Industry

Net Profits Of Major Chinese Textile Firms Grows 7.2% In 2023

Textile Insights February 5, 2024

Net profits of major Chinese textile companies rose 7.2 percent year on year to Yuan 180.2 billion in the previous year. “The collective operating revenue of these textile enterprises amounted to Yuan 4.70 trillion in 2023, down 0.8 percent over 2022,” data of the Ministry of Industry and

Industry

HeroWear Exosuits Increase Workplace Productivity By 8%

February 4, 2024

HeroWear, a leading manufacturer specializing in soft, textile-based exoskeletons known as exosuits, released a new industry report demonstrating an 8% increase in productivity through the use of their technology. Conducted in collaboration with an international grocery retailer, the study also revealed a 30% reduction in work-related lower back discomfort and a 39%

Industry

Karur Textile Manufacturer Exporters’ Association Launches First Merchandiser Course

February 4, 2024

The Karur Textile Manufacturer Exporters’ Association (KTMEA) achieved another milestone in its dedicated service to the home textile industry with the inauguration of the first batch of the Merchandiser course. The momentous event took place at KTMEA’s Training Centre on February 1, 2024, with the President M. Nachimuthu leading the inauguration ceremony. The

Industry

CITI Welcomes 27.6% Hike In Textile Sector Budget Allocation

Textile Insights February 2, 2024

Confederation of Indian Textile Industry (CITI) welcomed the budget allocation for textiles which has increased by 27.6 percent, largely due to the allocation of Rs 600 crore for Cotton Corporation of India (CCI) towards cotton MSP operations. CITI Chairman Rakesh Mehra expressed hope that the cotton procurement will be as per revamped policies recommended by […]

Industry

HMX, Business Unit Of A.T.E. Group Inaugurates Second Unit

Textile Insights January 31, 2024

HMX (a Business Unit of A.T.E. Group) announced the opening of a second manufacturing hall spread over 25,000 square feet in Ahmedabad, India, on January 16, 2024. With this expansion, HMX’s production capacity receives a significant boost which will help us meet the fast-growing global demand for our products. Padma Shri A S Kiran Kumar, […]

Industry

Bangladesh Textile Sector Attracts Nil Investment In 2023

Textile Insights January 30, 2024

The Bangladesh textile industry did not witness any new investments in 2023 due to various internal and external forces, which include a severe shortage of energy and a global economic slowdown. This was informed by Bangladesh Textile Mills Association (BTMA) President Mohammad Ali Khokon at a press conference held on the eve of DTG 2024 […]

Industry

Turning The Wheel: ICRA’s Anticipated Surge In Cotton Demand Creates Buzz In The Industry

Textile Insights January 30, 2024

In a recent research note by ICRA on the domestic cotton spinning industry, the rating agency has anticipated a robust 12-14% growth in demand for FY2024, driven by a surge of 85-90% in yarn exports. This upswing is attributed to a shift in sourcing preferences away from China and heightened expectations of increased demand in […]

Industry

FICCI’s Budget Wish List To Boost Investments, Innovation and MSMEs

January 28, 2024

In anticipation of the Interim Union Budget for 2024-25, the Federation of Indian Chambers of Commerce and Industry (FICCI) has outlined a set of expectations and recommendations covering various aspects of the economy. These proposals are aimed at fostering economic growth, encouraging innovation and simplifying taxation and compliance for businesses. Here are the key

Industry

AEPC Seeks Budgetary Boost For RMG Exports

January 28, 2024

The Apparel Export Promotion Council (AEPC) has submitted crucial pre-budget proposals to the government, focusing on enhancing the competitiveness of Ready-Made Garment (RMG) exports in India. AEPC has emphasized the importance of budgetary support and has suggested key measures to fortify the apparel export sector. Trimmings and embellishments under IGCR Rules: AEPC has

Industry

AEPC Seeks Uniform GST Levies Across MMF Textile Value Chain

Textile Insights January 25, 2024

To boost local manufacturing and also clothing exports, the Apparel Export Promotion Council (AEPC), has sought uniformity in GST levies and more tax incentives in the union budget to be announced on February. “A uniform tax of five percent should be applied to the Goods and Services tax (GST) along the whole manmade fibre (MMF) […]