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Indo-US meet kickstarts drive to hit $100-bn trade in textiles
A recent conference on Textiles: America First & Make in India, Together Achieving $100 billion Trade in Textiles in Mumbai was the culmination of efforts by the Indo-American Chamber of Commerce, spearheaded by the Chief of IACC Textile Forum, Suresh Kotak, the well-known Cotton King.
A shot in the arm
With the unveiling of 207 HSN Codes for the technical textile industry in India, the Government has convincingly conveyed its seriousness to promote this industry in a big way.
Ministry signs pacts with leading cos to help weavers
The Union Textile Ministry signed agreements with leading textile playes like Raymond, Welspun, Titan, Reliance Retail and the Sachin Tendulkar-promoted True Blue, under which these companies will procure more from the weavers directly.
Welspun India Q2 net up 21.4%
Textile firm Welspun India reported a 21.38 per cent increase in consolidated net profit at Rs 121.69 crore for the September quarter. The company had posted a net profit of Rs 100.25 crore in the July-September quarter a year ago.
Proliferation of home textile companies
Bed linen has a 49 per cent share in Indian home textiles market. India exported $416.4 million of bed linen in 2017 growing at a CAGR of 13 per cent, says Avinash Mayekar.
Dyed and wound
Physical well-being and safety aside, the desire to be trendy and fashionable is a fundamental motivation for today’s consumer. End products such as bed sheets, towels and clothing are made more attractive by adding colour through the process of indigo dyeing.
Welspun sets up US arm to invest in e-commerce
Welspun India has incorporated a wholly-owned US subsidiary Welspun Nexgen Inc registered with the State of Delaware, having paid up capital of $4.25 million to make investment in e-commerce companies.
Welspun’s new tech to verify cotton origin
Welspun India has emerged as the first global textile entity to patent a fibre-tracking technology, turning adversity into opportunity. The Mumbai-based world’s second largest terry towel producer, developed the technology after a large customer terminated a contract following mislabelling of the provenance of fibre in certain consignments.
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