Industry

India Has Capability To Become World’s Biggest Textile Hub: Goyal

Textile Insights September 2, 2023

India has the capability to become the world’s biggest textile hub and the Indian textile sector has done commendable work, but should multiply their efforts, as a lot still needs to be achieved. This was said by Chief Guest and Textile Minister Piyush Goyal, while delivering the keynote

Industry

Indian Textile Sector Will Regain Lost Glory: Piyush Goyal

Textile Insights September 1, 2023

The Indian textile sector will regain its lost glory and Tamil Nadu is going to be the vanguard of the revival. This was informed by Minister for Textiles Piyush Goyal, while speaking at the office of the Southern India Mills’ Association in Coimbatore. “Most developed countries are facing economic challenges. But I feel proud to […]

Policies

India May Announce Incentives For Textile & Garment Sector

Textile Insights August 24, 2023

The government of India may announce fiscal incentives for the ailing textile and garment by this year-end, which has been impacted by decline in export orders. According to media reports, the incentives may be provided under the production linked incentive (PLI) scheme that the government offers, to boost manufacturing in various sectors. Referring to industry […]

Corporates

KPR Mill Investing Rs 400 Crores in Expansion & Modernisation

Textile Insights August 22, 2023

Coimbatore based and one of India’s biggest vertically integrated textile mills, KPR Mill Ltd is planning to invest Rs 400 crores in modernisation and expansion of its production facilities KPR Mill which has footprints spanning across yarns, fabrics, garments and sugar will invest Rs 100 crores to set up a Vortex spinning mill in the […]

Event

CITI Educates Textile & Garment Industry On ESG Requirements

Textile Insights August 22, 2023

The Confederation of Indian Textile Industry (CITI) is organising a series of seminars to provide the Indian textile and garment industry, a better understanding of Environmental, Social, and Governance (ESG) requirements. CITI said the need for ESG has been growing not only because of expectations from the western markets, but recent SEBI and RBI guidelines […]

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

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 the previous fiscal. […]

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. […]