Indian Textiles

Textile maker Arvind Ltd profit declines 11.62% to Rs 87 cr in Oct-Dec

Textile manufacturer Arvind Ltd on Wednesday reported an 11.62 per cent decline in consolidated net profit from continuing operations to Rs 87 crore in the third quarter ended December 31, 2022. The company had posted a consolidated net profit from continuing operations of Rs 98.44 crore in the same period last fiscal, Arvind Ltd said in a regulatory filing. Revenue from operations during the quarter under review were at Rs 1,979.79 crore as against Rs 2,270.07 crore in the year-ago period, it added. Total expenses were lower at Rs 1,899.7 crore as compared to Rs 2,134.54 crore in the same period last fiscal, the company said. In July 2022, Arvind Ltd said the parent company sold its 100 per cent stake of wholly owned subsidiary, Arvind Internet Ltd to Bigfoot Retail Solutions Pvt Ltd for a consideration of Rs 159 crore and accordingly, the group has considered its wholly owned subsidiary Arvind Internet Ltd as discontinued operations. Overall textile revenues were lower as volume

Karnataka CM Bommai instructs to start mini textile parks in 25 taluks

'I have close links with weavers individually and saw their problems from the closeness. The weavers must focus on the quality of products and come forward for exports'

PLI scheme for textiles attracts Rs 1,536 crore in investments: Govt

The Rs 10,683-crore production-linked incentive scheme for India's textiles sector attracted investments of Rs 1,536 crore as approval letters were issued to 56 applicants who met the eligibility criteria, the government said on Monday. Applications under the PLI Scheme for textiles were received through a web portal from January 1, 2022, to February 28, 2022. The Centre launched the PLI Scheme with an approved outlay of Rs 10,683 crore to promote the production of MMF apparel, MMF fabrics and Products of Technical Textiles in the country to enable the textiles industry to achieve size and scale and to become competitive. "Selection Committee chaired by Secretary (Textiles) has selected 64 applicants under the scheme. 56 applicants have completed the mandatory criteria for the formation of a new company and approval letters have been issued to them. Investment to the tune of Rs 1,536 crore has been made so far," an official statement said. The ministry said that domestic cotton ...

Domestic textile industry faces tough times as consumers cut spending

While overall economy is relatively strong, the textile sector is a notable exception and orders suggest the downturn will continue well into 2023, raising the risk of layoffs in an industry

Quality control order to control inferior silk import on the cards

The minister's comments were in response to a question of poor quality silk coming into the country from China

Bangladesh, Vietnam seen as competitors in textile and garment trade

With a share of about 13 per cent, UP is one of the top three domestic textile players. Bangladesh, Vietnam, and Indonesia are the leading textile exporters in the Asia region.

Diwali an auspicious date to sign India-UK FTA: British High Commissioner

Currently, both countries are at the last leg of negotiations towards a trade deal that kick-started in January

India at 75: Here's how much our per capita income has zoomed since 1950

Since 1950, India's per capita income (PCI) has jumped over 500 times. In 1950, it stood at Rs 265, and increased to Rs 1,28,829 in 2020-21

Uttar Pradesh govt seeks to take embassies' help to boost exports

Among the top-selling UP products are leather goods, carpets, hand woven textiles, brassware, glassware, sports goods, etc

Gujarat's ceramic tiles hub to take month-long break after production glut

'Leave' in August could be annual feature and will follow Chinese industry taking a break every February

Surat's textile hub consolidated as small players failed to survive GST

This ground report from the diamond city captures the travails of small-scale units

Textile exporters bat for fine tuning of RoSCTL scheme to retain edge

The discount on tradeable scrips has gone up from 3% to about 20%, benefitting importers who are taking undue advantage at the cost of exporters, says industry

Govt approves 61 proposals of over Rs 19k cr under PLI scheme for textiles

Textile Secretary U P Singh said that a total of 67 proposals were received under the PLI scheme for the textiles sector

'India's textiles exports can touch $100 bn from current $40 bn in 5 years'

Textiles Secretary Upendra Prasad Singh said the country's apparel industry must focus on vertical integration to increase its scale and size to benefit from the production-linked incentive scheme

Cabinet approves Rs 10,683-cr PLI scheme for textiles: Goyal

The cabinet has approved the PLI scheme for textiles for MMF (man-made fibre) apparel, MMF fabrics and ten segments/products of technical textiles

Garware Technical Fibres Q1 profit after tax up 80.6% at Rs 31.9 crore

Technical textiles manufacturer Garware Technical Fibres, formerly Garware-Wall Ropes, on Thursday posted an 80.6 per cent growth in profit after tax at Rs 31.9 crore during the quarter

Textiles, realty on revival path as business limps back to pre-Covid levels

Recovery will be across segments, including cotton yarn, readymade garments, polyester yarn, and home textiles, driven by higher domestic and export demand

Companies pitch 'coronavirus-proof' clothes, as doctors seek evidence

Textile firms get international partners for fabric technology, stitch up clothing line for the pandemic

New MSME definition to benefit downstream textiles, boost exports: experts

Several exporters can now be classified as MSMEs and avail 5% rebate under interest equalisation scheme

The fabric of trade

Indian cottons were prized for their fineness of weave, brilliance of colour, rich variety of designs and a dyeing technology that achieved a fastness of colour unrivalled in the world