11 January 2024, Mumbai

Facing a dip in traditional markets, India's textile industry charts a new course, aiming to reach a $100 billion export target by 2030. With Europe and US demand waning, the Textile Secretary, Rachana Shah, reveals a strategic shift towards untapped potential in Asia and beyond.

New Destinations, New FTAs: Australia and the UAE stand as immediate priorities with ongoing FTA negotiations. Japan and Korea, already established players, are targeted for increased trade. Meanwhile, talks with the UK and West Asian nations further broaden the export landscape.

Challenges and Solutions: Shah acknowledges hurdles like competitiveness, logistics, and fragmented value chains. To counter these, she advocates for expanding existing schemes like PM Mitra and Production-Linked Incentives (PLI).

PM Mitra's Boost: Under this scheme, Rs 500 crore will be invested in a textile park, with another Rs 300 crore aimed at attracting the targeted Rs 70,000 crore in overall investment.

PLI's Potential: This scheme hopes to lure Rs 19,000 crore in new investments over five years, aiming for a cumulative turnover of Rs 3 lakh crore and creating 7.5 lakh jobs.

By diversifying its export portfolio, expanding infrastructure, and incentivizing investments, India's textile industry is embracing a dynamic approach to navigate the changing global landscape.

The success of these initiatives will determine whether India stitches together a thriving future for its textile exports in the East and beyond.

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20 December 2023, Mumbai

Lenzing Group, a global leader in wood-based specialty fibers, recently orchestrated 'The Lenzing Conclave' in Ahmedabad, a renowned textile hub.

Emphasizing Lenzing's enduring commitment to innovation and responsible manufacturing, the event provided a pivotal platform for industry stakeholders to discuss sustainable textile advancements and future opportunities.

Outlines

The conclave spotlighted Lenzing's latest innovations under TENCEL and LENZING ECOVERO fiber brands, with a particular focus on products blending TENCEL fibers and cotton tailored for the Indian market.

Ahmedabad's fabric mills and traders, stalwart consumers of Lenzing fibers, have significantly influenced end fabrics in fashion, denim, home textiles, and intimate wear, gaining traction both domestically and in export markets.

Demonstrability

The exhibition showcased Lenzing's cutting-edge developments across major segments, offering a hands-on experience for participants to explore the versatility and quality of Lenzing fibers. Avinash Mane, Senior Commercial Director of AMEA & NEA region, Textiles Business, Lenzing Group, hailed the conclave's success in fostering collaboration, innovation, and sustainable practices.

The event affirmed Lenzing's role as a trusted partner in Ahmedabad's textile industry, contributing to the creation of high-quality, sustainable fabrics for global markets.

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Dharki, a luxury handloom textile brand hailing from Varanasi, has expanded its retail presence to Mumbai's renowned store, Mélange. The brainchild of designer Brijesh Gupta, Dharki seamlessly integrates tradition with a contemporary design philosophy. Collaborating with skilled artisans from West Bengal and Madhya Pradesh, the brand specializes in crafting a diverse range of saris, adhanas, and dupattas.

The latest collection from Dharki introduces patterns and textures through traditional jacquard weaving techniques, marking a departure from conventional designs, as highlighted by Gupta. The brand's ethos revolves around striking a harmonious balance between heritage and innovation.

Spearheaded by Sangita Sinh Kathiwada, the owner of Mélange, the decision to retail Dharki's creations from the iconic Mumbai store is aimed at broadening the brand's reach. The store itself has undergone a revamp to align with Dharki's identity, featuring interiors inspired by the architectural splendor of central Indian havelis. The color palette, comprising taupe, Indian rose, and chalk, enhances the overall aesthetic appeal.

Gupta emphasizes presenting traditional designs requires a delicate equilibrium between preserving heritage and embracing innovation. He suggests that brands can infuse a bold, modern edge into their designs by enlarging or abstracting traditional elements. Additionally, employing a muted or unconventional color palette can contemporize designs, rendering them more relevant to current trends and tastes.

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.

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13 December 2023, Mumbai

Lower yarn demand, high cotton costs, and depressed prices pummel profits for major cotton spinning firms.

CRISIL Ratings predicts a 13–15% revenue drop and a 250–300 basis point profit decline, with margins at record lows.

Despite the gloom, CRISIL maintains their financial stability.

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22 December 2023, Mumbai

In a decisive move, the state government has established a committee, led by Public Works Minister Dada Bhuse, to delve into the challenges plaguing the power loom industry.
The study group, featuring MLAs Rais Shaikh, Anil Babar, Pravin Datke, Subhash Deshmukh, and Prakash Awade, is tasked with scrutinizing power loom centers in key areas like Bhiwandi, Malegaon, and Ichalkaranji, with a report due in a month.

Nuances
The initiative comes on the heels of legislator Rais Shaikh's impassioned plea in the Legislative Assembly, addressing the industry's struggles.
State Textile Minister Chandrakant Patil promptly responded by announcing the formation of the study group. Shaikh, hailing the swift government action, expressed optimism about justice for the power loom sector.
Encouraging stakeholders to voice their concerns, Shaikh anticipates a transformative impact as the committee plans to compile a comprehensive report on issues and propose measures to fortify the power loom industry statewide.

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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.

22 December 2023, Mumbai

WHY India

Opening with a bang:

1. Texcon '23 wasn't just a conference; it was a clarion call. Under the banner "Transforming India into a Global Textile Hub," industry leaders, from the Confederation of Indian Industry to Bollywood icon Pankaj Tripathi, united to declare a pivotal moment for the nation's textile sector.

   Highlighting the urgency:

   Cooperation, innovation, and a dash of government support—these were the ingredients deemed essential to overcome challenges and unleash the industry's potential. Sustainability, championed through initiatives like blockchain-powered Kasturi Cotton, was positioned as the catalyst for this growth.

   Ambition takes center stage:

   $250 billion by 2030—that's the staggering sales target India set for its textile industry, with $100 billion earmarked for exports. An "India-first" approach resonated throughout the event, urging stakeholders to embrace collaboration and tap into the sector's immense manufacturing prowess.

   Addressing the roadblocks:

   Headwinds like export dips in the first half of the year were acknowledged, but October's positive growth offered a glimmer of hope. Experts like Sivaramakrishnan Ganapathi and Kulin Lalbhai pointed to gaps in synthetic fiber production and value chain deficiencies as areas demanding immediate attention.

   Hope amidst the challenges:

   The "China-plus-one" strategy, with its potential influx of global brands seeking alternative production hubs, fueled optimism among industry insiders. Comparisons with other Asian manufacturing destinations, coupled with India's strengths like stable governance and strong raw material base, further bolstered confidence.

   Conclude with a call to action.

   Texcon '23 wasn't just a conference; it was a roadmap. A roadmap for revolutionizing India's textile landscape and for weaving a future where "Made in India" becomes synonymous with quality, innovation, and global leadership. Now, it's time to roll up our sleeves and turn our aspirations into reality.

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15 December 2023, Mumbai

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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.