Textile Market News

The Indian textile industry is expected to see significant developments in 2024, with a resurgence in export demand particularly ready-made garments (RMG), says a report by B&K Securities.. Despite domestic challenges, including moderate consumer spending and overstocking, the export market shows promise, with factors like Western retailers restocking and increased demand for spring-summer collections driving demand. India's competitive edge in cotton yarn, with stable prices and reliable supply is set to enhance its global position.

The global wool market is experiencing significant growth, with a boost in demand for sustainable and natural fibers. A recent report by Maximize Market Research reveals, several factors are contributing to the growth of wool market. Growing consumer awareness about the environmental benefits of natural fibers, coupled with the increasing popularity of sustainable fashion, is driving demand for wool products. Additionally, advancements in wool processing technologies are enhancing its versatility and appeal, making it suitable for a wider range of applications.

A delegation of industrialists and consultants from Coimbatore, a prominent textile hub in Tamil Nadu, visited Indore recently to explore investment opportunities in the textile sector. The visit, facilitated by the Association of Industries Madhya Pradesh (AIMP), aimed to connect Coimbatore-based spinning units with potential partners and locations in MP.The delegation, which included representatives from Coimbatore-based spinning units, expressed keen interest in expanding their operations in Madhya Pradesh due to the state's abundant cotton resources and strong textile manufacturing infrastructure.

Brazilian cotton prices fell in August, driven by an increase in domestic supply, falling international prices, and improved export parity. This decline led to increased consumer interest and liquidity in prompt-delivery trades, as reported by CEPEA. The CEPEA/ESALQ cotton index dropped 4.65 per cent during the month, closing at BRL 3.8863 per pound on August 30. Meanwhile, the 2023-24 cotton crop harvest is progressing smoothly, with favorable weather conditions in key producing regions like Mato Grosso.

In the first seven months of 2024, Kyrgyzstan’s cotton exports to China rose dramatically, according to the General Customs Administration of China. The volume of cotton exported reached 3,100 tons, marking a 19-fold increase compared to the same period in the previous year. In monetary terms, these exports saw a 12.1-fold rise, totaling $5.4 million. Kyrgyzstan shipped cotton to China primarily in January, February, and April. This significant growth highlights the strengthening trade relationship between the two countries and reflects the increasing demand for cotton in China.

Global Organic Textile Standard (GOTS) has kicked off the second annual #BehindTheSeams campaign, running throughout September. This year’s initiative highlights the sustainable and ethical practices behind GOTS-certified products, from fashion to hygiene items, with a focus on transparency and consumer education. Building on last year's success, the campaign now features daily Instagram giveaways with leading GOTS-certified brands like Frugi and Organic Basics. Additionally, two major prizes are up for grabs: a sustainable trip for two to Paris and a hand-built organic mattress for a North American winner.

Birla Cellulose and Hyosung have teamed up to introduce an innovative collection of cellulosic knits featuring Creora Color+ Spandex. This collaboration marries vibrant color with superior flexibility, overcoming traditional spandex’s dye absorption challenges. Abir Chakrabarti, Joint President of Grasim Industries, lauded the fusion of science and style in their new line. The innovative CREORA Color+ Spandex enables deep, uniform color in natural fibers like cotton, rayon, and modal, addressing previous limitations with spandex's dyeing capabilities

Aarti International Limited (AIL) is redefining sustainability in the textile sector with its groundbreaking initiatives. Established in 1996, AIL has earned acclaim for its commitment to eco-friendly practices, notably through its pioneering Zero Liquid Discharge (ZLD) technology in knit processing. This approach, which ensures zero wastewater discharge, has earned AIL recognition from Punjab chief minister Bhagwant Mann, who awarded Managing Director Vinayak Mittal for this achievement.

The 51st edition of the India Knit Fair Association (IKFA) knitwear exhibition is will open doors in Tiruppur from September 4 to 6. The theme this time is ‘Preserving our planet by innovation and circularity’, the event aims to showcase the region's commitment to sustainable manufacturing.Hosted in partnership with the Tiruppur Exporters' Association and the Apparel Export Promotion Council, the fair will feature 70 exhibitors showcasing their latest collections for the summer and spring seasons. Leading garment suppliers from Tiruppur, Bengaluru, Salem, Karur, Erode, and Kolkata will participate.

Dutch company Polylana is revolutionizing fiber technology. Polylana's latest innovation is a significant step towards a more sustainable fashion industry. Their new fiber boasts of an impressive 90 per cent recycled content, offering a high-quality, eco-friendly alternative to traditional acrylic fibers. This achievement aligns perfectly with Amsterdam's progressive fashion scene, which has long championed sustainability and ethical practices.

India’s cotton exports to Bangladesh has taken a hit as Western garment orders to Dhaka decline, affecting Indian textile industry, which supplies essential raw materials to Bangladesh. Industry leaders note that while garment enquiries are rising in India, the decline in cotton exports to Bangladesh is a significant concern. M Rafeeque Ahmed, Chairman of Chennai-based Farida Group, highlighted that despite recent disruptions, production in Dhaka and Chittagong is stabilizing. However, the flow of Western orders remains slow, though they are expected to resume due to Bangladesh's favorable duty status as a least developed country (LDC).

Fili Pari Srl SB is advancing its MineralDye technology, beyond its application in cotton to include linen, silk, tech wool, and other yarn compositions. This innovation in the textile industry combines traditional techniques with modern sustainability, using marble and mineral powders as natural pigments. MineralDye is a significant leap forward, transforming a traditionally polluting dyeing process into an eco-friendly one. Unlike conventional methods that use up to 150 liters of water per kilogram of yarn, MineralDye requires just 1 to 20 liters, dramatically reducing water and energy consumption. The result is a unique mélange effect with natural pigments that offer excellent color fastness and durability.

As Bharat Tex 2025 approaches, key industry figures are gearing up for the event. The expo, scheduled for February 14-17, 2025, will showcase India's entire textile value chain. At a meeting of the Steering Committee held on recently, Rahul Mehta, Chief Mentor, CMAI, emphasised stressed on the expo's emphasis on sustainability, stating that Bharat Tex would showcase India's advancements in eco-friendly textiles. Vijay Agarwal of Texprocil highlighted the event's scale and diversity, noting that Bharat Tex would showcase the breadth of India's textile talents.

The Andhra Pradesh government is looking forward to the Cotton Corporation of India (CCI) purchasing all cotton registered under the e-crop system in the state. Agriculture Minister Kinjarapu Atchannaidu and Textiles Minister S Savitha announced new efforts to increase cotton cultivation and production, ensuring financial stability for farmers. At a meeting with ginning and spinning millers, Acharya NG Ranga Agriculture University scientists, and agricultural officials in Amaravati, the ministers emphasized the importance of eliminating waste in cotton to secure better prices for farmers. They warned traders that the cess on cotton would be removed only if they purchased from local farmers.

Systematix Institutional Equities forecasts a positive outlook for India's textile sector in the second half of FY25, driven by improved demand, easing inflation, and global supply chain shifts. Despite challenges, the sector is expected to see strong revenue growth, EBITDA, and PAT, bolstered by lower raw material costs. The report underscores global shifts in supply chains, influenced by the China +1 policy and instability in Bangladesh, leading global brands to consider India as a key sourcing hub. However, rising domestic cotton prices, now at Rs 58,000-60,000 per candy, pose a significant challenge. This rise in prices has made Indian textiles less competitive internationally, especially as global cotton prices have declined.

Heavy rainfall in Gujarat has wreaked havoc on the state's textile industry, leading to disruptions in supply chains and significant losses for businesses. The incessant downpour has flooded factories, damaged raw materials, and hampered transportation, causing a ripple effect throughout the textile sector. Textile mills in Gujarat, a major textile hub in India, have been forced to halt operations due to the adverse weather conditions. The flooding has caused extensive damage to machinery and infrastructure, leading to delays in production and shipments. The situation is particularly dire in coastal areas, where the combination of heavy rainfall and high tides has resulted in severe flooding.

In order to safeguard domestic interests, India's textile industry is intensifying its call for an extension of the Minimum Import Price (MIP) across all Harmonized System (HS) lines under Chapter 60. This chapter encompasses various types of knitted and crocheted fabrics, a crucial segment for the country's textile sector. The current MIP, set to expire on September 15, 2024, covers only five specific HS lines. However, stakeholders argue this limited scope has not effectively curbed imports, as overall knitted fabric imports have persisted unabated. Concerns have been raised about the adverse impact of fabric dumping, which has undercut local prices and stifled market opportunities for domestic manufacturers.

India's cotton sowing area has significantly decreased this year compared to the previous season. As of August 22, the total area under cotton cultivation was recorded at 111.386 lakh hectares, down from 122.742 lakh hectares in the same period last year. The decline in acreage is particularly pronounced in the northern states of Rajasthan and Punjab, which were severely affected by the Pink Bollworm pest last season. The infestation discouraged farmers from planting cotton this year, leading to a substantial reduction in sowing area.