked than naturalfibers, which reduces investment costs.
While that may seem to be good for a manufacturer’s bottomline, it doesn’t make any difference if consumers aren’t buying it.The Cotton Incorporated Retail Monitor™ Survey find U.S. retailersare continuing to rely on discounts overall to drive traffic to theirstores and get customers to spend. The survey found that a fewyears ago, the gap between sale offerings in non-active apparelcompared to active apparel was much larger than it was today. Today,the majority of activewear is offered on sale, up from 39 percent afew years ago.
Perhaps manufacturers should consider that in general, 81percent of consumers say cotton is their favorite fabric to wear,according to the Cotton Incorporated Lifestyle Monitor™ research.Beyond that, 77 percent feel better quality garments are made fromall natural fibers such as cotton, and 66 percent of shoppers arewiling to pay more for clothes made from natural fibers.
In an effort to appeal to this consumer preference, a lot ofmanufacturers have introduced activewear whose fabrics mimic thelook and feel of natural fibers like cotton, but whose price pointsreflect a technical piece of apparel. However, while 65 percent of
consumers strongly agree that the price of apparel has increasedfrom a year ago, according to Monitor™ data, 53 percent are botheredthat brands and retailers would substitute manmade fibers for cottonin their T-shirts.
Consumers have various reasons for their cotton preference.They say that compared to synthetics, it’s the most sustainable (84percent), soft (81 percent), comfortable (80 percent), authentic (80percent), trustworthy (79 percent), and durable (66 percent) accordingto Monitor™ data. And when they buy activewear, tech features areactually secondary to comfort (70 percent), fit (65 percent), quality(62 percent), durability (59 percent), washing clean (58 percent), andprice (57 percent), according to the Cotton Incorporated ActivewearStudy.
While tech features might be secondary, consumers areinterested in such characteristics. Compared to synthetics, consumerssay they would likely purchase cotton activewear that has thermalwarming (55 percent), is odor resistant (52 percent), and isantimicrobial or antibacterial (50 percent), according to Monitor™data.
Cotton Incorporated offers two technologies that aid inmoisture management: TransDRY® and WICKING WINDOWS™. Anumber of companies are using the technologies, including UnderArmour (Charged Cotton), Eddie Bauer (FreeDry), and The NorthFace (FlashDRY).
When it comes to odors and bacteria, studies have shown it’sthe apparel’s fiber that makes the difference.
A BBC series called “Trust Me, I’m A Doctor” looked at twostudies — from the University of Alberta and the University of Ghent,that found synthetics become smellier after use than natural fibers.The show then ran its own experiment that involved cotton T-shirts,synthetic tees, and a spin cycle class. Afterward, two professorsfrom the University of Manchester found up to 300 types of bacteriainhabiting the volunteers’ armpits. However, neither shirt absorbedthese bacteria. Instead, a University of Alberta study showed cottonfibers absorb moisture, including smelly compounds produced bybacteria. This gets pulled into the fibers away from the wearers’noses. But synthetic fibers don’t absorb moisture. They “hang onto the ‘oily soils’ from our sweat, which sit on the surface of thefibers, waiting to be guzzled by whatever odor-producing bacteriahappen to come along.”
Dr. David Pascoe tests workout gear for Auburn University’ssports teams in his Thermal Lab. He feels there is only so muchinfluence a garment can have on an athlete’s body temperature. In aSlate magazine article, he stated cotton is still a “very good fabric”for activewear. His assessment: cotton is lightweight, doesn’t irritatethe skin, breathes well, can take repeated washings withoutdeteriorating and is extremely cheap, especially compared to priceyperformance apparel.
And if traditional cotton was paired with the latest performancetechnologies, makers might find the solution to discounting theiractivewear selection.
I-T dept fastens belt to add 1.25 crnew tax filers this fiscal
NEW DELHI, SEPT. 28—The Income Tax
Department has been tasked toadd 1.25 crore new return filers inthe current financial year as partof the government’s plan to widenthe tax base in the country.
The Central Board of DirectTaxes (CBDT), that makes policydecisions for the I-T department,has directed the taxman toundertake “focused efforts tosignificantly increase the tax basein the current financial year of2017-18.”
The target, the CBDTdirective accessed by PTI said,is to add 1.25 crore new I-T returnfilers. A new I-T return filer isdefined as a person who has notfiled return in the previous yearsbut is liable to do so under thelaw. The taxman has to add such
entities and get them do the filingof their I-T returns.
The Hyderabad and thePune regions of the departmenthave been given the highesttargets to add 12.8 lakh and 11.8lakh new filers respectively.
They are followed byChennai with 10.47 lakh new filersand Chandigarh at 10.41 lakhfresh filers.
The plan to widen the taxbase in the country was alsodiscussed and finalised duringthe recently concluded ‘RajswaGyansangam’ conference of topI-T officials held here.
The CBDT, in an officialstatement, had said during theconference “strategiesing of taxbase were discussed in detailwith special focus on verificationof data collected during
demonetisation and statement offinancial transactions (SFT).”
“The CBDT aims to add asizeable number of new taxpayersin the current fiscal. It wasdirected that special focus begiven to popularise the OperationClean Money portal such that anenvironment of voluntarycompliance can be created,” it hadsaid.
As per official data, thetotal number of all returns(electronic + paper) filed duringthe financial year 2016-17 was5.43 crore, 17.3 per cent more thanthe returns filed during the 2015-16 fiscal.
Similarly for fiscal 2016-17(till June 30), 1.26 crore newtaxpayers (return filers + non-filers making tax payments) wereadded to the tax base.
Sensex recovers123 points
MUMBAI, SEPT 28—The BSE Sensex today
recovered by almost 123 pointsas buying by domestic investorsin banking, pharma, metal andrealty stocks after recent fallshelped the index break its seven-session falling streak.
After a better opening at31,216.36, the Sensex quicklyslipped into the negative zoneand hit a low of 31,081.83 inmorning session as foreign fundscontinued to withdraw capital.
Emergence of value-buying in afternoon trade wipedoff early losses and the Sensexsettled higher by 122.67 points,or 0.39 per cent, at 31,282.48.During the day, it also touched ahigh of 31,340.91.
The 50-share NSE Niftyended up 33.20 points, or 0.34 percent, at 9,768.95 points. Intra-day,it shuttled between 9,687.55 and9,789.20. Since it was the lastsession for Septemberderivatives contracts,speculators went about coveringtheir short positions towards theclose which accelerated the paceof recovery.
In the September expiry,Sensex plunged by 448.01 points,or 1.41 per cent and Nifty tumbled202.95 points, or 2.03 per cent.
A mixed trend in Asia and ahigher opening in Europe after theUS stocks recovered followingsweeping tax reforms planunveiled by President DonaldTrump influenced sentiment here.
GST mop-up worries misplaced; but still is -ve on mktsMUMBAI, SEPT. 28-(PTI)
With the ongoingcorrection in the marketsindicating a possible investoruneasiness over the shortfall inGST revenue, a foreign brokeragetoday said such concerns arepremature and full-year taxcollections could still be in linewith the budgeted target.
“Our calculations ofpotential monthly GST revenuein FY18, assuming 8 per cent year-on-year growth and seasonalityof monthly indirect tax revenue,suggest that GST collection is
tracking just fine,” Swissbrokerage UBS Securities said ina report today.
The report further said,“while we’ve been more cautiousthan most investors over the lastthree years on the recovery ingrowth and earnings, we believethe concern over a big revenueshortfall is overdone.”
UBS noted that about Rs65,000 crore of tax refundsclaimed by exporters post-GSTare reportedly pending, raisingconcerns that actual GST revenuemay be lower than the Rs 95,000
crore reported.The government has
clarified that for 66 per cent of thevalue of exports, exporters optedfor the ‘duty drawback scheme’(they did not pay taxes on inputs)instead of refund mechanism,which implies no blockage ofworking capital.
The remaining exportersused the refund mechanism, butthe waiting period may initially belonger under GST, hurting near-term exports due to workingcapital issues.
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PAGE 4. TECOYA TREND, FRIDAY, SEPTEMBER 29, 2017.
Prices firmBy Cotton Man
MUMBAI, SEPT. 28—The cotton prices maintained a firm trend amid good buying
conditions. Quality Rate Arrival in
BalesState Wise
NORTH ZONE (RATES IN MAUND) - NEW CROPPunjab J-34 S/G Crop 3845 / 3855 J-34 R/G Crop 3875 / 3885 5000
Haryana J-34 S/G Crop 3840 / 3850 J-34 R/G Crop 3870 / 3880 8500
Rajasthan J-34 S/G Crop 3835 / 3845 J-34 R/G Crop 3865 / 3875 1500
CENTRAL ZONE (RATES IN BALES) Gujarat
V-797 (Kalayan) 22mm 27000 / 28000New Crop - S/6 B-Grade 37500 / 38500
S/6 28 mm B Grade 39000 / 39500S/6 29 mm A-Grade 40000 / 40500 3500
MaharashtraNew Crop - MECH 1 37000 / 38500
MECH 1 - 29 mm 3.8 mic 40500 / 41000MECH 1 - 30 mm 3.8 mic -----------------
MECH 1 - 31 mm 4.0 mic 42000 / 42500 6000
Madhya Pradesh New Crop - MECH - 1 37000 / 38500
MECH -1 29 mm 3.8 mic 40500 / 41500 MECH - 1 30 mm 3.8 mic -------------------
DCH-32 33-35 mm 55000 / 56500 5000
SOUTH ZONE (RATES IN BALES) Andhra Pradesh
MECH - 1 (Adil) 29-30mm 40500 / 41500 Bunny / Brahma (Wara)29-30 mm 40500 / 41500 MCU-5 (Guntur) 30/31 mm 41500 / 42500 NIL
KarnatakaMECH-1 29 3.8 mic 40000 / 40500
Bunny / Brahma 30/31mm 40500 / 41000 DCH-32 34-35mm 55500 / 57000 NIL
Total Arrivals 29,500
State Grade Staple Mic Per CandyP/H/R ICS-101 Below 5.0-7.0 34400
22mmP/H/R ICS-201 Below 5.0-7.0 35100
22mmGUJ ICS-102 22mm 4.0-6.0 27500KAR ICS-103 23mm 4.0-5.5 32200M/M ICS-104 24mm 4.0-5.5 35000P/H/R ICS-202 26mm 3.5-4.9 36600M/M/A ICS-105 26mm 3.0-3.4 33500M/M/A ICS-105 26mm 3.5-4.9 34400P/H/R ICS-105 27mm 3.5-4.9 37200M/M/A ICS-105 27mm 3.0-3.4 34700M/M/A ICS-105 27mm 3.5-4.9 35500P/H/R ICS-105 28mm 3.5-4.9 37400M/M/A ICS-105 28mm 3.5-4.9 37800GUJ ICS-105 28mm 3.5-4.9 37800M/M/A/K ICS-105 29mm 3.5-4.9 38900GUJ ICS-105 29mm 3.5-4.9 38800M/M/A/K ICS-105 30mm 3.5-4.9 39900M/M/A/K/T/O ICS-105 31mm 3.5-4.9 40900K/A/T/O ICS-106 32mm 3.5-4.9 43000M(P)/K/T ICS-107 34mm 3.0-3.8 51500
U.S. Futures Daily Cotton Market27 September 2017
Contract Open * High Low Close * Settle ChangeOct '17 0 0 0 0 69.28 -0.10Dec '17 68.90 69.10 68.18 68.72 68.65 -0.10Mar '18 68.00 68.25 67.45 67.88 67.79 -0.10May '18 68.39 68.74 68.09 68.32 68.34 -0.09Jul '18 68.70 69.14 68.80 68.94 68.83 -0.11*Open and Close prices reflect the first and last trade in themarket and do not correlate to any opening or closing period
COTTON ASSOCIATION OF INDIA
Indian Cotton Federation( Per Candy-2015-16 Crop)
V-797 28000Jayadhar -------J-34 (RG) 41444MECH-1/H-4 42000
Sankar-6 41800MCU-5 44500DCH-32 57500MECH 42200
Printed, Published and Edited by Rakesh L. Sharma on behalf ofTECOYA TREND PUBLICATIONS PVT. LTD. from D-66, Oshiwara
Industrial Centre, Andheri Malad Link Road, Mumbai 400 104 andPrinted at TECOYA TREND PUBLICATIONS, D-66, Oshiwara
Industrial Centre, Andheri Malad Link Road, Mumbai 400 104Registered with Office of the Registrar of Newspaper for India
Registration Number: 20682/1970
that the Rs. 300 crore Deendayal Hastkala Sankul has been dedicatedto the nation by the Prime Minister, on the auspicious occasion ofNav Durga.
The Minister recalled that the foundation stone of the Sankulwas laid by the PM on 7th November, 2014 and that the first phasewas inaugurated by the PM on 22nd December, 2016. She said thatthe dedication of the Sankul today is a demonstration of theleadership of the Prime Minister. She said that it will help increasethe earnings of weavers and artisans, and help better showcase theirproducts to the world.
The Textiles Minister said that Government wants everymember of the families of weavers and artisans to be able to fulfiltheir dream of acquiring good education. She informed that towardsthis, the Ministry of Textiles has entered into MoUs with IndiraGandhi National Open University (IGNOU) and National Institute ofOpen Schooling (NIOS), whereby children of weavers and artisansare able to avail school and university education, with 75% of feesbeing borne by the Government of India.
Speaking about the success of the MUDRA scheme, theMinister said that beneficiaries receive security-free loans rangingfrom 50,000 rupees to 10 lakh rupees under the scheme. She said thatmore than 33,000 weavers have benefited by MUDRA scheme,receiving loans worth more than 170 crore rupees. She added thatweavers receiving MUDRA loans have been able to increase theirincome by more than 50% within just two months. The Minister saidthat the Government will reach out to artisans across the country, inorder to provide them benefits of MUDRA loans and other facilities.
The Governor of Uttar Pradesh, Mr. Ram Naik; the ChiefMinister of Uttar Pradesh, Mr. Yogi Adityanath; and Minister ofState, Textiles, Mr. Ajay Tamta were other dignitaries present on theoccasion.A Brief on Deendayal Hastkala Sankul
The Finance Minister in the Budget 2014-15 had announcedsetting up of a Trade Facilitation Centre and a Crafts Museum todevelop and promote handlooms, handicrafts and silk products ofVaranasi and to provide necessary help to weavers, artisans andentrepreneurs of Varanasi in strengthening their marketing activitiesin domestic as well as international markets and in carrying forwardthe rich tradition of handlooms at Varanasi.
A Trade Facilitation Centre is an indispensable step to help
Messe Frankfurt acquires Source Africa andATF Apparel & Textile Exhibition Capetown
From Tecoya NewsDeskMUMBAI, SEPT. 28—
Source Africa and ATF, two of Africa’s largest textile, appareland footwear shows, have been acquired by Messe Frankfurt SA, asubsidiary of Messe Frankfurt, one of the world´s leading trade showorganizers with operations in more than 50 countries and over 134trade fairs worldwide. Since its inception in 2013, Source Africa hasbeen growing constantly and has become the most important annualpan-African textile, clothing and footwear trade event on theinternational calendar. 2018 will mark the 6th edition of the event.Source Africa and ATF are founded and currently organized by tradeshow organizer LTE.
This acquisition will supplement Messe Frankfurt’s currentportfolio of textile related trade shows under the umbrella of‘Texpertise Network’. With more than 50 shows worldwide, coveringthe entire textile value chain, Messe Frankfurt is the market leader inorganizing events for the textile industry.
“We believe that Messe Frankfurt South Africa possesses theresources, skills and experience, globally and with the help of ourTexpertise Network, to grow these events further” says Konstantinvon Vieregge, CEO of Messe Frankfurt SA. He adds: “We arehonoured that LTE has selected us as preferred partners, and lookforward to working with them to ensure we take both events to a newlevel. Messe Frankfurt South Africa is committed to ensuring thegrowth of these industries in SA, and wants to expose South Africa’spotential to the rest of the world.”
William Scalco, Member at LTE explains: “The primary reasonfor Source Africa and ATF is to promote African made apparel, textilesand footwear and to encourage interaction between internationaland regional buyers, manufacturers and suppliers. The event alsoaims to boost investment into the region and ensure sustainable jobcreation within the sector”.
The show continues to enjoy the support and endorsement ofa number of key government and private institutions including: theIndustrial Development Corporation DTI, the South African tradeand inward investment promotion agency TIKZN, Enterprise
Mauritius, the Lesotho National Development Corporation LNDC,the trade organization ITC, Trade Mark East Africa, the South AfricanDyers and Finishers Association SADFA, USAID/Southern Africa& the USAID Trade & Investment Hubs, the international trendforecasting agency WGSN, UL, and WRAP, to mention a few.
The report “Africa is on the Move!” from McKinsey & Co.identifies a number of countries in Africa as key destinations forapparel, textiles and footwear. The list of countries mentionedincludes: South Africa, Mauritius, Madagascar, Swaziland, Lesotho,Botswana, Ethiopia, Kenya, Uganda, Tanzania and Egypt. Moreover,the renewal of the African Growth and Opportunities Act (AGOA)until 2025 gives another boost to the economy of African countriesas it significantly enhances market access to the US for qualifyingSub-Saharan African (SSA) countries. While many countries aretaking advantage of the Act, there are many that are still not realisingits true potential.
“It is encouraging to note that South Africa has just signedthe EAC-COMESA-SADC Tri-partite agreement. The agreement willoffer the advantage of reduced tariffs on goods traded between thetripartite countries and create new opportunities for intra-regionaltrade” adds William Scalco. “We firmly believe that Africa is ideallyplaced to take full advantage of these opportunities.”
Source Africa will be taking place at the Cape Town InternationalConvention Centre (CTICC) from 20 to 21 June 2018. The 2017 ATFtrade show will take place from 21 to 23 November 2017 at the CTICCin Cape Town. Second textile related activity in Africa
With this acquisition, Messe Frankfurt strengthens its textileactivities in Africa. In October 2017, Messe Frankfurt is partneringfor the first time with Africa Fashion and Sourcing Week in AddisAbeba, Ethiopia. As part of the partnership, the three new trade fairbrands Texworld Addis Abeba, Apparel Sourcing Addis Abeba andTexprocess Addis Abeba will be launched within the Africa Sourcing& Fashion Week.
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PM dedicates Deendayal Hastkala Sankul to NationContinued from Page 1 Col 2 weavers/artisans of Varanasi to integrate into the global economy.
There is a need for trade facilitation and advisory services to providesupport for compliance with trade procedures, formalities and legaland regulatory requirements; this is needed to make entrepreneursaware of new rules, regulations, thereby facilitating their import/export activities and enhancing their competitiveness. There is alsoa need to showcase the rich tradition of Varanasi through museum,live demonstration and audio visual medium to domestic andinternational tourists.
The Sankul will facilitate the weavers/artisans/exporters inpromotion of handlooms/handicrafts in both domestic andinternational markets. The Crafts Museum in the Sankul will preservethe traditional handloom/handicrafts products of Varanasi andshowcase the handloom & handicraft products, which will be aninspiration for the new generation, scholars, designers and tourists.
The project spans 7.93 acres, with a built-up area of 43,450square metres. The approximate cost of the complex is 300 crorerupees.
The Prime Minister had laid foundation stone of TradeFacilitation Centre and a Crafts Museum on 7th November, 2014 atBada Lalpur, Varanasi. The first phase of the project, consisting ofCrafts Museum, Entrance Plaza and Shopping Arcade wasinaugurated by the Prime Minister on 22nd December, 2016.
The project is strategically located near the upcoming bypassbetween NH-29 (Varanasi - Gorakhpur Road) and NH-56 (Varanasi -Sultanpur Road) which shall reduce travel time to Sankul fromVaranasi airport to 30 minutes and from Sarnath to Sankul to 20minutes.
The location of the site also allows its connectivity to allprominent locations within Varanasi and Sarnath. The location isexpected to be the new growth corridor of development.
The complex is equipped with automated BuildingManagement Systems (BMS), central air conditioning and ventilationsystems, power backup, fire protection and public address systems,lifts/escalators for ease of public movement on all levels and centrallymonitored CCTV system for safety and security.
The project consists of five blocks: Marts-cum-Office,Convention hall-cum-Exhibition, Food court-cum-Guest House,Shopping Arcade and Crafts Museum. It has double-basementparking facilities with parking capacity of around 370 cars and 430two-wheelers.
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ICRA sees RBI leaving rates unchanged on Oct 4MUMBAI, SEPT 28—
Despite rising shrill calls fora fiscal and monetary boost afterQ1 GDP slipped to a three-yearlow, Reserve Bank is likely to leavepolicy rates unchanged in theforthcoming policy review nextmonth as it expects a spike in retailinflation going ahead, says areport.
Retail inflation rose to a
five-month high of 3.36 per centin August from 2.36 per cent inJuly. August inflation numberwas the highest since March2017, when it was recorded at 3.89per cent, reports PTI.
“Retail inflation is expectedto average 3.7 per cent in FY18,lower than the medium-term targetof 4 per cent. With the repo rateat present at 6 per cent, there
maybe room for further monetaryeasing.
“However, we do notexpect a rate cut in the upcomingpolicy review, as CPI inflation isexpected to chart an upwardtrajectory over the comingmonths, and print between 4.5and 5 per cent in March 2018,”Icra managing director NareshTakkar said in a report today.