Latest news with #ConfederationofIndianTextileIndustry
The Hindu
6 days ago
- Business
- The Hindu
CITI calls for suggestions from MSME textile units on measures to alleviate the financial stress they face
The Confederation of Indian Textile Industry (CITI) has sought suggestions from the textile industry, especially those in the Micro, Small and Medium-scale (MSME) segment, on measures required to reduce the financial stress the units face. The Ministry of Textiles has done a detailed study on the credit access issues of the textile sector and the Textiles Secretary recently held a roundtable discussion on 'Credit Access Issues in the Textile Sector' to explore the potential solutions in consultation with industry, financial and policy institutions. It was pointed out at the meeting that the working capital needs for the textile industry are not captured well by the banks. The bank should understand better the long payment cycle, job work requirement, etc., and the other nuances of the textile industry and ensure that the industry has better access to bank credit. The risk perception in the textile industry is said to be another major deterrent, given the present rating systems, which are not textile centric. The Secretary sought suggestions from the stakeholders for a textile specific credit rating protocol. There are separate funds for various financing needs for sustainable production, like the energy efficiency fund, the water management fund, etc. There should be a consolidated 'Green Fund' for such investments in the textile sector. The stakeholders suggested that there should be a mechanism to monitor and ensure the industry has access to the Credit Guarantee Fund for Micro and Small Enterprises (CGTMSE) system. The industry reported problems in accessing and low utilisation of the fund. There should also be cluster-level credit facilitation centres. The industry can submit more suggestions so that the MSME units have better access to funds, the Confederation said.
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Business Standard
16-07-2025
- Business
- Business Standard
Tiruppur's garment exports increase 12% in Q1 FY26 to ₹12,193 crore
India's knitwear hub Tiruppur has clocked an 11.7 per cent growth in ready-made garment (RMG) exports during the first quarter of financial year 2025–26. Based on available data, Tiruppur's RMG exports reached Rs 12,193 crore in the April–June 2025 period, compared with Rs 10,919 crore during the same period in the previous financial year (2024–25), posting a growth of 11.7 per cent. This comes at a time when Indian textiles exports registered a degrowth of 0.94 per cent over the previous year. However, apparel exports recorded a growth of 8.91 per cent during the same period, according to data shared by the Confederation of Indian Textile Industry (CITI). Cumulative exports of textiles and apparel during April–June 2025 registered a growth of 3.37 per cent compared with the same period in 2024. A Sakthivel, vice-chairman, Apparel Export Promotion Council (AEPC), expressed satisfaction that Tiruppur's RMG exports recorded robust growth during the first quarter of FY26. He said this reflects the sector's continued recovery and its growth trajectory. 'This signifies a positive sign of consistent performance amid global economic challenges and fluctuating demand. Such steady growth highlights India's sustained competitiveness in the global apparel market,' he said. He also stated that with focused efforts such as policy advocacy, market intelligence, and capacity-building initiatives, the growth of Tiruppur's apparel exports is expected to continue in the future.
The Hindu
09-07-2025
- Business
- The Hindu
U.S. tariffs: Indian textile exporters on wait and watch mode
The Indian textile industry is on a wait and watch mode regarding U.S. tariff announcements. Between January and May this year, the U.S. imported textiles and apparel worth $5.11 billion from India, which is 13% more than the exports for the same period last year. 'We are actively tracking the progress of the latest tariff-related announcements, including their impact on specific sectors, since they concern many countries which are our competitors in the textile and apparel export arena,' said the Confederation of Indian Textile Industry chairman Rakesh Mehra. 'The initial signs in this connection augur well for Indian textile and apparel exporters in terms of being able to expand their access in the U.S. as they would now become more price competitive relative to those from other countries,' he added. The U.S. has imposed a 35% tariff on exports from Bangladesh. The industry is confident that a mini trade deal between India and the U.S. would be in place soon, the confederation said.
Fibre2Fashion
09-07-2025
- Business
- Fibre2Fashion
CITI monitoring US tariffs, early outlook positive for India
The Confederation of Indian Textile Industry (CITI) is closely monitoring the new US tariff announcements to determine their possible implication for India's textile and apparel exports to the United States. CITI is monitoring new US tariffs, which may boost India's textile and apparel exports by enhancing price competitiveness. US imports from India rose to $5.11 billion during Janâ€'May 2025. CITI sees promise in a mini US-India trade deal, which could drive job creation and help reach $100 billion exports by 2030, aided by improved ease of doing business. The US is India's biggest market for textile and apparel exports. During January-May 2025, US imports of textile and apparel from India were valued at $5.11 billion, a rise of more than 13% compared to the same period last year when the figure stood at $4.51 billion. 'We are actively tracking the progress of the latest tariff-related announcements, including their impact on specific sectors, since they concern many countries which are our competitors in the textile and apparel export arena,' CITI Chairman Shri Rakesh Mehra said. 'The initial signs in this connection augur well for Indian T&A exporters in terms of being able to expand their access in the US as they would now become more price competitive relative to those from other countries,' Shri Mehra added. The US has imposed a 35% tariff on exports from Bangladesh. During January-May 2025, US imports of textile and apparel from Bangladesh stood at $3.64 billion, a more than 20% increase compared to $3.03 billion recorded in January-May 2024. Shri Mehra said CITI is confident that a mini trade deal between India and the US would be in place soon. 'As far as the possible mini trade deal with the US is concerned, CITI feels such a pact can transform the fortunes of India's textile sector and can contribute significantly to India being able to achieve textiles and apparel exports of $100 billion by 2030,' Shri Mehra said. 'The demand creation for Indian companies because of a trade pact with the US can also lead to the generation of more jobs and livelihood opportunities in India which, by itself, will be a significant benefit for local youths,' Shri Mehra pointed out. Shri Mehra said recent steps being taken by the authorities to improve the ease of doing business, including those on the logistics front, will help Indian exporters take better advantage of the opportunities opening following the trade deals. 'We look forward to working closely with the authorities for an increase in India's share in global T&A exports,' Shri Mehra added. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (HU)
The Hindu
08-07-2025
- Business
- The Hindu
Indian MMF sector should tap the potential in 'affordable synthetic fashion', says study
The rising mid-income populations across Africa, South East Asia, and Latin America has led to a growth in demand for performance-driven, climate-adapted, and cost-sensitive apparel that the Indian manmade fibre (MMF) sector can tap, according to a knowledge paper released recently by the Confederation of Indian Textile Industry (CITI) and Wazir Advisors. The study, which highlights the white spaces in the global MMF economy where India can build first-mover advantage or regional dominance, said one such area is affordable synthetic fashion, especially for the global south. Most of the global MMF suppliers are currently geared towards premium western brands. The Indian textile industry can develop and export lightweight synthetic hijabs, wrinkle-free uniforms, and weather-resistant workwear. The study also underlines the need to prioritise expansion and modernisation of India's downstream MMF capabilities. While the country has established a strong base in polyester staple fibre and filament yarn production, its capacity to weave value-added fabrics and garments is limited. Strategic investments are required to expand the capabilities across MMF fabric processing and apparel manufacturing. There is also for vertically integrated MMF apparel clusters equipped with common infrastructure. Compared to countries such as China and Vietnam, India lacks synthetic-focused garmenting units that can serve volume orders with global quality standards. Infrastructure-led schemes such as PM MITRA Parks must prioritise plug-and-play facilities for MMF apparel, coupled with incentive structures to attract large domestic and international investments in synthetic garment production, the knowledge paper said. The government policies must support raw material security, ensuring that quality inputs are available at competitive prices, it said.
