31 March 2022, Mumbai:

The Union Cabinet on Wednesday approved Rs 6,062 crore for World Bank assisted programme for the MSME sector, which is meant to improve their access to market and credit, address issues related to delayed payments, and greening of the sector apart from strengthening governance.

ALSO READ Tirupur exporters meet FM, urging to help SMEs

Raising and Accelerating MSME Performance (RAMP) scheme is to be implemented in the next financial year and is meant to address Covid-19 and generic challenges faced by the sector.

RELATED NEWS On the Udyam platform, over 66 lakh MSMEs have registered, with 95% of them being micro companies

MSMEs have been among the worst-hit segments of the economy during the pandemic period with several units shutting down due to payment and credit issues.

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

26 March 2022, Mumbai:

One of India's leading manufacturers and exporter of value-added specialty polyester filament yarn (SPFY) and embroidery and laces, Pioneer Embroideries (PEL)can cross turnover of Rs 414 crore by FY 24 from Rs 226 crores in FY22, according to a research report by Profit Mart Securities.

ALSO READ The expansion plan for Pioneer Embroideries Limited is on track

The report said that on the bottom line level, the company is expected to record a PAT of Rs 13 crore in FY22, which is expected to bounce back to Rs 16 crore in FY23 and Rs 21 crores in FY24.

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Thus on a conservative basis, PEL should record an EPS of Rs 5 for FY22. PEL has its manufacturing facility for SPFY at Himachal Pradesh and runs three embroidery and laces manufacturing facilities at Gujarat, Dadra & Nagar Haveli, and Tamil Nadu.

It owns two strong brands, Silkollite in the SPFY segment and Hakoba , a heritage brand, in the retail segment for embroidered fabrics, garments, salwarkameezdupatta (SKDs), and sarees.

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25 March 2022, Mumbai:

E-commerce giant Flipkart said on Thursday it has signed a Memorandum of Understanding (MoU) with MP Industrial Development Corporation (MPIDC) to support small businesses and local artisans under the One District One Product (ODOP) initiative in Madhya Pradesh.

ALSO READ Flipkart is a firm believer in real-time transactions

"To support the ODOP programme of the Government of Madhya Pradesh, the partnership under Flipkart's Samarth initiative will enhance rural livelihoods allowing local businesses, craftsmen, artisans and weavers to offer their products to millions of customers," Flipkart said in a statement.

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John Kingsly, Export Commissioner and Managing Director of MPIDC, and Rajneesh Kumar, Chief Corporate Affairs Officer, Flipkart Group, signed the MoU in presence of Rajvardhan Singh Dattigaon, Minister, Department of Industrial Policy and Investment Promotion, Madhya Pradesh.

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CREDITS: ANI NEWS (The news article has not been edited by DFU Publications staff)

30 March 2022, Mumbai:

India’s textile and clothing (T&C) goods grew 39.6 percent to $41,469.20 million in 2021 over the previous year. Compared to 2019, India’s T&C exports grew 16.9 percent.

Cotton was the most exported commodity during the year with exports growing 67.11 percent to $10,026.99 million in 2021 compared to 2019.

Most of India’s cotton exports were destined for the United States during the year.

The US tops cotton textile exports

US emerged as the top destination for India’s T&C exports.

Most of India’s T&C exports to the US were dominated by cotton. India exported $3736.54 million worth of cotton textiles to the US during the year.

ALSO READ Textile sector exports increase by 41% in April- December 2021 v/s last year

The second-largest export market for Indian cotton textiles was China, exports which grew 61.5 percent to $1,686.83 million in 2021 over 2019 exports.

Amongst other growing export destinations, Vietnam, Indonesia, Turkey, Guatemala and Nigeria witnessed 147.7 percent, 178 percent, 136.1 percent, 179.8, and 198 percent growth in exports respectively.

Yarn exports rise

The most exported commodity in cotton was cotton yarn which grew 68.8 percent to $ 4,919.76 million. Exports of raw cotton also increased 150 percent to $2854.41 million during the year while exports of woven cotton fabric grew 15.7 percent to $2,251.52 million.

Apparel exports decline

India’s apparel exports declined 6.4 percent to $15,205.91 million in 2021 over 2019 exports.

The dip was mostly in knitted apparel whose exports declined 0.16 percent to $7,869.08 million.

The US emerged top market for India’s knitted apparel with exports growing 22.4 percent to $2,504.67 million. Exports to other markets UAE, UK, Germany, France, Saudi Arabia, and Spain dropped in 2021 compared to 2019 exports. Exports of knitted cotton T-shirts dropped 13.2 percent to $1698.16 million in 2021.

RELATED NEWS World trade rebounds to record high in Q1 2021: Global Trade Update, UNCTAD

On the other hand, exports of cotton baby garments exports rose 11.5 percent to $790.54 million. Exports of woven apparel dropped 12.33 percent to $7,336.83 million during the year with the US emerging as the largest destination.

Woven apparel exports to the country dropped marginally by 0.9 percent from 2019 to $2,277.02 million. On the other hand, exports UK, Germany, Spain, Saudi Arabia, Japan, and Italy registered a huge drop.

In woven apparels category, exports of men’s and boy’s cotton shirts dropped 31.2 percent to $570.78 million while exports of cotton dresses grew 8.26 percent to $624.74 million.

Carpet exports grow

India’s carpet exports grew 32.09 percent in 2021 to $2,263.99 million.

Once again the US emerged as the top destination with exports growing 33.34 percent to $1, 287.11 million. India’s carpet exports to Germany, the UK, Australia, Sweden, and France are also growing at a steady rate.

Textile fabrics register maximum growth

Textile and knitted fabrics witnessed maximum growth of 172.4 percent and 166.9 percent respectively during the year.

Export of made-up textiles grew 39.7 percent to $3,459.22 million while knitted apparel rose 22.41 percent to $2,504.51 million. Woven apparel exports declined 0.9 percent to $ 2,276.79 million while export of carpets increased to $1.286.98 million.

Bangladesh dominates T&C exports

Bangladesh remains the second-largest export destination for India’s T&C goods. Exports to the country grew 107.2 percent in 2021 to $4,259.53 million.

Cotton exports to Bangladesh rose 141.7 percent to $3,735.03 million in 2021 over the 2019 exports.

RELATED NEWS SRTEPC: Textile expo ‘Source India 2022’ generates decent business

India’s T&C exports to China grew 46.5 percent to $2055.03 million in 2021 over 2019. Cotton exports to China also rose 61.53 percent to $1 686.83 million. On the other hand, exports to UK, Germany, France, and Spain declined 19.1 percent, 3.4 percent, 2 percent, and 14.2 percent respectively.

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CREDITS: Textile Excellence report

26 March 2022, Mumbai:

Export of Textiles and Apparel during April - January 2021-22 is USD 34.46 bn, posting a growth of 49% over the same period in 2020-21.

With a view to attracting investment, boosting employment generation, and increasing production, the Government has approved the Production Linked Incentive (PLI) Scheme for Textiles and Pradhan Mantri Mega Integrated Textile Region and Apparel Parks (PM-MITRA) Scheme for setting up 7 Mega Textiles Parks over a period of 3 years.

The PLI scheme for textiles will promote the production of high-value Man-Made Fibre (MMF), Garments, and Technical Textiles in the country.

ALSO READ Darshana Jardosh: PM MITRA proposals under evaluation

The PM MITRA scheme aims to develop integrated large-scale and modern industrial infrastructure facilities for the entire value-chain of the textile industry and will enhance the competitiveness of the textiles industry, by helping it to achieve economies of scale and will create huge jobs opportunities for millions of people.

Direct Employment in the Textiles sector is estimated at 45 million.

RELATED NEWS Union minister for textile Darshana Jardosh and Gujarat BJP presudent CR Paatil press for GST rollout on Textiles & Apparel (T&A)

The government is implementing various policy initiatives and schemes to increase investment/expansion of textile industry including modernization of weaving and processing sector such as Amended Technology Upgradation Fund Scheme (A-TUFS), National Handloom Development Programme (NHDP), Integrated Processing Development Scheme (IPDS), Scheme for Integrated Textiles Parks (SITP), Samarth–Scheme for Capacity Building in Textiles Sector, etc.

As per the latest figures from National Accounts Statistics, the contribution of the textile industry as a percentage of industrial production during 2017-18, 2018-19, 2019-20 has been 7%. This information was given by the Minister of State for Textiles Smt. Darshana Jardosh in a written reply in the Rajya Sabha today

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CREDITS: PBI (The news article has not been edited by DFU Publications staff).

25 March 2022, Mumbai:

The scene is prepared for the 53rd edition of the India Handicraft and Gift Fair (IHGF) - one of the world's largest handicrafts fairs – organized by the Export Promotion Council for Handicrafts (EPCH).

The big event will take place at India Expo Center & Mart in Greater Noida from March 30 to April 3, 2022. The Indian Fashion Jewelry & Accessories Show (IFJAS) will be held concurrently with the 15th edition of the show.

The festival will include home, lifestyle, fashion, textiles, and furniture goods from 2,500+ handicrafts exporters across the nation, according to Raj Kumar Malhotra, Chairman, EPCH.

ALSO READ 53rd IHGF Delhi Fair 2022: CONNECTING THE BEST IN INDIA's HANDICRAFTS

This edition will feature 2,000+ new goods and 300+ design expressions across 14 product categories such as houseware, home furnishing, clothes furniture, gifts and decoratives, carpets and rugs, leather bags, and more.

Theme pavilions displaying crafts from the North Eastern Region, Rajasthan, Ladakh, J&K, and Bihar will be among the main draws for the international buying community.

Dr. Rakesh Kumar, DG, EPCH, applauded the Indian government's proposal to abolish foreign travel restrictions beginning March 27, 2022, making it easier for purchasers to travel.

Buyers from more than 90 countries have pre-registered to attend the show. Despite the fact that there are few signs of the COVID 19 virus in India– and particularly in Delhi NCR– EPCH is organizing this fair in accordance with the relevant safety standards and SOPs for organizing B2B trade expositions published by the WHO and the Indian government.

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Thermal scanning at entry, color badge-based entry, mandatory face masks, hand sanitization machines, maintaining physical distancing, respiratory etiquettes, medical facility, isolation center at the venue, Covid enforcement officer, Aarogya Setu app (for domestic visitors), CCTV, and other guidelines have been established by EPCH for exhibitors, buyers, and visitors at the fair venue.

Visitors from key Indian retail and online platforms, including Amazon, Flipkart, Reliance Brands Limited, Fab India, Praxis Home Retail Limited, Aditya Birla Fashion and Retail ltd, Westside, and Future Group, to name a few, will attend the expo. Knowledge sessions with professional teachers from India and outside will also be held throughout the event.

RELATED NEWS IHGF, Export Promotion Council for Handicraft (EPCH) registers heavy turnout, business enquiries surge

Throughout the epidemic, the handicrafts sector has maintained manufacture and exports. The sector's continued virtual trade shows, as well as the first post-pandemic physical show – the 52nd IHGF Delhi Fair-Autumn 2021– have been instrumental in the sector achieving estimated exports of Rs. 29,626.96 crore (US $ 3,981.72 million) during eleven months (April-February) of 2021-22, which is significantly higher than exports of Rs. 25,679.98 crore (US $ 3,459.75 million) during April-March 2020-21.

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CREDITS: Apparel Resources.

29 March 2022, Mumbai:

Organized by the Synthetic and Rayon Export Promotion Council (SRTEPC), the three-day textile exhibition ‘Source India 2022’ generated a business worth $150 million despite recording only 75 visitors from 30 countries.

The event raked in orders worth around $300 million that will be sealed after completing some formalities in the coming days. Around 52 exhibitors from India participated.

ALSO READ SRTEPC: Huge Export Opportunity in the Japanese Market

Buyers from Africa, Europe, Turkey, the US, and a few other regions visited the exhibition.

Eunice Gakungu, a buyer from Nairobi said, the exhibition was well organized and she could find the products she was looking for.

RELATED NEWS GST revised: Apparel would cost 20% higher, causing a major reaction from the Indian sector

The exhibition will help India's textile exports as the majority of buyers are not going to China, say experts.

Currently, Chinese suppliers are not in a position to supply orders on time and at old rates, they add.

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25 March 2022, Mumbai:

Manoj Patodia, Chairman, The Cotton Textiles Export Promotion Council (TEXPROCIL), urged the government to remove Customs duty on raw cotton and include Made ups in the scheme for duty-free imports of specified items that have been introduced in the Union Budget 2022 for textile garments which will lead to significant growth in exports of Made-ups.

Patodia said, India’s exports of cotton textile products such as made-ups ((including home textiles), fabrics, and yarns reached $13.95 billion from April 2021 to February 2022, surpassing the Government's target of $ 12.50 billion.

ALSO READ China loses 2nd biggest export market tag for "Indian Cotton Yarn"

Exports of Cotton textiles have exceeded the target by 102 percent in 11 months itself .

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The extension of the RoSCTL scheme for Made-ups and Garments for three years till March 31, 2024, and covering of the entire value chain of textile products under the RODTEP scheme, helped make the sector make competitive, he added,

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24 March 2022, Mumbai:

After two years, physical fashion shows finally made a comeback, and it surely called for a celebration. So, a grand party was hosted at the Italian Embassy with a fashion show by Rahul Mishra, which marked the beginning of FDCI X Lakmé Fashion Week in Delhi.

Sunil Sethi, Chairman, the Fashion Design Council of India (FDCI), said, “This season’s FDCI X Lakmé Fashion Week is going to have an international appeal through our partnership with the Italian Embassy and designer Rahul Mishra who continues to make strides globally.”

ALSO READ  FDCI X Lakme Fashion Week: All-Plus size brand to showcase

After two years, physical fashion shows finally made a comeback, and it surely called for a celebration.

RELATED NEWS FDCI, Chairman-Sunil Sethi: Neckties can never go extinct

So, a grand party was hosted at the Italian Embassy with a fashion show by Rahul Mishra, which marked the beginning of FDCI X Lakmé Fashion Week in Delhi.

Sunil Sethi, Chairman, Fashion Design Council of India (FDCI), said, “This season’s FDCI X Lakmé Fashion Week is going to have an international appeal through our partnership with the Italian Embassy and designer Rahul Mishra who continues to make strides globally.”

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

29 March 2022, Mumbai:

Centric Software, located in the United States, has entered the Indian fashion retail sector by partnering with Trent Limited (a Tata Group store), Ethnicity (a clothing brand), and Derewala (a jewelry maker) for their benchmark system Centric PLM.

According to Centric, spreadsheet disarray, which is a common problem in the business, was a major motivator for all three organizations to implement PLM.

It will be obsolete to search through several spreadsheets, files in various emails, and out-of-date versions.

All product development information can be located in a single, digital hub with Centric PLM, which is available to all departments whenever they need it.

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Kripya, a long-time Centric partner, is driving the Centric PLM implementation for Trent Limited, Ethnicity, and Derewala. It's worth mentioning that Kripya has successfully implemented Centric PLM for a number of worldwide brands, retailers, and manufacturers of all sizes and complexity levels, including Li & Fung, ASICS, Brandix, Hirdaramani, MAS Holdings, VT Garment, and SHOEfabrik.

Centric PLM projects have had a 100% go-live and 97 percent reference-ability record since its start, indicating the company's 500+ clients' satisfaction.

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"By integrating the finest of Silicon Valley innovation and local understanding, we will streamline activities for Trent Limited, Ethnicity, and Derewala," said Venkatesh Narasimhan, Chief Operating Officer of Kripya Solutions Pvt. Ltd.

These businesses should expect more visibility throughout the product development process, as well as improved internal and external cooperation." "With over a decade of Centric deployment collaboration, Kripya is fully integrated into Centric's processes and governance," said Ravi Rangan, Chief Technical Officer, and VP of Client Services at Centric Software.

With Centric PLM, we will enable three top Indian enterprises to achieve the benefits of cooperation and speed-to-market that they want." 

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CREDITS: PR Newswire & Apparel Resources.

25 March 2022, Mumbai:

With India achieving $ 400 billion merchandise exports, Narendra Goenka, Chairman, Apparel Export Promotion Council (AEPC) hopes, India will become the world’s garment factory in next three years.

Launch of new schemes like RoSCTL, PLI and PM-MITRA will increase the production, employment and export capacity of one of the largest employing sectors with maximum women workforce, he adds.

ALSO READ AEPC, N.Goenka, Chairman: The extension of the Emergency Credit Line Guarantee Scheme (ECLGS) to bring relief to apparel exporters

Goenka credited the various government incentives for boosting manufacturing across sectors and the policy of Made in India for the world.

RELATED NEWS Prime Minister Narendra Modi's 4 points strategic pathway aiming at $400Bn exports in FY22

Indian readymade garments (RMG) exports have strengthened the country’s position in traditional export destinations of the US, UAE, UK and France in 2021-22, he highlighted

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24 March 2022, Mumbai:

The Minister of Commerce and Industry, Consumer Affairs, Food, and Public Distribution and Textiles, Piyush Goyal has said that the state of Bihar has huge potential under the One District-One Product (ODOP) programme to contribute to India’s rising exports.

Stating that the State’s GDP is rising rapidly, he said Bihar has made rapid strides in Health and Education sectors.

“You have identified products for exports in each district, be it Bhagalpur silk, pharmaceuticals from Sivan, bamboo products from Samastipur or the ‘Shahi Litchi’ of Muzaffarpur, all of these products are famous worldwide,” said Shri Goyal, addressing the Bihar Utsav celebrations at the Dilli Haat last night to mark the Bihar Diwas, the 110th year of establishment of the State.

ALSO READ Piyush Goyal: Time for the Startups to help India become self-reliant

Stating that Bihar is a land of immense opportunities, Shri Goyal said the Cooperative sector should be strengthened and the Farmer Producer Organizations (FPOs) empowered to boost production.

He hoped that with the implementation of the New Education Policy, the youth will be imparted Vocational Training to contribute to the development of the state.

RELATED NEWS In 2021, India's domestic textile exports would generate US $ 6.68 billion in income

“In recent times, an entrepreneur from the state, Praveen Chauhan, has extracted natural dyes from the flowers of Bodhgaya temple.

Today, his dyes are being used in fashion textiles even as far as in Japan,” he said. Shri Goyal said the Prime Minister Shri Narendra Modi has gone a step ahead from the ‘Look East policy to ‘Act East policy, which includes Bihar, neighbouring Jharkhand, and West Bengal besides the eight states of the North-Eastern Region.

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CREDITS: PBI (The news article has not been edited by DFU Publications staff).