Textile Market

During April-October, Indian textiles exports registered a growth of 4.01 per cent over the previous year while apparel exports registered a growth of 11.60 per cent during the same time

Exports stitch together 13% rise, with 22% jump in August, as Bangladesh crisis leads to growth

Home textiles major Welspun Living Ltd on Monday reported a marginal increase in consolidated net profit at Rs 202.4 crore in the second quarter ended September 30, 2024. The company had posted a consolidated net profit of Rs 200.41 crore in the corresponding quarter last fiscal, Welspun Living Ltd said in a regulatory filing. Consolidated revenue from operations stood at Rs 2,873.09 crore, as against Rs 2,509.08 crore in the year-ago quarter, it added. Total expenses in the second quarter were higher at Rs 2,655.87 crore, as compared to Rs 2,283.42 crore in the same quarter a year ago, the company said. Welspun Group Chairman BK Goenka said Welspun Living posted its highest-ever consolidated quarterly revenues in Q2FY25, growing by 15.5 per cent amid relatively adverse global conditions owing to Red Sea challenges. "Emerging businesses of global brands, domestic consumer, advanced textile and flooring are continuing to flourish from strength to strength and grew 22 per cent in ..

Decision comes after panel flagged funding 'shortfall' in 3 out of 14 sectors

The country's ready-made garment exports (RMG) in August rose by about 12 per cent to USD 1.26 billion despite global headwinds and challenges such as high logistic cost, according to the commerce ministry data. Cumulatively, RMG exports during the April-August period of 2024-25 grew by 7.12 per cent to USD 6.39 billion. Apparel Export Promotion Council (AEPC) Chairman Sudhir Sekhri said that exports are keeping the growth momentum despite global headwinds, persisting Red Sea crisis and other challenges such as high logistic costs. "Growing at an average of 7.12 per cent in the last five months (April to August 2024-25), the RMG exports have bucked the trend of falling merchandise exports which touched a 13-month low in August," he said. He added that with focus on product quality as well as environmental and social compliance, the industry is poised to take a leap into high growth trajectory and be a major global player of garment exports. "I am hopeful that the growth momentum w

Deputy Chief Fire Officer M K Chattopadhyay said that the fire spread due to explosion in LPG cylinder and it has been brought under control

Known for the successful ventures he established, Jamsetji Tata, founder of the Tata Group, did not shy away from taking tough calls and making strategic choices to exit from unviable business as shown by the shutting of Tata Shipping Line in the 1890s, according to a new book. He had started the 'Tata Line', the first ever business of the Tata Group which bore the Tata name, with a view to challenge the monopoly of the English P.&O., the pre-eminent shipping line that carried exports from India during the 1880s and 1890s. The English P.&O. which had the support of the then British India government, had a virtual monopoly on shipping from India and charged Indian merchants exorbitant freight rates, while providing greater rebates on British and Jewish firms thereby creating an uneven playing field for Indians, according to the book titled 'Jamsetji Tata - Powerful Learnings For Corporate Success'. "Jamsetji Tata, who was in the textile business at that time, was adversely ...

Leading textile manufacturer Arvind Ltd on Monday reported a 37.25 per cent decline in consolidated net profit at Rs 43.73 crore for the first quarter ended June 30, 2024, on account of workers' strike and general elections. The company had posted a net profit of Rs 69.70 crore in the April-June quarter a year ago, Arvind Ltd said in a regulatory filing. Arvind Ltd said its revenue from operations declined 1.22 per cent at Rs 1,830.60 crore during the April-June quarter. It was at Rs 1,853.27 crore in the corresponding period of the previous fiscal. "The financial performance and growth of Arvind Limited in Q1 of FY25 were impacted by two unrelated events: the National general election and an illegal worker's unrest," said Arvind in its earnings statement. The unrest impaired the performance at the Santej factory, its largest textile facility, for 21 days. The strike affected the company's main businesses, including the woven segment, denim segment, and the industrial and human ..

The 'recent' suicide' of a weaver at Sircilla in Telangana has brought to the fore the alleged lack of work and adequate income in this textile hub, with the issue leading to a war of words between the opposition BRS and the Congress. Kudikyala Nagaraju recently died by suicide as he was unable to repay his debts and this came as a reminder of the tragedy of weavers ending their lives in the past. While it is being claimed 10 weavers have ended their life so far this year, the government has pegged the number at six, even as the BRS attacked the ruling Congress over the matter. Nagaraju (47), a weaver, took his life by consuming acid at Sircilla recently. "My husband borrowed some amount and failed to repay the lenders. He did not have the livelihood to take care of me and our two sons," Nagaraju's wife Lavanya told PTI. Similar is the story of Adicherla Sai Kumar (25) who committed 'suicide' in April this year as he was unable to repay the money he borrowed. "My brother was work

The government will accord focused attention to promote India's textiles exports, which declined for the second year in a row in 2023-24, Textiles Secretary Rachna Shah said. The government has set an ambitious target to achieve USD 100 billion export for textile products by 2030. The cumulative exports of textiles and apparel from India during April 2023-March 2024 registered a de-growth of 3.24 per cent at USD 34.4 billion, as compared to USD 35.5 billion in April 2022-March 2023. In 2021-22, outward shipments of textiles and apparel were recorded at over USD 41 billion. "We had challenges like the Red Sea crisis making it slightly more challenging," Shah said on the decline in India's textiles exports in 2023-24. Although geo-political challenges remain, the textiles secretary said some exporters have reported improvement in their order books in the first quarter and the shipments are likely to improve in the coming months. "We will be looking at more focused attention on prod

Consolidated revenue from operations in FY24 stood at Rs 7,737.75 crore as against Rs 8,382.48 crore in FY23

Pure Linen Shirts InColours Inspired By The Italian Riviera

Share of Welspun Living's retail and emerging businesses, including flooring and advanced textiles, in its total revenue is also expected to go up by FY27

Organized by a consortium of 11 Textile Export Promotion Councils and supported by the Centre, it emphasizes trade, investment, and sustainability

Prime Minister Narendra Modi will inaugurate Bharat Tex - 2024, one of the largest-ever global textile events to be organised in the country, at Delhi's Bharat Mandapam on Monday. Bharat Tex - 2024 is being organised from Monday to Thursday. Drawing inspiration from the 5F Vision of the prime minister, the event has a unified farm to foreign via fibre, fabric and fashion focus, covering the entire textiles value chain, a statement issued by the Prime Minister's Office said on Sunday. Modi will inaugurate the event at 10:30 am on Monday. Bharat Tex will showcase India's prowess in the textiles sector and reaffirm its position as a global textile powerhouse. Organised by a consortium of 11 Textile Export Promotion Councils and supported by the Centre, Bharat Tex - 2024 is built on the twin pillars of trade and investment, with an overarching focus on sustainability, the statement said. The four-day event will feature more than 65 knowledge sessions with over 100 global panelists ..

The cost of freight and insurance has risen due to ships being compelled to avoid the region and take a longer route around the Cape of Good Hope

Seeing interest from Primark, Marks & Spencer, Tesco, Decathlon

The automobile, electronics, and textile sectors in India have witnessed surge in investment and will lead the manufacturing sector's growth in India, according to a report by Colliers

The second of a three-part series on export slowdown looks at the textile hub in Ludhiana, often referred to as India's Manchester, to understand the setbacks and challenges there

Textile and clothing sectors must have a holistic approach with a long-term vision to seize the opportunity in the global market, industry officials said on Saturday. Textiles and clothing industries are the second largest employment provider after agriculture generating Rs 30,000 crore as Goods and Services Tax revenue and USD 44 billion foreign exchange earnings, officials of Southern India Mills' Association said. The industries have been facing challenges in the recent past mainly due to structural issues on the raw material front, high cost of production, scale of operation among others, SIMA Chairman S K Sundararaman said. The Association would strive to address structural issues and enhance global competitiveness, he said. According to association officials, the NDA government has been giving major thrust for enhancing the global competitiveness of the textiles and clothing industry and addressed several issues. "However, the policy pitfalls in certain areas and delay in ..