MAG celebrated its Silver Jubilee on November 9, 2016. All the eminent personalities who had supported MAG through these years graced this occasion with their presence. The grand occasion was adorned by the present MAG’s employees, well-wishers and business associates along with their family. GV Aras, Director, A.T.E Enterprises Pvt. Ltd., Mumbai was the Chief Guest of the event and unveiled the Silver Jubilee commemorative stone.
Browsing: Apparels & Garments
During the first nine months of the current year, Indian apparel exports have declined by (-) 0.08 per cent to US $ 2,876.59 million as compared to $2,878.79 million in the corresponding period last year. In September particularly, India’s apparel export percentage to the US changed from positive to negative; till the end of August this year India’s growth (albeit marginal) was up 0.06 per cent.
The orders index for textile machinery recorded an increase for the third quarter of 2016, thanks to positive sales figures abroad. Based on an industry survey conducted by ACIMIT, the Association of Italian Textile Machinery Manufacturers, for the period from July to September 2016 the overall order intake increased by 16 per cent compared to the same period last year. The third quarter value for 2016 stood at 101.1 points (2010 basis = 100).
Cotton yarn exports in India declined by 11.58 per cent in terms of value and 4.44 per cent in terms of volume during April – June this year compared to the same period last year. Cotton yarn exports to China, being the major consumer has declined. China imported 149.66 million kg of cotton yarn during the first three months of last financial year (2015-2016) and it dropped to 99.09 million kg during the same period this year. The decline in exports started in April 2014.
Vietnam’s garment and textile export in the first nine months this year posted the lowest growth rate for the last ten years, reported Vietnam Textile and Apparel Association (Vitas). The down growth rate has been caused by import reduction from some major markets of Vietnam where have met with economic difficulties and the Britain’s exit from the EU.
Nandan Denim Limited (NDL), poised to be Asia’s largest denim fabric manufacturer has reported a net profit of Rs 16.30 crore for Q2 of FY 2016-17 as against Rs 15.61 crore in the corresponding period of 2015-16, a rise of 4.42 per cent. Net Sales for second quarter ended September 2016 at Rs 302.63 crore were higher by 2.75 per cent over previous fiscal’s same quarter Net Sales of Rs 294.53 crore. Company reported healthy EBITDA and PAT margin in Q2 FY17 at 16.23 per cent and 5.38 per cent respectively. EPS for Q2 FY 17 stood at Rs 3.39 (Face value of Rs 10 per share).
Apparel Training and Design Centre (ATDC) has signed an MoU (Memorandum of Understanding) with the Uttar Pradesh Skill Development Mission (UPSDM). The purpose is to advance skill sector in the state by offering 24 courses with the target to uplift 8,000 unemployed youth in the next three years in all UP centres i.e Noida, Kanpur, Ghaziabad, Agra, Unnao, Lucknow, Pratapgarh, Barabanki, Barailly, Shahjahanpur, Varanasi, Ajamgarh and Kannauj.