Tiruppur based garment exporters have suggested forming a tripartite committee made up of garment units, yarn mills and the state government to review and fix yarn prices for a three-month period, in a bid to overcome fluctuation of yarn prices. “Unstable cotton yarn prices are derailing deals
Coimbatore based air compressor manufacturer Elgi Equipments has launched Air~Alert, an IoT-based Air Compressor Monitoring System in the Indian market. Air~Alert is a data transmission and analysis service that monitors critical parameters and sends out actionable insights and alerts to users. “With these insights, customers can improve uptime and maximise efficiency with
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 address at the 11th Asian Textile Conference […]
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 […]
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 […]
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 […]
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 […]
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 […]
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. […]
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 […]