Event

TAI Delhi Organises 77th All India Textile Conference

Textile Insights May 11, 2024

The 77th All India Textile Conference organised by the Textile Association (India) – Delhi was held in March at IIT-Delhi under the theme of ‘Post-Pandemic on Global Vision of Textile Industry’. The conference was inaugurated by Chief Guest Madhu Sudhan Bhageria, Chairman of Filatex India,

Export

US Apparel Imports Drop 7.14% In First Three Months Of 2024

Textile Insights May 11, 2024

“In the first three months of ongoing year, overall US apparel imports dropped 7.14 per cent, falling to US $18.07 billion from $19.46 billion in the same period of 2023,” data from OTEXA informed. In contrast, US imports of garments from Bangladesh declined higher at 17 percent to $1.75 billion in the first quarter of […]

Fibre

Lycra Makes Further Progress In Production Of Bio-Derived Spandex

Textile Insights May 11, 2024

Manufacturer of spandex fibres, The Lycra Company has made further progress in manufacturing of bio-derived Lycra fibre made with Qira. The company has signed a letter of intent with Dairen Chemical Corporation (DCC) to convert Qira, which is 1,4-butanediol (BDO) into low-impact PTMEG, the main ingredient in bio-derived Lycra fibre. “Dairen will be the first […]

Corporates

India’s Leading Apparel Exporter Orient Craft Is Now Debt-Free

Textile Insights May 11, 2024

Post a one-time restructuring, India’s leading garment manufacturer and exporter Orient Craft Limited, has become debt free. The restructuring was done post the Covid pandemic induced financial stress. The Sudhir Dhingra led company worked closely with a consortium of 11 banks to successfully monetise its marquee land and factory assets to pay-off a total debt […]

Corporates

Indorama Ventures ESG Performance Upgraded From ‘A’ To ‘AA’

Textile Insights May 11, 2024

MSCI has upgraded rating of Indorama Ventures from ‘A’ to ‘AA’ for its Environmental, Social, and Governance (ESG) performance towards achieving its ongoing sustainability goals and commitments. Morgan Stanley Capital International (MSCI), a leading provider of research-driven analytics ranked Indorama Ventures among the top 12 percent of 57 global companies in the

Cotton

Significant Gains In Environmental Performance Of Aussie Cotton

Textile Insights May 10, 2024

The results of a new comprehensive independent assessment of the environmental performance of Australia’s cotton industry have been released revealing significant gains, and areas for improvement. This latest assessment undertaken by GHD, a global professional services company focused on sustainability at the request of Cotton Australia and other stake holders. The

Industry

Indonesian Textile & Apparel Sector Witnesses Growth In April

Textile Insights May 10, 2024

The Indonesian textile industry has shown encouraging growth in April 2024, overcoming the challenges like unprecedented hike in imported textiles and a decline in domestic demand some time ago. This was conveyed in the latest release of the Industrial Confidence Index (IKI) by the Ministry of Industry. Spokesperson for the Ministry of Industry, Febri Hendri […]

Industry

Chinese Listed Textile Companies Achieve Good Growth In Q1

Textile Insights May 10, 2024

In the first quarter of this year, Chinese stock exchange listed textile manufacturing companies achieved a collective operating income of approximately Yuan 30.95 billion, up 9.8 percent year on year. Total net profit of these companies stood at Yuan 1.79 billion in the first three months of 2024, a year-on-year increase of 20.32 percent,” China […]

Export

BGMEA Seeks Incentives Post LDC To Reach $100bn Target By 2030

Textile Insights May 10, 2024

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said the industry will meet target of US $100 billion by 2030, if the government supports industry post LDC graduation in 2026. According to BGMEA President SM Mannan, the apparel industry seeks an alternative support by way of cash incentives after Bangladesh graduates from least developed country […]

Financial Results

Net Profit At Century Textiles Plummets 97% In Q4FY’24

Textile Insights May 10, 2024

Century Textiles & Industries Ltd posted a 97 percent drop in net profit to Rs 4 crore for the fourth quarter ended March 31, 2024 compared to Rs 145 crore in the year ago quarter. However, revenues in the January to March 2024 quarter grew 60 percent to Rs 1,542 crore, up from Rs 965 […]