30th August 2021, Mumbai:

Donear Industries has signed an agreement with RSWM to purchase its current assets, intangible assets including distribution network, ancillary assets and trade receivables of the company’s synthetics fabric business. With three decades expertise in the textile industry, Donear is a reputed and fastt growing fashion fabric brand creating a wide variety of exotic suitings, trouser and shirting fabrics. The brand primarily caters to the middle and the premium segments with high quality apparel fabrics that are woven with natural fibres, synthetic fibers and its various blends.

On the other hand, a leader in the domestic and international textile industry, RSWM’s innovative mindset and visionary approach has blessed the company with associations across the globe. The company constantly execute strategies to produce high-quality yarns while at the same time reduces its carbon footprint. It produces a natural and beautiful array of hues, textures, blends and various other concoctions when it comes to yarn.

TOP 5:

• 'V-Mart Retail' to open 55 stores this year
• 'V2 Retail' reports Rs 11 crore net loss in Q1FY21
• Lakme Fashion Week & PETA India, Indian fashion designers pledge to go leather-free on the World Fashion Day
• 'Shein' becomes the world largest online-only retailer: Euromonitor International
• Shantanu & Nikhil launch 2021 festive couture collection ‘Oasis’

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26th August 2021, Mumbai:

The Union Government is launching the e-SHRAM platform, which will serve as a database for unorganized employees. Workers will be given an e-SHRAM card with a 12-digit unique number as part of the project.

A nationwide toll-free hotline, 14434, will be established to help and answer questions from workers interested in registering on the site. The goal of the effort is to integrate the government's social security programs. State governments and agencies will also be given access to the workers' information.

The webpage would be launched tomorrow, according to Union Minister for Labour and Employment Bhupender Yadav (26 August). It's worth noting that the government wants to register 38 million unorganized employees, including those in the textile and clothing industry, construction, migrant workers, street sellers, and domestic workers, among others. A worker may register by providing his or her Aadhaar card number and bank account information, as well as other required information such as date of birth, hometown, cellphone number, and socioeconomic category. The majority of employees in India's domestic garment manufacturing business are in the unorganized sector, which means they are not eligible for most government benefits.

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21th August 2021, Mumbai:

The government said on Friday that it has formed an eight-member committee to formulate a plan for tripling handloom output and quadrupling exports in next three years. Sunil Sethi, Chairman of the Fashion Design Council of India (FDCI), will lead the group, which will give its final report in 45 days.

The committee's mandate includes developing a strategy and policy framework for increasing output and enhancing the quality of handloom products, according to a statement from the textiles ministry. The panel would also recommend strategies for handloom weaver agencies to collaborate with designers, buyers, institutions, organizations, and exporters, as well as steps to double exports.

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It would also recommend strategies to improve product marketing and input supplies (raw materials, credit, technological upgrades, skilling, and designs), according to the report. "The committee shall provide its preliminary recommendations within 30 days of its formation, and its final report within 45 days," it said. Handloom output must be quadrupled from its current level of about Rs 60,000 crore in three years, and exports must increase from Rs 2,500 crore to Rs 10,000 crore, according to Textiles Minister Piyush Goyal. 

TOP 5:

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• Flipkart, an Indian e-commerce behemoth, has created 4,000 new positions
• Rs. 1,100 crore investment! SVP Global Ventures, an Indian textile company, has opened a facility in Oman
• In the current fiscal year, Indian textile exporters are expected to expand by 20-25 percent, according to ICRA
• In July, apparel sales in India were at 63 percent of pre-pandemic levels

21st August 2021, Mumbai:

The apparel industry is pleased with Minister of Commerce, Industry, and Textiles Piyush Goyal's announcement that there is "very positive momentum" in terms of FTAs with the United Kingdom, the European Union, Australia, Canada, the United Arab Emirates, Israel, and the Gulf Cooperation Council countries.

“We are delighted to hear that negotiations on FTAs with several countries are proceeding quickly,” said Dr. A. Sakthivel, Chairman of the Apparel Export Promotion Council (AEPC). We've been pleading with the government to expedite trade agreements.

In several areas, FTAs would eliminate tariff disadvantages for Indian clothing. Early Harvest Agreements with the United Kingdom and Australia may help India increase its clothing exports to these countries in the next three years.”

He stated that the government is making serious efforts to reach the objective of $400 billion in merchandise exports for the current fiscal year, with both the Prime Minister and the Commerce Minister taking the lead in having rapid meetings with Export Promotion Councils (EPCs).

“With the proactive leadership given by the present Government, we will not only meet the ambitious objective of US $ 400 billion this year, but we will also achieve the 2030 export target of US $ 2 trillion, with equal contributions from product and services exports,” he added.

Dr. A.Sakthivel also discussed the Interest Equalisation Scheme (IES), raw material export difficulties, the prolongation of the export requirement period till March 31, 2022, freight support, RoDTEP issues, FTAs, and banking challenges that garment exporters encounter.

TOP 5:

• Cotton Corporation of India Ltd (CCI) market intervention meaningless till cotton prices rule firm
• Flipkart, an Indian e-commerce behemoth, has created 4,000 new positions
• Rs. 1,100 crore investment! SVP Global Ventures, an Indian textile company, has opened a facility in Oman
• In the current fiscal year, Indian textile exporters are expected to expand by 20-25 percent, according to ICRA
• In July, apparel sales in India were at 63 percent of pre-pandemic levels

27th August 2021, Mumbai:

On September 14, 2021, Groz-Beckert will provide a webinar for the global clothing and textile sector on "The Importance of the Sewing Machine Needle When Processing Garments.

" The webinar will focus on how the sewing machine needle affects the quality of the stitched product, as needle-driven concerns in the garment manufacturing business have been a long-standing challenge for the industry. 

Groz-Beckert, a major German firm that provides industrial machine needles, precision parts and fine tools, as well as systems and services for the manufacture and joining of textile fabrics, will discuss common sewing difficulties and solutions. “We will also show distinct unique application needles that have been specifically developed for textile processing,” Groz-Beckert explained. The webinar will be held in both English and German, and attendees will have the opportunity to ask questions in the chat section.

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24th August 2021, Mumbai:

As the state prepares to reopen next month, the Tamil Nadu government has allowed stores and businesses in Coimbatore to stay open until 10 p.m.

Tamil Nadu is lifting its retail restrictions after months of lockdown due to high rates of coronavirus infections and fatalities, a decision that will be welcomed by shops and companies. The state administration in Coimbatore has declared that, in addition to increasing ordinary business hours, theatres and movie halls would be allowed to reopen at 50% occupancy on August 27 after being closed for over four months, according to the Press Trust of India.

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The government has created 24-hour immunization centers at medical institutions and government hospitals in anticipation of looser retail restrictions and to reduce Covid-19 instances. According to the Times of India, the government stated on Monday that these centers, which are available at all hours of the day and night, are intended to boost the state's poor immunization rate. For the 11th day in a row, Covid-19 instances have been reported in Tamil Nadu. With nearly 34,700 deaths, the state has been one of the worst-hit by the epidemic in India.

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TOP 5:

• India's clothing exports increased to $7.48 billion in the first half of this year, thanks to a massive recovery in major destinations
• The ‘ABOF' of Indian clothing behemoth Aditya Birla Fashion and Retail is linked to e-commerce platforms
• Arvind Fashions receives Rs 439 crore from promoters and investors
• Tirupur's clothing industry is concerned about container scarcity and lockdowns
• The government has formed a council to recommend measures to increase handloom production and exports

21st August 2021, Mumbai:

Piyush Goyal, Minister of Textiles, Commerce, and Industry, met with the Export Promotion Councils (EPCs). The conference was called to get feedback on the sectors' export performance as well as to get comments on a variety of topics.

This meeting was attended by the chairmen and heads of about 35 EPCs, commodity boards, and senior government officials. The problem of rate enhancements under the Remission of Duties and Taxes on Exported Products (RoDTEP) program was highlighted by Raj Kumar Malhotra, Chairman of EPCH.

They asked the Minister to intervene because handicrafts exporters, who previously received higher MEIS rates, now factor in the MEIS incentive in their pricing, and low RoDTEP rates will make their products uncompetitive. He emphasized the need of increasing RoDTEP rates for the handicrafts industry, citing the fact that the handicrafts sector employs 7 million craftsmen, and every rise or drop in exports has an impact on their livelihood.

He also brought up issues such as the reinstatement of duty-free imports of essential handicraft embellishments, trimmings, tools, and consumables; the reinstatement of MAI provisions for the opening of showrooms, warehouses, and marketing offices abroad, as well as display in international department stores; high container charges levied by shipping lines; and policy framework for B2B e-commerce, among others.

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TOP 5:

• Cotton Corporation of India Ltd (CCI) market intervention meaningless till cotton prices rule firm
• Flipkart, an Indian e-commerce behemoth, has created 4,000 new positions
• Rs. 1,100 crore investment! SVP Global Ventures, an Indian textile company, has opened a facility in Oman
• In the current fiscal year, Indian textile exporters are expected to expand by 20-25 percent, according to ICRA
• In July, apparel sales in India were at 63 percent of pre-pandemic levels

23rd August 2021, Mumbai:

Despite a drop in domestic sales as a result of the second wave, the export market has provided a much-needed boost to denim fabric sales. Denim sales and production at Gujarat mills have increased as a result of continuous export demand.

Gujarat is justifiably known as the denim capital of the country since it houses around 60% of the country's total denim production capacity. "Demand from the foreign market, which includes nations such as the United States and Europe, has substantially improved, and orders have begun to stream in. Export orders, in fact, were a lifeline for denim manufacturers, as they helped compensate for a drop in domestic demand from April to June 2021, when the second wave of Covid-19 was at its peak and a slew of restrictions were imposed to keep the spread in check "Jindal Worldwide Limited's head of corporate finance and strategy, Gaurav Davida, stated.

Despite the fact that denim producers saw strong growth in the first quarter, owing to a low base from the previous fiscal year's same quarter, the output is gradually returning to pre-Covid levels. "Manufacturers are also seeing higher price realizations, which is helping to offset margin losses. This is due to a rise in demand, with merchants in major regions such as Europe, the United Kingdom, and the United States reporting a double-digit increase in both offline and online sales "a source in the sector stated. Clearly, major denim fabric manufacturers saw a significant increase in revenue in the first quarter of 2021-22.

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Arvind Limited, for example, recorded a 186 percent rise in denim revenues in the first quarter, going from Rs 145 crore in the first quarter of 2020-21 to Rs 416 crore in the first quarter of 2021-22. Overall volumes increased 2.8-fold year over year, according to the company's investor presentation. "We achieved at least 80% of our pre-Covid level of revenues from denim sales in the April to June quarter of 2021-22," Davda continued, "thanks to the higher realization from exports, we registered a revenue of at least Rs 500 crore during this time." Manufacturers all around the globe have been searching for alternatives to China since the Covid-19 epidemic. 

Gujarat, as a denim manufacturing center, stands to benefit, according to denim manufacturers. According to P R Roy, a denim expert, "Given its huge manufacturing capacity, China is a major participant. However, following the recent US and European sanctions on China's Xijiang province - a textile manufacturing powerhouse – based on reports of human rights violations, companies have moved their focus to India, and specifically Gujarat, for denim sourcing." As a result, Gujarati denim manufacturers have begun to receive more export orders.

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• Shree to foray into the ready-to-stitch category, plans more retail expansion
• Gujarat's textile industry anticipates more exports

19th August 2021, Mumbai:

Textile exporters predict an increase in order volumes as a result of the revised rates announced by the Centre under the Rebate on Duties and Taxes on Export Products (RoDTEP) program. According to the revised rates, RoDTEP offers a 2.5 percent to 4.5 percent incentive on the export of various types of yarn and textiles.

Despite the fact that procurement price limitations have been set in order to qualify for the benefit, textile exporters claim the refund will significantly boost their cost competitiveness.

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“One of the biggest problems Indian exporters confront is price competition from textile manufacturers in Vietnam and Bangladesh. Both of these nations have FTAs with European and other markets, providing them a significant advantage over Indian manufacturing. This is especially true for garments and made-ups, where the government's withdrawal of the Merchandise Export Incentive Scheme (MEIS) made it impossible for Indian textile manufacturers to remain cost-competitive, according to Chintan Thaker, head of Assocham – Gujarat state council.

TOP 5:

• Cotton Corporation of India Ltd (CCI) market intervention meaningless till cotton prices rule firm
• Flipkart, an Indian e-commerce behemoth, has created 4,000 new positions
• Rs. 1,100 crore investment! SVP Global Ventures, an Indian textile company, has opened a facility in Oman
• In the current fiscal year, Indian textile exporters are expected to expand by 20-25 percent, according to ICRA
• In July, apparel sales in India were at 63 percent of pre-pandemic levels