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

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 […]

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, while Anil Jain, Chairman of Jain Cord Group of Industries […]

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 […]