Indian apparel exports to the US has witnessed rise by 7.5% at 745 million square metres equivalent (msme) for the period January-September 2014 over the corresponding period last year, as per the latest data by the US Department of Commerce's Office of Textile and Apparel (OTEXA).
U.S. imports of synthetic apparel surpasses over cotton garments, as of total 19.43 billion square-meter equivalents of apparel shipped to the United States through September this year, 9.87 billion clothing are made of man made fibers like polyester and viscose, according to the latest U.S. government data.
The cotton industry's fears that cotton is losing the battle to man made fibers as yarn mills have switched spindles to polyester and its cohorts due to years of high cotton prices and improving synthetic technology.
Welspun India, a part of the USD 3 billion Welspun Group, one of the top three home textile manufacturers in the world and the largest home textile company in Asia. With the 170,000 spindles and 140 looms part of the plan producing bed-sheets, towels and other made-ups have started commercial operations effective September, 2014.
The company's expansion project is half-way through with capex of Rs 1,200 crore completed by the end of the quarter. The remaining capex of around Rs 1,300 crore is expected to be completed over the next two years.
The State-run Cotton Corporation of India (CCI) has started procuring cotton at the minimum support price (MSP) in Andhra Pradesh and Telangana to protect farmers. So far, 58,000 bales of cotton have been procured from Andhra Pradesh and Telangana as the market price in these two states have fallen below the MSP rate of Rs 4,050 per quintal
CCI started MSP operation last month. About 55,000 bales of cotton were procured from Adilabad and Warangal region of Telangana, while the rest 3,000 bales from Guntur in Andhra Pradesh, the official said.
Texus Fibre an Auckland-based textile company wants to capitalise on understanding of wool to take it in a new direction, producing branded, high-performance wool-based textiles for industrial applications.
Taipei IN Style, 10th edition to bring together 196 fashion designers and brands from over 14 nations and markets from around the world, according to activity organizer the Taiwan Textile Federation.
At the pre-event fashion show, the Taiwan Textile Federation showed 22 of the latest works from fashion designers. The Federation said that Taiwanese fashion designers will be looking forward to stamping their mark on a global scale at the 10th Taipei IN Style exhibition. As of this year, TIS is being held semiannually to adhere to international buying seasons.
Siyaram Silk Mills, Indian textile giant has been on an expansion spree to achieve its vision to be present in all cities and small towns reaching every common man in remote areas delivering international quality at affordable price, this year.
With active 170 Siyaram’s shops all over India, by the FY14-15, Siyaram’s aim is to touch 200 plus franchisee showrooms. It has been opening a new franchise every seventh day.
The number of foreign-invested enterprises (FDI) pouring capital into the textile industry is growing quickly. This year, in the past 10 months local governments have given approval for almost 20 new projects of FDI firms, according to the Ministry of Planning and Investment.
However, the Vietnam Textile and Apparel Association (Vitas) has warned of the expanding gap between FDI and domestic firms in the textile-garment sector.
The Bangladesh government has drafted the 'Textile Policy 2014’, the move to prepare a new policy was initiated as the existing textile policy of 1995 has failed to address the developments in local as well as global textile market, officials said.
The new textile policy drafted plans to raise the domestic production to 14,036 metres by the fiscal year 2019-20 that is double the existing local textile production.
Glen Raven, leading provider of high-performance fabrics designed for a wide variety of residential, commercial, and industrial applications, believes that the innovation in using technical textiles for new applications across industries will be the driver of the growth of the industry.
According to Paige Mullis, Director of Concept Development, Glen Raven, globally, technical textile forms 65% of the textile market, whereas in India it is only 10 to 15%. This indicates the massive growth potential in this segment.
