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

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.

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.

Latest Textile Events

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

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.

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.

Latest Textile Events

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

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.

Latest Textile Events

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.

Latest Textile Events

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.

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.

Latest Textile Events