5th October 2021, Mumbai:

(SGCCI) Southern Gujarat Chamber of Commerce and Industry president Ashish Gujarati like many trade experts including the new Textile Minister has reiterated that "someone loss is someone gain" so brewing China's Power Crisis' can be opportunistically be exploited in the Indian Textile industry favour given our fundamentals.

Additionally, the reported shortage of coal supplies in our neighboring country, toughening net carbon emissions standards, and robust better than expected demand from the industry both in its domestic & global exports standpoint have led to a historic unabated increse in coal prices in China enforceable widespread curbs on its usage are all fundamental tailwinds for Indian textile sector.

The triggered short to mid-term hose industries running with the raw materials imported from China will have to chart out strategies as there would be potentially a shortage of supply given precarious supply shocks been witnessed there.

Experts opine India has got shy of 5% global share in textile sector v/s China has roughly 35% as small as 0.5% of China share slippage India almost doubles down its global share so the bottom line is there is a huge opportunity knocking at our door.

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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29th September 2021, Mumbai:

The National Company Law Tribunal (NCLT) on Tuesday gave a nod to Kishore Biyani-led Future Group firms to conduct meetings of its shareholders and creditors seeking a nod for the assets sales to RIL.

A Mumbai-based two-member NCLT bench comprising Suchitra Kanuparthi and Chandra Bhan Singh rejected the application filed by e-commerce major Amazon India contesting the scheme of merger of the Future group companies.

To put it in perspective Amazon had earlier filed an application contesting tooth & nail NCLT considering the scheme pending completion of its arbitration proceedings against (FRL) Future Retail.

The NCLT also observed that the Supreme Court (SC) had only restrained it from issuing the final order approving the scheme.

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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23nd September 2021, Mumbai:

Raymond is the largest OTC branded fabric player in the organized shirting and Raymond Group is also considered amongst the Top 3 leading players in the menswear segment unveiled the launch of its latest vibrant, playful & colourful collection of shirting fabrics – ‘Vibez’.

Towards this Raymond has hired & engaged celebrated designer SuketDhir. A famed designer enjoys envious honour & recognition in global fashion and he has helped curate an exclusive 'Raymond Vibez' collection.

Raymond Vibez tends to gain inspiration from nostalgic Indian motifs and seamlessly combines them with highly contemporary topical aesthetics and is pretty experimental boldly experiments with versatile colour palettes.

S. Ganesh Kumar, COO, Raymond Lifestyle Business avers; “As thankfully Covid third wave fear unwinds, consumers confidence & the spends are back and increasing stress on casualization is the fundamental tailwind for our business prospects and numbers at the onset of festivity". 

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1st October 2021, Mumbai:

With the peak season for round the corner The Textile Hub Town 'Tirupur' (T.N.) garment units are expecting if everything goes right better than pre-Covid level business.

Tea, President Raja M Shanmugam said close to Rs 28,000 crore business happened in 2019-2020 while God willing we are set to cross Rs 30,000 crore given the exporters' booking pipeline. Despite container shortage playing a spoilsport.

Tirupur exports basket comprise of casual wear and the spike in order/ order pipeline is robust given the present trend. To share the context Tirupur as a clothing hub is home to roughly 1,500 to 2,000 direct export units and another 10,000 to 12,000 subsidiary units like embroidery, dyeing, and knitting as a part of eco-system/ supply chains.

Secretary of Tirupur Exporters and Manufacturers Association (Teama) G R Senthilvel also is very constructive on the present apparel exports scenario and centre exports garments predominately to come from European, American and a few gulf countries.

Industry experts are of the strong opinion given China+1/ China credible alternate strategy gaining currency, Tirupur Technically can stake a claim as the opportunity presents itself at this juncture.

Considering that centre is sound in manufacturing, continuous up-gradation of existing technology has been well accepted as in way forward here, besides reskilling & stress on harnessing the requisite skillset is what gives confidence to experts today than ever before.

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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25th September 2021, Mumbai:

Nike’s newest partnership in its retail transformation journey opens in NCR, India on the 25^th of September. Located in the heart of Noida at DLF Mall of India –– India’s largest mall –– the Nike Mall of India store features the latest retail and architectural designs used in new Nike stores around the world.

The two-story, 743-square-meter store is a fully equipped to serve athletes* through membership offerings which enabling consumers to make sport a daily habit.

Nike members can enjoy exclusive products, as well as gain early access to new products and Nike events ahead of the public. Operated by Nike Partner, RJ Corp, the Nike Mall of India store includes the latest and most extensive range of Nike merchandise in the region, with comprehensive offerings for Men’s, Women’s and Kids. With product offerings across running, training, lifestyle, basketball and Jordan, this door is the destination for Nike’s best product innovation in the city. Footwear trialing and bra fitting services are also available for consumers.

“We believe that brick-and-mortar spaces remain integral for consumers to achieve the best brand experience. With the opening of Nike at Mall of India, we are set to propel our consumer-direct strategy through the integration of digital and physical retail.

The best Nike products and offerings have been carefully selected for this community, and the store has been conceptualized with multiple touch points for a fully immersive and seamless Nike experience that is personalized and unique.”  - Tarundeep Singh, Senior Director Nike Stores, SouthEast Asia & India.   

Throughout the pandemic, Nike has doubled down on digital and membership to better serve consumers. Through innovative concepts and a connected marketplace strategy, Nike and partner stores are creating the future of retail.

TOP 5:

1. 'CMAI' urges government to review GST rates increase on fabrics and garments

2. Raymond launches new collection with designer 'Suket Dhir'

3. Amitabh Bachchan roped in as 'VKC Group’ new brand ambassador

4. 'Manyavar-Mohey' receives flak for advertisement featuring Alia Bhatt

5. GOVERNOR OF MAHARASHTRA HONOURS KAPIL PATHARE WITH BUSINESS EXCELLENCE AND VIP INNERWEAR AS BEST BRAND 2021-22

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22nd  September 2021, Mumbai:

As per the recent GST meeting to fix the inverted duty structure which is an anomaly existing in the Textiles sector by revising GST rates in this sector resulting in the potential increase of up to 7 percent V/s the current position.

The associations & garment traders responding to this likely overshooting of prices have raised serious concerns. The most credible voice of domestic apparel manufacturing fraternity CMAI including CITI ex-president have unequivocally expressed the simple math of this measure that 85 percent of garments sold in India are priced below Rs 1,000. 

Back of the envelope calculation lays bare that continued increased prices of the raw materials had resulted in a hike in prices of readymade clothes (RMG) by roughly 20 percent/ or so over the last 12-15 months, and in this elevated prices state it is no brainer to mention that any further increase is only going to hit apparel & clothing sales & demand going forward.

The logic behind this is that raw materials such as man-made yarn and fabrics used in the manufacture of garments attract GST at the rate of 12 per cent. Hence there are problems with an input tax credit (ITC); As at present five percent GST is levied on cotton yarn and fabric, but under the new decision, 12 percent GST will be imposed on garments made from cotton, and incremental cost rise.

The likely effect is going to be from January 1st,2022 albeit it is not officially been notified as yet.

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30th September 2021, Mumbai:

The central government has extended yesterday extended the ₹4.5 lakh crore 'Emergency Credit Line Guarantee Scheme' (ECLGS) to support MSMEs which is the backbone of our manufacturing eco-system and as a validation yesterday Hon'ble Commerce Minister, Piyush Goel categorically stated this sector contributes close to 97% of India's exports.

The Ministry of Finance also announced that the date of disbursement under the scheme has also been extended to 30 June 2022, and it is pertinent to mention here that Loans sanctioned under the ECLGS have crossed ₹2.86 lakh crore. The ECLGS which was to principally expire on September 30 and has already helped a robust number of 1.15 crore micro, small and medium enterprises (MSMEs) up until now. 

"This is on the back of consistent insistence & perennial demand from various industry bodies and multi-stakeholders urging & requesting to extend the scheme enabling continued help & support to eligible businesses across sectors,”

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine the growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with a new store at DLF Mall of India,Noida

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25th September 2021, Mumbai:

Pandemic has thrown many challenges of different kinds forcing us to hardly look into our wardrobes or checked out the latest fashion trends as Fashion in the COVID-19 era has become understated-yet-elegant with more focus on comfort, leisure and in some sense casulisation was the fundamental tailwind.

THE ART OF REVENGE DRESSING 2021. After all how do we explain, Revenge Dressing,"Pandemic revenge dressing is all about melodrama and quirky expression".

New normal of WFH (Work from home or nearing that situation) nudging many have just slipped out of one pyjama into another syndrome. So much so that at the most, we have experimented with ‘waist-up looks/ fashion syndrome for that inevitable video/ zoom call. 

TOP 5:

1. 'CMAI' urges government to review GST rates increase on fabrics and garments

2. Raymond launches new collection with designer 'Suket Dhir'

3. Amitabh Bachchan roped in as 'VKC Group’ new brand ambassador

4. 'Manyavar-Mohey' receives flak for advertisement featuring Alia Bhatt

5. GOVERNOR OF MAHARASHTRA HONOURS KAPIL PATHARE WITH BUSINESS EXCELLENCE AND VIP INNERWEAR AS BEST BRAND 2021-22

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20th September 2021, Mumbai:

Welspun India a global home textiles player looks at CAPEX of ₹ 800 crores over the next two years aiming to build capacity & capabilities, while stating firmly that there would be no-change to its financial guidance for the current financial year with regard to its Net Debt position which stands at  ₹ 2400 crore for March 31, 2022.

Capex is envisaged around the capacity expansion of its home textiles and flooring businesses. As management contemplates the funds deployed would be by investing ₹ 656.5 crores on its home textiles business expansion during FY'22-23 also intend augmenting its towel manufacturing capacity on the back of strong order pipeline it continues to enjoy.

The management expects benefits of this Capex & slated expansions will start accruing in phases from Q1 FY'23 onwards and going

forward shall help to forge its future prospects.

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29th September 2021, Mumbai:

The government has given nod to today the capital infusion of Rs 4,400 crore to ECGC through five years. The Central government has additionally indicated to have approved the listing of state-owned Export Credit Guarantee Corporation (ECGC) through IPO on the stock exchange.

The underlying logic for going public clearly is to unlock the true value of the company, promote 'people's ownership' thereby create envy for public participation nudging retail investors to look at this financial asset class more sanguinely thus fuel Corporate Governance & accountability.

The Cabinet Committee on Economic Affairs was chaired by Prime Minister Narendra Modi which mandated the listing of Export Credit Guarantee Corporation (ECGC).

It is imperative to state that 'ECGC Limited' is a wholly-owned CPSE of the Government of India to improve the competitiveness of the MSMEs, SMBs, and technology to support the exports out of this sector which is the backbone of Indian exports providing Credit Risk Insurance and related services.

ECGC core motive thus is to hike its maximum liabilities to Rs 2.03 lakh crore from Rs 1 lakh crore by 2025-26 as a stated objective.

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

Return to homepage

24September 2021, Mumbai:

SINI Designs India's Leading Garment Manufacturer & Exporter. Beautiful imaginations converted into reality by hundreds of talented artisans make up this thriving export house of garments and fashion accessories. SINI - a Finnish feminine name meaning 'Blue' is inspired by the name of its Founder & MD - Neetu Singh.

With a vision to create an empire of empowered women, SINI Designs is one of the prominent names bringing accolades to Indian art and culture since 2011. Built around fundamental strengths group has a robust infrastructure in the form of 30,000 sq.ft Manufacturing Facility 'In the heart of Noida'.

The founder has to her credit prominent acclaimed awards & achievements the most recent being "Times Power Women West India 2020" & "Asia's Greatest Leaders 2017". A woman entrepreneur with an illustrious career & rare passionate keeps the group progressively focused on innovations, ingenuity & the founder's philosophy of uplifting society as a larger purpose of life.

TOP 5:

1. 'CMAI' urges government to review GST rates increase on fabrics and garments

2. Raymond launches new collection with designer 'Suket Dhir'

3. Amitabh Bachchan roped in as 'VKC Group’ new brand ambassador

4. 'Manyavar-Mohey' receives flak for advertisement featuring Alia Bhatt

5. GOVERNOR OF MAHARASHTRA HONOURS KAPIL PATHARE WITH BUSINESS EXCELLENCE AND VIP INNERWEAR AS BEST BRAND 2021-22

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18th September 2021, Mumbai:

With the essence of “sustainable fashion for all!” at the core of its philosophy, this initiative is poised to achieve milestones, not witnessed very commonly in the world we live in. Visibly management has its priorities right, in their bits and pieces management is trying to strike the right chord on the social elevation, corporate social responsibility with commercial Eco-space all rolled in one goal.

Having made its presence felt across Uttar Pradesh & Bihar, the budding business concept has already carved a respectable place under the sun for itself while staying focused on the target audience it stands.

The innovation endeavour of Abhishek Pathak from Lucknow, claims to have cloaked around INR 36 mn in annual turnovers & employing around 15 full-time skilled workforces alongside well connected to rural artisans who work along as a part of conscious supply-chain and critical piece of the value chain.

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