News - Textile Insights - Page 416

Apparel, Fashion, Retail

CMAI Anticipates Rs 5,000-7,000 Crore Loss To Apparel Sector

Textile Insights February 20, 2024

Indian MSME apparel manufacturers may face a loss of Rs 5,000-7,000 crore in the January-March quarter according to the Clothing Manufacturers Association of India (CMAI). CMAI said an amendment in the Income Tax Act states that payments to MSMEs need to be made within 45 days. CMAI claimed

Cotton

High Price Bids For CCI Cotton Irks South Indian Textile Mills

Textile Insights February 19, 2024

The President of the AP Textile Mills Association Koti Rao has alleged that the price of cotton sold by the Cotton Corporation of India (CCI) went up to Rs 62,000 a candy of 356 kg each. “A few people have hiked the prices when they bid for cotton sold by the CCI. But the viable […]

Apparel, Fashion, Retail

ABFRL To Launch Its Artisanal Lifestyle Brand Jaypore In US

Textile Insights February 19, 2024

Aditya Birla Fashion and Retail Ltd. (ABFRL) will partner Ingenuity, an ecommerce solution provider to launch Jaypore, an ABRFL brand in the US market. This collaboration is geared towards enabling the Aditya Birla Group company to expand its direct-to-consumer (DTC) presence on a global level. Jaypore is an artisanal lifestyle brand that offers curated collections […]

Export

Kuwait Based NRI To Import Uzbek Traditional Dresses For Women

Textile Insights February 19, 2024

A Kuwait based non-resident Indian (NRI), Anupam Jain has expressed interest in importing Uzbekistan traditional dresses for women Towards this end, a meeting was held between Uzbekistan embassy officials in Kuwait and Anupam Jain who owns Gulf Mysore General Trading Company. “Anupam Jain, who moved from India to Kuwait, has opened several Indian heritage stores […]

Policies

Karnataka To Formulate New Textile Policy 2024-29

Textile Insights February 19, 2024

In his budget speech, Karnataka CM Siddaramaiah said government will formulate a new textile policy 2024-2029 for the development of the textile sector as the earlier textile policy 2019-2024 ends this year. “This policy will also promote greater investment and employment opportunities. We expect a capital investment of Rs 10,000 crore, which will generate 200,000 […]

Industry

Odisha CM Lays Foundation Stone For Rs 3,000cr Welspun Plant

Textile Insights February 19, 2024

Odisha Chief Minister Naveen Patnaik on Saturday laid the foundation stone for the Rs 3,000-crore Welspun Group’s Integrated Textiles Manufacturing Facility and Warehousing Complex. The facility coming up in Choudwar in Cuttack district is expected to create 10,000 employment opportunities and will also create business opportunities for local industries. A team of

Textile Park

Narendra Modi To Lay Foundation Stone Of Navsari PM-MITRA Park

Textile Insights February 19, 2024

Prime Minister Narendra Modi will lay the foundation stone of the Prime Minister Mega Integrated Textile Regions and Apparel (PM MITRA) Park on February 22 in Navsari district of Gujarat. The PM MITRA Park in Navsari which was conceptualised in July 2023 spans 1,142 acres and is expected to attract substantial investments and generate employments […]

Corporates

Piyush Goyal Welcomes Epic Group’s US$100 Million Investment In Odisha

February 19, 2024

In a significant stride towards bolstering India’s manufacturing prowess, Epic Group’s Executive Chairman Ranjan Mahtani and Aryan Mahtani met Piyush Goyal, Minister of Commerce and Industry of India. The focal point of discussion was Epic Group’s ambitious blueprint to channel a US$ 100 million investment into Odisha, India, for the establishment of an

Corporates

Globe Textiles To Acquire Globe Denwash For Propelling Growth In Sustainable Fashion

February 19, 2024

Globe Textiles India Ltd (GTIL), a leader in the textile industry, has revealed plans for an acquisition aimed at propelling its growth trajectory and reinforcing its commitment to sustainability. The acquisition of Globe Denwash Pvt Ltd will be facilitated through the purchase of shares, marking a significant step in GTIL’s forward integration strategy. The

Corporates

HeiQ Names Julien Born CEO For Climate-Positive Fibre Venture

February 18, 2024

HeiQ has announced the appointment of Julien Born as the CEO of HeiQ AeoniQ Holding, an independent subsidiary established to attract investors and value-chain partners. With an ambitious multi-year plan to scale up the world’s first climate-positive cellulosic filament fibre, this move signals a significant step forward. Bringing with him unique executive leadership

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