Industry

Indian Economy Expected To Touch $5 Trillion By Fiscal 2026-27

Textile Insights January 12, 2024

According to a recently released PHD Chambers of Commerce and Industry (PHDCCI) report, the Indian economy is expected to surpass $4 trillion in fiscal 2024-25 and touch $5 trillion by fiscal 2026-27, PHDCCI noted that India is poised to attain the status of a developed economy by 2047 under

Industry

Egypt Set To Open Biggest Spinning Mill With 182,000 Spindles

Textile Insights January 12, 2024

Egypt is all set to inaugurate its largest spinning mill in El Mahalla El Kubra city in February, which has been set up by the Cotton and Textile Industries Holding Co, a government entity. The new project was implemented under the national project for the development of the spinning, weaving, and textile industries, Minister of […]

Industry

Various Tiruppur Textile Groups To Invest Thousands Of Crores

Textile Insights January 11, 2024

At the recent Global Investors’ Meet (GIM) held in Chennai, Tiruppur based textile and garment groups have proposed thousands of crores of investment in the textile and energy sectors. The Ramraj Group signed a MoU to invest Rs 1,000 crores over the next five years at the rate of Rs 200 crore per year to […]

Industry

Trident Shares Deliver Phenomenal Returns Over 10 Years

Textile Insights January 10, 2024

Shares of Trident Ltd have delivered phenomenal returns of 3,600 percent to investors over the last 10 years. “If an investor had purchased Rs 10,000 worth of Trident stock 10 years ago and held onto it, the investment would now be worth almost Rs 4 lakh,” an analysis by ET Markets informed. According to the […]

Industry

Union Govt Taking Steps To Address Uncontrolled Textile Imports

Textile Insights January 10, 2024

The Union Government is taking adequate steps to address the issues of lack of demand and uncontrolled imports in the textiles sector. This was informed by Union Textiles Secretary Rachna Shah in a press conference held in New Delhi. “We are monitoring surges in textile imports which will be addressed, while QCO on textile materials […]

Industry

Indian Textile Industry: Perspectives From 2023 And Hopes For 2024

January 10, 2024

The Indian Textile industry witnessed major challenges in 2023 due to fluctuating cotton prices, diminishing demand, capacity under-utilization and dumping of imported fabrics and garments from China and Bangladesh. Gurudas Aras takes an overview of the industry scenario in 2023 and what needs to be done to pull the industry out of the quagmire in […]

Industry

The Yarn Bazaar Stories Podcast Redefining Textile Industry

January 10, 2024

In an era dominated by rapid digitization, where individuals have transitioned from traditional media to mobile phones for accessing content, the textile industry found itself at an interesting crossroads. Despite the surge in digital platforms, the podcast medium, a growing trend in various sectors, remained relatively unexplored in the textile domain. The inception of

Industry

Iran’s Textile Industry Crisis: 500 Workers Axed As Unrest Grows

January 10, 2024

500 textile workers in Borujerd, Western Iran, have been terminated since the beginning of the current Persian calendar year, starting from March 21. Simultaneously, Moslem Moradi, the governor of Borujerd, has called for a comprehensive audit of the company by provincial auditors. The dismissals in the Borujerd textile industry align with a broader trend where […]

Industry

Inclusion Is Critical To Attract, Engage & Retain Diverse Workforce

January 10, 2024

Boston Consulting Group’s (BCG) new employee satisfaction survey over 11,000 workers in eight countries, including India, Australia, Japan, US, UK, Canada, France and Germany, has found that 28 per cent of workers do not see themselves with their current employer within a year. With 26 per cent of the Indian employees surveyed at risk of […]

Industry

10 Uzbekistan Textile Companies Bag WRAP Certification

Textile Insights January 9, 2024

10 textile companies located in Uzbekistan have obtained the prestigious Worldwide Responsible Accredited Production (WRAP) international standard certificate. “The Uztex group was among the first textile companies in Uzbekistan and Central Asia to receive the WRAP certificate,” according to the Uzbekistan Textile and Garment Industry Association. The WRAP certificate