Page 2 - Textile Industry

Textile firm AB Cotspin plans ₹1.5k cr investment to expand mfg capacity

Integrated textile firm AB Cotspin India has announced plans to invest up to Rs 1,500 crore to significantly expand its manufacturing capacity. The investment will be funded through a combination of bank financing, internal accruals, and government incentives, ensuring a robust and balanced capital structure, the company said in a stock exchange filing. The expansion project will involve the addition of approximately 2,00,000 spindles to the company's existing capacity of 50,832 spindles, effectively doubling its production scale, the Bathinda-headquartered firm said. The new capacity will be established across India, with key locations in Madhya Pradesh and Maharashtra, and is expected to become fully operational within the next three years. "This strategic project covers a wide spectrum: acquiring land on lease; setting up state-of-the-art manufacturing plants for spinning, ginning, yarn manufacturing, and processing; developing modern warehousing and logistics infrastructure; an

India could fill gap left by China in Japan's garment market: AEPC

India has the potential to fill the gap left by the declining share of China, the largest exporter of ready-made garments to Japan, the Apparel Export Promotion Council (AEPC) said on Friday. It also said that the council is leading a high-level delegation to Tokyo to explore opportunities for boosting exports and attracting investments by engaging with leading Japanese brands and retail chains. The delegation will participate in the India Tex Trend Fair, to be held in Tokyo, from July 15-17. More than 150 apparel exporters from India will be participating to display a diverse range and variety of domestic apparel products at the fair. "The council will be taking a high-level delegation to Tokyo to explore the possibilities of enhanced trade and investment by engaging deeply with top Japanese brands and retail chains," AEPC Chairman Sudhir Sekhri said. Sekhri said that deeper engagement with the Japanese market has resulted in greater utilisation of the free trade agreement betwee

Govt working on a separate PLI for garments: Textile minister Giriraj Singh

The Indian textile industry, which was worth $112 billion a decade ago, has grown by nearly 60 per cent to $176 billion today and our target is to grow it to $350 billion by 2030, says Giriraj Singh

Textile industry knits business with AI as companies adopt technology

AI-enabled machines have features like precision stitching and predictive maintenance for improving production

Centre sets up a new task force to boost country's textile exports

The discussion touched upon a wide range of issues affecting the textile value chain

India threads trade advantage as US reciprocal tariffs fray textile majors

The advantage could grow if trade negotiations lead to zero-duty cotton imports. Under Trump's tariff plan, Vietnam's textile exports will face a 46% duty, Bangladesh's 37%, and China's 54%

Trump's 27% tariff on Indian exports: Who gains and who takes the hit?

The US Trump administration has levied a flat 27% tariff on Indian goods with some exemptions. Here how domestic players have been impacted

Sick units in Uttar Pradesh to make way for auto industry, IT parks

These defunct mills are scattered across Sitapur, Fatehpur, Prayagraj, Ghazipur, Farrukhabad, and Bulandshahr districts

Trump tariffs unlikely to impact rising Indian textile exports, say experts

In terms of tariffs on textiles and clothing, while India imposes a 10.4 per cent tariff on US imports, the tariff for Indian importers in the US is 9 per cent

At planning stage for greenfield expansion in India, says Trident CEO

Home textiles major Trident Group is charting out plans for greenfield expansion in India, which is gradually emerging as a quality and brand sourcing hub, while domestic consumption is also expected to multiply going forward, according to its CEO Samir Joshipura. The group, which has earmarked Rs 1,000 crore capex for FY26 for sustainability, modernisation, and asset enhancement initiatives, is currently at a planning stage for its expansion plans in India and is likely to announce it sometime next year, he told PTI. "We are in a planning phase, but year after, we are going to look at certain significant greenfield expansions...We have the scope of investing heavily, but we are not blindly going out...," he said. Explaining the reasons for a studied approach, Joshipura said, "India is also at a phase where, at the macroeconomic level, global economic level, we are going through a transition as a country from so-called low-cost sourcing hub to a quality and brand sourcing hub. Also

EU, Ministry of Textiles launch 7 projects in 9 states to boost industry

According to the press release, as many of these projects will also support local communities and industries, they are expected to economically empower around 200,000 women

PM Modi to address Bharat Tex fair 2025, over 110 nations participating

Apparel Export Promotion Council (AEPC) on Saturday said that more than 110 countries, including Japan, UAE, Iran, USA, Spain, and the UK, are participating in the Bharat Tex 2025, a global event being held from February 14-17 at Bharat Mandapam here. AEPC Chairman Sudhir Sekhri said that a large number of global brands and retail chains have come to attend the fair. "Japan has the largest number of apparel buyers represented in this show, followed by UAE, Iran, USA, Spain, UK, South Africa, Russia and Australia," he said, adding, "the presence of international delegations will further strengthen India's positioning as a reliable partner in the global textile market." Bharat Tex platform is the textile industry's largest and most comprehensive event comprising a mega expo spread across two venues and showcasing the entire textile ecosystem. Minister of Textiles Giriraj Singh inaugurated the fair on Friday. Minister of State for Textiles Pabitra Margherita, Textiles Secretary Neela

Economic Survey backs MMF shift as India lags in global textile production

The survey stated that the dominance of MSMEs limits scale and efficiency, while the sector's fragmented nature increases logistical costs

Textile hub Tiruppur threads a recovery on sliding rupee as exports surge

What's driving this surge? Partly, it's the rupee's depreciation versus the dollar, down nearly 3 per cent in 2024, which has made India's exports more attractive on the global stage

Sanathan Textiles IPO worth Rs 550 cr gets 1.43 times subscription on Day 2

The initial share sale of yarn manufacturer Sanathan Textiles Ltd garnered 1.43 times subscription on day two of bidding on Friday. The initial public offering (IPO) received bids for 1,80,43,086 shares against 1,26,22,950 shares on offer, according to NSE data. Retail individual investors (RIIs) quota got subscribed 2.15 times while the category for non-institutional investors collected 1.53 times subscription. Qualified institutional buyers (QIBs) portion fetched 9 per cent subscription. Sanathan Textiles on Wednesday said it has mobilised Rs 165 crore from anchor investors. The issue, with a price band of Rs 305-321 per share sale, will conclude on December 23. The company's Rs 550-crore IPO is a combination of a fresh issue of equity shares aggregating up to Rs 400 crore and an offer for sale (OFS) of shares valued Rs 150 crore by promoters and promoter group entities. The company plans to utilise proceeds from its fresh issue worth Rs 160 crore for payment of debt, while Rs

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

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

Alok Industries Q2: Loss widens to Rs 262 cr; revenue dips to Rs 885.6 cr

Textile manufacturer Alok Industries on Monday said its consolidated net loss widened to Rs 262.10 crore for the second quarter ended September 2024. The company had posted a net loss of Rs 174.83 crore in the July-September period a year ago, according to a regulatory filing from Alok Industries, jointly owned by Reliance Industries and JM Financial Asset Reconstruction. Its revenue from operation fell 35.46 per cent to Rs 885.66 crore during the period under review. It was Rs 1,372.34 crore in the corresponding period a year ago. The total expenses in the September quarter declined 25.45 per cent to Rs 1,160.63 Alok Industries' total income, including other income, was down 34.97 per cent to Rs 898.78 crore in the September quarter. Reliance Industries owns a 40.01 per cent stake and 34.99 per cent by JM Financial Asset Reconstruction Company in Alok Industries, which operates in-home textiles, cotton yarn, apparel fabric, garments, and polyester yarn. Shares of Alok Industrie

TN readymade garment exporters' profit may rise by 8-10% in FY25: CRISIL

Readymade garment exporters from Tamil Nadu are likely to see 8-10 per cent growth in revenue to Rs 43,000 crore in this financial year on healthy order flow amid rising demand conditions, a report said on Friday. The industry has seen signs of recovery in Tamil Nadu after two years of subdued demand and muted realisations and is expected to fare better than the national level where revenue growth is expected to be 3-5 per cent this fiscal. Operating profitability will improve 25-30 basis points (bps) on better operating leverage, marginal increase in realisations and stable yarn prices, Crisil Ratings said in a report. "Tamil Nadu readymade garment industry, which accounts for over 30 per cent of readymade garment exports from India, will see volume grow 6-7 per cent in the current fiscal. Growth will be driven by the Tirupur region, the knitwear hub of India, supported by improving demand from the US and Europe. "The government's plan to review the Production-Linked Incentive (PL

Sustaining the cotton revolution is vital for the textile sector's growth

Urgent measures are imperative to rejuvenate the cotton revolution through inducting new genetically engineered seeds and modern technology