Industry

CII Again Recognises NITRA Among Top Five Innovative Institutes

Textile Insights December 21, 2023

Confederation of Indian Industries (CII), the biggest Indian trade body has recognised Northern India Textile Research Association (NITRA), as one of the top five innovative institutes in India for 2023. Last year too, NITRA was recognised by CII as one of the topmost innovative institutes.

Industry

UP Govt Selling Off Land Of Closed State-Owned Textile Mills

Textile Insights December 18, 2023

The Uttar Pradesh government is acquiring land of several state-owned closed textile mills in various districts, which will be sold off to investors. Cumulatively, the land of these textile mills are estimated to be over 1,000 acres, owned by UP Cooperative Spinning Mills Federation, UP State Textile Corporation, UP State Spinning Company, etc. “These closed […]

Corporates

Trident Investing Rs 1,450 Crores In Enhancing Capacity

Textile Insights December 14, 2023

Trident Ltd will invest an ambitious Rs. 1,450 crores for capacity expansion across its spinning, bath linen and chemical businesses. The Rajinder Gupta led company plans to add around 100,000 spindles and 42 looms at a cost of Rs. 1,350 crores, while Rs. 100 crores will be spent on expanding the chemicals business. Currently, the […]

Industry

Sourcery Adds 10 Indian Textile Mills To Its Programme

Textile Insights December 13, 2023

Sourcery has added ten Indian spinning as well as vertically integrated textile mills, in to manufacture of yarn, apparel, denim and home textiles into its Direct-to-Grower programme as provisional partners. These partners include Markwell Spinning, Thiagarajar Mills, RSB Cottex, Leaspin Textiles, Sustainable Spinning & Commodities, L.S. Spinning Mills, SA Aanandan

Export

India Eyes 75% Jump In MMF Textile Exports To US$ 11.4 Bn By 2030

December 12, 2023

The Indian textile industry expects India’s exports of man-made fibre (MMF) textiles to increase by 75% to reach US$ 11.4 billion in 2030, up from approximately US$ 6.5 billion in 2021-22. This growth is attributed to the Production Linked Incentive (PLI) scheme and Free Trade Agreements with the UAE and Australia. As the world’s second-largest […]

Event

SRTEPC Hosts Event In Istanbul To Promote Bharat Tex 2024

Textile Insights December 9, 2023

An event was organised in Istanbul as a curtain raiser to ‘Bharat Tex 2024’, the biggest global textile exhibition to be held in New Delhi from February 26-29, 2024. “Bharat Tex will be the largest global textile event, covering the entire value chain of textiles from farm to fashion,” the Indian Consulate General’s office in […]

Industry

Operating Profits Of Cotton Spinners To Plummet 250-350bps

Textile Insights December 8, 2023

Operating profits of Indian cotton yarn spinners will plummet 250-350 basis points from 10-10.5 percent in the previous fiscal to decadal lows of 7-8 percent in the ongoing fiscal. Crisil Ratings has attributed this to shrinking spread between cotton and cotton yarn, inventory losses and slower than expected pickup in downstream demand. Revenue too, will […]

Industry

Southern Textile Mills Seek Govt Relief Amid Global Recession

Textile Insights December 7, 2023

Several textile associations have sought relief from the central as well as state governments of Tamil Nadu, Andhra Pradesh and Telangana to roll back the power tariff hike and the central government to restrict and monitor galloping imports of various textile raw materials and products. S K Sundararaman, the Southern India Mills Association (SIMA) Chairman […]

Industry

India Positioning Itself As Textile Sourcing & Investment Hub

Textile Insights December 4, 2023

India is positioning itself as a textile sourcing and investment hub through the seven PM-MITRA Parks being set up in various states of India at an investment of Rs 70,000 crores and other schemes. “We are hopeful that these PM MITRA Parks will emerge as growth centres in the textile sector because of foreign investments […]

Industry

Next Gen Entrepreneurs Leading Winds Of Change Sweeping Through Indian Textile Landscape

December 3, 2023

The Indian textile industry, deeply rooted in tradition and history, has long been the backbone of our country’s economy. It is often celebrated for its rich heritage, but it is not without its share of challenges. Globalization and changing consumer preferences have brought a new set of demands. Competition from international markets, stringent quality standards