Industry

Closed Bangla Jute Mills Will Be Converted In To Textile Units

Textile Insights July 22, 2023

Bangladesh Jute Mill Corporation (BJMC) will now allow even textile mills and factories to be set up in the state owned jute mills which were closed down a few years ago due to mounting losses. The Bangladesh government had shutdown 25 state owned jute mills in one stroke due to recurring

Industry

Indian Cotton Yarn Sector To Witness 5-7% Growth In FY’24

Textile Insights July 22, 2023

Indian cotton yarn industry is likely to witness 5-7 percent year on year growth in sales volume, while the operating margin is expected to expand by 100-150 bps from a year ago in fiscal 2023-24. “Factors contributing to this improvement include the alignment of Indian cotton prices with international prices and a shift in demand […]

Industry

TN Textile Ministry Calls Meeting Of Spinning Sector Stakeholders

Textile Insights July 21, 2023

A meeting of all Tamil Nadu Spinning Mill Associations has been called by the Tamil Nadu Ministry of Handloom and Textiles to resolve the issues of the spinning mill industry. It may be recalled that the open-end and MSME spinning mills in the stake had stopped production from July 15 in protest against various issues […]

Industry

CM Stalin Puts Up Three Demands To Revive TN Spinning Sector

Textile Insights July 20, 2023

Tamil Nadu Chief Minister MK Stalin has demanded scrapping import duty of 11 percent on raw cotton imports, banning waste cotton exports and restructuring the Emergency Credit Line Guarantee Scheme (ECLGS). In a letter to PM Narendra Modi, Stalin said these three measures are needed to help revive spinning mills mainly in the MSME category […]

Industry

Quality Control Order On Polyester Yarn Deferred Till Oct 5

Textile Insights July 19, 2023

The government of India has announced extension of implementation of Quality Control Order (QCO) on 100 percent polyester spun grey and white yarn till October 5, 2023. Earlier, the deadline was extended till June 30, 2023, but the government did not issue any notification to extend it further, due to which it became effective from […]

Industry

Imported Second Hand Clothing Mars East African Textile Sector

Textile Insights July 18, 2023

Despite East Africa having a massive capacity to produce cotton textiles and garments thanks, to availability of raw materials and a workforce, the region scores relatively low in consumption of local textile products. According to the Kenya Institute for Public Policy Research and Analysis (KIPPRA), 70 percent of Kenyan garment manufacturing companies sell about 80 […]

Industry

Indian Textile Industry Witnessing Unparalleled Financial Crisis

Textile Insights July 18, 2023

The Indian textiles and garment industry is witnessing an unparalleled financial crisis due to various reasons and which have disrupted exports of yarns, fabrics and garments to the main markets of the US and EU. The reasons include the prolonged Russian-Ukraine war, higher inflation, slow-down in global economy, 11 percent import duty levied on cotton […]

Industry

Cotton Spinning Operating Margins Will Expand To 11.5-12.0% – ICRA

Textile Insights July 18, 2023

Operating margins for the Indian cotton spinning industry will expand 50-100 bps to 11.5-12.0 percent in the current fiscal ending March 2024, despite an expected 7 percent decline in revenues. Due to an improvement in orders from the downstream garment companies gearing up for Spring/Summer season of 2024 in the US and EU, demand is […]

Industry

TN Textile Mill Workers Demand Rs 26,000 Monthly Wage

Textile Insights July 17, 2023

The All India Trade Union Congress (AITUC), a workers trade union has demanded a monthly wage of Rs 26,000 per month for textile mill workers in Tamil Nadu. AITUC‘s Erode district president S. Chinnasamy in a letter cited rising cost of commodities like food, transportation, electricity, clothing and other costs for demanding the wage hike. […]

Industry

Tamil Nadu MSME Spinning Mills To Stop Production From July 15

Textile Insights July 14, 2023

MSME spinning mills in Tamil Nadu have unanimously decided to stop production and sales of yarn from July 15, 2023, due to heavy losses suffered by the spinning industry. This decision was taken at an emergency meeting of MSME Spinning Mills Associations’ held on July 12. Members of the South India Spinners Association (SISPA) and […]