Financial Results

Grasim’s Consolidated Revenue Grows 9% In Q1FY25

Textile Insights August 14, 2024

Grasim Industries Ltd reported its financial results for the quarter ended 30th June 2024. The company’s consolidated revenue reached Rs 33,861 cr., marking a 9% increase YoY, driven by strong performance across its diversified business portfolio, including cellulosic staple fibre, building

Corporates

Indorama Ventures To Close PTA Plant In Montréal-Est

Textile Insights August 14, 2024

Indorama Ventures’ Combined PET business segment has announced plans to discontinue operations at its Purified Terephthalic Acid (PTA) plant in Montréal-Est, Montral, Canada with preparations for the closure set to begin in September 2024. This decision follows significant shifts in the polyester industry, notably due to new constructions and ongoing overcapacity in

Machinery

Balkan Tearing Line – Converting Textile Waste Into Value

Textile Insights August 12, 2024

Trützschler & Balkan Textile Machinery have collaborated to become the first full-service provider in spinning preparation for recycling of textile waste. Textile Hard Waste – This waste is collected from various sources as listed below: Households: Used clothes Retailers and brands: Unsold inventory, defective and returned items Manufacturing and production:

Machinery

Rieter Maintenance Kits – Spare Parts That Make A Difference!

Textile Insights August 10, 2024

Even the best spinning machines show signs of wear and tear after years of intensive operation. Investing in regular maintenance is smart and helps prevent breakdowns. Rieter maintenance kits combine spare and wear parts with the corresponding service life to improve machine performance and reduce conversion costs. In today’s fast-paced and technology-driven world,

Apparel, Fashion, Retail

From Virtual Try-Ons To Auto-Delivery: The Evolution Of Retail Apparel

Textile Insights August 10, 2024

The textile and apparel industry is undergoing a significant transformation, driven by technological advancements and evolving consumer preferences. The recently published “Adaptive Retail Report 2024” highlights several key trends that are shaping the future of this dynamic sector. Virtual Try-On Technology Revolutionizes Shopping One of the most notable

Economy

T&A Sector Has To Redeem Itself With Macro-Economic Budgetary Offerings

Textile Insights August 10, 2024

Even as the Union Budget 2024 has not been able to live up to the textile and apparel sector’s expectations in terms of direct benefits, the other macro-economic measures proposed by the Union Finance Minister to boost employment, skilling, infrastructure, start-up ecosystem, MSMEs, financial support for clean energy transition as also ensuing fiscal consolidation of […]

Trade & Market

India Follows Trend As Global Trouser Export Market Declines Across The Board In 2023

Textile Insights August 10, 2024

The 2023 global trouser export market faced significant challenges, with declines across most categories and regions, writes Henry Dsouza, Associate Editor, Textile Insights In 2023, the global trouser export market experienced a notable downturn, with total exports amounting to US$ 105.35 billion, reflecting an 8.76% decline compared to the previous year. Woven men’s

Trade & Market

Policy Countermeasures Offer Respite To Poly Yarn Makers In 2024-25: CRISIL Ratings Report

Textile Insights August 10, 2024

Recovery in profitability amid curbs on cheaper imports and modest capex support credit profiles After two years of subdued performance, India’s polyester yarn manufacturers will see operating profitability recover by 100-150 basis points (bps) to 7-8% this fiscal, because of countermeasures taken by the government to curb import of cheaper competing products, according to

Cotton

Global Cotton Market Outlook: Demand And Production Projections 2024-2033

Textile Insights August 10, 2024

The global cotton market is set for significant growth over the next decade, driven by rising consumption and advancements in production techniques, according to OECD-FAO Agricultural Outlook 2024-2033 report. Cotton consumption is forecasted to increase by 1.7% annually, fueled by population growth and higher incomes, particularly in middle- and low-income countries. Key

Special Report

The Importance of Proper Costing In Textile Industry

Textile Insights August 10, 2024

We cannot consider the same manufacturing cost per count for all counts, opines S. Murugan  “I don’t know what to do. Our prices are no longer competitive! I am losing orders because of my higher quotes and sometimes the profitability of some counts is not as per our costing profits!”. I was lamenting my difficult […]