Financial Results

Vardhman Textiles Net Profit Soars 26% In Q4 Of Fiscal 2024

Textile Insights May 14, 2024

Net profit at Ludhiana based Vardhman Textiles soared 26 percent to Rs 201 crore in the fourth quarter ended March 31, compared to Rs 159 crore in the comparable period of earlier fiscal. Revenue in the January to March 2024 period dropped marginally by one percent to Rs 2,459 crore, as against

Event

TAI Hosting Hybrid Lecture On Opportunities & Threats From AI

Textile Insights May 14, 2024

The Textile Association (India), Mumbai Unit is organising a hybrid lecture on May 17, 2024 at the TAI, Mumbai Unit Office, which will be followed by high tea. The theme of this lecture is ‘Opportunities & Threats AI poses for MSME textile units.’ The lecture will be held from 4.00 to 5.30 pm and there […]

Industry

CITI Gears Up For Future That Envisions Thriving Textile Sector

Textile Insights May 14, 2024

The Confederation of Indian Textile Industry (CITI) is gearing up for a future that envisions a thriving textile sector till 2047, which also marks ‘New India’s’ fulfillment of aspirations. “The textile industry is crafting an action plan not just for the immediate future but for the long haul till 2047,” CITI Chairman Rakesh Mehra said. […]

Industry

Renewables Now Account For 30% Of Global Electricity Output

Textile Insights May 13, 2024

Global solar and wind energy now account for 30 percent of overall worldwide electricity generation, according to a report by global energy think tank Ember. Since 2000, renewables have expanded from 19 percent to more than 30 percent of global electricity, driven by an increase in solar and wind from 0.2 percent in 2000 to […]

Financial Results

Net Profits Of Pak Listed Textile Companies Drop 64.2% In Q1

Textile Insights May 13, 2024

The stress on Pakistan’s Karachi Stock Exchange (KSE) listed textile and garment manufacturing companies continued into the first quarter of 2024 as the sector grappled with various challenges. So, while the KSE-100 Index broke all previous records, KSE listed textile and apparel sector companies posted a 64.2 percent year on year drop in net profits […]

Corporates

Indorama Ventures Closes $500mn Syndicated Term Loan Facility

Textile Insights May 13, 2024

Thailand headquartered Indorama Ventures has successfully closed a US $500 million syndicated term loan facility, arranged by HSBC and Standard Chartered Bank. This loan is part of its program to refinance upcoming maturities totaling $1.1 billion, with a focus on generating ample liquidity, strengthening its financial structure, and diversifying sources of financing.

Technical Textile & Nonwoven

India’s Technical Textiles Market Growing At 10% Per Annum

Textile Insights May 13, 2024

India’s technical textiles market has a huge potential backed by a significant growth rate of 10 percent and is also the fifth largest technical textiles market in the world. This was stated by Textiles Secretary Rachna Shah at a National Symposium on Advancements in Composites, Speciality Fibres and Chemicals held in New Delhi. The Symposium […]

Cotton

19% Of US Garment Samples Have Banned Xinjiang Cotton: Study

Textile Insights May 13, 2024

A recent study has revealed that traces of banned Chinese cotton were found in 19 percent of garment and other merchandise samples selling at US stores in the past year. The study highlighted challenges of complying with the US law aimed at blocking imports of cotton linked to forced labour in China. The study was […]

Economy

Bangladesh Has Potential To Become Asian Tiger: US Envoy

Textile Insights May 13, 2024

US Ambassador to Bangladesh Peter Haas has stressed the necessity for Bangladesh to take bold steps in order to prosper as a country, but also added that Bangladesh has potential to become an Asian Tiger. “In order to become prosperous, Bangladesh must then take bold steps to expand economic, political, and legal freedoms for its […]

Export

Chinese Textile & Apparel Exports Fall 3.12% In Jan To April

Textile Insights May 11, 2024

China’s textile and apparel exports amounted to US $23.934 billion in April 2024, a year-on-year decline of 3.12 percent, data from the Chinese Customs informed. Of which, exports of textiles stood at 12.190 billion in April, down 2.36 percent, while overseas shipments of garments amounted to $11.744 billion, a year-on-year fall of 3.90 percent. In […]