Event

Explore Global Markets As Against Just Local Markets: PM Modi

Textile Insights February 27, 2024

Prime Minister Narendra Modi after inaugurating Bharat Tex 2024 said the Indian textile and apparel industry needs to think big by increasing exports rather than concentrating on just the domestic market. “It is important to come out of the mindset that India itself is a big market and mull on

Event

PM Narendra Modi Inaugurates Textile Exhibition Bharat Tex 2024

Textile Insights February 26, 2024

Prime Minister Narendra Modi, flanked by Union Ministers Piyush Goyal and Darshana Jardosh inaugurated Bharat Tex 2024, touted as India’s biggest textile fair at Bharat Mandapam in New Delhi. Bharat Tex will not only display India’s rich textile heritage but also positions India as a modern global textile powerhouse. Currently, the industry is facing both […]

Economy

Indian Textile Sector To Attract Investments Of Rs 95,000cr

Textile Insights February 24, 2024

“India’s textile industry is anticipated to attract Rs 95,000 crore investment in the following four to six years, and generate over 2.25 million additional jobs,” Union Textiles Secretary Rachna Shah said. “This will primarily be due to the production-linked incentive (PLI) scheme and the proposed seven PM Mega Integrated Textile Regions and Apparel (PM MITRA) […]

Textile Park

Narendra Modi To Lay Foundation Stone Of Navsari PM-MITRA Park

Textile Insights February 19, 2024

Prime Minister Narendra Modi will lay the foundation stone of the Prime Minister Mega Integrated Textile Regions and Apparel (PM MITRA) Park on February 22 in Navsari district of Gujarat. The PM MITRA Park in Navsari which was conceptualised in July 2023 spans 1,142 acres and is expected to attract substantial investments and generate employments […]

Industry

SIMA Raises Awareness In Textile Sector On ‘Competition Law’

Textile Insights February 15, 2024

SIMA conducted an awareness programme titled ‘Competition in Textile Market’ to enable textile manufacturers to understand the scope of the Competition Law to sustain competitiveness and achieve sustained growth. V. Sriraj, Joint Director (Law), Southern Regional Office, CCI addressed the participants on the role played by CCI at the awareness seminar, which was attended

Export

Sri Lanka To Negotiate FTA With India By End Of 2024

Textile Insights February 12, 2024

Sri Lanka will negotiate a free trade agreement (FTA) with India by the end of 2024. Sri Lanka and India resumed talks on the Economic and Technology Cooperation Agreement in Colombo in October 2023. “Similarly, Sri Lanka will sign FTAs would be negotiated with Indonesia, Malaysia, Vietnam, and China too by the year’s end,” Sri […]

Industry

CITI Welcomes 27.6% Hike In Textile Sector Budget Allocation

Textile Insights February 2, 2024

Confederation of Indian Textile Industry (CITI) welcomed the budget allocation for textiles which has increased by 27.6 percent, largely due to the allocation of Rs 600 crore for Cotton Corporation of India (CCI) towards cotton MSP operations. CITI Chairman Rakesh Mehra expressed hope that the cotton procurement will be as per revamped policies recommended by […]

Policies

Budget Extends RoSCTL Scheme For Apparel & Made-Up Exports

Textile Insights February 2, 2024

Finance Minister Nirmala Sitharaman in her interim budget has continued the Scheme for Rebate of State and Central Taxes and Levies (RoSCTL) for the export of apparels and made-ups until March 31, 2026. The RoSCTL, whose budgetary allocation has been increased by 10 percent, has proven to be instrumental in enhancing the competitiveness of Indian […]

Sustainability

CITI Honouring Industry With Textile Sustainable Awards 2024

Textile Insights January 31, 2024

The Confederation of Indian Textile Industry (CITI) has announced Textile Sustainable Awards 2024, which aim to acknowledge and celebrate excellence in sustainability within the Indian textile industry. The prestigious accolades will be presented in two distinct categories, offering textile mills and industry stakeholders an opportunity to showcase their commitment to

Industry

Turning The Wheel: ICRA’s Anticipated Surge In Cotton Demand Creates Buzz In The Industry

Textile Insights January 30, 2024

In a recent research note by ICRA on the domestic cotton spinning industry, the rating agency has anticipated a robust 12-14% growth in demand for FY2024, driven by a surge of 85-90% in yarn exports. This upswing is attributed to a shift in sourcing preferences away from China and heightened expectations of increased demand in […]