Industry

Kumaraguru College Receives Advanced Rieter Spinning Machine For Students’ Training

Textile Insights July 28, 2024

The Department of Textile Technology at Kumaraguru College of Technology organized a handover ceremony for the Rieter R923 Rotor Spinning Machine on July 22, 2024 at KCT college campus. The R923 Rotor Spinning Machine, generously sponsored by Rieter Group, Switzerland, is valued at Rs 40 lakh.

Event

Nominations Open For Intexcon 2024 Technical Textiles Innovation Award

Textile Insights July 28, 2024

The Intexcon 2024 Technical Textiles Innovation Award, co-presented by Diagonal Consulting (India) and the Indian Technical Textiles Association (ITTA), is set to be a highlight of the upcoming Intexcon 2024. This international conference and expo, themed “Tech Tex Asia – Capitalising India’s Growth & Collaborative Transformation As A Global Leader In Advanced

Event

Better Cotton Announces New Council Co-Chairs And Members

Textile Insights July 28, 2024

Better Cotton has announced the appointment of two new co-chairs and five new members to its Council. Alan McClay, CEO at Better Cotton, expressed enthusiasm for the new appointments, stating, “Their experience, insights and perspectives will be invaluable as the council continues to evolve to best serve Better Cotton, its affiliated farmers and its diverse […]

Economy

ICT Mumbai And Evonik Collaborate For Academic Innovation

Textile Insights July 28, 2024

ICT Mumbai has announced its signing of a Memorandum of Understanding (MoU) with Evonik under their “Grow Beyond Yourself” initiative. This collaboration was made with the ongoing efforts to enhance educational and research opportunities for students and faculty. As part of the partnership, Evonik will sponsor innovative research projects, fostering innovation

Financial Results

Fineotex Raises Rs 342.5 Crores Via Equity And Warrants

Textile Insights July 25, 2024

Fineotex Chemical, a leading specialty chemical manufacturer, announces the successful fund raising of Rs 342.5 crores through a preferential allotment of equity shares and convertible warrants. The fund-raising was executed in two distinct phases: Phase I: The Company allotted 970,000 equity shares at an issue price of Rs 346 per share, aggregating to Rs 33.56 […]

Sustainability

New EU Law Sets Ambitious Ecodesign Requirements For Physical Goods

Textile Insights July 25, 2024

A new EU law has been enacted to establish comprehensive ecodesign requirements and information for nearly all physical goods entering the EU market. The Ecodesign for Sustainable Products Regulation, which builds upon the existing Ecodesign Directive that currently only covers energy-related products, aims to enhance the circularity, energy efficiency, and overall

Machinery

Italian Textile Machinery Orders Drop 17% In Q2 2024

Textile Insights July 25, 2024

In the second quarter of 2024, the order index for Italian textile machinery experienced a 17% decline compared to the same period in 2023, according to ACIMIT (the Association of Italian Textile Machinery Manufacturers). The index, measured at 49.8 points (base 2021=100), reflects a significant drop, primarily driven by a 22% decrease in foreign markets, […]

Export

Uzbekistan’s Textile Exports Fall 5.3% In H12024

Textile Insights July 25, 2024

In the first half of 2024, Uzbekistan’s textile exports reached US$ 1.5 billion, marking a 5.3% decline compared to the same period in 2023, according to the Statistics Agency. The primary components of these exports were finished goods, which accounted for 38.1% of the total, and yarn, making up 46.2%. These products were shipped to […]

Industry

CITI’s Chairman Reviews Budget Impact

Textile Insights July 25, 2024

The Chairman of the Confederation of Indian Textile Industry (CITI), Rakesh Mehra, congratulated the Hon’ble Minister of Finance, Nirmala Sitharaman, for presenting her 7th Finance Budget. He lauded it as a forward-thinking budget addressing key issues for the overall growth of the Indian economy. However, he emphasized the need for bold measures to address the […]

Sustainability

CARBIOS And Nouvelles Fibres Textiles Partner For Polyester Recycling

Textile Insights July 25, 2024

CARBIOS, a pioneer in biological technologies for plastic and textile recycling, and Nouvelles Fibres Textiles, a specialist in recovering end-of-life textiles, have signed a Memorandum of Understanding to supply polyester textiles to the first PET biorecycling plant in Longlaville, France. This collaboration will utilize CARBIOS’ enzymatic depolymerization