Textile Companies

Gokaldas Exports dips 4% after 13% equity changes hands via block deal

Till 09:23 AM, roughly 8.15 million equity shares, representing 13.5 per cent of the total equity of Gokaldas Exports, had changed hands on the NSE

Govt may bring 151 technical textile items under quality control order

The government is considering the inclusion of 151 technical textile items under the Quality Control Order, a move expected to curb substandard imports, an official said on Friday. The move assumes significance as India has heavy import dependence on machinery and specialty fibre for technical textiles. To deliberate upon the issue, stakeholder consultations will be held on February 28, Joint Secretary in the Ministry of Textiles Rajeev Saxena said, adding that "151 items now we are considering to bring under quality control order". However, he did not specify these identified items. Technical Textiles can be described as textile materials and products used primarily for their technical performance and functional properties rather than their aesthetics or decorative characteristics. They can be classified into industrial, functional, performance, engineering, invisible and hi-tech categories. Of USD 260 billion market size globally, India's technical textiles contribution was USD

Over 30 countries expected to participate in Technotex 2023: Government

More than 250 buyers from over 30 countries, including Taiwan, Germany, Switzerland, Guinea (South Africa), South Korea, Russia, and Luxembourg, are expected to participate in technical textiles show 'Technotex 2023', the government said on Friday. The show, to be held from February 22-24 in Mumbai, will be based on the theme 'Envisioning Indian Technical Textiles@ 2047'. "We are expecting more than 250 buyers from more than 30 countries," Rajeev Saxena, Joint Secretary in the Textiles Ministry told reporters here. He said that the three-day event will feature B2B (business-to-business) meetings, conferences and seminars along with a CEO Forum to be chaired by Textiles Minister Piyush Goyal on February 24. Saxena said that some agreements are expected to be signed for making technical textiles in India. "Participation is studded with dignitaries from various countries and state governments. Maharashtra is the host state for the event and Karnataka, Tamil Nadu, West Bengal, and Mad

IIT-R develops air nano bubble tech to reduce water usage in textile sector

The Indian Institute of Technology, Ropar on Saturday said it has developed an innovative green technology -- air nano bubble -- that can reduce the usage of water in the textile sector by up to 90 per cent. Textile is one of the most water-intensive industries and there is an escalating need to address the problem of managing water usage in the textile industry associated with contamination of water. At IIT Ropar, we are inventing and incorporating new-age processing methods to conserve water for our future generations, Rajeev Ahuja, Director, IIT Ropar said in a statement here. Neelkanth Nirmalkar, who has developed this technology, said as per rough estimate, 200-250 litres of water is required to process one kg of cotton fabric. The laboratory reports suggest that the air nano bubble dispersed in water can reduce the water consumption and chemical dosage by 90-95 per cent which ultimately saves 90 per cent of the energy consumption as well, Nirmalkar claimed. In the textile ...

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

Century Textiles reports 78% jump in net income at Rs 63 crore in Q1

The company, which is primarily into textiles, pulp and paper products and realty, said its sales grew to Rs 1,170 crore, a growth of 41 per cent compared to the year-ago period.

Raymond appoints Coca-Cola veteran Atul Singh to lead the Group

Singh has worked at Coca-Cola for about two decades at several senior leadership positions and concluded his journey there as chairman, Asia Pacific and spearheaded its businesses across 25 countries

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

CBI books textile major S Kumars in Rs 1,245 crore loan fraud case

The CBI has booked textiles major S Kumars Nationwide Limited (SKNL) and 14 others including its promoters and directors for an alleged bank fraud worth Rs 1,245 crore, officials said Wednesday. Following registration of the FIR, the central agency on Wednesday searched 13 locations in Maharashtra, Gujarat and West Bengal linked to the accused and recovered "incriminating documents", CBI Spokesperson RC Joshi said. He said the company was engaged in the business of manufacturing high-value fine cotton fabrics and home textiles. The company had availed credit from a consortium of banks led by IDBI bank. Joshi said promoters/directors of the company were booked for allegedly "misusing/diverting the bank funds during the period 2012 to 2018" which resulted in loss of about Rs 1,245.15 crore to the banks. "The complaint was filed by the IDBI Bank Ltd. and also on behalf of four other member banks of the consortium, namely, Central Bank of India, The Jammu & Kashmir Bank Ltd., Punjab .

Steel, auto, textile companies at heart of PLI scheme job target

The government's ambitious target of generating over 6 million jobs in five years from PLI scheme will hinge on five of the 14 specified sectors reaching the magic numbers

Textile PLI scheme: 35 companies line up Rs 10,000-crore investment

The textile sector is worried about the stringent parameters, including the Rs 600-crore turnover and targets of additional incremental turnover of 25 per cent over the preceding year

KPR Mills, Raymond, Arvind: PLI scheme may trigger rally up to 23%

The shares of textile sector have witnessed renewed buying interest by market participants after the Union Cabinet approved the production-linked incentive (PLI) scheme on Wednesday.

Gokaldas Exports extends gains on commencement of operation at new unit

The company said it has a strong order book and is in the process of augmenting its capacity over the near term, to meet demand and clear Q1FY22 production backlog

Immense scope to create multiple textile hubs in Bihar: Industries minister

Bihar's Minister of Industries Syed Shahnawaz Hussain said there is an immense scope to create multiple textile hubs across the state.

Textile trading comes to a standstill in Surat amid second Covid-19 wave

The second wave of the pandemic has hit the medium- and small-scale sector like a tsunami. The first of a five-part series looks at the crisis

Welspun India spurts 10% on rating upgrades by India Ratings

The upgrade reflects WIL's better-than-Ind-Ra-expected balance sheet deleveraging through a strong operational performance

Garment sector hopeful of achieving growth in 2021, says industry body

The textile and apparel sector is confident of achieving the much needed growth in 2021

Low-value focus a loose fit for India's textiles and clothing sector

The fourth in a five-part series analyses factors derailing the country's apparel industry

Covid-19: Synthetic textile companies seek financial package to pay wages

The demand comes in the wake of closure of factories, wholesale and retail outlets due to the nationwide lockdown announced by the government on March 25

K Radharaman of the House of Angadi is reinventing the weave

How K Radharaman, founder of Bengaluru's House of Angadi, is helping to shape the course of India's textile history