20 November 2021, Mumbai:

Still at the top, as green as this envious company has always been,” By making the biggest strides in responsible sourcing and environmental conservation, we've earned the top spot amongst the global viscose producers, yet again”.

Birla Cellulose is the first global viscose producer to be ranked #1 three years in a row!

ABOUT CANOPY'S HOT BUTTON REPORT:

Every year, as a part of the CanopyStyle initiative Canopy, releases the Hot Button Report which is highly anticipated by 455+ global brands, retailers & fashion designers. It ranks the world's largest viscose producers based on their progress & commitment to eliminating endangered forests from their supply chain.

ABOUT CANOPY

Canopy is a not-for-profit environmental organization working towards forest conservation & sustainability. One of Canopy's flagship campaigns is the CanopyStyle initiative as a part in which Canopy partners with various viscose producers, fashion brands & designers to ensure that sustainable forestry is practiced while making viscose-based clothing. Birla Cellulose

(The news article has not been edited by DFU Publications staff)

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17 November 2021, Mumbai:

The state government had granted a three-year subsidy of Rs 3 per unit to the mills until December 31, 2021.

The rebate given by the state government to spinning mills on purchase of power will expire by the end of December this year, top officials of the Maharashtra State Cooperative Textile Federation (MSCTF) said.

The state government had granted a three-year subsidy of Rs 3 per unit to the mills until December 31, 2021. The mills are expected to set up solar power plants at their premises in these three years in lieu of the subsidy.

MSCTF, along with the representatives of cooperative spinning mills, met the Maharashtra state textiles commissioner in Nagpur last week to seek a further extension on the power rebate, Ashok Swami, chairman, MSCTF, said. “The mills are currently finding it difficult to purchase cotton for their requirements because of the high prices of the commodity.

The high electricity rates will only add to their problems,” he said. None of the mills have set up solar power plants because permission has been granted only for 1-megawatt (MW) capacity power plants, which generate electricity for barely two hours, Swami pointed out.

It is not viable for mills to set up these plants unless the government relaxes this condition and grants permission for 10-MW to 12-MW power plants, he said. Financial Express

(The news article has not been edited by DFU Publications staff)

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2. Consumers will determine growth of sustainable fashion e-comm in India

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4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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10 November 2021, Mumbai:

The Cabinet Committee on Economic Affairs, led by Prime Minister Narendra Modi, has approved the Cotton Corporation of India (CCI) receiving committed price assistance of Rs. 17,408.85 crore for the cotton seasons 2014-15 to 2020-21. (up to 30 September 2021).

The government said in a statement that it is necessary to execute price support operations in cotton years 2014-15 to 2020-21 in order to protect the interests of cotton producers as cotton prices approached MSP levels.

Its adoption improves cotton producers' participation in the country's economic activities. Price support activities aid in the stabilisation of cotton prices and the alleviation of farmer distress.

According to reports, roughly Rs. 8,000 crore will be granted through extra provision for the current fiscal year, with the remainder being paid through a budgetary provision in the next fiscal.

Cabinet approves spending for reimbursing losses under MSP operations for cotton from 2014-15 to 2020-21 during the cotton season (October to September).

Cotton season 2020-21 had 133 lakh hectares under cultivation, with 360 lakh bales projected to be produced, accounting for about 25% of total global cotton production. The government sets the MSP for seed cotton based on CACP recommendations (kapas).

As and when cotton prices fall below the MSP level, the government designates CCI as the Central Nodal Agency, and CCI is empowered to implement MSP in cotton by acquiring all FAQ grade cotton from farmers without any quantitative ceiling. Cotton producers are protected against distress sales by MSP operations in the event of a price drop.

By building 474 procurement centers in 143 districts, CCI keeps its infrastructure ready in all 11 key cotton-growing states.

According to the statement, during the worldwide pandemic in the previous two cotton seasons (2019-20 and 2020-21), CCI acquired over 1/3 of the country's cotton crop, or approximately 200 lakh bales, and distributed more than Rs. 55,000 crore directly to nearly 40 lakh farmers' bank accounts.

CCI has already made the necessary provisions in all 11 main cotton-growing states, including the deployment of people at more than 450 procurement centers, to meet any possibility of MSP operations for the current cotton season, 2021-022.

For the Jute Year 2021-22, the government has also issued reservation guidelines for the required use of jute in the packaging (1 July 2021 to 30 June 2022).

Foodgrains must be wrapped in jute bags 100 percent of the time and sugar must be put in jute bags 20 percent of the time, according to the required packaging standards set for Jute Year 2021-22.

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TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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19 November 2021, Mumbai:

Designer label Ritu Kumar has collaborated with interior designer Ashiesh Shah to launch an exclusive edition collection of home decor range inspired by Amer, Jaisalmer, and Kochi.

The collection includes a wide range of bed linen, wallpapers, tableware, and home décor. The range explores contemporizing of craftsmanship and offers a modern take of the region’s cultural heritage. This is the first collaboration Ritu Kumar has had with the iconic architect and interior designer Ashiesh Shah.

Ritu Kumar has been patronized by international style icons and top film celebrities for over five decades. Her collections reflect the era of the ruling dynasties of India. She is inspired by the patronage given to spinners, weavers, dyers, printers, and embroiderers by royalty that in turn fashioned the costumes of the maharajas, ranis, and nawabs.

The bridal line of saris, suits, and lehengas is inspired by traditional zardozi embroidery and Kanjeevarams incorporated with contemporary designs and motifs. The lehengas are a perfect blend of modern style and traditional sensibilities.

Equally stunning are the saris and suits in a choice of fabrics such as net, chiffon, lace, and georgette. The elegance of the garments is enhanced by the use of lace and gotta Patti work for the border and dupattas with a hint of traditional karigari and embroideries.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.  

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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16 November 2021, Mumbai:

For the second quarter, Arvind’s revenues grew 113 percent. This was driven by the significant easing of Covid-related restrictions resulting in strong footfalls across retail channels and continued growth in the online business.

Sales recovery was 90 percent compared to pre-Covid levels. Power brands grew 145 percent with significantly improved profitability on a year-on-year basis. Online channel sales grew by 55 percent with a 40 percent contribution to company revenues.

Strong sales recovery continued in October ’21, registering high-teens like-to-like growth in the festive period in the retail channel, compared to pre-Covid.

A robust sales growth coupled with cost optimization measures led to significantly improved operating profitability resulting in EBITDA of Rs 72 crores compared to a loss of Rs 14 crores in last year’s second quarter. This translated into cash break-even for continuing business.

Arvind is India’s leading casual and denim player. The continued focus on working capital coupled with the divestment of the Unlimited retail business resulted in inventory and gross working capital lower by Rs 180 crores compared to September ’20.

The gross debt was lower by Rs 70 crores compared to June ’21. Proceeds from the preferential allotment were utilized to reduce debt further.

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2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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02 November 2021, Mumbai:

The 52nd edition of the Indian Handicrafts and Gifts Fair (IHGF-Delhi) which was held at India Exposition and Mart Greater Noida closed on Sunday with business enquiries worth Rs 1,850 crores. The event was held in its physical form after a gap of 18 months. TOI

Approximately 1,250 overseas buyers from 90 countries and over 1,100 buying consultants visited the fair.

The B2B fair saw participants from over 90 countries this year though the bulk of buyers were from the US. The other visitors were from countries like the UK, UAE, France, Germany, Netherlands, Austria, Belgium, Greece, Italy, Sweden, Russia, Japan, Australia, China, Singapore, South Africa, Israel, Saudi Arabia, Turkey, Canada, and Brazil.

Over the last many years, a large number of buyers and sellers have been dependent on IHGF Delhi Fair for procurement and supply of products that vibe well with consumers across world markets and are readily sellable.

Indian handicraft exports of 2019-20 were around Rs 25,670 crores whereas handicrafts exports during the six months of the current financial year from April to September 2021-22 were Rs 15,995.73 crores.

The US share in this is Rs 9,855 crores. Overall, the handicraft segment is registering a growth of over 60.34 percent over the same period last year. The success of this fair has meant that the message has gone out that India has opened up to the business.

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4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

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17 November 2021, Mumbai:

Team SharX from the Xavier Institute of Management, Bhubaneswar, has won Welspun’s ESG (Environment, Social and Governance) innovation challenge – Disruptor.

Team SharX will receive seed funding of Rs 10 lakh from the Welspun Group for its business proposal that focused on an overarching ESG narrative with an effort at tackling fashion’s adverse effects on the environment, sustainability, and more.

The winning team was among 100 teams shortlisted in this competition and built on the concept of circular economy and proposed a solution to reduce fast fashion waste while promoting rural women’s welfare.

They were announced as winners following four rounds of competition. Welspun found their idea of an advanced approach to combat environmental issues through e-commerce unique, scalable, and embedding the values of circular economy at its core.

Disruptor was a competition launched by Welspun in August 2021 as a platform for young entrepreneurs to present path-breaking ideas of sustainable ESG business solutions. This program, under Welspun’s Welocity initiative, is a celebration of the spirit of entrepreneurship as the organization continues to recognize ESG as an inextricable part of today’s evolving business landscape.

Welspun, one of India’s fastest-growing global conglomerates, is adding to its capacity in towels, sheets, and rugs. The towel capacity will increase by seven percent. Sheets will increase by 20 percent and rugs by 80 percent.

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11 November 2021, Mumbai:

According to a report by Delhi-based Infomerics Valuation and Rating, a Credit Rating Agency, fund allocation is a major constraint for the Indian textile industry, with the Finance Ministry approving only Rs. 3,631.64 crore for the Textile Ministry in FY22, compared to a proposed outlay of Rs. 16,883 crore.

According to the report Textile Industry: Trends and Prospects, the industry has recently seen low manufacturing activity accompanied by high final product prices, as evidenced by the annual NIC-2 digit and sectoral indices of industrial production, where the index for manufacturing of textiles' has fallen below 100 for the first time in nearly a decade, settling at 91.1.

The yearly wholesale pricing index for 'textile manufacturing' has been hovering around 118 points, which is 6-7 notches higher than the decadal normal of around 112.

Other generic factors mentioned in the report include weakened consumer demand or production networks, obsolete technology, inflexible labour laws, infrastructure bottlenecks, and fragmented industry, as well as the major role of the unorganised and small players who have been hit by the triple whammy of demonetisation, GST implementation, and the COVID-19 pandemic.

It includes industry-risk elements, such as the GST problem, the disparity between requested expenditure and allowed amount, bad performance, and excessive pricing. According to the research, the sector must charge premium prices, focus on specialty goods and markets, and rethink items in greater value-added categories. For long-term growth, it must also prioritise regional and cluster subsidies, as well as technological upgrades and talent development subsidies.

Investment in value-added services, such as marketing, warehouse leases, logistics, courier, and other expenditures associated with product fulfilment, is a must for the industry to expand.

After peaking at US $ 106 billion in FY2020, the domestic textiles and apparels sector plummeted to US $ 75 billion during the pandemic. Government measures, on the other hand, have prompted optimism that the industry would rise to US $ 300 billion by 2025-26, a 300 percent increase in the following two years.

In technical textiles, there has been a dramatic reversal. Imports of technical textiles outstripped exports by Rs. 1,058 crore in FY20, but exports outstripped imports by Rs. 2,998 crore in FY 21. "One of the key challenges for Indian exporters is logistics.

For comparison, Bangladesh's turnaround time (from order to delivery) is 50 days and India's is 63 days, while Bangladesh's time to port is 1 day and India's is 7-10 days," according to the research.

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02 November 2021, Mumbai:

GreenKraft Producer Company Ltd. in Madurai was recently visited by Judith Ravin, Consul General, US Consulate, Chennai, and Palanivel Thiaga Rajan, Minister for Finance and Human Resources Management, Government of Tamil Nadu.

The GreenKraft Producer Co. Ltd., which was founded by Industree Foundation and is currently supported by USAID, employs over 3,700 women in 12 manufacturing units to produce sustainable home and lifestyle products from banana bark for international markets, including IKEA, Target, Carrefour, Caravan, Gala Group, and The Forest Door.

Interactions with female producers took place during the tour. A successful walkthrough of the unit gave a pleasant sense of normalcy and a return to the field, with all necessary Covid-related precautions in place.

"We are extremely proud to be a part of a project that has had such an impact on the lives of marginalised women and their families," Judith Ravin said, praising the work of women and the Industree Foundation. We are confident that the project will have a lasting influence on the lives of millions of women across the country."

“The growth of women is at the forefront,” Palanivel Thiaga Rajan stated, “and GreenKraft, as a centre creating eco-friendly items from banana peel, is a narrative of empowerment in its own right.”

According to Neelam Chhiber, co-founder of the Industree Foundation, the foundation is also leading the POWER project, which is now being implemented throughout natural value chains of banana, bamboo, and non-timber fibre produced in the states of Tamil Nadu, Karnataka, and Odisha.

Women are trained in technical and entrepreneurial skills, financial literacy, gender equality, and women's empowerment as part of the assistance provided.

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17 November 2021, Mumbai:

The state government is lobbying for a textile park at the Kopparthi mega industrial park in Kadapa. The Centre has already proposed seven major textile parks to be set up across the country this year. The state had placed a request for one park and had promised its support to establish it.

Minister for industries, Mekapati Gautham Reddy, who concluded his two-day visit to the national capital on Friday, met several Union ministers during his visit and placed requests on behalf of the state government.

The minister also made a strong request to the Centre for establishing solar power plants in the state.

He told the Centre that Coal India Limited (CIL) had come forward to establish a solar wafer cell PV modular manufacturing unit at Kopparthy. This would come up at an investment of Rs 7,200 crore, for which CIL has already established a special purpose vehicle (SPV), he told the Union minister of power. TOI

(The news article has not been edited by DFU Publications staff)

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.  

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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10 November 2021, Mumbai:

The VDMA, a renowned German Textile Machinery Association, has announced that their next webtalk, "Augmented Reality in the Textile Industry," will take place on November 18, 2021.

According to VDMA, industrial service operations frequently necessitate extensive travel for experts and technicians to assist customers, partners, and colleagues with technical difficulties on textile machines in the manufacturing process.

"Skilled professionals are scarce, and they value their time too much to travel large distances for each service call." Humans, machines, and processes can interact efficiently with AR technology, remote assistance, and standardised work instructions, allowing for the delivery of novel services.

This is the context for the VDMA's upcoming technological webtalk, titled The Remote Age's Beginning. VDMA reports on "augmented reality-powered processes in the textile sector."

The speakers and subjects combine a great deal of knowledge with cutting-edge technology. Arash Rezaey of Aachen University (ITA) will speak on the topic of - AR/VR in the Textile Industry: What is feasible and what is not.

Martin Plutz and Nikhil Venkateshan of oculavis, on the other hand, will lecture on Empowering People through Augmented Reality.

Their presentation quickly demonstrates how the integration of new cooperation forms into industrial processes makes services more durable, reduces travel expenses, minimises machine downtimes, and allows for new digital business models in service for textile machinery makers.

SCHWING Technologies' Veit Straubinger will discuss how the firm uses remote service to provide virtual commissioning, maintenance, and training to clients all around the world.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.  

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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01 November 2021, Mumbai:

The serious bidders in fray for ailing Sintex Industries Ltd are as RIL in partnership with Ares SSG capital-backed Assets Care & Reconstruction Enterprises Ltd, a Welspun N Group company called Easygo Textiles Pvt Ltd, and Trident group ET that have so far believed to have submitted firm bids for Sintex which is up for grab. ET

Reports further state, "There are two more potential bidders in the form of the Gujarat-based manufacturer of textiles and yarns were from Himatsingka Ventures Pvt Ltd and GHFC Ltd.

Sintex Industries Ltd, which is currently already undergoing corporate insolvency and resolution process, reportedly already have received multiple (EOIs) expressions of interest including a few bids that include marquee foreign fund CarVal Investors and Varde Capital-backed Aditya Birla Asset Reconstruction Company to name a few so the process is on track this way.

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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