Garments / Textiles
Welspun Enterprises board re-appoints Balkrishan Goenka as chairman; Sandeep Garg as MD
Welspun Enterprises' board has approved the reappointment of Balkrishan Goenka as Chairman (Executive) and Sandeep Garg as Managing Director. Goenka's term is extended for one year, effective June 1, 2025, not subject to retirement by rotation. Garg's reappointment is also for a year, effective the same date, but subject to retirement by rotation, pending shareholder approval at the upcoming AGM.
Linen love: Why this wrinkle-prone fabric is the new fashion favourite
Linen is gaining popularity among younger consumers and designers in India. Designers like Anavila Misra and Priya Mittal are innovating with linen saris and other garments. Linen is now seen in both high fashion and affordable brands. Retailer Raymond's reports increased linen fabric sales. Experts advise on caring for linen to prolong its life.
SBC Exports plans to launch IPO of travel arm Mauji Trip in 2025-26
SBC Exports will launch an IPO for its travel subsidiary, Mauji Trip, in FY2025-26. The board has approved this plan to boost shareholder value and fund Mauji Trip's growth. SBC Exports reported strong revenue and profit growth for FY25. They have also partnered with Amazon India to sell apparel.
Vishal Fabrics profit rises 13% in FY25 despite 'industry headwinds'
Vishal Fabrics reported a 13% increase in profit, reaching Rs 28.84 crore in FY25, overcoming global challenges. The Chiripal Group company's total income also rose by 5% to Rs 1,521.43 crore. The company's CFO, Dharmesh Dattani, attributed this growth to a focus on efficiency, quality, and customer satisfaction, while strengthening its market presence through sustainable manufacturing and digital transformation.
Port curbs on Bangladesh imports may create Rs 1,000 crore biz for textiles
India bans garment imports from Bangladesh via land routes. This decision aims to boost local textile manufacturing. The move could generate over ₹1,000 crore for Indian businesses. Some branded garments might face supply issues, potentially raising prices slightly. The industry anticipates reduced backdoor entry of Chinese fabrics. Supply chains will likely experience short-term disruptions.
GBCI, apparel exporters' body sign pact for sustainable manufacturing
Apparel Export Promotion Council partners with Green Business Certification Institute. The goal is to boost sustainable garment production in India. This collaboration aims to increase LEED-certified garment factories. Focus is on energy efficiency and resource conservation. Sudhir Sekhri highlights the industry's commitment to sustainability. Mithileshwar Thakur notes India lags behind Bangladesh in LEED certifications.
Garment import restrictions from Bangladesh to benefit Indian cos: Industry
India has restricted readymade garment imports from Bangladesh to seaports only, impacting supply chains and potentially increasing costs by 15-25%. This move, a response to similar actions by Dhaka, aims to boost domestic textile manufacturing and reduce reliance on imports. Indian manufacturers anticipate a shift towards local sourcing, potentially replacing a significant portion of imports with domestic production.
Garment import curbs likely to make Bangladesh exports to India costlier: Textile industry
India's decision to restrict ready-made garment imports from Bangladesh to Kolkata and Nhava Sheva ports is anticipated to raise import costs. Textile industry bodies view this as a strategic move against potential dumping and to bolster domestic apparel production.
Sales slump for Manyavar & Mohey's parent Vedant Fashions
Vedant Fashions, the company behind Manyavar, faces increased competition. Newer players impact its market value. The ethnic wear segment sees unprecedented store growth. Revenue growth slows, especially in Andhra Pradesh and Telangana. Vedant Fashions highlights challenges in understanding consumer preferences at the pin code level. The company expresses concerns about the sustainability of the current market dynamics.
Textile firm Arvind warns US tariffs could hit margins in fiscal year 2026
Indian textile manufacturer Arvind Ltd. on Thursday said its margins may face pressure this fiscal year as it may partly absorb the impact of new U.S. tariff policies. The company’s stock fell nearly 5% following the announcement, despite reporting a 52% year-on-year rise in fourth-quarter profit after tax to ₹1.51 billion ($17.64 million).
Must Watch
Walmart calls, but India's garment worker woes blunt tariff edge
Garment exporters in Tiruppur are poised to benefit from U.S. tariffs on competitors like Bangladesh and China, attracting interest from Walmart and Costco. However, a significant skilled labour shortage, limited economies of scale, and higher costs are hindering India's ability to fully capitalise on this opportunity.
UK FTA to boost Indian apparel, leather exports vs Bangladesh, Vietnam: Exporters
The India-UK Free Trade Agreement is set to eliminate import duties on Indian goods in sectors like apparel and leather, boosting competitiveness against nations like Bangladesh and Vietnam. This agreement is expected to significantly increase exports in various sectors, including woven apparel projected to reach USD 1.6 billion by 2027.
India's cotton yarn industry set for 7-9% revenue growth driven by export rebound and domestic demand
India's cotton yarn sector anticipates significant revenue growth. Crisil Ratings projects a 7-9% increase this fiscal year. This growth is driven by rebounding exports, especially to China. Domestic demand also plays a crucial role. Stable cotton availability and prices will boost profitability. Credit profiles are expected to remain stable. Select players will undertake capital expenditure.
Madhya Pradesh gets approval for Rs 2,100 crore PM MITRA textile park project
Madhya Pradesh has secured approval for the ₹2,100 crore PM MITRA Park, a project poised to revolutionize the state's textile industry. This integrated park, spanning 2,100 acres, will feature advanced facilities and residential complexes, attracting significant investment and creating numerous jobs.
Synthetic knitted fabrics MIP norms not for EOUs, SEZs: Govt
The government has announced an exemption from the minimum import price (MIP) of $3.5 per kg on certain synthetic knitted fabrics for advance authorisation holders, export-oriented units, and units operating within special economic zones. This decision, as per the Directorate General of Foreign Trade (DGFT) notification, aims to ease import regulations for these specific entities.
Unknotting Kashmir’s carpet woes: Hand-knotted Kashmiri silk carpets called Kal Baffi are making a subtle, yet striking, comeback
Kashmir's tourism is booming, and its hand-knotted silk carpets are reviving. These carpets, known as Kal Baffi, face challenges like US tariffs and market fluctuations. However, rising Indian demand and innovative designs are fueling a comeback. High-quality craftsmanship, GI tagging, and global recognition are also boosting the sector. Government support is crucial to sustain this legacy and protect artisans' livelihoods.
