22 December 2023, Mumbai

WHY India

Opening with a bang:

1. Texcon '23 wasn't just a conference; it was a clarion call. Under the banner "Transforming India into a Global Textile Hub," industry leaders, from the Confederation of Indian Industry to Bollywood icon Pankaj Tripathi, united to declare a pivotal moment for the nation's textile sector.

   Highlighting the urgency:

   Cooperation, innovation, and a dash of government support—these were the ingredients deemed essential to overcome challenges and unleash the industry's potential. Sustainability, championed through initiatives like blockchain-powered Kasturi Cotton, was positioned as the catalyst for this growth.

   Ambition takes center stage:

   $250 billion by 2030—that's the staggering sales target India set for its textile industry, with $100 billion earmarked for exports. An "India-first" approach resonated throughout the event, urging stakeholders to embrace collaboration and tap into the sector's immense manufacturing prowess.

   Addressing the roadblocks:

   Headwinds like export dips in the first half of the year were acknowledged, but October's positive growth offered a glimmer of hope. Experts like Sivaramakrishnan Ganapathi and Kulin Lalbhai pointed to gaps in synthetic fiber production and value chain deficiencies as areas demanding immediate attention.

   Hope amidst the challenges:

   The "China-plus-one" strategy, with its potential influx of global brands seeking alternative production hubs, fueled optimism among industry insiders. Comparisons with other Asian manufacturing destinations, coupled with India's strengths like stable governance and strong raw material base, further bolstered confidence.

   Conclude with a call to action.

   Texcon '23 wasn't just a conference; it was a roadmap. A roadmap for revolutionizing India's textile landscape and for weaving a future where "Made in India" becomes synonymous with quality, innovation, and global leadership. Now, it's time to roll up our sleeves and turn our aspirations into reality.

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15 December 2023, Mumbai

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Build lasting relationships with key players.

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  ChromaTexChem is more than just an event - it's a catalyst for success.

  From textiles and leather to food and electronics, colorants, specialty chemicals, and industry knowledge are the threads that weave value into diverse industries.

  Textiles take center stage, with dedicated spaces for knowledge sharing and forging connections.

  But ChromaTexChem's reach extends far beyond, offering a global platform unmatched in its scope and impact.

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In a virtual meeting, key associations representing spinning mills in Southern India, including SIMA, TASMA, SISPA, ISMA, RTF, RSF, APTMA, and TSTMA, discussed strategies to address the severe financial crisis plaguing the region's textile industry. The Southern States, comprising Tamil Nadu, Andhra Pradesh, and Telangana, which contribute to 55% of the nation's spinning capacity, have been grappling with an 18-month recession exacerbated by global economic slowdown, domestic market sluggishness, and import-related challenges.
The industry has witnessed a sharp decline in cotton yarn exports, plummeting by 56% from April to September 2023 compared to the previous fiscal year. Contributing to the woes are increased power costs, up to Rs.2.50 per unit, making Southern States less competitive globally. Unlike other states like Maharashtra and Gujarat, which offer substantial incentives, the Southern textile industry faces volatility in cotton prices, surplus production capacity, and reduced exports.
The ongoing Ukraine-Russia conflict, Israel-Hamas war, and issues related to Man-Made Fiber Quality Control Order have further strained the financial health of spinning mills nationwide, particularly in the South. Adding to the predicament is an abnormal surge in imports, with a notable increase in cotton and viscose fiber, cotton and polyester yarn, polyester fabrics, garments, and made-ups from China, Bangladesh, Vietnam, and Sri Lanka.
In response, Dr. S. K. Sundararaman, Chairman of SIMA, issued a press release outlining urgent appeals. These include requests to the Chief Ministers of Tamil Nadu, Andhra Pradesh, and Telangana to roll back recent power tariff hikes for a year, and to the Prime Minister for a one-year moratorium on loan repayments, conversion of ECLGS loans, financial assistance for working capital, removal of the 11% cotton import duty, and addressing QCO-related issues.
The associations also urged all state governments to suspend incentives for spinning capacity expansion until oversupply issues are resolved. To emphasize their plight, they proposed a one-week production stoppage and advised a 35% reduction in production across the spinning sector. The crisis, if unaddressed, could lead to the closure of large-scale spinning mills in the region.

20 December 2023, Mumbai

Lenzing Group, a global leader in wood-based specialty fibers, recently orchestrated 'The Lenzing Conclave' in Ahmedabad, a renowned textile hub.

Emphasizing Lenzing's enduring commitment to innovation and responsible manufacturing, the event provided a pivotal platform for industry stakeholders to discuss sustainable textile advancements and future opportunities.

Outlines

The conclave spotlighted Lenzing's latest innovations under TENCEL and LENZING ECOVERO fiber brands, with a particular focus on products blending TENCEL fibers and cotton tailored for the Indian market.

Ahmedabad's fabric mills and traders, stalwart consumers of Lenzing fibers, have significantly influenced end fabrics in fashion, denim, home textiles, and intimate wear, gaining traction both domestically and in export markets.

Demonstrability

The exhibition showcased Lenzing's cutting-edge developments across major segments, offering a hands-on experience for participants to explore the versatility and quality of Lenzing fibers. Avinash Mane, Senior Commercial Director of AMEA & NEA region, Textiles Business, Lenzing Group, hailed the conclave's success in fostering collaboration, innovation, and sustainable practices.

The event affirmed Lenzing's role as a trusted partner in Ahmedabad's textile industry, contributing to the creation of high-quality, sustainable fabrics for global markets.

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05 December 2023, Mumbai

RSWM Expands Empire, Eyes Leadership in Spinning and Knitting

LNJ Bhilwara Group's subsidiary, RSWM Ltd., has a major acquisition in its sights! With a binding term sheet signed, they're set to acquire Ginni Filaments' spinning, knitting, and processing units in Mathura for Rs 160 crore. Expect the deal to close within 90 days, pending approvals.

RSWM's Big Boost:

• Turnover, workforce, and capacity are set to soar.
• position to become the leader in spinning and knitting fabrics.

Tech Upgrade on the Horizon:

• State-of-the-art technology like compact ring frames and advanced carding and combing machines is incoming.
• Power infrastructure gets a much-needed overhaul.
• Recoveries, productivity, and premium product variety are all set to gain.

Thinking Beyond Borders:

• Expansion beyond Rajasthan promises a turnover surge.
• Global customers are the next big target.
• RSWM's industry dominance is about to solidify.

Eco-friendly and efficient operations are a key priority.

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20 December 2023, Mumbai

India's newly-elected president of the International Textile Manufacturers Federation (ITMF), K.V. Srinivasan, sees a significant opening for the country in the global textile market.

With international buyers seeking alternatives to China, India has a prime opportunity. However, global demand slumps and rising inflation pose challenges.

Granularity

Srinivasan notes surprising domestic textile demand lows, even during festivals, emphasizing room for Indian industry competitiveness improvement.

The Southern India Mills' Association (SIMA) recently felicitated Srinivasan, with ITMF Director General Christian P. Schindler highlighting global industry dynamics in a virtual presentation.

Key takeaways:

• Shifting global demand presents a golden opportunity for India's textiles.
• Domestic competitiveness and internal demand need urgent improvement.
• ITMF offers a platform for India to voice concerns and share best practices.
• Innovation and sustainability are key to long-term success.

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13 December 2023, Mumbai

Lower yarn demand, high cotton costs, and depressed prices pummel profits for major cotton spinning firms.

CRISIL Ratings predicts a 13–15% revenue drop and a 250–300 basis point profit decline, with margins at record lows.

Despite the gloom, CRISIL maintains their financial stability.

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05 December 2023, Mumbai

WHY India

Are we in for better days?

Exports surge as Western demand heats up

Christmas cheer is spreading to India’s textile industry, with exports booming thanks to increased demand from Western markets. After a year of decline, the sector is finally bouncing back, clearing excess stock and weaving a brighter future.

Numbers tell the story: 3.7% growth in September

The Index of Industrial Production (IIP) reveals textile exports are growing for the third month in a row, with a 3.7% jump in September compared to last year. This upward trend fuels optimism, with Sanjay Jain, head of the National Expert Committee at the Indian Chamber of Commerce, predicting a strong recovery. He expects India’s textile exports to soar by 8–10% in the fiscal year 2024.

Cotton, fabric, yarn — all on the rise

The Ministry of Commerce and Industry confirms the good news, reporting a significant 5.7% increase in exports of cotton, fabric, yarn, and handloom products between April and October, compared to the previous April-August period. It’s a welcome change after lagging pre-pandemic levels.

The pre-COVID gap remains, but optimism prevails

Despite the positive momentum, India’s textile sector still trails its pre-COVID production levels. Data from the Ministry of Statistics and Program Implementation (MOSPI) reveals a 6.5% gap compared to the 2019–20 period. Sunil Kumar Sinha, Chief Economist at Ind-Ra, underlines the crucial role of global trade factors in shaping India’s long-term textile prospects.

Brighspot: Aspirational journey

With Christmas orders filling pockets and optimism high, India’s textile industry seems poised for a festive season of growth. 

The road ahead may hold challenges, but the threads of resilience and adaptability are woven into the fabric of this crucial sector.

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Birla Cellulose, a trailblazer in sustainable fiber solutions, orchestrated a pivotal hub-meet at The Residency in Karur, spotlighting the revolutionary potential of sustainable Man-Made Cellulosic Fibers (MMCF) within the Home Textiles sector. Attended by 175 influential exporters and company owners from the Karur cluster, the event sought to catalyze sustainable innovation in the industry.
At the core of the discussions was the deployment of sustainable MMCF solutions in the Home Textiles arena, providing a pathway to eco-friendly, high-quality products aligning with contemporary consumer preferences for sustainability. Esteemed value chain partners like AGT Mills, PKPN, Kumaran, and Ultimax actively participated, demonstrating a collective commitment to propel sustainable practices across the textile ecosystem.
Distinguished guests, including K. G. Prithvi and S. Gowrisankar, along with industry stalwarts Perumal and Kaliappan, graced the event, endorsing Birla Cellulose's initiative to guide the industry towards adopting the MMCF range. Industry leaders expressed enthusiasm for integrating Birla Cellulose's fibres into their regular product offerings, marking the commencement of an incubation process for sustainable and economical substitutes.
The spotlight was on Birla Cellulose's innovative Spunshades, featuring Color Lock Technology that prevents fabric fading even after multiple washes. The positive response from industry leaders and exporters reflects a promising trajectory for Birla Cellulose's transformative and responsible innovations, as articulated by Sheerish Kumar, Senior Vice-President of Business Development for Home Textiles at Birla Cellulose.

02 December 2023, Mumbai

Birla Cellulose, a flagship brand of Grasim Industries Ltd., has once again secured the top position in Canopy's Hot Button Report 2023, cementing its reputation as a leader in sustainable Man-Made Cellulosic Fibers (MMCF) production.

This remarkable achievement marks the fourth consecutive year that Birla Cellulose has been awarded the coveted 'Dark Green Shirt' rating, underscoring its unwavering commitment to conserving ancient and endangered forests and promoting circular solutions within the fashion industry.

Empowering Fashion Brands with Informed Sourcing Decisions

Canopy, a leading environmental organization dedicated to protecting forests, publishes an annual Hot Button Report that serves as an essential guide for fashion brands and retailers seeking responsible sourcing partners. This comprehensive report assesses MMCF suppliers based on their commitment to sustainable forestry practices, transparency, and the development of next-generation fiber solutions.

Birla Cellulose: A Champion of Sustainable Practices

Commenting on Birla Cellulose's exceptional ranking, Mr. H.K. Agarwal, Managing Director, Grasim Industries Ltd., and Business Director Birla Cellulose, expressed his pride in the company's unwavering dedication to sustainability. He emphasized that this recognition serves as a testament to Birla Cellulose's continuous efforts to enhance sustainable wood sourcing practices, promote forest conservation, drive innovation, and ensure transparency across the entire value chain.

Contributing to Global Biodiversity Conservation

Birla Cellulose actively collaborates with global MMCF producers to support the Convention on Biological Diversity's ambitious goal of conserving at least 30% of terrestrial ecosystems by 2030. The company recognizes the critical role of forests in maintaining biodiversity and mitigating climate change.

Pioneering Circularity in the Fashion Industry

At the forefront of industry collaboration, Birla Cellulose works closely with brands, supply chain partners, and key stakeholders, including Canopy, Fashion for Good, and Circular Fashion Partnership, to drive the adoption of circularity principles within the fashion sector. The company is committed to reducing the environmental impact of the fashion industry by promoting resource efficiency, recycling, and the development of sustainable fiber alternatives.

Nicole Rycroft, Executive Director, Canopy, commended Birla Cellulose's unwavering commitment to sustainability, stating, "A hearty congratulations to Aditya Birla for securing the top spot in Canopy's 2023 Hot Button Report.

We commend their hard work to remove Ancient and Endangered Forests from the MMCF supply chain and are encouraged by their consistent progress to bring Next Gen fibres to market at scale."

Birla Cellulose's exceptional performance in Canopy's Hot Button Report 2023 serves as a beacon of hope for a more sustainable future within the fashion industry. The company's unwavering commitment to conserving ancient and endangered forests, promoting circularity, and developing next-generation fiber solutions sets a high standard for others to follow.

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