Page 3 - Textile Industry

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

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

Singhania says he has laid the groundwork for a promising future

Textile industry, ILO tie up for best labour standards in cotton farms

Around 6.5 million farmers grow cotton in India, which is the world's second-largest producer and consumer of the commodity

Bangladesh crisis poses significant concerns for textile industry: CITI

Bangladesh, which is facing its worst political crisis since Independence in 1971, poses "significant concerns" for India's textile and apparel sector, particularly for companies operating factories in the neighbouring country, the Confederation of Indian Textile Industry said on Tuesday. The domestic textile industry body believes that any supply disruption in Bangladesh will have an immediate impact on the supply chain, potentially affecting production schedules and delivery timelines of Indian firms. "The situation in Bangladesh is indeed concerning, and we are closely monitoring the developments. Bangladesh's growth in the textile sector has been inspiring and has lent strength to the trade flows in the entire subcontinent. "While we are concerned about the impact on the supply chain and the potential delays and disruptions it might cause, we are hopeful that the situation will improve soon," Chandrima Chatterjee, Secretary General, Confederation of Indian Textile Industry (CITI

Trident Q1FY25 results: Textile firm's net profit slips 19.1% to Rs 73.9 cr

Textiles firm Trident Ltd on Wednesday reported a 19.1 per cent decline in its consolidated profit after tax to Rs 73.89 crore for the first quarter of FY25. The company had posted a consolidated profit after tax of Rs 91.34 crore in the April-June quarter a year ago, according to a regulatory filing from Trident. However, its revenue from operations increased 16.66 per cent to Rs 1,742.71 crore in the June quarter. It was Rs 1,493.71 crore a year ago. The total expenses in the June quarter rose 19.7 per cent to Rs 1,655.59 crore. Its revenue from the Yarn business was Rs 960.70 crore and Rs 615.34 crore from the towel business. Trident's revenue from the Bedsheets segment was Rs 357.84 crore, and Rs 248.38 crore from paper and chemicals. Its total income stood at Rs 1,757.58 crore in the June quarter, up 16.77 per cent. It was Rs 1,505.08 crore a year earlier. Shares of Trident Ltd on Wednesday settled at Rs 37.44 on BSE, up 1.22 per cent.

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

Imports from Bangladesh aggravate jute sector crisis: Stakeholders to govt

A body of jute suppliers have written to Union Minister Giriraj Singh, alleging that raw material imports from Bangladesh, either directly by mills or through third parties, have adversely impacted the industry and farmers. In a letter to the textile minister, the Jute Balers' Association has raised concerns over the "unregulated import of raw jute" from the neighbouring country and "low orders" for mills have led to a severe payment crisis for domestic raw jute suppliers. Indian Jute Mills Association has also raised concerns over the issue and sought intervention from the central and state governments to tide over the crisis. A meeting between the industry stakeholders and the ministry is expected later on Monday, an official said. The balers' association, which has been serving the sector for over 115 years, outlined the critical issues threatening the industry's survival. "Despite a bumper crop year in 2023-24, where domestic supply was sufficient, mills have continued to impo

Battleground 2024: Ludhiana's textile industry wants govt to stitch up FTAs

The past eight years have been a rollercoaster ride for this labour-intensive industry

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

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

CRISIL SME Tracker: Textile revenue to rebound after 2 years of contraction

The cotton prices are likely to remain stable as cotton consumption continues to be lower than production, supporting the cost competitiveness of the cotton textile value chain

Roll-out of PM MITRA to help attract large investments in textiles: Experts

Expeditious implementation of the ambitious scheme to develop seven PM Mega Integrated Textile Regions and Apparel (PM MITRA) parks will help in attracting large investments, including FDI, in the sector besides generating huge employment, said industry experts. After inaugurating 'Bharat Tex 2024', one of the largest-ever global textile events to be organised in the country, Prime Minister Narendra Modi threw light on the government's expansive plans to create seven PM MITRA parks in various states and underlined the emphasis on the creation of opportunities for the entire textile sector. The parks are coming up in Tamil Nadu, Telangana, Gujarat, Karnataka, Madhya Pradesh, Uttar Pradesh and Maharashtra. Nearly Rs 70,000 crore investment and 20 lakh employment generation is envisaged through these parks. The valuation of the Indian textiles market is estimated at Rs 12 lakh crore. The Union Ministry of Textiles is overseeing the execution of these projects. A special purpose vehicl

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.

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

At Bharat Tex, PM Narendra Modi asks textile industry to think globally

PM Modi said that the industry should come up with a report based on the fashion choices in various countries of the world

Bharat Tex 2024 to display India's vibrant textile heritage, innovation: PM

Organized by a consortium of 11 Textile Export Promotion Councils and supported by the Centre, it emphasizes trade, investment, and sustainability

PM Modi to inaugurate global textile event 'Bharat Tex 2024' today

Prime Minister Narendra Modi will inaugurate Bharat Tex - 2024, one of the largest-ever global textile events to be organised in the country, at Delhi's Bharat Mandapam on Monday. Bharat Tex - 2024 is being organised from Monday to Thursday. Drawing inspiration from the 5F Vision of the prime minister, the event has a unified farm to foreign via fibre, fabric and fashion focus, covering the entire textiles value chain, a statement issued by the Prime Minister's Office said on Sunday. Modi will inaugurate the event at 10:30 am on Monday. Bharat Tex will showcase India's prowess in the textiles sector and reaffirm its position as a global textile powerhouse. Organised by a consortium of 11 Textile Export Promotion Councils and supported by the Centre, Bharat Tex - 2024 is built on the twin pillars of trade and investment, with an overarching focus on sustainability, the statement said. The four-day event will feature more than 65 knowledge sessions with over 100 global panelists ..

Grasim Industries Q3 results: Net profit rises 48% to Rs 1,514 crore

On a standalone basis, the net profit for the quarter was Rs 236 crore in the December 2023 quarter as compared to Rs 257 crore reported in December 2022