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Diversify to polyester textile products – advises Secretary (Textiles)
The Confederation of Indian Textile Industry (CITI), the National apex body for the textiles & clothing industry across the Nation, organised an interactive meeting with Ravi Capoor, Secretary, Ministry of Textiles, Government of India with the office-bearers of 48 textile Associations in South India representing the entire textile value chain.
Textile bodies hail financial measures to boost economy
Indian textiles and clothing industry, the second largest employment provider (around 11 crore people) next only to agriculture was the second largest exporter in the world during 2017, now it has slipped to 5th position due to global recession especially in the aftermath of US-China trade war and the tariff concessions extended for the competing Nations like Vietnam, Bangladesh, Pakistan, etc.
Acimit upbeat on export to PERU
Expotextil, the fair for the textile and garment sector in Peru, will be held from 24 to 27 October in Lima. At Expotextil there will also be a large representation of Italian textile machinery manufacturers.
Alpha Capital invests in women’s brand
Mumbai-based private investment firm Alpha Capital has invested Rs 80 crore in women’s ethnic and casual wear label Shree, whose owner SHR Lifestyles will spend the money to expand its reach in existing markets and penetrate new regions, especially in south India.
Arvind Envisol, Chinese company sign JV
Arvind Envisol, the wastewater treatment arm of Rs 6,900 crore textile firm Arvind Ltd, is looking for collaborations across India, Africa, Bangladesh and China for driving growth and is in the final stages of signing a joint venture agreement with a Chinese textile company.
Tax refunds to boost textile exports
The textile industry expects exports to increase with the government extending refund of State and Central taxes on shipments of apparels and made-up goods.