01 April 2023, Mumbai

Siyaram Silk Mills Limited, an Indian textile brand, has launched its very first influencer-led marketing campaign in partnership with popular actor Aparshakti Khurana. The campaign is aimed at engaging young people all across India.

The brand, which specializes in suiting fabrics and caters to a range of ages, is focusing on its younger customers with this campaign concept.

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With this campaign, Siyaram aims to convey our message to the youth, by roping in Aparshakti Khurana as his synergy blends well with our brand. The launch of this influencer-led campaign is expected to help Siyaram's reach out to a wider audience and strengthen its position in the highly competitive fashion industry.

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 20 March 2023, Mumbai 

The Indian government has announced the establishment of seven Mega Integrated Textile Regions and Apparel (PM MITRA) Parks across the country. These parks will be located in Tamil Nadu, Telangana, Gujarat, Karnataka, Madhya Pradesh, Uttar Pradesh, and Maharashtra.

The government's decision to set up these parks is based on its 5F vision, which aims to develop a complete value chain in the textile industry, starting from farm to fibre to factory to fashion to foreign. The establishment of these parks is a significant step towards making India a global hub for textile manufacturing and exports, as they are expected to improve the competitiveness of the industry by promoting economies of scale and attracting foreign players to invest in India.

Out of 18 proposals from 13 states, these seven sites were selected based on objective criteria such as connectivity, existing ecosystem, textile and industry policy, infrastructure, and utility services.

These parks will create world-class industrial infrastructure, attract large-scale investment, including foreign direct investment, and encourage innovation and job creation within the sector. The Ministry of Textiles will oversee the execution of these projects, and an SPV owned by the Centre and State Governments will be established for each park to ensure proper implementation.

The parks will provide excellent infrastructure, plug-and-play facilities, and training and research facilities for the industry. This unique model, where the Centre and State Governments work together, is expected to generate an investment of nearly Rs. 70,000 crores and create 20 lakh employment opportunities through these parks.

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20 February 2023, Mumbai

Welspun opened 1000 stores in the last quarter.

This has enhanced its store count to over 10,600. The target is to reach 50,000 stores by fiscal year 2026. The company plans to deepen its reach in the domestic market by tapping smaller cities through the franchise model. The company is managing retail through MDUs with a strong sales team which visits stores and tracks sales at MDUs using the latest technology. Welspun expects exports to bounce back by the end of the next fiscal after being hit by global recession in the last few months. The retailer had raised prices due to the high incidental cost and this led to a drop in demand but retail prices have started falling with easing raw material prices and logistics costs. The brand’s licencing pact with Walt Disney for Europe, the Middle East and Africa will add another portfolio besides providing extra shelf space at top retail outlets. The company’s margin was impacted by rising cotton, coal and container costs. However, cotton and container prices have started falling while coal prices continue to remain at elevated levels. The company plans fresh capex of Rs 200 crores in renewable energy to bring down costs besides another Rs 150 crores on maintenance capex.

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 30 March 2023, Mumbai 

The Comptroller and Auditor General (CAG) of India has revealed in a report that out of the 98 integrated textile parks sanctioned by the government since 2005, only 26 have been completed.

The report disclosed that 30 parks are still under construction while 42 have been cancelled. The government released grants totaling Rs 1,593 crore for these 98 parks, of which Rs 688.03 crore were released for parks that still haven’t been completed or were cancelled.

The parks were envisaged as attractive destinations for investment and job creation, but they have fallen well short of all their targets. The report highlighted that delays in obtaining statutory clearances, issues related to land allotment for the parks, and weak financial strength of the Special Purpose Vehicles created for the parks were the major reasons for delay in their completion.

According to the report, during the 10th Plan period (2005-07), it was envisaged to complete 25 parks in around 18 months. The scheduled time for completion for parks sanctioned during the 11th Plan period (2007-12) was kept as 24 months from the first release of grants by the Government of India. Further, during the 12th Plan period (2012-17), the completion period for the parks was estimated to be three years.

Of the 30 parks where work is ongoing, five were commissioned between 2005 and 2007, which means they are at least 25 years past their deadlines. Ten of the currently-ongoing projects were sanctioned during the 11th Plan, putting them about nine years past their deadlines. By this calculation, the 15 ongoing projects sanctioned in the 12th Plan are at least three years overdue.

As a result of the delays and the cancellations of projects, the various targets set for the projects in terms of employment generation, investments, and the setting up of textile units all remained unmet by a substantial degree.

The CAG said that even after a lapse of 16 years from the inception of the Scheme, the actual achievement of the 56 completed/ongoing parks (audited by the CAG) was only 30 per cent in terms of employment generation, 50 per cent in terms of investments and 37 per cent in terms of setting-up of textile units, as against the targets set in the detailed project reports of the parks.

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17 March 2023, Mumbai 

Union Minister Piyush Goyal has announced that the Centre will soon reveal the states where seven Mega Integrated Textile Region and Apparel Parks will be constructed with an estimated budget of Rs 4,445 crore.

The locations for these PM MITRA Parks will be chosen using an objective criteria-based Challenge Method. The government had previously invited proposals from state governments that could offer contiguous and unencumbered land parcels of over 1,000 acres, along with other textile-related facilities and ecosystems.

The PM MITRA scheme will provide a competitive edge to the Indian textile industry by creating a single location that offers plug-and-play infrastructure for the entire supply and value chain. The announcement was made by Goyal during the Global Textile Conclave held virtually in Jaipur.

The MITRA Parks will enable an integrated textile value chain that includes spinning, weaving, processing/dyeing, printing, and garment manufacturing. Such a facility at a single location will significantly reduce logistics costs. The PM MITRA scheme is inspired by Prime Minister Modi's 5F vision of Farm to Fibre to Factory to Fashion to Foreign.

Earlier this month, Textile Secretary Rachna Shah disclosed that the government has received 18 applications from 13 states for the seven Mega Integrated Textile Region and Apparel Parks, which are in the "advanced stage" of consideration.

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20 February 2023, Mumbai

For the third quarter Vishal Fabrics’ net profit fell by 38 per cent.

Revenue for the quarter was down by ten per cent as against the corresponding period of the previous fiscal year. Despite the drop in numbers, Vishal Fabrics is confident about the long-term growth prospects for the Indian textile sector as well its capacity to raise utilization levels and get back the revenue at normalcy. Vishal Fabrics has set a target of Rs 2,000 crore topline by the fiscal year 2024 and aims to achieve it through expansion in the domestic market coupled with exports in existing and new markets. Ahmedabad-based Vishal Fabrics is a flagship company of the Chiripal group. Vishal Fabrics caters to the premium and the super-premium end of the denim segment. The company is also expanding its overseas presence by adding new markets in Latin America and Europe. Vishal Fabrics has no plans to go into garments and apparels and will be confined to the B2B segment. The denim maker is also investing in the expansion of its current capacity to increase denim production. Although the short-term headwinds may continue, the company remains confident about the long-term growth prospects for the Indian textile sector as well as its capacity to raise utilization levels and get back the revenues at normalcy.

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In a move to enhance the effectiveness of the Ministry of Textiles, the central government has decided to shift the office of the textile commissioner to New Delhi. Jayashree Sivakumar, under secretary in the ministry of textiles, has written to textile commissioner Roop Rashi informing about the decision.

The textile commissioner acts as the principal technical advisor to the Ministry of Textiles and carries out techno-economic surveys and advises the government on the general economic health of the textiles industry through its eight regional offices at Amritsar, Noida, Indore, Kolkata, Bengaluru, Coimbatore, Navi Mumbai and Ahmedabad.

The restructuring exercise would involve shifting textile commissioner and few key officials to the Ministry of Textiles (MoT) to strengthen the technical arm of the ministry. As the first step to initiate the process of restructuring/merger, the textile commissioner will be moved to New Delhi along with a few key personnel, including one joint textile commissioner, two deputy secretary level (director rank) and two deputy director level officers.

This decision is expected to have a positive impact on the functioning of the Ministry of Textiles and its efforts to promote growth in the textiles industry.

 08 March 2023, Mumbai 

In celebration of International Women's Day, the Ministry of Textiles is launching a week-long program at Handloom Haat in New Delhi to promote circular economy in the textile industry.

The ministry is providing a platform for women-led startups to showcase their circular products, which are primarily made from textile waste before or after consumption. Circularity aims to shift the linear value chain from take-make-dispose to a system where value is retained for a longer period. Circular fashion in particular places women at the center of the transformation.

To support circular strategies and processes, the ministry is inviting women-led organizations focused on reducing waste through recycling, repairing, reusing, renting, and reselling. In honor of India's 75th year of independence, 75 stalls to be set up by women entrepreneurs, designers, handloom weavers, and craft persons, many of whom are master craft persons and national awardees.

This is the first time that the Ministry of Textiles has provided a platform for circular products, highlighting the importance of sustainability and empowering women in the industry.

With the EU's circular textile roadmap set to take effect in 2025, the industry is gearing up to meet the growing demand for environmentally friendly products.

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 20 February 2023, Mumbai

For the third quarter Arvind Fashions’ net profit rose by 28 per cent.

Revenue for the quarter rose by 17 per cent as against the corresponding period of the previous fiscal year. Ebitda grew by nearly 30 per cent. With a sharp focus on execution and customer experience, the business delivered 12 per cent plus retail like-to-like sales growth during the quarter and record sell through. The company’s aim continues to be on improving profitability further and delivering a higher return on capital employed. Arvind Fashions is one of India’s leading players in the fashion segment with a portfolio of owned and licensed international brands including US Polo Association, Arrow, Flying Machine, Calvin Klein, Tommy Hilfiger, and beauty brand Sephora. Leading textile manufacturer Arvind offers the widest array of fashion brands in India. The bouquet of brands – both homegrown and global – straddles lifestyles, categories and price points. International fashion brands wanting to enter India are keen to partner with Arvind. The company’s revenue from the textiles segment contributes about 80 per cent of the company’s total revenue. Price realisations have started to trend down since the second quarter for Arvind Fashions reflecting the recent softness in raw material prices.

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22 March 2023, Mumbai 

Known as Monti India, Tessitura Monti India Private Limited (TMIPL), a wholly owned Indian subsidiary of Italian company Tessitura Monti Spa, has been acquired by Bengaluru-based cotton fabric manufacturer Hi Fabrique Group in a deal estimated to be around Rs 205 crore.

TMIPL's production facility in Kolhapur, Maharashtra, spans over 150,000 square feet and is equipped with state-of-the-art machinery for weaving, dyeing, printing, and finishing fabrics. The facility has a production capacity of over 1.5 million meters per month, with a focus on high-quality cotton shirting fabrics. With the acquisition by Hi Fabrique Group, the production facility is expected to further enhance its capabilities and expand its reach in the global market.

Monti supplies 20% of its production to the leading domestic and international brands in India, whereas the majority of the company's exports come from high end international brands.

The acquisition will allow Hi Fabrique to expand its presence in the global markets after having dominated India's luxury shirting fabrics market. The acquisition would enable the two companies to create a more diversified product portfolio by combining their expertise, resources, and talent to better meet the evolving needs of their customers and deliver innovative solutions that exceed their expectations.

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02 March 2023, Mumbai 

India's largest branded textiles and apparel maker, Raymond, is aiming for high double-digit growth for the financial year 2023-24, according to the company's Group Chief Financial Officer, Amit Agarwal.

For the first nine months of the current fiscal year 2022-23, the company's consolidated revenue stood at Rs 6,145 crore, up 42 per cent from the same period in the previous year. Agarwal plans to continue reducing debt to make the company debt-free by 2025 through revenue growth and effective working capital management.

Agarwal is optimistic about the company's growth prospects, particularly in the branded textiles, branded apparel, and garmenting businesses, as well as in real estate and engineering. Raymond's order book is full until July, and Agarwal believes the company's long-standing relationships with customers, dealers, and franchise networks will help it achieve its growth targets.

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20 February 2023, Mumbai 

Color Jet has introduced a new series of printing solutions.

Earth is an advanced sustainable pigment printing solution in digital textile printing and minimises the consumption of water and energy. Earth pigment inks deliver excellent fastness properties and high printability sharpness by heat fixation comparable to the more complex processes for reactive, acid or direct disperse digital printing. These high-performance digital pigment inks work on an innovative binder technology for fast, sustainable and cost-competitive industrial textile printing on almost any type of fabric. The Earth series comes in three models, Kiloton, Purge Plus, and Osci Plus, with 32, 16 and eight inkjets powered by Konica Minolta print heads. Color Jet, the wide format digital printing technology leader, was founded in 1995. Color Jet’s digital textile machines are revolutionizing the world of textile printing with their robust performance, sustainable manufacturing, lowest downtime, high value, and return on investment. Color Jet offers an exclusive range of digital textile printers and has two manufacturing facilities and sales offices spread across seven countries, which include India, China, Bangladesh, UAE, and Sri Lanka. So far Color Jet has installed and implemented over 5,000 of its printing solutions and products across 450 cities around the world.

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