Welspun Corp has won 26 KMT line pipe order from a long-standing customer in North America. This order will be executed from our US facility in Little Rock, Arkansas.

The receipt of the orders indicates a revival in the Oil & Gas business outlook in North America, says the company. It believes, many such opportunities for both Sprial and HFIW pipes may emerge in future. The order also reiterates customers’ trust in Welspun Corp's systems, processes, quality and people to execute prestigious projects, says the company.

Based in Mumbai, Welspun India is Asia's largest and the second largest terry towel producer in the world It exports more than 94 per cent of its home textiles products to more than 50 countries. It exports more than 68 per cent of its production to US, 23 per ent to Europe and the balance to Middle East, Australia, Mauritius. It supplies to 17 out of the top 30 retail chains in the world.

In its new report, Morgan Stanley & Co upgraded Gap Inc. to ‘equal-weight’ from ‘underweight’ and said i that the retailer’s stock decline implies the market appreciates its concerns of broader turnaround uncertainty against recent mis-execution and potentially overly optimistic 2022 EPS guidance. The Morgan Stanley report also says, Gap is in need of significant transformation.

The report says, the analyst is less confident of Gap’s ability to execute following [third quarter 2021’s] mis-execution. Its gross margin gains are likely to reverse, and it is unclear if higher marketing spend will yield sales reacceleration. The company’s multiyear program of closing Gap and Banana Republic stores in North America — 350 in total by January 2024 — was at the end of the fourth quarter 70 percent complete.

Gap Inc. also operates Old Navy, where the performance has recently slowed, and Athleta, which continues to be the star performer in the portfolio and on track to reach $2 billion in volume in 2023. There have been reports that shareholder activists are pressuring the Gap board to spin off Athleta to raise shareholder value. Some analysts believe Gap brands, if separated out, would yield more value to shareholders than Gap Inc. as it stands now.

India’s leading technical textile manufacturing company Kusumgar Corporatesin association with the Textile Manufactures Department of VeermataJijabai Technological Institute -Mumbai will organize the grand finale of ‘Innotex 2022’, the country's first and only national project competition of its type, with the aim to recognize the top minds in technical textile sector.

INNOTEX encourages students and academia from all over India to submit their finest ideas for technical textile innovation.

The grand finale of the competition will be held in offline mode at KrantijyotiSavitribaiPhule Auditorium, VJTI Mumbai. The competition has received a great response from students all over the country and a total of 11 entries were received of which three are shortlistedby an eminent panel of evaluators for the final round.

Cambodia’s garment, footwear, travel goods and other textile-related products exports grew 25 per cent to over $3 billion Q1FY 2022, reveals General Department of Customs and Excise of Cambodia (GDCE) stats. From January-March, Cambodia’s exports surged 24.8 per cent Y-o-Y to $3.155 billion, says Kiang Monika, Deputy Secretary General, Garment Manufacturers Association in Cambodia (GMAC)

He attributed the surge in garment exports to a stable production and continuing shift of influential orders away from China and Myanmar to other countries including Cambodia. He said, growth would likely extend until end-2022. However, increased sales does not necessarily guarantee an improvement in profits, he added. Ly Kunthai, President, Cambodia Footwear Association, says the association has been receiving a lot of orders since the reopening of economies and rolling back of COVID-19 restrictions.

Textile exports surged 15.2 per cent to $11.3896 billion in 2021, shows GMAC data. Of the total, garment exports accounted for $8.017 billion, footwear exports totaled $1.390 billion, travel goods were to the tune of $1.490 billion, and other categories clocked in at over $0.49 billion.

Weaving and processing units in Surat are struggling with raw material shortages and their rising prices. Prices of coal and lignite in the city have increased by over 100 per cent, electricity bills have surged by about 10-15 per cent while labor charges are surging by 12 per cent.

Ashok Badani, Owner of a processing unit says, prices of polyester yarn in the city have jumped by over 30 per cent in the last six months. This is making it difficult for weavers to buy yarn in large quantities, he adds. The steep rise in inputs costs is also disrupting production activities with most units running one shift 12-hour shift a day, adds Lalit Pipalya, Weaver.

Before the pandemic, weavers processed nearly 40 million metres of fabric per day. But now, they process only about 30 million metres a day. This threatens a 65 per cent decline in cluster’s turnover this year. Weavers’ operating margins are also being squeezed as they do not pass all additional costs to consumers. However, this has led to a 50 per cent decline in their own profit margins. Over 75 per cent of the 50,000 plus weaving units and more than 400 textile processing houses in Surat are relatively small units or MSMEs. Jitendra Vakharia, President, South Gujarat Textile Processors Association (SGTPA), says, their small capacities make it harder for them to absorb the sudden hike in raw-materials and other costs.

The Surat textile cluster provides direct employment to over two million people in the city.

India's first and largest digital ecosystem for natural fibre supply chain Reshmandi has set up Asia's second-largest cocoon warehouse in Ramanagara. Benefitting over 30,000 sericulture farmers and serving over 6,000 reelers, the warehouse will optimize silk value chain and increase production.

Mayank Tiwari, CEO and Founder, Reshamandi says, the warehouse will provide several prospects and opportunities to the whole supply chain ecosystem. It will help the company implement a comprehensive set of actions onsite for the farmers’ ease and monetary gain. Reshamandi currently sources fabrics, saris, and accessories directly from 5,500 weavers and 6,000 plus reelers.

The exemption of import duty on cotton till September 30 will boost textile exports to $60 billion in the current fiscal year, says Home Textile Exporters Welfare Association (HEWA). Exemption will not only benefit the entire textile value chain but also ease demand pressure and stabilize cotton prices, says HEWA in a KNN India report. Another benefit of the exemption includes end of volatile situation persisting since the last six months, which would help the textile exporters achieve splendid growth in FY23, adds the association.

HEWA says, the government needs to stop the uncontrolled exports of raw materials to nations such as China and Bangladesh as they are disrupting the current supply-demand cycle. Rise in cotton prices since October 2021 impacted textile exports in 2022, it adds.

Sivaramkrishanan Ganapathi, Managing Director, Gokaldas Exports says, the newly approved production linked incentive (PLI) scheme will benefit his company from FY24 onwards. India’s leading garment manufacturer and exporter based out of Bengaluru, Gokuldas Exports has a turnover of over Rs 1,000 crore with a diverse workforce of over 20,000 employees at 23 factories located in the states of Karnataka, Andhra Pradesh and Tamilnadu.

Ganapathi believes, the scheme will boost MMF investments in India. It will not bring in any benefits for the company in FY23 as it already has a strong order book and expects strong growth during the year. The Indian government approved 61 companies for the textile production linked incentive (PLI) scheme with investments worth Rs 19,000 crore and an expected turnover of Rs 1.84 lakh crore in 5 years. It hopes to accelerate India’s textile exports to $100 billion and create 2.4 lakh new jobs during the period.

In a recent meeting with Harsh Vardhan Shringla, Foreign Secretary, India, Faruque Hassan, President, BGMEA requested expedition of trade activities between the two countries by removing non-trade barriers and simplifying export-import procedures through the land ports. Hassan said, both India and Bangladesh can complement each other, particularly in textile and apparel growth. India can export man-made fibres, yarn, fabric, chemicals, machinery, dyes etc to Bangladesh. On other hand, it can export readymade garments from Bangladesh.

One of the largest trade associations in the country, BGMEA promotes and facilitates the apparel industry through policy advocacy to the government, services to members, ensuring workers’ rights and social compliance at factories. The association collaborates with local and international stakeholders, including brands and development partners to pave the way for development of Bangladesh apparel industry.

Domestic weekend-wear brand Harbour 9 has launched a wide range of women's apparels. The range will help the brand tap India’s women’s wear market and penetrate deeper into the segment. The brand manufactures clothes completely in India, from sourcing materials to the final product through their eco-friendly practices.

The newly launched women’s range will be available on the brand’s website and other e-commerce platforms. A premium weekend-wear brand, Harbour 9 strives to find the perfect balance between dressed up and dressed down. Its curated collection is designed to transport customers to a world of fun and ultimate relaxation.

An ethically compliant brand, Harbour 9 aims to reduce the negative impact on people, animals, and the planet. The brand follows all labor laws ensuring good working conditions, fair wages, suitable working environment, and job security for all employees.