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

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 […]

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

Ahmedabad Textile Process Houses Extend Diwali Holidays

Textile Insights November 15, 2023

Several Ahmedabad based textile process houses have decided to extend Diwali holidays to a fortnight as against the 3-5 holidays in previous years. Most of these fabric printing or dyeing factories were running at half of their production capacities in a week before Diwali due to low orders in hand, and hence the decision to […]

Special Report

GDP Contribution Of Indian Textiles To Almost Double By 2030

Textile Insights November 4, 2023

A recently released report states that the contribution of the Indian textile industry will almost double from the current 2.3 percent to 5 percent by 2020. The report titled ‘Decadal Outlook for Textile Industry’ was jointly prepared by the Confederation of Indian Industry and Primus Partners. The report further said that Gross Value Added (GVA) […]

Policies

PLI Scheme For Textiles Extended Till December 31

Textile Insights November 3, 2023

In view of the requests from textile industry stakeholders’, the Ministry of Textiles has decided to extend the date of inviting fresh applications under the PLI Scheme up to December 31, 2023. Earlier the Ministry had extended the period for inviting fresh applications from the textile industry till August 31, 2023 and then to October […]

Industry

Haryana Textile Body To Invest Rs 2,000 Crore In UP

Textile Insights September 27, 2023

The Haryana Textile Association has expressed interest in investing Rs 2000 crore in Uttar Pradesh in a meeting with the Chief Minister Yogi Adityanath. A 21-member delegation of the association informed the Chief Minster that around 50 production units would be set up in the first phase. They said the investment is expected to create […]