Page 6 - Textile Industry

Surat textile industry still under subdued capacity utilisation

While it may have played a crucial role in helping the ruling Bharatiya Janata Party (BJP) win in the recently concluded state assembly elections in Gujarat, the Surat-based textile industry is still reeling under the Goods and Services Tax (GST) impact. According to industry sources, especially in weaving and trading, capacity utilisation at most of the powerloom and trading units is still down by 50 per cent or lesser. While the spinning units are still finding takers in the knitting industry which is doing better currently due to winter season, the latter verticals in the textile chain such as weaving and trading are still finding business unsustainable, especially among smaller players.As against a 40 million metres per day of production in the Rs 500 billion synthetic textile hub of Surat, the current production is down to 2.5 million metres per day. Similarly in the weaving sector, as against a Rs 600 million daily turnover in the pre-GST era, the same is still down by 50 per ..

Surat's textile sector faces cost-push crisis as key input prices surge

Polyester yarn prices increased 6-8 per cent in the past one month and 12-15 per cent in past 3 months

Orders dry up for Surat's textile industry ahead of festive season

Slowdown, long-pending input tax credit refunds hit the city hard

Textile can become a $300-bn industry by 2030, create 35 mn more jobs: CII

Synthetic fabrics and performance garments are going to be the two most promising segments: CII Tamil Nadu State Council Vice Chairman Hari Thiagarajan

Home textile exporters' body writes to PM, seeks release of pending rebate

"As the matter is still under consideration of the PM Office and we are hopeful that we will get a positive response at the earliest," HEWA Director Anant Srivastava told PTI

Govt likely to extend two-year debt moratorium for struggling textile units

People in the know said the Union Ministry of Textiles, under the leadership of Smriti Irani, has made a recommendation to the Ministry of Finance

A champion for the rag trade

Shahi Exports MD, Harish Ahuja tells Business Standard the government needs a free trade agreement with Europe fast to ensure a level-playing field with Bangladesh and Vietnam

Textile industry hopeful for a cut in GST rate on synthetic fiber

In a meeting held recently with the Union Finance Minister Nirmala Sitharaman, the textile industry had urged for a uniform GST rate for the entire sector

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

Rising import from Bangladesh, financial crisis at NBFC hit textile sector

The industry says sales in the domestic market have slumped by 20-25 per cent in recent weeks

Industry 4.0: How textile firms are using tech to become smart, sustainable

Indian textile industry is waking up to the possibilities of using Industry 4.0 concepts

Manmade textile industry on a cusp of turnaround with a revival in demand

Stabilising crude oil prices help companies fix their product prices for long term contracts

Centre to look into textile industry's concerns on embedded duties: Irani

She made the remarks at the Textile Conclave organised by Assocham in Gandhinagar on Sunday, a release said

In a first, Centre to roll out India-centric size in apparels: Smriti Irani

Work on ROSL relief underway for industry, says textile minister

Migrants' exodus from Gujarat to reduce India's textile output by 10-15%

80% of the country's synthetic textile output comes from Gujarat, which is seeing migrant labour move out to escape the violence following rape of a minor, and better opportunities back home

Amended TUFS delivers huge benefits across entire textile value chain

New scheme allows cooperative banks to lend to units for tech upgrade, LLP firms can also benefit; synthetic textiles to get a leg up

With Tirupur in throes of decline, manufacturers eye Ethiopia for revival

A key attraction Ethiopia offers is duty-free exports to the US and Europe, unlike India

Home textile exporters may take profit hit

Several traditional retailers in the US have pruned inventories and downsized stores to offset profit pressure caused by the e-retail boom

Textile industry faces crunch as rebate scheme backlog hits Rs 16 billion

Industry body writes to the govt for immediate action to clear the dues, failing which hundreds of units would close down and lead to thousands of job losses in the country

India's textile industry size to touch $250 bn in 2 years: Official

In the last 2 years, a lot of buoyancy has been created in textile sector: Textile Commissioner