21st October 2021, Mumbai:

The Mumbai Textile Merchants' Mahajan (MTMM) will host a B2B Fabric Fair in Hotel Sahara Star on the 10th and 11th of January 2022. The event will have 180 booths with various types of new textiles. The President of MTMM, Kanubhai P. Narsana, stated that the trade group intends to host two such fairs each year.

The exhibition will feature a wide selection of textiles for formals, casuals, ethnic, kidswear, shirting, suiting, dress materials, as well as a large choice of dhotis and sarees, according to a news release from MTMM.

A wide selection of cotton textiles, polyester fabrics, mixed fabrics, art silk fabrics, and silk in a never-before-seen spectrum of coloured, printed, and other value addition will also be available. These textiles will symbolise the evolving fashion scene in Mumbai, which is known as India's fashion hub.

Traders, clothing makers, retailers, fashion designers, buying agent houses, importers, and exporters will be able to attend the event for free. According to the organisers, about 10,000 trade visitors are expected throughout the course of the two days of the exhibition.

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18th October 2021, Mumbai:

SVP Global Ventures Ltd., a Mumbai-based major cotton manufacturer, recorded a net profit of Rs. 40.85 crore for the second fiscal year ended September 2021, up from Rs. 10.75 crore in the second fiscal year ending September 2021, a 280 percent increase.

In a statement, the textile giant said that EBITDA (Earnings Before Interest Tax Depreciation and Amortization) for Q2FY22 was Rs. 93.06 crore (EBITDA margin 23.18%), up from Rs. 57.63 crore (EBITDA margin 15.83%) in Q2FY21, representing a 61 percent increase.

The Q2FY22 income from operations was reported at Rs. 405.74 crore, up 9% from the previous fiscal's same-period income from operations of Rs. 372.28 crore.

SV Pittie Sohar Textiles, an SVP Global company, began commercial operations on 15 August 2021 at its mammoth textile facility in the Sohar Free Trade Zone in Oman.

"Company's success during the quarter has been very exceptional across all segments on the basis of rising volumes, robust order book, and new products," stated Major General OP Gulia, SM, VSM (Retired), CEO, SVP Global Ventures Ltd. The expansion in Oman is complete, and it has begun to contribute to the Group's financial performance.

Our strategic growth initiatives, such as increased capacity and operational efficiencies, as well as product and geographic expansion with a focus on high margin products, such as compact cotton, are expected to drive profitability, contribute to the company's growth, and increase value for our stakeholders."

The firm had a net profit of Rs. 80.04 crore during the six months ending September 2021. (PAT margin 10.18 per cent).

The H1FY22 income from operations was Rs. 817.60 crore, up 73 percent over the previous fiscal's same-period income from operations of Rs. 472.08 crore. EBITDA for the first half of FY22 was Rs. 184.45 crore (EBITDA margin 23.46 per cent).

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19th October 2021, Mumbai:

Sangam India’s total income for its second quarter ended September 30, 20 increased to Rs 642.20 crore from Rs 313.29 crore in the corresponding quarter of the previous year (YoY) and Rs 412.95 crore in the previous quarter (QoQ).

As per Equity Bulls, the company's net profit increased to Rs 29.87 crore from a loss of 4.24 crore in the corresponding quarter of the previous year (YoY) and a profit of Rs 12.89 crore in the previous quarter (QoQ).

The company's Earnings Per Share (EPS) increased to Rs 6.88, against Rs -1.08 in the corresponding quarter of the previous year (YoY) and Rs 2.97 in the previous quarter (QoQ).

For the six months period ended September 30, 2021, SangamIndia’s total income increased to Rs 1,055.15 crore, against Rs 423.46 crore in the previous year (YoY) (Half Year Ended FY 2021).

The company’s net profit increased to Rs 42.76 crore for the six months period ended September 30, 2021, compared to Rs -36.76 crore in the previous year (YoY).

Its Earnings Per Share increased to Rs 9.85 for the six months period ended September 30, 2021, against Rs-9.32 in the previous year (YoY)

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18th October 2021, Mumbai:

The process is meant to mull at exploring spurring ambitiously investments of about Rs 95,000 crore within the textile and attire sector by FY22 and create 3.5 million new jobs as per sources.

This warrants the focus from top authorities as this would mean both top-level planning conviction to kicking a major revamp of both its flagship incentive scheme for capital investments in addition to within the textile and garment sector aiming at improving its efficiency and by proper alignment of it to recently-launched series of measures/ programmes such as production-linked incentive (PLI) scheme and mega parks (MITRA) etc.

While notifying the Amended Technology Upgradation Fund Scheme (ATUFS) was notified in January 2016, and central government had allocated an outlay of Rs 17,822 crore (Rs 12,671 crore for clearing pending claims underneath the scheme’s earlier avatars and Rs 5,151 crore for implementing the ATUFS) till FY22.

To be mentioned here the underlying scheme is meant to mobilise contemporary investments of about Rs 95,000 crore within the textile and allied sector by FY22 and has the potential of creating in turn 3.5 million new jobs.

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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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19th October 2021, Mumbai:

Trident Group, India's biggest textile and home furnishings conglomerate, continues to set new records. The firm installed a 7.6 MW solar power plant in Budhni, Madhya Pradesh, for captive use. The facility is planned to produce 33,500 units per day, which will be used in the company's production facilities in Budhni, resulting in significant cost savings.

Trident's terry towel production factory, which is one of the world's largest and most advanced, is located in Budhni.

“We have always been and will continue to be devoted to a better and cleaner environment. Every day, we aim to do our part to guarantee a healthy world for ourselves and future generations.

The successful commissioning of our first solar power plant for captive use strengthens the Group's commitment to sustainable manufacturing, according to Rajinder Gupta, Chairman.

Trident Foundation, the Group's charitable arm, was also established. The Trident Foundation's website, Tridentfoundation.org, was launched.

The website is user-friendly and accessible to everyone. Anyone who desires to volunteer and lend a hand is welcome to do so. Extending a helping hand through physical labour, known as 'Shramdaan,' as well as monetary or in-kind donations, may all be done on the website.

Trident Foundation strives to promote education, improved livelihood, sanitation, and women empowerment for marginalised parts of society via programmes such as diversity and inclusion, education and skill development, healthcare, and many more.

"With Trident Foundation, we are driving all of our endeavors to make a difference in the community," stated Madhu Gupta, Chairperson of Trident Foundation. It's a step toward ensuring that the basic rights of health, education, and work are available to those who most need them." Another achievement is that the Group now has over one million stockholders.

"We want to not only meet but also exceed the expectations of our valued shareholders," Rajinder Gupta stated. Our goal is to continue to add value to everyone who works with us.”

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

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15th October 2021, Mumbai:

This Birla Group Company easily attributes the strong going both to higher operating efficiency achieved and external tailwind it is seeing on the back of sentiment turnaround.

It is interesting to mention here that despite the catastrophic second wave battering economic activities, Century Textiles & Industries has reported an impressive net income of Rs 54 crore and a revenue of Rs 998 crore on a standalone basis in Q2 earnings.

Interestingly the pulp and paper vertical experienced arguably the best-ever quarter in terms of production and sales owing to incremental volume from value-added products and a curated basket of products.

The robust rebound has come on the back of the fact that demand tailwind from the local market, alongside the real estate sector, has evinced a strong response to Kalyan project in its existing phase-II launch.

The enormous turnaround in its textile business where the plants operating are reportedly running at 91 percent capacity v/s 68% in a corresponding year and sales healthily grew 109% v/s preceding year is a supportive difference.

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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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18th October 2021, Mumbai:

India's Ministry of Textiles has stated that the country's textile and garment exports have the potential to reach the US $ 100 billion. This appears to be a far-fetched aim without a clear plan and implementation.

Team Apparel Resources has outlined a comprehensive roadmap to recommend to the Indian sector the product categories and nations that the country should target, as well as certain government measures to increase exports.

Since Piyush Goyal became Minister of Textiles in India, he has been very proactive, and in a recent meeting with the country's top textile and garment exporters, he asked them to aim for a US $ 100 billion figure in textile and apparel exports, up from the current export value of US $ 33 billion, which is almost three times more!

Despite the fact that the goal expectation is high and no time frame has been set, the industry thinks that the number may be met in the near future with a clear roadmap to capitalise on global trade possibilities.

While India's clothing and textile exports have been on a downward trend for the past three years, the start of 2021 has been fantastic. According to OTEXA, India's textile and apparel exports to the United States, its single largest market, increased 54.58 percent in the first seven months of 2021.

This is the fastest-growing of the top five countries exporting textiles and apparel to the United States. In 2021, the other four top destinations – Vietnam (increase 17.60%), Bangladesh (up 29.19%), China (up 27.95%), and Mexico (up 31.12%) – remained in second place after India.

Despite having a well-developed domestic textile supply chain, India has been overtaken by competitors like Vietnam, Bangladesh, China, and Mexico, which have grown considerably quicker in major markets such as the United States and the European Union.

However, based on the above-mentioned data, 2021 has witnessed a reversal of this tendency, notably in the US market. Higher export order booking for apparel and a big consolidation in the home textile category, where India has historically been a prominent participant, are two factors mentioned by the industry for this promising result.

The country may be able to stay afloat in 2021 thanks to less severe lockdown restrictions in the country's export hubs, particularly in southern states like Tamil Nadu and Karnataka, during the second COVID-19 wave, which did not have a significant impact on business activity in the April-June '21 quarter.

Is this, however, a long-term trend? No, not until the industry is completely revitalised from the ground up.

While officials at the Ministry of Commerce and Industry have consistently maintained their stance on duty remission schemes such as RoDTEP (Remission of Duties and Taxes on Exported Products) and RoSCTL (Rebate of State and Central Taxes and Levies) that have aided exporters in the garments and textiles sector, stakeholders have consistently expressed their concerns about tax rebate schemes that have been delayed and have provided lower-than-expected benefits.

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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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15th October 2021, Mumbai:

ABFRL has become the first Indian apparel brand to join the ZHDC Foundation This collaboration will strengthen the efforts of ZDHC South Asia Region’s outreach to the domestic textile industry in India.

ABFRL hopes that this collaboration will act as a pivot in transforming their value chain to deliver sustainable fashion beyond traditional approaches and help in reducing the chemical footprint and deliver safe products.

ABFRL is India’s first billion-dollar pure-play fashion powerhouse with an elegant bouquet of leading fashion brands and retail formats. The company has a network of 3,212 stores across approximately 31,000 multi-brand outlets with 6,800+ points of sales in department stores across India (as of 31 March 2021).

It has a repertoire of leading brands such as Louis Philippe, Van Heusen, Allen Solly, and Peter England established now for over 25 years. Pantaloons is one of India’s largest fast-fashion store brands.

The company holds exclusive online and offline rights to the India network of California-based fast fashion brand Forever 21.

Their international brand’s portfolio includes The Collective, India’s largest multi-brand retailer of international brands, Simon Carter, and select mono-brands such as American Eagle, Ralph Lauren, Hackett London, Ted Baker, and Fred Perry.

ABFRL’s participation in the ZDHC program will accelerate sustainable chemical management to a wider stakeholder segment.

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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