8th September 2021, Mumbai:

The industry is optimistically expecting to work out detailed guidelines of the scheme for the Textile sector on the back of the already announced slew of measures under the new Textile ministry.

According to sources with a financial outlay of Rs 10,683 crore over five years to boost domestic manufacturing and exports from the sector, this will empower trade to enhance the sector's competitiveness and manufacturing viability.

To put in quick context,"The Cabinet had earlier approved PLI schemes in 13 key sectors for enha­ncing India's manufacturing capabilities and exports".

The ambitious scheme aims to create world-class global champion companies in these segments as NITI Aayog envisages the schemes to deliver tangible results.

Man-made fiber (MMF) garments account for just 10% of India's overall clothing exports, which were around USD 16 billion in 2019-20. Former President of the Federation of Indian Export Organisations (FIEO), S K Saraf, stated that the government should promote both the MMF and technical textiles industries because their export share in the global market is now low.

"PLI will aid in the expansion of industry and exports. This push is necessary "Saraf said. Chairman of the Apparel Export Promotion Council (AEPC), A Sakthivel, expressed similar sentiments, saying that the council has asked the government to implement the PLI program for both of these categories, as it will assist increase India's share of the global market.

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03 September 2021, Mumbai:

Textiles Minister Piyush Goyal announced on Friday that the industry would meet its USD 44 billion export objective in 2021-22 and that the government and the industry have decided to strive for USD 100 billion in outbound shipments over the following five years.

He also stated that the Union Cabinet would soon adopt the Production Linked Incentive Scheme for technological textiles and man-made fibers, which will promote local production and exports.

According to the minister, the planned Mega Investment Textiles Parks (MITRA) project, which calls for the establishment of seven such parks around the country over the next three years, is nearing clearance. "I'm pleased with how the textiles industry has embraced the notion of setting higher goals. In the next five years, we must aim for a USD 100 billion export objective "he stated He went on to say that exports must be able to stand on their own two feet and be self-sustaining, as subsidies will not always be available.

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On free trade agreements, he stated that India is in talks with other countries to accelerate FTAs or PTAs (preferential trade agreements). This dialogue has continued with the United Kingdom, the European Union, the United Arab Emirates, and Australia, among others. Goyal also stated that they are collaborating with the finance ministry on an interest equalization program and an increase in insurance coverage.

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7th September 2021, Mumbai:

Aside from implementing sustainable efforts in their own manufacturing operations, several firms are also educating students at the elementary and secondary levels. Vardhman Textiles, Ludhiana, organized an event at Government Senior Secondary Smart School, Mundian Kalan, on the occasion of the International Day of Clean Air for Blue Sky.

The purpose of the event, as well as its subject of "healthy air, healthy earth," was to raise awareness about environmental conservation among schoolchildren.

The program was conducted in collaboration with the Punjab Pollution Control Board (PPCB), whose representatives were on hand to inspire schoolchildren. The children were invited to express their creativity by drawing their visions for a cleaner, healthier world.

Following the painting competition, kids participated in cultural events and gave speeches about pollution and the need to manage it. Over 80 kids from the school took part in the ceremony, and they were given presents of appreciation.

Senior officials from the Punjab Public Service Commission (PPCB) Ludhiana judged the tournament and addressed the students. Vardhman, Rikki Raj, Arvind Jha, Raju, Parmod, Mukesh Kumar, and Dhiraj Mehta from Team Vardhman, Rikki Raj, Arvind Jha, Raju, Parmod, Mukesh Kumar, and Dhiraj Mehta from Team Vardhman, Rikki Raj, Arvind Vardhman had already organised awareness seminars in the schools on other major topics.

The school's principal, Sushil Kumar, expressed gratitude to the Vardhman and PBCB teams for their efforts.

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04 September 2021, Mumbai:

Telangana Chief Minister K. Chandrashekhar Rao (KCR) has asked Prime Minister Narendra Modi to provide the Warangal Textile Park a one-time grant-in-aid of Rs. 1,000 crore.

The state plans to construct a 2,000-acre textile park. A complete textile value chain facility will be available at the park. The park's infrastructural amenities would require an expenditure of about Rs. 1,600 crore. The Centre has been asked for Rs. 1,000 crore, with the balance coming from the state government's resources.

The Chief Minister was in Delhi for a meeting with Prime Minister Modi. The need has arisen in order to boost the state's textile industry. If the Central Government agrees to the State Government's proposal, the Warangal Textile Park and the state textile sector would benefit greatly.

It's worth noting that Telangana is one of the Indian states where the textile and garment sector is booming. Apart from Indian clothing manufacturing behemoths Kitex Group and Gokaldas Images, who recently announced investments in the state, prominent global player Youngone Corporation will shortly begin operations in the state.

Telangana, India's second-largest cotton producer, produces about 60 lakh bales of long-staple cotton each year. The CM also requested the Prime Minister to approve the projects for the Hyderabad-Nagpur and Warangal-Hyderabad economic corridors.

The state government is concentrating on the state's general growth and has increased the number of districts from ten to 33.

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02 September 2021, Mumbai:

Vasaas, a multi-brand fashion marketplace, has onboarded over 400 Indian clothing and accessory businesses in its first six months, with a gross merchandise value of $300,000 (Rs 2.2 crore). According to Asian News International, 300 of Vasaas' 400 Indian brands are solely available for purchase online through Vasaas.

By the end of the year, the website hopes to have onboarded 1,000 brands. Mannmani, Sumaya by Rashi, Bofreesia, Avalipt, Mallika Arora Label, and Aroop Shop are among the brands now available on the site. The website is divided into sections for men and women, as well as western and traditional clothing.

The platform supports its sellers across the supply chain, including production, product photography, creating product listings, promoting launches, and logistics. Vasaas is also working on establishing WhatsApp-based services for its merchants in order to help them grow by utilizing the popular messaging platform for reaching out to clients, a tendency accelerated by the pandemic.

Vasaas was founded by Divyansh Kapoor and Himanshu Sharma half a year ago with the goal of addressing a problem that many Indian firms face: a lack of a robust promotion and distribution plan. Customers can also use the platform's made-to-order option to customize products from various companies.

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7th September 2021, Mumbai:

Gokaldas Exports, India's largest clothing exporter, has announced the start of commercial production at its new plant in Tumkur, Karnataka. Once completely scaled up and productivity is attained, this unit will add roughly 4.5 percent to the present capacity.

The firm has 19 facilities with a total of about 13,000 machines.

According to a report from ICICI Securities, the firm is now at peak utilization, with a strong order book for the next six months. To meet the high demand, it has set aside Rs. 120 crore in capital expenditures over the next two years, with the potential to produce Rs. 450 crore in additional income.

In accordance with these trends, the firm expects significant revenue growth in FY2021-22, according to the annual report. The firm has a robust order book and is expanding capacity in the short term to fulfill demand and clear production backlogs beginning in the first quarter of FY2021-22.

It's worth noting that the top Indian clothing exporter, located in Bengaluru, is also planning to invest in Madhya Pradesh (MP). In the Bhopal hamlet of Acharpura, the firm will invest in two phases. Around 4,000 people will be employed as a result of the project.

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04 September 2021, Mumbai:

Snapdeal, India's largest e-commerce company, is considering an initial public offering (IPO) that may earn US $ 350-400 million. According to rumours in the media, the retail behemoth, which is funded by SoftBank, is seeking a valuation of US $ 2-2.5 billion.

JM Financial, Axis Bank, and Bank of America have been appointed as the mandate's bankers. Snapdeal, SoftBank, Axis Bank, and JM Financial, on the other hand, have not verified this.

This is a chance for retail investors to become a part of the business's growing narrative in Tier-2, Tier-3, and Tier-4 regions, according to the company. According to sources, Snapdeal is a reinvention narrative that wants to carry the value storey to Indian customers. Snapdeal would join the ranks of other start-ups hoping to join the listing craze if it decides to go forward with the IPO process.

Between April and June 2021, 12 businesses raised a total of Rs. 27,000 crore through IPOs. Snapdeal's apparel items are one of its most popular categories. It has seen a 493 percent increase in sales of children's clothing between January and July 2021.

Snapdeal, which was founded in 2010, has over 60 million goods in 800 categories and delivers to over 6,000 cities and towns across the country.

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1st Sep 2021, Mumbai:

Pioneer Embroideries, a Mumbai-based manufacturer of specialty polyester filament yarn, aims to invest Rs. 58 crores to increase its production to 26,000 tonnes per year by adding 8,000 tonnes.

Internal accruals will account for Rs. 18 crores, while bank borrowings would account for the balance. After Covid, demand for these yarns increased in newer categories such as home textiles and technical textiles, prompting the capacity expansion. 

According to the company's MD, Harsh Vardhan Bassi, rising demand from the home textile category has helped the company improve sales during these challenging COVID-19 times. The objective is to improve operating profits through a bigger percentage of value-added products and operational improvements. The new facility, which will be built on the existing manufacturing site, is slated to open in FY23. At full capacity, the additional capacity has the potential to generate Rs. 110 crore in sales revenue from a mix of domestic and overseas sales. Currently, 95% of the capacity is being used. For non-apparel categories, the company is working on POY-based specialty textile routes such as flame retardant, automotive, anti-microbial, and value-added DTY yarn.

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03 September 2021, Mumbai:

Because the Uttar Pradesh government is putting a lot of effort into promoting Gorakhpur as a garment manufacturing center, it has begun to attract manufacturers from neighboring states.

Ashok Prasad Khajni, a Kolkata-based entrepreneur with garment manufacturing plants in both Kolkata and Odisha, is currently establishing a shirt factory in Gorakhpur. A total of 500 jobs are projected to be created as a result of the facility.

Notably, the business will mostly serve international buyers. According to media sources, the new facility will cover around 2 acres. Though the factory was originally planned to be built on 4 acres, due to rising land prices, the unit will now be built on just 2 acres. One of the major advantages of Gorakhpur, according to Ashok, is its greater connectivity with other Indian states.

It's worth noting that the Gorakhpur Industrial Development Authority (GIDA) is now constructing 101 plots in Readymade Garment Park, ranging in size from 500 square meters to 5,239 square meters. MSMEs will get access to flattened factories as well. Yogi Adityanath, the Chief Minister of Uttar Pradesh, has often stated that Gorakhpur would be developed as a garment manufacturing center.

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1st Sep 2021, Mumbai:

Donear Group, a major textile company, has announced the acquisition of RSWM's global distribution network for Mayur Fabrics and PV Suiting. Donear Group's comprehensive product portfolio and global increased geographical reach will be strengthened as a result of the acquisition.

Financial specifics, on the other hand, have yet to be revealed. Donear Group, which has a significant presence in more than 30 countries, has made its third acquisition in less than three years, bolstering its conglomerate status with a large distribution and retail network. Kenneth Cole, Marks & Spencer, Perry Ellis, Ann Taylor, and H&M are just a few of the world's leading fashion labels that employ Mayur Fabric. 

Furthermore, the PV Suiting distribution network resulting from RSWM's presence in international markets will assist Donear in increasing its proportionate market share. Notably, RSWM's PV Suiting distribution network has made significant progress in the UK and the Middle East, paving the way for Donear Group to establish a major presence in these markets.  “Sabka Saath, Sabka Vikas is not only a motto for us, but it is also a way of life at Donear,” said Rajendra Agarwal, Promoter & MD of Donear Group in a statement. We've set a goal for ourselves of long-term/ growth, and we're working toward it as a team and as a family. Since I began doing business, I've had the opportunity to contact the LNJ family. I, too, am delighted to turn this firm off to Donear Group.” I'm overjoyed with the purchase. 

“It's quite exciting and inspiring for us to focus on our own businesses, which are yarn and fabrics, respectively,” said Rahul Rajendra Agarwal, Director, Donear Group. We are committed to building on the Mayur brand and making it an integral part of the Donear Group, with the goal of taking it to the next level of success.”  “We want to expand from strength to strength with Mayur and PV Suiting on our side, substantiating our vision of rising tall as a textile and apparel worldwide conglomerate,” he added. This highly scalable and long-term infusion will serve as our next major growth engine, allowing us to diversify our portfolio and increase our market share in branded fabrics.” 

“We have a large market share since we have other brands like GRADO and OCM working under our Group,” said Ajay Agarwal, ED, Donear Group. Having Mayur Fabrics and PV Suiting as part of our distribution network would position us as a textile and apparel behemoth, enabling both our clients and retailers.” “It is a matter of pride for us that the Mayur brand is now a part of the Donear Group,” said Riju Jhunjhunwala, Joint MD and CEO of RSWM Ltd. We couldn't have chosen a finer organization to leave our legacy to than Donear. I've seen how Donear has taken over other brands, how he's nurtured and helped other brands succeed in the past.”

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