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Indian textile industry eyes global opportunities amidst challenges

20 December 2023, Mumbai

India's newly-elected president of the International Textile Manufacturers Federation (ITMF), K.V. Srinivasan, sees a significant opening for the country in the global textile market.

With international buyers seeking alternatives to China, India has a prime opportunity. However, global demand slumps and rising inflation pose challenges.

Granularity

Srinivasan notes surprising domestic textile demand lows, even during festivals, emphasizing room for Indian industry competitiveness improvement.

The Southern India Mills' Association (SIMA) recently felicitated Srinivasan, with ITMF Director General Christian P. Schindler highlighting global industry dynamics in a virtual presentation.

Key takeaways:

  • Shifting global demand presents a golden opportunity for India's textiles.
  • Domestic competitiveness and internal demand need urgent improvement.
  • ITMF offers a platform for India to voice concerns and share best practices.
  • Innovation and sustainability are key to long-term success.

Latest Textile Events

 

TextileSector

Birla Cellulose ignites sustainable textile revolution in Karur hub-meet

Birla Cellulose, a trailblazer in sustainable fiber solutions, orchestrated a pivotal hub-meet at The Residency in Karur, spotlighting the revolutionary potential of sustainable Man-Made Cellulosic Fibers (MMCF) within the Home Textiles sector. Attended by 175 influential exporters and company owners from the Karur cluster, the event sought to catalyze sustainable innovation in the industry.
At the core of the discussions was the deployment of sustainable MMCF solutions in the Home Textiles arena, providing a pathway to eco-friendly, high-quality products aligning with contemporary consumer preferences for sustainability. Esteemed value chain partners like AGT Mills, PKPN, Kumaran, and Ultimax actively participated, demonstrating a collective commitment to propel sustainable practices across the textile ecosystem.
Distinguished guests, including K. G. Prithvi and S. Gowrisankar, along with industry stalwarts Perumal and Kaliappan, graced the event, endorsing Birla Cellulose's initiative to guide the industry towards adopting the MMCF range. Industry leaders expressed enthusiasm for integrating Birla Cellulose's fibres into their regular product offerings, marking the commencement of an incubation process for sustainable and economical substitutes.
The spotlight was on Birla Cellulose's innovative Spunshades, featuring Color Lock Technology that prevents fabric fading even after multiple washes. The positive response from industry leaders and exporters reflects a promising trajectory for Birla Cellulose's transformative and responsible innovations, as articulated by Sheerish Kumar, Senior Vice-President of Business Development for Home Textiles at Birla Cellulose.

Birla Cellulose ignites sustainable textile revolution in Karur hub-meet

Birla Cellulose Tops Canopy's Hot Button Report for Sustainable Practices

02 December 2023, Mumbai

Birla Cellulose, a flagship brand of Grasim Industries Ltd., has once again secured the top position in Canopy's Hot Button Report 2023, cementing its reputation as a leader in sustainable Man-Made Cellulosic Fibers (MMCF) production.

This remarkable achievement marks the fourth consecutive year that Birla Cellulose has been awarded the coveted 'Dark Green Shirt' rating, underscoring its unwavering commitment to conserving ancient and endangered forests and promoting circular solutions within the fashion industry.

Empowering Fashion Brands with Informed Sourcing Decisions

Canopy, a leading environmental organization dedicated to protecting forests, publishes an annual Hot Button Report that serves as an essential guide for fashion brands and retailers seeking responsible sourcing partners. This comprehensive report assesses MMCF suppliers based on their commitment to sustainable forestry practices, transparency, and the development of next-generation fiber solutions.

Birla Cellulose: A Champion of Sustainable Practices

Commenting on Birla Cellulose's exceptional ranking, Mr. H.K. Agarwal, Managing Director, Grasim Industries Ltd., and Business Director Birla Cellulose, expressed his pride in the company's unwavering dedication to sustainability. He emphasized that this recognition serves as a testament to Birla Cellulose's continuous efforts to enhance sustainable wood sourcing practices, promote forest conservation, drive innovation, and ensure transparency across the entire value chain.

Contributing to Global Biodiversity Conservation

Birla Cellulose actively collaborates with global MMCF producers to support the Convention on Biological Diversity's ambitious goal of conserving at least 30% of terrestrial ecosystems by 2030. The company recognizes the critical role of forests in maintaining biodiversity and mitigating climate change.

Pioneering Circularity in the Fashion Industry

At the forefront of industry collaboration, Birla Cellulose works closely with brands, supply chain partners, and key stakeholders, including Canopy, Fashion for Good, and Circular Fashion Partnership, to drive the adoption of circularity principles within the fashion sector. The company is committed to reducing the environmental impact of the fashion industry by promoting resource efficiency, recycling, and the development of sustainable fiber alternatives.

Nicole Rycroft, Executive Director, Canopy, commended Birla Cellulose's unwavering commitment to sustainability, stating, "A hearty congratulations to Aditya Birla for securing the top spot in Canopy's 2023 Hot Button Report.

We commend their hard work to remove Ancient and Endangered Forests from the MMCF supply chain and are encouraged by their consistent progress to bring Next Gen fibres to market at scale."

Birla Cellulose's exceptional performance in Canopy's Hot Button Report 2023 serves as a beacon of hope for a more sustainable future within the fashion industry. The company's unwavering commitment to conserving ancient and endangered forests, promoting circularity, and developing next-generation fiber solutions sets a high standard for others to follow.

 Latest Textile Events

BirlaCellulose

ChromaTexChem 2023

15 December 2023, Mumbai

Expand your reach and tap into untapped potential.

Build lasting relationships with key players.

  • Uncover the latest trends and materials.
  • Navigate pricing and regulations with confidence.

    ChromaTexChem is more than just an event - it's a catalyst for success.

    From textiles and leather to food and electronics, colorants, specialty chemicals, and industry knowledge are the threads that weave value into diverse industries.

    Textiles take center stage, with dedicated spaces for knowledge sharing and forging connections.

    But ChromaTexChem's reach extends far beyond, offering a global platform unmatched in its scope and impact.

Latest Textile Events

TexChem

SIMA: Southern textile industry in crisis, urgent appeal for relief measures

In a virtual meeting, key associations representing spinning mills in Southern India, including SIMA, TASMA, SISPA, ISMA, RTF, RSF, APTMA, and TSTMA, discussed strategies to address the severe financial crisis plaguing the region's textile industry. The Southern States, comprising Tamil Nadu, Andhra Pradesh, and Telangana, which contribute to 55% of the nation's spinning capacity, have been grappling with an 18-month recession exacerbated by global economic slowdown, domestic market sluggishness, and import-related challenges.
The industry has witnessed a sharp decline in cotton yarn exports, plummeting by 56% from April to September 2023 compared to the previous fiscal year. Contributing to the woes are increased power costs, up to Rs.2.50 per unit, making Southern States less competitive globally. Unlike other states like Maharashtra and Gujarat, which offer substantial incentives, the Southern textile industry faces volatility in cotton prices, surplus production capacity, and reduced exports.
The ongoing Ukraine-Russia conflict, Israel-Hamas war, and issues related to Man-Made Fiber Quality Control Order have further strained the financial health of spinning mills nationwide, particularly in the South. Adding to the predicament is an abnormal surge in imports, with a notable increase in cotton and viscose fiber, cotton and polyester yarn, polyester fabrics, garments, and made-ups from China, Bangladesh, Vietnam, and Sri Lanka.
In response, Dr. S. K. Sundararaman, Chairman of SIMA, issued a press release outlining urgent appeals. These include requests to the Chief Ministers of Tamil Nadu, Andhra Pradesh, and Telangana to roll back recent power tariff hikes for a year, and to the Prime Minister for a one-year moratorium on loan repayments, conversion of ECLGS loans, financial assistance for working capital, removal of the 11% cotton import duty, and addressing QCO-related issues.
The associations also urged all state governments to suspend incentives for spinning capacity expansion until oversupply issues are resolved. To emphasize their plight, they proposed a one-week production stoppage and advised a 35% reduction in production across the spinning sector. The crisis, if unaddressed, could lead to the closure of large-scale spinning mills in the region.

SIMA: Southern textile industry in crisis, urgent appeal for relief measures

TEXCON : 14 December 2023

28 November 2023, Mumbai

TEXCON 2023: India's Path to Global Textile Manufacturing Leadership

The global textile and apparel industry is undergoing a dynamic transformation, with buyers seeking closer collaboration, consolidating sourcing, and prioritizing capabilities, scale, sustainability, and cost-efficiency.

India is poised to seize this opportunity and emerge as a global textile manufacturing hub. The upcoming 15th edition of TEXCON, themed "Making India a Global Textile Manufacturing Hub: A Paradigm Shift," will address this transformative landscape and chart India's path to leadership.

TEXCON, organized by the Confederation of Indian Industry (CII), will convene industry leaders, researchers, and policymakers to explore strategies for fostering growth and development in the textiles sector. The conference will showcase India's potential as a global hub by highlighting cutting-edge technologies and strategies.

Join TEXCON 2023 and witness India's emergence as a global textile manufacturing powerhouse.

Latest Textile Events

CII

RSWM Acquires Ginni Filaments' Units

05 December 2023, Mumbai

RSWM Expands Empire, Eyes Leadership in Spinning and Knitting

LNJ Bhilwara Group's subsidiary, RSWM Ltd., has a major acquisition in its sights! With a binding term sheet signed, they're set to acquire Ginni Filaments' spinning, knitting, and processing units in Mathura for Rs 160 crore. Expect the deal to close within 90 days, pending approvals.

RSWM's Big Boost:

  • Turnover, workforce, and capacity are set to soar.
  • position to become the leader in spinning and knitting fabrics.

Tech Upgrade on the Horizon:

  • State-of-the-art technology like compact ring frames and advanced carding and combing machines is incoming.
  • Power infrastructure gets a much-needed overhaul.
  • Recoveries, productivity, and premium product variety are all set to gain.

Thinking Beyond Borders:

  • Expansion beyond Rajasthan promises a turnover surge.
  • Global customers are the next big target.
  • RSWM's industry dominance is about to solidify.

Eco-friendly and efficient operations are a key priority.

Latest Textile Events

RSWM

International Conference to Address Sustainability and Circularity Challenges in the Textile Value Chain

International Conference on “Sustainability and Circularity – The New Challenges for the Textile Value Chain.”
The conference will be held on Wednesday, January 31, 2024, at The Lalit Mumbai hotel in Mumbai, India.
The textile industry is one of the largest and most important industries in the world, but it also faces a number of challenges, including sustainability and circularity.
This conference will bring together experts from around the world to discuss the latest trends and developments in sustainable and circular textile production.
The conference will also feature keynote speeches from leading industry figures, as well as panel discussions and networking opportunities.
The Textile Association (India), Mumbai Unit, is a leading textile industry organization with over 4,000 members. The association is committed to promoting sustainable and circular practices in the textile industry.

International Conference to Address Sustainability and Circularity Challenges in the Textile Value Chain

A bright future beckons

05 December 2023, Mumbai

WHY India

Are we in for better days?

Exports surge as Western demand heats up

Christmas cheer is spreading to India’s textile industry, with exports booming thanks to increased demand from Western markets. After a year of decline, the sector is finally bouncing back, clearing excess stock and weaving a brighter future.

Numbers tell the story: 3.7% growth in September

The Index of Industrial Production (IIP) reveals textile exports are growing for the third month in a row, with a 3.7% jump in September compared to last year. This upward trend fuels optimism, with Sanjay Jain, head of the National Expert Committee at the Indian Chamber of Commerce, predicting a strong recovery. He expects India’s textile exports to soar by 8–10% in the fiscal year 2024.

Cotton, fabric, yarn — all on the rise

The Ministry of Commerce and Industry confirms the good news, reporting a significant 5.7% increase in exports of cotton, fabric, yarn, and handloom products between April and October, compared to the previous April-August period. It’s a welcome change after lagging pre-pandemic levels.

The pre-COVID gap remains, but optimism prevails

Despite the positive momentum, India’s textile sector still trails its pre-COVID production levels. Data from the Ministry of Statistics and Program Implementation (MOSPI) reveals a 6.5% gap compared to the 2019–20 period. Sunil Kumar Sinha, Chief Economist at Ind-Ra, underlines the crucial role of global trade factors in shaping India’s long-term textile prospects.

Brighspot: Aspirational journey

With Christmas orders filling pockets and optimism high, India’s textile industry seems poised for a festive season of growth. 

The road ahead may hold challenges, but the threads of resilience and adaptability are woven into the fabric of this crucial sector.

 Latest Textile Events

T&A

Indo Count Q2 FY24 results

As per latest LiveMint Report l
With its Q2FY24 performance, Indocount Industries has reached a historic landmark, surpassing the ₹1,000 crore revenue mark for the first time ever.
The company achieved a record-breaking quarterly revenue of ₹1,033 crore, thanks to a substantial rise in volumes.
This shows a remarkable 22% year-on-year growth, in contrast to the ₹849 crore revenue registered in the same quarter of the previous year.

 

Indo Count Q2 FY24 results

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