01 April 2022, Mumbai:

According to media reports, the Union Government is considering selling the loss-making National Textile Corporation (NTC). The sale will be submitted to the cabinet for approval soon.

The Ministry of Textiles owns the NTC, which was founded in April 1968. (MoT).

NTC has been losing money for the past two decades and more, but it made a technical profit of Rs. 969 crore in FY17 after accounting for capital gains from the sale of a slew of prime properties and land parcels in Mumbai and elsewhere.

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According to rumors in the media, the Union Government is considering selling the National Textile Corporation, which is losing money (NTC). The sale will be presented to the cabinet for approval in the near future.

The NTC, which was created in April 1968, is owned by the Ministry of Textiles. (MoT).

NTC has been losing money for the past two decades and more, according to a report published by Financial Express, a leading business daily, but it made a technical profit of Rs. 969 crore in FY17 after accounting for capital gains from the sale of a slew of prime properties and land parcels in Mumbai and elsewhere.

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NTC's net loss for the fiscal year 2019-20, the most recent year for which financials are available, was Rs. 350 crore, up 13% year on year.

Its turnover in the same fiscal year was Rs. 850 crore, down 21% from the previous year, and its net worth was Rs. 1,381 crore, down 20% from the previous year.

The most recent attempt to resurrect the corporation came in 2012, when the then-Board for Industrial and Financial Reconstruction recommended a package (BIFR).

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Around Rs. 5,500 crore was paid as part of the package to cover a variety of costs, including overdue statutory dues, one-time settlements (OTS) with financial institutions, interest payments, and compensation under the amended VRS.

Under the rejuvenation project, NTC has invested Rs. 1,646 crore in modernizing its mills. Despite this inflow of cash, the Corporation has yet to become operationally profitable, owing in part to rising raw material costs.

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CREDITS: Financial Express & Apparel Resources.

31 March 2022, Mumbai:

From 21 to 24 June, the trade fair duo Techtextil and Texprocess and, uniquely, the Heimtextil Summer Special will open their doors simultaneously, each presenting a broad global product spectrum and the latest trends in the fields of technical textiles, the textile processing industry, and textile interiors.

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Find here details about the product range, innovative special topics, and the synergies of the three trade fairs along the textile value chain, give you an understanding of the digital expansion of the technical textile fairs and at the same time focus on cross-fair future topics such as sustainability.

Available via live stream on April 6, at 1 p.m. (CEST).

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Speakers:

Detlef Braun, Member of the Executive Board of Directors, Messe Frankfurt Olaf Schmidt, Vice President Textiles & Textile Technologies, Messe Frankfurt Michael Jänecke, Director Techtextil, Texprocess, Messe Frankfurt

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Live transmission: Dirk Vantyghem, Director General, EURATEX - European Apparel and Textile Confederation Elgar Straub, Geschäftsführer, VDMA e.V.

Moderation:

Ivonne Seifert, Director Marketing Communications, Textiles & Textile Technologies, Messe Frankfurt

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30 March 2022, Mumbai:

With over 10,000 visitors, the premiere of Texhibition Istanbul Fabric and Textile Accessories Fair from March 16-18, 2022 closed successfully.

In Istanbul, visitors from 63 countries met over 160 exhibitors, who presented their latest collections on around 5,000 sqm.

ALSO READ The Spring Edition of Intertextile Shanghai Apparel Fabrics will be held from 9 to 11 March in 2022 at the National Exhibition and Convention Center (Shanghai)

The Texhibition Forum focused on current topics and trends such as sustainability, supply chains, and GMO-free cotton.

Exhibitors and visitors alike were very pleased with the new industry event, its professionalism, and the successful business on site.

RELATED NEWS Dhaka International Textile & Garment Machinery Exhibition, Bangladesh (DTG) to be held on from 20th March to 23rd March 2022

Turkey is one of the most important procurement markets for the European textile industry, currently top 3 of the most interesting locations.

The next Texhibition will take place from 21-23 September.

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01 April 2022, Mumbai:

Odisha, one of India's most populous states, has authorised the free long-term allocation of two acres of additional land close to the National Institute of Fashion Technology (NIFT) campus in Bhubaneswar.

*National Institute of Fashion Technology (NIFT), Bhubaneswar, organised a three-day training programme on natural dyes for handloom weavers at Weavers’ Service Centre here on Thursday.

ALSO READ The National Institute of Fashion Technology (NIFT) in Bhubaneswar has been given an extra two acres of land

The program was being implemented as part of a consortium in which NIFT, Bhubaneswar, the State Agency for the Construction of Handloom Clusters (SADHAC), director textiles, the Odisha government, and the Central Silk Board are all involved.

In order to successfully implement the scheme, the Weaver Service Centre (WSC) is providing technical assistance.

RELATED NEWS NIFT is planning to provide hybrid online courses

Weavers from various handloom clusters of the state like Nuapatna, Maniabandha, Gopalpur, Atta and Bhagamunda participated in the programme that aims to help the craftsmen in understanding the application of natural dyes on the handloom.

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

30 March 2022, Mumbai:

Strict lockdowns and mass vaccination programs helped the Indian textile engineering industry (TEI) stage a quicker-than-expected recovery from the second COVID wave in Q3 and Q4 of 2021-22.

Production value to surge

Figures from Textile Machinery Manufacturers Association (TMMA) (I) show, Indian TEI managed to reduce its annual production losses in 2020-21 by -5 percent to Rs. 5,093 crore from Rs 5,355 crore in 2019-20.

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Production of textile machinery is estimated to surge 52 percent to Rs 8,056 crore during 2021-22 with the value of production including spare parts and accessories estimated to grow 58 percent to Rs 1,229 crore from Rs 777 crore in 2020-21.

The rise in exports and imports

In 2021-22, textile exports are estimated to surge 70 percent to Rs 5,250 crore. Export of textile spare parts and accessories are also expected to grow 55 percent to Rs 1,600 crore in 2021-22 from Rs 1,029 crore in 2020-21.

Imports on the other hand are estimated to rise 152 percent to Rs 11,500 crore in the current fiscal as against Rs 10834 crore in 2018-19, says a Textile Value Chain report.

Import of spare parts and accessories are estimated to rise 33 percent to Rs 2,500 crore in 2021-22 as compared to Rs 1,881 crore in 2020-21.

Weaving and processing orders to rise

The rise in exports and decline in imports can be attributed to the pent-up demand created by the lockdowns of 2020-21 and 2021-22. Exporters rushed in to cash in on the business opportunities thrown in by the liquidity infusion by various governments in the market and revenue spending by consumers.

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Industry leaders, especially those involved in the spinning sector, confirmed having enough orders to last till 2023-end.

They denied accepting any new orders. Other segments such as weaving and processing have not picked up in proportion to the spinning segment.

However, they are expected to log in new orders soon helping the Indian Textile Engineering Industry rise like the proverbial phoenix bird.

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29 March 2022, Mumbai:

A leading global provider of advanced weaving solutions, Itema showcased a rapier R9500-2 weaving machine, in weaving width 3800mm and equipped with a Stäubli LXM 5376 hooks Jacquard shedding machine at Sitex.

The machine on display in Stäubli booth wove a fabric traditionally produced in the mills of the Region and was configured to meet the local weavers production needs.

Sitex was also the official launch of the partnership between Itema and the leading Italian circular knitting machines manufacturer CesareColosio for the marketing and distribution of the company's highly innovative machines in India.

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With this partnership Itema expands its portfolio of textile products, thus creating a significant benefit for all the Indian textile companies that need both the Itema and the Colosio machinery, that share the same attention to innovation and excellence that Itema guarantees to its customers.

Itemaaims to lead the Jacquard market on account of growing for its technology due to the capability of its looms to weave even the most difficult styles and yarns, guaranteeing superior fabric’s quality; particularly, its skills in saree weaving and weaving of furnishing fabrics.

RELATED NEWS SITEX 2022–Surat International Textile Expo to happen on JANUARY 8-9-10, 2022Surat International Textile Expo 2022

The company is the only manufacturer in the world to provide the top three weft insertion technologies: rapier, airjet, and projectile, with an ample product portfolio and a commitment to continuous innovation and technological advancement of its weaving machines.

Itema is a trusted partner of many Indian weaving mills, from large textile conglomerates to smaller textile manufacturers, providing the most advanced and user-friendly weaving technology and real-time assistance, from the initial negotiation stage and throughout the whole machine life cycle.

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31 March 2022, Mumbai:

Dr. Janpeter Horn, Managing Director of August Herzog Maschinenfabrik, is the new Chairperson of the VDMA Textile Machinery.

Dr. Horn was elected at the members’ meeting of the Association in Leonberg. The new Executive Board is completed with Ms. Regina Brückner, Managing Associate of Brückner Trockentechnik and Ms. Verena Thies, Managing Shareholder of Thies Textilmaschinen, who were elected as Vice Chairpersons.

After his election, Dr. Horn stated: “I am pleased to have Ms. Brückner and Ms. Thies by my side.

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Both have been serving on the Executive Board of the VDMA Textile Machinery as well as the European Committee of Textile Machinery Manufacturers CEMATEX for many years.

With this team, we are well prepared to effectively represent the interests of the industry at national and international level.” Based in Oldenburg, Northern Germany, Herzog is a company with a long tradition and at the same time the most innovative developer and manufacturer of braiding and winding machinery.

Worldwide references in braiding and winding technique confirm the company’s technical and quality leadership.

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The new Executive Board of the VDMA Textile Machinery for the legislative period until 2026 is composed of:

Dr. Janpeter Horn (Chairperson), August Herzog Maschinenfabrik Regina Brückner (Vice Chairperson), BRÜCKNER Trockentechnik Verena Thies (Vice Chairperson), THIES Peter D. Dornier, Lindauer DORNIER Stefan Flöth, A. Monforts Textilmaschinen Arno Gärtner, KARL MAYER STOLL Textilmaschinenfabrik Markus Kleindorp, MEMMINGER-IRO Andreas Lukas, ANDRITZ Küsters Benjamin Mayer, Mayer & Cie. Dr. Jörg Morgner, Temafa Maschinenfabrik Benjamin Reiners, Reiners

+

Fürst Dr. Uwe Rondé, Saurer Group Eric Schöller, Groz-Beckert Georg Stausberg, Oerlikon Textile Heinrich Trützschler, Trützschler Group

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29 March 2022, Mumbai:

The state government of Andhra Pradesh (AP) is planning to build a world-class mega textile park near Raptadu in the Anantapur district, and it is eager to complete the project as soon as feasible.

YSRC Raptadu lawmaker Thopudurthi Prakash Reddy stated that the AP Industrial Infrastructure Corporation Limited (APIIC) has already set aside 171.17 acres of land in the Raptadu assembly constituency for the giant textile park to be built.

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Andhra Pradesh, he claimed, will capture a significant portion of these statistics by developing a state-of-the-art mega textile park in the Anantapur district.

He also stated that the YSRC Government has to correct the previous government's Andhra Pradesh Textile Policy 2018-23 in order to move on with the plan.

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There are now just a few large garment manufacturing plants in the state, aside from Brandix Apparel Park in Visakhapatnam. Notably, the Aditya Birla Group began building a textile plant in the state only a few months ago.

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CREDITS: TOI media sources & Apparel Resources.

31 March 2022, Mumbai:

TENCEL (TM) and RCGD Global celebrate eco-couture at the Oscars® and reveal the winning looks from the Global Design Contests in 2020 and 2021.

For the third year, TENCEL(TM), Lenzing's flagship textile brand, and RCGD Global (previously known as Red Carpet Green DressTM) collaborate to highlight eco-couture at the 94th Academy Awards® (commonly known as "the Oscars").

RCGD Global and TENCEL(TM) also announced the winning designs of the 2020 and 2021 Global Design Contests for the first time on March 25 at a Pre-Oscars celebration in Los Angeles as part of the collaboration.

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RCGD Global is a global change-making organization driven by women that works from "moment" to "movement," bringing global cultural sustainability to the forefront of discourse and action in the fashion and design sector.

"We are happy to work with RCGD Global for the third consecutive year in greening up the Oscars and empowering upcoming designers through the global design challenge," said Harold Weghorst, Global Vice President of Marketing and Branding at Lenzing AG.

These events are significant steps toward our goal of bridging the gap between high-end fashion and positive environmental impact.

The continuous relationship supports our broader objective to provide brands and designers with sustainable solutions, concentrating on strengthening circularity and developing a totally transparent supply chain, as we celebrate TENCEL(TM)'s 30th anniversary this year."

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On the red carpet of the Oscars this year, three custom-made dresses made of customized fabrics produced from TENCEL Lyocell fibers and TENCEL(TM) Luxe filament yarn were highlighted.

TENCEL(TM) trademarked lyocell fibers are made in a closed loop process from sustainably sourced natural raw material wood and are entirely biodegradable and compostable.

'It was a joyous occasion to celebrate our Pre-Oscars party after two years of distant activities,' stated Samata Pattinson, CEO of RCGD Global.

RELATED NEWS  Lenzing: Comes up with global lyocell facility

It was wonderful to see so many of our friends and supporters in one place to celebrate fabrication and technical advancements in the fashion industry, as well as to finally show off Sanah Sharma, Jasmine Kelly Rutherford, and Yuriko Fukuda's winning designs from the RCGD Global Design Contest.

We're also looking forward to continuing the celebrations on the red carpet at the 94th Academy Awards® with our yearly sustainable dresses designed with our partner TENCELTM."

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CREDITS: PR News Wire & Apparel Resources.

30 March 2022, Mumbai:

The predominantly cotton based textile industry is facing a long drawn recession on cotton front as the cotton price has increased from Rs 44,500/- per candy in February 2021 when the 11% import duty was levied on cotton to Rs 90,000/- per candy now.

The steep increase in cotton price and its impact on prices of yarns and fabrics is severely impacting the potential growth of the cotton textile value chain.

Though the industry could manage the unprecedented COVID pandemic challenges with various policy interventions relating to export especially RoDTEP, RoSCTL etc., the industry started incurring cash loss and facing difficulty in meeting the export commitments.

ALSO READ SIMA, CHAIRMAN: Indian Textile Mills concerned about global order cancellations

It is feared that the industry might face cotton shortage during August to October resulting in industrial unrest.

There is no reliable data available regarding the stock maintained by the kapas traders, ginners and cotton traders.

In the case of spinning mills, only around 40% of the mills provide data to the office of the Textile Commissioner.

RELATED NEWS SIMA, CHAIRMAN: Indian Textile Mills concerned about global order cancellations

Therefore, the cotton traders are hoarding the cotton and speculating the price on a daily basis taking advantage of futures trading in MCX and NCDEX.

Though the cotton prices occasionally move in tandem with international price, quality cotton is not sold and mills started facing shortage.

Therefore, the industry has been demanding to withdraw the 11% import duty to have a level playing field, sustain the export performance and compete with the cheaper imports from countries like Bangladesh.

RELATED NEWS  SIMA: India to face a cotton shortage

In a joint Press Meet held today at SIMA Conference Hall, Coimbatore, Mr.T.Rajkumar, Chairman, Confederation of Indian Textile Industry (CITI), Mr.Ravi Sam, Chairman, The Southern India Mills’ Association (SIMA) and Mr.Raja M Shanmugam, President, Tirupur Exporters’ Association (TEA) addressed the Press and briefed regarding the grave situation being faced by the entire cotton textile value chain across the country.

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29 March 2022, Mumbai:

The worldwide textile chemicals market is estimated to reach US $ 38.66 billion by 2030, growing at a revenue CAGR of 4.3 percent throughout that time.

Growing demand for home decor goods will fuel global revenue growth. At the same time, shifting fashion trends and growth in the working population are driving the demand for attractive attire.

ALSO READ ITIS (International Textile Industry Statistics)

As a result, the market for textile chemicals is growing. Reports and Data is a market research and consulting firm that offers syndicated and custom research reports, as well as consulting services.

Manufacturers in developing nations such as India have switched their emphasis to investing in product innovation, which is assisted by the government's Make in India initiative, according to the research.

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In general, rising demand for natural fibers is predicted to drive up demand for textile chemicals during processing.

Huntsman Corporation, Archroma, Dow Inc., BASF SE, Wacker Chemie AG, Evonik Industries AG, Solvay S.A., TANATEX Chemicals India Ltd., DIC Corporation, and OMNOVA Solutions Inc. are a few of the key firms in the textile chemical market.

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CREDITS: PR NEWS WIRE Reports and Data Survey & Apparel Resources.