Textile Market News

In Texas, where cotton is a cornerstone of agriculture with over seven million acres under cultivation, efforts are underway to restore its prominence. Agriculture leaders emphasize the crop's significance to the state’s economy and heritage. The rise of fast fashion has driven demand for cheap synthetic fabrics like polyester, but environmental concerns are steering consumers back to natural fibers such as cotton, wool, and mohair. Synthetic fabrics shed microplastics during washing, polluting waterways and taking centuries to decompose. In contrast, cotton is biodegradable, breaking down within months.

The Andhra Pradesh government has launched a new textile policy to stimulate the state’s economy by attracting investments worth Rs 10,000 crore to the textile sector. The state, which is the sixth-largest cotton producer in India, is poised to leverage its abundant raw materials to enhance value-added textile production. In 2022-23, AP produced 15.41 lakh bales of cotton, and the sector already hosts around 106 spinning mills and 12,635 power loom units.

AB Cotspin India Ltd has secured an Rs 7.5 crore order to supply 300 metric tons of premium cotton yarn. The order underscores growing demand for its high-quality products in both domestic and global markets. Managing Director Deepak Garg highlighted that the order demonstrates the company’s strong commitment to quality, efficient delivery, and fostering lasting customer relationships, reinforcing its position as a trusted partner in the textile industry.

India’s textile and apparel sector, including handicrafts, recorded a 7 per cent growth in exports during April-October FY 2024-25, reaching $21,358 million compared to $20,007 million in the same period last year, as per Directorate General of Commercial Intelligence and Statistics (DGCIS) provisional data. Cotton textiles, a major contributor, accounted for $7,082 million, marking a modest 1 per cent rise. Despite challenges, the sector highlights India’s growing production capacity and export potential.

The textiles ministry announced that investment MoUs with an expected potential of over Rs 18,500 crore have been signed for the seven PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks. These parks are designed to enhance India’s textile infrastructure, with activities underway to establish essential facilities such as water, power, and roads at the park gates. The selected states and special purpose vehicles (SPVs) are progressing well, with 100 per cent of land already acquired and handed over. Environment clearances are in place for sites in Gujarat, Uttar Pradesh, Tamil Nadu, Karnataka, and Telangana.

The Wool and Woolens Export Promotion Council (WWEPC), led by chairman Romesh Khajuria and Executive Director Suresh Thakur, hosted a gathering on December 27, 2024, at Udyog Bhavan, Ministry of Textiles. The event focused on blending hemp and wool to establish India as a leader in sustainable textiles. Key stakeholders, including Karan Sarsar (Awega Green Technologies), Shripat Jagirdar (Weaving Vibes), Shridhar Jagirdar (Karishma Exports), and agriculturist Kanika Sood, highlighted the potential of hemp-wool textiles in meeting global demand for eco-friendly fabrics.

India has launched investigations into alleged dumping of two Chinese products: trimethyl dihydroquinoline (TDQ), a chemical used in the rubber industry, and nylon filament yarn. The Directorate General of Trade Remedies (DGTR) is examining if imports of nylon filament yarn from China and Vietnam are being dumped at unfairly low prices, potentially harming domestic producers like Century Enka, Gujarat Polyfilms, and Oriilon India.

Union textile minister Giriraj Singh announced the upcoming PM MITRA Park in Dhar, Madhya Pradesh, is set to attract an investment of over Rs 10,000 crore and generate at least 1 lakh employment opportunities. Singh highlighted the government's vision to position India as a global textile hub, aligning with Prime Minister Narendra Modi’s goal of making the country self-reliant.

Punjab traders are urging a reduction in Goods and Services Tax (GST) rates on fabrics, arguing that the current structure disproportionately impacts the industry. At a recent meeting of the Punjab Pradesh Beopar Mandal (PPBM), concerns were raised about the revised GST rates, which place a majority of knitted sweaters and high-end fabrics in the 18 per cent and 28 per cent tax brackets.

Khargone farmers staged a semi-clad protest at the Krishi Upaj Mandi, accusing the Cotton Corporation of India (CCI) of unfairly rejecting their cotton as substandard. This demonstration followed a four-day pause in CCI’s procurement activities. Although purchases resumed, farmers blocked the mandi gates and voiced their grievances.