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Industry

Tirupur Dyeing Industry Delegation Visits Gujarat To Explore Tech Advancements

August 16, 2023

The Tirupur dyeing industry is set for a boost, fueled by recent interactions with industry experts in Gujarat. A delegation from the Dyers Association of Tirupur led by President Atul P. Gandhirajan and Treasurer B. A. Madeshwaran, visited Gujarat to explore technological advancements. During

Cotton

Global Cotton Output Down 2.7 Million Bales In 2023-24

Textile Insights August 14, 2023

In the latest report released by US Department of Agriculture (USDA), the agency has forecast global cotton production to fall by more than 2.7 million bales (One bale = 480 lbs) to 114.1 million bales in 2023-24. USDA attributed this fall in cotton production to lower cotton crop in US and Uzbekistan. USDA also revised […]

Financial Results

Q1FY’24 EPS More Than Halves At Winsome Industries

Textile Insights August 14, 2023

Earnings per share (EPS) more than halved to Rs 2.32 in the first fiscal quarter ending June 30, 2023 at Winsome Textile Industries as against Rs 5.23 in the comparable quarter of fiscal 2023. The Himachal Pradesh based spinner reported total income of Rs 207.54 crores during the period under review, down 6.23 percent vis-à-vis […]

Export

July Bangla Garment Exports Rise Sharply By 17.43%

Textile Insights August 14, 2023

During the first month of fiscal 2024, Bangladeshi garment exports rose sharply by 17.43 per cent to US $3.95 billion, up from $3.37 billion dollars in July 2022. Of this, woven garment shipments grew 11.54 percent in July 2023 and totaled $1.68 billion from $1.51 billion in July 2022, while knitwear export grew year on […]

Sustainability

Boost Textile Recycling By Withdrawing Two Stage VAT – BTMA

Textile Insights August 14, 2023

The Bangladesh Textile Mills Association (BTMA) demanded the withdrawal of a two-stage value-added tax (VAT) on the purchase of textile waste from domestic market and also on production of recycled cotton yarn from the waste. BTMA urged the National Board of Revenue (NBR) to introduce a new harmonised system (HS) code for recycled cotton fibre […]

Corporates

Reliance To Invest Rs 7,000 Crores in Alok Industries

Textile Insights August 14, 2023

Mukesh Ambani led Reliance Industries Ltd (RIL) has plans to invest Rs 7,000 crores in the current fiscal in Alok Industries, a textile manufacturer and which is one of RIL’s subsidiaries. The Rs 7,000 crores investment is part of an Rs 14,000 crores investment, which the biggest Indian corporate company has planned to invest in […]

Industry

AEPC And Sarvada Legal Collaborate For Apparel Sector Webinar On Emerging Non-Tariff Barriers

August 13, 2023

The Apparel Export Promotion Council (AEPC), in conjunction with Sarvada Legal, organized a significant webinar addressing the theme of “Emerging Non-Tariff Barriers in the Apparel Export Sector.” The primary objective of the webinar was to raise awareness within the apparel industry concerning issues associated with Non-Tariff Barriers (NTBs). A notable

Corporates

Aitken Spence Apparel Acquires Hong-Kong Based Knit Manufacturer in Sri Lanka

August 13, 2023

In a significant move that underscores its commitment to expansion and innovation, Aitken Spence Apparel has announced the successful acquisition of a prominent Hong-Kong based company. This strategic step solidifies Aitken Spence Apparel’s position as a dynamic player in the global textile industry. The acquired company, a distinguished leader in circular knit

Industry

Empowering Diversity: Eastman Exports Achieves Majority Female Workforce

August 13, 2023

Eastman Exports has announced a significant stride as its workforce becomes predominantly female. With over 18,000 employees across 35 factories, approximately 70% are women, driving the company’s success and innovation. Chairman N. Chandran attributes Eastman Exports’ accomplishments to this diverse and talented workforce. The company’s commitment to an

Corporates

Piotex Ventures Partners With Titan Textile Machines For India Market

August 13, 2023

Titan Textile Machines of Spain, a globally recognized player in the textile machinery sector spanning across 40 countries, has officially designated Piotex Ventures as its exclusive sales and service partner for the Indian market. Piotex Ventures is enthusiastic about introducing Titan’s product range to India, aiming to revolutionize weaving processes and enhance

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