Industry

CITI Gears Up For Future That Envisions Thriving Textile Sector

Textile Insights May 14, 2024

The Confederation of Indian Textile Industry (CITI) is gearing up for a future that envisions a thriving textile sector till 2047, which also marks ‘New India’s’ fulfillment of aspirations. “The textile industry is crafting an action plan not just for the immediate future but for

Financial Results

Filatex India Announces Q4FY24 & FY24 Audited Results

May 5, 2024

Filatex India Ltd, a leading manufacturer of synthetic filament yarns, reported its audited results for Q4FY24 & FY24 on April 30, 2024. Filatex reported revenue of Rs 1,026 crore in Q4FY24 (Rs 1,083 cr in Q3FY24), EBITDA of Rs 64.6 cr (vs. Rs 74.7 cr), Profit Before Tax of Rs 47.2 cr (vs. Rs 25.2 […]

Policies

India May Give Sops To Boost Synthetic Yarn & Fabric Output

Textile Insights May 4, 2024

The Indian government is considering measures to boost domestic production capabilities of manmade fibre or synthetic yarns and fabrics by offering subsidies and tax incentives. The government will also help to set up advanced manufacturing units, and strengthen the sector’s overall competitiveness, according to two people aware of the matter. “The government is

Event

CITI’s YEG Seminar On Megatrends Shaping Textile & Apparel Sector

Textile Insights May 2, 2024

The Young Entrepreneurs Group (YEG) of the Confederation of Indian Textile Industry (CITI) organised a session on ‘Megatrends Shaping the Textile & Apparel Industry’. Rajjnish Aroraa, Chairman of the Young Entrepreneurs Group emphasised the critical importance of comprehending and adapting to the megatrends influencing the textile and apparel sector. Arvind Singhal,

Industry

ITAMMA Announces Appointment Of New Office Bearers For 2024-25

Textile Insights April 15, 2024

ITAMMA has announced appointment of new office bearers for 2024-25. These include Bhaveshkumar Patel as President, Omprakash Mantry as Vice-President and Manan Shah as Honorary Treasurer. Bhaveshkumar Patel is the founder of Ahmedabad based Om Corporation, which is a manufacturer, importer and exporter of textile weaving machinery spare parts and second hand machinery.

Event

Textile Association (India) Mumbai Unit Hosting Lecture On 5S

Textile Insights April 5, 2024

The Textile Association (India), Mumbai Unit is organising a hybrid lecture on April 12, 2024 at TAI, Mumbai Unit Office. The theme of the lecture, which is online as well as offline is ‘5S – The First Step to Building a World Class Organisation’ and will be held from 4.00 to 05.30 pm. There will […]

Industry

Indian Textile Industry Is Poised For Rebound In Sales – CRISIL

Textile Insights March 29, 2024

The CRISIL SME Tracker has reported that the Indian textile industry is poised for a rebound in sales after two years of contraction. The previous two financial years were challenging due to volatile cotton prices and subdued export demand. “However, the industry is expected to close this fiscal with lower revenue due to a correction […]

Policies

India Extends Reskilling Programme Samarth Till March 2025

Textile Insights March 14, 2024

The Indian government has decided to extend ‘Samarth’ scheme for capacity building in textiles sector by another year and will now be operational till March 31, 2024. A circular from the Ministry of Textiles informed that the Department of Expenditure under the Ministry of Finance has approved the extension of the scheme. Samarth is a […]

Policies

Exporters Under AA, EOU & SEZ Exempted From Mandatory QCO

Textile Insights March 14, 2024

The Directorate General of Foreign Trade (DGFT) has taken steps to alleviate the burden on exporters operating under Advance Authorisation (AA), Export Oriented Units (EOU), and Special Economic Zones (SEZ). DGFT has done this by enabling provisions to exempt inputs from mandatory Quality Control Orders (QCOs) issued by the Ministry of Steel, DPIIT, and Ministry […]

Industry

CITI Welcomes FTA With European Free Trade Association Nations

Textile Insights March 11, 2024

The Confederation of Indian Textile Industry (CITI) has welcomed signing of the Trade and Economic Partnership Agreement with the European Free Trade Association (EFTA) countries. EFTA members include Iceland, Liechtenstein, Norway, and Switzerland which are an important trade bloc for the Indian textile industry. “CITI had been requesting the government to expedite