Industry

Sourcery Adds 10 Indian Textile Mills To Its Programme

Textile Insights December 13, 2023

Sourcery has added ten Indian spinning as well as vertically integrated textile mills, in to manufacture of yarn, apparel, denim and home textiles into its Direct-to-Grower programme as provisional partners. These partners include Markwell Spinning, Thiagarajar Mills, RSB Cottex, Leaspin

Industry

100 Myanmar Garment Factories Fall Prey To Covid-19 Pandemic

Textile Insights December 12, 2023

Around 100 garment manufacturing factories have shutdown in Myanmar since the beginning of the Covid-19 pandemic, which has resulted in export revenues from the sector dropping by about 40 percent. “Out of the almost 700 apparel factories in Myanmar, around 50 closed down in the first wave of the pandemic and another 50 in the […]

Industry

Sanctions On Bangladesh Will Not Be Labour Related

Textile Insights December 12, 2023

If sanctions are imposed by the US on Bangladesh, it would be mainly due to political reasons as against those related to labour issues, was the common concurrence of speakers at a seminar. “The countries that speak about sanctions have ratified just two of the primary International Labour Organisation (ILO) norms, as against eight by […]

Industry

Indian Textile Industry Trends For 2024 & Beyond

December 12, 2023

The textile industry has been an integral part of human civilisation, catering to one of our basic needs – clothing. It is the place where art, technology and commerce intersect to create fabrics that clothe us and furnish our homes, along with myriad other uses we don’t even realise. In recent years, the textile market […]

Industry

Climate Change Effects Happening Far Quicker Than Expected: WEMO Report

December 12, 2023

Capgemini, the leading IT services and consulting major, has published the 25th edition of its annual World Energy Markets Observatory (WEMO), created in partnership with Vaasa ETT and Enerdata. The report takes stock of the current state of the energy transition, revealing that, despite progress being made, greenhouse gas (GHG) emissions are continuing to increase, and

Industry

Bangladesh Textile Industry Seeks Higher Limits Of LC’s

Textile Insights December 11, 2023

Textile mills in Bangladesh have urged the central bank of Bangladesh to raise the limit of letters of credit (LCs) so that they can import more raw materials. The Bangladesh Textile Mills Association (BTMA) sent a letter to Bangladesh Bank requesting for a hike in LC limit last week, in which the trade body also […]

Industry

VDMA: Young Engineers Honoured In Dresden Textile Conference

December 10, 2023

As part of the Aachen-Dresden-Denkendorf International Textile Conference in Dresden, the Chairman of the Walter Reiners Foundation of the VDMA, Peter D. Dornier, presented awards to four successful young engineers. Two promotion prizes and two sustainability prizes were awarded in the Bachelor and Diploma/Master categories. Academic works in which solutions for

Industry

Operating Profits Of Cotton Spinners To Plummet 250-350bps

Textile Insights December 8, 2023

Operating profits of Indian cotton yarn spinners will plummet 250-350 basis points from 10-10.5 percent in the previous fiscal to decadal lows of 7-8 percent in the ongoing fiscal. Crisil Ratings has attributed this to shrinking spread between cotton and cotton yarn, inventory losses and slower than expected pickup in downstream demand. Revenue too, will […]

Industry

Southern Textile Mills Seek Govt Relief Amid Global Recession

Textile Insights December 7, 2023

Several textile associations have sought relief from the central as well as state governments of Tamil Nadu, Andhra Pradesh and Telangana to roll back the power tariff hike and the central government to restrict and monitor galloping imports of various textile raw materials and products. S K Sundararaman, the Southern India Mills Association (SIMA) Chairman […]

Industry

India Positioning Itself As Textile Sourcing & Investment Hub

Textile Insights December 4, 2023

India is positioning itself as a textile sourcing and investment hub through the seven PM-MITRA Parks being set up in various states of India at an investment of Rs 70,000 crores and other schemes. “We are hopeful that these PM MITRA Parks will emerge as growth centres in the textile sector because of foreign investments […]