Industry

Indian Textile Industry Poised For Growth Amid Rising Export Demand

Textile Insights September 5, 2024

The Indian textile industry is poised for growth in 2024, driven by rising export demand, resilient consumer spending, and favorable geopolitical conditions, according to a B&K Securities report. The ready-made garments (RMG) sector is expected to see significant export growth due to

Corporates

Meera Industries Bags Orders From Bulgaria And Egypt

Textile Insights September 5, 2024

Meera Industries has secured international orders totaling US$ 302,000, highlighting its technological expertise and growing global presence despite a challenging economic climate. The orders include US$ 181,000 from Sorokov Instruments in Bulgaria and US$ 121,000 from Egyptal Hegaz Co. in Egypt. These orders, spanning Europe and the Middle East, underscore the increasing

Corporates

Ganesha Ecosphere Partners With Race Eco Chain For PET Recycling

Textile Insights September 5, 2024

Ganesha Ecosphere to have a joint venture with Race Eco Chain to set up washing plants for producing PET flakes. The company’s Board of Directors approved the move during a meeting on September 4, 2024. As part of the joint venture, Ganesha Ecosphere will acquire up to a 49% stake, while Race Eco Chain will […]

Export

Vietnam Secures Textile Orders Through 2024

Textile Insights September 5, 2024

According to the Vietnam Textile and Apparel Association (VITAS), several textile companies in Vietnam have secured orders through the end of 2024 and are already negotiating deals for the upcoming year. Key export markets such as the U.S., Japan, South Korea, and China have shown positive growth, contributing to a significant rise in export turnover. […]

Industry

Tamil Nadu’s Textile Policy To Boost Tiruppur’s Apparel Role

Textile Insights September 5, 2024

The Tamil Nadu government’s new textile policy aims to enhance Tiruppur’s position in the apparel value chain, according to Dharmendra Pratap Yadav, Principal Secretary of the Handlooms, Handicrafts, Textiles, and Khadi Department. While the service sector contributes 65% to the State’s GDP, the government is focused on boosting the manufacturing sector,

Industry

BGMEA Appeals To Bangladesh Bank For Support Amidst Political Instability

Textile Insights September 4, 2024

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has requested urgent assistance from Bangladesh Bank to support the garment sector, which has been severely impacted by recent political instability. On August 27, 2024, BGMEA President Khandoker Rafiqul Islam and his delegation met with Dr. Ahsan H. Mansur, Governor of Bangladesh Bank, to discuss the

Corporates

CMAI Partners With NAEC And GEAR To Strengthen UP And Rajasthan Garment Makers

Textile Insights September 4, 2024

The Clothing Manufacturers Association of India (CMAI), the country’s leading association representing the garment industry, has entered into two strategic Memorandums of Understanding (MOUs) with the Noida Apparel Export Cluster (NAEC) and the Garment Exporters Association of Rajasthan (GEAR). These agreements, signed yesterday in Mumbai, are poised to elevate garment

Industry

IVF And India ITME Society Honours S. P. Verma On His Retirement

Textile Insights September 2, 2024

The International Vaish Federation (IVF), Mumbai, in collaboration with the India ITME Society, organized a special event to honour S.P. Verma, Additional Textile Commissioner of India, on the occasion of his retirement. The event, held at the ITME Centre, was a heartfelt farewell, recognizing Verma’s significant contributions to the textile industry. The ceremony

Event

Winners Of The ITMF Awards 2024 Announced

Textile Insights September 2, 2024

The International Textile Manufacturers Federation (ITMF) has announced the winners of the ITMF Awards 2024 in two distinct categories: ITMF Sustainability & Innovation Award and the ITMF International Collaboration Award. The award recipients will present their groundbreaking projects at the ITMF & IAF Conference 2024, scheduled to take place from September 8-10,

Financial Results

Lululemon Athletica Reports Strong Q2 FY2024 Results

Textile Insights September 2, 2024

Lululemon Athletica Inc. has announced solid financial results for Q2 FY2024, ending July 28, 2024, with a 7% increase in net revenue to US$ 2.4 billion. International sales were a key driver, up 29%, while the U.S. saw a modest 1% increase. The company reported a 9% rise in gross profit to US$ 1.4 billion, […]