14 April 2022, Mumbai:

Fourteen promoters and directors of textiles major S Kumars Nationwide have been booked for an alleged bank fraud worth Rs 1,245 by the CBI.

The Central investigation agency conducted a search in 13 of the company’s locations in Maharashtra, Gujarat, and West Bengal and recovered incriminating documents from there.

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As per these documents, the manufacturer of high-value cotton fabrics and home textiles had availed credit from a consortium of banks led by the IDBI bank.

The promoters and directors of the company have been booked for misusing the bank’s funds from 2012 to 2018, causing a Rs 1,245.15 crore loss to the banks.

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The complaint was filed by the IDBI Bank on behalf of four other member banks of the consortium, namely, Central Bank of India, Jammu & Kashmir Bank, PNB, and Indian Bank, as per RC Joshi, a CBI spokesperson.

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13 April 2022, Mumbai:

Ongoing political crisis in Europe, Sri Lanka, and Pakistan are influencing the global cotton and textiles sector, manufacturing, and global economy. 

The rise in prices, inflation, and political crisis in some parts of the world are having a direct effect on the recent Presidential election in France.

Worries about the increase in energy cost due to the probable embargo on Russian gas and oil by EU countries are genuine among consumers while making buying decisions on non-essential items.

ALSO READ Seshadri Ramkumar: Ukraine Crisis Impact on 'Cotton & Textiles'

Ripple effects from COVID-19 are seen in different sections of the society, which is more evident in Sri Lanka.

With the decrease in foreign tourism, the economy of Sri Lanka has taken a severe hit, which has been in decline due to mismanagement for over a decade and due to heavy foreign debts.

In addition to economic fallouts, the political crisis in Pakistan and Europe due to the Russian invasion of Ukraine is adding to the pain as well.

All these instabilities are showing their impacts on the global cotton and textile sectors.

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This is immediately felt in a major textile-producing country, say India. The economic and political crisis in some parts of the world should result in favorable conditions for textile manufacturing in India, but this is not the case.

The steady increase in cotton price is creating havoc in the Indian textiles sector resulting in decreased production and reducing workweek by a day in textile mills in India.

Sri Lanka is a leading garment producer supplying global brands.

Lack of power and the ongoing political crisis are affecting many sectors of the country. “While orders from Sri Lanka are getting diverted to Tiruppur in India, steep cotton price in India is not helping the situation,” stated Mr. Velmurugan Shanmugam, a 30-year industry veteran, and the general manager of Aruppukkottai-based Jayalakshmi Textiles.

In many mills, production has been slashed by 20 percent resulting in losses. Higher cotton prices are not absorbed by upstream products like yarns. “Weavers are not willing to pay higher prices,” added Velmurugan Shanmugam.

Cotton prices have doubled in a year and the present situation is worse than in 2011 when the cotton price was steep. Textile mills in India are demanding the Indian government slash the 11% import duty on cotton, which will create a level playing field with competing countries like Bangladesh, Vietnam, and Indonesia.

Cautious stock maintenance, negotiating with the government for adequate support, efficient workflow management, and watching the global situations carefully are a few near-term solutions for the global textiles sector.

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CREDITS: By- Seshadri Ramkumar, Professor, Texas Tech University, USA

09 April 2022, Mumbai:

The Indian government has launched certain initiatives to boost textile exports on a pan-India basis and make the textile sector globally competitive.

As per an SME Times report, the government has approved the PM Mega Integrated Textiles Region and Apparel Parks (PM MITRA) scheme for setting up of seven PM MITRA Parks in Greenfield/Brownfield sites with an outlay of Rs. 4,445 crore for a period of seven years up to 2027-28.

The Scheme would help create a modern, integrated large-scale, world-class industrial infrastructure including plug-and-play facilities.

ALSO READ Ind-Ra: High input costs to impact textile demand in Q1FY23

These parks will enable the textile industry to become globally competitive, attract large investments and boost employment generation.

The government has also continued the scheme of Rebate of State and central Taxes and Levies (RoSCTL) effective from March 2019 till 31st March 2024 for exports of apparel/garments and made-ups in order to make the textile sector competitive in the international market.

Besides, the government has approved the Production Linked Incentive (PLI) Scheme for Textiles, with an approved outlay of Rs 10,683 crore, to promote the production of Man-Made Fiber (MMF) Apparel, MMF Fabrics, and Products of Technical Textiles in the country to enable Textile sector to achieve size and scale and to become competitive.

RELATED NEWS Darshana Jardosh: PM MITRA proposals under evaluation

To boost exports in the Man-Made Fibre (MMF) sector, the Government has removed anti-dumping duty on PTA (Purified Terephthalic Acid), Viscose Staple Fibre, and Acrylics.

Nearly 58.4 percent of cloth produced in the country, is sourced from the power loom sector. Similarly, over 60 percent of the fabrics exported from the country are also from the power loom sector, as per an SME Times report.

The power loom sector is also a major provider of fabrics to the readymade garments and home textile sectors.

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CREDITS: SME Times report.

14 April 2022, Mumbai:

The Indian Chamber of Commerce (ICC) is organizing a Pavilion at the Global Textile Trade fair,9-11 June, Atlanta, USA.

The US and India are the top major contributors to the textile and clothing trade across the world. For apparel, the US is one of the top importing countries across the world and India is among the top five exporting countries.

The US accounted for 35 percent of India's textile exports in the year 2020.

ALSO READ NAEC bets on the 22nd Global Textile Trade Fair, US

Apparel and home textiles together accounted for more than 90 percent of the total textile and clothing exports with a share of 52.7 and 40.8 percent respectively.

The focus will be only on the Indian market as the buyers will come with the mindset of buying from Indian Industries. No competition with other countries' suppliers as only Indian suppliers will participate.

RELATED NEWS The Indian textile industry's trade associations applaud the RoDTEP rates

Exhibitor Profile

Manufactures and Exporters of Fabrics, Yarn, Khadi, Home Textile, Apparels and Garments, Handicraft and Handloom, Ethnic Wear

Visitor Profile

Textile importers from the countries of the American continent, US government dignitaries, Indian embassy (trade department, commerce department) Importers, and textile association, Hoteliers, Apparel Brands & Labels, Overseas Industry Associations & Trade Delegations Indian Community Leaders living in the USA, Retail Stores owner of Georgia & Connected States, Well-known fashion Designers of USA.

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

12 April 2022, Mumbai:

The silk expert, who is visiting India to promote bilateral cooperation between India and France around design and textile with an emphasis on silk, discussed Murshidabad's silk heritage.

Celebrated French textile artist Isabelle Moulin said till now Indian silk was only catering as a fabric for the people and not much export was done.

ALSO READ The Ministry of Textiles and famous designers collaborate to make India the world's fashion capital

Moulin on a ‘Silk Trip’ to India to explore the potential of weavers in places like Murshidabad to be able to partner with major global silk hubs, Murshidabad said Murshidabad could play a role. big role as a changer.

“Till now Indian silk was only catering as a fabric for the Indian people and not much export was done.

RELATED NEWS Modi: The world is looking at India as a manufacturing powerhouse

Now with the open market, I am sure India will catch up as far as the use of silk is concerned in various sectors.

With the evolution of products and climate change, we aim to find new ways to produce silk, and protect the mulberry falling prey to climate change,” she told PTI after a visit to Murshidabad recently.

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CREDITS: Indian Express The Print News of Max (The news article has not been edited by DFU Publications staff).

09 April 2022, Mumbai:

Higher raw material cost is likely to impact textile demand during Q1FY23 on a quarter-on-quarter basis.

As per India Ratings and Research (Ind-Ra), sustained rub-off impact from high man-made fibre (MMF) prices amid new arrivals will keep domestic cotton prices to remain at the current high levels during Q1FY23.

ALSO READ TIRUPPUR TRADERS EXPECT COTTON YARN PRICES TO RISE POST FESTIVE SEASON

ShradhaSaraogi, Senior Analyst, India Ratings and Research, says,Ind-Ra also expects inventory levels to decline by the end of the current cotton season due to a lower opening stock and slightly higher consumption.

Similarly, the domestic stocks-to-use ratio could decline in the new cotton season.

Furthermore, Ind-Ra expects cotton yarn and spun yarn prices to continue to rise due to higher demand from downstream players as well as export markets.

RELATED NEWS Space Rocketing Cotton and Cotton Yarn prices – Representations pending for Government action

According to the rating agency, MMF products witnessed a drastic rise in prices in February 2022 due to an increase in crude oil prices.

Ind-Ra expects the prices to increase further owing to the US ban on Russian oil and US tie-ups in Europe, along with a rise in raw material prices, led by the ongoing geopolitical issues and increased cotton prices.

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12 April 2022, Mumbai:

Kesoram Industries Limited is one of the pioneer companies in India.

It is under the flagship 'B K Birla Group Of Companies'.

ALSO READ Vardhman Textiles: Q3 FY22 reported reported

Kesoram Industries declined 1.31% to Rs 60.30 after the company reported a consolidated net loss of 46.67 crores in Q4 FY22 as against a net profit of Rs 112.26 crore in Q4 FY21.

Revenue of operation grew 19.7% to Rs 1,031.78 crore in Q4 FY22 as compared to Rs 861.56 reported in the same period last year.

RELATED NEWS Raymond’s Q3 FY'22 results reported

The cement manufacturer reported a pre-tax loss of Rs 66.40 crore in Q4 FY22 versus Rs 168.4 crore in Q4 FY21. Consolidated operating margin declined to 9.48% in Q4 FY22 as against 13.37% in Q4 FY21. Margin pressure was seen as total expenses surged 31.35% YoY to Rs 1,085.84 crore. The company reported a consolidated net loss of 75.04 crore in FY22 as against a net profit of Rs 150.29 crore in FY21.

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CREDITS: Business Standard Money Control ET Equity Bulls (The news article has not been edited by DFU Publications staff)

08 April 2022, Mumbai:

Texprocess Messefrankfurt

Leading international trade fair for processing textile and flexible materials.

At Texprocess, international exhibitors will present the latest machines, plants, processes and services for the manufacture of garments and textile and flexible materials in Frankfurt am Main from 21 to 24 June 2022.

Techtextil, the leading international trade fair for technical textiles and nonwovens and this year, once only, the Heimtextil Summer Special, international trade fair for home and contract textiles, takes place at the same time as Texprocess.

ALSO READ Techtextil / Texprocess / Heimtextil S/S'22 Press Conference

Why Texprocess is exactly the right place for you

Complete textile process chain: Here, you can find all the technologies involved, from design, cutting, sewing, knitting, and embroidery to finishing, refining, IT and logistics.

Creativity and high-tech: The technologies for processing textiles at Texprocess inspire new designs.

RELATED NEWS Techtextil North America and Texprocess to be held in Atlanta, Georgia May 17-19, 2022

Texprocess – Digital Extension

On-site in Frankfurt and in the digital space: Texprocess 2022 will be complemented by the Texprocess – Digital Extension.

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

13 April 2022, Mumbai:

Vice President calls for improving cotton yield and productivity and stresses the priority of farmer incomes.

Upskill textile workers, handhold small businesses, and improve global competitiveness says VP.

VP recalls the role of Indian textiles in the freedom struggle; ‘Cotton has a great symbolic value to our civilizational heritage.

Shri Naidu calls for a renewed Technology Mission on Cotton.

ALSO READ CITI-CDRA Golden Jubilee Celebrations

The Vice President, M. Venkaiah Naidu today called upon all stakeholders to make concerted efforts to improve cotton yield and productivity in India to enhance farmers’ incomes.

Expressing his concern over the low yield of Indian cotton compared to other major cotton growers in the world, Shri Naidu said that steps must be taken to guide the farmers through better research and by adopting best practices.

The Vice President was inaugurating the CITI-CDRA Golden Jubilee Celebrations from Vigyan Bhawan, New Delhi today.

RELATED NEWS CITI’s Manmade Fibre Conclave'22: Virtual platform, 9th Mar

Confederation of Indian Textile Industry (CITI) is a leading industry chamber of the textile sector in India and the Cotton Development and Research Association (CDRA) is the extension arm of CITI, undertaking various seed development and extension activities in the cotton sector.

Naidu expressed his concern that despite being the largest cotton producer (23%) in the world and having the highest area under cotton cultivation (39% of world area), the yield per hectare in India remained at a low of 460 kg lint per hectare when compared to the world average of 800 kg lint per hectare.

To address this, he called for improving the planting density, taking up mechanization of the cotton harvest, and giving a thrust to agronomy research.

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

11 April 2022, Mumbai:

DENIMANDJEANS TO HOLD 4TH EDITION IN BENGALURU.

Denimsandjeans will hold its fourth India edition in Bengaluru on June 8-9, 2022.

The theme of the show will be ‘Greenable, a combination of Green and Comfortable.

In response to COVID, many global brands have incorporated green inputs into their products and have been raising the bar for sustainable production in their supply chain.

ALSO READ Denim fabric exports from India have surpassed pre-pandemic levels

Indian brands have also become much more conscious about the need to monitor and regularise the inputs going into their products from the supply chain.

Work from home (WFH) has been another factor that has created lifestyle changes among the consumers leading them into sedentary situations for long periods.

This change in lifestyle is also reflected in consumer purchases making them search for more comfort in the apparel.

RELATED NEWS Denim's domestic downturn is mitigated by strong exports

This necessitated changes in fibre, weaving, sewing, and washing levels to reduce the wear stress on the body.

Major corporates joining the show include including Arvind, Bhaskar, LNJ, Ginni, Hyosung, Nandan, Jeanologia (Spain), Global Wash House, VAV, KG Denim, Spectrum, Lenzing, Oswal Denim, Jindal, Raymonds, SF Dyes, Blu Connection, Siyaram, Anubha, WEKO (Germany), Ultra, Deridesen(Turkey), Nandan, Kemin, Fashion Accessories, Ramsons, Suryalakshmi, Fibro Organic, Lion Fabrics, Officina, Texenzyme, Synergies Bangladesh, Lycra, Vinod Denim, etc

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08 April 2022, Mumbai:

Spotlight on the Montex stenter at ITM.

ITM 22 international textile machinery show which is taking place from June 14-18 at the Tüyap Fair and Congress Centre in Istanbul, after a three-year break.

READ MORE Texhibition Istanbul Fabric and Textile Accessories Fair, March 16-18

“We will be emphasising the robustness and versatility of the Montex stenter for essential processes such as drying, stretching, heat-setting, and coating at the Istanbul show,” said Monforts Area Sales Manager Thomas Päffgen.

RELATED NEWS Istanbul Fashion Connection launched successfully

“The Montex has become the industry standard for the fabric finishing industry, providing a number of advantages in terms of production throughput and especially in energy efficiency and savings.”

With the latest Montex stenters, overall energy savings of up to 40% can now be achieved compared to a conventional stenter with no heat recovery or energy optimisation measures like high-quality chamber insulation.

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