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BSL Ltd opens ₹150 crore spinning unit in Bhilwara

24 April 2023, Mumbai 

BSL Limited, a leading textile, and suiting brand have launched its first Cotton Spinning Unit in Bhilwara, Rajasthan. The new unit, with a capacity of 30,000 spindles, is expected to generate INR250 crores in revenue for the company in the upcoming fiscal year.

BSL Ltd. will produce 100% cotton yarns, offering a range of counts and types for both domestic and export markets. The smart manufacturing facility will create job opportunities for 200 additional employees.

BSL Ltd. has a diverse product portfolio, catering to mass and premium markets, and has recently expanded its offerings in pure wool, poly wool fabrics, and ethnic wear.

The company has also launched a new luxury brand, GH-Insignia. Managing Director, Nivedan Churiwal, expressed confidence in achieving their goals through the new cotton spinning facility and other expansion plans.

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Cotton Standards Get Upgraded

21 April 2023, Mumbai 

Better Cotton, the largest cotton sustainability initiative in the world, has updated its Principles & Criteria (P&C) to ensure continuous improvement and sustainability impact at the field-level.

What all you need to know

The P&C establishes the requirements farmers must comply with to obtain a license and sell their cotton as “Better Cotton.” More than two million farmers worldwide hold a license under this initiative.

The revised P&C covers management, natural resources, crop protection, fiber quality, decent work, smallholder livelihoods, gender equality, and climate change. The new revision will become effective for licensing beginning in the 2024/25 season.

The revised P&C embraces a farmer-centric approach and serves as a locally relevant standard that addresses environmental, social, and economic issues. The new principles will ensure the responsible use, conservation, and enhancement of natural resources and place a stronger emphasis on promoting well-being in farming communities.

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Piyush Goyal Drives India-France Business Summit with CEO Engagement

13 April 2023, Mumbai 

During his address at the India-France Business Summit and CEOs Roundtable in Paris, Union Minister Piyush Goyal highlighted the vast opportunities in India, emphasizing its potential as a major consumer and exporter of goods and services.

He expressed the goal to triple India's exports from $765 billion to $2 trillion by 2030.

Minister Olivier Becht from the French Government acknowledged the untapped potential for collaboration between India and France, with many French companies already engaged in India.

The presence of a large delegation from the Confederation of Indian Industry (CII) in France underscored the importance of the India-France relationship, according to Sanjiv Puri, Vice-President of CII.

The discussions focused on various topics, including green initiatives, emerging technologies, defense cooperation, and global engagement in Africa, reflecting the commitment to collaborative engagement between India and France.


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SIMA urges FM cotton import duty exemption

19 April 2023, Mumbai 

The Indian textile industry, which heavily relies on cotton, is facing a crisis due to sluggish demand and high volatility in cotton prices.

The 11% import duty on cotton imposed during the Union Budget 2021-22 has increased domestic cotton prices and eroded the industry's competitiveness. To bridge the supply-demand mismatch, spinning mills opt for imports during the off-season, but this has become unviable due to the import duty.

The Government had given an exemption to cotton from an 11% import duty from April 2022 to October 2022, which greatly benefited the industry.

However, the industry is now facing a shortage of cotton, and SIMA is appealing to the Finance Minister to exempt cotton from 11% import duty during the off-season to ensure raw material security, avoid mass production stoppage, and revive the export performance of the industry.

The Chairman of SIMA has also requested an exemption for ELS cotton from import duty on a long-term basis.

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06 April 2023, Mumbai 

ColorJet Group, a leading manufacturer of digital textile printers, was honored with the prestigious State Export Award for its outstanding performance in international trade.

The award was presented at a ceremony held at Lok Bhawan in Lucknow, organized by the Export Promotion Bureau of Uttar Pradesh. The Chief Minister of Uttar Pradesh, Yogi Adityanath, handed over the award to M.S Dadu, Chairman of ColorJet Group, in the presence of Shri. Nand Gopal Gupta, Cabinet Minister of Industry Development, and other dignitaries from the UP Government.

The Export Award is the highest recognition granted by the state government to a company that has demonstrated exceptional performance in international trade. It is presented to companies that have successfully expanded their business overseas and have significantly contributed to the country's export earnings.

ColorJet has been recognized for its outstanding performance in expanding its operations globally, thereby contributing to the growth of the country's economy.

ColorJet Group has consistently demonstrated a commitment to quality and innovation in its products and services, which has helped the company establish a strong reputation in the international market.

In his address at the award ceremony, the Chief Minister stated that Uttar Pradesh will emerge as the torchbearer of the fourth industrial revolution (industrial revolution 4.0), as evident from the investment proposals worth ₹35 lakh crores received at the Global Investors Summit held in Lucknow in February.

He further emphasized that Micro, Small, and Medium Enterprises (MSMEs) will become the foundation of industrial development in Uttar Pradesh, leading the fourth industrial revolution.

Upon receiving the award, M.S Dadu, Chairman of ColorJet Group, said, "The award is a testament to the hard work and dedication of the entire team at ColorJet.

The company has invested heavily in developing indigenous technology for the world market to ensure that it meets international standards and regulations, which has enabled us to expand our business in over 30+ countries now."

He further highlighted that all ColorJet printers are designed and built robustly, incorporating ergonomics and 3D simulation processes at ColorJet's Innovation Laboratories, to deliver excellent results and enduring value to their customers.

ColorJet's Group Innovation Laboratories have been recognized by the Ministry of Science & Technology, Government of India, for their R&D facility that innovates and integrates digital print technology for global markets.

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Fabric & Accessories Trade Show 2023

30 March 2023, Mumbai 

The 27th edition of the Fabrics & Accessories Trade Show and the 2nd edition of the Apparel Sourcing Fair were held at the KTPO in Bangalore from March 3rd to 5th. The event brought together over 130 manufacturers of fabrics, trims, embellishments, apparel, and apparel accessories to showcase their products and innovations.

The trade show provided a platform for manufacturers to exhibit their latest products, designs, and technologies to a diverse audience of retailers, brands, designers, and sourcing professionals. The event aimed to promote business opportunities, foster collaborations, and partnerships, and showcase the latest trends in the industry.

Some of the highlights of the event included the showcasing of eco-friendly fabrics and sustainable practices by various manufacturers. The event also had a dedicated section for the display of digital printing technologies, including sublimation printing, screen printing, and heat transfer printing.

In addition to the exhibition, the event also hosted seminars and workshops on topics such as sustainable practices, digital printing technologies, and innovations in textiles and apparel. These sessions provided attendees with insights into the latest trends and technologies in the industry.

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