Browsing: Industry Update

Rising cotton prices are set to hit profit margins of textile and apparel players due to their inability to pass on the high production cost on to consumers as seasonal demand is weak.

Karl Mayer, Rabatex Industries and A.T.E. have signed a contract for setting up a joint venture. The legally independent company is called Karl Mayer Textile Machinery India Private Limited, has its registered office in Mumbai and production facility in Ahmedabad.

Surat could play a pivotal role in VisionNXT, a trend forecasting initiative of the government to create an indigenous fashion forecasting service, textiles minister Smriti Irani said inaugurating the Rs 300-crore Karanj Textile Park in Mandvi taluka in south Gujarat recently.