Industry

CITI Welcomes 27.6% Hike In Textile Sector Budget Allocation

Textile Insights February 2, 2024

Confederation of Indian Textile Industry (CITI) welcomed the budget allocation for textiles which has increased by 27.6 percent, largely due to the allocation of Rs 600 crore for Cotton Corporation of India (CCI) towards cotton MSP operations. CITI Chairman Rakesh Mehra expressed hope that the

Dyes & Chemicals

Archroma Tweaks Dye Recipe To Make It More Cost-Effective

Textile Insights February 2, 2024

Archroma has extended its Avitera SE technology by launching Avitera SE Generation Next for more cost-effective sustainable dyeing of cellulosic fibres and blends. With an improved cost-to-performance ratio for new dark and extra-dark shades, the Avitera SE Generation Next range helps mills increase yield, improve productivity and reduces processing costs. “Dyeing darker

Financial Results

Net Profit At Raymond Almost Doubles To Rs 184cr In Q3FY’24

Textile Insights February 2, 2024

Net profits at Gautam Singhania led Raymond almost doubled to Rs 184 crore in the third fiscal quarter ending December 31, 2023 from Rs 95 crore in the corresponding quarter of fiscal 2022-23. During the three months to December 2023, revenue increased 11 percent year on year to Rs 2,450 crore, with an EBITDA margin […]

Technical Textile & Nonwoven

Exhibit Space For IDEA25 Exhibition Rapidly Filling Up: INDA

Textile Insights February 2, 2024

INDA, the Association of the Nonwoven Fabrics Industry said that exhibit space reservations for IDEA25 are rapidly approaching 70 percent. IDEA is being held April 29-May 1, 2025 at the Miami Beach Convention Center in Miami Beach, Florida. “All potential exhibitors are request to make their reservations as soon as possible to ensure they receive […]

Export

Bangladesh MMF Apparel Exports Can Be Doubled By 2025: Study

Textile Insights February 2, 2024

A Bangladesh study has found that if challenges faced by industry are resolved, exports of the country’s manmade fibre (MMF) apparels can double to US $19 billion by 2025 from the present $8.5 billion. The Economic Relations Division (ERD) study was done based on the present worldwide market share and export forecast of 20 types […]

Policies

Budget Extends RoSCTL Scheme For Apparel & Made-Up Exports

Textile Insights February 2, 2024

Finance Minister Nirmala Sitharaman in her interim budget has continued the Scheme for Rebate of State and Central Taxes and Levies (RoSCTL) for the export of apparels and made-ups until March 31, 2026. The RoSCTL, whose budgetary allocation has been increased by 10 percent, has proven to be instrumental in enhancing the competitiveness of Indian […]

Apparel, Fashion, Retail

Intelligent Garment Brand Turms Inks Rs 1.2cr Deal At Shark Tank

Textile Insights February 1, 2024

Turms, an Indian intelligent garment brand which designs clothing that has anti-stain, anti-bacterial, anti-fungal, and anti-odour properties has sealed a 1.2 crore deal in the reality show ‘Shark Tank India’. Surendra Singh Rajpurohit, owner of Turms highlighted its collection, which includes 30-day no-wash jeans, fearless white cotton shirts, cool tech t-shirts, and

Financial Results

Arvind Ltd Reports 8.41% Increase In Q3FY’24 Net Profit

Textile Insights February 1, 2024

Sanjay Lalbhai led Arvind Ltd reported an 8.41 percent year on year increase in consolidated net profit at Rs 94.32 crore for the third fiscal quarter ended December 31, 2023. “But, revenues from operations, impacted by price deflation, dropped 4.62 percent from a year ago quarter to Rs 1,888.24 crore during the three months to […]

Machinery

Kornit Digital Announces Availability Of Apollo DTG Platform

Textile Insights February 1, 2024

Kornit Digital announced availability of its field proven Kornit Apollo direct-to-garment (DTG) platform. “Successful field implementations underscore the transformative nature of Apollo for on-demand sustainable production at industrial scale,” Kornit Digital said in a press release. Kornit claimed that Apollo has the capacity to decorate more than 1.5 million garments

Policies

Key Takeaways Of Indian Interim Budget For Fiscal 2024-25

Textile Insights February 1, 2024

Today Finance Minister Nirmala Sitharman presented the interim union budget for fiscal 2024-25. The Finance Minster did not make any changes in direct and indirect taxes including import duties. Key takeaways of her speech include; Revised Estimates Fiscal 2023-24 Total receipts – Rs 27.56 lakh crore Tax receipts – Rs 23.24 lakh crore Total expenditure […]