Industry

Indian Viscose Staple Yarn Sector Revenue To Hit All Time

Textile Insights August 4, 2023

Revenue of the Indian viscose staple yarn (VSY) industry will witness a growth of 10-12 percent in the current fiscal and is expected to hit US $2.5 in total revenues or all time high in the current fiscal. A CRISIL Ratings report attributed this growth to continuing of the strong demand from

Industry

NITI Aayog Meets Textile Bodies To Resolve Tax Hurdles

Textile Insights August 1, 2023

India’s government think tank NITI Aayog recently met with industry bodies from various sectors including those from the textile sector to resolve tax related issues facing the industry. The meeting was attended by representatives of various textile associations like CITI, PDEXCIL, CMAI, SIMA, TEXPROCIL, etc. Issues like the inverted duty structure in the MMF value […]

Export

Global Textile Sector In Need Of Demand Revival

Textile Insights July 31, 2023

As the economy is expected to rebound in the United States followed by Europe, global textiles industry is in the need of demand revival. The past eighteen months has witnessed rocky economic climate showing anomalies such as high inflation, strong labour market and weak consumer demand. The textiles sector in India has been hit hard […]

Industry

183,844 Beneficiaries Trained Under Samarth Scheme

Textile Insights July 27, 2023

In a written reply, Minister of State for Textiles Darshana Jardosh informed Lok Sabha that during the last three years and the current year, 183,844 beneficiaries have been trained under the Samarth scheme. The written reply added that 1,880 textiles training centres are operating in the country under the scheme as on 20 July, 2023. […]

Industry

CM Stalin Puts Up Three Demands To Revive TN Spinning Sector

Textile Insights July 20, 2023

Tamil Nadu Chief Minister MK Stalin has demanded scrapping import duty of 11 percent on raw cotton imports, banning waste cotton exports and restructuring the Emergency Credit Line Guarantee Scheme (ECLGS). In a letter to PM Narendra Modi, Stalin said these three measures are needed to help revive spinning mills mainly in the MSME category […]

Policies

Textiles Ministry To Keep PLI Portal Open Till Aug 31

Textile Insights July 19, 2023

The Ministry of Textiles has decided to keep the PLI Portal open till August 31, 2023 for inviting applications from interested companies under PLI scheme of Textiles for MMF Apparel, MMF Fabrics and products of Technical Textiles. In a notification dated July 18, the Ministry of Textiles stated that it did so, considering numerous requests […]

Industry

Indian Textile Industry Witnessing Unparalleled Financial Crisis

Textile Insights July 18, 2023

The Indian textiles and garment industry is witnessing an unparalleled financial crisis due to various reasons and which have disrupted exports of yarns, fabrics and garments to the main markets of the US and EU. The reasons include the prolonged Russian-Ukraine war, higher inflation, slow-down in global economy, 11 percent import duty levied on cotton […]

Textile Park

Gujarat Govt., Centre Sign MoU For PM MITRA Textile Park In Navsari

July 14, 2023

The Gujarat government and the Centre signed a memorandum of understanding on July 13, 2023, to establish the PM MITRA textile park in Navsari district. Covering a vast 1,141 acres of land in Vansi-Borsi village, this ambitious project aims to foster a circular economy in the region. The PM Mega Integrated Textile Regions and Apparel […]

Policies

Textiles Ministry Offers 5% Higher Support To SAMARTH

Textile Insights July 12, 2023

The textiles ministry has empanelled 43 new implementing partners under the Scheme for Capacity Building in Textiles Sector (SAMARTH), with an additional training target of 75,000 beneficiaries and 5 percent increment in support to implementing partners. Under SAMARTH, the government of India has partnered 157 textile industries, trade associations and various central and

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,