Industry

Bangladesh Textile Sector Attracts Nil Investment In 2023

Textile Insights January 30, 2024

The Bangladesh textile industry did not witness any new investments in 2023 due to various internal and external forces, which include a severe shortage of energy and a global economic slowdown. This was informed by Bangladesh Textile Mills Association (BTMA) President Mohammad Ali Khokon at a

Industry

Turning The Wheel: ICRA’s Anticipated Surge In Cotton Demand Creates Buzz In The Industry

Textile Insights January 30, 2024

In a recent research note by ICRA on the domestic cotton spinning industry, the rating agency has anticipated a robust 12-14% growth in demand for FY2024, driven by a surge of 85-90% in yarn exports. This upswing is attributed to a shift in sourcing preferences away from China and heightened expectations of increased demand in […]

Fibre

Keel Labs Debuts T-Shirt Produced From Seaweed Fibre

Textile Insights January 30, 2024

Keel Labs has debuted a t-shirt produced from Kelsun fibre, the company’s flagship product made from seaweed. Created to demonstrate Kelsun’s plug-and-play potential in replacing conventional fibres used in the textile industry, this t-shirt marks the first Kelsun garment made using traditional knitting machines. The Kelsun T-Shirt was created using 70 percent Kelsun and

Machinery

Global Textile Machinery Market To Grow At CAGR Of 6.1% Till 2033

Textile Insights January 29, 2024

The global textile machinery market which was valued at US $29 billion in 2023 is expected to grow at a CAGR of 6.1 percent and touch $52 billion by 2033. According to a Fact.MR report, among all textile machinery sales, those of spinning machines are projected to grow at a CAGR of 4.6 percent from […]

Export

Red Sea Crisis May Not Right Away Hit Textile Sector: CRISIL

Textile Insights January 29, 2024

Players operating in sectors like textiles, chemicals and capital goods may not be immediately impacted because of better ability to pass on higher costs, or because of a weaker trade cycle. “But a prolonged crisis over the next few quarters can make these sectors also vulnerable as working capital cycles would get stretched with orders […]

Export

Amid Red Sea Disruption German Shipper Offers Land Route

Textile Insights January 29, 2024

German shipping group Hapag-Lloyd will be introducing land corridors through Saudi Arabia to mitigate the impact on its business. But the German shipping giant will continue to route its vessels around the Cape of Good Hope until further notice due to Houthi attacks on vessels in the Red Sea. In a statement, the shipping company […]

Dyes & Chemicals

Sun Chemical Bags Eco Passport By Oeko-Tex Certification

Textile Insights January 29, 2024

Sun Chemical has completed the Eco Passport by Oeko-Tex certification for a selected range of pigments and also achieved Zero Discharge of Hazardous Chemicals (ZHDC) Level 3 accreditation. According to a Sun Chemical press release, Level 3 is the highest level possible by the ZDHC Foundation, an organisation committed to phasing out hazardous chemicals in […]

Export

Uzbekistan Textile & Apparel Exports Slip 3.8% In 2023

Textile Insights January 29, 2024

Uzbekistan exported textile and garments totaling to US $3 billion in 2023, which is a 3.8 percent slip over its previous year. Among these, exports of yarn reached $1.2 billion and accounted for 41 percent of all textile and garment exports. “While exports of finished textile products also touched $1.2 billion and accounted for 41.1 […]

Policies

Textile Ministry May See Marginal Rise In Budget Allocation

Textile Insights January 29, 2024

The Indian Textile Ministry is likely to see a marginal increase of 2.5 percent in its budget allocation for fiscal 2024-25 over the Rs 4,389 crore allocated in the current fiscal. “This increase, though modest, aligns with the government’s commitment to establish India as a key global player in the textile industry. However, the limited […]

Fibre

Birla Cellulose & Usha Yarn Jointly Unveil Recycled Yarn Blends

Textile Insights January 25, 2024

Birla Cellulose and Usha Yarn have joined forces to introduce ‘Puneh’, a groundbreaking range of highly sustainable mechanically recycled yarn blends. “This association aims to revolutionise the textile industry by seamlessly integrating recycled fashion yarn with sustainable cellulosic fibre,” Birla Cellulose said in a press release. Derived from Sanskrit, ‘Puneh’