10 March 2022, Mumbai:

India’s home textile exports surged to $7.34 billion during 2021 as the country benefitted from a receding pandemic and countries adopted the ‘China Plus One’ strategy.

The US emerged as the top export destination for India with 58 percent of total export value, India recorded revenues worth $2.60 billion from its home textile exports to the EU.

Compared to its Asian counterparts, India’s home textile exports to the US’ surged past Bangladesh’s of $450 million in 2021 and Vietnam’s $ 17.77.

ALSO READ: GHCL Limited's home textile division is being acquired by Indo Count for Rs. 576 crore

India’s linen exports grew 45.83 percent to $2.45 billion in 2021. On the other hand, China’s linen exports declined 17.58 percent to $889.64 million in the four aforementioned categories in 2021 from $1.08 billion in 2019, though it upped shipment by 15.60 percent compared to 2020.

Of all major players in the segment, Welspun Group is moving towards touching $1 billion revenue targets for the first nine months of the current fiscal, the company’s revenues climbed 35.80 percent to approximately $955 million.

It is also expanding its manufacturing footprint, with the capacity increase in towels, bedding, rugs, and carpets in the coming months.

RELATED ARTICLE Home textiles segment to see double-digit growth: Crisil

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05 March 2022, Mumbai:

Cotton yarn prices in India slipped additional by as much as ₹8 per kg as the market obtained sluggish demand.

According to commerce sources, home demand didn’t help market sentiment as manufacturing actions remained weak in garment models.

Export demand is weak attributable to the uncertainty of geo-political developments after Russia’s assault on Ukraine. Domestic demand for summer season clothes isn’t but seen.

But present demand was less than the expectations. Prices fell as a result of the market being neither supported by home nor export demand. Local demand is anticipated to choose up after mid-March, however, it is going to be brief-lived due to the monetary yr ending.

ALSO READ: TIRUPPUR TRADERS EXPECT COTTON YARN PRICES TO RISE POST FESTIVE SEASON

He mentioned that around 70-80 percent of energy looms are closed quickly as demand from the garment business was very poor. Export demand was additionally low in the market as consumers weren’t able to take any danger.

Traders mentioned that export demand was already weak, and present disaster added to the concerns.

Exporters have been dealing with problems getting containers. Availability of containers diminished as world vessel motion was disrupted after the Russia-Ukraine battle and restrictions imposed by the western powers.

Cotton yarn prices in India slipped additional by as much as ₹8 per kg as the market obtained sluggish demand.

According to commerce sources, home demand didn’t help market sentiment as manufacturing actions remained weak in garment models. Export demand is weak attributable to the uncertainty of geopolitical developments after Russia’s assault on Ukraine.

In the Mumbai market, yarn prices fell by ₹2-8 per kg as demand weakened additional. 60 rely carded cotton yarn of warp and weft varieties have been traded at ₹1,910-1,920 and 1,670-1,720 per 5 kg, respectively.

Carded cotton yarn (44/46 rely) of warp selection was traded at ₹1,700-1,740 per 5 kg. 80 rely carded cotton yarn of weft selection was bought at ₹1,870-1,920 per 4.5 kg.

RELATED ARTICLE Space Rocketing Cotton and Cotton Yarn prices – Representations pending for Government action

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CREDITS:usnewscentre.com & Fibre2Fashion.

04 March 2022, Mumbai:

A steep rise in crude oil prices amid the Ukraine crisis pushed acrylic fibre prices by Rs 5-6 per kg last week in the Indian market.

The cost of acrylic yarn also increased by Rs 5-6 per kg during the week ending February 26 in Ludhiana, the country’s most prominent man-made yarn market.

However, the demand for man-made yarn remained weak due to poor buying from the downstream industries.

ALSO READ: CITI’s Manmade Fibre Conclave'22: Virtual platform, 9th Mar

Meanwhile, international cotton prices remained highly volatile along with other commodities due to the recent geopolitical developments. Domestic demand for the summer season remained low due to a drop in temperature.

Export demand also remained weak as exporters have very few orders.

Recent international developments are also adding to buyers' woes due to uncertainty in garment exports.

RELATED ARTICLE FASHION FOR GOOD: LATEST PROJECT TRANSFORMS AGRICULTURAL WASTE INTO FIBRES

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08 March 2022, Mumbai:

International Conference on Technical Textiles: Creating the Winning Leap in Technical Textiles

Confederation of Indian Industry (CII) in partnership with the Ministry of Textiles, Government of India is organising the International Conference on Technical Textiles with the theme Creating the Winning Leap in Technical Textiles on 12 March 2022 , at Taj Mahal Hotel, Man Singh Road, New Delhi over the hybrid platform.

Piyush Goyal, Hon’ble Minister of Commerce & Industry, Textiles and Consumer Affairs & Food & Public Distribution, Government of India has kindly agreed to address and interact with the industry leaders, experts and participants at the conference.

The conference will focus on Medical Textiles, Geo Textiles, Agro Textiles, Specialty Fibres, Protective Textiles and Sports Textiles, in sync with the National Technical Textiles Mission (NTTM) through parallel sectoral sessions.

ALSO READ Piyush Goyal: Need to develop skills of tomorrow for the industry

The Conference will deliberate on key areas like Market Development, Boosting Demand, Export Promotion, Research, Innovation and Development (RID), and Education, Training, and Skill Development of the Technical Textiles Sector.

The parallel sectoral session of the conference will emphasize the applications, identification of technology gaps that needs to be addressed for the growth of the Indian Technical Textiles sectors through Government-Industry and Academia partnership apart from policy recommendations to the Government of India.

The Conference would bring together industry leaders, experts, key stakeholders, and policymakers from various user Ministries to discuss and deliberate upon the evolving scenario in technical textiles manufacturing in India and also exchange ideas and global views on the future growth and development of the sectors.

RELATED ARTICLE Piyush Goyal: Industry has responded well to the multiple Government interventions

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05 March 2022, Mumbai:

The war between Russia and Ukraine is already having a negative impact on companies in Europe and other areas of the world. Energy and gas costs are once again increasing, and EURATEX, the European Apparel and Textile Confederation, has warned that if these prices continue to grow, businesses would be forced to shut down.

Though EURATEX supports the EU's actions in the Ukraine-Russian crisis, it requests that the European Union and its members compensate for the situation by supporting their industry.

"Companies need access to energy at acceptable rates," adds EURATEX, "whether through subsidies, the removal of environmental taxes or VAT from bills, or price restrictions."

ALSO READ EURATEX: BETTER COLLABORATION CAN SMOOTHEN EU-UK TRADE FLOW

According to EURATEX, the energy crisis that began at the end of last year has gotten worse in the previous week. According to a report by Reuters, benchmark European gas prices at the TTF hub in the Netherlands increased by 330 percent last year, while benchmark German and French power contracts more than quadrupled.

According to EURATEX, the textile and garment sector is in an unusual scenario as a result of the price increase, with several businesses considering closing down production owing to rising energy prices.

"The transition to renewable and cleaner energy sources must be accelerated to ensure decreased reliance."

However, it is a lengthy procedure that will not be completed in the future months.

"As a result, Europe must examine the alternatives available to manage such market shocks as soon as possible," EURATEX says.

RELATED ARTICLE European textile industry needs to grow its role on global markets

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CREDITS: euratex.eu & Apparel Resources.

04 March 2022, Mumbai:

30 years of expertise as a foundation for the future.

The vision of the OEKO-TEX® Association, which was founded in March 1992 through a partnership between the Hohenstein Research Institute and the Austrian Textile Research Institute (OETI), is still reflected today in the organisation's core values: trust, safety and sustainability.

For three decades, OEKOTEX® has pursued the goal of building trust for companies and consumers and enabling them to make responsible decisions to protect people and the planet.

"Our services bring transparency to the international textile and leather industry supply chains," says OEKO-TEX® Secretary General Georg Dieners.

"They enable all stakeholders to make mindful decisions that help preserve our planet for future generations." OEKO-TEX® market leadership In 1992, 20 years before the United Nations announced the Sustainable Development Goals (SDGs), OEKO-TEX® launched STANDARD 100 by OEKO-TEX®, now one of the best-known labels for product safety.

ALSO READ: Oeko-Tex has released a new impact calculator for the textile sector

"It emerged from the Schadstoffgeprüft nach ÖTN 100 (tested for harmful substances according to ÖTN 100), developed by OETI in 1989 to address increasing public interest in textile ecology and health," the Austrian Textile Research Institute reminds us.

The limit values and test methods on which STANDARD 100 by OEKO-TEX® is based were internationally standardised and are adapted to the latest scientific findings and legislation at least once a year - a principle that is applied to all OEKO-TEX® standards.

Prof. Dr Stefan Mecheels, owner of the textile testing service provider Hohenstein, adds: "From the very beginning, we have considered the needs of all players in the textile value chain and continue to create solutions for current and future market requirements."

RELATED ARTICLE: Hohenstein x Presize partner for better online fitting

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04 March 2022, Mumbai:

The Minister of Commerce and Industry, Consumer Affairs, Food, and Public Distribution and Textiles, Piyush Goyal has called for increasing India's share in global trade to 10% and taking our share of exports in GDP to about 25%.

“These are ambitious targets, but I think doable,” said Goyal, addressing the Closing session of the Post-Budget Webinar on ‘Make in India for the World’.

Goyal said the Prime Minister, in his Inaugural Address to the webinar, renewed emphasis to promote Manufacturing and make India self-sufficient. “Today other countries are also talking of programmes very similar to AatmaNirbhar Bharat.

And I think there can be no better endorsement of the importance and the success of this vision than the fact that the world today wants to emulate the India story,” he said. Shri Goyal called for taking India among the top 3 nations in Global Services Trade.

ALSO READ Piyush Goyal: Industry has responded well to the multiple Government interventions

He called for supporting MSMEs in foreign trade, besides creating Top 10 R&D labs/innovation centres to position ourselves as a leader in technology during the next 25 years as India embarks upon the Amrit Kaal towards India@100.

“Let all of us become job creators, let all of us work towards strengthening India’s Manufacturing ecosystem in a collaborative approach, let’s all of us make India AatmaNirbhar,” he said.

Stating that the Government is looking at a more liberal regulatory regime for the Drones sector barring the Defence systems, Shri Goyal said the Industry should aim to make India become the manufacturing hub of Drones.

He called for integrating Quality in full value chain and said it should not just come into picture once the final product is made.

RELATED ARTICLE Piyush Goyal: India should display fashion products globally

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CREDITS: PBI.

04 March 2022, Mumbai:

ASBM Industrial Plc has partnered with Togo's PIA (Industrial Platform of Adetikopé).

ASBM Industrial, for example, is one of Ethiopia's largest garment and textile manufacturers, specializing in spinning, weaving, knitting, processing, and garmenting.

The state-of-the-art industrial park in Togo, PIA, was established in 2021 as a result of public-private cooperation between the Republic of Togo and ARISE IIP. The major company will be able to open a spinning and knitting facility in the industrial zone to produce cotton yarn and knitwear as a result of this collaboration.

The business plans to grow its initial manufacturing capacity from 15 to 30 tonnes per day and will combine PIA's benefits with its textile experience.

ALSO READ: European textile industry needs to grow its role on global markets

PIA said in a statement that it was honored to welcome Abiy Gidey of ASBM Industrial Plc, an Ethiopian partner, to proceed with the signing of cooperation with the textile sector.

"We look forward to forming a solid cooperation with ASBM Industrial Plc. in order to share their knowledge in Togo," the company stated.

It's worth noting that Togo's PIA Park is luring garment manufacturers from all over the world. ITCRmg, a company located in India, has announced plans to invest US$ 35 million and install 750 flat knitting machines in Togo's 'PIA' Park (The Industrial Platform of Adetikopé).

RELATED ARTICLE: BGMEA x UNI Global Union to tie-up

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*CREDITS: Apparel Resources.

04 March 2022, Mumbai:

The Prime Minister, Narendra Modi, today addressed post-budget webinar organized by The Department for Promotion of Industry and Internal Trade (DPIIT).

This is the eighth post-budget webinar addressed by the Prime Minister. Theme of the webinar was 'Make in India for the World'. The Prime Minister said that the budget has many significant provisions for Aatmnirbhar Bharat and Make in India.

He said that it is not acceptable that a country like India ends up merely as a market. He pointed towards supply chain disruptions during the pandemic and other uncertainties to underline the critical importance of Make in India.

On the other hand, the Prime Minister continued, positive factors like demographic dividend of young and talented population, democratic setup, natural resources should also encourage us to move towards Make in India with determination.

He also referred to his call for zero defect-zero effect manufacturing that he gave for the ramparts of Red Fort. Aatmnirbharta is all the more important if we see from the prism of national security, he said. The Prime Minister said, that the world is looking at India as a manufacturing powerhouse.

ALSO READ: Prime Minister, Narendra Modi: Ludhiana (Punjab) would emerge as a textile center

Manufacturing, he said, is the 15 per cent of India’s GDP, but there are infinite possibilities before Make in India and we should work with full strength to create a robust manufacturing base in India, he said.

The Prime Minister gave examples of new demand and opportunities in sectors like semiconductors and Electric Vehicles where manufacturers should move with a sense of removing dependencies on foreign sources.

Similarly, areas like steel and medical equipment need to be focussed on indigenous manufacturing, he said. The Prime Minister stressed the difference between the availability of a product as opposed to the availability of made-in-India products in the market.

He reiterated his dismay that many of the supplies for India’s various festivals are seeing foreign providers whereas they have been and can be easily provided by local manufacturers. He also emphasized that the ambit of ‘Vocal for Local’ goes well beyond buying ‘diyas’ on Diwali.

He asked the private sector to push the factors of vocal for local and Aatmnirbhar Bharat in their marketing and branding efforts. “Take pride in the products your company makes and instill this sense of pride in your Indian customers as well. For this some common branding can also be considered”, he added.

RELATED ARTICLE Narendra Modi: MSMEs and textiles being Labour intensive sectors are our key pillars

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CREDITS: PBI.

03 March 2022, Mumbai:

The war between Russia and Ukraine has wreaked havoc on the global political and economic scene, and the industries aren't thrilled with what's going on in Eastern Europe.

Businesses, especially those in the fashion sector, want this war to end as quickly as possible while also standing in solidarity with the people of Ukraine.

To have an effect, some multinational corporate corporations have indicated that they will close or cease operations in Russia.

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Messe Frankfurt, a German event organizer, just declared that their events in Russia will be halted. According to Messe Frankfurt, Russia's invasion of Ukraine poses an unprecedented threat to Europe's peaceful coexistence.

"All of the measures imposed by the Federal Government have the full support of Messe Frankfurt.

As a result, Messe Frankfurt's management decided today to suspend operations at Messe Frankfurt RUS until further notice "according to a press release from the company.

RELATED ARTICLE: Messe Frankfurt India postpones ‘Screen Print India’ editions focused on digital printing

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*CREDITS: ecotextile.com & Apparel Resources.