Grasim to concentrate on its viscose staple fibre business to register growth and expand its market in India

Related Keywords: domestic fiber business has grown by 22%, fiber, Grasim Industries, textile business, viscose, VSF business

Mumbai
Summary: 
Grasim’s managing director Dilip Gaur said that, “Viscose is eating out of other fiber markets. Our domestic fiber business has grown by 22% (annually) during the March 2018 quarter,” adding that the bulk of the growth in the textile business is expected to come from the company’s VSF business in the future.On a consolidated basis, Grasim Industries will invest more than Rs13, 327 crore in capex into its textile and cement businesses till financial year 2021.

Grasim’s managing director Dilip Gaur said that, “Viscose is eating out of other fiber markets. Our domestic fiber business has grown by 22% (annually) during the March 2018 quarter,” adding that the bulk of the growth in the textile business is expected to come from the company’s VSF business in the future.On a consolidated basis, Grasim Industries will invest more than Rs13, 327 crore in capex into its textile and cement businesses till financial year 2021.

https://www.livemint.com/Companies/bcRPa7DM6WJpcuoYmJxcdK/Grasim-Industries-Q4-net-profit-at-Rs-85362-crore.html
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Grasim sells Bhiwani textile unit to GBTL part of Donear Group

Related Keywords: Aditya Birla Group company, divesting its total investment, entered into definitive agreement, GBTL, Grasim Bhiwani Textiles, Grasim Industries, manufacturing and marketing of polyester-viscose Fabric, part of Mumbai based Donear Group, Rajendra Synthetics Private Limited, textile business

Mumbai
Grasim sells Bhiwani textile unit to GBTL part of Donear Group
Summary: 
Grasim Industries, an Aditya Birla Group company, has entered into definitive agreement for divesting its total investment in Grasim Bhiwani Textiles ( GBTL) to Rajendra Synthetics Private Limited, part of Mumbai based Donear Group.

Grasim Industries, an Aditya Birla Group company, has entered into definitive agreement for divesting its total investment in Grasim Bhiwani Textiles ( GBTL) to Rajendra Synthetics Private Limited, part of Mumbai based Donear Group.

http://www.thehindubusinessline.com/companies/grasim-ind-divests-grasim-bhiwani-textiles-to-donear-group/article9757897.ece
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Textile business not going to be adversely affected with GST roll out

Related Keywords: an embedded tax of central excise duties, Goods and Services Tax, GST, Manohar Lal Khattar, not going to adversely affect, not going to put additional burden on textile, slab of 5 percent tax placed on textile, textile business, the CM of Haryana, VAT on cotton yarn

New Delhi
Textile business not going to be adversely affected with GST roll out
Summary: 
The Goods and Services Tax (GST) is not going to adversely affect the textile business. As presently, there is an embedded tax of central excise duties of 3.38% and 2.8% of VAT on cotton yarn, therefore, the slab of 5% tax placed on textile is not going to put additional burden on textile, said Manohar Lal Khattar, the CM of Haryana.

The Goods and Services Tax (GST) is not going to adversely affect the textile business. As presently, there is an embedded tax of central excise duties of 3.38% and 2.8% of VAT on cotton yarn, therefore, the slab of 5% tax placed on textile is not going to put additional burden on textile, said Manohar Lal Khattar, the CM of Haryana.

Moreover, the cascading effect would be mitigated with the event of the GST and the net effective tax on fabric would be minimal, he said at a seminar on GST for members of Legislative Assembly and officials in Haryana.

https://www.thedollarbusiness.com/news/gst-not-going-to-affect-textile-business-haryana-cm/50628
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TEA urge Centre for adequate infrastructure facilities at textile clusters

Related Keywords: design studio, finance minister Arun Jaitley, incubation centre, infrastructure facilities, knitwear exports, knitwear sector, pre-budget memorandum, Research and Development Centre, Silk Board or Coir Board, skilled labour, TEA, Technical textile, textile business, textile clusters, Tirupur Exporters Association

Coimbatore
TEA urge Centre for adequate infrastructure facilities at textile clusters
Summary: 
Tirupur Exporters' Association (TEA) In its pre-budget memorandum submitted to the Finance Minister Arun Jaitley, has urged the Centre to provide adequate infrastructure facilities such as world class design studio, Research and Development Centre and incubation centre for technical textile that will empower successful textile clusters.

Tirupur Exporters' Association (TEA) In its pre-budget memorandum submitted to the Finance Minister Arun Jaitley, has urged the Centre to provide adequate infrastructure facilities such as world class design studio, Research and Development Centre and incubation centre for technical textile that will empower successful textile clusters.

These infrastructure facilities will facilitate rapid growth of not only the existing textile business, but also enable its foray into the niche segments creating quantum growth opportunities to the industry

http://economictimes.indiatimes.com/industry/cons-products/garments-/-textiles/budget-2017-exporters-seek-adequate-infrastructure-for-textile-sector/articleshow/55648902.cms
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Lambodhara signs lease pact to utilize spare capacity of Suriya Spinning

Related Keywords: conversion of fibre into yarn, deal to enhance spinning capacity of the company, entered into a lease agreement, Lambodhara Textiles, operates a yarn producting mill, set to commence from November, specializing in synthetic yarns, Suriya Spinning Mills Unit B and Sri Akkamma Textiles, textile business, utilize their spare capacity of spindles

Mumbai
Lambodhara signs lease pact to utilize spare capacity of Suriya Spinning
Summary: 
Lambodhara Textiles engaged in textile business operates a yarn producting mill specializing in synthetic yarns has entered into a lease agreement with Suriya Spinning Mills Unit B and Sri Akkamma Textiles to utilize their spare capacity of 3,024 spindles and 6,048 spindles respectively, for conversion of fibre into yarn.

Lambodhara Textiles engaged in textile business operates a yarn producting mill specializing in synthetic yarns has entered into a lease agreement with Suriya Spinning Mills Unit B and Sri Akkamma Textiles to utilize their spare capacity of 3,024 spindles and 6,048 spindles respectively, for conversion of fibre into yarn.

This deal will enhance the spinning capacity of the company and will have an impact on its overall performance. The conversion of fibre into yarn is set to commence from November.

http://www.thehindubusinessline.com/markets/stock-markets/lambodhara-textiles-enters-into-lease-pact-with-suriya-spinning/article9107995.ece
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INDIA ITME 2016 to be bigger and bolder this time

Related Keywords: global Textile machinery market, ITME 2016, manufacturers of textile machinery, technological innovations in textile, textile business, textile engineering, textile ministry of India

Mumbai
Summary: 
The 10th edition of India International Textile Machinery Exhibition 2016, the largest textile machinery and accessory exhibition in India is to be held from 3rd to 8th December 2016 at Bombay Exhibition Centre, Mumbai, India. Spread

The 10th edition of India International Textile Machinery Exhibition 2016, the largest textile machinery and accessory exhibition in India is to be held from 3rd to 8th December 2016 at Bombay Exhibition Centre, Mumbai, India. Spread over 1,50,000 sq. mtrs, with expected participation from 93 countries and strength of about 1000 exhibitors from across the globe in 17 chapters spanning the textile segment from raw material to finished products, India ITME 2016 is the focal event for the textile and textile engineering industry in India and in the neighboring region.

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Workshop on new textile policy 2013-18 of Karnataka govt held to create awareness

Related Keywords: advancement in handloom, attract investment, CEDOK, create five lakh jobs, offered by the new policy, on new textile policy of Karnataka state, one-day district-level workshop, people aware of benefits, research and development, textile business

Mangaluru
Workshop on new textile policy 2013-18 of Karnataka govt held to create awarenes
Summary: 
A one-day district-level workshop on the new textile policy 2013-18, of the Karnataka State government was organised by the Department of Handloom and Textiles, the Dakshina Kannada Zilla Panchayat, the Centre for Entrepreneurship Development of Karnataka (CEDOK) and the Lions’ Club, at the Lions’ Club Seva Mandir on Saturday to make people aware of the benefits offered by the government .

A one-day district-level workshop on the new textile policy 2013-18, of the Karnataka State government was organised by the Department of Handloom and Textiles, the Dakshina Kannada Zilla Panchayat, the Centre for Entrepreneurship Development of Karnataka (CEDOK) and the Lions’ Club, at the Lions’ Club Seva Mandir on Saturday to make people aware of the benefits offered by the government .

At the inauguration, the District In-charge Minister B Ramanath Rai said that public awareness is necessary to achieve advancement in the field of handloom and textile business.

http://www.deccanherald.com/content/498047/govt-targets-five-lakh-jobs.html
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Kano Markets in Nigeria under influx of Chinese traders

Related Keywords: biggest textile market in Africa, cheaper rates to customers, Chinese imported Ghalilar textile, Kano state, Kano State Dyers Association, Kantin Kwari textile market, second largest industrial center in Nigeria, textile business, unfair trading, white textile, witnessed influx of Chinese traders

Nigeria
Kano Markets in Nigeria under influx of Chinese traders
Summary: 
Kano State is the second largest industrial center in Nigeria but lately, markets in the state have witnessed influx of Chinese traders who sell their wares at cheaper rates to customers to the disadvantage of indigenous traders. The history of Kano market dates back to the people of Jega, who controlled the textile business in Kantin Kwari textile market, the biggest textile market in Africa made the government of their time to give them all the necessary support to boost their business activities.

Kano State is the second largest industrial center in Nigeria but lately, markets in the state have witnessed influx of Chinese traders who sell their wares at cheaper rates to customers to the disadvantage of indigenous traders. The history of Kano market dates back to the people of Jega, who controlled the textile business in Kantin Kwari textile market, the biggest textile market in Africa made the government of their time to give them all the necessary support to boost their business activities.

http://leadership.ng/features/446253/chinese-take-over-trade-in-kano-markets
0

RIL gets approval from CCI for joint venture in textile business with Chinese firm

Related Keywords: CCI approves, Chinese company, fabric for men's suiting, joint venture, Reliance Industries Ltd, textile business, trousers and shirting, Vimal brand, with Shandong Ruyi Science and Technology group, yarn

Mumbai
RIL gets approval from CCI for  joint venture  in textile business  with Chinese
Summary: 
Reliance Industries Ltd (RIL), India's largest private sector company, on Tuesday said it 'had entered into a definitive agreement for a joint venture in business with China's Shandong Ruyi Science and Technology Group (Ruyi).

Reliance Industries Ltd (RIL), India's largest private sector company, on Tuesday said it 'had entered into a definitive agreement for a joint venture in business with China's Shandong Ruyi Science and Technology Group (Ruyi).

According to the agreement, RIL will transfer its existing textile business under the Vimal brand into a newly incorporated company in which RIL will hold 51 per cent stake. The remaining 49 per cent stake will be sold to Ruyi.

http://www.business-standard.com/article/pti-stories/cci-approves-reliance-s-deal-with-chinese-co-for-textile-biz-115030500884_1.html
Company News
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Colombiatex wrap up with high level of business for Latin America

Related Keywords: apparel and textile industry, Colombiatex, foreign traders, Inexmoda, international fair, Latin America, major center of business opportunities, organizer of Colombiatex, textile business

Bogota
Colombiatex wrap up with high level of  business for Latin America
Summary: 
Colombiatex, a leading international fair for apparel and textile industry held in Medellin closes its doors with a high level of business for Latin America, estimated over 300 million dollars, stated the organizers of the exhibition. According to Inexmoda, organizer of Colombiatex, the fair is becoming a major center of business opportunities in the sector for Latin America.

Colombiatex, a leading international fair for apparel and textile industry held in Medellin closes its doors with a high level of business for Latin America, estimated over 300 million dollars, stated the organizers of the exhibition. According to Inexmoda, organizer of Colombiatex, the fair is becoming a major center of business opportunities in the sector for Latin America.

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