Author: Editorial Team

Yarn, fabrics, made-ups imports rise 20% in Dec

India’s imports of yarn, fabrics and made-up articles during December last year rose by 20 per cent over the figure in the same month in 2016, according to the Ministry of Commerce and industry. Apparel exports, however, dropped 0.3 per cent in April-December 2017 and 8 per cent in December, which is being attributed by some to duty drawback rates revision. However, total export of textile and apparel rose by 2 per cent between April and December 2017 over the first nine months of 2016-17, according to a report. The Confederation of Indian Textile Industry (CITI) sees this as...

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Textile exports fall 13 per cent in January

Textile exports fell 13 per cent year-on-year (y-o-y) to Rs. 9,704 cr in January on the back of a sharp slide in cotton textile exports. Cumulative exports of textile and apparel products dropped 4 per cent y-o-y to Rs. 1.87 lakh cr in April-January 2018. While cotton textile exports declined 1 per cent y-o-y to Rs. 53,818 cr during the timeframe, apparel exports decreased 5 per cent y-o-y to Rs. 88,709 cr, data sourced by Confederation of Indian Textile Industry (CITI) showed. “The share of textile and apparel exports (in overall exports) has also declined from 14 per cent...

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Huge market for technical textile in India

Arvind’s Q3 earnings were absolutely in-line as margins met expectations while the branded apparel business stands out with improvement in profitability and jump in EBIT. We expect a lot of job creation in the textile sector, said Kulin Lalbhai, ED of Arvind. He further said that jump in textile revenue is on the back of strong volume growth. However, rupee appreciation and duty drawback led to decline in textile EBIT in Q3, he added. According to him, strong growth in brand business is due to operating leverage kicking in. Talking about business, he said ‘unlimited stores’ has reported highest...

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Nitin Spinners to set-up new textile unit in Chittorgarh

Nitin Spinners, the Bhilwara, Rajasthan based company that manufactures 100 per cent cotton yarns and cotton fabrics, will be setting up an integrated textile unit in Chittorgarh District of Rajasthan at a cost of Rs. 650 cr. Nitin Spinners’ turnover increased 15.68 per cent year-on-year to Rs. 287.10 cr for the quarter ended December 31, 2017. “The Board of Directors of Nitin Spinners Ltd has approved the setting up of integrated textile unit at village – Bhanwaria Kalan, tehsil – Begun, District – Chittorgarh (Rajasthan) for manufacturing of apparel fabrics at an estimated project outlay of Rs. 650 cr,”...

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Marks & Spencer India achieves 40 per cent growth

British multinational retailer Marks & Spencer (M&S) said its women’s wear and lingerie segments have grown 40 per cent from financial year 2014/15 to financial year 2016/17 in India. These segments, as per the company are now the fastest growing categories in India, a top company official said recently. “We continue to focus on key areas for the business such as women’s wear and lingerie, where we have seen significant growth in recent years,” said James Munson, Managing Director, Marks& Spencer Reliance India. The company witnessed 16 per cent sales growth last year, driven by new store openings, as...

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