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Pic: Shutterstock For promoting ease of doing business and providing quick access to information to importers/exporters, India s ministry of commerce and industry has launched a
Directorate General of Foreign Trade (DGFT) Trade Facilitation Mobile App. The app, developed by Tata Consultancy Services, can be downloaded from the DGFT website for both Android and iOS platforms. Very often, the simple trade-related process becomes cumbersome, and when they are available with a touch of a button, like with a mobile app, we will ensure the ease of doing business and the speedy growth in international trade, minister of commerce and industry Piyush Goyal said while launching the app during an online video conference.
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Industry 4.0 programmes that, according to the country s industry ministry, will boost efficiency and competitiveness. The ministry has provided facilities for structurisation in the textiles, leather and footwear industry through renewal of machinery with advanced technologies. The various programmes outlined by the ministry to implement the roadmap of Making Indonesia 4.0 include assessment of Indonesia Industry 4.0 Readiness Index (INDI 4.0), implementation and adoption of the Industry 4.0 technology in the textiles and garment sector, improvement in the flow of materials in the petrochemical industry, and the establishment of textiles and textiles industry pilot project in Industry 4.0. The ministry has already conducted technical training and training for transformation managers in developing the Indonesia Smart Textile Industry Hub (ISTIH).
Tapping into the mutual strengths of India, Israel and the United Arab Emirates could propel the trilateral trade among these nations to $110 billion by 2030, Ilan Sztulman.
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Pic: Shutterstock 2021 will be a critical year for the European textile and clothing sector, according to the
European Apparel and Textile Confederation (Euratex). On the occasion of releasing its quarterly economic update, Euratex is concerned that the COVID-19 crisis may be followed by disruptions in the global supply chains, affecting the competitiveness of the industry. Economic data up to December 2020 reflect a dramatic contraction in demand and production of textile and clothing items, caused by the COVID-19 pandemic. Over the full year 2020, the EU turnover fell by - 9.3 per cent in textiles and by -17.7 per cent in clothing, compared with 2019. The crisis was particularly felt in the middle of the year (with production losses over 50 per cent). Towards the last quarter of 2020, business activity recovered in the textile industry (+1.6 per cent as compared with the previous quarter), while it fur
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Pic: Shutterstock The world economy is facing sharply divergent growth prospects across various regions, as prospects of a uniform swift snapback from a dismal 2020 have become clouded, says a latest report. Vaccination euphoria and attendant hopes of a rapid, broad-based recovery have been tempered by a fresh COVID-19 wave sweeping through a number of economies, putting their growth trajectories at risk.
The latest update of the Brookings-Financial Times Tracking Indexes for the Global Economic Recovery (TIGER) reveals grounds for optimism about global growth prospects but also renewed concerns about impediments to a strong recovery. The report a set of composite indexes has been constructed by Eswar Prasad of Brookings and Aryan Khanna and Darren Chang of Cornell, in collaboration with the Financial Times.