Textiles

US adds textile cos to Uyghur Forced Labor Prevention Act Entity List

These goods are not allowed to enter the US as the forced labour used behind these goods is against the human rights of Uyghurs

Jute sector highlights key issues at standing advisory committee meeting

The Indian Jute Mills Association highlighted several pressing issues at the 32nd Standing Advisory Committee (SAC) meeting in New Delhi, including the challenges faced by the sector due to declining demand for jute bags, officials said. Key stakeholders such as representatives from the sugar and plastic industry bodies participated in the meeting on Tuesday. The SAC makes recommendations to the Union government on the mandatory use of jute packaging materials, and packaging norms for essential commodities such as foodgrains and sugar. The Jute Commissioner's Office (JCO) stressed upon the need for supporting the sector, the IJMA officials said. An estimated 40 million farmers and 3.5 lakh jute mill workers are dependent on the industry. The representatives of sugar industry bodies raised concerns about the pricing and quality of jute bags, urging the government to fix rates for sugar jute bags. "They also noted the reluctance by major buyers like some beverage giants to use jute

'EU laws on sustainable products to hurt exports from developing nations'

Since most products covered are consumer products, the price rise may lead to inflation in the EU, the report said

Gems, jewellery and textiles sectors seek sops from Rajasthan govt

According to the trade body, in April 2024, exports saw a decline of over 5.3 per cent to around Rs 18,832 crore, while in April last year, exports were more than Rs 19,892 crore

Welspun Living Q4 results: Net Profit increases 16% to Rs 146 crore

Analysts expect a further increase in demand and easing prices of key raw materials, such as cotton, to boost textile firms' bottomline in the next few quarters as well

Swan Energy raises Rs 3,000 cr via QIP of shares priced at Rs 670 apiece

Swan Energy on Thursday said it has raised Rs 3,000 crore from qualified institutional placement of shares which were priced at Rs 670 apiece. The issue got interest from qualified institutional investors including Quant Mutual Fund, SBI Life, LIC, LIC Mutual Fund, Tata Mutual Fund, Infini Mutual Funds, SBI General Insurance, BNP Paribas Mutual Fund, Nomura, Goldman Sachs, Future Generali, Anand Rathi, and other domestic and foreign institutions and family offices, the company said. The fund will be deployed to modernise the recently acquired Reliance Naval and Engineering's shipyard at Pipavav. Additionally, a portion of the fund will be allocated for project expansion and debt reduction. Paresh Merchant, an executive director of Swan said taking management control of Reliance Naval -- the largest defence shipyard in the country -- aligns with their vision to emerge as a leading private player in the manufacture of defence, commercial, and oil and gas vessels. The company aims to

Raymond Q3 results: PAT jumps to Rs 185 cr on branded apparel, realty boost

It had logged a net profit of Rs 96.60 crore in October-December FY23, according to a regulatory filing by the company

Non-tariff barriers emerging as tool to disrupt textiles trade: AEPC

Non-tariff barriers (NTBs) are gradually emerging as a potent tool to damage and even disrupt legitimate textiles trade, apparel export promotion council (AEPC) said on Thursday. As many as 131 NTB notifications are issued related to the textile sector since 2019 with Uganda at the top position with 71 notifications, it said. It was followed by Ecuador (10), China (8), Taiwan (7), Israel (5), USA (4), and Peru (3). These barriers include certifications, inspections, regulations, standards, SPS (sanitary and phyto-sanitary - related with plants and animals) measures, and technical barriers to trade (TBT). These measures are by and large in conformity with the rules of the World Trade Organisation (WTO). But when these measures are used unfairly, in violation of WTO agreements to discriminate against imports and restrict market access, then they become non-tariff barriers hampering legitimate trade. The council has organized a webinar on emerging non-tariff barriers in the apparel

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

Century Textiles June quarter net profit declines by 62% at Rs 24 crore

The company has acquired significant projects in Pune, Mumbai, and Bengaluru; all ongoing real estate projects are progressing well

India is pioneering sustainable textiles, says Union Minister Piyush Goyal

The Minister said that the Indian textile industry has made a mark in the world with its innovative and attractive products

India aspires to take technical textiles market to $40 bn in 4-5 yrs: Goyal

Union Minister Piyush Goyal on Friday said India aspires to take its technical textiles market to USD 40 billion in the next 4-5 years from USD 22 billion at present. In a virtual address at a conference on geo textiles, the Textiles Minister also expressed hope to build a domestic technical textiles market of up to USD 300 billion by 2047. Currently, India is the fifth largest producer of technical textiles in the world with a market size of nearly USD 22 billion. To achieve these objectives, Goyal underlined the need to focus on improving productivity at manufacturing and supply-chain levels. Technical textiles are functional fabrics that have applications across various industries including automobiles, civil engineering and construction, agriculture, healthcare, industrial safety, personal protection etc. "We will have to introduce economies of scale and also have to work on research and development to innovate and come up with attractive products which are in the future going

Govt to release norms to support startups' innovation in technical textiles

The government will soon release guidelines to support startups interested in undertaking research and innovation in the technical textiles segment and is contemplating a grant of up to Rs 50 lakh for approved proposals, a top official said on Thursday. Responding to a query by PTI, Secretary in the Textiles Ministry Rachna Shah said that she is hopeful that the norms will be unveiled in a month's time. "We would have an evaluation committee which would decide on approving grant for that, so the grant would be up to Rs 50 lakh, that is what we are looking at," Shah said. Hopefully within a month or so, we will be able to have the guidelines, she added. Addressing a press briefing, the secretary informed that the government is looking at measures to cut India's heavy import dependence on machinery and specialty fibre for the technical textiles sector.

Quality control order to control inferior silk import on the cards

The minister's comments were in response to a question of poor quality silk coming into the country from China

India will aim to achieve $100 bn export target for textiles by 2030: Goyal

Citing the case of the FTA negotiations with the United Kingdom, Goyal said the country had a 9 per cent duty on different items and if that goes away, it will benefit the sector, he said

Listed firms managing liquidity challenges well, says India Ratings

Given the tightening liquidity conditions and higher cost of borrowings, corporates with a weak credit profile are likely to tap a loan against shares facility to meet their funding requirements

At Rs 3,513 crore, Madhya Pradesh bags most textile PLI investments

Gujarat corners 13 projects, the highest

Here's why factories making towels and bedsheets are shutting in Pakistan

As many as 100 smaller mills have suspended operations due to a shortage of good quality cotton, high fuel costs, and poor recovery of payments from buyers in flood-hit areas

Govt working on PLI schemes for more products to boost manufacturing: Goyal

The government had rolled out PLI schemes for 15 key sectors, including technology, textile, automobile, pharmaceutical drugs, speciality steel, electronics, among others

Uttar Pradesh govt seeks to take embassies' help to boost exports

Among the top-selling UP products are leather goods, carpets, hand woven textiles, brassware, glassware, sports goods, etc