Textile & Apparel Exports

Global clothing brands turn to India amid Bangladesh unrest, orders surge

Tiruppur and Noida apparel export industries are witnessing a surge in demand orders from various international clothing brands

Textiles, apparel exports rise 4.73% in July on improved demand: CITI

India's textiles and apparel exports in July grew by 4.73 per cent to USD 2,937.56 million compared to the same month last year mainly driven by an increase in demand for apparels, the Confederation of Indian Textile Industry (CITI) said on Thursday. Textiles and apparel exports stood at USD 2,805.01 million in July 2023, CITI said. While the textile exports were steady at USD 1,660.36 million in July compared to USD 1,663.06 million, apparel shipments during the month surged by 11.84 per cent to USD 1,277.20 million from USD 1,141.95 million during the same time last year. "This year has shown promising progress for India's T&A exports, particularly when compared to last year. The growth in exports is largely attributed to the expanding share of Indian apparel in key markets such as the US, alongside increased exports to the European Union and the UK," CITI Chairman Rakesh Mehra said. The industry, he said, remains optimistic about export orders in the upcoming months, and is ...

Retailers expect to end EOSS with a bang this Independence Day weekend

Apparel and lifestyle retailers' sales have been under pressure since the festive season last year

Automation paves way for women in originally male-dominated mfg sector

With the country moving towards becoming a USD 35 trillion economy by 2047, the manufacturing sector is rapidly adopting automation which is expected to increase recruitment of women, helping companies become more inclusive, a TeamLease Services senior executive has said. "These companies have begun adopting automation in phases in these male-dominated sectors and have started recruitment of women. We expect that with the increase in adoption of automation in these industries, companies will recruit more and more women going forward," TeamLease Services Chief Strategy Officer Subburathinam P told PTI. He further said that, in the manufacturing sector there are several challenges that companies face while becoming more inclusive like the deep-rooted societal norms and discrimination, a lack of diverse role models and leaders, and poor work-life balance. "In India's manufacturing sector, women are significantly underrepresented, making up only about 15-20 per cent of the workforce. ..

Express Inc files for US bankruptcy protection, to close over 100 stores

Fashion retailer Express Inc has filed for Chapter 11 bankruptcy in the United States and intends to close more than 100 stores, it said on Monday

Govt mulls tweaking PLI schemes in textile, food processing, pharma: Report

The government is considering tweaking production linked incentive (PLI) schemes for certain sectors including textiles, food processing, and pharmaceuticals, a senior official said on Tuesday. The official said that a Cabinet note is finalised to seek approval for the changes from the top authorities. The changes would help these sectors attract more players. The scheme was announced in 2021 for 14 sectors, including telecommunication, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell battery, drones and pharma with an outlay of Rs 1.97 lakh crore. While certain sectors like electronics are doing well, others are not performing up to the mark. The government has disbursed Rs 4,415 crore under PLI schemes for eight sectors, including electronics and pharma, till October this fiscal. A total of Rs 1,515 crore was disbursed in FY24 till October, while it was Rs 2,900 crore

Apparel exporters seek tax incentives in Budget to boost manufacturing

Apparel exporters body AEPC on Wednesday sought tax incentives such as uniformity in GST and enhanced interest subsidies to boost domestic manufacturing and India's outbound shipments. The Apparel Export Promotion Council (AEPC) asked to provide tax concessions to apparel manufacturers adopting Environmental, Social, and Corporate Governance (ESG) and other international quality standards and compliances. The council also sought budgetary support for the branding and marketing of made-in-India products. The Budget is scheduled to be presented on February 1. The council said that interest equalisation rates were revised downward from 3 to 2 per cent for non-MSME (Micro, Small and Medium Enterprises) manufacturer exporters under the interest equalisation scheme on pre-and post-shipment export credit. "High cost of capital has been a major bottleneck for the exporting community. AEPC has requested the government to increase the rates under the scheme to 5 per cent for all the apparel .

Extension of RoSCTL scheme for 3 years a dire necessity: AEPC tells govt

Apex body for apparel exporters AEPC on Thursday urged the government to extend rebate scheme, RoSCTL, for three more years, stating that it has become a "dire" necessity, given the current global economic uncertainties. The Apparel Export Promotion Council (AEPC) said market sentiments have touched an "all-time" low and the traditional markets of the US and the European Union (EU) are facing unprecedented recessionary trends. In this backdrop, "the extension of this scheme RoSCTL (Rebate of State and Central Taxes and Levies) beyond 31st March, 2024 has become a dire necessity," AEPC Naren Goenka said in a statement. "This scheme (RoSCTL) has helped the apparel industry immensely to plan the business on a consistent basis while staying competitive," he added. He also asked the industry to focus on innovation and attracting Foreign Direct Investments (FDI). "At present, the apparel industry receives a very low level of FDI, although 100 per cent overseas investment is allowed in t

Indian apparel industry aims to show wares in Australia, UK, US after Dubai

Indian apparel manufacturers are looking to hold exhibitions in world markets like Australia, the US and the UK which have strong diaspora to expand into new geographies, an industry official said. Speaking with PTI after holding the inaugural edition of the annual exhibition in the city, Clothing Manufacturers Association of India (CMAI) chief mentor Rahul Mehta said domestic brands are becoming stronger and more capable with their successes within India and it is necessary to take these brands to newer geographies. "It is time to expose to the international and global market and we felt we should begin with the international market, where the Indian diaspora is in large numbers," Mehta said. At the recently held "Brands of India" in Dubai, there were a total of 350 domestic brands from India exhibiting their wares, Mehta said, terming the response as "tremendous". "Our plan is to have three cycles, at least in Dubai. then, we will go to other markets such as Australlia, US, New .

FTA with Britain, EU will be a game changer for domestic industry: AEPC

The proposed free trade agreement with the UK and the European Union will be a game changer for the domestic industry and will offer a huge advantage for apparel exporters, AEPC said on Saturday. Apparel Export Promotion Council (AEPC) Chairman Naren Goenka said that trade pacts with the UAE, Australia and Japan are providing market access for the sector. "The FTA with the UK will be a game changer for the industry, and the EU will offer a big advantage if we sign an FTA deal," he said. The negotiations for the trade agreement with the UK are in the last stage and talks with the EU are moving at a faster pace. He also said that one of the major issues regarding the poor export competitiveness of Indian apparel is poor economies of scale. The apparel industry comprises 80 per cent of exporters with around Rs 10 crore turnover and the average number of machines in Indian apparel manufacturing units is 250-400, whereas competing countries have an average of 800- 1000 machines. "Also

Textile stocks rally up to 9%; Welspun, Indo Count hit fresh 52-week highs

Despite a slowdown in demand for various sectors, including textiles, Indian exporters are optimistic about a strong performance in 2023-24

Indo Count hits 21-month high, rallies 12% on hopes of strong earnings

Growth in home textiles in India seems quite positive in coming years, driven by healthy export demand with benefits from reciprocal FTAs (free trade agreements).

Uttar Pradesh govt plans to double silk output to expand textile exports

UP produces all three major silk varieties ­­-- mulberry, eri, and tussar. Mulberry silk is produced across 44 districts

High cotton prices, dull demand to keep textile stocks in check: Analysts

With cotton prices at home on the higher end versus global markets, analysts believe that the disparity is affecting India's global competitiveness in the near-term

Raymond Q4 profit falls 26% to Rs 196.5 cr, income rises 10% to Rs 2,150 cr

Diversified group Raymond Ltd on Tuesday reported a 25.84 per cent decline in its consolidated net profit at Rs 196.48 crore in the fourth quarter ended on March 31, 2023, on account of exceptional items. The leading textile and apparel maker had posted a net profit of Rs 264.97 crore during the January-March period of the previous fiscal, Raymond said in a regulatory filing. However, its revenue from operations was up 9.8 per cent to Rs 2,150.18 crore during the quarter under review, as against Rs 1,958.10 crore in the year-ago period. Total expenses of the Singhania family-controlled firm were at Rs 1,939.27 crore, up 17.34 per cent from Rs 1,790.12 crore of the corresponding quarter. Its total income during in the March quarter was at Rs 2,192.20, up 7.89 per cent. "With Q4FY23, Raymond has demonstrated a strong revenue and profitable performance for six consecutive quarters," said Raymond in its earnings statement. During the quarter Raymond registered a loss of Rs 93.03 cro

Despite dip in sales, India's clothing market expands 15% on price hike

The branded apparel segment now accounts for 30% of the market, which was only 25% five years ago

Softening cotton prices turning tides in favor of textile players: Analysts

Increased capacity utilisation, softening cotton prices set to help sector: Analysts

High cotton prices to spoil apparel stocks' outlook in near-term: Analysts

At the bourses, shares of textile stocks like KPR Mills, Welspun India, and Vardhman Textiles have tumbled up to 45 per cent so far this year.

'India's textiles exports can touch $100 bn from current $40 bn in 5 years'

Textiles Secretary Upendra Prasad Singh said the country's apparel industry must focus on vertical integration to increase its scale and size to benefit from the production-linked incentive scheme

Exporters in Tirupur hail RBI holding policy rates at same level

RBI has announced the decision of the MPC to keep the major policy repo rate at 4 per cent and reverse repo rate at 3.35 per cent unchanged