Page 2 - Textile

Raymond Lifestyle expands board size to 10 members ahead of listing

RLL, a branded textile and apparel company, is expected to list in early September. The company was hived off from Raymond last month

Govt may overhaul PLI schemes: Quarterly incentive payments on the table

In a bid to cut the delay in processing incentive claims, the government is looking at switching to a quarterly disbursement of incentives

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

Textile unit invests Rs 120 crore in Kathua, to employ 650 youths

Bloomtex Industries is one of the industrial units that has set up their unit in SIDCO, the new industrial estate at Kathua's Bhagthali

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.

Patnaik lays foundation stone for Rs 3,000 cr textile facility in Cuttack

Odisha Chief Minister Naveen Patnaik on Saturday laid the foundation stone for the Rs 3,000-crore Welspun Group's Integrated Textiles Manufacturing Facility and Warehousing Complex at Choudwar in Cuttack district. The proposed complex is expected to create employment for over 10,000 people in and around Choudwar region. Speaking on the occasion, Patnaik said once the complex comes up, Choudwar will get back its glory of being the textile hub of Odisha. "Choudwar was developed as an industrial hub by former chief minister Biju Patnaik in the 1950s. Today, once again, a new history has been created in Choudwar," Patnaik said. The CM also informed that cotton farmers in the districts of Kalahandi, Bolangir, Rayagada and Gajapati will benefit from the complex, which will also provide employment opportunities for women. "Women will be provided skill training," he said. The state industrial department and Industrial Promotion and Investment Corporation of Odisha (IPICOL) had given a ...

PLI scheme's progress slows in key sectors, affecting manufacturing goals

Even as the investment exceeded the government's estimate in the previous financial year, progress was not uniform across all schemes

'Textiles, pharma powered industrial revolution in Gujarat in past 20 yrs'

A land of vibrant cultural heritage and traditions, Gujarat has undergone industrial evolution in the last two decades riding on the success of key sectors like textile, pharmaceuticals, diamond and fisheries, officials have said. Gujarat has become a global powerhouse in the textile, apparel and garment sectors by contributing over 60 per cent of India's denim fabric, spurred by the state's textile policy launched in 2012. Since then, the size of its textile exports has grown 2.3 times, they said. The growth in textile manufacturing has positioned Gujarat as a driving force in the country's economic growth, officials said ahead of the state's big-ticket Gujarat Vibrant Global Summit, which will be held next week. To take advantage of our future, we will have to invest in the local supply chain. This is the way to build a developed India, and this is the way to fulfil the dream of a developed India to fulfil the dream of a $5 trillion economy, Prime Minister Narendra Modi had said

Bombay Dyeing Q2 result: Loss after taxes reduced to Rs 51.99 crore

Bombay Dyeing & Manufacturing Co Ltd on Thursday reported a narrowing down of its consolidated loss after tax of Rs 51.99 crore for the second quarter ended September 30, 2023. The company had posted a net loss of Rs 93.02 crore in the July-September period a year ago, according to a regulatory filing from Bombay Dyeing & Manufacturing. Its revenue from operations fell 40.87 per cent to Rs 440.60 crore during the quarter under review as against Rs 745.22 crore in the year-ago period. Total expenses for the September quarter were at Rs 581.11 crore, down 33.48 per cent. Bombay Dyeing & Manufacturing's total income in the September quarter was Rs 457.12 crore. Its income from the Real Estate segment declined to Rs 80.60 crore in the September quarter FY24 in comparison to Rs 280.48 crore. Similarly, revenue from the Polyester segment stood at Rs 344.19 crore as against Rs 449.24 crore in the corresponding quarter. However, revenue from Retail/ Textile grew Rs 15.81 crore ...

Zydex eyes 15-20% revenue growth to Rs 375 cr across all verticals in FY24

Specialty chemicals company Zydex Group is eyeing 15-20 per cent growth in revenues to Rs 375 crore from all its verticals including road, textile, agro, water proofing and paints in 2023-24 compared to previous fiscal year. Talking to PTI, Chairman and Managing Director Zydex Group Ajay Ranka said,"We are expecting 15 to 20 per cent revenue growth in all business verticals during 2023-24 compared to 2022-23." He said the company gets 35 per cent revenue from road vertical, 35 per cent from textiles, 10-12 per cent agro, 14-15 per cent from waterproofing and 3-4 cent from paints business. About the staggering impact of the pandemic (which hit in March 2020) on the businesses, Ranka said though market sentiments have improved, the textile sector is doing poor since October 2022. Rest of the sectors are however growing post pandemic. "Organic growth of the company is expected in the next two years beyond which inorganic growth will be looked into, once business verticals stabilize an

Punjab govt to constitute industrial advisory commissions for 26 sectors

The Punjab government has recently issued a notification for constituting industrial advisory commissions for 26 sectors aimed at promoting holistic business development in the state. According to the notification, each advisory commission will be headed by a renowned person from the relevant industrial sector who will hold a rank equivalent to that of a cabinet minister. The commission will have industry representatives who will be nominated by the government, it said. The advisory commission is meant for several sectors, including textile, machine tools, sports goods, agri and food processing, rice milling and processing, bicycle and bicycle components, agriculture machinery and equipment, pharmaceuticals, alloys and steel, auto and auto components, and electronics. Information technology, paper and paper-based packaging units, plywood and wood products, hotels and hospitality, plastics and chemical products, logistics, construction materials, retail and service industries, ...

Grasim Industries to raise Rs 4,000 crore through rights issue of shares

The fund raise comes a month after of the textile-to-chemicals maker announced plans to enter the paint business under the brand name 'Birla Opus' in the fourth-quarter of fiscal 2024

Govt may soon tweak PLI schemes for pharma, textiles to boost investment

The government may soon tweak the production-linked incentive scheme for pharmaceuticals, drones and textiles sectors to encourage investment and boost manufacturing, an official said. These sectors have been identified after inter-ministerial consultations on the performance of the scheme for various products. The official also said that disbursement of production-linked incentives (PLI) for white goods (AC and LED lights) would start this month and that would push the amount of disbursement, which was only Rs 2,900 crore till March 2023. The scheme was announced in 2021 for 14 sectors such as telecommunications, 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. "We have identified the sectors. We are going to send the combined note to seek approval of the Union Cabinet. The changes include extending some ti

Prismx Global Ventures Limited Secures Lucrative Textile Order from France, Propelling Stock into Spotlight

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Centre announces up to Rs 50 lakh grant for technical textiles startups

The government on Tuesday said it will provide a grant-in-aid of up to Rs 50 lakh for startups and individuals to promote innovation in the niche technical textiles segment. The Startup Guidelines for Technical Textiles - Grant for Research and Entrepreneurship across Aspiring Innovators in Technical Textiles (GREAT) providing grant-in-aid of up to Rs 50 lakh for up to a period of 18 months has been approved, Rajeev Saxena, Joint Secretary, Ministry of Textiles, said. With a strong emphasis on developing the Startup Ecosystem in Technical Textiles, the guidelines focus on supporting individuals and companies to translate prototypes to technologies & products, including commercialisation, he told reporters here on the important developments in the National Technical Textiles Mission (NTTM). "We are going to support up to Rs 50 lakh in the form of grant-in-aid without any royalties or equity. Only a minimum of 10 per cent contribution has to be made by the incubatee. All of this is .

India likely to present incentives for ailing textile by Dec: Trade body

Earlier this month, govt officials reviewed the PLI scheme, launched in 2020, under which govt proposed to offer around Rs 2,400 crore in cash incentives to 14 sectors

Indians may soon be able to shop for 'INDIAsize' garments: Textile Ministry

The Textiles Ministry will soon rollout 'INDIAsize' -- measurements and standards designed to better suit the Indian body types, Textiles Secretary Rachna Shah said on Tuesday. Once the initiative is launched, Indians will soon be able to shop for clothes that would fit them better. Presently, international and domestic brands available in India use measurements from the US or the UK for garments, having 'small', 'medium' and 'large' sizes. However, Western body types differ from Indians in terms of height, weight or specific measurements of body parts, which sometimes causes fitting issues. "We are hoping... that will happen very soon," Shah told PTI when asked about the rollout of the INDIAsize initiative. The Textiles Secretary said the government's goal is to take the domestic technical textiles segment to USD 40-50 billion in the next five years or so, from USD 22 billion at present. "Our exports of technical textiles is presently at USD 2.5 billion, our objective is to enhan

India actively considering CEPAs, FTAs to boost textile exports: Goyal

Union Minister Piyush Goyal on Monday said India is actively considering entering into free trade pacts and comprehensive economic partnership agreements to tap new markets, increase exports and create opportunities for the domestic textile industry. The Minister of Textiles highlighted that the Pradhan Mantri Mega Integrated Textile Region and Apparel (PM MITRA) Park is being established across 7 states to promote India's textile sector in a significant manner. Goyal said PM MITRA Parks will lead to a reduction of logistic costs due to a cluster-based approach to manufacturing and production of quality products with appropriate testing facilities. The minister emphasised that countrymen deserve the best quality of garments and this should be ensured by all the stakeholders. He encouraged the industry to focus on quality and test their products to comply with quality standards. Goyal said India is pioneering sustainable textiles, contributing to a lesser carbon footprint and promo

Spinning mills fret over clamp on CU India from certifying organic textiles

Industry bodies move global accreditation body IOAS, seeking a relief; organic cotton contributes to 10% of the total cotton produced in the country