Page 2 - Textile & Apparel Exports

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

Govt notifies extension of RoSCTL scheme for textile exporters

The government on Friday notified RoSCTL scheme for textiles exporters and said duty credit scrips under this support measure would be issued without insisting on realisation of the export proceeds

Apparel Export Council wants skewed trade pacts with EU, UK and US reviewed

Says country's apparel exports can double in three years if disadvantages in trade pacts are removed and positive sentiment leveraged

Textile exports plunge 73% in Apr-May on domestic, overseas lockdowns

The sharp decline has impacted entire value chain of cotton farmers, ginners, spilling mills, fabric makers and textile and apparel producers

Coronavirus impact: Textile companies fear FY21 will be a washout

Most units say there are no orders as retailers haven't resumed operations

Textile & apparel exports jump 38% in October on higher overseas demand

India's textile and apparel exports stood at Rs 203.53 billion for October 2018 as against Rs 147.79 billion in the corresponding month last year