Textile Park

PM MITRA Parks To Attract Large Investments & Huge Employment

Textile Insights March 4, 2024

Expeditious implementation of seven PM Mega Integrated Textile Regions and Apparel (PM MITRA) parks will help in attracting large investments besides generating huge employment. During inauguration of Bharat Tex 2024, Prime Minister Narendra Modi threw light on plans to create seven PM MITRA

Financial Results

Andritz Reports Best Ever Financial Results In History

Textile Insights March 2, 2024

Nonwovens technology and recycling solutions manufacturer Andritz said it has reported best ever financial results in its history in 2023, when its revenue increased to €8.7 billion, up 15 percent over 2022. Net income at the German company rose to €504 million in 2023, up a massive 25 percent over its previous year and operating […]

Technical Textile & Nonwoven

Freudenberg Launches 100% Synthetic Wetlaid Nonwoven Fabric

Textile Insights March 2, 2024

Freudenberg Performance Materials has launched a new 100 percent synthetic wetlaid nonwoven product line under the brand name of Filtura and has been fully made in Germany. “The new materials can be manufactured from various types of polymer-based fibres, including ultra-fine micro-fibres,” a Freudenberg press release informed. These unique wetlaid materials from

Fibre

Unifi Targets To Recycle Equivalent Of 1.5bn T-Shirts By 2030

Textile Insights March 2, 2024

Unifi, maker of Repreve brand recycled fibres has set an ambitious textile-to-textile recycling target to transform the equivalent of 1.5 billion t-shirts worth of textile and yarn waste into new products by 2030. “Our fourth annual sustainability publication showcases UNIFI’s continuous progress and ongoing commitment to setting and exceeding new sustainability

Industry

VF Supports Reskilling Unemployed Women Garment Workers

Textile Insights March 2, 2024

VF Corp, owner of garment brands like Vans, The North Face, Timberland, etc has extended its support for a programme that helps women garment workers re-enter employment who have lost their jobs as a result of increased automation. VF has confirmed it will offer a further grant to Shimmy Technologies, a women-owned social enterprise which, […]

Policies

Finance Ministry May Tweak 45 Days Payment Rule for MSMEs

Textile Insights March 2, 2024

The government is actively reviewing the concerns of stakeholders and assessing whether there are valid grounds for amendments to this 45-days payment rule for MSMEs. The Union Finance Ministry is contemplating a revision to a recent tax regulation requiring businesses to settle payments to small and medium-sized enterprises (MSMEs) within 45 days. This follows a […]

Cotton

“Avoid Panic Cotton Buying” – SIMA Advises Spinning Mills

Textile Insights March 2, 2024

Following a steep increase in cotton prices, particularly the Shankar-6 variety in the last two weeks, the Southern India Mills’ Association (SIMA) advised spinning mills to avoid panic buying. According to Dr SK Sundararaman, Chairman, SIMA, cotton prices have increased by 10-12 percent within 15 days and created a panic situation across the textile value […]

Industry

Seven Apparel Projects Receive Approval From Odisha Government

Textile Insights March 1, 2024

Seven apparel manufacturing units received project approval letters from the Odisha government, which will be set up in the garment cluster of Khurda. “They were attracted by Odisha’s conducive business environment, stable government, swift approvals, and seamless land allotment process,” an Odisha government press release said. “With the best incentive structure for

Industry

MoU To Promote Upcycled Products Made From Textiles Waste

Textile Insights March 1, 2024

A tripartite Memorandum of Understanding (MoU) was signed at the just concluded Bharat Tex 2024 for the promotion of upcycled products made from textiles waste and scrap. The MoU was signed by the Textiles Committee, Government e Marketplace (GeM), Ministry of Commerce and Industry, and Standing Conference of Public Enterprises (SCOPE), Department of Public Enterprises.

Sustainability

Apparel Sector Working On Sustainable Practices: AEPC

Textile Insights March 1, 2024

Apparel Export Promotion Council (AEPC) said the sector is working on sustainable manufacturing practices as it would help enhance the competitiveness in global markets. “The mantra given by Prime Minister Narendra Modi to boost textiles exports through 5F – Farm, Fibre, Factory, Fashion to Foreign will energise the textiles export sector,” AEPC Chairman Sudhir Sekhri […]