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Bettering Lives and Crops: Better Cotton Expands in Côte d'Ivoire

Better Cotton, a global leader in sustainable cotton farming, is expanding its reach to Côte d'Ivoire, aiming to support 200,000 local farmers over the next five years.
Partnering with the Professional Association of Cotton Companies of Côte d'Ivoire (APROCOT-CI), Better Cotton will provide training and resources to enhance sustainable farming practices and improve the environmental resilience and economic prospects of farming communities.
Six APROCOT-CI member organizations will serve as Better Cotton Programme Partners, contributing expertise and resources to drive social and environmental advancements in cotton cultivation.
This initiative aims to integrate sustainable practices, reduce environmental impact, and enhance the economic well-being of smallholder cotton farmers in the region.

Bettering Lives and Crops: Better Cotton Expands in Côte d'Ivoire

Grasim Industries Q2 FY24 results

14 November 2023, Mumbai

As per latest ETRetail report l
Grasim Industries, reported a robust quarter, with consolidated net profit rising 15% to Rs 1,164 crore in the Q2 FY24. This was greater than the Rs 1,009 crore V/s corresponding period of the yester year.
Operational leverage
The company’s revenue from operations also increased by 10% to Rs 30,221 crore in the reporting quarter, compared to Rs 27,486 crore in the year-ago quarter.
The growth enablers were solid performance across all segments, with cement, viscose staple fibre, and financial services businesses all reporting healthy growth.
Grasim Industries is in a good place for durable growth in the following quarters. The company has a solid order book for cement and is expanding its viscose staple fibre capacity. The financial services business is also anticipated to gain from the favourable economic environment.

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Sustainability is paramount

07 November 2023, Mumbai

Unassuming Cotton Plant Emerges as a Battery Powerhouse
Sustainable Alternative to Traditional Graphite Anodes
PJP Eye, a Japanese firm, revolutionizes battery technology with a sustainable anode made from burnt cotton.
Impressive Performance and Environmentally Friendly
Cotton-based batteries charge up to 10 times faster than lithium-ion batteries and minimize environmental impact.
Leveraging Abundant Resources for a Sustainable Future
Cotton-based batteries utilize an abundant byproduct of the textile industry, paving the way for fully sustainable energy storage solutions.
From Textile Staple to Battery Powerhouse
The transformation of cotton into a battery component highlights human ingenuity and paves the way for a more sustainable future.

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Andhra Pradesh textile industry in crisis: APTMA urges government intervention

02 November 2023, Mumbai

The Andhra Pradesh Textile Mills Association (APTMA) is sounding the alarm over the dire state of the state's textile industry. A confluence of issues, from soaring cotton prices and plummeting yarn values to rising power costs and post-COVID market turbulence, has left the industry's financial health and operational stability hanging by a thread.
Challenges galore

Adding to the industry's woes are withheld subsidies, peak-hour power cuts, and the recent imposition of electricity duty, true-up charges, and FPCCI fees. As a result, numerous mills are grappling with financial obligations, with six already shuttered, endangering the livelihoods of thousands of direct and indirect workers.

Appeal
In a plea to the Andhra Pradesh government, APTMA urgently requests the release of pending power incentives, subsidies, and a Rs 2 per unit electricity subsidy akin to Telangana. They also seek relief from recent electricity-related charges and call for incentives to transition to sustainable energy sources.
The textile industry is a linchpin of the state's economy, and immediate government intervention is crucial to ensure its survival and safeguard countless jobs. Neglecting this crisis could spell disaster for both the industry and the state's economic prospects.

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A Global Platform for Textile Innovation and Collaboration

11 November 2023, Mumbai

Asia's Textile Industry Convenes in Shanghai
The 9th edition of ITMA ASIA + CITME, Asia's leading textile machinery exhibition, is scheduled for October 14-18, 2024, at Shanghai's National Exhibition and Convention Centre.
This marquee event, a collaboration between CEMATEX, the China Textile Machinery Association, and the Japan Textile Machinery Association, combines ITMA's global expertise with CITME's deep industry knowledge.
Outlines
ITMA ASIA + CITME 2024 serves as a premier business platform for Asian textile machinery manufacturers, showcasing their latest innovations to a global audience seeking cutting-edge solutions.
The exhibition will feature a comprehensive range of machinery, from fiber preparation to finishing, catering to the entire textile industry value chain.

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A Global Platform for Textile Innovation and Collaboration

Indian Govt Sets MSP for Cotton, Ginning Mills on Strike

31 October 2023, Mumbai

The Indian government has set the minimum support price (MSP) for long-staple cotton at Rs 7,020 per quintal and for medium-staple cotton at Rs 6,620 per quintal. However, ginning mills in Punjab have gone on an indefinite strike, protesting against the state government's notices for the recovery of pending tax liabilities related to a 1% cess on agricultural produce during the years 2010 to 2014.
Vietnam, the world's sixth-largest fibre exporter and third-largest exporter of textiles and garments, is also threatening the global supply of cotton due to unusually dry weather. This raises the specter of prolonged food price inflation.

Outlines
Meanwhile, Cottoncandy experienced a decline of -0.54% to settle at Rs 58,700 due to profit booking, following a rise triggered by the USDA's October WASDE report.
North Zone:
Cotton traded on an easy tone across major spot markets in north India on Tuesday. Prices were quoted up Rs 40–50 per maund compared to yesterday evening. New crop cotton traded at ready delivery at Rs 5,650–725 per maund in Punjab, Rs 5,625–5,675 per maund in Haryana, and Rs 5,475–5,650 per maund in Upper Rajasthan.
Central Zone:
Cotton spot prices were also easy across west India markets on Tuesday. Sankar-6, new crop 29 mm (RD-75 & MIC-3.8), traded at Rs 57,500–58,000 per candy in Gujarat and Rs 57,000–57,500 per candy for 28.5mm (RD-74). V-797 traded at Rs 46,500-47,000 per candy (12–15% trash condition) for ready delivery. In Maharashtra, new crop good grade cotton (29mm) was quoted at Rs 57,500–58,000 per candy.
South Zone:
Cotton spot prices were easy across the major trading centers of south India.
Overall, the cotton market is witnessing a subdued tone due to various factors, including the ginning mill strike in Punjab, the threat to global supply from Vietnam, and profit booking in Cottoncandy.
CREDITS: Cotton Market Bulletin

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Maharashtra ambitious Textiles Policy to attract meaningful investments

11 November 2023, Mumbai

The launch of ‘Textiles Policy 2023–28' marks a significant milestone in Maharashtra's progressive journey, with an ambitious goal of attracting global investments worth Rs 25,000 crore and creating jobs for over 5 lakh people, particularly women. India is currently among the top five global exporters across categories, including natural fibers, MMF, spun yarn, filament yarn, woven fabric, and home textiles.

Nuanced picture
Both the central and state governments have launched progressive, industry-specific schemes that showcase India's technological advancements and commitment to sustainability.
Various schemes and incentives have been introduced to promote the sector, including the Amended Technology Upgradation Fund Scheme (ATUFS), the Production-Linked Incentive (PLI) Scheme for man-made fibers and technical textiles, the National Technical Textile Mission, and the PM MITRA scheme.
These initiatives have not only provided financial assistance but also encouraged investments in modern technology and infrastructure, thereby improving overall competitiveness.

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TextileSector

Guangdong Takes Center Stage at Intertextile Shenzhen

04 November 2023, Mumbai

Guangdong, a cornerstone of China's textile manufacturing sector, particularly Shenzhen, is gearing up to take center stage at the Intertextile Shenzhen Apparel Fabrics event, which is set to be held from November 6 to 8, 2023.

Background
This annual event has a rich history of bringing together various players from the apparel value chain, ranging from wholesale markets, fabric producers, clothing processing plants, and fashion enterprises, such as Shenzhen's renowned Dalang Fashion Town.
This year, the organizers anticipate a substantial turnout of exhibitors and visitors from China and beyond.

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Surat Start-up Summit – 2023

30 October 2023, Mumbai

A Platform for Innovation and Entrepreneurship
The Southern Gujarat Chamber of Commerce and Industry (SGCCI) hosted the Surat Start-Up Summit 2023 from October 27th to 29th at the Surat International Exhibition and Convention Centre.

Outlines
The three-day event aimed to strengthen the start-up ecosystem in Surat and inspire entrepreneurs.
Over 55 start-ups from Surat, Ahmedabad, and Vadodara will showcase their creative ideas at the summit. The event also featured a roadshow for the Gujarat Vibrant Start-up Summit, scheduled for December 2023.

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2nd Technical Textiles Conference: Coimbatore on Nov 17th- 18th, 2023

08 November 2023, Mumbai

Joint initiative of CII, Tamil Nadu Govt., and Ministry of Textiles
A technical textiles conference will be held in Coimbatore on November 17–18, 2023, as a joint initiative of the Confederation of Indian Industry (CII), the Department of Textiles, the Government of Tamil Nadu, and the Ministry of Textiles.

The event will showcase the potential and opportunities of technical textiles in the state, which is a global leader in the textile sector.
Tamil Nadu accounts for half of India's textile mills
Tamil Nadu accounts for half of India's textile mills and has a strong presence in various segments of the textile value chain, such as knitting, weaving, spinning, and dyeing.
Session with Textile Commissioner
As a prelude to the conference, CII and the Tirupur Exporters' Association (TEA) organized a session with M. Vallalar IAS, Commissioner of the Department of Textiles, Government of Tamil Nadu, as the chief guest.

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