16 October 2023, Mumbai

Rajendra Agarwal is a respected leader in the yarn industry. He has a gold medal in Textile Technology from V.J.T.I., Mumbai. He is known for his vision and innovation.
Recently FICCI invites him to TAG 2023 panel at Mumbai hotel.
As the Managing Director of Donear Group, he has led the company’s change from a fabric textile company to India’s top Lifestyle & Fashion house. He has planned and executed the company’s expansion and diversification.
Donear Group’s Achievements He has created new fabrics, products, and marketing strategies.
He has also acquired two famous textile companies and four well-known brands. He has made Donear Group the leading producer of branded menswear suiting fabric with various high-quality fabrics. He has also ventured into the retail sector with three brands.

Latest Textile Events

13 October 2023, Mumbai

Intex India has emerged as the unrivaled sourcing destination for professionals in the textile and apparel industry, offering a comprehensive platform that spans sourcing, networking, learning, and innovation across the entire textile value chain.

With its expansive global reach and unwavering commitment to excellence, Intex plays a pivotal role in shaping the future of textiles, not only in India but across the South Asia.

In 2023, Intex India will open its doors at the India International Convention & Expo Centre (Yashobhoomi) in Dwarka, New Delhi, from December 7 to 9.

Premier B2B textile sourcing show

Intex India is more than just a trade show; it's an annual gathering of industry leaders, innovators, and stakeholders, where Indian and global textile suppliers converge. It serves as the preeminent B2B international textile sourcing event, attracting numerous exhibitors, buyers, and professionals who are integral to the textile and apparel industry's vibrancy.

This year's edition promises to be nothing short of excellent, featuring over 300 companies, both domestic and international. What sets this edition apart are the special featured events that are poised to captivate the attention of Indian and global industry professionals.

Connecting the global textile ecosystem

Intex India stands as a beacon for global textile sourcing, fostering a seamless connection between exhibitors and buyers from diverse across the world. It offers a comprehensive sourcing solutions and access to the rich and diverse tapestry of the textile and apparel industry. This convergence of industry players is a testament to Intex's role in facilitating international business relationships and promoting cross-cultural collaboration.

The fair will also serve as a dynamic platform that caters to the needs of textile manufacturers, suppliers, brands, exporters, and various industry professionals enabling the industry to gain direct access to the Indian, South Asian, and global markets. 

A history of success

Since its inception in 2015, Intex has gone from strength to strength. Through the past 12 editions, it has connected over 50,000 trade buyers from over 35 countries with over 1,850 textile suppliers from 20 countries. This remarkable track record underscores the event's continued growth and its vital role in facilitating international trade relations.

A catalyst for growth, Intex India offers a unique opportunity for networking, knowledge sharing, and business expansion. It caters to a wide spectrum of professionals, ranging from textile manufacturers and suppliers to designers and entrepreneurs. 

The trade show also exhibits latest textile innovations and industry trends. It functions as a hub for the exchange of ideas and knowledge, facilitating discussions on sustainable practices, digital advancements, and design innovations that are shaping the textile landscape. 

Highlights

Intex India 2023 transcends being a mere exhibition. It offers an immersive experience for professionals, with special forums that serve as platforms for industry leaders to exchange ideas, knowledge, and insights. These forums include:

Intex Textile Conclave (ITC): An inspiration and innovation exchange where the industry's brightest minds come together to share their vision for the future.

Intex Investment Forum (IIF): An opportunity to explore the investment potential in India and globally, paving the way for business expansion and collaboration.

Interactive Business Forum (IBF): A convergence of ideas and businesses, where industry leaders chart the course for future growth and development.

Value accretion

As the industry evolves and transforms, Intex India has emerged as a consistent and indispensable force, contributing significantly to the development and progress of the textile and apparel sector in the region.

It is a place where ideas become reality, where connections are forged, and where the textile industry's future is etched. 

Intex India 2023 is not just an exhibition; it's an experience that will shape the industry's future.

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18 October 2023, Mumbai

As per a recent ETRetail report, the Trident Group, a diversified business conglomerate, is facing extensive scrutiny by the Income Tax Department for alleged financial misconduct. The department is conducting nationwide raids as part of an investigation into the group's financial transactions and records.
Background

The Trident Group, founded by Padma Bhushan Awardee Rajinder Gupta, has a significant presence in various industries, including yarn, home fashion, paper, and adaptive power. The group operates its main manufacturing units in Punjab and Madhya Pradesh.
The Income Tax Department's raids are reportedly focused on the group's premises in Ludhiana, Barnala, Dhaula, and Budhni. The department is also investigating the residences of some of the group's top officials.
Nuances

The Trident Group has not yet issued any statement on the raids. However, sources close to the group have denied any wrongdoing.
The Income Tax Department's investigation is still ongoing, and it is too early to say what the outcome will be. However, the raids are a sign that the government is serious about cracking down on financial misconduct by large corporations.

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14 October 2023, Mumbai

Textile Exports Up, Apparel Exports Down in September 2023
Key Findings:
Textile exports up 11.06% YoY in September 2023
Apparel exports down 11.23% YoY in September 2023
Cumulative textile and apparel exports up 1.77% YoY in September 2023, down 24.62% YoY
Indian textile and apparel exports down in April-September 2023
Conclusion:
The decline in textile and apparel exports in September 2023 and April-September 2023 is a matter of concern for the Indian textile industry.
The government and the industry need to work together to address the challenges facing the industry and support its growth.

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Steepest drop since pandemic began

The textile export sector in India has been significantly impacted by the ongoing pandemic, experiencing a steep decline of 12.4% in June 2023 when compared to the corresponding month in the previous year.

This marks the most substantial decrease since the onset of the COVID-19 pandemic. The primary contributing factors to this downturn include the global economic deceleration, elevated inflation rates, and persistent supply chain disruptions.

17 October 2023, Mumbai

Over 700 delegates from the global cotton industry gathered in Singapore from 11-12 October for the International Cotton Association’s (ICA) annual trade event.

Outlines

The event featured keynote sessions, a panel session on traceable supply chains, and networking opportunities.
In his closing speech, ICA President Tim North reflected on his key areas of focus during his presidency, including membership growth, membership structure review, brand and retail committee, default list reduction, and MoUs with key organizations.

He also thanked the members for their confidence and trust.
Next year's ICA event will take place in Liverpool from 16-17 October.

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14 October 2023, Mumbai

What is ITME Africa & Middle East 2023?
ITME Africa & Middle East 2023 is a textile and textile engineering event that will be held in Nairobi, Kenya from November 30 to December 2, 2023.
What is the purpose of the event?
The purpose of the event is to promote joint venture and business cooperation for textile and machine manufacturers, showcase the latest textile technology and innovations, and explore the potential of Kenya as a new business destination.
Who is organizing the event?
The event is being organized by India ITME Society, a non-profit apex industry body.
What are the key highlights of the event?
The event will feature over 23 participating countries from Africa, Asia, Europe, and North America. It is expected to attract over 10,000 visitors from the textile and textile engineering industry.

What did the dignitaries at the curtain raiser event say about the event?
The Guest of Honor, H.E. Shri Rohit Vadhwana, Deputy High Commissioner & DPR (UNEP & UN-HABITAT), High Commission of India, Nairobi, said, "This Exhibition is a significant stride towards enhancing bilateral trade and promoting industrial cooperation between India & Kenya.
This landmark partnership aims to harness the strengths of both nations and drive innovation, sustainability, and economic growth in the Textile Technology & Engineering sector."
The Chief Guest, H.E. Dr. Juma Mukwana, Principal Secretary, State Department for Industry, Republic of Kenya, stated, "ITME Africa & Middle East 2023 hosted in Kenya shall draw more attention to the potential of the Kenyan textile industry and raise awareness about their products and capabilities, both domestically and internationally."

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06 October 2023, Mumbai

The Indian textiles and clothing industry, which is predominantly cotton-based, has been facing unprecedented financial stress and crisis for more than a year due to a number of factors, including:

Geopolitical Tension

Steep fall in global and domestic demands caused by the prolonged Ukraine-Russia war, economic slowdown in the EU, USA, and other countries, 11% import duty on cotton and ill effects of MMF Quality Control Orders that had enabled the indigenous cotton traders and MMF producers to adopt import parity pricing and making the industry uncompetitive in the global market.

Multiple data points

The average monthly textiles and clothing exports during the period April 2022 to August 2023 have dropped by 19% when compared to the previous financial year 2021-22.

The cotton textile exports dropped by 24% and cotton yarn exports dropped by 46%. The entire textile value chain particularly the capital-intensive spinning sector had to cut down its production by 30% to 40% continuously for several months which forced a majority of spinning mills particularly SMEs to become SMA1, SMA2, and NPA accounts.

Under the current crisis, apart from the regular loan repayment schedule, the ECGLS 1.0 has already increased the impact on the financials and the ECGLS 2.0 repayment to be made from October onwards, would drive a majority of the spinning mills to become NPAs.

Appeal

SIMA, the Southern India Mills' Association, has appealed to the Government to provide support to the textile industry by taking the following measures:

Convert ECGLS short-term loans offered as a COVID relief measure with a repayment period of three years to six years term loan so as to reduce the financial burden for the textile units and avoid becoming NPAs both in the interest of the textile industry and also the financial institutions.

Exempt cotton from 11% import duty during April to October (off-season) as was done during the cotton seasons 2021-22 would enable a win-win strategy for both the cotton farmers and the industry, thereby avoiding speculation of cotton prices by the trade.

Business case

Exempt the American PIMA and Egyptian GIZA ELS cotton from the import duty as India does not produce similar quality cotton and therefore will not affect the farmers. He has added that as India consumes around 45% of the PIMA and GIZA cotton produced per year the import duty removal is essential to sustain the market share already established by the country.

SIMA Chairman Dr. S. K. Sundararaman has said that the financial viability of the spinning mills in South India, particularly in Tamilnadu, which accounts for 45% of the production capacity, is at stake under the current scenario.

He has also highlighted the steep increase in power tariff for the SME spinning mills up to Rs.2.35 per unit and for HT and EHT consumers by Re.1.00 per unit, which has increased the cost of production significantly as power accounts for over 40% of the total manufacturing cost.

SIMA has appealed to the Government to take immediate steps to address the financial stress being faced by textile units in the country and to protect the jobs of millions of workers who depend on the industry for their livelihood.

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