The Southern Gujarat Chamber of Commerce and Industry (SGCCI) hosted the Surat Start-Up Summit 2023 from October 27th to 29th at the Surat International Exhibition and Convention Centre. The three-day event aimed to strengthen the start-up ecosystem in Surat and inspire entrepreneurs.

Over 55 start-ups from Surat, Ahmedabad, and Vadodara showcased their creative ideas at the summit. The event also featured a roadshow for the Gujarat Vibrant Start-up Summit, scheduled for December 2023.

The summit witnessed the participation of 50 venture capital managers from across the country, who interacted with start-ups and entrepreneurs. Unicorns also joined the event and led sessions on technology and artificial intelligence.

The Surat Start-Up Summit 2023 envisioned making Surat, a major manufacturing centre in South Gujarat, a financial hub for start-ups as well. Industrialists from all over the country showed interest in the summit and attended the event.

The Confederation of Indian Textile Industry (CITI) will host the 3rd Global Textiles Conclave (GTC'23) in Jaipur, India, from March 15-17, 2023. Themed "Strategies for Achieving a Sustainable and Profitable Textile Value Chain," the event will explore ways to reduce the environmental impact of the textile industry while maintaining profitability.

GTC'23 is expected to attract over 1,000 participants, including industry leaders, policymakers, and sustainability experts. 

The event will feature a variety of keynote speeches, panel discussions, and breakout sessions on topics such as circular fashion, sustainable design, green manufacturing, renewable energy, fair labor practices, ethical sourcing, waste management, pollution control, and emerging technologies for sustainability.

In addition to GTC'23, CITI will also present the 1st CITI Textile Sustainability Awards and the 1st India Textiles & Apparel Fair (ITAF). The awards will recognize outstanding contributions to sustainable textile production, while the trade show will showcase the latest products and innovations from the Indian textile and apparel industry.

Wazir Advisors’ monthly report that covers latest apparel consumption and import data of the US, EU, UK, and Japan along with exports data of India has just released its October 2023 edition. Highlighting global market scenario in August and September, the report shows US import market is not too strong with online sales of clothing and accessories registering only a nominal 1 per cent growth in Q2 of 2023 over Q2 2022.  Lower figures have also been recorded month-wise, with US apparel imports at $7.8 billion in August 2023, which is 25 per cent lower than August 2022. 

The UK markets have also seen lower figures as on year-to-date (YTD), with imports 14 per cent lower than 2022. Apparel import in August 2023 was around $1.8 billion, 10 per cent lower than last year. China’s share decreased 6 per cent in UK apparel market while Bangladesh has seen 2 per cent increase since 2021. EU’s apparel imports this year was $8.2 billion which is 23 per cent lower than August 2022, on YTD basis, imports were 10 per cent lower than 2022.

 Japan’s imports from Vietnam increase 

Japan’s apparel import, an important segment of the Wazir report revealed in August 2023, imports were $2.4 billion, 14 per cent lower than the same month last year on YTD basis. Imports were 2 per cent lower than in 2022. Moreover, China’s share decreased 7 per cent while Vietnam saw an increase of 2 per cent since 2021. Post-pandemic, other South East Asian countries like Vietnam and Bangladesh are trying to takeover some of the business from China in global import-export of apparels.

Apparel store sales higher in key global markets

However, in spite of lower imports, the monthly apparel store sales were slightly higher in the UK and US, both in online as well as offline markets over the last couple of months. The US monthly apparel store sales were around $18.2 billion in September 2023, clocking in 10 per cent rise from September2022.

Home furnishing store segment is under-performing with sales at around $4.7 billion in September 2023 which is 13 per cent lower than in September last year. On YTD basis, sales are around 4 per cent lower than last year. Online sales of clothing and accessories registered a nominal growth of 1 per cent in Q2 this year over Q2 2022.

Even in the UK, a nominal 2 per cent increase in September 2023 was noticed as compared to last September. On a YTD basis, sales were 8 per cent higher in 2023 as compared to 2022, with online segment doing rather well in Q2 2023 with a growth of 10 per cent as compared to Q2 2022.

India scenario

In the Indian apparel export market, Middle East countries share have decreased 5 per cent since 2021, while that of the US has increased 1 per cent. India’s apparel exports were estimated to be around $1 billion in September 2023, although on a YTD basis, exports are 14 per cent lower than 2022. Playing the role of a torchbearer for the textile and apparel Industry, the Wazir Advisors monthly report is much-awaited by analysts for its comprehensive global market overview.

The SEAMS Fall Conference was a great opportunity to learn about the entire textiles industry process in one place. 

We visited the Wilson College of Textiles and Cotton Incorporated at NC State University, where we saw how fibers become yarn and fabric. We also witnessed the amazing PyroMan™ in action at the Textile Protection and Comfort Center. This life-sized manikin tests the performance of thermal protective clothing, and the video of its capabilities was impressive, but seeing it live was truly awe-inspiring.

This was just the beginning of a rich and diverse conference, with captivating speakers and stories. We had in-depth discussions and presentations on a variety of topics, including circularity, trade, governance, production, and development. We also celebrated our history and the people who have shaped our industry. 

The conference covered everything from farming and fibers to the final product, and we welcomed a large group of international attendees.