Event

18,000 Buyers Visit CMAI Organised National Garment Fair 2024

Textile Insights February 5, 2024

The National Garment Fair (NGF 2024) which was held from January 29 to 31, 2024 drew an impressive crowd of almost 18,000 visitors including national and regional retailers, distributors, and wholesalers. Spread across 700,000 square feet across seven halls, NGF 2024 took place at the Bombay

Apparel, Fashion, Retail

SBTi To Develop Specific Emission Standard For Garment Sector

Textile Insights February 5, 2024

The Science Based Targets Initiative (SBTi) is developing an industry specific standard for six high impact sectors, including the apparel industry in 2024. According to SBTi, the garment sector has been chosen to have a sector specific SBTi standard due to its high emissions and SBTi will also review its Corporate Net-Zero Standard for potential […]

Export

Bangladesh Garment Exporters In Crisis On Reduction Of Subsidies

Textile Insights February 5, 2024

Bangladesh apparel exporters are facing a crisis over the government’s decision to withdraw cash subsidies for five clothing products, which make up for 55 percent of the sector’s exports. Along with the garment industry, the Bangladesh government had reduced incentives for other export sectors ahead of the country’s scheduled withdrawal from least developed country (LDC)

Industry

Net Profits Of Major Chinese Textile Firms Grows 7.2% In 2023

Textile Insights February 5, 2024

Net profits of major Chinese textile companies rose 7.2 percent year on year to Yuan 180.2 billion in the previous year. “The collective operating revenue of these textile enterprises amounted to Yuan 4.70 trillion in 2023, down 0.8 percent over 2022,” data of the Ministry of Industry and Information Technology informed. In the previous year, […]

Export

China’s Polyester Exports Cross 10,000 Kilo Tons In 2023

Textile Insights February 3, 2024

China’s exports of polyester raw materials like PSF, PFY, PET fibre chip, PET bottle chip and BOPET have crossed the landmark of 10,000 kilo tons in any year for the first time in 2023. “Overall polyester overseas shipments touched 11,160 kilo tons in 2023, an increase of 13 percent or 1,280 kilo tons over its […]

Financial Results

Net Profit At Century Textiles Soars 855 Percent In Q3FY’24

Textile Insights February 3, 2024

Net profit at Century Textiles and Industries Ltd soared 855 percent to Rs 83.3 crore in the third quarter of the fiscal 2023-24, compared to Rs 8.72 crore in the corresponding quarter of the previous fiscal. The Aditya Birla Group’s company revenues in the three months to December 31, 2023 increased 8.8 percent to Rs […]

Export

2023 Chinese Cotton Yarn Imports From India Jump Four Times

Textile Insights February 3, 2024

Chinese cotton yarn import volumes from India jumped four times to 248,000 tons in 2023 as against 56,400 tons in 2022 and accounted for 16 percent of total cotton yarn imports. The total Chinese import volume of cotton yarn for 2023 totaled 1.55 million tons, growing by a massive 41.9 percent compared to 1.09 million […]

Technical Textile & Nonwoven

TN Govt May Buy Technical Textile Products From Local Sources

Textile Insights February 3, 2024

The Tamil Nadu government is likely to look at a procurement policy to buy its technical textile requirements from local industries. “The procurement policy is likely to be a part of the state’s textile policy,” Dharmendra Pratap Yadav, Secretary in the Department of Handlooms, Handicrafts, Textiles and Khadi, told the Hindu. Some of the technical […]

Sustainability

Indorama Ventures Awarded ‘Platinum Medal’ By Ecovadis

Textile Insights February 3, 2024

Indorama Ventures has bagged the prestigious ‘Platinum Medal’ from EcoVadis’ Sustainability Assessment, which underscores the company’s unwavering commitment to sustainability. Indorama Ventures actively participates in the annual EcoVadis assessment to measure its sustainable practices, ensuring alignment with the diverse requirements of key customers. In the latest

Corporates

Gokuldas Acquires Matrix Clothing’s Knit Apparel Business

Textile Insights February 3, 2024

One of the biggest Indian garment exporters Gokuldas Exports Ltd (GEL), will acquire the knit apparel business of Matrix Clothing Private Ltd (MCPL) for an enterprise value amounting to Rs 489 crore. Of this Rs 489 crore, Rs 247.5 crore is being paid by way of preferential allotment of shares of Gokaldas Exports through a […]