01 November 2021, Mumbai:

India's handicraft exports increased by 60% to Rs 15,996 in the first nine months of the current fiscal year, according to the textiles ministry. From October 29 to 31, the ministry hosted the 52nd edition of the IHGF-Delhi Fair - Autumn 2021 at the India Expo Centre & Mart in Greater Noida.

Handcraft exports are expected to increase in the next six months of the current fiscal year, according to the ministry. "It's encouraging to see the physical display going place at a time when the world's largest immunisation campaign is in full gear."

This will provide exhibitors and buyers the opportunity to meet in person and do business.

In a statement, Union Minister of Commerce, Industry, and Textiles Piyush Goyal stated, "The event will pave the way for bigger and better editions of the fair in the near future, and in the process, encourage increased exports of handicrafts from India."

"I congratulated the handicrafts category for contributing to an excellent export rise of 60% during the first six months of 2021-22, notwithstanding the obstacles and hurdles encountered by exporters throughout the pandemic's two years,"

Textiles Secretary U P Singh remarked. More than 1,500 exhibitors and pre-registered buyers from 90 countries attended the IHGF-Delhi Fair - Autumn 2021.

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28th October 2021, Mumbai:

For the second quarter, Arvind’s revenue from operations rose 62.05 percent. The textile manufacturer’s total expenses increased 53.19 percent; revenue from textiles was up 70.69 percent while advance material was up 60.49 percent.

Volumes grew across all segments as post-Covid-19 demand stayed strong in both export and domestic markets. Input costs continued to increase sharply but were mostly offset by improved price realisation and higher efficiencies.

Arvind is one of the largest textile companies in India. This year is likely to see demand growth as retail and distribution pipelines are running low on inventory. The company’s sampling process moved online and sets the company up for a much speedier response to the market. The company is also investing in blockchain-based solutions to improve the traceability of inputs.

The financial year 2021 was a challenge for Arvind’s core textile and apparel businesses. There was a sharp reduction in demand across all markets especially in the early part of the financial year. However, as countries learn to live and cope with Covid-19, many export markets have started to resume. By the second quarter, several of Arvind’s export customers had started placing orders, partly driven by their online demand.

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02 November 2021, Mumbai:

Indian exporters of home textiles may have a 20 per cent surge in revenue in fiscal 2022, says ratings agency Crisil. Growth will ride on the back of strong retail sales in the US and better outlook for festive season in export-dominated markets.

This, along with global companies adopting a China plus one sourcing strategy, is likely to benefit homegrown home textile exporters.

Exports account for 60 per cent of the Rs 55,000 crore Indian home textiles industry, which comprises products such as terry towels, bed sheets and spreads, pillow covers, curtains, rugs and carpets.

The pandemic had impacted global demand for such products. However, export demand has been healthy so far this fiscal and is expected to stay strong in the third quarter, going into the festive season, as the impact of the pandemic wanes.

The US is a key export market that accounts for 55 per cent of export revenue. Exports to the US market grew 42 per cent year on year in the first half of calendar 2021 compared to a 15 per cent growth in the corresponding pre-pandemic period of calendar 2019. Average capacity utilisation of three large listed home textile players in the bed linen segment increased to 87 per cent in the first quarter of the fiscal when compared to pre-pandemic levels of 68 per cent.

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30th October 2021, Mumbai:

The recent pilot release of Textile Exchange’s Electronic Trackit ‘eTrackit’ programme – a digital 1st system for nuanced & credible traceability driven by innovative & ingenuity led technologies applied to 'Textile Exchange Standards' within this sector.

This has been a culmination of year-long rigorous concerted & collaborative development between two global companies of immense repute & fame, Textile Exchange and TextileGenesisTM.

Official sources are indicative of the fact that" The pilot program is poised to be unveiled in November 2021 at Textile Exchange’s already announced an annual global conference in Dublin, as contemplated its phase-I is envisaged to concentrate on the acclaimed, Global Recycled Standard (GRS) and widely entrenched & accepted (RCS) the Recycled Claim Standard.

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02 November 2021, Mumbai:

On October 30, the Khadi and Village Industries Commission (KVIC) outlet in New Delhi's Connaught Place made the biggest ever single-day sale of Rs 1.29 crore ($172,523). On the 2nd of October 2019, the largest ever single-day sale of Khadi was Rs 1.28 crore. ET

Khadi has experienced rapid development in recent years, with single-day sales reaching Rs 1 crore 13 times in the last five years.

"Khadi is the biggest emblem of 'Swadeshi,' and the Hon'ble Prime Minister's appeal has added to the soaring spirit of Khadi enthusiasts and the festive enthusiasm," KVIC chairman Vinai Kumar Saxena said in a statement. Khadi's ever-increasing acceptance and popularity is evidenced by its record sales statistics."

“It is worth noting that in the Covid-19 era, the government's campaign for 'Atma Nirbhar Bharat' and 'Vocal for Local' has led to a massive increase in demand for eco-friendly and herbal items.

KVIC is always adding new items to meet the growing need of its customers, which is evident in its sales results," he added. At its brick-and-mortar stores and online, KVIC sells Khadi products as well as locally created personal care products and other items.

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01 November 2021, Mumbai:

Snapdeal has recruited Ullas Kamath and Anisha Motwani as directors. FMCG veteran Ullas Kamath is the joint managing director of Jyothy Labs. Brand expert Anisha Motwani has worked as a World Bank consultant on the Swachh Bharat Program, Solar Rooftop Adoption, and the National Mission for Clean Ganga.

The e-com major is considering filing a draft red herring prospectus in the next few months, joining a growing list of startups preparing to tap capital markets as the nation’s digital economy booms. Founded in 2010, Snapdeal is India’s leading value e-commerce platform that has over the years helped Indian e-commerce grow beyond just brands and urban users.

Nearly 80 per cent of Snapdeal’s users come from non-metro locations highlighting its deep reach across the length and breadth of the country. It hosts a wide selection of good quality, value-priced merchandise across fashion, home, beauty and personal care, general merchandise, and other categories. With more than 200 million app installations, it is one of the top online shopping destinations in India.

Snapdeal’s fashion sales grew by 210 per cent in the first six months of 2021. The growth was driven by users replenishing their wardrobe to meet work-from-home clothing needs.

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29th October 2021, Mumbai:

The Indian consumer and retail sector is all set to bounce back strong with e-commerce gaining a stronghold in the post-Covid-19 world, says a Grant Thornton Bharat survey.

Increased consumer confidence and heightened optimism are backed by a mass vaccination drive, better spending capacity, and an uptick in economic activity. Consumers are increasingly engaged in both digital and physical touch-points to make informed decisions.

Clothes and accessories (28 percent) and mobile phones (25 percent) have the highest share of the pie in items people prefer buying online. There is a preference toward buying luxury branded products online, hinting at the level of trust that these e-commerce portals hold. Businesses may need to adapt to such a buying shift rather than chase new store openings for driving sales.

An increasing number of consumers are becoming environmentally conscious and socially responsible. There is a great opportunity for local manufacturers, as people are more attracted to locally sourced products.

As many as 62 percent of the respondents said that mentioning the country of origin of a product would impact their buying decision. So companies need to now spend a higher share of their budget on products that don’t or least harm the environment.

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