06 September 2023, Mumbai
Beaulieu International Group will showcase its latest sustainable geotextile solutions at the 12th ICG Rome from 18th to 21st September 2023.
Sustainability journey
The company offers PP-based staple fibres and woven geotextiles with a low carbon footprint, as well as new filtration geotextiles with monofilament.
Beaulieu is committed to sustainability and is working towards a zero environmental footprint by 2030.
05 September 2023, Mumbai
Date: November 4-6, 2023
Location: Keqiao, China
Theme: Digitalization & Circularity – Megatrends Shaping the Textile Industry
Speakers: International industry experts from around the world
Topics:
Awards: ITMF Start-up Awards 2023, ITMF Sustainability & Innovation Awards 2023, ITMF International Collaboration Awards 2023
Co-located events: 10th Belt & Road Textile Conference 2023, 6th World Textile Merchandising Conference 2023.
24 August 2023, Mumbai
The partnership aims to boost My Trident's market presence in India. Kareena Kapoor Khan is excited about the partnership. She loves My Trident's products, which are stylish and well-made.
Trident Group is excited about the partnership as it is considered by the management a perfect fit for the My Trident brand because Kareena Kapoor Khan is stylish, talented, and down-to-earth.
Background
My Trident is a rapidly growing brand with over 3,500 retail touchpoints in India. The company is hoping that the partnership with Kareena Kapoor Khan will help them reach even more customers.
The Hindustan Chamber of Commerce (HCC) is set to host the "ASIATEX 2023" Textile Trade Fair from August 31 to September 2, 2023, at Mumbai's JIO World Convention Centre, BKC.
5th edition of B2B fair
The 5th edition of this B2B Fair marks a significant milestone for HCC, celebrating its 125-year journey. The fair will comprise 125 stalls, representing major textile hubs like Mumbai, Bhiwandi, Surat, Ichalkaranji, Bhilwara, and Ahmedabad.
A multifaceted display
The event will showcase an extensive array of textile products, including yarns, fabrics, technical textiles, home textiles, and more, predominantly by manufacturers and exporters. The fair anticipates a footfall of over 15,000 visitors across three days.
02 September 2023, Mumbai
The International Cotton Advisory Committee (ICAC) is hosting its 81st Plenary Meeting in Mumbai, India from December 2-5, 2023. The theme of the meeting is "Cotton Value Chain: Local Innovations for Global Prosperity."
Cotton Industry's Challenges and Opportunities
The meeting is expected to draw about 500 senior government officials, researchers, and private-sector professionals from all sectors of the global cotton and textile value chains. Expert speakers will share their insights on the industry's greatest challenges and opportunities, including:
Consultative
The meeting is a unique opportunity for governments and other partners to gain a better understanding of the most pressing issues facing the cotton and textile industry.
It is also an opportunity to develop global initiatives to support cotton value chains, address outstanding issues, and agree on global strategies to advance the interests of all stakeholders.
23 August 2023, Mumbai
IntroductionThe 11th Asian Textile Conference (ATEXCON) will be held on August 31-September 1, 2023 in Coimbatore, Tamil Nadu, India.
The theme of the conference is "2025 & Beyond Asia's Global Hub for Textile Manufacturing & Consumers".Over 400 delegates from the global textile and apparel value chain are expected to attend.
Conclusion
The 11th ATEXCON is a major event for the Asian textile industry. It will provide a platform for industry leaders to discuss the challenges and opportunities facing the sector in the years to come.
18 August 2023, Mumbai
Garware Technical Fibres Ltd. reports strong Q1 FY24 results
Management commentary:
29 August 2023, Mumbai
The Textile Ministry's recent proposal to introduce a Production Linked Incentive (PLI) plan tailored for the garment and made-ups sector seems to have hit a roadblock, as per insider information.
Focal point
The focus of this proposed plan was to support the country's garment manufacturers by offering incentives.
However, the Finance Ministry's reported rejection has caused a setback. The proposal aimed to extend the PLI scheme to encompass all materials, but the Finance Ministry apparently resisted lowering the investment and turnover limits as suggested by the Textile Ministry.
Efforts by the Textile Ministry to expand the successful Production Linked Incentive (PLI) scheme to include the garment and made-up sector have been met with resistance from the Finance Ministry. The original scheme had bolstered various industries, and the Textile Ministry sought similar benefits for garment manufacturers.
The secret lies in making investments happen
However, the Finance Ministry's reluctance to reduce the investment and turnover thresholds has led to a standstill. The proposed extension aimed to encompass all materials, including cotton, but disagreement over criteria persists.
In a bid to attract more investment, the Textiles Ministry has extended the deadline for investor applications until August 31, 2023. The ministry is confident that this move, coupled with the recent flexibility introduced in the criteria for the original PLI plan, will lead to increased interest.
Despite setbacks in expanding the scheme to garments and made-ups, the Textiles Ministry remains proactive in fine-tuning its approach to incentivize the textile sector's growth.
The Textile Ministry's attempts to revamp the PLI scheme have encountered obstacles due to varying perspectives within the government.
Dithering; While the ministry aimed to expand the successful incentive program to benefit the garment and made-up sector, the Finance Ministry's concerns about altering investment and turnover criteria led to a stalemate.
The Textile Ministry's decision to extend the investor application deadline showcases its determination to drive textile industry growth through strategic modifications while navigating bureaucratic complexities.
22 August 2023, Mumbai
Conclusion
The Indian textile industry is facing a number of challenges, including fluctuating cotton prices and an 11% import duty on cotton.
The government has taken some steps to address these challenges, but more needs to be done.
The textile industry is a major contributor to the Indian economy, and it is important to take steps to ensure its long-term growth and competitiveness.
17 August 2023, Mumbai
Textile major Donear Suitings has partnered with clothing retailer French Crown to launch a luxury suiting brand called "The Suited Saint."
Tie-Up
The partnership seeks to penetrate global markets, offering products priced at USD 500 and above. The brand's launch is scheduled for mid-September this year.
Donear has indicated to invest INR 30 crore over the upcoming 2-3 years, supplying fabric on a 90-day credit for manufacturing.
Contours
French Crown will oversee research, manufacturing, retail, and distribution, establishing a manufacturing facility and R&D unit in Surat.
International experts will guide the brand to cater to diverse trends and customer preferences.
French Crown
It currently garners 35% of revenue domestically and 65% internationally across 90+ countries, with the US contributing 60% of sales and the remainder from the UK, Canada, Australia, the Middle East, and others.
Vision; The company aims to reach INR 110 crore in revenue for FY24, building upon its annualized run rate of INR 100 crore.
25 August 2023, Mumbai
The textile and apparel industry is grappling with a decline in exports and a significant loss of jobs.
Government Response: The Indian government is considering providing fiscal incentives to the industry by the end of the year.
PLI Program: The incentives could be channeled through the production-linked incentive (PLI) program, which has been designed to inject financial support into various manufacturing sectors.
Industry Request: The industry has requested that the government provide incentives specifically aimed at smaller manufacturers and reconsider the 11% import duty on certain varieties of cotton.
Concerns: The industry is concerned about potential job losses and is urging the government to take comprehensive measures to support the sector.
22 August 2023, Mumbai
MyTrident, the flagship domestic home furnishing brand of Trident Group, a USD 2 billion conglomerate, unveiled its Fall-Winter'23 collection yesterday at Andaz, Aerocity, New Delhi.
The 5-day meet was inaugurated by Dr. Rajinder Gupta, Chairman Emeritus of Trident Group, in the presence of over 3,000 retailers.
The brand offers a unique and seamless online shopping experience through myTrident.com and intends to leave an indomitable mark across retail touchpoints including EBOs, multi-brand stores, general trade, etc. MyTrident aims to cross a revenue of INR 1,000 crores by FY 2025-26.
Background
Starting its journey in India in 2014, MyTrident is today amongst the leading brands in home furnishing across home and HORECA in India.
Its growth has been driven by doubling the point of sales, adding new categories, and diversifying the range based on the evolving needs of the consumers.
Currently, the company has a retail network of 3,500+ retail touchpoints including 50 exclusive stores across India.
Speaking about the expansion plans, Dr. Rajinder Gupta said, "At MyTrident, we are bullish about the company's prospects which include ramping up our retail business operations across India.
Vision
Our ambition is encapsulated in our slogan 'ghargharmeinMyTrident' to offer accessible luxury to every Indian household. We are building on the trust and respect enjoyed by the company over 30 years.
We are The company plans to aggressively expand to 10,000+ retail touchpoints including 100 exclusive stores by the end of FY2025-26. We remain committed to offering unparalleled quality and a seamless shopping experience to our consumers."
The event also saw the launch of The Good Paper's new copier packaging and notebook designs.
Lineage
The Fall-Winter'23 collection from MyTrident is inspired by the rich heritage and culture of India. The collection features a wide range of products, including bed linen, towels, curtains, rugs, and home décor items.
The products are made from high-quality materials and are available in a variety of colors and designs to suit every taste.
The collection has been well-received by retailers and is expected to be a hit with consumers. MyTrident is confident that the collection will help the brand achieve its ambitious growth goals.
14 August 2023, Mumbai
Prime Minister Narendra Modi inaugurated the 'Bhartiya Vastraevam ShilpKosh – A Repository of Textiles and Crafts' e-portal on National Handloom Day in New Delhi.
Unity in diversity: showcasing India's textiles
Developed by the National Institute of Fashion Technology (NIFT) in collaboration with the Ministry of Textiles, the portal unifies India's diverse clothing heritage. It provides a comprehensive platform for various clothing traditions to coexist.
Preserving cultural heritage
Addressing the audience, PM Modi highlighted the portal's role in preserving India's vibrant cultural heritage. He expressed satisfaction in seeing his concept of consolidating India's clothing diversity materialize.
Resource for exploration
The e-portal, a valuable resource, encompasses a craft atlas, cultural artifacts, and a visual museum. It is designed to aid individuals interested in understanding India's rich clothing traditions.
Khadi and village industries flourish
PM Modi shared the success of the khadi and village industries, boasting a turnover of over Rs 1.3 lakh crore, a substantial rise from Rs 30,000 crore a decade earlier.
Vocal for Local: A mass movement
He credited the 'Vocal for Local' ethos for this transformation, where citizens wholeheartedly embraced indigenous products, turning it into a mass movement.
Fostering cottage industries and handlooms
The Prime Minister elaborated on governmental initiatives fostering cottage industries and handlooms. These included the 'One District One Product' scheme, the Government e-Marketplace, the Mudra Yojana, and skill training programs.
