Sangam India Limited (SIL), a prominent textile business, reported record sales of Rs. 635 crore in the second quarter of FY22, up 104% year on year. The promoters and Madhuri Madhusudan Kela have contributed Rs. 103 crore to the firm. As of September 2021, the company's total sales were Rs. 1,045 crore, with overseas markets accounting for 37% of revenue.

In Q2 FY22, earnings before interest, taxes, debt depreciation, and amortisation (EBITDA) were Rs. 76.2 crore, up more than 208 percent year over year from 24.7 crores, and better than the previous quarter of Rs. 51.1 crore.

SIL is a leading manufacturer of PV coloured yarn and seamless clothing. The business has also authorised a brownfield development plan of Rs. 137.25 crore in the cotton yarn market, as well as successfully closing a 102 crore term loan with lenders. The project's commercial operation date (COD) will be April 1, 2022.

Sangam India Ltd., founded in 1984, has developed four state-of-the-art manufacturing facilities in Rajasthan's Bhilwara and Chittorgarh.

Annually, the firm manufactures 35 million metres of PV fabric and 48 million metres of denim fabric.

This level of output is achievable thanks to a well-organized manufacturing infrastructure with over 2,80,000 spindles and 4,000 rotors. Its seamless garment production plant, for example, includes 52 seamless knitting machines with a capacity of 5.4 million pieces per year.

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18th October 2021, Mumbai:

IIT Delhi which only is home to the textile sector has taken a defining step by converting its state-of-the-art SMITA (Smart Materials and Innovative Textile Applications) Research Lab to a Centre of Excellence (CoE) in Smart Textiles to give shape to this monumental initiative.

Here it is pertinent to give a backdrop to The SMITA Research Lab CoE in Smart Textiles which has been come into being to fundamentally work in the area of Smart and Functional Textiles using the resource of 'Emerging materials and process technologies, to logically serve the interest of country’s pivoted textile industry. The pivot point here is that this CoE would be:

(a) This is all about the development of highly functional and high-performance textile materials.

(b) This is likely to give a leg-up to so to say to wearable textiles. Besides, it envisages developing multi applications to the functional textiles as a use case.

Textiles have traditionally been a big employer that contributes critically to our economy through both precious forex earner and catering to burgeoning domestic consumption and exports. Noteworthy is that it is in alignment to recently launched National Technical Textile Mission (NTTM) and is sure to lead to the development of Technical Textiles in the country which is really vital to this sector's prospects.

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

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12th October 2021, Mumbai:

Snapdeal’s sales volume in its first sale of the season increased by 98 percent compared to last year. Nearly 60 percent of the company’s total orders came from Tier I, II & III cities accounted for nearly 26 percent of orders, while metro buyers accounted for the balance 14 percent.

The total value of the company’s sales from Tier III towns increased 74 percent over last year. Orders from cities like Srinagar, Shimla, Alwar, Anantpur, Shimoga, Chital, Dhanbad, Imphal, Silchar, Tinsukia, etc while the total value of sales from Tier-II cities like Patna, Meerut, Jodhpur, Rajkot, Jabalpur rose by 90 percent than last year’s festive sales.

Festive season sales in men’s, women’s, and kids apparel categories increased over 224 percent last year. Home and kitchen continued to be a strong performer with more than 95 percent growth over last year’s festive sales.

Snapdeal's data shows that first-time sellers from many small cities like Baleshwar, Suri, Anupgarh, Bharuh, Dhule, Kalol, Malerktola, Sirsi, Thodupuza also registered good sales.

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19th October 2021, Mumbai:

Unified mobile advertising platform MAAS has released a report titled ‘The Dawn of the New-Age Shopper in the New Normal’ that studies the key factors that accelerated e-commerce adoption in India and Southeast Asia in the recent past.

Released in collaboration with US-based mobile app store marketing Intelligence Company, Sensor Tower, the report highlights how COVID-19 has shaped shopping behavior in India.

As per this report, daily active user (DAU) growth in top shopping apps In India accelerated in the past three quarters, after Club Factory’s removal from app stores dampened growth in mid-2020. The top 10 apps averaged more than 7 million DAUs apiece in Q2 2021, up 18 percent year-on-year.

Installation of shopping apps in India showed strong y-o-y growth in July and August 2020 and remained above 2019 levels into 2021. Shopping app installs surged again in July 2021, surpassing 80 million that month, up more than 15 million month-on-month. Meesho alone contributed more than 12 million downloads, up 3.7 million month-on-month.

Day 1 and day 7 retention for the top shopping apps in India reached their highest average since 2020 in Q2 2021. Longer-term retention for the top shopping apps in India peaked in Q3 2020. While retention decreased in the following quarters, it still showed positive growth year-on-year.

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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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14th October 2021, Mumbai:

Sustainable strategic reforms and the steady vaccination drive, opening up of the economy have helped the country on the road to rapid recovery mitigating catastrophic pandemic waves battering alludes, Finance Minister Nirmala Sitharaman.

Vax access for all keys to globally synchronized recovery coneys Hon'ble Finance Minister of India to G20 peers.

The industry experts & chambers are in complete agreement on this that consumer sentiment currently is at its most robust since the onset of the Covid-19 black swan event.

A return to normalcy in the economy has fuelled sustained and solid demand growth in most of the sectors away from consumer durables where still it bounces back, for once sharp rebound in manufacturing puts us in goldilocks situation, on the back of near normalcy there is a buoyancy been witnessed in services activity and on the back of macroeconomic factors only suggest that the economy is seeing uptick tailwind, the September review said.

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

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12th October 2021, Mumbai:

The month-long online event dubbed the "Newhood Shopping Festival," will feature grooming and personal care products, fashion and lifestyle items, skincare, footwear, and homewares, among other categories.

MensXP's private label products, such as MensXP Mud, Fraternity, Mojama, and MensXP Basics, will participate in the sale, as will popular brands like Beardo, True Elements, Mr. Wonker, Wahl, and Neemans, among others.

"After the spectacular success of the prior version of the Newhood Shopping Festival, we are delighted to deliver the second iteration of the much-anticipated festival in its largest avatar yet," Angad Bhatia, founder, and CEO of MensXP, said in a statement about the second edition of the sale event.

We are certain that customers will appreciate festive incentives such as free delivery and additional savings on prepaid orders, in addition to the expanded selection of excellent yet cheap items."

Times Internet, a subsidiary of the Times Group, owns MensXP. Ankur and Angad Bhatia founded the company in 2009, and it now sells over 250 products across a variety of sectors.

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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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18th October 2021, Mumbai:

To enhance its effectiveness and connect its aims with other recently established programmes, such as the production-linked incentive (PLI) scheme and mega parks, the government is proposing a substantial redesign of its flagship incentive scheme for capital investments in the textile and garment sector.

According to Financial Express, a prominent business newspaper, the government has chosen to overhaul the Amended Technology Upgradation Fund Scheme (ATUFS) rather than just renewing it with the same structure.

According to the article, the new system under development would prioritise prompt subsidy disbursement for major projects and better incentivize areas with strong employment potential.

The new programme is expected to complement the PLI and giant textile park schemes by assisting the fragmented textile and garment sector in gaining scale and increasing exports.

It would also make it easier to update current looms to higher-tech models, assure processing quality, and limit fabric imports by garment manufacturers.

ATUFS is one of the most important programmes for the Indian textile sector, which is expected to develop in the near future. Stakeholder consultation on lowering compliance burden in ATUFS was held a few months ago, in keeping with the government's aim to make doing business easier.

The sector has also asked for a five-year continuation of the plan beyond March 31, 2022. In line with the newly established Rs. 10,683-crore PLI plan for these categories, the emphasis on technical fabrics and MMF products might be increased.

While subsidies of up to Rs. 5 crores are now processed in a short period of time (usually a week), anything over this amount for large-ticket projects takes significantly longer.

This procedure is likely to be accelerated. The government put aside an outlay of Rs. 17,822 crore (Rs. 12,671 crore for settling pending claims under the program's prior incarnations and Rs. 5,151 crores for executing the ATUFS) when it announced the scheme in January 2016. By FY22, the programme is expected to attract Rs 95,000 crore in new investments in the textile and apparel sector, resulting in the creation of 3.5 million new employment.

However, it could only incentivize projects worth Rs. 46,861 crore till FY21, with a subsidy payout of Rs. 3,378 crore.

The existing plan (ATUFS) provides a 15% subsidy on capital investments for garments and technical textiles companies, up to a maximum of Rs. 30 crores per investor.

The remaining categories, such as weaving, processing, jute, silk, and handlooms, would get 10% of the total, up to a maximum of Rs. 20 crore.

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14th October 2021, Mumbai:

The International Trade Secretary confirms the beginning of a dialogue on a new export and investment collaborative partnership between the UK and Italy with an eye to promote trade between the two countries.

New international trade minister Anne-Marie Trevelyan made the joint declaration alongside Italian Minister of Foreign Affairs and International Cooperation Luigi Di Maio in Sorrento while traveling to Italy for the G20.

Win-win formula

“Promoting our two-way relationship with Italy is indeed a win-win, which will give a fillip to export opportunities and opens up investment opportunities for our businesses,” said Trevelyan. It is pertinent to mention here that The UK and Italy are already working shoulder-to-shulder to deliver a successful COP26 Summit.

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

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 9th October 2021, Mumbai:

Textile Secretary Upendra Prasad Singh has informed that the government would soon issue the guidelines for the Prime Minister’s Mega Integrated Textile Region and Apparel (MITRA) scheme in the next 30-45 days.

As per Singh, the textiles ministry will first notify the scheme and issue the guidelines in the next one to one-and-a-half months after which, states would submit their preliminary project reports.

Under the MITRA scheme, special purpose vehicles (SPVs) with a 40 percent stake of the Central Government and 51 stakes of the respective state government would be set up. These SPVs would be given on a 50-year lease to the master developer.

The master developer will execute the projects and a concession agreement would be signed with the SPV. We are confident that foreign companies too will invest,” Singh said, adding that the entire process needs to be completed by 2026.

The states would be judged on criteria such as connectivity with industrial corridors, their textile and industrial policies, and labour laws, the secretary said.

Singh said that under the existing Scheme for Integrated Textile Park (SITP), 66 parks were sanctioned, of which 10 were canceled but the rest will be completed.

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18th October 2021, Mumbai:

India-China trade may touch the $100-bn mark this year the way things are panning out. But quite surprising The US is about to pip China as India's largest trading partner.

A low down on India-China trade is," Given the volume which has hit $90.37 billion in the first three calendar quarters it is set to cross $100 billion this year —with a slated hike of 49.3 percent year-on-year (YoY)—notwithstanding there is an ongoing border standoff.

Noteworthy is the slice & dice of business volume is," China's total imports and exports ballooned by 22.7 percent year on year (YOY) to 28.33 trillion yuan (about $4.38 trillion) in the first nine months of the calendar year of 2021, official data showed.

Make no mistakes, "The figure is well above 23.4 percent even from the pre-epidemic level in 2019, according to China’s General Administration of Customs.

This is the important message when the Indian premier has already given a clarion call for ATMA NIRBHAR BHARAT and a semblance is the host of initiatives are already been taken and in the offing to give a leg up to the manufacturing sector in India.

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12th October 2021, Mumbai:

The 6th edition of GMMSA Expo India-2022, the largest garment and knitting technology expo, will be held at Dana Mandi, Ludhiana, from January 23 to January 26, 2022. The show's organisers, the Garments Machinery Manufacturers and Suppliers Association (GMMSA), have announced the dates.

The organisers stated in a statement that the event aims to give solutions to every difficulty in garmenting, from the processing of raw fibres through the final garment ready for sale.

"GMMSA Expo India delivers world class infrastructure and facilities to help exhibitors in displaying their goods and attract industry leaders to increase their productivity, quality, and cost saving," stated Ram Krishan, Chairman of GMMSA. Every year, we get bigger, and we believe that the GMMSA Expo platform will continue to expand and help the industry as a result of GMMSA's hard work and wide vision."

Flat knitting, circular knitting, collar knitting, dyeing, finishing, washing, raising, brushing, polishing, boilers, sewing machines, steam press, tumble dryers, dry cleaning, processing, air compressors, associated machinery, and access will all be on display at the exhibition.

“The goal of this exhibition is to capitalise on the chance to deliver current technology and know-how at the doorsteps of the industry,” said Narinder Kumar, President, GMMSA. We appreciate all of the exhibitors' trust in GMMSA Expo India 2022, and we will continue to work hard to meet high expectations and provide industry-leading quality and service."

GMMSA Expo is a well-organized platform with excellent exhibition standards for much-anticipated and innovative garment machinery upgrades. The exhibition has had a fantastic response in past editions, and machinery manufacturers from other industrial towns in India have inquired and requested that the fair be held in other cities as well.

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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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9th October 2021, Mumbai:

Indian cotton prices are much above the government-set minimum support price (MSP) levels in the crop year 2021-22, posing new challenges for the Indian textile and apparel sector.

According to media sources, the price is likely to remain high due to a significant comeback in post-COVID-19 demand and optimistic emotions due to restricted supply. There have also been a few additional indicators that point to a potential price increase in cotton.

Cotton prices have touched an all-time high of Rs. 7,715 per quintal as the second picking of the raw cotton crop gets underway in Punjab.

This price is approximately 23% more than the MSP. Punjab is one of India's most important cotton-producing states. Cotton prices have also increased to their highest level in a decade, according to The Wall Street Journal.

According to trade and industry veterans speaking at a recent webinar, the Cotton Association of India (CAI) believes that, in addition to reducing India's cotton exports, high cotton prices will reduce the Central Government's cotton procurement budget to a minuscule amount, compared to the Rs. 55,000 crore spent on cotton procurement during the previous two cotton seasons.

"The Cotton Corporation of India (CCI) invested a total of Rs. 55,000 crore and purchased 2 core and 7 lakh bales during the 2019-20 and 2020-21 seasons."

Because cotton prices are now hovering at 30% to 40% over the MSP, we may not need to intervene in 2021-22," said Pradeep Agarwal, Chairman, CCI, a public sector enterprise under the Ministry of Textiles.

Despite a drop in cotton planted area from 133 lakh hectares in the previous year to 125 lakh hectares in the present year, cotton output in 2021-22 is anticipated to be between 355 and 360 lakh bales, virtually identical to last year's production of 355 lakh bales.

Cotton is in high demand from spinning mills in the United States, thanks to high profits and strong export demand. Despite the high price of cotton, mills are anticipated to acquire aggressively since demand and consumption are projected to outstrip supply. According to the latest forecast from the United States Department of Agriculture (USDA),

China's cotton consumption in the current marketing year is anticipated to be 41 million bales, or 8.9 million metric tonnes. This is up 24% in the last two marketing years, thanks in part to a post-pandemic spike in consumer goods demand.

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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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