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

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 […]

Industry

Elgi Equipments Introduces Women Managed Assembly Line

Textile Insights July 13, 2023

Coimbatore based Elgi Equipments has introduced assembly lines which is managed by women only at the Elgi Air Center in Coimbatore. Twenty young women are managing operations at the airend assembly line, encapsulated airend assembly line, and the Elgi new generation compressor top block assembly line, delivering over 150 airends and top blocks daily. These […]

Industry

Lectra Launches New Generation Of Intelligent Equipment

Textile Insights July 12, 2023

Lectra has launched a new generation of intelligent, connected low-ply equipment for the fashion industry, VectorFashion iX2 and VectorFashion Q2. “They are particularly well suited to ensuring a quick, easy transition from small-volume production to larger order volumes, while maintaining optimal cutting quality,” Lectra said in a press release. “Developed with an

Industry

Messe Frankfurt Estimates 2023 Sales Touching €600 million

Textile Insights July 11, 2023

International trade fair organiser Messe Frankfurt expects current year sales to touch €600 million, if everything continues in positive vein. “We expect another positive operating earnings performance in 2023. And we will be on track for an estimated €600 million in sales,” Wolfgang Marzin, President and CEO at Messe Frankfurt said. “Financial year 2023 is […]

Industry

Rieter Selling No Longer Required Land In Winterthur

Textile Insights July 10, 2023

Switzerland headquartered and spinning machinery manufacturer Rieter AG, is selling the land, that is no longer required for operations at its Klosterstrasse plant in Winterthur, to Allreal also from Switzerland. Allreal will take over the land covering a total area of around 75,000 square metres at an agreed price of CHF 96 million, with the […]

Industry

ABB India Contributes To Growth Of TN Textile & Garment Sector

Textile Insights July 8, 2023

ABB India, a technology company said it is actively contributing to the sustainable growth of Tamil Nadu and that its energy-efficient motor and drive solutions are playing a pivotal role in driving the transition towards a greener and more sustainable future. In the textile industry, ABB has supplied over 3,000 energy-efficient motors and drives to […]

Industry

170 Tamil Nadu Open-End Spinning Mills Stop Production

Textile Insights July 6, 2023

Around 170 open-end spinning mills in Tamil Nadu stopped production by going on an indefinite strike citing various reasons including hike in power tariffs and increase in waste yarn prices, which have led to hike in production costs. “Open-end spinning mills are dependent on waste cotton from spinning mills and fabric waste from knitwear companies. […]

Industry

India Actively Considering CEPAs & FTAs – Piyush Goyal

Textile Insights June 27, 2023

Piyush Goyal, Union Minister of Textiles informed that India is actively considering the possibility of Comprehensive Economic Partnership Agreements (CEPAs) and Free Trade Agreements (FTAs) with various countries. He said that these agreements aim to enhance the market size and facilitate exporters and by entering into these agreements, India aims to tap into new markets,