Industry

TN Open-End Mills On Strike For Second Time in Four Months

Textile Insights November 6, 2023

For the second time in four months, Tamil Nadu open-end spinning mills will shutdown from November 7 to 30. Weavers in Tirupur and Coimbatore districts too have decided to go on strike from November 5. While speaking with the press, G. Arulmozhi, President of the Open-End Spinning Mills’

Technical Textile & Nonwoven

H1 Net Sales Drop 19% At Nonwoven Fabrics Producer Suominen

Textile Insights November 6, 2023

Net sales at nonwoven fabrics and roll goods manufacturer Suominen dropped 19 percent in the third quarter ended September 30, 2023 to €106.4 million as against €131.9 million in the year ago quarter. However, EBITDA improved slightly to €5.2 million in the quarter under review compared to €5.1 million in the comparable quarter. Cash flows […]

Export

AEPC Unveils ‘40 By 30’ Plan To Boost Indian Garment Exports

Textile Insights November 6, 2023

The Apparel Export Promotion Council of India (AEPC) has set a target of achieving US $40 billion in garment exports by 2030 “To achieve this target, the council will focus on innovation, expanding market and product basket, practice sustainability and responsible business practices,” AEPC Chairman Naren Goenka said. In a statement, Goenka said “We have […]

Financial Results

HP Cotton Textile Mill Posts Turnaround In H1FY’24 Net Profit

Textile Insights November 6, 2023

Manufacturer of cotton yarns and sewing threads, HP Cotton Textile Mills reported a turnaround in net profit by posting a profit in the first six months of fiscal 2024 ending September 2023. The Haryana based company recorded a net profit of Rs 4.41 crores between April and September 2023, as compared to a loss of […]

Fibre

Chinese PSF Exports Expand 21.2% Between Jan & Sept 2023

Textile Insights November 4, 2023

Chinese polyester staple fibre (PSF) exports expanded 21.2 percent over a year ago period to 904.4 kilo tons in the first nine months of the current year. Between January and September 2023, overseas shipment of PSF to Vietnam totaled 157,715 kilo tons, up by a massive 40.74 percent year on year and was China’s biggest […]

Export

Sri Lankan Apparel Exports Plunge 26% in Jan-Sept Period

Textile Insights November 4, 2023

The garment industry which accounts for around 45 percent of Sri Lanka’s export earnings saw apparel exports plunge 26 percent over a year ago period in the first nine months of the current year. Between January and September 2023, Sri Lankan clothing exports slipped to $3.34 billion, down 26 percent over the comparable months of […]

Cotton

Pakistan Cotton Arrivals Higher By 82% Till October 31

Textile Insights November 4, 2023

Cotton arrivals in Pakistan ginning factories till October 31 were 82 percent higher than the production of the cotton crop for the same period in the previous season. Data released by the Pakistan Cotton Ginners Association (PCGA) revealed that around 6.8 million cotton bales arrived at the ginning factories till Oct 31 percent, which is […]

Special Report

GDP Contribution Of Indian Textiles To Almost Double By 2030

Textile Insights November 4, 2023

A recently released report states that the contribution of the Indian textile industry will almost double from the current 2.3 percent to 5 percent by 2020. The report titled ‘Decadal Outlook for Textile Industry’ was jointly prepared by the Confederation of Indian Industry and Primus Partners. The report further said that Gross Value Added (GVA) […]

Machinery

Swiss Machinery Firms Focus On Sustainability At ITMA Asia

Textile Insights November 4, 2023

15 Swiss textile machinery companies are showcasing their latest, innovative and more important, sustainable technologies at the upcoming ITMA Asia. “In China, the textile industry is forward-looking and resilient, with a healthy appetite for new technologies and a determination to keep its leading position,” Swiss Textile Machinery Association (Swissmem) said in a press

Policies

PLI Scheme For Textiles Extended Till December 31

Textile Insights November 3, 2023

In view of the requests from textile industry stakeholders’, the Ministry of Textiles has decided to extend the date of inviting fresh applications under the PLI Scheme up to December 31, 2023. Earlier the Ministry had extended the period for inviting fresh applications from the textile industry till August 31, 2023 and then to October […]