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    News & Update

    Ahmedabad textile industry embraces sustainability at Lenzing Conclave



    Admin
    Dec 27, 2023

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     The Lenzing Group, world leading provider of wood-based specialty fibers, hosted the 'The Lenzing Conclave' in Ahmedabad. Renowned as a significant textile base with some of the leading fabric mills and traders, Ahmedabad has been a stronghold for Lenzing fibers, extensively utilized across various applications for several years now.

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    The conclave served as a pivotal platform for industry stakeholders in Ahmedabad to convene and exchange ideas on new developments and future opportunities with sustainable textiles, showcasing Lenzing's enduring commitment to innovation & responsible manufacturing. Guests engaged with Lenzing's commercial and technical teams to explore the latest industry innovations under TENCEL and LENZING ECOVERO fiber brands, including the recently launched LENZING ECOVERO black fibers. There was a good focus on developing products which are a blend of TENCEL fibers and cotton, suitable for Indian domestic consumption.

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    Ahmedabad's fabric mills and traders, long-standing consumers of Lenzing fibers, have played a vital role in shaping end fabrics with applications spanning fashion, denim, home textiles, and intimate wear products. These fabrics, made from Lenzing fibers, have gained prominence in both export markets and domestic retail. The conclave delved into global fiber and material consumption trends, providing insights into the anticipated changes in the immediate future. Attendees gained valuable perspectives on the evolving landscape of the textile industry and the role sustainable practices play in shaping its future.

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    The exhibition at the conclave featured an extensive display of Lenzing's latest innovations across major segments, including denim, home linens, intimate & loungewear, general outerwear, and traditional wear. This hands-on experience allowed participants to explore the versatility and quality of Lenzing fibers, reinforcing their position as industry leaders.

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    Talking about the event, Avinash Mane – senior commercial director of AMEA & NEA region, Textiles Business, Lenzing Group, said, “The Lenzing Conclave in Ahmedabad has been a great success, bringing together our key partners from mills and fabric trading in this vital textile hub. It was good to see an increasing number of new partners joining us to collaborate on new innovations. Our commitment to value driven sustainability and innovation is reflected in the showcased products and discussions on global trends. We are proud to be a trusted partner for Ahmedabad's textile industry, contributing to the creation of high-quality, sustainable fabrics for both local and global markets."

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    Discalimer: this information has been collected through secondary research and posted by third party therefor textilemarket. In is not responsible for any errors in the same. 

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    News & Update

    Indian ministry of textiles: Year end review 2023



    Admin
    Dec 27, 2023

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    PM MITRA <br/>

     

    The government has launched PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks Scheme to develop world class infrastructure including plug and play facility with an outlay of ₹4,445 crore for a period up to 2027-28. PM MITRA Parks Scheme are inspired by the 5F vision of Prime Minister—Farm to Fibre to Factory to Fashion to Foreign. Nearly ₹70,000 crore investment and 20 lakhs employment generation is envisaged. Parks will offer an opportunity to create an integrated textiles value chain right from spinning, weaving, processing/dyeing and printing to garment manufacturing at a single location. World-class industrial infrastructure would attract cutting edge technology and boost FDI and local investment in the sector. Centre and states to form SPVs for setting up PM MITRA Parks. These parks will be developed in PPP mode.

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    National Technical Textile Mission (NTTM) <br/>

    The government has launched a National Technical Textiles Mission (NTTM) with an outlay of ₹1,480 crore. The key pillars of NTTM include ‘Research Innovation & Development’, ‘Promotion and Market Development’, ‘Education, Training and Skilling’ and ‘Export Promotion’. The focus of the Mission is for developing usage of technical textiles in various flagship missions, programmes of the country including strategic sectors. The mission got its extension until March 31, 2026, with a subsequent sunset clause applicable until March 31, 2028. Achievement as on date is 126 projects of value ₹371 crore have been approved in the category of Specialty fibres and technical textiles. Guidelines to support indigenous development of high-end machinery, equipment, tools and testing equipment for technical textiles in India and establish indigenous platform for domestic design, development and manufacturing has been launched. Guidelines to support startups and young scientists in the application areas of technical textiles have been approved in Empowered Programme Committee (EPC).

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    Amended Technology Upgradation Fund Scheme (ATUFS)  <br/>

    Under ATUFS, ratio of MSME: Non MSME is 89:11, while under previous versions of TUFS it was 30:70. Higher incentives of 15 per cent (₹30 crore) for entities for employment potential segments viz. technical textiles and garment/made ups. Employment support to more than 17 lakhs (3.9 lakh new and 13.4 lakhs existing) over seven years. Out of total 3.9 lakhs new employment generated, 1.12 lakh (29 pr cent) are women.

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    Discalimer: this information has been collected through secondary research and posted by third party therefor textilemarket. In is not responsible for any errors in the same. '   

     

     

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    News & Update

    India's ColorJet to display advanced digital textile printers at SITEX



    Admin
    Dec 27, 2023

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     ColorJet, India’s leading futuristic textile printing solutions providing company, has announced its participation in the Surat International Textile Expo (SITEX) from January 6-8, 2024, at the Surat International Exhibition and Convention Centre, Surat. ColorJet will unveil its innovative textile printers, VastraJet K2 and SubliXpress Plus during this textile expo.

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    Surat, renowned as the hub of the textile industry, holds significant importance for the company. ColorJet has installed over 100 digital textile-printing machines in the city. This achievement is not just a number it's a trust and confidence of their customers have bestowed upon them over the years.

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    Speaking about this achievement and the importance of Surat in India’s textile geography, Arun Varshney, Vice President and Business Head, ColorJet Group, said, “As Surat's Preferred Choice, ColorJet takes pride in having successfully installed more than 100 textile printing machines in the city. We express sincere gratitude to all our customers for their trust. We are a customer-centric brand, and this achievement underscores ColorJet's unwavering commitment to innovation and customer satisfaction.”

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    He further added, “Surat is one of the oldest and most promising markets in India for the world. Their understanding of textiles is at par with global standards. Perhaps, it is one of the reasons ColorJet is the preferred brand over others. With our presence at SITEX, we are going to further strengthen this bond with the city and showcase the future of digital textile printing to the visitors.”

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    ColorJet sees SITEX Surat as an opportunity for industry professionals and enthusiasts to witness their advanced VastraJet K2, High Speed, High Quality direct to fabric printer and High-speed sublimation printer SubliXpress Plus in action. The expo will be an immersive experience, allowing visitors to explore the advance features and capabilities of these advanced textile printers.

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    Discalimer: this information has been collected through secondary research and posted by third party therefor textilemarket. In is not responsible for any errors in the same. 

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    News & Update

    Reconsider GST hike on textile and apparel, industry body to government



    Admin
    Dec 26, 2023

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    New Delhi: Industry body Retailers’ Association of India (RAI) has urged the finance minister to reconsider the GST Council’s recent decision to increase taxes on several textile and apparel items from 5% to 12% effective January 2022.

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    A 7% hike has been proposed to address the issue of inverted duty structure in the textile industry faced by a small segment of the total textile value chain. However, such a steep increase in the GST rate will adversely impact 85% of the industry while trying to ease the problem faced by less than 15% of the industry, RAI said in its note.

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    The industry body said the pandemic has already dealt a body blow to the apparel industry as prolonged lockdowns and weak consumer demand led to a decline in sales of clothing.

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    “On the business side, it will add to the financial burden of an already-stressed sector, slow down its pace of recovery and affect working capital requirements especially in the case of MSME businesses which account for 90% of the industry. On the consumer side, it will lead to a rise in the prices of garments, thereby hurting consumption. On the government side, in the long run, it may lead to many unorganised businesses going out of the GST net," he added.

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    Discalimer: this information has been collected through secondary research and posted by third party therefor textilemarket. In is not responsible for any errors in the same. 

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    News & Update

    GST hike on textiles: The issue, industry pain and government's rationale



    Admin
    Dec 26, 2023

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     At a time when sections of the textile industry were demanding correction of inverted duty structure to ease cash flow, the recent notification issued by the Central Board of Indirect Taxes and Customs (CBIC) has not augured well with the industry.

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    The GST on Man-Made Fiber (MMF), MMF yarn, and MMF fabrics were taxed at 18 percent, 12 percent, and 5 percent under GST respectively. The taxation of inputs at higher rates than finished products created credit build-up and cost escalation. It further led to the accumulation of taxes at various stages of the MMF value chain and the blockage of crucial working capital for the industry.
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    GST Council in its last meeting took a decision to correct the inverted tax structure and come up with a notification No. 14/2021 dated 18.11.201 raising tax from 5 percent to 12 percent for several textile and apparel items from January 2022.
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    Discalimer: this information has been collected through secondary research and posted by third party therefor textilemarket. In is not responsible for any errors in the same. '   
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    News & Update

    Textile mills struggle as cotton price hits 11-year high



    Admin
    Dec 26, 2023

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     Cotton prices have gained nearly 40 percent in 2022 and are at an 11-year high on the back of a demand-supply mismatch. This is hurting cotton yarn spinners and cotton-based textile and garments manufacturers, forcing many to cut down on operations across the country.

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    While spinning mills are partially operational, few fabric manufacturers have decided to hit a stop button to their production at least for a few days.
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    Industry watchers estimate that the average consumption of cotton per month has also reduced from around 29 lakh bales to 19 lakh bales per month in India. What is further worrying is the fact that the arrival of cotton is slow during this season 2021-22.
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