Page 2 - Textiles

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

Textile exporters bat for fine tuning of RoSCTL scheme to retain edge

The discount on tradeable scrips has gone up from 3% to about 20%, benefitting importers who are taking undue advantage at the cost of exporters, says industry

Shanghai setback leaves Ludhiana's apparel industry staring at losses

Repeated supply shocks have brought the Rs 20,000-cr textile hub to its knees

Textile in trouble

Govt must revisit the GM policy

Surat's looming crisis: Workers, industries pay the price of power cuts

The second part of a series on power crisis takes you to Surat, a commercial textiles hub. This ground report looks at the impact on weaves and knit

We should take textiles exports to $100 billion by 2030: Goyal

The textiles minister also said the exports would get a boost as the sector would get zero duty access in the UAE and Australia.

We should cross $40 billion export-mark this year: Textiles Secretary

India's textiles exports are expected to cross $40 billion during the current fiscal, Textiles Secretary UB Singh said on Wednesday.