02 June  2023, Mumbai

Maharashtra, a key cotton-producing state in India, is taking significant steps to enhance its textile value chain by focusing on cotton processing. The policy aims to generate huge job opportunities.

With the implementation of a new state textile policy, Maharashtra aims to attract an investment of ₹25,000 crore and generate 500,000 jobs by 2028. The policy includes the establishment of the Maharashtra State Textile Parks will drive industry development.

Textile Development Corporation (MSTDC) and the creation of six textile parks. It also emphasizes the preservation of indigenous textiles like Paithani, Himru, Karvat Kathi, Khana, and Ghongadi.

Financial assistance

Financial assistance will be provided to traditional artisans, with female weavers receiving ₹15,000 and male weavers ₹10,000 annually.

Additionally, the government plans to distribute a free saree each year to families below the poverty line (BPL) in the state. Maharashtra's ambition is to transform the cotton value chain from farm to fibre to factory to fashion to foreign markets, elevating the state's position as a textile hub.

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 17 May 2023, Mumbai

The Odisha government will be hosting a roadshow in Bengaluru on May 17 and 18 to attract investment in the Textiles & Apparel sector.

The roadshow will be held at Taj West End, Bengaluru under the chairmanship of Chief Secretary Pradeep Jena. The two-day event will provide an opportunity to investors and business leaders to explore the offerings of the Odisha government in the Textile and Apparel Sector.

The state government has been making concerted efforts to attract investment in the sector and the roadshow is part of these efforts.

Odisha has a strong textile and apparel manufacturing base. The state is home to a number of textile mills and garment factories. The state government has also been promoting handloom and handicrafts. The roadshow is expected to attract a large number of investors and business leaders from Bengaluru and other parts of the country.

The state government has also been promoting handloom and handicrafts. The Textile and Apparel sector in Odisha has a lot of potential for growth. The state has a skilled workforce and a conducive environment for investment. The state government is also providing a number of incentives to attract investment in the sector.

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02 June  2023, Mumbai 

Dollar Industries Ltd, a prominent player in the innerwear and athleisure segment, experienced a significant setback in net profit for the fourth quarter that ended March 2023.

Amidst Volatile Raw Material Prices

With a staggering 90 percent decline to Rs 4 crore compared to Rs 37 crore in the same quarter last year, the company faced challenges due to volatile raw material prices and a cyclical slowdown, resulting in reduced margins.

Outlook bullish

Despite the setback, Dollar Industries remains optimistic about the future, highlighting the potential for increased demand and controlled raw material prices in the upcoming fiscal year, which is expected to support margin maintenance. The company's strategic focus on expanding its distribution network, strengthening its product portfolio, and maintaining a robust supply chain will contribute to its recovery.

In the last fiscal year, Dollar Industries successfully opened 14 exclusive brand outlets across the country, catering to consumer demand and driving sales.

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23 May 2023, Mumbai   

Donear Industries Limited has released its standalone financial results for the period ending March 31, 2023.

The company witnessed a slight quarter-to-quarter increase in total income to Rs. 215.6440 crores, while the net profit declined to Rs. 8.5283 crores.

Total Income Shows Slight Increase

In a year-on-year comparison, Donear Industries showed significant growth in total income for the fourth quarter, reaching Rs. 215.6440 crores. However, the net profit declined to Rs. 8.5283 crores.

For the full financial year, the company reported a substantial rise in total income to Rs. 835.8223 crores and a net profit of Rs. 36.24 crores.

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 16 May 2023, Mumbai 

Arvind, the textile company, has opened 'The Arvind Store' in Bengaluru. The opening of this store marks the expansion of Arvind's presence in Karnataka, bringing the total number of Arvind stores in the state to 15.

What all you need to know

The sprawling 4410 sq. ft. store showcases a diverse range of top fashion brands, offering customers a comprehensive shopping experience.

The highlight of 'The Arvind Store' is its exclusive Ready-To-Wear collection, featuring a curated selection of versatile and stylish products. This collection caters not only to everyday work and leisure wear but also includes an exquisite range of ceremonial attire.

In addition to Arvind's own fabric offerings, the store also houses renowned retail brands such as the US POLO Association, Primante, Tresca, and Fabric of Arvind. Customers visiting the store can also take advantage of custom tailoring services, according to their sizeBrand, fit, and preferences for buttons, rivets, labels, thread colors, and even their own initials.

'The Arvind Store' strives to redefine the shopping experience by seamlessly integrating fabric and ready-made garments for its customers.

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01 June  2023, Mumbai

Donear Group, India's leading textile manufacturer, showcased its internationally-acclaimed product range at the prestigious Fashion Connoisseur's Conclave 2023 in the National Capital Region (NCR).

The event marked a significant milestone in the men's fashion industry, as Donear Group aimed to take the fashion experience to new heights.

The exclusive showcase featured the group's iconic brands, captivating the audience of fashion enthusiasts and connoisseurs from the textiles and fashion industry. Among the standout brands were Ferrara, known for Italian luxury and premium suiting fabrics, and Moda Biella, which blended traditional craftsmanship with contemporary designs.

Lanificio Corleone mesmerized the audience with its masterfully crafted woolen fabrics, while OCM celebrated versatility and style with a remarkable collection. Ferrino Mizzoni reflected sophistication and impeccable tailoring, and Eurico exuded refinement and exclusivity with its 100% Giza-cotton suiting.

Rajendra Agarwal, Managing Director of Donear Industries Limited, emphasized the group's commitment to excellence and innovation, showcasing a diverse range of fabrics catering to the discerning tastes of fashion connoisseurs. The event demonstrated the Donear Group's impact on the fashion landscape of India and the world.

The group also showcased its technological advancements, including a revolutionary mobile application developed in collaboration with Whizleague. This app equips front-end salespeople with in-depth learning experiences, unlocking their potential and enhancing the retail customer's purchase journey.

With its vertical integration in various sectors, including garment manufacturing, yarn spinning, and fabric processing, the Donear Group maintains control over the production process, ensuring consistent quality across its product range.

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18 May 2023, Mumbai  

Siyaram Silk Mills Ltd, a leading player in the menswear fabrics and garments market, achieved remarkable financial results for the fiscal year 2022-2023. The company reported a total income of Rs 2,273 crore, with a net profit of Rs 251 crore.

During the fourth quarter ending on March 31, Siyaram Silk Mills witnessed a notable growth in net profit, which reached Rs 88 crore, marking a 7 percent increase compared to the same period last year when it stood at Rs 82 crore. Moreover, the company's total income for the quarter experienced a growth of 10 percent, reaching Rs 706 crore, up from Rs 640 crore in the previous fiscal year.

The success of Siyaram Silk Mills can be attributed to its strong foothold in the suiting and shirting segment of the menswear market.

Not only does the company offer popular brands like Mistair, Royale Linen, Moretti, Miniature, Unicode, J Hampstead, and Oxemberg, but it also holds the exclusive rights for the prestigious Italian fashion brand, Cadini, in the Indian market.

The consistent growth and profitability of Siyaram Silk Mills reflect its ability to meet the changing preferences of Indian consumers in the menswear segment.

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 04 May 2023, Mumbai 

The Indian government is gearing up to map out key areas across the country using the Gati Shakti-National Master Plan. These areas include startup incubators, beneficiaries of production-linked incentive schemes, mega integrated textile regions and apparel parks, and fair price shops. This mapping exercise is expected to aid data consistency, better planning, and prevent time and cost overruns for infrastructure projects.

The mapping of startup incubators is particularly noteworthy as India has the world's third-largest startup ecosystem, boasting over 50,000 startups in the country as of 2020. Meanwhile, the production-linked incentive (PLI) scheme is poised to enhance the growth of various industries in India, including textiles, by providing incentives to companies for incremental sales.

The Gati Shakti-National Master Plan represents a crucial step towards developing integrated infrastructure in India, which is crucial for the country's economic growth. According to a report by the Confederation of Indian Industry, India's logistics costs currently account for around 13-14% of the country's GDP, while the global average is around 8-10%. Through the mapping of key areas and the development of integrated infrastructure, the government hopes to reduce logistics costs and improve the overall competitiveness of Indian industries.

The mapping exercise has integrated approximately 20 ministries and 36 states and union territories, and has already mapped out 200 projects at the state level.

This initiative is expected to play a vital role in driving India's infrastructure development and positioning the country as a global leader in various industries.

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