Policies

Textile Ministry May See Marginal Rise In Budget Allocation

Textile Insights January 29, 2024

The Indian Textile Ministry is likely to see a marginal increase of 2.5 percent in its budget allocation for fiscal 2024-25 over the Rs 4,389 crore allocated in the current fiscal. “This increase, though modest, aligns with the government’s commitment to establish India as a key global

Industry

Indian Textile Sector Optimistic As Markets Being To Recover

Textile Insights January 18, 2024

The Indian textile industry, which has been grappling with low demand for almost a year, is now feeling optimistic as the market begins to recover. One of the main reasons for this new found optimism is the decrease in inventory levels across the entire value chain. Additionally, China has recently purchased 6,000 tons of cotton […]

Corporates

GHCL Textiles Investing Rs 535 Crore To Expand Capacity In TN

Textile Insights January 12, 2024

GHCL Textiles Ltd., a manufacturer of various varieties of yarns signed an MOU with the Government of Tamil Nadu for an investment of Rs 535 crores on at the just concluded Global Investors Meet 2024. GHCL is a manufacturer of combed cotton compact ring spun yarns, cotton open end yarns, synthetic and blend ring spun […]

Event

Strategic Alliances & Collaborations Inked For Bharat Tex 2024

Textile Insights January 11, 2024

Bharat Tex 2024, India’s premier global textile event, which will be held in New Delhi from February 26-29, 2024, at Bharat Mandapam and Yashobhoomi, is set to redefine industry standards. The event will be held under patronage of the Ministry of Textiles, and organised by a consortium of textile export promotion councils. Strategic alliances have […]

Industry

Union Govt Taking Steps To Address Uncontrolled Textile Imports

Textile Insights January 10, 2024

The Union Government is taking adequate steps to address the issues of lack of demand and uncontrolled imports in the textiles sector. This was informed by Union Textiles Secretary Rachna Shah in a press conference held in New Delhi. “We are monitoring surges in textile imports which will be addressed, while QCO on textile materials […]

Industry

Indian Textile Bodies Seek Financial Support for Industry From Govt

Textile Insights January 6, 2024

Various textile mill associations of India have highlighted the acute financial stress faced by the spinning segment of the textile industry to the Finance Minister. The joint appeal to Minister of Finance, Nirmala Sitharaman comes after a significant downturn in the cotton-based spinning sector, exacerbated by Ukraine-Russia conflict and the recent Israel-Hamas war. “The

Industry

Indian Textile & Garment Sector Worst Affected Worldwide

Textile Insights December 29, 2023

The Indian textiles and apparel industry is the worst affected among various textile and garment producing countries due to various challenges. “Challenges include on the raw material front, both cotton and manmade fibres, and a steep increase in power cost,” President of International Textile Manufacturers Federation (ITMF), KV Srinivasan said. “Urgent measures on policy

Industry

Faridabad Textile Owners Get Nod For Land In UP’s Jewar

Textile Insights December 28, 2023

Uttar Pradesh has approved a proposal from textile industrialists based in Haryana’s Faridabad, to expand their textile business to Jewar, in Greater Noida. During the meeting with the Chief Minister of Uttar Pradesh, the textile industrialists sought land to set up factories near the upcoming Jewar International Airport. According to Jewar MLA Dhirendra Singh, the […]

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 […]

Export

Panipat Yarn Production Slumps 50% From Export Slowdown

Textile Insights December 13, 2023

With a slowdown in Indian textile finished product exports, the yarn industry in Panipat, is also experiencing a crisis, due to which spinning mills have reduced production by 50 percent. Around 40 lakh kg yarn was being produced in Panipat, which due to a poor demand from overseas markets; production has now slumped to 20 […]