Event

Minister of Textiles Highlights FDI Opportunities At Gartex Texprocess

Textile Insights August 2, 2024

The 11th edition of Gartex Texprocess India commenced yesterday with a grand opening at the state-of-the-art expo centre, Yashobhoomi, IICC, Dwarka, New Delhi. Chief Guest, Giriraj Singh, Minister of Textiles, highlighted FDIs and joint ventures as significant opportunities in the sector. The

Garment

Bangladesh Garment Sector Faces US$ 814 Mln Loss Due To Unrest

Textile Insights August 1, 2024

The recent political and social unrest in Bangladesh has wreaked havoc on the nation’s garment industry, leading to unprecedented financial losses for manufacturers, including SDF Clothing. The student-led protests over state employment quotas, which escalated into violent clashes and government-imposed curfews, have caused an estimated US$ 814 million in losses. Md.

Apparel, Fashion, Retail

US Fashion Brands Diversify Sourcing Amidst Challenges In Bangladesh

Textile Insights August 1, 2024

A recent study reveals that American fashion companies are increasingly diversifying their apparel-sourcing base, with a significant shift towards India as uncertainties and risks in Bangladesh impact sourcing strategies. According to the latest US study, the evolving geopolitical landscape and supply chain disruptions have made India an attractive alternative for US

Export

India’s T&A Exports Show Steady Growth In Q1 2024

Textile Insights August 1, 2024

The latest quick estimates released by the Ministry of Commerce & Industry reveal a promising outlook for India’s textile and apparel sectors, showcasing steady growth during the first quarter of 2024 In June 2024, exports of cotton yarn, fabrics, made-ups, and handloom products saw a modest increase of 0.92% compared to June 2023, reaching US$ […]

Event

Innovative Italian Textile Technology To Feature At CAITME 2024

Textile Insights August 1, 2024

The upcoming edition of CAITME, scheduled to take place in Tashkent, Uzbekistan, from September 11-14, 2024, will feature 16 prominent Italian textile machinery manufacturers. These companies will showcase their innovations in a collective space organized by the Italian Trade Agency and ACIMIT (the Association of Italian Textile Machinery Manufacturers). The participating

Corporates

RSWM To Set Up New Production Unit In J&K

Textile Insights July 31, 2024

In a major boost for industrial growth in Jammu and Kashmir, RSWM Limited has announced its plans to establish a new production unit in the region. This move comes after the company received government approvals under the New Central Sector Scheme for Industrial Development of Jammu and Kashmir, 2021. RSWM has been allotted 32 acres […]

Technical Textile & Nonwoven

Mission Steering Group Approves Rs 21 Crore for 19 Technical Textile Projects

Textile Insights July 31, 2024

The Mission Steering Group, chaired by the Union Minister of Textiles, has sanctioned 19 groundbreaking research initiatives valued at approximately Rs 21 crores under the National Technical Textiles Mission. These projects span vital areas such as composites, geotextiles, smart textiles, and advanced machinery, and were approved during the 9th Mission Steering Group

Apparel, Fashion, Retail

National Garment Fair 2024: Record Success And Business Growth

Textile Insights July 31, 2024

The 79th National Garment Fair (NGF) 2024, orchestrated by the Clothing Manufacturers Association of India (CMAI), concluded triumphantly, solidifying its status as India’s preeminent apparel trade show. Held from July 23 to 26, 2024, the event attracted over 39,000 buyers, primarily retailers, distributors, and wholesalers, generating an estimated INR 2100 crore in

Financial Results

Arvind Ltd Announces Robust Q1 FY25 Results Despite Setbacks

Textile Insights July 30, 2024

Arvind Limited today reported its financial results for Q1 FY25, demonstrating resilience despite external challenges. Key Financials: Revenue: Rs 1,831 Cr (YoY Change: -1%) EBITDA: Rs 150 Cr (YoY Change: -17%; Margin: 8.2%) PAT: Rs 39 Cr (YoY Change: -40%) The financial performance was notably impacted by the National general election and an illegal workers’ […]

Corporates

Eastman Exports Appoints Ritesh Kumar As CEO

Textile Insights July 29, 2024

Tiruppur-based Eastman Exports, India’s fourth largest knitwear manufacturer and exporter, has announced the appointment of Ritesh Kumar as its Chief Executive Officer (CEO). Kumar brings with him 25 years of extensive experience in garment industry, having previously served as the Senior Vice President at Shahi Exports. Kumar’s appointment reflects Eastman Exports’