News - Textile Insights - Page 408

Policies

Finance Ministry May Tweak 45 Days Payment Rule for MSMEs

Textile Insights March 2, 2024

The government is actively reviewing the concerns of stakeholders and assessing whether there are valid grounds for amendments to this 45-days payment rule for MSMEs. The Union Finance Ministry is contemplating a revision to a recent tax regulation requiring businesses to settle payments to

Cotton

“Avoid Panic Cotton Buying” – SIMA Advises Spinning Mills

Textile Insights March 2, 2024

Following a steep increase in cotton prices, particularly the Shankar-6 variety in the last two weeks, the Southern India Mills’ Association (SIMA) advised spinning mills to avoid panic buying. According to Dr SK Sundararaman, Chairman, SIMA, cotton prices have increased by 10-12 percent within 15 days and created a panic situation across the textile value […]

Industry

Seven Apparel Projects Receive Approval From Odisha Government

Textile Insights March 1, 2024

Seven apparel manufacturing units received project approval letters from the Odisha government, which will be set up in the garment cluster of Khurda. “They were attracted by Odisha’s conducive business environment, stable government, swift approvals, and seamless land allotment process,” an Odisha government press release said. “With the best incentive structure for

Industry

MoU To Promote Upcycled Products Made From Textiles Waste

Textile Insights March 1, 2024

A tripartite Memorandum of Understanding (MoU) was signed at the just concluded Bharat Tex 2024 for the promotion of upcycled products made from textiles waste and scrap. The MoU was signed by the Textiles Committee, Government e Marketplace (GeM), Ministry of Commerce and Industry, and Standing Conference of Public Enterprises (SCOPE), Department of Public Enterprises.

Sustainability

Apparel Sector Working On Sustainable Practices: AEPC

Textile Insights March 1, 2024

Apparel Export Promotion Council (AEPC) said the sector is working on sustainable manufacturing practices as it would help enhance the competitiveness in global markets. “The mantra given by Prime Minister Narendra Modi to boost textiles exports through 5F – Farm, Fibre, Factory, Fashion to Foreign will energise the textiles export sector,” AEPC Chairman Sudhir Sekhri […]

Industry

China’s Cotton Textile Prosperity Index Improves In January

Textile Insights March 1, 2024

China’s Cotton Textile Prosperity Index continued to improve and stood at 50.9 percent in January 2024, up 0.2 percentage points over December 2023. Among the seven sub-indexes that make up the China Cotton Textile Prosperity Index, the raw material procurement index, raw material inventory index, and product sales index increased in January. However, the production

Machinery

Epson To Shred Hard-To-Recycle Fabrics With New Technology

Textile Insights March 1, 2024

Epson plans to use its proprietary Dry Fiber Technology to establish technology for defibrating hard-to-recycle fabrics and expand real-world fibre recycling. ‘To this end, Epson entered into a joint development agreement with The Hong Kong Research Institute of Textiles and Apparel Limited (HKRITA),” Seiko Epson said in a press release. HKRITA is a Hong Kong-based […]

Sustainability

Sustainable Apparel Coalition Renamed As Cascale

Textile Insights March 1, 2024

The Sustainable Apparel Coalition (SAC), a global nonprofit alliance that empowers collaboration to drive equitable and restorative business practices has been rebranded as Cascale. Cascale spans over 300 retailers, brands, manufacturers, governments, academics, industry associations, and NGOs/nonprofits around the globe. “Cascale’s members are united by a singular vision:

Machinery

LMW Showcases Excellence & Innovation At Bharat Tex 2024

Textile Insights February 29, 2024

LMW’s prominent presence at Bharat Tex 2024 showcased the company’s unwavering commitment to excellence and innovation in the textile industry. Positioned at the forefront of Pragati Maidan, New Delhi, LMW’s stall emerged as a focal point for industry professionals seeking cutting-edge solutions and expertise in spinning technology. A particular highlight

Export

Bangladesh Faces $27bn Apparel Export Hit From Extreme Weather

Textile Insights February 29, 2024

Bangladesh could lose a massive $27 billion in yearly apparel exports by 2030, if the country does not adopt a climate-adaptive approach due to high heat and floods. Around 2.5 lakh employees working in the garment sector are forecast to lose jobs due to climate-induced disruptions by 2030. This was the interpretation of a study […]

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