Textile Sector

Textile key source of economic livelihood after agriculture: Giriraj Singh

Union Textile Minister Giriraj Singh on Wednesday night said the textile sector turning into another key source of income for the people after agriculture. Speaking at a road show in the run up to the Bharat Tex 2025, the Global Textile Expo in New Delhi in February, Singh said 4.6 crore people are employed in the textile sector in the country at present, which is substantially higher from the figure before 2014. "Going by the roadmap by 2030 the number of people sustaining from the sector will reach the six crore mark in 2030," he said. Underscoring that the Narendra Modi government has made innovation as the bottomline for the goal of 'Atma Nirbhar Bharat', he said "Before 2014 there was no start up whereas now 1.5 lakh people are associated with start-up ventures." Singh said a new concept of technical textile has added a new dimension and it has greatly benefited the medical sector churning out products like sanitary napkins and masks. Singh said by 2030 AD, 13 million tonnes

This garment stock has rallied 44% in 2 days; zoomed 114% from June low

Shares of S.P. Apparels hit a new high of Rs 1,133, as they surged 20% on the BSE in Wednesday's intra-day trade amid heavy volumes.

Don't buy textile stocks on Bangladesh crisis, wait for dips: Analysts

Bangladesh crisis news, textile shares: This will provide a sentimental boost for related stocks, though the rally should not be chased on this trigger alone, analysts said

Crisis in Dhaka: Strategies for stocks of companies related to Bangladesh

Analysts believe, Indian textiles companies are likely to benefit from the Bangladesh turmoil, while that of FMCG and auto may take a hit. Here's a technical outlook on key stocks from these sectors.

A ray of hope for Indian biz in Bangladesh after top court order

Bilateral trade at a standstill, operations of Indian companies halted due to the turmoil

Budget Watch: Textile sector seeks a stitch in time as govt mulls tax cuts

Budget 2024: Centre is considering tax incentives and other measures to support the textile and apparel industry, including reducing customs duties on imported cotton and revising the PLI scheme

Arvind Ltd Q4 result: Profit rises by 7.32% as demand remains steady

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

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

Bharat Tex: What is 'Five F' roadmap, Centre's plan to boost textile sector

To boost the textile sector's capabilities, India is organising a four-day event, 'Bharat Tex 2024', a global textile event being held at Delhi's Bharat Mandapam

'Govt to increase exports of 10-11 sectors from $160 bn to $500 bn by 2030'

The government is working on boosting domestic manufacturing and increasing exports to USD 500 billion by 2030 from 10-11 sectors, including automobiles, pharma, textiles, medical devices and chemicals, a senior official said on Thursday. These issues were discussed during a meeting called by the Commerce and Industry Ministry on Thursday. The meeting was convened by the Department of Promotion of Industry and Internal Trade (DPIIT) in collaboration with Invest India and SCALE (Steering Committee for Advancing Local Value-Add and Exports) Committee to unveil outcomes and recommendations made during the Chintan Shivir for Manufacturing, held on October 12 at Bharat Mandapam here. The 11 sectors are auto components, automobiles (including EVs), capital goods, chemicals, drones, medical devices, aerospace and defence, leather and footwear, textiles, and space. "We are looking at investments in these sectors. We will drill down to each of the areas to see how to promote manufacturing

Indo Count surges 8%; stock nears record high on strong Q2 results

The company registered its highest-ever quarterly revenue, volumes and Ebitda during the September quarter.

Alok Industries up 13% in muted market as 116 million shares change hands

On August 14, billionaire Mukesh Ambani-owned Reliance Industries said it would likely invest around Rs 14,200 crore in its subsidiaries in the current financial year

Textile stocks in demand; Gokaldas, Indo Count, KPR surge up to 6%

Government initiatives like signing of FTAs with multiple countries & stability in export incentive policy to provide robust opportunities for Indian exporters.

Welspun India soars 13%, hits 52-week high on 7x YoY jump in Q1 PAT

So far this calendar year 2023 (CY23), the stock has rallied over 45 per cent, as against an 8 per cent jump in the S&P BSE Sensex

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

TMS Ep485: ITC hotel demerger, Russian crude oil, textile stocks, demerger

What does demerger of hotel biz mean for ITC? Are the days of cheap Russian crude over for India? Why are analysts wary of textile stocks? What is demerger? All answers here

Falling demand, strong price competition pushing textile market into crisis

Many believe that two major reasons for erosion of India's global competitiveness are the 11 per cent import duty levied on cotton and high volatility in cotton prices during the last two years

Gokaldas Exports rises 9% to hit 52-week high on hopes of better outlook

The management highlighted that most US customers could start buying from Q3FY24 for the next season and overall demand should improve from Q4FY24.

Govt to form ESG taskforce, finalise contours of PLI for textile: Goyal

The government will form an Environmental, Social, and Governance (ESG) taskforce for the textiles sector to enhance its credibility in view of India's own commitment to sustainability, Union Minister Piyush Goyal on Saturday. Talking to reporters, the Minister of Commerce & Industry and Textiles also said that the contours of the Production Linked Incentive (PLI) scheme for the textile sector will soon be finalised and taken up for approval at the higher level. The ESG taskforce which will look at environmental, social and governance issues in the textile sector as credibility is becoming more and more important and exporters shared that they were getting twice the value for the same product if it is a sustainable product. "We have discussed that textile will also contribute to that and this group will come up with suggestions which will help the textile sector become more sustainable in their current operations and also look for more opportunities in sustainable textiles," said .

Modi govt to set up 7 mega textile parks, generate over 2 mn jobs

The scheme was announced in October 2021, and the parks will be set up by 2026-27. The total outlay for the project is Rs 4,445 crore