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Economy

ET MSME Awards: Autotex Wins Top Honor In Electrical & Electronics Category

December 13, 2023

The highly anticipated fifth edition of the ET MSME Awards took center stage with a dazzling Grand Finale and Felicitation Ceremony held on December 11, 2023, in New Delhi. This prestigious event brought together industry leaders, entrepreneurs, and visionaries to celebrate the remarkable

Corporates

Thomas Oetterli Proposed As New Chairman Of Rieter

December 13, 2023

Bernhard Jucker will not stand for re-election as Chairman of the Board of Directors at the next Annual General Meeting on April 17, 2024, having reached the age limit. The Board of Directors would like to thank Bernhard Jucker for his outstanding and valuable commitment. During his term of office, he has successfully developed the company […]

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 Textiles, Sustainable Spinning & Commodities, L.S. Spinning Mills, SA Aanandan

Export

UK & EU FTA’s Will Be Game Changers: AEPC Chairman

Textile Insights December 13, 2023

The Apparel Export Promotion Council (AEPC) Chairman Narendra Goenka has expressed enthusiasm regarding the proposed free trade agreement with both the United Kingdom and the European Union. “The FTA will be a game changer for the industry,” Goenka said, while emphasising the significant advantages the agreement would offer apparel exporters. Goenka informed that talks

Export

Panipat Yarn Production Slumps 50% From Export Slowdown

Textile Insights December 13, 2023

With a slowdown in Indian textile finished product exports, the yarn industry in Panipat, is also experiencing a crisis, due to which spinning mills have reduced production by 50 percent. Around 40 lakh kg yarn was being produced in Panipat, which due to a poor demand from overseas markets; production has now slumped to 20 […]

Cotton

Uzbekistan’s Cotton Production Hits Record Highs In 2023

Textile Insights December 13, 2023

Uzbekistan’s cotton production has reached a record high of 3.8 million tons, an increase of 8.3 percent as against the earlier year. This information was shared by Uzbek President Shavkat Mirziyoyev in a statement on the occasion of Agricultural Workers’ Day. Uzbekistan is the sixth largest cotton producer in the world, after China, India, the […]

Cotton

India Faces Severe Cotton Seed Scarcity In Next Season

Textile Insights December 13, 2023

India is expected to face a severe scarcity of cotton seeds in the next cotton season as there has been a 30-40 percent drop in seed production this year and there is not much surplus to offset the loss. “Only preventive policy action can help avert reduced acreage next year,” the Hindu Businessline quoted experts […]

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 […]

Machinery

215 Customers Visit Karl Mayer Product Show In China

Textile Insights December 12, 2023

Karl Mayer showed what pioneering technologies for warp knitting looks like, at a product show on the sidelines of ITMA Asia at its plant in Changzhou City. A whole range of brand new machines made their debut at the industry get-together, including a multifunctional Rascheltronic with maximum flexibility. Also on show was a Textronic Lace, […]

Export

If US Imposes Sanctions, Garment Buyer Will Not Take Delivery

Textile Insights December 12, 2023

A US based fashion garment buyer has issued a letter of credit (LC) to a Bangladesh garment exporter, with the condition, that it will not pay the amount or take delivery, if US enforces sanctions on Bangladesh. As per Prothomolo, this development was confirmed by Faruque Hassan, President of the Bangladesh Garment Manufacturers and Exporters […]

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