Textile

Sale of Shein products in India was never banned, Piyush Goyal tells LS

Sale of "branded products" from Chinese online fast fashion brand Shein was not banned, though its app was blocked on June 29, 2020, Parliament was informed on Tuesday. Shein was one of the apps to be banned by Ministry of Electronics and Information Technology (MeitY) in June 2020 after tension with China escalated on the Himalayan borders. "Sale of Shein-branded products in India was not banned," Commerce & Industry Minister Piyush Goyal said in a written reply in the Lok Sabha. The country's leading retailer Reliance Retail Ventures Ltd (RRVL) through its subsidiary RRL (Reliance Retail Ltd), has entered into a technology agreement with Roadget Business Pte Ltd, which owns Shein based in Singapore to develop an indigenous e-commerce retail platform, he said. This platform is intended to create a network of local manufacturers and suppliers who will manufacture products under the brand Shein and sell them domestically and globally. "It is expected that this will help in the ...

Textiles giant Trident Group plans to invest Rs 3,000 cr in Madhya Pradesh

Textiles major Trident Group plans to invest Rs 3,000 crore in Madhya Pradesh to expand its operations in the state resulting in 3,000 new jobs, its Chairman Rajinder Gupta said on Monday. The Ludhiana-based vertically integrated textiles firm currently has operations involving sourcing cotton to produce finished goods in the state, it said in a regulatory filing. "We ventured into Madhya Pradesh a few years ago and invested Rs 5,000 crore. Today, our finished products from Madhya Pradesh are exported to 122 countries, with demand continually rising," Gupta said while speaking at the Madhya Pradesh Regional Industry Conclave. Looking ahead, Gupta said the group "plans to invest an additional Rs 3,000 crore in the state's textile sector which will expand employment opportunities here at Trident Group from the current 12,000 to over 15,000". He further said, "We are committed to ensuring that the benefits of our operations stay within Madhya Pradesh, from sourcing cotton to producing

Bihar aims to become major player in textile sector through policy support

The Bihar government is aiming to transform the state into a thriving hub for textiles by creating enabling environment through policy support and better infrastructure, a senior government official said. The state government is making efforts to position Bihar as a crucial player in India's textile and leather industries with the overall objective of generating large-scale employment opportunities. Officials from the Department of Industries recently visited Tamil Nadu to study the textile and leather sector, with a view to gain actionable insights and also forge strategic collaborations, the state government said in a release on Friday. A delegation from the department visited Tiruppur, a global textile manufacturing centre, to engage with leading manufacturers and industry experts. The delegation gathered valuable insights into advanced technologies, efficient processes and best practices that have transformed Tiruppur into a global leader. Alok Ranjan Ghosh, Director of ...

Cotton exports likely to double to 2.85 mn bales in 2023-24 season: CAI

Cotton exports are expected to almost double to 28.50 lakh bales in the 2023-24 season against 15.50 lakh bales in the previous crop year 2022-23, as the average prices of Indian cotton were cheaper in the world market, Cotton Association of India (CAI) said on Tuesday. "Indian cotton was ruling at a much cheaper rate during February-March compared to the global market. During this period, a lot of exports took place, including 20 lakh bales to neighbouring Bangladesh," CAI president Atul S Ganatra told PTI. He said that for the current season, which starts from October 1, the average rate of cotton is Rs 57,500 per candy, while in the previous year, it was Rs 62,500 per candy. Meanwhile, the total production estimated by the CAI Crop Committee for the season 2023-24 stood at 325.29 lakh bales compared to 318.90 lakh bales in the previous season. The cotton imports are now projected at 1.10 lakh bales higher than the previous estimates. CAI has reduced its domestic consumption ...

Uttar Pradesh Textile park nets investment proposals worth Rs 10,000 cr

Companies looking to set up units in the UP Textile Park spanning 1,162 acres include Reliance Industries, Arvind Mills, Vardhman and Ahuja Textile Mills, among others

India's manufacturing under-performance Part 1: New clue from multi-plants

One of the most intriguing and relatively undocumented developments of the last 20 yrs has been "multi-plants," whereby a single firm operates not one but multiple production facilities within a state

With long-term vision, I aimed at creating 3 separate businesses: Singhania

Singhania says he has laid the groundwork for a promising future

Raymond Lifestyle expands board size to 10 members ahead of listing

RLL, a branded textile and apparel company, is expected to list in early September. The company was hived off from Raymond last month

Govt may overhaul PLI schemes: Quarterly incentive payments on the table

In a bid to cut the delay in processing incentive claims, the government is looking at switching to a quarterly disbursement of incentives

LS polls: Tumkur hopes yarn will spin again for its textile industry

The sector is facing multiple challenges like labour shortage, falling exports and bureaucratic delays

Textile unit invests Rs 120 crore in Kathua, to employ 650 youths

Bloomtex Industries is one of the industrial units that has set up their unit in SIDCO, the new industrial estate at Kathua's Bhagthali

Over 1 lakh people attend textile expo 'Bharat Tex'; 63 MoUs announced

Over one lakh trade visitors attended the four-day mega textile expo 'Bharat Tex', where 63 MoUs were announced in various fields, including entrepreneurship, skilling and sustainability, the government said on Friday. India's largest global textile event 'Bharat Tex 2024', organised at two venues -- Bharat Mandapam and Yashobhoomi, concluded on February 29. "The four-day event, which was inaugurated on 26 February 2024 by Prime Minister Narendra Modi at Bharat Mandapam witnessed an overwhelming response not just from Indian, but also global players, including top brands and retailers," an official statement said. Over 10,000 artisans, weavers, design and fashion students, factory workers, NGOs and producer companies visited and participated in the Bharat Tex 2024 as special invitees. Built on the twin pillars of trade and investment and a focus on sustainability, the 4-day event attracted, besides policy-makers and global CEOs, 3,500 Exhibitors, 3,000 Buyers from 111 countries and

Piyush Goyal urges textiles industry to work on long road map for sector

Union Minister Piyush Goyal on Monday asked the textiles industry stakeholders to work on a long roadmap for growth of the sector, "which has huge potential". The textile minister said the industry needs to focus on the world market as it would help make the sector competitive. "We are looking at a team working from across sectors to prepare the roadmap for India," he said at textiles industry function here. He said the Indian economy is likely to reach USD 35 million by 2047, "so we have to see what will be the share" of textiles in that.

Patnaik lays foundation stone for Rs 3,000 cr textile facility in Cuttack

Odisha Chief Minister Naveen Patnaik on Saturday laid the foundation stone for the Rs 3,000-crore Welspun Group's Integrated Textiles Manufacturing Facility and Warehousing Complex at Choudwar in Cuttack district. The proposed complex is expected to create employment for over 10,000 people in and around Choudwar region. Speaking on the occasion, Patnaik said once the complex comes up, Choudwar will get back its glory of being the textile hub of Odisha. "Choudwar was developed as an industrial hub by former chief minister Biju Patnaik in the 1950s. Today, once again, a new history has been created in Choudwar," Patnaik said. The CM also informed that cotton farmers in the districts of Kalahandi, Bolangir, Rayagada and Gajapati will benefit from the complex, which will also provide employment opportunities for women. "Women will be provided skill training," he said. The state industrial department and Industrial Promotion and Investment Corporation of Odisha (IPICOL) had given a ...

PLI scheme's progress slows in key sectors, affecting manufacturing goals

Even as the investment exceeded the government's estimate in the previous financial year, progress was not uniform across all schemes

'Textiles, pharma powered industrial revolution in Gujarat in past 20 yrs'

A land of vibrant cultural heritage and traditions, Gujarat has undergone industrial evolution in the last two decades riding on the success of key sectors like textile, pharmaceuticals, diamond and fisheries, officials have said. Gujarat has become a global powerhouse in the textile, apparel and garment sectors by contributing over 60 per cent of India's denim fabric, spurred by the state's textile policy launched in 2012. Since then, the size of its textile exports has grown 2.3 times, they said. The growth in textile manufacturing has positioned Gujarat as a driving force in the country's economic growth, officials said ahead of the state's big-ticket Gujarat Vibrant Global Summit, which will be held next week. To take advantage of our future, we will have to invest in the local supply chain. This is the way to build a developed India, and this is the way to fulfil the dream of a developed India to fulfil the dream of a $5 trillion economy, Prime Minister Narendra Modi had said

Bombay Dyeing Q2 result: Loss after taxes reduced to Rs 51.99 crore

Bombay Dyeing & Manufacturing Co Ltd on Thursday reported a narrowing down of its consolidated loss after tax of Rs 51.99 crore for the second quarter ended September 30, 2023. The company had posted a net loss of Rs 93.02 crore in the July-September period a year ago, according to a regulatory filing from Bombay Dyeing & Manufacturing. Its revenue from operations fell 40.87 per cent to Rs 440.60 crore during the quarter under review as against Rs 745.22 crore in the year-ago period. Total expenses for the September quarter were at Rs 581.11 crore, down 33.48 per cent. Bombay Dyeing & Manufacturing's total income in the September quarter was Rs 457.12 crore. Its income from the Real Estate segment declined to Rs 80.60 crore in the September quarter FY24 in comparison to Rs 280.48 crore. Similarly, revenue from the Polyester segment stood at Rs 344.19 crore as against Rs 449.24 crore in the corresponding quarter. However, revenue from Retail/ Textile grew Rs 15.81 crore ...

Zydex eyes 15-20% revenue growth to Rs 375 cr across all verticals in FY24

Specialty chemicals company Zydex Group is eyeing 15-20 per cent growth in revenues to Rs 375 crore from all its verticals including road, textile, agro, water proofing and paints in 2023-24 compared to previous fiscal year. Talking to PTI, Chairman and Managing Director Zydex Group Ajay Ranka said,"We are expecting 15 to 20 per cent revenue growth in all business verticals during 2023-24 compared to 2022-23." He said the company gets 35 per cent revenue from road vertical, 35 per cent from textiles, 10-12 per cent agro, 14-15 per cent from waterproofing and 3-4 cent from paints business. About the staggering impact of the pandemic (which hit in March 2020) on the businesses, Ranka said though market sentiments have improved, the textile sector is doing poor since October 2022. Rest of the sectors are however growing post pandemic. "Organic growth of the company is expected in the next two years beyond which inorganic growth will be looked into, once business verticals stabilize an

Punjab govt to constitute industrial advisory commissions for 26 sectors

The Punjab government has recently issued a notification for constituting industrial advisory commissions for 26 sectors aimed at promoting holistic business development in the state. According to the notification, each advisory commission will be headed by a renowned person from the relevant industrial sector who will hold a rank equivalent to that of a cabinet minister. The commission will have industry representatives who will be nominated by the government, it said. The advisory commission is meant for several sectors, including textile, machine tools, sports goods, agri and food processing, rice milling and processing, bicycle and bicycle components, agriculture machinery and equipment, pharmaceuticals, alloys and steel, auto and auto components, and electronics. Information technology, paper and paper-based packaging units, plywood and wood products, hotels and hospitality, plastics and chemical products, logistics, construction materials, retail and service industries, ...

Grasim Industries to raise Rs 4,000 crore through rights issue of shares

The fund raise comes a month after of the textile-to-chemicals maker announced plans to enter the paint business under the brand name 'Birla Opus' in the fourth-quarter of fiscal 2024