30th November 2021, Mumbai:

Four textile companies have proposed investing roughly Rs. 400 crore in and around Madhya Pradesh's Neemuch area. According to sources, the Madhya Pradesh Industrial Development Corporation (MPIDC) has allocated land to these enterprises in the Neemuch district's Sarwaniya, Bamanwardi, and Morvan villages.

"Many firms have spotted land in the Neemuch region," said Rohan Saxena, ED, MPIDC, Indore, according to a prominent daily. "Recently, we have granted land to roughly six enterprises in various portions of Neemuch." In Neemuch, these units will build textile and biofuel factories." So yet, no company names have been revealed. In the Neemuch and Mandsaur regions, various homegrown enterprises and investors from Southern India have planned to put up integrated textile facilities and ethanol plants.

"Various big textile players are in negotiations with the industry department about taking up property in this region, and have viewed some locations," he added. In Neemuch, MPIDC has land banks of almost 100 hectares and is adding more Government land to lure enterprises to take up developed or undeveloped land.

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30th November 2021, Mumbai:

Indian exporters from labour-intensive sectors like textiles and leather industry are extremely keen on the restoration of trade benefits worth $6 billion under the US’ Generalized System of Preferences (GSP).

Their pitch comes after Commerce and Industry Minister Piyush Goyal made a renewed push for the restoration of these benefits, which were withdrawn in June 2019 by the Donald Trump administration, at the revived India-US Trade Policy Forum (TPF) with US Trade Representative Katherine Tai last week.

According to exporters from these sectors, the GSP scheme was withdrawn ‘prematurely’. The exporters said that while the withdrawal hadn’t been too debilitating and didn’t much affect the bilateral trade, a restoration would set some sectors on a better footing.

Goyal batted for the restoration of trade benefits under GSP in light of the fact that the Joe Biden administration has made it clear that it won’t go for a preferential trade arrangement under a limited deal with India at this point. The former Donald Trump administration had discussed a mini-trade deal and these issues were expected to be ironed out under that.

While in the past Goyal had said that lack of preferential trade with the US would not have a “significant impact” for a country of India’s size and strength, his push at the latest round of the TPF came as a surprise for those exporters who used to benefit vastly from these privileges.

Established under the US Trade Act of 1974, GSP currently benefits around 119 countries through preferential duty-free treatment. India used to receive benefits worth $6 billion on 2,167 products before it was removed from the preferential list.

MK Stalin, the Chief Minister of Tamil Nadu, has now pressed the Union Textiles Minister on the issue. In a letter to Piyush Goyal, he stated that the current crisis has resulted in a large number of export orders being canceled and difficulties in meeting long-term export obligations.

"If this scenario does not improve, a considerable number of garment and home textile units may become unprofitable in the near future, resulting in closure and widespread unemployment and industrial discontent."

According to my understanding, one of the main causes of cotton price volatility is the imposition of a 5% Basic Customs Duty (BCD), a 5% Agriculture Infrastructure Development Cess (AIDC), and a 10% Social Welfare Cess on these components in the Union Budget 2021-22, resulting in overall import duty of 11%.

Another factor driving up cotton prices is the Cotton Corporation of India's (CCI) bulk discount to traders who "purchased nearly 70% of MSP cotton auctioned by CCI at a lower rate during the cotton season due to the availability of a 90-day free period and thereafter speculated the market," according to the letter. He asked the Textiles Minister to instruct the relevant ministries to act and adopt policy measures to correct the situation, defend the textile sector, and avoid job losses.

To avoid more speculation in the future months, he advocated the abolition of the 11% import tariff on cotton, as well as a rethink of the CCI's commercial terms and conditions for e-auction of cotton by lowering the minimum lot size to 500 bales, which is sustainable for MSMEs.

Furthermore, yarn makers may be granted preference over dealers in the acquisition of cotton. The CM also advocated the extension of a 5% interest subsidy to spinning mills for cotton procurement during peak season (December to March).

THE NEWS MOTION (The news article has not been edited by DFU Publications staff)

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2. Consumers will determine growth of sustainable fashion e-comm in India
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4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22
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26 November 2021, Mumbai:

Madurai MP Su Venkatesan has written to minister Plyush Goyal to bring down cotton and your prices s time for an effective intervention from the Centre to stablise cotton prices.

The government cannot evade it's responsibility, leaving the textile industry to suffer. The government policies have also contributed to the current crisis. He said the Cotton Corporation of India should take the responsibility to stabilize the cotton price and supply to the spinning mills at a fair price.

PMK founder S Ramadoss said it was the duty of the central and state governments to protect the interests of the workers of the garment industry by addressing the yarn price rise issue.

As an interim measure, he said, the Centre should ban cotton and yarn exports which would arrest the shortage and ensure availability to domestic players. As a permanent solution, he said, the government should encourage cotton cultivation by providing incentives.

The TN government should form a state cotton corporation to procure cotton grown here and spin yarn.

AMMK leader TTV Dhinakaran tweeted expressing solidarity with Tirupur garment manufacturers and urged the Centre to bring down the prices.

TOI (The news article has not been edited by DFU Publications staff)

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1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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25 November 2021, Mumbai:

KPR Mill Limited, a major textile firm situated in Coimbatore, has successfully launched its new garment plant in Chengapally, Tirupur. This plant has a production capacity of 42 million garments per year.

With the addition of this plant, the company's overall apparel production capacity will rise to 157 million garments per year. "Strategic planning has always driven the growth of KPR," the business said, "and we anticipate that this expansion will position us to meet expanding market possibilities and boost KPR's bright future."

Last year, the business announced plans to invest Rs. 250 crore in a new textile plant. KPR Mill is one of India's most well-known vertically integrated garment manufacturers.

In the quarter ended September 2021, the company's net profit increased by 115.23 percent to Rs. 2,422.2 million, compared to Rs. 1,125.4 million in the previous quarter ended September 2020. In the quarter ending September 2021, sales increased by 27.39 percent to Rs. 11,539.7 million, up from Rs. 9,058.5 million the previous year.

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TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

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30th November 2021, Mumbai:

India is considering a new investment of Rs. 19,000 crore (the US $ 2.5 billion) in the textile business, according to Minister of State for Textiles Darshana V. Jardosh.

The Minister said that the textile industry will showcase India's rich cultural heritage during the week and deliberate on key initiatives taken by the government to create an ecosystem for the country to become a preferred sourcing partner for textile and clothing in its message for the 'Textile Week' at the Indian Pavilion in Expo2020.

"Today's Indian textiles not only recall the gilded past but also serve the needs of the modern world." "With a big raw material base and manufacturing strength across the value chain, India's textile sector is one of the world's largest," she said.

"Despite a decline in total trade of the textile & apparel sector during 2020-21," Vijoy Kumar Singh, Additional Secretary, Ministry of Textile (MoT), said at the event, "growth in textile and apparel trade reflected an encouraging trend in 2021-22 (April-September) with an increase of 69 percent, and the same stood at the US $ 24 billion."

"The textiles and clothing business in India has enormous growth potential. "We're concentrating on talent development, financial support, and merging the industry with cutting-edge technology," he stated. "The goal is to attract fresh investment of Rs. 19,000 crore and generate an extra 0.75 million direct employment in the textile sector in the coming years," said Jay Karan Singh, Trade Advisor, Ministry of Textiles.

It's worth noting that the government is gearing up to encourage investment in the textile sector with newly announced key initiatives like PLI and MITRA. MoT officials and industry stakeholders underlined Dubai's position as a fantastic platform for the Indian textile sector to target the Middle East and North Africa (MENA) markets and beyond at a global investor summit held as part of the ongoing 'Textile Week' at the India Pavilion in Expo 2020 Dubai.

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Daily News:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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25 November 2021, Mumbai:

India will pitch for becoming the preferred sourcing partner for the global textile industry during the textile week at the India Pavilion in EXPO2020, at Dubai, starting on Friday, the 26th Nov 2021.

Minister of State for Textile & Railways, Smt. Darshana V Jardosh will inaugurate the ‘Textile Week’ virtually and is slated to invite global investors to invest in the Indian textile value chain and make it a preferred sourcing partner.

Talking about the upcoming textile week (26th Nov – 2nd Dec), Smt. Jardosh said, “Indian textile is world-renowned as it not only represents the country's glittering past but also matches up to the demands of the modern times.

India is the world’s second-largest exporter of textile and clothing and focuses on both quality and scale of production to become the global manufacturing hub and represents an immense opportunity for global investors and buyers.”

The ‘Textile Week’ at India Pavilion will see many activities including roundtable discussions on India as a sourcing and investment destination for textiles along with the production linked incentive (PLI) scheme.

Interestingly, India is recognized as one of the best sourcing destinations for garments, textiles & accessories. Textile share in India’s GDP is estimated at around 2.3% and is the largest employer, employing about 45 million workers. India’s FDI policy is recognized as the most liberal in emerging economies, which allows 100% investment under the automatic route in the entire textile value chain.

Union Minister for Commerce and Industry, Textiles, Consumer Affairs, Food and Public Distribution, Shri Piyush Goyal has urged the textile industry ‘to focus on speed, skill and scale and get into innovative partnerships.’

The government has also recently approved a PLI scheme worth ₹10,683 for domestic technical textiles firms, and manufacturers of fabrics and apparel in the man-made fibre segment.

A high-level delegation led by Shri Vijoy Kumar Singh, Additional Secretary, Ministry of Textiles will be meeting global business federations along with various industry chambers during the ‘Textile Week’ to explore potential business tie-ups through investor connect programmes. These meetings will also see participation from Shri Jay Karan Singh, Trade Advisor, Ministry of Textiles, Dr. A Sakthivel, Chairman, Apparel Export Promotion Council, Shri Chandrasekaran Thuvarapalayam Visvanathan, Chairman, Handloom Export Promotion Council, Shri Dhiraj Rai Chand Shah, Chairman, Synthetic & Rayon Textiles Export Promotion Council, Shri M.A Ramasamy, Chairman, Powerloom Development & Export Promotion Council, Shri Umar Hameed, Chairman, Carpet Export Promotion Council, Shri Sanjeev Dhir, Chairman, Wool & Woollens Export Promotion Council, Shri Naresh Kumar Sadh, Chairman, Indian Silk Export Promotion Council, Shri Prem Malik, Past Chairman, Cotton Textiles Export Promotion Council & CITI and Vice Chairman, NSL Textiles Ltd., Mr T. Raj Kumar, Chairman, CITI, Shri Siddharth Lohariwal, Vice-Chairman, Jute Products Development & Export Promotion Council & Shri Rakesh Kumar Verma, Executive Director, Export Promotion Council for Handicrafts and other industry stalwarts.

PIB

(The news article has not been edited by DFU Publications staff)

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TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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30th November 2021, Mumbai:

Sutlej Textiles and Industries Ltd., India's largest textile manufacturer, has added another feather to its crown by pursuing backward integration and launching recycled polyester fiber production in Baddi (Himachal Pradesh).

At this facility, the company produces 'Green Fibre,' which is made from recycled PET bottles. This plant (Birla Textile Mills) has the capacity to manufacture 120 metric tonnes of green fibers per day.

The inaugural event of the Sutlej Green Fibre unit was attended by Jai Ram Thakur, Chief Minister of Himachal Pradesh; Chandra Shekhar Nopany, Chairman; Updeep Singh, President & CEO; Rajeev Gupta, Executive President; and many more. Jai Ram Thakur complimented the firm on the initiative and offered the textile sector the state of his complete support.

Sutlej Textiles' Executive Chairman, Chandrashekhar Nopani, stated that the Group's second plant in Baddi will generate 120 metric tonnes of polyester and that the two operations would employ around 3,200 people.

"We have invested Rs. 239 crore in this project," said Rajeev Gupta, the company's Executive President, "and it will allow us to have greater control over quality and will have assured supply."

He went on to say that, depending on demand, over 80% of the fiber generated in this factory will be used in-house. "Every day, we transform 70 lakh PET bottles into polyester, contributing to sustainability," he added.

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Daily News:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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