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Textile 10-09-2022

Textile Value Chain: Leveraging Trade and Partnership Opportunities

10 September 2022, Mumbai:

Roundtable Conference Textile Value Chain: Leveraging Trade and Partnership Opportunities on 16th September 2022 at Mumbai

Chief Guest: Smt. Darshana Vikram Jardosh, Hon’ble Minister of State, Ministry of Textile, Government of India.

The interaction will focus following key areas:

New Markets and leveraging existing

FTAs Market access strategies for upcoming

FTAs like EU, USA, Israel Strategy for 5F Vision Issue Like NTBs, ROO, Anti-dumping Achieving global scale, standards, and competitiveness.

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Textile 10-09-2022

ITMA ASIA + CITME 2022: Focus on machines for Hi-Performance

09 September 2022, Mumbai:

ITMA ASIA + CITME 2022, Asia's leading business platform for textile machinery, will return to Shanghai for its 8th combined exhibition. ITMA ASIA + CITME 2022 will continue to serve as the leading-edge business platform in Asia for textiles.

The 2022 edition of ITMA Asia & CITME will be held at National Convention & Exhibition Center, Shanghai starting on 20th November. It is a 5-day event.

Monforts will highlight its technologies for special technical textile applications at this year’s ITMA
ASIA + CITME which takes place at the National Exhibition and Convention Center in Shanghai,
China, from November 20-24.

“Despite all the difficulties faced by everyone since the start of the Covid-19 pandemic, China has
remained the number one destination for textile machinery worldwide, making this year’s ITMA ASIA + CITME a must-attend event,” Mr. Meyer concludes.

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Textile 09-09-2022

Texvalley, Erode, TN: TAG EXPO @ Global Market

26 August 2022, Mumbai

Texvalley - An Integrated Textile Market, representing the entire South Indian Textile community, which has a very strong technical capability with an equally huge production capacity.

Texvalley is an excellent platform that provides support to market textile products in both Domestic & Export markets with complete Business Ethics, Compliance, and Certifications. Texvalley over the years has positioned itself as An One Point Destination for sourcing both Domestic and Global Textile products.

South India’s Largest B2B Festival Booking Fair - Textiles Apparel Garment Expo (TAG Expo) on 28 – 30 August 2022 @ Texvalley Global Market, Erode.

TAG Expo is organized to showcase the latest design and capabilities of our Textile Cluster to the Textile & Fashion world.

Highlights of TAG Expo 2022

· An opportunity to interact with National Top Buyers & Industry Leaders.

· One to One Business Meetings with Buyers.

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Textile 26-08-2022

$TexValley$

Grasim’s Q1FY23 results announced

13 August 2022, Mumbai:

The Q1 profit of Grasim surged by 67.9 per cent to Rs 808.6 crore as against Rs 481.6 crore in the year-ago period.

Grasim aditya birla's revenue surged 92.8 per cent year-on-year (YoY) to Rs 7,253 crore in the June quarter.

ALSO READ Grasim Industries names Pavan Jain as CFO

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At a consolidated level, the Aditya Birla Group company's net profit improved around 14 per cent to Rs 1,933.39 crore from Rs 1,667.30 crore in the year-ago period. The consolidated revenue was up 14 per cent YoY to Rs 28,042 crore.

Grasim Industries ltd’s 's EBITDA shot up up 78.4 per cent YoY to Rs 1,320 crore during the quarter while its operating margin came in at 18.61 per cent as against 20.01 per cent in the year-ago period.

Segment-wise, Grasim's viscose (fibre and yarn) business generated a revenue of Rs 4,299.88 crore in Q1 as against Rs 2,102.76 crore in the corresponding quarter of the last financial year. Revenue in the grasim industries chemicals unit also improved to Rs 2,733.3 crore from Rs 1,436.48 crore in the year-ago period.

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Textile 13-08-2022

Techtextil India: 9th edition to take place in Sep'23

07 September 2022, Mumbai:

Ninth edition of Techtextil India is to take place in September 2023 at the newly launched JIO World Convention Centre.

Messe Frankfurt India has announced that the ninth edition of Techtextil India will be held from 12 – 14 September 2023, for the first time at JIO World Convention Centre (JWCC), Mumbai. On the side-lines of the three-day fair, the organisers are planning a series of live sessions to spark debates on important industry topics and high-growth application areas.

Marking a spectacular comeback after the lockdown, the eighth edition of Techtextil India stood out to be a ground-breaking business platform for the technical textile sector with live demonstrations from over 150 companies’ brands and an exclusive German pavilion. The high-profile event, over the course of three days, attracted 4,087 trade visitors from 25 states and 194 cities.

The government’s target is to accelerate technical textile sector growth from 8% to 15-20% range in the next five years and transform the nation into a major player in innovations, technology development, and applications in key areas (agriculture, roads, and railways, water resources, hygiene and healthcare, personal protection) is giving strong impetus to industry players.

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Textile 07-09-2022

Lenzing: Looks to the future with green energy in Indonesia

24 August 2022, Mumbai

· Recent transition to green electricity will significantly reduce annual carbon emissions

· Milestone in the transformation of production capacities to LENZING™ ECOVERO™ and VEOCEL™ branded specialty viscose.

The Lenzing Group, a world-leading provider of wood-based specialty fibers, is expanding its global clean electricity portfolio and transitioning its production site in Purwakarta to green electricity.

The Indonesian subsidiary PT. South Pacific Viscose (SPV) has been using electricity generated solely from renewable sources since July this year, which will reduce its specific carbon emissions by 75,000 tonnes annually.

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Textile 24-08-2022

Vishal Fabrics Q1FY23 results posted

10 August 2022, Mumbai:

The standalone net profit of denim manufacturer Vishal Fabrics grew by 85 per cent to Rs 18.95 crore for the first quarter ended June. The company had posted a net profit of Rs 10.24 crore during the April-June quarter a year ago.

Vishal Fabrics revenue from operations increased by 49.90 per cent to Rs 442.10 crore during the quarter in comparison to a lower base of the pandemic-impacted corresponding quarter.

ALSO READ Vishal Fabrics promotes Vinay Thadani as new CEO

RELEVANT NEWS Vishal Fabrics clocks historic revenue, EBITDA & PAT

In the year-ago period, Vishal Fabrics revenue from operations was at Rs 294.92 crore.

Brijmohan Chirpal, Vishal fabrics director, Vishal denim fabric says, the company achieved sustainable margins during the quarter. It was successfully able to pass on the additional costs to consumers.

vishal export fabrics are strongly supported by well-developed infrastructure facilities as well as a team of dexterous personnel, Vishal Fabrics successfully handle the demands of a comprehensive range of embroidered fabrics.

Aesthetically designed, these are made available in various appealing colors, alluring patterns as well as in different size options. Further, the range can also be customized as per the specific requirements of the clients.

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Textile 10-08-2022

7 mega textile parks planned under MITRA scheme

06 September 2022, Mumbai:

Seven mega textile parks will be set up under the Mega Integrated Textile Region and Apparel (MITRA) scheme.

The states where these parks will be set up have almost been finalized but they have been asked to provide a long-term projection for power tariffs that would be charged at these parks. The centre is trying to get a few things from the states by way of concessions and is trying to get states to agree to a better power regime. In some states, the cost of power is quite high, which the centre would like to see reduced. The states have been asked to submit a long-term roadmap— say, 15 years—of the power tariff that would be charged at these textile parks and they have been requested to refrain from raising power charges for 15 years.

The Mega Integrated Textile Region and Apparel scheme was announced in budget 2021 to make the textile industry globally competitive. It was given a budget ofRs 4,445 crores for seven years.

India’s textile and apparel exporters complain that a largely fragmented supply chain and higher logistics costs push up the cost of production—one reason export orders have steadily moved to countries such as Bangladesh and Vietnam. These mega parks are aimed at helping return textile orders as a result of a planned integrated textiles value chain—including spinning, weaving and processing —at a single location.

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Textile 06-09-2022

7 mega textile parks planned under MITRA scheme

Piyush Goyal: Textile industry to grow to $250 bn in 5 years

22 August 2022, Mumbai

The value of India’s textile industry can increase to $250 billion in the next 5-7 years and help the country become a developed economy, said PiyushGoyal, Textile Minister at the Asian Textile Conference (ATEXCON) organized by the Confederation of Indian Textile Industry.

Goyal also urged the industry to make the best use of the free trade agreements (FTAs) that India is entering into.

The minister stated that unless there is a significant ramp-up of India’s exports to these areas, it won’t get the satisfaction that it is doing the right thing. He emphasized greater and more visible outcome from the textile sector.

Referring to the memorandum of understanding (MoU) between CITI and Egyptian Cotton, Goyal said, the MoU will help both countries reduce the trust deficit between them

He urged the industry to introduce high-quality products and elementary products like zipping and embellishments that are currently being imported.

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Textile 22-08-2022

Archroma: To acquire Huntsman Corporation's Textile Effects business

08 August 2022, Mumbai:

The combined company will continue to lead the textile industry in sustainability, innovation, and performance offering fashion brands, automotive, technical, and home textiles the best-in-class cost performance whilst respecting natural resources and the planet.

ALSO READ Archroma partners with UNCG on color expert education

“I am thrilled to see the combination of Huntsman Textile Effects and Archroma”, said Barry Siadat, Co-founder of SK Capital Partners and Chairman of Archroma. “Finally, we have achieved a dream of combining the technologies, products, and capabilities of the legacy pioneers of the textile industry, namely Ciba, Sandoz, Hoechst, and BASF, into a modern and cohesive enterprise that is focused on delivering innovative and sustainable systems and solutions to serve the evolving needs of today’s textile industry.”

“We at Archroma are so very excited to announce what we see as a merger of equals”, comments Heike van de Kerkhof, CEO of Archroma. “With this agreement, two committed leaders in sustainable and innovative solutions unite to pave the way towards a more sustainable textile industry. We are delighted to welcome a team of highly talented people”, adds Heike van de Kerkhof. “Innovative and transformative leadership is not built overnight, and we are eager to work together with the people who made that happen at Huntsman Textile Effects.”

“The combination of Archroma dyes and Textile Effects is transformational, bringing together two highly complementary organizations with strong cultures of innovation and a shared commitment to inspire advancements in the textile industry.

We are excited by what we will be able to achieve together. At a time when we are seeing robust growth trends in sustainability, the merger will position us firmly to accelerate growth and drive significant value for our customers, employees, and stakeholders,” said Rohit Aggarwal, President of Huntsman Textile Effects.

The closing of the Archroma Huntsman transaction is subject to customary conditions and approvals and is expected to take place in the first half of 2023.

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Textile 10-08-2022

TEXPROCIL: Textile Sector could grow to $250 Bn & exports $100 Bn

29 August 2022, Mumbai

Upendra Prasad Singh, Textile Secretary stated that the government is looking at value-added exports like fabrics, made-ups & home textiles as exports of raw materials may not rise further due to increasing local demand.

While felicitating the winners of the TEXPROCIL Export Awards 2020 – 2021 on 23 rd August 2022 in Mumbai, he informed that the govt. has commissioned the PLI Scheme, MITRA Parks Scheme, GATI Shakti Scheme with a view to attracting investments in the sector, reforming infrastructure, and addressing logistic bottlenecks.

He also said that focusing on key growth areas like ‘sustainable textiles’, ‘technical textiles’ and ‘natural fibres’ and high-end technology is the success mantra for the future growth of the textile industry. Mr. Upendra Prasad Singh, Union Textile Secretary, and Ms. Roop Rashi, Textile Commissioner felicitated the winners of the TEXPROCIL EXPORT AWARDS 2020 – 2021 at Hotel President, Mumbai on 23 rd August 2020.

The Cotton Textiles Export Promotion Council (TEXPROCIL) distributed 61 awards to 45 companies in 33 categories. Shri Manoj Kumar Patodia, Chairman – TEXPROCIL stated that textile and apparel exports achieved their highest ever level in the year 2021 – 2022 with an export turnover of USD 44.4 Billion, growing by 40% over the previous year.

During the same period, the export of cotton textiles (including raw cotton) grew by 54%, reaching a level of USD 16.42 Billion. In the next 5 to 7 years, the Indian textile industry could expand in size to USD 250 Billion and achieve exports of USD 100 Billion.

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Textile 30-08-2022

Piyush Goyal: Textile Industry's role pivotal in making FTAs a success

18 August 2022, Mumbai:

Free trade agreements (FTAs) with the developed world are an important agenda of the Modi government: Goyal.

Piyush Goyal calls upon the Textile industry to focus on innovation and sustainability to drive growth.

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Union Minister of Textiles, Commerce & Industry, Consumer Affairs and Food & Public Distribution, Piyush Goyal said that Textile Industry has a big role to play in making Free Trade Agreements a success. Delivering the Keynote address at the 10th Asian Textiles Conference TEXCON on the theme- 'Reimagining the Textile and Apparel Industry for the next Decade', he said that FTAs with Developed Countries is high on the agenda of Modi Government.

Piyush Goyal, Textile Minister said that innovation is going to be the defining feature in India's march towards becoming a Developed Nation. He highlighted the role of innovation across all value chains in the Textile sector and also urged the Textile sector to focus on recycling and digitization. He said if the industry focuses on innovation, sustainability, digitisation, newer products and utilisation of Free Trade Agreements (FTAs), it can grow fast and compete with the best in the world.

RELEVANT NEWS CITI, TEXPROCIL& SIMA: Hail govt holistic view on cotton textile value chain

Speaking on sustainability, Goyal said that textile sector can reduce the pressure on the environment by using reusable resources as well as reduce its own production costs.

Piyush Goyal said that digitization is another area that can help optimize the entire value chain in the sector.

Referring to PM’s independence speech where he referred to Panch Pran of Goal of Developed India.

CITI and Egyptian Cotton also signed a Memorandum of Understanding (MOU) in the presence of the Ministry of Textile, Piyush Goyal. Both the industry bodies will work together for mutual benefits.

T. Rajkumar, chairman of the Confederation of Indian Textile Industry (CITI) in his welcome address said that the global textile industry is witnessing a reshuffle of the entire supply chain including the countries from which apparel is sourced. Terms like ‘China Plus One’, re-shoring, onshoring, etc are being commonly heard in interactions across the textile value chain.

(PIB report)...The news article has not been edited by DFU Publications

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Textile 18-08-2022

ReshaMandi: Launches ReshaMudra

09 August 2022, Mumbai:

ReshaMandi launched ReshaMudra to offer personalised credit solutions for the textiles industry.

ReshaMandi, India’s largest farm-to-fashion natural fibre digital ecosystem, unveiled its new venture ReshaMudra, which offers personalised credit solutions for the textiles industry.

ALSO READ ReshaMandi: ReshaWeaves store opened in Delhi

ReshaMudra will give business partners across the ecosystem access to working capital solutions as well as long-term loans, enabling them to secure crucial funding to help them grow their businesses or tide over challenging times. All of these offerings are subject to regulatory approvals from respective authorities.

A majority of India’s micro, small and medium enterprises currently face working capital pressures as they lack access to credit. Today, only 20% of their credit needs are met by the formal sector and 40% by the informal sector.

ReshaMandi’s Founder and CEO, Mayank Tiwari said, “India’s textile sector is on course to becoming a $190 billion powerhouse by 2025-26. But lack of access to credit could stifle that potential as nearly 80% of the country’s MSMEs today is faced with this challenge. Our vision is to be the partner of choice to stakeholders across the textile industry by providing customised, financial products that are cost-effective and easy to use.

” Kshitij Kuthiala, AVP, ReshaMudra, says “With the textile industry picking up pace, it is imperative to provide the stakeholders in the supply chain with credit solutions that cater to their needs and facilitate their growth.

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Textile 09-08-2022