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Cotton arrivals in October recorded at 31.12 L bales: The Cotton Association of India (CAI)

24 November 2021, Mumbai:

The organisation has retained its earlier projection of crop yield for the season beginning October 1, 2021, at 360.13 lakh bales, up by 7 lakh bales from 353 lakh bales estimated for the previous year.

The Cotton Association of India (CAI) on Tuesday stated that cotton arrivals in the first month of the season stood at 31.12 lakh bales (170 kg each), up by about 15 % from 27.16 lakh bales recorded in the same month last year.

Cotton Association of India
The organisation has retained its earlier projection of crop yield for the season beginning October 1, 2021, at 360.13 lakh bales, up by 7 lakh bales from 353 lakh bales estimated for the previous year.

During October, the total cotton supply, including the arrivals of 31.12 lakh bales, is estimated at 107.12 lakh. It includes imports of 1 lakh bales and also the opening stock of 75 lakh on October 1. On the other hand, the CAI has estimated cotton consumption during October at 27.91 lakh bales with export shipments of 4 lakh. Financial Express

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

Cotton arrivals in October recorded at 31.12 L bales: CAI - The Financial  Express

 

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Cotton arrivals in October recorded at 31.12 L bales: The Cotton Association of India (CAI)

GST notification to correct textiles tax anomaly: Nirmala Sitharaman

24 November 2021, Mumbai:

Finance Minister Nirmala Sitharaman on Tuesday said the recent government notification on uniform goods and services tax (GST) at 12 percent for the textile and apparel sector was aimed at correcting the inverted duty structure that was leading to the accumulation of input tax credit by companies.

Claiming Input Tax Credit under GST Regime

She did not subscribe to the industry’s fears that this would lead to higher prices of finished products. “Every time adjustments in rates do not lead to the price increase for customers.

A higher rate on inputs was leading to higher refunds to taxpayers and needed correction.

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

GST Council to fix inverted duty anomaly soon - Hindustan Times

 

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

 

TOP 5:

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

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GST notification to correct textiles tax anomaly: Nirmala Sitharaman

Mirabai's community receives a massive handloom cluster

23 November 2021, Mumbai:

Piyush Goyal, the Union Minister of Textiles, has announced the establishment of a mammoth handloom cluster in Saikohm Mirabai Chanu's home hamlet in Manipur's Imphal East district.

The Union Minister, who was in Imphal for a two-day visit, also announced the establishment of a handloom and handicraft village in Moirang in Bishnupur district, were the INA flew the tricolor flag for the first time on Indian soil.

It would, among other things, pay proper honor to the liberation warriors, notably the INA soldiers, he stated. At the City Convention Centre in Imphal, the Minister launched a Thematic Exhibition of Crafts organized jointly by the Manipur Government's Development Commissioner (Handicraft) and the Union Ministry of Textiles.

Integrated Textile Park added a... - Integrated Textile Park

The Minister stated that his Ministry has decided to establish a mega handloom cluster in Nongpok Kakching, the hometown of Olympic silver medalist Saikhom Mirabai Chanu, as a tribute to her contribution to the nation as well as Manipur's contribution to the country's handloom and handicraft productions.

Ministry of Youth Affairs and Sports Mirabai Chanu given a hero's welcome  on her return to India Chanu's medal on the opening day has inspired the  entire nation: Sports Minister Shri Anurag Thakur "Mirabai Chanu will  inspire a generation of athletes, even ...

The mega cluster is being built at a cost of Rs 30 crore by the Ministry of Textile as part of the National Handloom Development Programme (NHDP). Manipur's textile products, according to the Minister, are well-known not only in the country but also throughout the world.

"With this in mind, his Ministry has been working hard to grow the industry so that it can help India become a powerhouse," he added.

During his visit, the Minister also convened a Textiles Consultative Committee in Imphal. The committee examined effective strategies to boost the domestic textiles sector by giving strong support to stakeholders in order to make India the centre of textile, with the growth of the silk industry on the agenda. UP Singh, the Secretary of the Ministry of Transport, joined him on this trip.

 

Mirabai Chanu's Medal-Winning Smile Hides a Story of Years of Struggle

 

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Mirabai's community receives a massive handloom cluster

Vishal Fabrics aims in coming 2 years to touch Rs 2,000 cr top-line

22 November 2021, Mumbai:

The Ahmedabad-based company is also encouraged by the two "exceptional quarters in the first half of this fiscal, in which it has crossed a top-line of Rs 697 crore, said Vishal Fabrics CFO Vinay Thadani.

textile industry Archives | SME Futures

Denim maker Vishal Fabrics aims for a Rs 2,000 crore top-line in the next two fiscals, helped by expansion in the domestic market led by increasing adaptability of denim and exports, where it is exploring new markets across other geographies, said a top company official Vishal Fabrics is also investing in the expansion of its current capacity to increase denim production, which will help it to cater for the creasing domestic demand as well as the new exports market.

The Ahmedabad-based company is also encouraged by the two exceptional quarters in the first half of this fiscal, in which it has cressed a top-line of Rs 597 crore, said Vishal Fabrics CFO Vinay Thadani.

Like other companies Vishal Fatines part of Rs 10,000 crare conglomerate

Chimpal Group had taken a hit in severe in the pandemic impacted FY21 but has not recovered. ET

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

Board Members | Vishal Fabrics Limited.

 

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Vishal Fabrics aims in coming 2 years to touch Rs 2,000 cr top-line

Trident Brand Studio wins big at IBDA, bags India’s 'best in-house design studio'

23 November 2021, Mumbai:

Alina Wheeler once said, “ Design is intelligence made visible,” and we couldn’t agree more. Celebrating the best, most creative, well-managed and professional design projects and teams of India is IBDA or India’s Best Design Awards. And Trident Group’s in-house Brand Studio has been awarded ‘India’s Best In-House Design Studio’ at this authentic design show.
Trident Brand Studio wins big at IBDA, bags India's best in-house design  studio - The Economic Times

Trident Limited (NSE: TRIDENT; BSE: 521064) is the flagship company of Trident Group, a $3 billion Indian business conglomerate and a global player. Headquartered in Ludhiana, Punjab, Trident Limited is a vertically integrated textile (yarn, bath & bed linen), paper (wheat straw-based) and chemical manufacturer with a captive power generation facility.

Trident Ltd Group | Products - IndianCompanies.in

It is also one of the largest players in home textiles globally. In recent times, the company has forayed into detergent and notebooks segments as well. 

The IBDA jury comprised of 24 esteemed members, including senior professors of NID, IIT Bombay, and International Design College among other veteran design professionals. And they have collectively adjudged Trident Group’s in-house Brand Studio as ‘India’s Best In-House Design Studio’. ET

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

India's Best Design Awards 2020

 

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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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Trident Brand Studio wins big at IBDA, bags India’s 'best in-house design studio'

Raymond Group set to rejig businesses

The Raymond Group, with interests in textiles, apparel, and realty, is working toward reorganising its businesses into five core revenue streams, deploying professional boards to raise growth capital in the future.

Founded in 1925, Raymond Group will have five focused business areas including textile, fast-moving consumer goods, real estate, education, and engineering.

Home | Raymond

"All our boards will be completely professional in the next 12 months. Our FMCG and manufacturing companies have already done that," said Gautam Hari Singhania, chairman of the group, in an exclusive interaction with ET.

Gautam Singhania: Raymond boss Gautam Singhania to exit all group companies

"When you have an independent company with professional boards, you can do so many things including attracting private equity, going to the public by way of listing or you can exercise any other option available with you to create value for shareholders at the right time." ET

(The news article has not been edited by DFU Publications staff)
 
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Raymond Group set to rejig businesses

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