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Textile 28-10-2023

EPCH: IHGF Delhi fair to hold 57th edition in February 2024

28 October 2023, Mumbai

The IHGF Delhi Fair is Asia's largest handicrafts event, organized by the Export Promotion Council for Handicrafts (EPCH). The 57th edition of the fair will be held on February 10, 2024, at the India Expo Centre & Mart. The fair features a wide range of handicrafts from Indian artisans and manufacturers, including carpets, home décor, furniture, jewelry, and fashion accessories.
Spotlight

The IHGF Delhi Fair is a must-visit for anyone interested in sourcing high-quality Indian handicrafts. It is also a great opportunity for consumers to shop for unique and authentic handicrafts at competitive prices.
Impact on businesses and consumers:
The IHGF Delhi Fair plays a vital role in promoting the Indian handicraft industry and connecting artisans and manufacturers with global buyers. The fair also helps to promote Indian culture and heritage on a global stage.

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Textile 28-10-2023

IGMACH India, 2024

26 October 2023, Mumbai

1st International Garment Machinery, Textile & Accessories Exhibition
February 21-24, 2024
Gandhinagar, Gujarat
Organizers:
K AND D
OPULENT ODYSSEY

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Textile 26-10-2023

Indian Textiles to take global center stage

23 October 2023, Mumbai

India is set to host the world's largest textile fair in Delhi in February 2024, a landmark event that will showcase the country's rich textile heritage and its growing position as a global leader in the industry.

Outlines
The fair will bring together over 1,000 exhibitors from around the world, showcasing a wide range of textile products, from traditional handicrafts to the latest innovations in fabric technology.

Visitors will have the opportunity to explore the entire textile value chain, from raw materials to finished products.

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Textile 23-10-2023

Indian textile exports to grow in FY24

19 October 2023, Mumbai

According to a report by Crisil Research, Indian textile exports are expected to grow by 10% in the financial year 2024.
This is driven by strong demand from the US and European markets.

The report also predicts that the Indian textile sector will have a CAGR of 10-12% in the next five years.

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Textile 19-10-2023

Union Minister praises Bharat Tex 2024 as India's textile powerhouse

26 October 2023, Mumbai

Union Minister of Textiles, Commerce & Industry, Consumer Affairs and Food & Public Distribution, Piyush Goyal, has commended industry bodies in the textile sector for their significant role in organizing the forthcoming Bharat Tex 2024 event, the largest-ever textiles expo.
Goyal expressed his enthusiasm during the curtain-raiser event held at Vanijya Bhavan, New Delhi, highlighting that this event is not merely a showcase but a testament to India's dedication to becoming a global textile powerhouse.

5Fs
He emphasized the 5F vision—Farm to Fibre to Factory to Fashion to Foreign—which encompasses innovation, collaboration, and the 'Make in India' spirit. Goyal's hope is that the Bharat Tex 2024 Expo will propel industry growth and underscore India's potential as a mature, competitive global sourcing destination in the textile industry.
The marquee event is scheduled for February 26–29, 2024, at iconic locations in New Delhi, with over 2,00,000 sq m of exhibition space.

Outlines

With exhibitors and buyers from more than 40 countries, Bharat Tex 2024 will showcase the entire textile industry value chain, from India's rich cultural heritage to the latest technological innovations. This mega event will include knowledge sessions, seminars, CEO roundtables, and more, redefining the global textile industry.
Bharat Tex 2024 will serve as a unique platform for both Indian and global textile players to explore investment opportunities, infrastructure, and incentives in India, highlighting its potential as a manufacturing and consumer market.
Textile Value Chain

Various textile-related export promotion councils and other industry bodies support this industry-led initiative. Naren Goenka and Bhadresh Dodhia presented detailed plans for the fair during the curtain-raiser event, attended by industry leaders and senior government officers.

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Textile 26-10-2023

$PiyushGoyal$

Fashion Sector Climate Commitment: Between Greenwashing and Ambition

23 October 2023, Mumbai

The fashion sector is facing increasing scrutiny over its climate commitments. Some brands, such as LVMH, are taking ambitious steps to reduce their environmental impact, while others are accused of greenwashing.
LVMH's LIFE360 program sets out a range of climate and biodiversity targets, including no virgin plastics in packaging by 2026, a 50% cut in energy-related emissions by 2026, and zero deforestation from products in its supply chain by 2025.

Nuanced view
However, other brands, such as Moncler and Kering, have been less forthcoming about their climate plans. Moncler's chief of marketing and operations, Roberto Eggs, refused to divulge any committed goals, stating that the company would cater to weather upheavals with a portfolio of light and heavy puffer jackets.
This lack of transparency and ambition has led to accusations of greenwashing and raised questions about whether the fashion sector can ever be truly sustainable.
One expert, Jason Judd, Executive Director of Cornell University's Global Labour Institute, has warned that extreme heat and flooding are exacting a huge toll on workers and output in the fashion sector. He argues that these are "material risks" that the industry cannot ignore.
The UN Secretary-General, Antonio Guterres, has also issued a stark warning about the climate crisis, stating that "the era of global boiling has arrived."

Mounting challenges & threats
In the face of these challenges, it is clear that the fashion sector needs to do more to reduce its environmental impact. Brands need to be more transparent about their climate plans and set ambitious targets that are aligned with the Paris Agreement.
They also need to invest in sustainable supply chains and develop new materials and technologies that reduce their reliance on fossil fuels.
Whether the fashion sector can ever be truly sustainable is a matter of debate. However, there is no doubt that the industry needs to take urgent action to reduce its environmental impact.

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Textile 23-10-2023

Trident Group under Income Tax scanner

18 October 2023, Mumbai

As per a recent ETRetail report, the Trident Group, a diversified business conglomerate, is facing extensive scrutiny by the Income Tax Department for alleged financial misconduct. The department is conducting nationwide raids as part of an investigation into the group's financial transactions and records.
Background

The Trident Group, founded by Padma Bhushan Awardee Rajinder Gupta, has a significant presence in various industries, including yarn, home fashion, paper, and adaptive power. The group operates its main manufacturing units in Punjab and Madhya Pradesh.
The Income Tax Department's raids are reportedly focused on the group's premises in Ludhiana, Barnala, Dhaula, and Budhni. The department is also investigating the residences of some of the group's top officials.
Nuances

The Trident Group has not yet issued any statement on the raids. However, sources close to the group have denied any wrongdoing.
The Income Tax Department's investigation is still ongoing, and it is too early to say what the outcome will be. However, the raids are a sign that the government is serious about cracking down on financial misconduct by large corporations.

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Textile 18-10-2023

VDMA Textile Machinery Association to Showcase Latest Technologies in India

26 October 2023, Mumbai

Ahmedabad and Coimbatore To Host Technology Showcase Events on December 5 and 7, 2023
The VDMA Textile Machinery Association is supporting a delegation visit of 13 well-known textile machinery manufacturers to India from December 4–8, 2023.

The visit will feature technology showcase events in Ahmedabad and Coimbatore on December 5 and 7, 2023, respectively.
Details

The event is supported by the German Federal Ministry for Economic Affairs and Climate Action and organized by SBS Systems for Business Solutions in association with VDMA India.
Decision-makers and experts from the textile and nonwovens industry in India will have the opportunity to learn about the latest textile machinery solutions to make their textile businesses and products more sustainable and efficient.
The 13 renowned VDMA member companies and their Indian partners cover the entire value chain, from spinning, knitting, weaving, nonwovens, dyeing, and finishing.
Momentous Occasion
This is a great opportunity for Indian textile manufacturers to learn about the latest technologies and innovations from leading German textile machinery manufacturers.
With its growing domestic market and focus on sustainability, India is poised to become a global hub for apparel manufacturing and exports.

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Textile 26-10-2023

Additive Manufacturing in the Textile Industry Symposium

21 October 2023, Mumbai

What: The 6th ‘ADDITIVE MANUFACTURING in the textile industry’ symposium will focus on the latest practical news and research in the field, including new materials, innovative manufacturing technologies, and future-oriented applications.
When: 8th November 2023
Where: Formnext, Frankfurt am Main, Germany
Who: Organized by the KARL MAYER GROUP, TITV Greiz, and STFI
Why: Additive technologies offer new potential for developing innovative textile solutions and customized products.
Highlights: Science and industry lectures, trade exhibition, and Formnext exhibition pass included.

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Textile 21-10-2023

700 Delegates Gather in Singapore for Cotton Trade Event

17 October 2023, Mumbai

Over 700 delegates from the global cotton industry gathered in Singapore from 11-12 October for the International Cotton Association’s (ICA) annual trade event.

Outlines

The event featured keynote sessions, a panel session on traceable supply chains, and networking opportunities.
In his closing speech, ICA President Tim North reflected on his key areas of focus during his presidency, including membership growth, membership structure review, brand and retail committee, default list reduction, and MoUs with key organizations.

He also thanked the members for their confidence and trust.
Next year's ICA event will take place in Liverpool from 16-17 October.

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Textile 17-10-2023

Textile Asia Trade exhibition, 2023

23 October 2023, Mumbai

The Pakistan Textile Asia Trade Exhibition is the most prestigious and long-lasting biannual event for the Pakistani textile industry.
It took place at the Lahore Expo Centre from October 13th to October 15th, 2023.
The exhibition aimed to facilitate trade and commerce among different sectors.

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Textile 23-10-2023

Century Textiles reports for FY'24Q2

21 October 2023, Mumbai

As per Stock Market LIVE Updates |
Century Textiles and Industries, a leading Indian textile manufacturer, reported a sharp decline in performance in the second quarter of fiscal year 2023–24. The company suffered a net loss of Rs 30.4 crore, reversing its profit of Rs 71.6 crore in the same quarter last year. Revenue also fell 10.5%, to Rs 1,103 crore from Rs 1,233 crore in the previous year.

Nuances
The company's performance was impacted by a number of factors, including rising input costs, a global economic slowdown, and geopolitical tensions. The company's management said that the rising cost of cotton and other raw materials, as well as the ongoing war in Ukraine, had a significant impact on its profitability.
Despite the challenging environment, Century Textiles remains focused on its long-term growth strategy. The company is investing in new capacity, expanding its product range, and focusing on sustainable manufacturing practices.

Textile 21-10-2023

Social Media Workshop to Expand Understanding and Application

16 October 2023, Mumbai

Date: October 17th, 2023
Time: 10:30 AM - 1:30 PM
Venue: TIT&S Bhiwani, Haryana
The Social Media Workshop will bring new concepts, knowledge, and its application to students to enable them to be current, upgraded, and contribute to the profession they are entering.
The workshop objectives are to:
Expand understanding of social media as a new age digital tool
Explore the application of social media in a designer’s career
Apply the learning into making relevant social media posts to brand and communicate
This event is organized under the aegis of NISTI (Regd.), New Delhi.

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Textile 16-10-2023