For the second quarter Welspun’s consolidated net profit fell by 95 per cent.

This was mainly due to high input costs. Revenue from operations slipped 15 per cent during the quarter. The company’s total expenses in the quarter fell four per cent.

Welspun India manufactures a range of home textile products ranging from towels, bathrobes, bath rugs and carpets, mats, area rugs, carpets, bedsheets, utility bedding and fashion bedding. The company is also engaged in the generation of power.

Welspun aims at being carbon and water neutral by 2030 and united in its efforts in safeguarding the environment and communities at large.The company’s strategic efforts are to integrate ESG drivers and adopt a circular approach in all aspects of its operations.

Welspun India was selected as one of the world’s leading companies for sustainability by the Dow Jones Sustainability Index. It was featured in the index due to strong environmental performance as well as significant improvement in its social and governance impact parameters. Welspun India’s ESG Score stood at 48, which was over 62 per cent higher than the average industry score. Additionally, with a score of 45, the entity’s environmental dimension scores were 75 per cent higher than the industry average, while the social dimension score, at 50, was 54 per cent higher than the industry average.

Synthetic clothing accounts for more than a third of primary microplastic release to the world’s oceans. Textiles are the fourth largest cause of environmental harm after food, housing, and transport.

Between 2000 and 2014, global clothing production more than doubled. People are buying more clothes than ever before and throwing them away even faster. This problem of overconsumption is fueled by a surge in production of cheap, fossil fuel-based textiles. Fossil fuel-based fibers, such as polyester, recycled polyester and nylon, now make up more than 60 per cent of global fiber production and this is expected to continue growing rapidly.

When fewer and better products are produced, it will be possible to use these for longer, and circular textile models such as repair, rental, reuse and recycling will become viable.

The EU wants to promote a more sustainable textiles industry and has a strategy for sustainable and circular textiles. However the Product Environmental Footprint methodology is out of date. It doesn’t include indicators for microplastic pollution, plastic waste and circularity that are critical for the EU if it wants to achieve its goals.

Failing to include these indicators targeted at fast fashion will give brands license to greenwash, guiding well-intended consumers to unintentionally purchase more, rather than less, fossil fuel-based, fast fashion products.

Texprocil in collaboration with Control Union has devised a General Certificate of Conformity program to promote exports of Indian grown cotton.

Control Union is a certification body. The initiative will help gain the trust of export buyers by providing traceability of Indian cotton up to the farm level.

Traceability is an important subject for the textile fraternity all over the world.Traceability helps consumers trace the lifecycle of a product starting from sourcing the raw materials to manufacturing, disposing and finally the recycling of the same. Transparency and traceability will play a major role in the years to come for the Indian textile industry to scaleup its capabilities and cater to global brands in an effective manner. Traceability has gained huge importance in the recent past in the backdrop of consumers becoming more conscious about the products they purchase from renowned brands at premium prices.

Yarn traders and exporters are concerned about the presence of the original gene of Xinjiang’s banned cotton in garments exported to the US from India. The fairness of the practices needs to be ensured as consumers are now judging garments on traceability.European Union and the US are planning to come up with certain legislations which will prevent entry of cotton from certain regions like Turkmenistan and Xinjiang. It will provide more powers to enforcement authorities.

For the second quarter KPR Mill’s net profit fell by 16 per cent. Total income rose by one per cent. For the first half of the year the company’s garment production was up 13 per cent and revenue was up 31per cent.

KPR, based in Coimbatore, is a vertically integrated textile company which exports a variety of products in knitwear and also has a domestic innerwear brand Faso. The company is known for its quality products and CSR initiatives.

KRP Mill’s garment manufacturing capacity has increased to 157 million garments a year. Strategic plans have always been driving the growth of KPR, which is one of the largest captive power generators in the textile industry and 60 per cent of its textile power requirement is met through wind power. The company has invested in a co-gen power project. With co-gen power, KPR has attained self-sufficiency in meeting its substantial power requirement throughout the year. Normally the company keeps a cotton stock of around four to six months and buys cotton at the start of the season. KPR Mill has increased its total garment manufacturing capacity to 157 million garments a year and has opened a garment unit in Ethiopia.

Reliance Industries will use FRX Innovations’ Nofia technology to enhance the sustainable edge of its well-established Recron FS fire-resistant polyester for polyester textile applications. FRX Innovations is an American company offering eco-friendly flame retardant solutions.

Reliance produces polyester staple fibers and filament yarns. Nofia retains a distinctive polymeric phosphorus-based chemistry. Nofia additives are certified by Oeko-Tex Standard 100 for textile applications and other sustainability certifications accrediting that the technology meets these global standards of safety and sustainability.

Recron FS is manufactured at Reliance’s state-of-the-art facilities and Reliance is committed to deliver exceptional fire safety without compromising health, environment and aesthetics. Recron FS is a part of Reliance’s extensive R&D achievements in attaining its commitment to launch new products that are completely sustainable throughout their lifecycle and responsibly using natural resources. Nofia polymeric phosphorus additives deliver improved tenacity. Nofia is the only flame-retardant technology that allows the use of recycled polyester as a feedstock to contents above 60 per cent with the capability of reaching above 90 per cent. This ability to use it with recycled polyester makes it a sustainable technology. The new technology also enables adjustable flame retardancy from levels of 7,000 ppm to 25,000 ppm of phosphorus, depending on end-user needs.

Asean Week will be held in South Korea, November 10 to 13, 2022.

This is an annual cultural event exploring the histories and cultures of the Asean countries Brunei, Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam and South Korea and is aimed at promoting economic, social and cultural cooperation among them.

Asean Week was first launched in June 2019. Textiles and fabric products from Asean member states will be on display at the exhibition, along with introductions to their places of origin as travel destinations and stories related to the fabrics.

The fabrics have been created by master artisans using traditional weaving methods that have been passed down through generations. PuaKumbu from Malaysia will feature spiral patterns and intricate hooks which took a year to complete. Lanh My A silk of Vietnam is made by weaving the finest silk threads colored with dyes made from the mac nua fruit. The textile is often used by Vietnamese fashion designer Nguyen Cong Tri, whose designs have been worn by several celebrities including K-pop star Rose of Blackpink, Margot Robbie and Beyonce.

The event aims at enhancing an understanding and awareness of Asean culture and tourism and providing an opportunity to appreciate the uniqueness which derives from diversity.

Gokaldas Exports is building three new manufacturing facilities. These will be in Madhya Pradesh, Tamil Nadu, and Bangladesh. The new facilities will add an extra five million pieces annually to the company’s existing yearly production capacity of 30 million pieces.

Currently, Gokaldas operates 19 manufacturing units. The Madhya Pradesh facility spread over ten acres is being developed in two phases. By the end of fiscal 2024, the company would open its first international factory which would in Bangladesh to produce readymade garments.

Gokaldas is investing Rs100 crores in the construction of a fabric processing facility in Tamil Nadu. The facility would manufacture 20 tons of fabric a day.

Gokaldas Exports is an apparel manufacturer and exporter. The company has improved its bottom line from incurring a loss to a profit and has grown substantially over the last five or six years. The emphasis on operational improvements and the increased focus on value-added pricing have helped Gokaldas gain better realisation from customers.

With all these factors, it has been able to deliver better bottom lines. In fiscal year 2022, the company generated revenues of Rs1,801 crores and expects to have a 25 per cent growth in revenues in fiscal year 2023.

Sri Lanka’s garment exports may fall by at least 30 per cent in the next four months. Some of the orders received by Sri Lanka have been transferred to countries like Bangladesh, Cambodia, Laos, Myanmar, Vietnam and Ethiopia due to the political and economic instability prevailing in the country.

Inflation in many other countries, including the United States, has also led to the reduction of orders.The demand for Sri Lankan garments has also fallen due to the Russian-Ukrainian war, disruption of Russian gas supply, rising fuel prices and inflation in European countries.

Sri Lanka’s main garment export destinations are the United States of America, the European Union and England.

Sri Lanka is attempting to finalise free trade agreements with countries like China, India, Japan and Australia. These are expected to help boost exports and strengthen the industry’s resilience.August 2022 saw a 20 per cent increase in export turnover generated by the apparel sector but at present Sri Lanka is not competing on a level playing field. Its main competitor countries like Bangladesh, Vietnam and some African nations have duty concessions in global markets, which it does not have.Sri Lanka’s only concessions are for the UK and the EU markets, and those come coupled with a variety of strict conditions pertaining to the origin of raw materials.

For the second quarter Arvind’s consolidated net profit rose by 79 per cent. Revenue from operations was up two per cent compared to the corresponding period of the previous fiscal.Profit After Tax from continuing business and before the exceptional item was Rs 85 crores.

Accounting for one-time items, PAT was Rs 125 crores. Arvind had a gain of Rs 40.52 crores from exceptional items, which includes profit on the sale of a subsidiary and provision from the value of land in Gujarat. Total expenses were up three per cent. Revenue from textiles was up one per cent.

Overall, textile revenues grew by three per cent as woven and knits volumes held steady. Higher price realisation helped hold unit margins, though it suffered in percentage terms. Revenue from Advance Materials rose five per cent in the second quarter though on a first half basis revenues were up 21 per cent as many orders has spilled over from quarter one to quarter two in the previous year.

Leading textile manufacturer Arvind offers the widest array of textiles and fashion brands in India. The bouquet of brands – both homegrown and global – straddles lifestyles, categories and price points. International fashion brands wanting to enter India are keen to partner with Arvind.

Textile exporters in Pakistan are awaiting sales tax refunds. They say the delay in refunds has disrupted their business activities and future plans and is badly impacting exports as exporters’ liquidity has already taken a strong hit from negative impacts of the global recession.

There is a fear that textile exports in November might fall. Achieving export targets, say the exporters, is only possible if the government continues its favourable policies towards the industry.

Pakistan’s textile industry, which comprises 46 per cent of the total manufacturing sector, provides employment to around 15 million Pakistanis and contributes 8.5 per cent to the GDP.

Regionally competitive electricity tariffs have enabled the textile sector to perform exceptionally well during recent years. The textile export industry has entered a sustainable economic growth phase; however, the emergence of an economic crisis could be an instant setback.

Exporters say there is a strong but not accurate perception that the government is providing too many subsidizes to the textile sector in terms of energy prices and tax exemptions on imports of raw material. They say the subsidised advances to the textile sector are less than what the government owes to the sector under various refund schemes and that the sector is also paying the cost of this stuck-up working capital.