Industry

Informal Workforce Aspires To Transit Into Formal Ecosystem

August 11, 2023

Quess Corp Ltd, India’s leading business service provider, has published the ‘New Collar Generation Report’ which uncovers the aspirations of India’s informal economy post-pandemic. The report reveals that a majority of workforce in India is still without any social security coverage, and their

Industry

Empowering Early-Stage Entrepreneurs: Unveiling The Startup India Seed Fund Scheme

August 11, 2023

The Startup India Seed Fund Scheme offers a targeted solution to the financial challenges faced by early-stage startups, enabling them to focus on developing their ideas and accelerating their journey to becoming successful and sustainable businesses, says S. Periasamy. Early-stage startups face significant challenges in accessing the necessary financial resources to

Industry

Robot For Industrial Laundries Startup Bags €7 million financing

Textile Insights August 10, 2023

German industrial automation startup Sewts, which has launched Velum – a robot designed to help industrial laundries overcome labour shortages and strengthen operating efficiencies has closed a €7 million series A financing round. The funding round was led by Emerald Technology Ventures, CNB Capital, EquityPitcher Ventures and Nabtesco Technology Venture as new investors.

Industry

NITI Aayog Will Examine Inverted Duty Structure On Textiles

Textile Insights August 9, 2023

NITI Aayog, a government think-tank will examine tax-related issues, including inverted duty structure in three sectors of textiles, leather and engineering. “The issues will be taken up with higher authorities for finding a resolution and in turn promote growth of the sectors,” Economic Times quoted an official as saying. The inverted duty structure refers to […]

Industry

Tiruppur Hosiery Body Seeks Curbs On Bangla Garment Imports

Textile Insights August 8, 2023

The South India Hosiery Manufacturers’ Association (SIHMA) has called upon the central government to take measures in curbing apparel imports from Bangladesh. Additionally, the association highlighted the need to impose restrictions on raw cotton exports once the new cotton season begins from October 1. In a memorandum, AC Eswaran, President of SIHMA said around 40 […]

Industry

Smuggling Of Textiles & Clothing Kill Nigerian Textile Sector

Textile Insights August 8, 2023

Smuggling of textiles and garments through Nigeria’s land borders, has led to the closure of over 150 textile companies in the last few decades. The closure of the Nigeria and Niger road border has left several trucks stranded on the border, which are carrying smuggled and cheap textiles This was revealed by the Director-General of […]

Industry

Pakistani Textile Industry On Ventilator Support

Textile Insights August 7, 2023

Difficulties in the Pakistani textile industry, which accounts for 60 percent of Pakistan’s overall exports has been seriously affected by multiple factors in the last few years. They include the Covid-19 pandemic, slowdown in orders from the US and the EU, rise in energy costs, critical state of the economy and months of political chaos […]

Industry

MoT Initiative To Provide Aadhar-Linked Pehchan Cards To Handicraft Artisans

August 6, 2023

In a significant move to empower and support handicraft artisans, the Office of Development Commissioner (Handicrafts), Ministry of Textiles (MoT), has launched a pioneering initiative to provide Aadhar-linked Pehchan cards to 31.14 lakh artisans across the country. The move aims to streamline the identification process and enable artisans to access various government

Industry

Bangla Skills Training & Smart Textiles Gets $300mn Boost

Textile Insights August 4, 2023

The Asian Development Bank (ADB) has approved a $300 million loan to strengthen the skills base and training programs for Bangladesh’s workforce. The program will build the institutional capacity of training institutions to deliver advanced skills training with technology applications, such as smart textile technologies and green technologies. “The economy of Bangladesh

Industry

Indian Viscose Staple Yarn Sector Revenue To Hit All Time

Textile Insights August 4, 2023

Revenue of the Indian viscose staple yarn (VSY) industry will witness a growth of 10-12 percent in the current fiscal and is expected to hit US $2.5 in total revenues or all time high in the current fiscal. A CRISIL Ratings report attributed this growth to continuing of the strong demand from the previous fiscal. […]