INDUSTRY UPDATES

India to organize world's largest virtual fair for textiles

Economic Times

The Indian government is planning a Textile India Fair featuring approximately 4,000–5,000 sellers and 25,000–30,000 buyers globally. Textiles Secretary Ravi Capoor announced this initiative at the GLOBIZ Global Textile & Home Furnishing Expo, organized by Ficci. Capoor emphasized that while India faces competition in the apparel sector, the home furnishings and textiles industry has significant growth potential, projecting exports could double within two years if properly developed.

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Masks, surgical gowns & export boost the prices of organic cotton

Economic Times

Organic cotton prices have increased by 8 per cent to 12 per cent in the past two months and may remain firm as buying by the domestic medical textile sector and the overseas market has picked up. Prices have increased to Rs 39,000 candy of 356/kg each, and by over 15 per cent to Rs 210 per kg for export quality 30 carded yarn. There is also demand from Bangladesh and Vietnam.

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How local communities in northeast are at the forefront of fight against coronavirus

Community Initiatives

Govindo Molsom, who works as a cook in Agartala, has not seen his family since March 23 when Tripura announced a lockdown. But the 36-year-old is not unduly worried as his family stays in a village called Kalagon Mausambari, some 50 km from the capital. The village is among the most protected places to be in this pandemic.

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Affordable rental housing complexes included in list of infrastructure sub sectors

Economic Times

New Delhi: The Centre has included affordable rental housing complexes in the harmonized list of infrastructure sub-sectors. The department of economic affairs under the ministry of finance issued a notification earlier this week to this effect.

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IITs to help textiles get back on track

Economic Times

India has begun working on continuity plans and ways to kickstart the economy once the country emerges from the shadows of the Covid-19 pandemic. The textiles ministry has roped in the prestigious Indian Institutes of Technology (IIT) to address both immediate and medium term action plans for the industry in the post-Covid situation.

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Textile players to witness substantial fall in topline, operating profits: India Ratings

India Ratings

Mumbai: The textile players are expected to record a substantial fall in their topline and operating profits due to weak export as well as domestic demand in the first half of the financial year, India Ratings and Research (Ind-Ra) said. The continued lockdown in April 2020 has impacted the entire textile industry and disrupted exports.

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