Garments / Textiles
Textile exports to reach USD 65 bn by FY-26 and USD 350 bn by 2030: Invest India
India's textile industry was expected to reach USD 65 billion in exports by FY26, with the domestic market projected to grow to USD 350 billion by 2030. Government incentives and a robust FDI outlined the growth plan. The industry provided jobs to millions and became a key player in technical textiles and PPE manufacturing. Competitive production costs and skilled labor further bolstered the sector.
Innerwear sales indicate economic turnaround is here to come
Companies such as Page Industries and Arvind Fashions have reported a surge in inner wear sales, reflecting economic optimism. Increased footfall, better inventory management, and digital expansion contributed to this trend. With positive signs like slowing inflation and normal monsoon progress, the demand for men's underwear and overall inner wear hints at a broader economic recovery.
Textiles, apparel exports rise 4.73% in July on improved demand: CITI
In July, India's textiles and apparel exports grew by 4.73% to USD 2,937.56 million, driven by higher demand for apparel. Textile exports were stable at USD 1,660.36 million, while apparel shipments surged by 11.84% to USD 1,277.20 million.
CITI, ILO launch project to promote FPRW in India's cotton sector
The Confederation of Indian Textile Industry and the International Labor Organization collaborated to enhance fair labor practices in Madhya Pradesh's cotton farming districts. The project targets 6.5 million farmers, focusing on women and small-scale farmers. This partnership aims to boost sustainable livelihoods and better integrate farmers into the global supply chain.
Garment sector facing uncertainty due to Bangladesh crisis, normalcy may return soon: FM
Uncertainty looms over the Indian garment sector due to a political crisis in Bangladesh. Finance Minister Nirmala Sitharaman voiced hopes for a quick solution. Investments by India's textile industry are at stake, with Nobel laureate Muhammad Yunus heading an interim government after Sheikh Hasina's abrupt resignation.
Uniqlo India profit jumps 25%, sales growth declines
Uniqlo's sales growth in India slowed to 32% last fiscal year, but its net profit increased by 25%. The company reported a net profit of ₹85.1 crore with revenues totaling ₹824 crore for FY24. Despite a tough market, Uniqlo aims to expand by introducing smaller stores in both existing and new cities in India.
India set for export order increase on the back of Bangladesh turmoil
India stood poised to seize 6-8% of Bangladesh’s monthly garment export orders short-term and 10% long-term. Socio-political uncertainties in Bangladesh could lead global brands to diversify sourcing. India’s textile infrastructure, government initiatives, and a comprehensive value chain presented it as a strong alternative.
Short-term garment orders may shift to India due to turmoil in Bangladesh: Exporters
Indian exporters noted that Bangladesh's political unrest might temporarily redirect garment orders to India. Recently, Sheikh Hasina resigned amid protests, disrupting business activities. Exporters emphasized their empathy for Bangladesh and wished for a quick return to stability for normal business to resume.
Bangladesh crisis poses "significant concerns" for India's textile, apparel industry: CITI
Bangladesh unrest: The Confederation of Indian Textile Industry has raised alarms about the political upheaval in Bangladesh, which could disrupt the supply chain and affect Indian textile companies operating there. Potential production delays and market shortages are anticipated, pushing businesses to explore alternative manufacturing hubs. The crisis may also impact global brands sourcing from Bangladesh.
Government plans 12 new industrial parks and multiple mega textile parks: Piyush Goyal
Commerce Minister Piyush Goyal revealed plans for 12 new industrial parks and mega textile parks, urging private sector participation. Highlighting notable economic progress, he spoke on reducing compliance issues and emphasizing youth and skill development. Minister Jayant Chaudhary echoed a focus on forward-thinking initiatives in the Union Budget for entrepreneurship and education.
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Filatex Fashions bags Rs 293 crore export order
Filatex Fashions' subsidiary, Filatex Mines and Minerals, received its first export order worth USD 35 million for white marble from Bloomflora Ventures for 54 hospitals in Africa. The company also approved a 5:1 stock split to increase market liquidity and appointed Sunil Agarwal as CEO and Additional Director, enhancing the leadership team.
Tata International to increase share of sustainable leather to 50% in 4 years
Tata International plans to increase its sustainable leather production from 27% to 50% by FY28. Manufactured under the Earthcare brand, including Phoenix Leather, the sustainable leather is produced in Dewas. Despite post-Covid challenges, demand is recovering in key markets. Tata collaborates with top global brands and benefits from India's reduced customs duty on certain leather types.
Khadi, handloom sales rising, creating job opportunities in large numbers: PM Modi
Prime Minister Narendra Modi, in his Mann Ki Baat broadcast, announced Khadi Gramodyog's business surpassing Rs 1.5 lakh crore, attributing the 400% sales increase to growing popularity and job creation, especially among women. Modi encouraged citizens to purchase Khadi. He also celebrated Indian students' success in the International Mathematics Olympiad and urged support for athletes in the Paris Olympics. Additionally, Modi praised Assam's Moidams' inclusion in the UNESCO World Heritage list and remembered the great Ahom warrior Lachit Borphukan.
Lowered customs may improve India’s global position in apparel and footwear market
Indian-made apparel and footwear could become a significant player in global sourcing for brands such as Zara, H&M, Marks and Spencer, and Gap. Finance Minister Nirmala Sitharaman has announced exemptions on import duties for raw materials used in apparel and footwear, provided these materials are used for further export.
Delhi HC restrains local firms from using 'ADIDAS' mark
The Delhi High Court has restrained three local firms, Adidas Weaving Mills, Adidas Textile Industries, and Adidas Merchandise, and their directors from manufacturing, trading, selling, or dealing in textile goods under the "ADIDAS" mark or any other marks deceptively similar to Adidas AG's trademark. Adidas AG sought damages of Rs 20 lakh, but Justice Sanjeev Narula rejected the claim, stating it was entitled to nominal damages of Rs 3 lakh.
Indian cotton spinning industry expected to recover in FY25: ICRA Report
ICRA predicts the domestic cotton spinning industry will recover in FY2025, with 6-8% growth driven by increased volume and mild realisation gains. Following two years of decline, improved domestic demand and stabilised exports will boost the industry. Cotton yarn prices are expected to rise slightly, supporting better profit margins and reduced leverage levels.
