Textile Market News

The textile industry in Tamil Nadu, a major employer in the state, is facing challenges due to high raw material costs. SK Sundararaman, chairman of the Southern India Mills' Association (SIMA), met with the new Union Textile Minister, Giriraj Singh, to discuss their concerns.

Fashion retailer Marks & Spencer (M&S) is allowing alpaca wool back into its clothing lines, reversing a 2020 ban prompted by animal welfare concerns. The change follows the launch of the Responsible Alpaca Standard (RAS), which M&S considers sufficient to ensure ethical sourcing.

Ludhiana-based fabric dyeing company Kudu Knit Process Pvt. Ltd. has enhanced its operations with digital solutions from Sedo Treepoint. This collaboration marks a significant step in Kudu's digital transformation journey.

India's cotton exports are expected to jump by two-thirds in the 2023-24 season, reaching 26 lakh bales (170 kg each) due to rising demand from Bangladeshi mills. This marks a significant increase from the previous season's 15.5 lakh bales.

The Southern India Mills’ Association (SIMA) is organizing the 14th Texfair, a textile machinery exhibition, from June 21 to 24 in Coimbatore. This event aims to connect textile mills with machinery suppliers and promote modernization within the industry.

Fashion icon Diane von Furstenberg (DVF) is partnering with Lenzing Group, a leader in sustainable fibers, to bring eco-conscious clothing to the mainstream.

China's knitted fabric exports dipped in 2023, marking a shift after two years of steady growth. Shipment volume fell 6.1 per cent to 2.4 million tons, though the overall trend since 2013 showed a moderate annual increase of 4.3 per cent with some fluctuations.

The US Cotton Council International (CCI) urged the Indian government to eliminate the 11 per cent import duty on short staple cotton. This move aims to bring down prices and benefit Indian textile manufacturers.

South Korean sustainable textile leader Hyosung TNC joins forces with Ambercycle, a material science company, to introduce the first textile-to-textile circular polyester into South Korean supply chains. This partnership aims to create a closed-loop system for textiles, reducing environmental impact.

Nilit, known for its sustainable Nylon 6.6 fibers, has published its 2022-2023 Impact Report, showcasing substantial advancements in textile sustainability.

The spandex industry in China is facing a potential oversupply situation as production capacity ramps up and downstream demand weakens.

Uzbekistan's cotton industry is undergoing a transformation towards sustainability. The Better Cotton Initiative (BCI) has certified several cotton clusters, marking a significant step. This move follows the end of a boycott by the Cotton Campaign, leading to renewed interest from international clothing brands.

This year's Yarn Expo Autumn will take place from August 27th to 29th at the National Exhibition and Convention Center in Shanghai, China. With a focus on eco-friendly products, the event aims to capitalize on the positive outlook for the global yarn and fiber market.

The US Department of Agriculture (USDA) reported a rise in cotton exports. Upland cotton sales, the most common variety, climbed 28 per cent with China and Vietnam leading the pack. China purchased 77,500 running bales (RB) of Upland cotton, while Vietnam bought 28,900 RB. Pakistan, Macau, and Mexico also saw increased purchases.

India's textile industry, a giant in the global market, is poised for explosive growth. The industry, currently valued at $240.8 billion, is projected to reach a staggering $350 billion by 2030, boasting a 10 per cent annual growth rate. This surge is fueled by a strong domestic economy and a strategic focus on new frontiers like technical textiles, home furnishing, and specialty fabrics.