Cotton rates in both Sindh and Punjab ranged from Rs 19,500 to Rs 21,500 per maund. Phutti prices are being quoted in Punjab only and range between Rs 9,500 and Rs 10,000 per 40 kg.
New Delhi: India is working on an ambitious target to achieve $600 billion of textile exports by 2047 from $44 billion in FY22 and the domestic market to grow to $1.8 trillion from $110 billion in 2022, led by a surge in fast fashion and growth in ecommerce.
Axis Securities has buy call on Century Textiles & Industries with a target price of Rs 1975. The current market price of Century Textiles & Industries Ltd. is Rs 1640.6.
The Nigerian government was recently urged to revive and invest in the textile industry to create 2 million jobs and reduce the over-$4 billion annual bill incurred on importing textile and apparel.
Expeditious implementation of the ambitious scheme to develop seven PM Mega Integrated Textile Regions and Apparel (PM MITRA) parks will help in attracting large investments, including FDI, in the sector besides generating huge employment, said industry experts.
Bharat Tex 2024, a Global Textile Expo, scheduled to be held in New Delhi from 26-29 February 2024, will showcase India's textile prowess across its value chain, with emphasis on sustainability and innovation.
Over 3,500 exhibitors and more than 3,000 overseas buyers are expected to participate in Bharat Tex 2024 -- a global textile expo to be held here from February 26-29, a senior official said on Tuesday. The expo is expected to bring together stakeholders across the textile value chain, including government and industry representatives, Secretary in the Ministry of Textiles Rachna Shah said.
The textile mill associations on Friday sought financial support measures for India’s spinning segment which is hit by the prolonged Ukraine-Russia conflict, the recent Israel-Hamas war, an 11% import duty on cotton and issues related to Quality Control Orders on man made fibre l.
The Indian manufacturing sector is experiencing a surge in investments, marking a significant milestone in the nation's economic landscape. According to a report by Colliers, this has poised India's manufacturing market to reach $1 trillion by 2025-26, with Gujarat becoming India's manufacturing powerhouse, followed by Maharashtra, then Tamil Nadu.
The upcoming Bharat Tex exhibition in February aims to showcase the complete textile value chain, featuring participants ranging from farmers to fashion designers. The event, held at both Bharat Mandapam and the newly constructed Yashobhoomi in the capital, marks India's dedication to becoming a global textile powerhouse, combining innovation, collaboration, and the "Make in India" spirit.
India will soon start keeping a record of its export and import of recycled textiles, as the government plans to track the trade of products made from regenerated fibres and measure the growth of the circular textile economy.
In a momentous initiative, the Indian textile industry, in collaboration with industry bodies, is set to host " Bharat Tex 2024," heralded as theworld's largest textiles event.