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Textile Industry Newsletter - December 2023

INDIA


HryTex: UP Nods Jewar Expansion

The UP Government has approved Faridabad's textile giants to expand to Jewar, near the upcoming Noida International Airport. This strategic move unlocks a new chapter for India's booming textile industry. With rapid development at the airport, Jewar is set to become a global player, attracting significant investments and generating massive employment...



Textile Boost: Govt Remedies Essential

K.V. Srinivasan, ITMF president, highlights challenges in India's textile industry—raw material issues, high power costs. Urgent policy changes needed for competitiveness, including removing import duty on cotton. Existing capacities suffer due to incentives for new investments. Stagnant exports hinder growth compared to countries like Bangladesh and Vietnam...



Global Textile Opportunities for India

ITMF President Srinivasan sees global textile opportunities for India despite challenges in low demand and industry-wide impacts. Focus on enhancing competitiveness is crucial. Felicitated by Southern India Mills' Association...




PLI Schemes Tweaked for Investment Boost

EGoS extends PLI schemes for AUTO, ACC, Textiles. Shifts PLI-AUTO start to 2023-24. PLI-ACC allocates 10 GWh for storage. Textile projects get a year extension. Bulk Drugs PLI extended due to lack of interest. Medical Devices PLI extended. DPIIT allows savings for solar PV and millet schemes. PM Modi's vision: PLI boosts India's economy. Invested Rs 950 billion, created 450,000 jobs, Rs 7.8 trillion production, Rs 2.8 trillion exports (Nov '23)...



Textile Crisis: Low Demand Alert

Indian textile industry faces crises with shutdowns, reduced work hours, and weak demand due to inflation, rising input costs, and stringent quality control orders. Heavy reliance on expensive cotton, coupled with restrictions on man-made fiber, hampers competitiveness. Garment imports, especially from Bangladesh, pose a significant challenge. Urgent and consistent government intervention is crucial for industry revival and global competitiveness...



BharatTex'24: Delhi Textile Show

Bharat Tex 2024: The global textile extravaganza showcasing 3,500 exhibitors, hosting 50+ knowledge sessions, and attracting 3,000 overseas buyers. Witness cultural performances, eco-friendly installations, and master craftsmen. A textile innovation hub and cultural celebration in New Delhi, aligning with India's textile export vision...



FMPCCI-Russia Textile Pact

FMPCCI and Smolensk Chamber inked a 2-year MoU to boost exports of textiles, pharmaceuticals, and engineering products from Madhya Pradesh to Russia. MP's textile sector gains traction, attracting Russian traders. The agreement aims to enhance bilateral trade and explore new markets...



ESG Shift: India Textiles?

India's textile sector faces challenges with EU's CBAM and ESG norms. To secure EU trade benefits, the sector must invest in sustainability. While strides are being made, compliance hurdles remain for MSMEs, impacting margins. Global buyers demand compliance but often resist higher product prices. Advocacy for MSME exemptions and incentives for sustainability efforts is underway. ESG norms could reshape fashion seasons and impact trade negotiations. The sector aims for a paradigm shift to cement its global position...




GLOBAL


Intertextile Shanghai '24 Prep

China's textile market thrives; Intertextile Apparel's Spring Edition on March 6-8, 2024, features 3,000 exhibitors, global leaders like Eastman Chemical & Liberty Fabric. Booming retail, strong buyer presence, and visa-free entry propel international participation. Co-organized by Messe Frankfurt, it's a premier event shaping the global apparel landscape...



Heimtextil 2024: Future Unveiled

Heimtextil Trends 24/25 unveils 'New Sensitivity,' emphasizing transformation over trends. The 'Trend Space' in Hall 3.0 showcases innovative textiles, sustainable practices, and cutting-edge technologies like AI and AR. Explore four trend worlds, experience live demos, and engage with industry pioneers for a glimpse into a sustainable textile future...



BD Apparel & Fashion for Good: Chem Recycle

Bangladesh's apparel sector advances sustainability with 24 garment factories receiving LEED certifications in 6 months. The collaboration between Bangladesh Apparel Exchange and Fashion for Good focuses on chemical recycling technologies, fostering a circular fashion ecosystem. The initiative aims to set global standards for eco-friendly garment production, attracting investment and partnerships...



China Boosts Bangladesh, Sparks Rivalry

A Chinese firm has committed a big investment to set up a factory in an EPZ in Bangladesh that is close to a strategic port. According to an expert, this will further increase competition between India and China for influence in Bangladesh...



VietTex 2024: Textile Boom Guide

VIATT 2024 spotlights Vietnam's thriving textile industry, showcasing apparel, home textiles, and technical innovations. Vietnam's global hub status, strategic location, and favorable trade agreements make it an ideal platform. Key exhibitors, like Hanyang Eco Tex and Avery Dennison, anticipate fruitful connections and business growth in this dynamic market...



Uzbek Confab 2024: ITMF & IAF Meet

Samarkand, Uzbekistan hosts ITMF Annual Conference & IAF World Fashion Convention 2024. Uzbekistan emerges as a global textile hub with $3.5B exports to 75+ countries. Uztextileprom aims for socially sustainable cotton textile sourcing. 1,000+ industry leaders unite for global textile discussions...



COP28: Better Cotton Gets UNFCCC Status

Better Cotton gains UNFCCC observer status at COP28, emphasizing sustainable farming, climate-smart practices, and finance for smallholders. Commitment to inclusive collaboration includes signing the UN's 'Uniting Sustainable Actions.' COP28 highlights the transition from fossil fuels and operationalizing the Loss and Damage Fund, emphasizing a balanced approach to climate change...



GIZ & GFA Target Textile Waste in Cambodia

GIZ and Global Fashion Agenda team up for the Circular Fashion Project in Cambodia, aiming to revolutionize waste management, promote circular fashion models, and bolster recycling infrastructure. The pilot program focuses on sustainable practices for manufacturers, incorporating recycled fibers, and employs digital traceability. Project runs until June 2024... 






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