Welspun Living’s revenue jumps 19.6% in FY24
Mumbai: 2024/04/28: Indian textile firm Welspun Living has reported a total revenue of Rs 98.251 billion (approximately $1.17 billion) in fiscal 2024 (FY24), marking a 19.6 per cent increase. The company said in a press release. The textile business, a key driver of this growth, reported an 18.7 per cent rise in revenue to Rs […]
There is no customer in the retail of uniform fabric: Ram Prasad Bidawatka
Mumbai: 2024/05/03: There is no customer in the retail of uniform fabric. Ram Prasad Bidawatka, MD of PrabhuG Tex Pvt. Ltd. gave this information. PrabhuG Tex Pvt. Ltd is an ISO 9001-2015 certified company. The production base of this company is located in MIDC, Murbad (Maharashtra). The company has upgraded the machines. It is doing […]
Industrialist Ganpat Kothari is going to contest the 2024 elections from South Mumbai Lok Sabha seat
Mumbai: 2024/04/28: Famous industrialist Ganpat Kothari is going to contest the 2024 elections from South Mumbai Lok Sabha seat. He has decided to contest the elections as an independent candidate. He has raised his voice for development in South Mumbai for many years. I wanted to know from Ganpat Kothari on what basis he had […]
India’s textile exports face second consecutive year of decline amid geopolitical strains
New Delhi: 2024/04/24: India’s textile exports experienced a setback for the second consecutive year in 2023-24. The data, from the NIRYAT portal of the Union Ministry of Commerce and Industry reveals. The decline is due to geopolitical tensions casting a shadow on the global economy. In the fiscal year 2023-24, exports amounted to $34.4 billion, […]
ICE cotton prices plummet amid weak demand, rising stock levels
Georgia: 2024/04/12: ICE cotton experienced a significant downturn yesterday, with most contracts declining by up to 2 US cents. Market sentiment was negatively impacted by the USDA’s latest weekly export sales report. Concurrently, an increase in certified stock levels added downward pressure on the trading environment. Specifically, the ICE cotton May contract plummeted by 2.02 […]
Yarn manufacturer Sanathan Textiles files for Rs 800 cr IPO papers with Sebi
New Delhi: 2024/04/22: Yarn manufacturer Sanathan Textiles has filed preliminary papers with capital markets regulator Sebi to raise Rs 800 crore through an initial public offering. The Draft Red Herring Prospectus (DRHP) revealed. The Initial Public Offering (IPO) is a combination of a fresh issue of equity shares aggregating up to Rs 500 crore and […]
Raymond’s revenue reaches record high of $1.1 bn in FY24
Mumbai : 2024/05/03: Raymond, a leading player in the Indian textile industry, has reported its highest-ever annual revenue of Rs 92.86 billion (approximately $1.1 billion) and EBITDA of Rs 15.75 billion in fiscal 2024 (FY24). It boasts an impressive EBITDA margin of 17 per cent. The company said in a media release. Despite challenges in the lifestyle business due to […]
Piyush Goyal urges textile industry to work on long roadmap for sector
Mumbai: 2024/04/10: Union Minister Piyush Goyal asked textile industry stakeholders to work on a long roadmap for the development of the sector. The Textiles Minister said that the industry needs to focus on the world market as this will help in making the sector competitive. “We are working on a cross-sector team to prepare a […]
Indian economy projected to grow at 8-8.3% in FY25: PHDCCI
New Delhi: 2024/04/23: India’s economy is projected to grow at 8-8.3 per cent in this fiscal (FY25).The PHD Chamber of Commerce and Industry (PHDCCI) revealed. The country’s gross domestic product (GDP) will grow at an average of 6.7 per cent over the next 23 years to lead to a $34.7-trillion economy by 2047, with a […]
India’s apparel exports stagnate at $14.5 billion; It lags behind China, EU, Bangladesh and Vietnam: GTRI report
Atlanta: 2024/04/10: India’s apparel exports stagnate at $14.5 billion; It is behind China, European Union, Bangladesh and Vietnam. If India focuses on some reforms in the future, it can leave all of them behind. GTRI report said. The report says that synthetics will have to be promoted. Weaving and processing will have to be strengthened. […]