MARKET & ECONOMY​

The global textile and garment manufacturing industry converged at ITMA 2015 in Milan to source innovative solutions to enhance their business sustainability. Their commitment to sustainability is evident from the strong industry turnout. At the end of eight days, the 17th edition of the world’s most established textile and garment technology exhibition attracted visitorship of almost 1,23,000 from 147 economies.

Welspun India has achieved a revenue at Rs 14,723 million against Rs 14,135 million, a 4 per cent growth YoY. Growth rate was muted on account of base effect and capacity constraints. During Q3FY16, incremental volume from modernisation project at Vapi will be available.

Lectra, the world leader in integrated technology solutions dedicated to industries using soft materials´fabrics, leather, technical textiles and composite materials´has announced that a German competitor´s machine was declared as infringing a Lectra´s patent protecting a solution for cutting one-piece-woven (OPW) airbags in Germany.

India’s leading Denim producer, Suryalakshmi Cotton has successfully commissioned its 4th state-of-the-art plant in Amravati, Maharashtra. Built at a cost of Rs.131 crore, the fully automated and ultra-modern unit will manufacture high-grade, value-added fancy yarns such as Ring Slub, Stretch, Elli Twist and Compact.

The Telangana Spinning & Textile Mills Association (TSTMA) has sent an SOS to the Central government asking for help to ensure that healthy mills do not face closure due to adverse external factors.

The Board of Directors of Cotton Association of India (CAI) has appointed the following office bearers for the year 2015-2016 at a recent meeting of the association. Dhiren N Sheth has been reelected the President of the Cotton Association of India (CAI) for the year 2015-16.