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

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 […]

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 […]