25 July 2023, Mumbai

Indian Minister of Textiles, Commerce, and Industry, Piyush Goyal, recently spearheaded a strategic discussion at the Chintan Shivir event, outlining a visionary roadmap to propel India's textile sector to new heights.

Aspirational

The ambitious goal is to achieve $250 billion in textile production and $100 billion in exports by 2030. The event, organized by the Ministry of Textiles on July 18, 2023, brought together officers from all over the country to brainstorm innovative ideas and address the challenges faced by the industry.

An integrated approach is the need of the day

Goyal emphasized the need for an integrated approach, institutional reforms, and out-of-the-box thinking to enhance global competitiveness.

The discussions revolved around five crucial themes: boosting exports, increasing investments, scaling up operations, ensuring sustainability, and transitioning from natural to man-made fibers.

MoT

The event also saw Union Minister of State for Textiles, Darshana Jardosh, stressing the vital role of the textile industry in India's economic growth and calling for collective efforts to nurture growth in all segments of the value chain.

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19 July 2023, Mumbai

Texworld Evolution Paris, in conjunction with Apparel Sourcing, Avantex, and Leatherworld, marked its 25th anniversary with a captivating summer edition from July 3 to 5.

Vibrant Summer Edition

Drawing an impressive 6,800 international visitors, this landmark event showcased a dynamic atmosphere and stunning scenography.

Held at Parc des Expositions, Porte de Versailles, Texworld Evolution Paris garnered acclaim as the textile and clothing industry's largest gathering, boasting 1,350 exhibitors from 27 countries.

In conjunction 

Teaming up with Curve Paris and Interfilière Paris, renowned fairs for lingerie products and accessories, it presented an unparalleled fashion platform in the heart of Paris.

The commemorative edition unveiled a refreshed design and improved visitor experience, including a redesigned T-Club space and captivating new scenography at the entrance, Trend Forum, and Agora.

The addition of a concierge service was well-received by attendees.

France led the visitor count with 18% of visits, followed by Spain, Italy, the United Kingdom, Turkey, and Germany.

Spectacular array

The event showcased diverse product offerings from Asian sourcing zones like China, Korea, and Taiwan, as well as Mediterranean and Indian suppliers. Turkey's presence remained prominent.

Texworld Evolution Paris continues to adapt to global market dynamics, focusing on meeting buyer demands for price, quality, and sustainability. Future plans involve refining manufacturer selection and emphasizing eco-friendly practices.

Highlights

The event also spotlighted emerging sourcing zones, including South African creativity.

The successful summer edition sets high expectations for future Texworld Evolution Paris events, shaping the future of the fashion industry.

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29 July 2023, Mumbai

Arvind Mills reported a consolidated net profit of 658.7 million rupees ($8.04 million) for the quarter ending June 30, down from 984.2 million rupees the previous year.

Soft global textiles demand impact

The decline was primarily attributed to the struggling denim segment, which experienced a 39% drop in revenue due to low price realizations. While expenses reduced by 20.6%, analysts remained cautious about the global textiles demand outlook for the current year.

Optimistic outlook

Arvind remained optimistic about future improvements, aiming to enhance capacities, and sustainability initiatives, and reduce long-term debt.

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22 July 2023, Mumbai

A closer look

The 12th edition of the India Tex Trends Fair took place in Tokyo on July 19, 2023, with Mr. Sibi George, the Indian Ambassador to Japan, gracing the occasion.

The event featured a captivating seminar, 'Textile Industry in India-Collaborative Opportunities,' held on July 20. Dignitaries and representatives from leading brands and retail chains, including Chairman AEPC Mr. Naren Goenka, Vice Chairman AEPC Mr. Sudhir Sekhri, and Chairman F&E Mr. Ashok Rajani, participated enthusiastically.

Boosting India-Japan Collaboration

Ambassador George expressed his delight at the event's organization, a joint effort of the Apparel Export Promotion Council of India and the Japan-India Industry Promotion Association.

This occasion showcased India's finest apparel and textiles while emphasizing the deep-rooted partnership between India and Japan, spanning various areas like trade, investment, technology, and defense.

India's Flourishing Textile Industry

Ambassador George shed light on India's booming textiles and apparel industry, which witnessed exports worth over USD 35.5 billion last year. This thriving industry mirrors India's cultural heritage, technological prowess, and skilled workforce.

Expanding Textile Exports to Japan

Highlighting the untapped potential for expanding textile exports to Japan, Ambassador George mentioned the active cooperation between both governments. A recent Memorandum of Understanding between Japan's Nissenken Quality Evaluation Centre and India's Textiles Committee aims to enhance quality compliance for Japanese buyers.

Investment Opportunities for Japan

The Indian government's Production Linked Incentive Scheme and 11 exclusive Japan Industrial Townships offer attractive opportunities for Japanese investments in India's textile sector.

Promoting Collaboration and Confidence

During the seminar, Dr. Tamanna Chatuurvedi, Deputy Secretary General of the Apparel Export Promotion Council, presented several recommendations, including fostering collaboration between Indian and Japanese designers, exploring opportunities in Japan's uniform market, and establishing QC labs in India to gain the confidence of Japanese buyers.

A Dedicated India Desk in Japan

Ambassador George concluded by proposing the establishment of a dedicated India Desk in Japan, aimed at facilitating sourcing from India and further strengthening the bilateral ties between the two nations.

This initiative is set to herald a new era of collaboration and growth in the textile industry for India and Japan.

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17 July  2023, Mumbai

An upcoming online event organized by NISTI (Regd.)

Date: Saturday, 22nd July 2023 || 5:00- 6:30 pm (IST).

Webinar Theme: Sustainability Trends in Textile Machinery: Impressions from ITMA 2023.

Distinguished Speakers:

1. Shailendra Nigam - DGM (Operations), Jay Jay Mills Perundurai
2. Kamal Misra - Director, Sterling Sales Pvt. Ltd.

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27 July 2023, Mumbai

South India's largest ‘B2B Expo’

The event, spanning three days till July 26, was inaugurated by esteemed Ministers R. Gandhi and S. Muthusamy, alongside MLAs E.V.K.S. Elangovan and A.G. Venkatachalam.

As the biggest B2B expo in South India, this showcase arrives just ahead of the festive season and Deepavali, attracting textile manufacturers and traders from various states.

Showcase of ‘Fashion & Trends’

With over 200 stalls displaying diverse fabrics, fashion, and cutting-edge trends, the event is a magnet for buyers, wholesalers, agents, and merchandisers. Notably, 150 associations have enthusiastically participated, making it a truly comprehensive and must-attend affair.

Must-visit event

The extravaganza will culminate with an enthralling fashion show on Tuesday, promising a delightful experience for all attendees.

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Alok Industries Limited, a prominent player in the industry, has disclosed its consolidated financial results for the quarter ended June 30, 2023.

The company reported a total income of Rs. 1415.66 crores for Q1 FY2024, indicating a decrease from Rs. 1569.72 crores in the previous quarter, a decline of 9.81%.

Amid challenging macro-economics

Despite challenging times, Alok Industries has shown some improvement in its performance as its net loss narrowed to Rs. -226.14 crores in Q1 FY2024, compared to Rs. -297.55 crores in Q4 FY2023, a reduction of 24.00%.

Y-o-Y

On a year-on-year basis, the company's total income declined by 28.93% from Rs. 1992.02 crores in Q1 FY2023 to Rs. 1415.66 crores in Q1 FY2024. However, the net loss increased by 59.73%, from Rs. -141.58 crores to Rs. -226.14 crores.

Share track

Alok Industries' stock traded at Rs. 16.02 on the BSE, with a total turnover of Rs. 18,65,35,270 and 1,170,176 shares traded during the day.

15 July  2023, Mumbai

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25 July 2023, Mumbai

Trident Limited has been granted a significant patent titled "Process of manufacturing a fabric with homogeneous pores" by the European Patent Office.

The patented manufacturing process

This pioneering invention involves the production of Air Rich yarn and fabric with pores distributed evenly throughout the cross-section, resulting in Air Rich towels and fabrics with exceptional qualities.

The novel fabric exhibits high wettability, quick absorbency, and easy dryability, and offers improved insulation by restricting the easy transmission of body heat through the fabric.

With this groundbreaking patent, Trident aims to deliver its innovative Air Rich towels, which outperform traditional fabrics in terms of water absorption and quick drying, to the global market.

Setting a new standard

The towels boast the unique ability to bloom after each wash, retaining their freshness and appearance even after numerous uses. The European Patent Office's recognition of this innovation reaffirms Trident's commitment to producing high-quality, cutting-edge products.

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20 July 2023, Mumbai

Indian Textile Market Skyrockets; Prominent market research firm, IMARC Group, has recently released a report titled "Indian Textile and Apparel Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028."

The report reveals that the Indian textile and apparel market achieved a significant milestone, reaching US$ 172.3 Billion in 2022.

Exciting projections indicate a remarkable growth trajectory, with the market expected to soar to US$ 387.3 Billion by 2028, reflecting an impressive Compound Annual Growth Rate (CAGR) of 14.59% during 2023-2028.

Market Overview:

The Indian textile sector presents a diverse range of materials, encompassing both natural and synthetic fibers, while apparel offers an extensive selection of products such as shirts, pants, dresses, skirts, jackets, hats, shoes, and more, tailored for personal wear.

Expert weavers skillfully utilize various materials like cotton, leather, satin, lace, linen, chiffon, silk, crepe, denim, or blends, enhancing the appeal with intricate embroideries and embellishments.

The manufacturing process involves handlooms or electricity-powered power looms, often accompanied by chemical or polymer coatings to ensure enhanced durability and aesthetics.

Key Trends:

The Indian market experiences a surge in response to consumer preference for affordable and trendy fast fashion. Luxury brands also contribute significantly by incorporating premium fabrics like silk and leather into their footwear, clothing, and accessories. The export of silk, jute, and cotton materials further bolsters the market outlook.

Additionally, the online presence of e-commerce brands offering budget-friendly clothing options plays a pivotal role in driving market growth. Government initiatives, including A-TUFS, Power-Tex, and SITP, are actively fortifying the textile industry and paving the way for future growth.

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14 July  2023, Mumbai

Transformational; Indian Government Approves PM MITRA Textile Park in Gujarat, Aiming to Transform Textile Industry.

The Indian government has given the green light for the establishment of the Prime Minister Mega Integrated Textile Regions and Apparel (PM MITRA) Park in the Vansi-Borsi village of Navsari, Gujarat.

Attract significant investments

This ambitious project, backed by the Gujarat Industrial Development Corporation (GIDC), aims to revolutionize the textile industry in the state. The government will contribute 30% of the required ₹1,500 crore, while the park is expected to attract investments of around ₹10,000 crore.

Create job opportunities

With an area of 462 hectares, the PM MITRA Park will house common facilities and an integrated textile value chain, reducing logistics costs and enhancing productivity. This initiative aligns with Prime Minister Narendra Modi's vision of establishing India as a global textile manufacturing and export hub.

Momentous moments

The signing of the memorandum of understanding (MoU) between the Centre and the state, scheduled for tomorrow, will mark a significant milestone in this endeavor.

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