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India, a powerhouse in cotton production and consumption, is launching a program to empower its vulnerable cotton farmers, particularly smallholders and migrant workers.
Responsible Sourcing Network (RSN), a US non-profit, launched a publicly available list of suppliers participating in their Yarn Ethically & Sustainably Sourced (YESS) initiative.
The Indian government is considering several measures to boost the textile and apparel (T&A) industry, including reducing or removing the basic customs duty on imported organic and long-staple cotton, currently at 10 per cent. This move could stabilize cotton prices in line with international markets, benefiting an industry that is crucial to India's economy.
A drop in the area under cotton cultivation in Punjab, Haryana and Rajasthan, has resulted in cotton candy prices growing 0.4 per cent to Rs 57,640.
India's cotton yarn exports are booming, with May 2024 showing a 13.92 per cent increase year-over-year and a 4.22 per cent increase from April. Bangladesh remains the top importer, but China is making a comeback, reclaiming the second-place position. China's cotton yarn imports from India saw a significant increase of 53.27 per cent compared to April, despite still being down 53.69 per cent year-on-year.
Indian textile leader Sportking India joins forces with ATGC Biotech to launch the ‘San-Vardhan’ initiative, aiming to significantly increase cotton production.
The price of cotton candy in India rose slightly due to a decrease in cotton planting in northern states.
Chief Minister N Biren launched the 'Chief Minister's Yarn Scheme', aiming to provide yarn at reduced rates to weavers in Manipur.
Archroma, a leader in sustainable textile chemicals, is partnering Zydat to integrate Archroma's Color Atlas with Zydat's Vivid CLM color-matching platform.
Denim leader Isko brought its latest collections to Kingpins NYC on July 17 and 18 at Pier 36.
The viscose staple fiber market remained flat due to weak downstream demand from cotton yarn factories.
Key players in India's fabric industry are pressing for urgent government intervention to safeguard the domestic market from a surge in cheaper fabric imports.
ICRA predicts a strong rebound for India's cotton spinning industry in FY25, with a growth forecast of 6-8 per cent.
Tamil Nadu's once-thriving textile industry is facing a severe downturn due to rising power costs and lack of competitiveness.
Eurojersey and Lanificio Reda, two Italian leaders in textile innovation, have joined forces to create a revolutionary fabric.
Indian spinning mills are significantly reducing cotton purchases as the current season nears its end. Factors such as liquidity constraints, a shift towards synthetic fibers, and sluggish yarn demand are contributing to this cautious approach. Despite holding large cotton stocks, the Cotton Corporation of India (CCI) is struggling to offload its inventory due to weak market demand.
Global shipments of textile machinery increased in 2023, according to the International Textile Manufacturers Association (ITMF).
Textile companies are set to report mixed results for the April-June quarter. While spinning firms are expected to benefit from lower cotton prices, leading to improved margins, garment makers will likely face challenges due to subdued domestic demand.As per Elara Capital, the overall textile industry may see revenue growth of 1.4 per cent year-on-year but a 5.9 per cent quarter-on-quarter decline.
India's overall trade picture for June and Q2 2024 shows a mixed bag, with positive growth in overall exports but a widening trade deficit.
The European textile and clothing industry association, Euratex, has expressed strong support for the proposed reforms to the European Union's customs system.
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