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.
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.
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.
16 October 2023, Mumbai
Rajendra Agarwal is a respected leader in the yarn industry. He has a gold medal in Textile Technology from V.J.T.I., Mumbai. He is known for his vision and innovation.
Recently FICCI invites him to TAG 2023 panel at Mumbai hotel.
As the Managing Director of Donear Group, he has led the company’s change from a fabric textile company to India’s top Lifestyle & Fashion house. He has planned and executed the company’s expansion and diversification.
Donear Group’s Achievements He has created new fabrics, products, and marketing strategies.
He has also acquired two famous textile companies and four well-known brands. He has made Donear Group the leading producer of branded menswear suiting fabric with various high-quality fabrics. He has also ventured into the retail sector with three brands.
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.
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.
14 October 2023, Mumbai
Textile Exports Up, Apparel Exports Down in September 2023
Key Findings:
Textile exports up 11.06% YoY in September 2023
Apparel exports down 11.23% YoY in September 2023
Cumulative textile and apparel exports up 1.77% YoY in September 2023, down 24.62% YoY
Indian textile and apparel exports down in April-September 2023
Conclusion:
The decline in textile and apparel exports in September 2023 and April-September 2023 is a matter of concern for the Indian textile industry.
The government and the industry need to work together to address the challenges facing the industry and support its growth.
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.
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.
14 October 2023, Mumbai
What is ITME Africa & Middle East 2023?
ITME Africa & Middle East 2023 is a textile and textile engineering event that will be held in Nairobi, Kenya from November 30 to December 2, 2023.
What is the purpose of the event?
The purpose of the event is to promote joint venture and business cooperation for textile and machine manufacturers, showcase the latest textile technology and innovations, and explore the potential of Kenya as a new business destination.
Who is organizing the event?
The event is being organized by India ITME Society, a non-profit apex industry body.
What are the key highlights of the event?
The event will feature over 23 participating countries from Africa, Asia, Europe, and North America. It is expected to attract over 10,000 visitors from the textile and textile engineering industry.
What did the dignitaries at the curtain raiser event say about the event?
The Guest of Honor, H.E. Shri Rohit Vadhwana, Deputy High Commissioner & DPR (UNEP & UN-HABITAT), High Commission of India, Nairobi, said, "This Exhibition is a significant stride towards enhancing bilateral trade and promoting industrial cooperation between India & Kenya.
This landmark partnership aims to harness the strengths of both nations and drive innovation, sustainability, and economic growth in the Textile Technology & Engineering sector."
The Chief Guest, H.E. Dr. Juma Mukwana, Principal Secretary, State Department for Industry, Republic of Kenya, stated, "ITME Africa & Middle East 2023 hosted in Kenya shall draw more attention to the potential of the Kenyan textile industry and raise awareness about their products and capabilities, both domestically and internationally."
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.
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.
14 October 2023, Mumbai
FICCI-Wazir Advisors has released a report titled "Textile Industry's Amrit Kaal: Roadmap for US$ 350 Billion Market by 2030" during the FICCI TAG 2023 Annual Textile Conference.
The report highlights the key global trends, market scenarios, and opportunities for India in the textile and apparel market. It further elaborates on the key initiatives that India will need to take to achieve the US$ 350 billion target by 2030.
Multiple data points
The report also highlights that the Indian textile and apparel market size is estimated to be around US$ 165 billion in 2022, with the domestic market constituting US$ 125 billion and exports contributing US$ 40 billion. Given the long-term positive outlook, the Indian textile and apparel market size is projected to grow at a 10% CAGR to reach US$ 350 billion by 2030.
The report suggests that export competitiveness, attaining manufacturing excellence, strengthening the textile value chain, embracing sustainable practices and circular economy, and leveraging government schemes are the key enablers to attain the US$ 350 billion market.
The report further suggests that the industry should also focus on:
Automation and digitalization to improve processes and efficiency levels
Strong focus on people and skill development
Leveraging FTAs to tap new markets
Developing capabilities and building capacities in synthetic textiles and technical textiles
Adopting global best practices for manufacturing excellence
The government should:
Provide additional support to the existing textile clusters
Bring assurances in product and process through collaborative efforts.
