28 April 2022, Mumbai:

Spinners Association (Gujarat) or SAG plans to invest Rs 3,500 crore over the next year and a half to adding 7 lakh new spindles in the state to boost its spinning capacity.

As per SAG, many spinning mills in Gujarat plan to expand operations while 10 new spinning mills are expected to start operations during this period.

ALSO READ ICRA report: Sees textile spinning sector to post robust growth revenue in FY22

Saurin Parikh, President, SAG notes, that at least 7-10 lakh spindles will be added across the state over the next 18-24 months.

Gujarat currently has about 110 spinning mills with an installed capacity of 45 lakh spindles.

RELEVANT NEWS Maharashtra spinning mills appeal to government for 'Extension of Power Rebates'

Most of these mills were set up after the implementation of the Textile Policy of 2012.

Bharat Boghara, Chairman, SAG adds, that Gujarat did not have significant spinning capacity till 2012 despite being a leading cotton-producing state. The state needs to increase spinning capacity to create higher demand for cotton.

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25 April 2022, Mumbai:

*WITH EUROPEAN, AND US BRANDS OUT.
Russian Ecommerce, Pharma, Food Retail Firms Turn to India.

ALSO READ Russia @ War: Emerging opportunities for Indian Brands

*Russia's e-commerce platforms Ozon and Yandex Market, food supplements firm Pharmstandard, dental products distributor Simkodent, largest food retailer X5 Retail Group and confectionery major UNICONF are among several Russian companies that have reached out to India for business ties amid Moscow's conflict with Kyiv.

Russia can expect more brands approaching India, which serves as an excellent opportunity for them and us. There have been other news that about a dozen Russian franchises will shortly approach the Indian fashion and apparel industries and explore opportunities and partnership profits.

RELEVANT NEWS Russia at war: Decathlon, closes Russian outlets

With the conflict between Russia & Ukraine and the emerging global crisis in the market, India has taken the opportunity to invade and grow its apparel and fashions market in Russia.

RELEVANT NEWS Russia at War: Uniqlo suspends Russian ops temporarily

As a pulse check, 'Indian Brands' are monitoring the situation pretty closely as they expect to earn/cash in on substantial visibility & growth from this region.

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CREDITS: *ET Dt 25-04-2022 (The news article has not been edited by DFU Publications).

21 April 2022, Mumbai:

India's first and largest digital ecosystem for natural fibre supply chain Reshmandi has set up Asia's second-largest cocoon warehouse in Ramanagara.

Benefitting over 30,000 sericulture farmers and serving over 6,000 reelers, the warehouse will optimize the silk value chain and increase production.

ALSO READ Tamil Nadu manufacturers halt production of silk dhotis

Mayank Tiwari, CEO, and Founder, of Reshamandi says, the warehouse will provide several prospects and opportunities to the whole supply chain ecosystem.

It will help the company implement a comprehensive set of actions onsite for the farmers’ ease and monetary gain.

RELATED NEWS Isabelle Moulin, French textile artist promotes Indian silk

Reshamandi currently sources fabrics, saris, and accessories directly from 5,500 weavers and 6,000 plus reelers.

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27 April 2022, Mumbai:

Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Shri Anurag Jain said the number of patents granted has grown five times in a matter of seven years since the Government adopted the Intellectual Property policy in 2016. Shri Jain said the number of Trademarks registered has also increased four-fold during the period.  

ALSO READ DPIIT conducts Mega Buyer-Seller Meet in J&K under ODOP

He was addressing the Inaugural Session of the day-long conference on "Leveraging India's Demographic Dividend through IP" here today, organized by the DPIIT and FICCI on the occasion of this World IP Day. Shri Jain said the government has taken a series of measures, including reducing the number of forms for trademarks and patents, to further strengthen the country's IPR (Intellectual Property Rights) regime.

He said that in trademarks, there used to be 74 forms but now they have been reduced to just eight, and similarly, for patents, all the forms were scrapped and now there is only one form.

RELEVANT NEWS Department for Promotion of Industry and Internal Trade (DPIIT) to organize Startup India Innovation Week

Jain said, as various Government Departments roll out Vision @2047 for the next 25 years during the Amritkaal, the most important driving factor will be Knowledge and Innovation.

“Only those industries which invest in Knowledge and Innovation would survive. And for Knowledge and Innovation to survive, Intellectual Property becomes a very, very important tool,” said Shri Jain, adding, “And another important aspect to that is the Startups.” Shri Jain said since the Startup initiative was launched in 2016, in the space of six years we have grown to be the third-largest Startup ecosystem.

Last year, in the number of Unicorns, created, we overtook China and we were the second-highest.

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CREDITS: PIB (The news article has not been edited by DFU Publications staff)

24 April 2022, Mumbai:

Future scraps deal after 'no' by Future Retail's lenders.

Future could face bankruptcy issue after RIL deal failure.

READ MORE Reliance Retail takes over Future Group stores

As per the results, shareholders and unsecured creditors of FRL have voted in favour of the scheme but the secured creditors of FRL have voted against the scheme (deal).

In view thereof, the subject scheme of arrangement cannot be implemented- RIL in a regulatory filing.

Reliance Industries (RIL) said on Saturday it has called off the proposed deal to acquire Future Retail's (FRL) assets for Rs 24,700 crore, as a majority of secured lenders to the Big Bazaar parent have voted against such a takeover.

RELEVANT NEWS Reliance Retail takes over Future Group stores

FRL had cited its litigation with Amazon as one of the major reasons for its failing to pay its dues.

After the proposed Future Reliance deal was announced nearly two years ago, Amazon had dragged FRL to a Singapore-based emergency arbitrator over an alleged breach of contract.

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CREDITS: TOI Dt 24-04-2022 (The news article has not been edited by DFU Publications staff ).

27 April 2022, Mumbai:

CII’s Business Summit 2022 is scheduled for 11-12 May 2022 at Taj Palace Hotel, Sardar Patel Marg, New Delhi.

The theme for the Summit is “Being Future Ready”.

ALSO READ CII x Min of Textiles: International Conference on Technical Textiles, 12 March

The CII Business Summit will witness one of the largest gatherings of stakeholders interested in Indian industry’s journey.

It will bring together eminent leaders, strategic thinkers, leading economists, young icons from various fields, captains of Industry, and media to capture their perspectives across major tracks such as Geopolitics & Geoeconomics, Competitiveness, and Technology, Sustainability, Healthcare, Community, and B20.

RELEVANT NEWS CII-Conference: Creating the Winning Leap in Technical Textiles

Sessions on these tracks would be conducted to gather ideas, trends, and solutions for Indian businesses to develop a growth strategy for the future.

Over 1000 leaders from industry and other fields are expected to attend the event.

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23 April 2022, Mumbai:

Speakers Address Textile Issues

Everyone is invited to AATCC's virtual May Interest Group meetings! AATCC Interest Groups allow textile professionals to address their area of interest within AATCC. 

During the Spring Committee Meetings, the four Interest Groups host speakers to give attendees the opportunity to learn from the experts in their area of interest.

ALSO READ AATCC Announces Dates for Fluorescence and High Visibility for Textiles

The Concept 2 Consumer® Interest Group (C2C IG) is intended for designers, merchandisers, product developers, colorists, and others from brands, retailers, and commercial testing labs to share their interest in color and quality, and the challenges of working with a complex textile supply chain.

This Spring, the C2C speaker is Keith Hoover, President of Black Swan Textiles LLC. Hoover will present, “Resurrecting Fashion: Digitalization and the Path Forward.”

RELEVANT NEWS AATCC Journal of Research Hosted on SAGE

The Chemical Applications Interest Group (CAIG) seeks to stimulate and expand the knowledge base of applying chemicals (preparation aids, colorants, finishes, polymers, etc.) to textile substrates.

The mission of the Rising Professionals Interest Group (RISE) is to address professional development, networking, mentorship, leadership, and other aspects of a career in textiles.

The Materials Interest Group (MIG) was formed to stimulate and expand the collective knowledge and development of new materials related to the fiber and fiber products industries.

All the Spring 2022 meetings will be virtual, so you can attend from anywhere.

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21 April 2022, Mumbai:

Weaving and processing units in Surat are struggling with raw material shortages and their rising prices.

Prices of coal and lignite in the city have increased by over 100 percent, electricity bills have surged by about 10-15 percent while labor charges are surging by 12 percent.

Ashok Badani, Owner of a processing unit says, the prices of polyester yarn in the city have jumped by over 30 percent in the last six months.

ALSO READ Surat aims to be India’s new garment hub

This is making it difficult for weavers to buy yarn in large quantities, he adds.

The steep rise in inputs costs is also disrupting production activities with most units running one shift 12-hour shift a day, adds Lalit Pipalya, Weaver.

Before the pandemic, weavers processed nearly 40 million meters of fabric per day. But now, the process is only about 30 million meters a day.

This threatens a 65 percent decline in cluster turnover this year.

RELATED NEWS Lenzing: Supply Chain Solutions Hub Inaugurated in Surat

Weavers’ operating margins are also being squeezed as they do not pass all additional costs to consumers.

However, this has led to a 50 percent decline in their own profit margins.

Over 75 percent of the 50,000 plus weaving units and more than 400 textile processing houses in Surat are relatively small units or MSMEs.

Jitendra Vakharia, President, of the South Gujarat Textile Processors Association (SGTPA), says, their small capacities make it harder for them to absorb the sudden hike in raw materials and other costs.

The Surat textile cluster provides direct employment to over two million people in the city.

27 April 2022, Mumbai:

About Pallava Textiles Private Limited

Pallava Textiles Private Limited manufactures textiles.

The Company offers yarns, fabrics, and raw materials. Pallava Textiles serves customers in India.

ALSO READ Birla Cellulose: Ties-up for MMCF production with 'Renewcell'

Pallava Textiles Ltd is recognised as a LEADER IN 'MAN-MADE CELLULOSE VALVE CHAIN' by Aditya Bira Group 19.04.2022.

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CREDITS: Pallava Textiles

22 April 2022, Mumbai:

With the vision to promote sustainable trade and create market linkages, a mega buyer-seller meet was organized on 21st April 2022 in Jammu and Kashmir under the One District One Product initiative of the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry with the support of Jammu & Kashmir Trade Promotion Organization (JKTPO).

The Buyer-Seller Meet witnessed the presence of multiple national and International Brands with a cumulative revenue of over Rs 8,000 Crores and having their products available in over a million retail outlets across the world.

ALSO READ In the textile sector, Jammu & Kashmir (India) has a lot of potentials: Textiles by MoS

Sellers, Traders, Farmers, and Aggregators from various districts of Jammu & Kashmir showcased their products that are unique to the valley including the world-famous Kashmiri saffron, Himalayan White Acacia Honey, Red shiny Kidney beans, freshly grown organic vegetables, and more.

The Buyer-Seller Meet provided a platform where different Government departments and institutions came together to boost the trade of selected products.

Jammu & Kashmir agriculture and industries department worked together to bring quality products as per market requirements and it was imperative to connect this best-in-class product with renowned brands to improve earning potential of farmers.

RELATED NEWS LuLu Group, UAE J&K government & signed a Memorandum of Understanding (MOU)

Collective discussion among all the stakeholders generated innovative ideas on diversification of products such as saffron-based dairy products, Walnut-based bakery products, and more.

Focused trade discussions were facilitated between the buyers and sellers which resulted in the signing of Letters of Intent for 4 products amounting to INR 1.2 crores. The above is a direct outcome of the vision of ‘Aatmanirbhar Bharat’ (Self Reliant India).

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CREDITS: PIB (The news article has not been edited by DFU Publications staff).

21 April 2022, Mumbai:

Piyush Goyal calls upon the Cost & Management Accountants to ensure quality production by industry and helps boost India’s exports.

Exports are the virtuous circle of prosperity that we have to focus upon-Goyal.

ALSO READ Piyush Goyal: Indo-Australia trade agreement to gain 'Hi-Quality Australian Cotton'

“As the Prime Minister says, ‘When each one of us takes one step, it’s 135 crore steps towards prosperity”, Goyal.

Union Minister of Commerce & Industry, Consumer Affairs and Food & Public Distribution and Textiles, Piyush Goyal has called upon the Cost & Management Accountants to ensure quality production by industry and help boost India’s exports.

RELATED NEWS Piyush Goyal: EPCs & MSMEs must engage with other nations to develop new markets

Cost Accountants help make the Indian Industry cost-competitive and cost-conscious, he said. “If we start loading costs to our export products and if we literally start doing marginal costing, on the other hand, it can make a world of difference to our cost competitiveness, our ability to increase our exports, and, frankly, our ability to (a) recover its cost and (b) start reporting profits,” said Goyal.

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CREDITS: PIB (The news article has not been edited by DFU Publications staff).