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Vishal Fabrics clocks historic revenue, EBITDA & PAT

20 May 2022, Mumbai:

Vishal Fabrics plans to add another facility to manufacture 10 million meters of denim fabrics per annum in H2FY23. The company recently added another facility to manufacture 10 million meters of denim fabrics per annum.

READ Vishal Fabrics continues to focus on 'Quality & Innovation'

Currently, it has eight denim manufacturing facilities with an annual capacity of 80 million meters per annum. The two new facilities will boost the annual capacity to 100 million meters per annum at Dholi Unit. Total investment in this project will be Rs 30 crore and funded by internal accruals.

RELEVANT NEWS The sale of finish textiles at Vishal Fabrics Limited (India) goes up

Vinay Thadani- Chief Financial Officer and Chief Operating Officer, Vishal Fabrics informs, the company’s export team plans to add 12 countries from the southern region and is working on Latin America and European countries & Pre covid, Vishal fabrics focused on the domestic segment.

However, now it is focusing more on the export front.

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CREDITS: Vishal Fabrics (The news article has not been edited by DFU Publications staff).

Vishal Fabrics clocks historic revenue, EBITDA & PAT

Piyush Goyal Multi-stakeholders Textile Meet: Trade Still Staring @ Uncertainty

20 May 2022, Mumbai:

Even after Piyush Goyal calls for mutual agreement. No consensus yet among cotton textile players.

Current availability and demand

With the traders
44 lakh bales
With mills
45,00,000 bales

ALSO READ Elevated Cotton Prices: Its Impact On Textile Exports & Domestic Demand
From summer crop 5-6,00,000 Bales from Tamilnadu, Karnataka
Expected import; 3-4 lakh bales till September
The monthly cotton requirement is 20-22 lakh bales.

Cotton production is down 7.35% to 315 lakh bales as per the latest third adventure estimate.

Rate of Gujarat 29 mm cotton on Thursday at rupees 1,02,000 per candy, up from 46,700 per candy a year ago.

RELEVANT NEWS CITI hails withdrawal of import duty on Cotton

Cotton traders want cotton rates to drop first.

The raw cotton, cotton yarn, and textile industries are unable to reach a consensus on how to address high cotton prices after textile minister Piyush Goyal asked them for a mutually agreeable solution to avoid extreme steps by the government.

Cotton prices in India have risen due to strong demand from the cotton market, diminishing stockpiles, and a 10% import levy on cotton. In July, the price of cotton increased by $3,800 per confection in 15 days. The sharp rise in prices has thrown the business into disarray and rendered Indian exporters uncompetitive.

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CREDITS: ET Dt 20-05-2022 (The news article has not been edited by DFU Publications staff).

Piyush Goyal Multi-stakeholders Textile Meet: Trade Still Staring @ Uncertainty

Trützschler sets ambitious targets for climate neutrality

19 May 2022, Mumbai:

Trützschler is taking decisive action to further minimize our carbon footprint and maximize our contribution to #sustainability. 

ALSO READ Need for large fashion brands to accelerate climate change intiatives: Report

It is striving to achieve three specific and measurable targets that will support our impact on the biggest challenge our planet has ever faced.

1) Reduction of CO2 emissions by 50 % by 2025 at our headquarters in Mönchengladbach, Germany

2) Climate-neutrality by 2030 at all German sites

3) Climate-neutrality by 2035 worldwide

RELEVANT NEWS CanopyStyle's Movement to Save Forests Grows

How it is going to achieve these targets?

With our technologies, our processes, and our people! Our technologies save resources, cut waste, and reduce emissions for customers worldwide. Our production processes are shaped by our passion for energy savings and resource-efficiency and our people are committed to a safer and more sustainable future.

Together, these three factors will contribute to tangible results promoting environmental and social progress.

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CREDITS: Trützschler (The news article has not been edited by DFU Publications staff).

Trützschler sets ambitious targets for climate neutrality

Piyush Goyal: To Hold Textile Industry Multi-Stakeholders' Meeting Today

17 May 2022, Mumbai:

*To give relief to the textile industry, Union Textiles Minister Piyush Goyal is going to hold a meeting with the stakeholders of the industry. Under the chairmanship of Piyush Goyal, this meeting is going to be held today at 1 pm. Cotton, textile, and yarn industries and other stakeholders of the industry will be present at this meeting.

ALSO READ Elevated Cotton Prices: Its Impact On Textile Exports & Domestic Demand

*According to the information, in this meeting, the Textile Minister will discuss many issues including giving relief to the textile industry, controlling the ever-increasing prices, and reducing the duty.

RELEVANT NEWS CITI hails withdrawal of import duty on Cotton

Cotton prices in India have risen due to strong demand from the cotton market, diminishing stockpiles, and a 10% import levy on cotton. In July, the price of cotton increased by $3,800 per confection in 15 days.

The sharp rise in prices has thrown the business into disarray and rendered Indian exporters uncompetitive.

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CREDITS: *Zeebiz

Piyush Goyal: To Hold Textile Industry Multi-Stakeholders' Meeting Today

Bangladesh Denim Expo 12th edition ends successfully

19 May 2022, Mumbai:

Mostafiz Uddin, the founder of the Bangladesh Denim Expo, said that some 85 companies from 39 countries came to showcase their products at the exhibition. After two years of suspension due to Covid-19, the response from participants in the event was beyond imagination, he said.

ALSO READ 12th edition of Bangladesh Denim Expo to happen in 2022

Bangladesh Denim Expo in Dhaka on 10-11 May, a new edition after a two-year break, characterized by a focus on sustainability and the central theme "Beyond Business".

The 2-day Bangladesh Denim Expo ends in Dhaka. The two-day-long Bangladesh Denim Expo, aimed at promoting Bangladeshi denim goods concluded at the International Convention City (ICCB) in Dhaka.

RELEVANT NEWS Bangladesh Denim Expo in Dhaka on 11th and 12th November: An Overview

Bangladesh Denim Expo is The One-Stop Innovative Denim Sourcing Platform for Denim Industry. Bangladesh Denim EXPO is an International Denim Trade Show, The exhibition is a one-stop innovative sourcing platform in Bangladesh for the global denim industry.

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CREDITS: Bangladesh Denim Expo BD Denim EXPO (The news article has not been edited by DFU Publications staff).

Bangladesh Denim Expo 12th edition ends successfully

Premium Textile Japan S/S'23 event, to be held on May 25-26

18 May 2022, Mumbai:

Enhancing new product development and seeking business opportunities.

The Premium Textile Japan (PTJ) Spring/Summer 2023 event, organised by JFW (Japan Fashion Week Organization), will be held from May 25-26 at the Tokyo International Forum / Exhibition Hall E-1 and is set to host 71 exhibitors, three of whom new, occupying 92 booths on this occasion.

ALSO READ Japan: Garment sales income fell in Feb'22

It is also delighted to announce that the well-reputed projects;  JFW Sustainability Project and  JFW Textile Online Salon will continue as ongoing initiatives.

COVID-19 has had a considerable impact on the textile industry.

RELEVANT NEWS Uniqlo parent Fast Retailing sees profit rise this fiscal year

Compounding this, many exhibitors cite their main concern as ‘the recent rise in raw material costs.’ Businesses are pondering whether to pass on product price increases amid near-monthly cost hikes due to the soaring cost of naphtha. The same applies to natural fibres, which are severely affected by ever-costlier raw materials.

Amid such challenges, certain exhibitors are still striving to enhance the cultivation of new customers by rolling out new products.

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CREDITS: PTJ (The news article has not been edited by DFU Publications staff).

Premium Textile Japan S/S'23 event, to be held on May 25-26

Piyush Goyal: Multi-stakeholders review meet to look into possible solutions for rising cotton prices

16 May 2022, Mumbai:

Piyush Goyal, Union Minister of Commerce & Industry and Textiles has called a meeting of all stakeholders to look into possible solutions for rising cotton prices. Upendra Prasad Singh, Textile Secretary believes government intervention is necessary to curb rising cotton prices.

ALSO READ Elevated Cotton Prices: Its Impact On Textile Exports & Domestic Demand

However, the intervention should be done in a manner that does not adversely affect any one segment of the value chain, he warns. Cotton prices have almost doubled from Rs 55,000 since the beginning of the current season seven months ago to about Rs 1 lakh per candy, points out Sanjay Jain, Managing Director, TT Ltd. The extraordinary rise has destroyed demand for cotton-based textiles in India, threatening the livelihoods of thousands of MSMEs, he opines.

The removal of 11 percent import duty on cotton in mid-April fuelled cotton prices by another Rs 40 per kg across categories earlier this month. This resulted in Tiruppur garments units observing a six-day strike from May 16.

RELEVANT NEWS CITI hails withdrawal of import duty on Cotton

The current rise in cotton prices can be attributed to high global prices and additional freight and handling charges for imported cotton, says Singh. Problems such as port congestions and container availability also fuelled prices in India, he adds.

Exporters seek short-term bans

Garment export organizations like the Apparel Export Promotion Council (AEPC) are seeking government intervention to curb rising prices.

They are demanding a short-term ban on cotton yarn export to stabilize the market. In a recent representation, the AEPC has urged the government to export value-added products like apparel instead of raw materials like cotton and cotton yarn.

The rise in raw material prices has severely impacted the Indian apparel value chain, explains Narendra Goenka, Chairman, AEPC.

Rising garment prices are making it difficult for exporters to achieve their target of $20 billion in exports for FY23, he adds.

Varying demand from exporters

Meanwhile, Tiruppur Exporters’ Association has urged the government to ban cotton yarn exports till prices stabilize.

RELEVANT NEWS SIMA: Free import of cotton, demands cotton textile industry

However, industry demands vary from one another, says Singh. While some demand a ban on raw cotton exports, others are seeking a ban on exports of yarn.

A few are also calling for quantitative restrictions on exports while others are urging for an export duty on raw cotton and cotton yarn. Assuring stakeholders, Singh says, the government will either extend the import duty ban beyond September 30 or apply the deadline to loading consignment into the ship instead of when the ship arrives at the port.

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Piyush Goyal: Multi-stakeholders review meet to look into possible solutions for rising cotton prices

Denim Première Vision in Berlin on the roll

19 May 2022, Mumbai:

ISKO, ISKO™ Luxury by PG, Eurotay, Officina 39, and Wiser Wash hit Denim Première Vision in Berlin.

ALSO READ Denim PV BERLIN On May 17 & 18

ISKO and ISKO™

Luxury by PG ISKO is present at the tradeshow with two stands, one dedicated to ISKO alone and one dedicated to its collaboration with Paolo Gnutti, which has resulted in the ISKO™ Luxury by PG.

EUROTAY

The industry 4.0 leader showcases its future-forward vision and products through the AW23/24 collection. 

OFFICINA39

Officina39 shares its Ozone Booster SMART 03, the latest technological addition by the Trustainable™ collection, the Circular Explorations: Recipe for Change educational project, and the collaboration with Emina Batik and Tintes Egara.

RELEVANT NEWS The CMA, UK may soon issue list identifying/ condemning greenwashing fashion cos

WISER TECH

For the first time ever at an in-person event, innovation and technology company Wiser Tech channels Wiser Globe's forward-thinking vision and displays stunning WOX machinery generation combining advanced hardware technology and software algorithms working on the cloud.

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Denim Première Vision in Berlin on the roll

Textile Ministry Multi-Stakeholders' Yesterday Meeting Outcome

18 May 2022, Mumbai:

To give relief to the textile industry, Union Textiles Minister Piyush Goyal held a meeting with the stakeholders of the industry on 17th May. 

According to the information, in this meeting, the Textile Minister discussed many issues including giving relief to the textile industry, controlling the ever-increasing prices, and reducing the duty.

ALSO READ Elevated Cotton Prices: Its Impact On Textile Exports & Domestic Demand

Cotton prices in India have risen due to strong demand from the cotton market, diminishing stockpiles, and a 10% import levy on cotton. In July, the price of cotton increased by $3,800 per confection in 15 days. The sharp rise in prices has thrown the business into disarray and rendered Indian exporters uncompetitive.

The minister said that the import of cotton will be permitted duty-free till the bill of lading is dated September 30 this year and not based on the bill of entry at Indian Ports.

RELEVANT NEWS CITI hails withdrawal of import duty on Cotton

The government will also form a cotton council that will study all the matters relating to cotton and will start functioning with the membership of all stakeholders and will provide its report to the government on the measures to be initiated immediately.

The minister also announced the formation of a cotton advisory board with representation from the textiles ministry, agriculture, agricultural research, commerce, finance along with industry representatives.

RELEVANT NEWS Piyush Goyal: To Hold Textile Industry Multi-Stakeholders' Meeting Today

This comes amid speculation that the government may ban the export of both commodities as a temporary measure to calm down the prices. Among the major suggestions that the industry came out with include a short-term ban on cotton exports, as no farmer is going to get affected.

This is because cotton is now left with the traders only.

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CREDITS: *Zeebiz Business Standard (The news article has not been edited by DFU Publications staff).

Textile Ministry Multi-Stakeholders' Yesterday Meeting Outcome

Denim PV BERLIN On May 17 & 18

14 May 2022, Mumbai:

A new edition full of promise is to be discovered on May 17 & 18.

Here is a sneak peek of what’s in store for you in Berlin

Save the date for your next meeting with the denim community!

ALSO READ PHYSICAL & SAFE: MUNICH FABRIC START & BLUEZONE ALMOST AT PRE-PANDEMIC LEVEL

May 17 & 18, 2022 Denim PV BERLIN + Digital Denim Week May 16 – 20, 2022 A hybrid event, both physical & digital at Arena Berlin.

On the agenda of this new Berlin edition:

A Trend Area and fashion seminars to decipher the Autumn-Winter 23-24 season’s trends. In-person conferences and Smart Digital Talks to discuss the challenges of the denim industry and the latest eco-responsible innovations.

RELEVANT NEWS The CMA, UK may soon issue list identifying/ condemning greenwashing fashion cos

A high-quality offer with the major players of the denim community: weavers, accessories and components manufacturers, garments manufacturers, laundries, and fabric finishers. A new and unique location in the heart of a cosmopolitan city.

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CREDITS: Denim PV BERLIN (The news article has not been edited by DFU Publications staff).

 Denim PV BERLIN On May 17 & 18

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