In a virtual meeting, key associations representing spinning mills in Southern India, including SIMA, TASMA, SISPA, ISMA, RTF, RSF, APTMA, and TSTMA, discussed strategies to address the severe financial crisis plaguing the region's textile industry. The Southern States, comprising Tamil Nadu, Andhra Pradesh, and Telangana, which contribute to 55% of the nation's spinning capacity, have been grappling with an 18-month recession exacerbated by global economic slowdown, domestic market sluggishness, and import-related challenges.
The industry has witnessed a sharp decline in cotton yarn exports, plummeting by 56% from April to September 2023 compared to the previous fiscal year. Contributing to the woes are increased power costs, up to Rs.2.50 per unit, making Southern States less competitive globally. Unlike other states like Maharashtra and Gujarat, which offer substantial incentives, the Southern textile industry faces volatility in cotton prices, surplus production capacity, and reduced exports.
The ongoing Ukraine-Russia conflict, Israel-Hamas war, and issues related to Man-Made Fiber Quality Control Order have further strained the financial health of spinning mills nationwide, particularly in the South. Adding to the predicament is an abnormal surge in imports, with a notable increase in cotton and viscose fiber, cotton and polyester yarn, polyester fabrics, garments, and made-ups from China, Bangladesh, Vietnam, and Sri Lanka.
In response, Dr. S. K. Sundararaman, Chairman of SIMA, issued a press release outlining urgent appeals. These include requests to the Chief Ministers of Tamil Nadu, Andhra Pradesh, and Telangana to roll back recent power tariff hikes for a year, and to the Prime Minister for a one-year moratorium on loan repayments, conversion of ECLGS loans, financial assistance for working capital, removal of the 11% cotton import duty, and addressing QCO-related issues.
The associations also urged all state governments to suspend incentives for spinning capacity expansion until oversupply issues are resolved. To emphasize their plight, they proposed a one-week production stoppage and advised a 35% reduction in production across the spinning sector. The crisis, if unaddressed, could lead to the closure of large-scale spinning mills in the region.

14 November 2023, Mumbai

As per latest ETRetail report l
Grasim Industries, reported a robust quarter, with consolidated net profit rising 15% to Rs 1,164 crore in the Q2 FY24. This was greater than the Rs 1,009 crore V/s corresponding period of the yester year.
Operational leverage
The company’s revenue from operations also increased by 10% to Rs 30,221 crore in the reporting quarter, compared to Rs 27,486 crore in the year-ago quarter.
The growth enablers were solid performance across all segments, with cement, viscose staple fibre, and financial services businesses all reporting healthy growth.
Grasim Industries is in a good place for durable growth in the following quarters. The company has a solid order book for cement and is expanding its viscose staple fibre capacity. The financial services business is also anticipated to gain from the favourable economic environment.

Latest Textile Events

07 November 2023, Mumbai

Unassuming Cotton Plant Emerges as a Battery Powerhouse
Sustainable Alternative to Traditional Graphite Anodes
PJP Eye, a Japanese firm, revolutionizes battery technology with a sustainable anode made from burnt cotton.
Impressive Performance and Environmentally Friendly
Cotton-based batteries charge up to 10 times faster than lithium-ion batteries and minimize environmental impact.
Leveraging Abundant Resources for a Sustainable Future
Cotton-based batteries utilize an abundant byproduct of the textile industry, paving the way for fully sustainable energy storage solutions.
From Textile Staple to Battery Powerhouse
The transformation of cotton into a battery component highlights human ingenuity and paves the way for a more sustainable future.

Latest Textile Events

International Conference on “Sustainability and Circularity – The New Challenges for the Textile Value Chain.”
The conference will be held on Wednesday, January 31, 2024, at The Lalit Mumbai hotel in Mumbai, India.
The textile industry is one of the largest and most important industries in the world, but it also faces a number of challenges, including sustainability and circularity.
This conference will bring together experts from around the world to discuss the latest trends and developments in sustainable and circular textile production.
The conference will also feature keynote speeches from leading industry figures, as well as panel discussions and networking opportunities.
The Textile Association (India), Mumbai Unit, is a leading textile industry organization with over 4,000 members. The association is committed to promoting sustainable and circular practices in the textile industry.

11 November 2023, Mumbai

Asia's Textile Industry Convenes in Shanghai
The 9th edition of ITMA ASIA + CITME, Asia's leading textile machinery exhibition, is scheduled for October 14-18, 2024, at Shanghai's National Exhibition and Convention Centre.
This marquee event, a collaboration between CEMATEX, the China Textile Machinery Association, and the Japan Textile Machinery Association, combines ITMA's global expertise with CITME's deep industry knowledge.
Outlines
ITMA ASIA + CITME 2024 serves as a premier business platform for Asian textile machinery manufacturers, showcasing their latest innovations to a global audience seeking cutting-edge solutions.
The exhibition will feature a comprehensive range of machinery, from fiber preparation to finishing, catering to the entire textile industry value chain.

Latest Textile Events

As per latest LiveMint Report l
With its Q2FY24 performance, Indocount Industries has reached a historic landmark, surpassing the ₹1,000 crore revenue mark for the first time ever.
The company achieved a record-breaking quarterly revenue of ₹1,033 crore, thanks to a substantial rise in volumes.
This shows a remarkable 22% year-on-year growth, in contrast to the ₹849 crore revenue registered in the same quarter of the previous year.

11 November 2023, Mumbai

The launch of ‘Textiles Policy 2023–28' marks a significant milestone in Maharashtra's progressive journey, with an ambitious goal of attracting global investments worth Rs 25,000 crore and creating jobs for over 5 lakh people, particularly women. India is currently among the top five global exporters across categories, including natural fibers, MMF, spun yarn, filament yarn, woven fabric, and home textiles.

Nuanced picture
Both the central and state governments have launched progressive, industry-specific schemes that showcase India's technological advancements and commitment to sustainability.
Various schemes and incentives have been introduced to promote the sector, including the Amended Technology Upgradation Fund Scheme (ATUFS), the Production-Linked Incentive (PLI) Scheme for man-made fibers and technical textiles, the National Technical Textile Mission, and the PM MITRA scheme.
These initiatives have not only provided financial assistance but also encouraged investments in modern technology and infrastructure, thereby improving overall competitiveness.

Latest Textile Events

04 November 2023, Mumbai

Guangdong, a cornerstone of China's textile manufacturing sector, particularly Shenzhen, is gearing up to take center stage at the Intertextile Shenzhen Apparel Fabrics event, which is set to be held from November 6 to 8, 2023.

Background
This annual event has a rich history of bringing together various players from the apparel value chain, ranging from wholesale markets, fabric producers, clothing processing plants, and fashion enterprises, such as Shenzhen's renowned Dalang Fashion Town.
This year, the organizers anticipate a substantial turnout of exhibitors and visitors from China and beyond.

Latest Textile Events

Better Cotton, a global leader in sustainable cotton farming, is expanding its reach to Côte d'Ivoire, aiming to support 200,000 local farmers over the next five years.
Partnering with the Professional Association of Cotton Companies of Côte d'Ivoire (APROCOT-CI), Better Cotton will provide training and resources to enhance sustainable farming practices and improve the environmental resilience and economic prospects of farming communities.
Six APROCOT-CI member organizations will serve as Better Cotton Programme Partners, contributing expertise and resources to drive social and environmental advancements in cotton cultivation.
This initiative aims to integrate sustainable practices, reduce environmental impact, and enhance the economic well-being of smallholder cotton farmers in the region.

08 November 2023, Mumbai

Joint initiative of CII, Tamil Nadu Govt., and Ministry of Textiles
A technical textiles conference will be held in Coimbatore on November 17–18, 2023, as a joint initiative of the Confederation of Indian Industry (CII), the Department of Textiles, the Government of Tamil Nadu, and the Ministry of Textiles.

The event will showcase the potential and opportunities of technical textiles in the state, which is a global leader in the textile sector.
Tamil Nadu accounts for half of India's textile mills
Tamil Nadu accounts for half of India's textile mills and has a strong presence in various segments of the textile value chain, such as knitting, weaving, spinning, and dyeing.
Session with Textile Commissioner
As a prelude to the conference, CII and the Tirupur Exporters' Association (TEA) organized a session with M. Vallalar IAS, Commissioner of the Department of Textiles, Government of Tamil Nadu, as the chief guest.

Latest Textile Events