02 February 2022, Mumbai:

The President of India, Ram Nath Kovind, has stated that the Mega Integrated Textile Regions and Apparel Parks (MITRA) programme will create lakhs of new jobs.

In his address to the joint sitting of the two Houses of Parliament, the President stated that the MITRA Parks and other Central Government initiatives will help to develop the integrated textile value chain.

"Along with creating new sectors, the government is restoring our historic strength in domains where we have centuries of expertise," the President stated in his speech. The government has sanctioned seven Mega Integrated Textile Regions and Apparel Parks with a total investment of Rs. 4,500 crore in this direction.

This will make the textile value chain more interconnected. These gigantic textile parks would attract both Indian and foreign companies, as well as thousands of new jobs."

The President added that the 14 main Production Linked Incentive (PLI) initiatives will not only help India turn into a global manufacturing center, but will also create over 60 lakh employment.

Speaking about India's export development, the President stated that from April to December 2021, our entire products exports were US $300 billion dollars, or more than Rs. 22 lakh crore, which is 1.5 times more than the same period in 2020.

President Obama described infrastructure as the cornerstone for every country's progress and stated that the government saw infrastructure as a bridge to alleviate socioeconomic inequalities.

He went on to say that infrastructure investment not only creates thousands of new jobs, but also has a qualitative impact, making it easier to do business, allowing for speedier transportation, and stimulating economic activity across sectors.

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01 February 2022, Mumbai:

Reported Standalone quarterly numbers for Siyaram Silk Mills are: Net Sales at Rs 562.49 crore in December 2021 up 47.11% from Rs. 382.35 crore in December 2020. Quarterly Net Profit at Rs. 69.06 crore in December 2021 up 146.2% from Rs. 28.05 crore in December 2020.

EBITDA stands at Rs. 110.78 crore in December 2021 up 81.73% from Rs. 60.96 crore in December 2020.

Siyaram Silk EPS has increased to Rs. 14.73 in December 2021 from Rs. 5.98 in December 2020. Siyaram Silk shares closed at 483.30 on January 31, 2022 (NSE) and have given 16.25% returns over the last 6 months and 154.03% over the last 12 months.

**The statistics mentioned in the above articles have been sourced from the following sources. 

CREDITS: Money Control 

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01 February 2022, Mumbai:

The deadline for submitting applications under the PLI (Production Linked Incentive) Scheme for Textiles has been extended by the Ministry of Textiles (MoT) till February 14,2022.

Previously, the deadline for submitting an online application for the PLI Scheme for Textiles was 31 January 2022.

The PLI plan, which has been authorized for a five-year expenditure of Rs. 10,683 crore to stimulate the manufacturing of MMF garments, MMF fabrics, and technical textile goods, is projected to attract significant investment.

The PLI plan prioritizes manufacturers located in aspirational districts or Tier-3 and Tier-4 cities, benefiting states such as Gujarat, Uttar Pradesh, Maharashtra, Tamil Nadu, Punjab, Andhra Pradesh, and Telangana. Separately, the Confederation of Indian Industry (CII) has stated that the Budget should include higher PLI rates in order to stimulate manufacturing job growth.

"With the need to maintain jobs and generate new jobs as the country recovers from the epidemic, CII recommends that the incentive include a job-creation component."

The incentives might be based on the projected number of jobs produced in the project, with job creation receiving more weight in the PLI schemes, according to CII.

CREDITS: Apparel Resources

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02 February 2022, Mumbai:

Cotton prices have risen to a 10-year high, and they are increasing on a daily basis in both the international and Indian markets. The combination of plentiful cash and strong demand for commodities has produced positive momentum in 2021.

But now, these basic elements are shifting, and it's time to be more cautious about purchases and inventories because the price will fall sharply and quickly from its current level. A portion of the industry feels that present cotton prices will not be sustained since the fundamentals are weak.

Fashion products demand is declining, according to Prabhu Dhamodharan, Convenor, Indian Texpreneurs Federation (ITF), Coimbatore, due to inflationary tendencies across all markets and a shift in expenditure towards services.

At the same time, retail sales in the United States and the United Kingdom declined in December, while the January Consumer Confidence Survey in the United States plummeted by over 6% to its lowest level since November 2011.

The recent bull run over the last 45 days has been mostly speculative, and ITF believes that present prices are not sustainable. ITF has issued a warning to its member manufacturing enterprises, advising them to proceed with caution.

"We're hearing from overseas markets about consumers' reluctance to accept new rates, and the same signals are showing up in new order confirmations from developed countries," Prabhu said, adding that cotton isn't a vital commodity like edible oils or grains. Its demand is solely determined by people's purchasing ability.

With inflation on the increase, people's purchasing power will be put to the test, and cotton will face a lot of demand destruction in the future.

It's also worth noting that alternative fibers are fast gaining traction as a result of the growing expense of cotton. This shift is being seen by ITF in a number of weaving clusters in Tamil Nadu.

The demand equation will also be rebalanced as a result of this. Due to high pricing, the business is seeing opposition from value chain partners all the way up to the retail side in domestic markets, according to Prabhu. Consumption is being impacted by the inflationary trend, and retailers are turning to alternative fiber items.

Cotton speculative interest will be reduced by signals from wealthy nations limiting liquidity and boosting interest rates, even at these historically high prices.

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01 February 2022, Mumbai:

The exemptions to incentivize exports in handicrafts, textiles, and leather garments, as announced in Budget 2022, will enhance global competitiveness of textiles exports from India.

To incentivise exports, exemptions will be provided on items such as embellishment, trimming, fasteners, buttons, zipper, lining material, specified leather, furniture fittings and packaging boxes that may be needed by bonafide exporters of handicrafts, textiles and leather garments, leather footwear and other goods.

Result in more employment opportunities and increased economic activity, several duty exemptions have been granted to capital goods for various sector including Textiles.

More than 350 custom exemption entries are proposed to be gradually phased out.

These include exemption on certain fabrics for which sufficient domestic capacity exists.

Further, as a simplification measure, several concessional rates are being incorporated in the Customs Tariff Schedule itself instead of prescribing them through various notifications.

The exemptions granted will boost Capital goods production in the country and further lead to employment generation boosting the growth of the domestic sector.

This comprehensive review will simplify the Customs rate and tariff structure for the textiles sector.

CREDITS: Invest India

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29 January 2022, Mumbai:

The company has reported EPS of Rs. 4.38 for the period ended December 31, 2021 as compared to Rs. 3.31 for the period ended September 30, 2021.

Financials	Q3 FY2022	Q2 FY2022	% Change
Total Income	₹ 1087.18 crs	₹971.73 crs	11.88%
Net Profit	₹98.25 crs	₹73.78 crs	33.17%
EPS	₹4.38	₹3.31	32.33%

Financial Results (Q3 FY2022) - YoY Comparison

The company has reported total income of Rs. 1087.18 crores during the period ended December 31, 2021 as compared to Rs.723.39 crores during the period ended December 31, 2020.

The company has posted net profit / (loss) of Rs.98.25 crores for the period ended December 31, 2021 as against net profit / (loss) of Rs.66.04 crores for the period ended December 31, 2020.

The company has reported EPS of Rs.4.38 for the period ended December 31, 2021 as compared to Rs.2.98 for the period ended December 31, 2020.

Financials	Q3 FY2022	Q3 FY2021	% Change
Total Income	₹ 1087.18 crs	₹723.39 crs	50.29%
Net Profit	₹98.25 crs	₹66.04 crs	48.77%
EPS	₹4.38	₹2.98	46.98%

Financial Results (9 Months Ended FY2022) - YoY Comparison

The company has reported total income of Rs.2760.38 crores during the 9 Months period ended December 31, 2021 as compared to Rs.1378.50 crores during the 9 Months period ended December 31, 2020.

The company has posted net profit / (loss) of Rs.224.17 crores for the 9 Months period ended December 31, 2021 as against net profit / (loss) of Rs.47.45 crores for the 9 Months period ended December 31, 2020.

The company has reported EPS of Rs.10 for the 9 Months period ended December 31, 2021 as compared to Rs.2.14 for the 9 Months period ended December 31, 2020.

Financials	9 Months Ended FY2022	9 Months Ended FY2021	% Change
Total Income	₹2760.38 crs	₹1378.50 crs	100.25%
Net Profit	₹224.17 crs	₹47.45 crs	372.43%
EPS	₹10	₹2.14	367.29%

Shares of Filatex India Limited was last trading in BSE at Rs. 116.50 as compared to the previous close of Rs. 115.35. The total number of shares traded during the day was 219676 in over 2979 trades.

02 February 2022, Mumbai:

D-6 before the return of Texworld Evolution Paris to the Paris - Le Bourget Exhibition Center. During three days, several hundred fabrics and clothing exhibitors will represent the major international sourcing countries.

After a two-year absence in its usual form, the crossroads for the fashion industry is back in Paris. From 7 to 9 February, the Paris - Le Bourget Exhibition Center will host the Texworld Evolution Paris trade fairs: Apparel Sourcing Paris for the sourcing of finished garments, Avantex Paris for innovative and sustainable textiles and products, Leatherworld Paris dedicated to the leather and related materials market, and finally Texworld Paris for the sourcing of fabrics.

They will gather in one place the main global offer for fashion brands, from ready-to-wear to luxury. Partners for fashion sourcing By offering buyers the opportunity to reconnect with the market, Texworld Evolution Paris reinforces its vocation as a partner for fashion sourcing: the fair will bring together over 200 exhibitors from 16 countries for 3 days.

Turkey will be strongly present, China, but also Pakistan, Bangladesh, Uzbekistan, Korea and Taiwan will be widely represented, putting Asia back at the heart of European brands' textile sourcing.

Leatherworld will host manufacturers from China, Thailand, Pakistan and Bangladesh. Apparel Sourcing, meanwhile, will bring together a hundred or so exhibitors from a dozen countries.

Alongside the Chinese exhibitors who will be able to make the trip, the “Source In China” area, at the entrance to the show, will concentrate some twenty Chinese manufacturers. Agents and experts from Foursource, the digital partner of Messe Frankfurt France, will assist visitors, answer technical questions and ensure the link between visitors and those manufacturers who could not make the trip.

In addition to the presence of Pakistani, Bangladeshi and Vietnamese exhibitors, Apparel Sourcing will be welcoming 18 companies in the Uzbek pavilion. This first participation confirms the ambitions of the Central Asian country as a player in international sourcing.

Abana, a sourcing platform based in Mauritius which offers sourcing solutions in the African zone, should also not be missed.

(Re)opening fashion to the world With exhibitors from around ten countries, Texworld also gives textile buyers a much-needed insight into the international offer.

The Turkish and Korean national pavilions will bring together more than 50 companies.

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02 February 2022, Mumbai:

India, the second largest populous country in the world, could successfully fight against COVID-19 pandemic without compromising much on impact of the pandemic by bringing various unique and innovative relief measures and policy interventions that enabled the country to recover from the unforeseen crisis on a fast track.

India could also convert certain challenges like manufacture of indigenous PPE kits into opportunities and became the second largest manufacturer of PPE kits within few months which not only protected the people of India, but also the globe.

By covering over 150 crores of vaccinations during the last two years, the impact of COVID third wave and Omicron is much less in the country. The Union Government has been constantly announcing several policies that are enabling India to attract large scale investments and alleviate unemployment problems.

The Union Budget 2022-23 is yet another boon for India to become superpower in the coming decades. In a Press Release issued here today, Mr.Ravi Sam, Chairman, The Southern India Mills’ Association (SIMA) has said that the Union Government has already announced several unique schemes apart from boldly addressing certain structural issues on taxation front and raw material and substantially enhanced the global competitiveness of the Indian textiles and clothing industry, the second largest employment provider next only to the agriculture.

He has hailed the various announcements made with regard to infrastructure development, productivity improvement, digital world, industry 4.0, skill development with hub & spoke model infrastructure facilities.

It is heartening to note that the country is expected to grow at 9.27% in the coming year, a phenomenal achievement for any country in the post- COVID period, says Mr.Ravi Sam. He has said that GST collection of Rs.1,40,986 crores for the month of January 2022, the highest since the implementation of GST, is an indication for the phenomenal economic growth of the Nation.

He has added that four pillars of development viz., inclusive development, productivity enhancement, energy transition and climate action would boost the overall economic growth of the Nation.

Mr.Ravi Sam has welcomed the decision of extending Emergency Credit Loan Guarantee Scheme (ECLGS) till March 2023 to enable certain segments to gear up and achieve its potential growth.

SIMA Chairman has said that the allocation of Rs.17,683 crores to Cotton Corporation of India (CCI) to procure cotton for the years 2021-22 and 2022-23 under Minimum Support Price will help CCI to wipe out its losses incurred for procurement of over two crores bales of cotton during the last two years that had greatly benefited the farmers to sustain the area under cotton.

He has said that the steep increase in the international cotton price and consequential domestic cotton price has made the Indian farmers to fetch huge revenue for their produce during the current season, though it has impacted the cotton textiles value chain exporters.

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28 January 2022, Mumbai:

Vishal Fabrics Limited (VFL), a prominent denim manufacturing and fabric processing firm, has released its unaudited standalone financials for the third quarter of fiscal year 2021, which concluded on December 31, 2021.

The firm generated sales of Rs. 427 crore in Q3FY22, up from Rs. 292 crore in Q3FY21, a 46 percent increase.

Revenue for the first nine months of FY22 was Rs. 1,121 crore, up from Rs. 579 crore in the first nine months of FY21, a 94% increase. The net profit after tax (PAT) for Q3FY22 was Rs. 19 crore, up from Rs. 10 crore in Q3FY21, a 97 percent increase.

The net profit after tax for the first nine months of FY22 was Rs. 49 crore, up from Rs. 4 crore in the same period of FY21.

VFL is a subsidiary of the famous Chiripal Group, which has over three decades of expertise in providing unrivaled goods to a wide range of customers. "During the quarter, the firm was able to attain sustainable margins," stated Brijmohan Chiripal, MD & CEO.

The corporation was able to pass on the higher cost to the clients successfully. EBITDA margins were maintained thanks to our ongoing efforts to keep operational expenditures under control. Furthermore, we maintained our pace and saw a 46% increase in the sale of finished textiles."

During the quarter, the company's capacity utilization remained steady. For the fourth quarter of FY22, the company's order book remains solid. "It confirms our continual focus on quality, manufacturing efficiency, on-time delivery, design, and innovation to offer superior outcomes to all of our stakeholders."

While short-term obstacles may linger, we remain positive about the Indian textile industry's long-term development prospects, as well as our capacity to boost utilization and gain revenue and market share," said Brijmohan Chiripal.

**The statistics mentioned in the above articles have been sourced from following sources

CREDITS: MINT  ET

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