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Apparel 2021-09-13

States will compete for a place in the MITRA textiles initiative

13th September 2021, Mumbai:

Due to a high level of interest in the program, the Ministry of Textiles wants to use a "challenge method" to choose states that will be authorized as venues for its Mega Investment Textiles Parks scheme.

“We are anticipating [cabinet] clearance on the MITRA plan in the next 15 days,” textiles secretary UP Singh told the Press Trust of India. Due to significant levels of demand from various states, some of which desire multiple parks in their state, the ministry would “follow a challenging technique to choose states,” according to Singh.

The MITRA project, which aims to improve India's textile sector, would see six or seven textile parks built around the country. These parks will serve as industrial hubs, generating jobs and providing access to cutting-edge textile technologies. Following the submission of expressions of interest, the ministry will request papers from interested states and undertake an examination to determine which states are the greatest fit for the program.

Raw resources and adequate land availability will be deciding considerations.

The plan was included in the government's Union Budget for the fiscal year 2022, and it is presently awaiting approval. “To exploit commercial possibilities, we need rivalry among states, and we will see such competitiveness under the MITRA scheme,” said Textiles Minister Piyush Goyal. “We need to finish six to seven textile parks,” says the executive.

States will have to make appealing commitments for land, labor laws, infrastructure, and power.”

Working at Ministry of Textiles | Glassdoor

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Apparel 2021-09-13

States will compete for a place in the MITRA textiles initiative

In FY21-22, the Indian government will provide Rs. 56,027 crore and will pay off all outstanding export incentives

11th September 2021, Mumbai:

The Central Government has agreed to allocate Rs. 56,027 crore in FY21-22 alone to distribute all pending export incentives owed to exporters, providing a significant boost to exporters.

This figure comprises claims for MEIS, SEIS, RoSL, RoSCTL, and other scrip-based schemes from previous policies, as well as remission support for RoDTEP and RoSCTL for exports in the fourth quarter of FY20-21. According to the government, rewards would be distributed to over 45,000 exporters, with roughly 98 percent of them being small exporters in the MSME category.

The government said in a statement that the Rs. 56,027 crore arrears are for various export promotion and remission schemes, including MEIS (Rs. 33,010 crore), SEIS (Rs. 10,002 crore), RoSCTL (Rs. 5,286 crore), RoSL (Rs. 330 crore), RoDTEP (Rs. 2,568 crore), and other legacy schemes such as Target Plus (Rs. 4,831 crore).

This sum is in addition to the Rs. 12,454 crore in duty remission for the RoDTEP program and Rs. 6,946 crore for the RoSCTL scheme already announced for shipments produced this year (FY21-22).

Under RoSCTL and RoSL, the clothing sector would catch up on backlogs, and all players in the interrelated supply chains would be bolstered to satisfy holiday season demand in foreign markets. Export claims for previous years must be filed by December 31, 2021, or they will become time-barred.

The online IT site will soon be able to accept MEIS and other script-based applications, and it will be linked to a strong mechanism established by the Ministry of Finance to track the allocation and disbursement of export incentives within a budgetary framework.

The decision to clear all pending export incentives within this fiscal year, notwithstanding other financial constraints deriving from the epidemic, is intended to provide timely and critical assistance to this important pillar of the Indian economy.

It should be noted that many trade associations and business leaders have repeatedly recommended the clearing of these monies. Tirupur, India's largest textile manufacturing cluster, has a RoSCTL claim for Rs. 3,750 crores outstanding.

Since January 1, 2021, RoSCTL benefits have been pending. Exporters will have additional working capital as a result of the availability of these monies. Exporters of apparel have applauded the government's move. Dr. A. Sakthivel, Chairman of the Garment Export Promotion Council (AEPC), stated that it will assist apparel exporters in securing more export orders for the next festive season, allowing the nation to meet its $400 billion goods export objective.

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Apparel 2021-09-11

In FY21-22, the Indian government will provide Rs. 56,027 crore and will pay off all outstanding export incentives

Growing online shoppers will boosts e-com during upcoming festive season

8th September 2021, Mumbai:

Year 2020 proved to be a revolutionary for Indian e-commerce industry. With most physical stores remaining closed due to the pandemic, consumers shifted to online shopping. This not only transformed the way brands operated and grew their business but also altered consumers’ shopping behavior.

Even now, consumers hesitate to return to in-store shopping completely; especially those in Tier II and III cities. They prefer the e-commerce retail that offers an opportunity to shop as per convenience.

As per a Business Insider report, India is one of the most notable e-commerce markets globally. It has the world’s second largest internet base with around 480 million internet users. Of these, 90 million are online shoppers, estimates management consultancy RedSeer. It projects, Indian shoppers from small towns and cities will contribute $150 billion to e-commerce GMV until 2030.

Another survey by The Trade Desk and YouGov highlights, around 82 per cent consumers shopped online at least once a month over the past six months. Titled ‘The Festive Season Pulse 2021’, the study says, 91 per cent consumers plan to shop online during the upcoming festive season, of which 60 per cent plan to explore new brands.

New campaigns, discounts an attraction

This boost in consumer sentiment will encourage, e-commerce players to launch new festive campaigns and discount schemes. Online fashion retailer Myntra for example will organize the ‘Big Fashion Festival’ during the 30-day period leading up to the festive season. This will be followed by the Myntra Diwali Sale that will focus exclusively on ethnic wear. The sale will also focus on several celebrity-led digital campaigns with Rajkummar Rao, Sanya Malhotra and Farhan Akhtar. Ayyappan Rajagopal, Chief Business Officer, Myntra says, they expect this festive season to be bigger than last year with more customers using online channels for purchases. The platform expects demand from all markets including metros, Tier I, II, III cities to rise and will look to double its customer base during this period.

E-commerce platforms also plan to incorporate new technologies and marketing initiatives to offer customized and personalized products to consumers. They will increase the use of social commerce by launching new D2C fashion platforms like Bewakoof.com. For example, Bewakoof plans to launch a 360-degree campaign in October for upcoming festive season. It also plans to launch a new gamification-led loyalty program offering new and exclusive products for members. Their plans include capitalizing on the demand for winter wear with more investments and increasing marketing budget for the season to 15 per cent.

Personalized products to narrow sales gap

E-retail platform OLX plans to narrow the gap between its pre and post-COVID sales offering more personalized shopping experiences. It has already digitized the entire process of online retailing, including verification of all premium items. Similarly Amazon plans to enhance its range by launching new products across home & kitchen, fashion & beauty, appliances and smartphones, grocery categories. With more shoppers shifting to online, the e-commerce industry is on a robust growth trajectory.

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Apparel 2021-09-08

Growing online shoppers will boosts e-com during upcoming festive season

V-Mart Retail footfalls reach 90% of pre-COVID levels

7th September 2021, Mumbai:

Footfalls at V-Mart Retail stores have reached 80-90 per cent of pre-COVID levels, says Anand Agarwal, Chief Financial Officer. Agarwal believes, consumer sentiment has become more indulgent as a lot of occasion buying is happening against last year’s need-based buying.

In August, V-Mart witnessed growing demand for fashion, occasion-led apparel amongst its consumers. The company recently acquired 74 stores from Arvind. Through these stores it aims to integrate the entire store chain system, get consumer confidence back and identify areas to once again turn this brand into a profitable venture. In the long term, it aims to bring the brand on par with the the operating profit levels of V-Mart.

V-Mart also plans to expand operations across India with special focus on South India. The retailer owns, operates, and franchises a chain of family lifestyle stores in India. It operates medium sized hypermarket format retail stores that sell clothes, accessories, and footwear for men, women, and kids, cosmetics, luggage, toys, and games, and food, non-food, and staple items.

Anand Agarwal, CFO, V-Mart Retail - Indiaretailing.com

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Apparel 2021-09-07

V-Mart Retail footfalls reach 90% of pre-COVID levels

Aditya Birla Fashion Retail (ABFRL) sets its eye on a ₹25,000 crore turnover through 5 years

10th September 2021, Mumbai:

Fashion retailer Aditya Birla Fashion Retail (ABFRL) is gearing up to clock revenues of ₹ 25,000 crore after five years, announces chairman Kumar Mangalam Birla told shareholders at the company’s annual general meeting (AGM) 9th Sep.

The clear visibility is there as the fashion retailer looks to pivot ethnic wear clear as in-focus area.

Birla expressed his satisfaction around recovering economy and improving business & consumer sentiments on the back of the fact that vaccination has made good progress, and that the latest GDP growth of over 20 percent in Q1FY22, signals that a visible recovery is in play.

Despite the terrible 2nd wave blow of the pandemic on the retail sector, markets are expected to return towards normalcy with the advent of festivity, the underlying trend of value migration from the unorganized to the organized sector, and improving digital adoption is only making a case for cautious optimism on the retail sector going forward.

Kumar mangalam birla

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Apparel 2021-09-10

Aditya Birla Fashion Retail (ABFRL) sets its eye on a ₹25,000 crore turnover through 5 years

Big Day! Cabinet approves ₹10,683 crore PLI scheme for textile sector

8th September 2021, Mumbai:

Textile Ministry today made an empathic announcement that the Cabinet has approved the proposal for a production-linked incentive (PLI) scheme for specific segments in the textiles sector.

The communication underlined that up until now we have primarily focused on cotton textile. But the fundamental fact is that 2/3 share of the international textile market is of man-made & technical textile.

This comes on the back of the already announced slew of measures under the new Textile ministry.

The minister of textiles outlined that factories based around aspirational districts or Tier-3 & Tier-4 cities will be given a special priority, which of course will give a distinct benefit to states such as Gujarat, Uttar Pradesh, Maharashtra, Tamil Nadu, Punjab, Andhra Pradesh, Telangana. “We hope that this decision will produce some global champions," H'ble TM Piyush Goyal alluded.

According to sources with a financial outlay of Rs 10,683 crore over five years to boost domestic manufacturing and exports from the sector, this will empower trade to enhance the sector's competitiveness and manufacturing viability.

To put in quick context, "The Cabinet had earlier approved PLI schemes in 13 key sectors for enhancing India's manufacturing capabilities and exports".

The ambitious scheme aims to create world-class global champion companies in these segments as NITI Aayog envisages the schemes to deliver tangible results.

The decision was taken in a meeting that was chaired by Prime Minister Narendra Modi.

CBSE Class 12 exam cancelled but there will be an option to take the exam later | Latest News India - Hindustan Times

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Apparel 2021-09-08

Big Day! Cabinet approves ₹10,683 crore PLI scheme for textile sector

E-commerce platform 'Ikkivi' launches new size inclusivity campaign

7th September 2021, Mumbai:

Multi-brand e-commerce platform Ikkivi has launched a size inclusivity campaign with a group of influencers. The campaign aims to create awareness amongst consumers and offer people across the world an opportunity to buy sustainably made clothes in a range of sizes.

Aimng to be 100 per cent size inclusive by June 2022, Ikkivi currently retails clothing by eco-friendly and sustainable women’s wear brands including Kanelle, The Summer House, etc. Its new size-inclusion campaign promises to provide garments in sizes 2XS to 5XL with no added cost for larger sizes. For this campaign, Ikkivi spoke with six women from all over the world who are challenging the fashion business in influential ways and trailblazing powerful conversations on the subject, showcasing the urgency to look into contemporary models and issues that impact us at grassroots levels, says Nivi Murthy, Founder.

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Apparel 2021-09-07

E-commerce platform 'Ikkivi' launches new size inclusivity campaign

Textile companies applaud the Centre's incentive schemes

9th September 2021, Mumbai:

The Indian Technical Textile Association (ITTA) applauded the Union government's decision to allocate Rs 10,683 crore for production-linked incentive (PLI) programs for MMF garments, MMF fabrics, and 10 technical textiles segments/products.

“PLI is a game-changing initiative that will breathe fresh life into the MMF and technical textiles segments,” said S K Sundararaman, head of the ITTA. According to him, the program will hasten the development of world-class champions in MMF and technological textile goods in a short period of time.

The plan has two investment models: one with a Rs 300 crore investment and the other with a Rs 100 crore investment, both with varying reward rates for a five-year period. The government wants to encourage investment in aspirational regions, particularly in tier 3 and tier 4 cities and rural areas. Tamil Nadu, Maharashtra, Gujarat, Telangana, Andhra Pradesh, Rajasthan, and Punjab, all of which have a strong textile ecosystem, might benefit from the plan and attract investments, according to Sundararaman.

About Us - Shiva Texyarn Limited Coimbatore - Textile Company India

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Apparel 2021-09-09

Textile companies applaud the Centre's incentive schemes

As resort clothing sales continue robust, Verandah extends its international distribution network

7th September 2021, Mumbai:

Verandah, a resort clothing company, has opened at Sani Resort in Greece, expanding its international distribution network. During the epidemic, vacation clothing has been a prominent segment of the business.

Despite the fact that the epidemic forced people to stay at home and forced trip plans to be canceled, Vogue India stated that resort clothing has become a hot product category for Indian buyers. As people acclimatize to beginning events around the country, resort clothing has gained new popularity as a transition between leisurewear and function wear, according to Verandah's creator Anjali Patel Mehta.

According to Patel Mehta of Vogue India, "people are now adopting it as everyday clothing." “At Verandah, we've always promoted the sensation of being on vacation, even if you're not.” It's the exact vibe that shoppers are looking for right now. Resorts are affected by seasonal weather changes when they are located outside of the United States. It was primarily associated with the festive season in India.

However, as the global worldview evolves, this is changing.” In the winter of 2020, Verandah established a flagship store in Goa, demonstrating the company's ongoing development despite the epidemic.

Patel Mehta believes that the resort wear trend will continue and that resort clothing would replace more structured occasion clothes for private parties over the forthcoming festive season.

“Many of our clients first ‘shopped onboard' for vacation attire, but have since turned to us for custom resort and ready-to-wear,” Patel Mehta added. “In India, resort apparel was frequently likened to high-street, and customers expected things to be affordable. This mentality is progressively shifting.” The pattern does not appear to be unique to India. As travel in Europe reopens, Verandah's collection of flowy dresses and cover-ups will now be available at Sani Resort in Greece, the company said on Facebook.

CORALINE SHORT

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Apparel 2021-09-07

As resort clothing sales continue robust, Verandah extends its international distribution network

Clear ROSCTL pending claims as soon as possible! Exporters in India are urging the government to take action

6th September 2021, Mumbai:

Indian exporters have urged the government to expedite the resolution of pending Rebate of State and Central Taxes and Levies (ROSCTL) claims, citing India's apparel (woven + knitwear) exports of Rs. 75,250 crore from January 1 to August 31, 2021, and the RoSCTL pending claim to the apparel sector of Rs. 3,750 crore.

Raja M. Shanmugham, President of the Tirupur Exporters' Association (TEA), appealed to M. Ajit Kumar, Chairman of the Central Board of Indirect Taxes and Customs (CBIC), for assistance in obtaining RoSCTL benefits, which had been waiting since January 1, 2021.

Despite the fact that the government has announced the continuance of RoSCTL on clothing and made-up exports at the same rates until August 13, 2021, Raja alleges that the RoSCTL outstanding claims have not been resolved till now.

He pointed out that the Tirupur export industry, which accounts for 95% of MSME units, has been hit hard by the second wave of the epidemic and is failing to satisfy its statutory financial obligations month after month.

“I am confident that the ongoing problem will be resolved soon, since the Central Government is now focusing more on export development and attaining the US $ 400 billion objective for the current fiscal year,” Raja added.

Rebate of State and Central Taxes and levies (RoSCTL)

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Apparel 2021-09-06

Clear ROSCTL pending claims as soon as possible! Exporters in India are urging the government to take action

Generate global competitiveness to take on rivals from Bangladesh and Vietnam, textiles secretary Upendra Prasad Singh

9th September 2021, Mumbai:

As is widely known that there is some space been vacated by China in certain Textile categories: PLI would essentially take care of the disability our companies face from foreign competitors because of several reasons not so effective FTAs done in the past Or labour/ currency arbitrage advantage enjoyed by our competing nations.

It will also help generate economies of scale (EOS) capabilities in the sector facilitate Indian companies compete with rivals from Bangladesh and Vietnam, alludes textiles secretary Upendra Prasad Singh.

He also emphasized why the Textile sector takes primacy in the Indian economy. He outlined that Textile is 2nd largest employer and generates maximum gainful employment per crore investment across sectors. Textile contributes 2.3% to Indian GDP, 7% of the Industrial Output, 12% to the export earnings of India and employs more than 45 million people which is 21% of total employment.

Also, India is the sixth-largest producer of Technical Textiles with a 6% Global Share.

Cotton production supports 5.8 million farmers and 40 to 50 million people in allied sectors. India being a cotton-producing nation and said to be a tropical country does more than 70% of cotton garments v/s man-made fibre (MMF) garments which exactly is the reverse of the worlds Apparel trade is.

PLI for textile: Govt targets 50 laggard, high-potential products - The Financial Express

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Apparel 2021-09-09

Generate global competitiveness to take on rivals from Bangladesh and Vietnam, textiles secretary Upendra Prasad Singh

Amazon, Flipkart add new facilities for upcoming festive season

7th September 2021, Mumbai:

E-commerce firms such as Amazon and Flipkart are adding new facilities ahead of the upcoming festive season.

Amazon India is increasing its storage capacity by 40 per cent over the last year. With this expansion, Amazon will have more than 43 million cubic feet of storage capacity, across 15 States, supporting around 850,000 sellers across India. The expansion is in line with Amazon India’s continued efforts to heavily invest in the country and create tens of thousands of direct and indirect work opportunities. Amazon India’s overall fulfillment network will be spread across a floor area of more than 10 million square feet. This is more than the land size of 125 football fields, housing millions of products from notebooks to dishwashers.

Flipkart is adding new facilities ahead of the upcoming festive season. Its new fulfilment centers will help create deeper capabilities to support thousands of sellers, MSMEs (micro, small and medium enterprises), small farmers to cater to the growing customer demand. They would also create more employment opportunities while enabling faster deliveries for consumers.

Flipkart recently strengthened its supply chain network in Karnataka with the addition of three new facilities ahead of the upcoming festive season. These new facilities will serve sellers of large appliances, furniture, mobiles, apparel and electronics and are located in Kolar, Hubli and Anekal. The facilities are helping more than 10,500 sellers. The expansion will further contribute to the state economy and create additional 14,000 direct and indirect job opportunities, as the sellers get national market access for their products.

Recently, Flipkart also strengthened its tech-enabled supply chain network in Maharashtra with the addition of four new fulfilment and sortation centres to support local sellers from the state and cater to the growing demand for e-commerce. The new facilities located in Bhiwandi and Nagpur are helping create over 4,000 direct and indirect jobs. Apart from growing customer demand, this expansion comes on the back of a growing seller count from the state which rose by 30 per cent in the last year.

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Apparel 2021-09-07

Meesho introduces new policy to promote employee well-being

6th September 2021, Mumbai:

E-commerce platform Meesho has introduced a 10-day company-wide break and a ‘Reset & Recharge’ policy to promote employee well-being. From November 4 to 14, Meesho has directed all employees to completely unplug from their work in order to care for their health and general wellbeing, reports Fashion Network.

The move is aimed at prioritizing employees’ mental health during the current pandemic times. The new policy is designed to spark a wider conversation about the importance of mental health support in the Indian corporate sphere.

Based out of Bengaluru, Meesho retails a wide range of brands in categories including men’s, women’s, and children’s clothing, jewellery, and accessories. The business launched a groceries segment during the pandemic to cater to customer needs and operate within lockdown regulations.

It also raised $300 million (Rs 2,191 crore) in a new round of funding led by SoftBank Vision Fund, giving the marketplace a valuation of $2.1 billion.

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