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Gujarat-Aiming to Transform Textile Industry

14 July  2023, Mumbai

Transformational; Indian Government Approves PM MITRA Textile Park in Gujarat, Aiming to Transform Textile Industry.

The Indian government has given the green light for the establishment of the Prime Minister Mega Integrated Textile Regions and Apparel (PM MITRA) Park in the Vansi-Borsi village of Navsari, Gujarat.

Attract significant investments

This ambitious project, backed by the Gujarat Industrial Development Corporation (GIDC), aims to revolutionize the textile industry in the state. The government will contribute 30% of the required ₹1,500 crore, while the park is expected to attract investments of around ₹10,000 crore.

Create job opportunities

With an area of 462 hectares, the PM MITRA Park will house common facilities and an integrated textile value chain, reducing logistics costs and enhancing productivity. This initiative aligns with Prime Minister Narendra Modi's vision of establishing India as a global textile manufacturing and export hub.

Momentous moments

The signing of the memorandum of understanding (MoU) between the Centre and the state, scheduled for tomorrow, will mark a significant milestone in this endeavor.

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Gujarat-Aiming to Transform Textile Industry

Uttar Pradesh selects location for textile park

12 July 2023, Mumbai

The Uttar Pradesh government has finalized the location for the Mega Textile and Apparel Park, a key initiative under the PM Mitra plan.

Expected to generate employment

The chosen site is the serene Atari village in Malihabad, Lucknow. Upon completion, the park is projected to provide employment opportunities for a staggering one lakh young individuals.

State-of-the-Art Park

To attract investments of Rs 10,000 crore, the Yogi Adityanath-led government plans to engage various investors in this landmark project. The park will boast state-of-the-art facilities, ensuring global competitiveness while prioritizing connectivity benefits.

Social infrastructure

The decision to select Atari was guided by its strategic proximity to Lucknow's major transportation routes, including four-lane highways NH-20 and SH-20, as well as a well-connected outer ring road.

In addition, the park will benefit from excellent rail accessibility, with Lucknow Railway Station and Malihabad Railway Station located within reasonable distances.

Moreover, the park's location near Kanpur Node's dedicated freight route, the inland container depot in Kanpur, and Lucknow International Airport will further facilitate logistical operations.

PPP

The park's development will be executed through a public-private partnership (PPP) approach, with a provision of Rs 300 crore for industrial units and Rs 500 crore allocated for essential infrastructure.

The project will be divided into three sections: general infrastructure, social infrastructure, and premium spaces, ensuring cutting-edge amenities for all stakeholders.

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YogiAdityanath

Seminar: Innovations @ ITMA Milan 2023

26 June 2023, Mumbai

Theme: Innovations @ ITMA Milan 2023

Date: 7th July 2023

Program: Half Day Seminar 

Venue: Krantijyoti Savitribai Phule Sabhagruh, VJTI, Mumbai

Jointly organised by:
The Textile Association (India), MUMBAI UNIT
                             &
Department of Textile Engineering VJTI MUMBAI.

The seminar will cover advances and innovations exhibited in ITMA 2023.

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ITMA

Textile sector set for revival

17 June 2023, Mumbai

After a challenging year of sluggish demand, excessive inventory, limited supplies, and soaring cotton prices, the textile industry is set to bounce back.
Challenging year Spurs resurgence
Experts predict a resurgence in demand, particularly in the third quarter of FY24, as global retailers reduce stockpiles and place orders for the upcoming Summer/Spring 2024 collections.
Demand on the rise  
Favorable market conditions, coupled with geopolitical uncertainties faced by competitor nations, are expected to inject vitality into the sector.
As a result, textile players are anticipated to witness consistent earnings growth and improved cash flows.
Having completed their capital expenditure, companies will now focus on strengthening their balance sheets and enhancing return ratios.
Favorable conditions bring vitality  
Moreover, the decline in cotton and crude prices will bolster profit margins and enhance India's competitiveness in export markets. The industry has already gained market share in crucial export markets for garments and home textiles. Focus on strengthening  
The potential for a UK free trade agreement and the China+1 strategy further augments the sector's prospects for improving earnings and multiples.
Additional opportunities; Sharekhan has upgraded its outlook on the textile sector to 'positive,' recommending Gokaldas Exports, KPR Mill, Himatsingka Seide, and SP Apparels as preferred picks.

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TextileSector

Revolutionary Zero Cotton Denim Collaboration

05 July  2023, Mumbai

Innovating Denim Aesthetics Responsibly; Advance Denim, Officina+39, and TENCELTM have joined forces to create a revolutionary zero-cotton denim collection.

Revolutionizing Denim

By utilizing TENCELTM Lyocell fibers, known for their sustainable qualities, the collaboration aims to showcase authentic denim aesthetics and vintage looks with a minimal environmental footprint. The collection will be presented at Kingpins New York.

Authentic Denim, Minimal Footprint

TENCELTM is dedicated to partnering with like-minded organizations to pioneer denim innovation, expand design possibilities, and reduce the industry's environmental impact. TENCELTM Lyocell fibers in zero cotton denim offer a softer feel, cleaner look, and enhanced moisture management.

Sustainable Denim Redefined

The collaboration between TENCELTM, Advance Denim, and Officina+39 embodies a commitment to sustainable denim innovations, striving for a more eco-friendly industry.

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Tencel

Co-Optex renovated showroom supports weavers

26 June 2023, Mumbai

The Vasantham Co-Optex showroom on Gandhiji Road underwent an impressive ₹60 lakh renovation Inauguration ceremony with government officials

Officially inaugurated on Wednesday in presence of Minister R. Gandhi, accompanied by Principal Secretary Dharmendra Pratab Yadav.

Dignitaries, emphasized Co-Optex's significant role in improving weavers' livelihoods.

Notably, 46 showrooms have been renovated in the past two years, amounting to a total investment of ₹13.35 crore.

Expands to major cities

Excitingly, major renovations costing ₹10 crore are currently underway in Chennai, Salem, Madurai, and Tirunelveli.

Minister Gandhi encouraged customers to take advantage of the opportunity to purchase handloom products at discounted prices of 10% to 20%, available both online and in-store.

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CoOptex

Birla SaFR: Revolutionary Flame-Retardant Fibre

12 June 2023, Mumbai

Birla Cellulose, a unit of Grasim Industries Limited and part of the Aditya Birla Group, proudly unveils its latest innovation, Birla SaFR, at ITMA 2023 in Milan, Italy.

This groundbreaking product signifies a major milestone in Birla Cellulose's strategic vision to provide cutting-edge solutions for the technical textile industry.

What all you need to know

Innovative, Sustainable, and Eco-Friendly

Birla SaFR is a phosphate-based, inherently flame-retardant, sustainable cellulosic fibre that excels in producing flame-retardant fabrics, thanks to its exceptional performance and environmentally friendly characteristics.

On June 10th, Birla SaFR was launched at ITMA Milan by the Honorable Minister of State for Textiles (India), Mrs. Darshana Vikram Jardosh, in the presence of Secretary (Textiles), Mrs. Rachna Shah, H.K Agarwal, Managing Director of Grasim Industries Ltd, and ManMohan Singh, Chief Marketing Officer of Birla Cellulose.

Birla Cellulose Introduces Birla SaFR

This revolutionary breakthrough establishes Birla Cellulose as a leading innovator in sustainable textiles, setting a new standard for flame-retardant fibres.

Crafted with meticulous precision, Birla SaFR is the result of extensive research and development, driven by a deep understanding of industry needs. This remarkable achievement showcases Birla Cellulose's dedication to innovation and its commitment to delivering products that transform the textile industry.

Marks a Significant Advancement in Birla Cellulose's Vision for Technical Textiles

H.K Agarwal, Managing Director of Grasim Industries Ltd and Business Director of Pulp & Fibre Business, expressed his pride in this groundbreaking accomplishment, stating, "Birla SaFR is the first flame-retardant fibre developed in India specifically for the technical textile segment.

We take immense pride in knowing that our product will be used in various categories of protective wear, ultimately safeguarding lives."

Birla SaFR can be blended with other high-performance fibres such as aramid, FR mod acrylic, and FR polyester, to create a diverse range of protective clothing solutions.

This cutting-edge fibre offers enhanced protection against various heat-related hazards while ensuring optimal comfort for the wearer without compromising on the garment's fire protection standard, thus enhancing the user experience.

Birla SaFR will be the ideal choice for industries requiring the highest fire protection standards, including thermal protection, electric arc protection, and molten metal splash protection.

It caters to the unique needs of sectors such as defence, emergency response (ER), oil & gas, electrical utility companies, and various manufacturing industries. Birla SaFR has an Oxygen Limiting Factor (OLF) greater than 28 and sustains its flame retardant efficacy even after multiple washes (over 50 washes) as tested and verified by third-party agencies.

Make in India

Commenting on the launch of Birla SaFR at ITMA 2023, ManMohan Singh, Chief Marketing Officer, expressed, "It is a significant milestone and a proud moment for Birla Cellulose and the Aditya Birla Group, as Birla SaFR fibre is developed indigenously, providing an alternative to imported flame retardant fibre. It aligns with the 'Made in India' initiative and is poised to make a lasting impact on the global textile industry."

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BirlaCellulose

Fashion fund boosts sustainable denim

04 July  2023, Mumbai

Join forces; The Good Fashion Fund, an initiative by Laudes Foundation and Fashion for Good, has invested in Sri Kannapiran Mills Limited, a leading Indian producer of eco-friendly cotton yarn and denim fabrics.

The $2.5 million USD loan will facilitate the replacement and expansion of sustainable equipment in two spinning factories (KG Naidu Mill, Balaji Mill), and a Denim fabric weaving & processing factory (KG Fabriks).

Strong commitment to sustainable practices

Sri Kannapiran Mills Limited, founded in 1946, demonstrates its commitment to sustainability through various initiatives, including its CII GreenCo Gold-rated denim facility, innovative Zero Indigo Discharge technology, and participation in Ellen MacArthur Foundation's Jeans Redesign program.

Recognized as a top workplace, SKML supplies denim fabrics to renowned brands while contributing to sustainable fashion practices.

To enhance sustainability and competitiveness

The investment aims to boost the company's ability to meet manufacturing demands, scale its holistic sustainability approach, and enhance competitiveness in the global supply chain as brands adapt to stricter sustainability standards.

Srihari Balakrishnan, Managing Director of Sri Kannapiran Mills Limited, expressed excitement about the collaboration, stating that the investment would strengthen their commitment to sustainability and position them as a frontrunner in sustainable fashion.

Anticipated positive impact

Anticipated significant savings in energy consumption and material waste reduction are expected to generate positive economic benefits throughout the partnership with the Good Fashion Fund.

Bob Assenberg, Fund Director of Good Fashion Fund, praised SKML for its thoughtful integration of sustainability and continuous improvement, expressing eagerness to commence the partnership.

Anita Chester, Managing Director of Laudes India, emphasized the urgency of addressing sustainability challenges in the fashion industry and the role of such investments in driving progress.

To address key sustainability challenges

The Good Fashion Fund, in collaboration with Laudes Foundation, The Mills Fabrica, and FOUNT, offers long-term USD loans and expertise to manufacturers in Asia, focusing on India and Bangladesh.

Managed by FOUNT, a leading Dutch impact investment firm, the Fund aims to support sustainable practices and economic growth in the industry.

 

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KGFabriks

Welspun India Dominates ESG Rankings

24 June 2023, Mumbai

Welspun India Limited (WIL), a leading textile company, continues to excel in Environmental, Social, and Governance (ESG) performance, evident in this year's Sustainalytics' ESG risk ratings. Demonstrates commitment to ESG

With a notable score of 11.3, WIL has significantly improved from its previous year's score of 14.4, underscoring its commitment to integrating ESG into its business strategy. Sustainalytics, a prominent independent ESG and corporate governance research firm, evaluated WIL's performance in the Textile & Apparel category.

Milestone

Welspun India now ranks 9th out of 202 global participants, categorized as "Low risk." It stands as the top-ranked Indian company among its industry peers, reflecting its dedication to ESG initiatives such as decarbonization, water conservation, sustainable raw materials, and supply chain sustainability.

These efforts showcase WIL's determination to be a global leader in ESG practices. The assessment recognizes Welspun India's "Strong" ESG management, signifying the company's strategic integration of environmental, social, and governance factors in its operations and decision-making.

Building Responsible Ecosystem

These achievements further will motivate management to go the extra mile and think innovatively to preserve the environment while giving back to society.

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Welspun

Indian Delegation to Drive Textile Exports in US

03 July  2023, Mumbai

In a bid to bolster the export of manmade fibre textiles and technical textiles, the Synthetic & Rayon Textiles Export Promotion Council (SRTEPC) announced an upcoming industry delegation's visit to the United States.

Aims for ‘US Export Boost’

The chairman of SRTEPC, Bhadresh Dodhia, stated that the delegation would engage with prominent American companies to strengthen the export of these textile categories.

With India's manmade yarns and fabric exports declining by 10% to $788 million in FY23, compared to $878.34 million in FY22, the delegation aims to revitalize the market.

Drive exports to the next level

Dodhia emphasized that the US serves as a significant market for Indian manufacturers of technical textiles, as it offers high-quality raw materials like specialty yarns, aramid yarns, and filter fabrics.

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ApparelFactory

The Yarn Bazaar raises funds

20 June 2023, Mumbai

The Yarn Bazaar, a B2B managed marketplace founded in 2019, has successfully raised INR 15 crore in a pre-Series A funding round.

Funding Round with Prominent Investors

The funding was led by the Rajiv Dadlani Group and Equanimity Ventures, with participation from notable investors including Arihant Patni, Ekta Kapoor of Balaji Films, Ritesh Malik of Innov8, Aakrit Vaish of Haptik, Sumeet Srivastava of Spocto, and Miten Sampat from Cred.

Textile industry experts such as Anil Mansingka, Dr. Amit Lath, Sharda Group of Companies, Nikunj Bagdia of Ken Enterprises, and Vineet Garg of Shri Ram Sarup Garg Cotton Mills also joined the round.

The Yarn Bazaar intends to utilize the funding to strengthen its senior leadership team, expand operations, and capitalize on its strong inbound pipeline.

B2B Managed MarketplaceB2B Managed Marketplace

The platform, which enables users to access real-time yarn prices, market trends, and valuable information, empowers yarn sellers to widen their market reach, enhance sales, and achieve better profit margins. Likewise, buyers can effectively reduce procurement costs and raw material expenses.

With a transaction value of over INR 370 crore and an average order value of INR 19 lakhs, The Yarn Bazaar aims to further enhance its online presence and improve the user experience.

 

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Yarn

Archroma & COLOURizd™ Partner to Revolutionize Sustainable Textile Production

08 June  2023, Mumbai

Archroma and COLOURizd™ have joined forces to revolutionize sustainable textile production.

New standards for eco-friendly textile manufacturing

By combining Archroma's pigment coloration solutions with COLOURizd™ QuantumCOLOUR™ yarn-coloring technology, they aim to create high-quality, high-performance textiles that appeal to consumers while minimizing environmental impact.

Joaquin Femat, Director of the Printing Market Segment at Archroma's Textile Effects Division, highlights their commitment to safe, efficient, and enhanced sustainable solutions. Jennifer Thompson, CEO of COLOURizd™, shares the vision of a future where fashion is accessible, affordable, and sustainable.

An Eye on Sustainability

The innovative QuantumCOLOUR™ process transforms yarn coloration, using only 0.95 liters of water per kilogram of colored yarn. This represents a remarkable 98% reduction in water consumption and zero wastewater discharge. Furthermore, it decreases the carbon footprint by 73% and reduces energy use by 50%.

Archroma offers tailored system solutions, such as JUST COLOR, to enhance the QuantumCOLOUR™ process.

USP

JUST COLOR is a formaldehyde-free pigment coloration system that delivers soft fabrics with durability while enabling energy and chemical savings and increasing productivity. Together, Archroma and COLOURizd™ are reshaping the landscape of sustainable textile manufacturing.

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