SYNTHETIC TEXTILE EXPORTS
Brands by scions attract VC money; Ola Electric layoffs
Happy Monday! A new wave of brands founded by second generation entrepreneurs is snagging venture capital. This and more in today’s packed edition of ETtech Morning Dispatch.
Stock picks of the week: 4 stocks with consistent score improvement and upside potential of up to 35%
While today the movement of the Nifty and Sense will make a number of people think that a correction is taking place in the market. The fact is that the market has been correcting for some time. If one looks at the trend in the advance decline ratio, on the day market is shedding weight, then the advance decline is very negative and even on the day nifty is moving upward, the improvement in the advance decline ratio is not that high. At this point of time, one cannot rule out more profit booking which can bring more damage to stock prices in the mid-cap segment. In such times, if one is taking fresh exposure to equity, ensure that there is some level of quality as far as the business and fundamentals are concerned. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.
Gaps in textiles value chain which global expo, Bharat Tex Expo 2024, seeks to address
India presents a unique strength in the Textiles and Garment sector with a complete value chain from fibre to garments and being the second largest cotton producing country in the world after the US.
Shoe is on the other foot: India slips in footwear exports as Bangladesh gets a firm footing
India has made a mark in the leather footwear segment, but customer preference is now shifting towards non-leather shoes, and Bangladesh is steadily marching ahead in this new world.
Bharat Park to be set up in UAE: Piyush Goyal
Expressing concern on Free Trade Agreements (FTAs) with Japan, Australia, UAE, and South Korea, the minister said that utilisation of benefits are very poor in India. He also said that Bureau of Indian Standards (BIS) will spend Rs. 40 crore for setting up 21 testing laboratories across the country.
Synthetic textile industry seeks higher duty drawback, duty remission to tide over Red Sea crisis
Red sea is one of the busiest trade routes that connects Europe and Asia through the Suez Canal and for the last few days, cargo ships passing through the Red Sea are being attacked by militants.
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Manmade fibre textiles exports to rise 75% by 2030: Textile industry
“Technical textiles is a sunrise sector and the future of this industry,” said a government official, adding that ambitious targets have been set for it.
Man-made fibre industry is thriving in India, but why isn’t it ready to challenge China?
Despite being a significant player in the textiles and apparel industry, India has been unable to make a sizable mark in a subsegment — man-made fibres.
Weaving profitability in new global order: 4 stocks from textile sector with upside potential of up to 45%
There are sectors which under perform for years and then they come back to focus. Thanks to the fact that the textile industry was completely dominated by China and other countries, the Indian textile industry has been in bad shape for decades. However, post covid, partially due to China Plus one narrative. Secondly due to the fact that the government has been focusing on manufacturing, textile stocks have come into focus. This list is drawn from Stock Reports Plus, powered by Refinitiv, with over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum.
Exporters of home textiles & furnishings worried about orders, margins getting hit
The recent attack by Hamas on Israel has raised concerns among Indian exporters of home textiles and furnishings. They fear that their orders may be deferred and their profit margins may be affected. While Israel is a small market, exporters have been enjoying higher margins of 10-15% compared to the US due to Israel's preference for cotton textiles over synthetic ones, resulting in limited competition from China.
$50-billion in apparel exports: Why India needs to diversify to markets like Japan
Japan is the world's fourth largest garment importer, thus making it an obvious choice for India to look at other than the EU and the US.
How to drive textile exports through improved quality control
With aspirations of becoming a global powerhouse, India has set an ambitious goal of achieving USD 100 billion in textile exports by 2030.
India’s exporting more phones and cars, while jewellery and textiles take a backseat; Is this a temporary change or a permanent feature?
India's merchandise exports have experienced a significant shift, with growth in sectors such as electronics, telecom, mobile phones, machinery, automobiles, and petroleum, while traditional export items like gems, jewelry, apparel, meat, and leather have declined. The share of electronics exports rose by 73% from 2015 to 2022, while machinery exports grew by 40%. However, India's overall share in global merchandise exports remains low, signaling the need for more trade agreements and investment in sectors like jewelry and textiles.
Synthetic & rayon industry delegation to visit US to push technical textile exports
“We will be very soon be taking a delegation from India to the US and meeting top American Companies to increase exports of Manmade fibre textiles and technical textiles,” said SRTEPC chairman Bhadresh Dodhia.
Exporters see 11-13% growth in FY24
Exporters expect a growth of 11-13% in FY24. Cotton textile and apparel exporters expect 8-10% on-year growth in FY24. India clocked $450 billion exports in FY23. Exporters expect business to resume fully after July, pinning their optimism on recovery in the advanced markets and improved order book.
Will cross $750 billion exports soon: Piyush Goyal
“Data till February shows that we will cross $750 billion of exports in a few days… Both merchandise and services are growing. Services are growing faster,” Goyal said at an event organised by the Synthetic & Rayon Textiles Export Promotion Council (SRTEPC) in Mumbai.
China’s grip on the textile market is slipping. Can India pocket a sizeable chunk of $1-trillion global trade?
The government has set a target of $100 billion in textile exports by 2030. But in the midst of global factors that threaten economic revival, how can textile exporters up their game to garner a larger chunk of the global exports pie?
Textile firms in China and Pakistan are in deep distress. Can India be the beneficiary?
The Indian textile and apparel market is looking at an unlikely and short-lived opportunity to gain global dominance. It remains to be seen if the stakeholders can come together and do what is required.
High inflation impact: US, European buyers look for cheaper goods
Shoes and bags made of synthetic leather are increasingly replacing items of natural leather in export orders for Indian suppliers, as they are as much as 35% cheaper than the original.
Cotton rally squeezes Asian garment makers, threatens recovery from COVID
In India, world's top cotton producer, several small apparel makers are struggling to fulfil orders from three months ago, when cotton prices were around a third less than current levels.
Pocketing even 1% market share from China means India gets a $10-billion opportunity in textiles, says industry
China-plus-one has created a growth window for the Indian textiles segment, and the PLI Scheme can give the sector a boost. There might not be a more opportune time for the industry to seize an opportunity to grow quickly and counter rising competition from Vietnam and Bangladesh.
‘Completely unjustifiable’ GST rate hike on apparel, textiles and footwear show the Govt has no easy choices
The Government wanted to correct a tax anomaly, but in the process the apparel, textiles and footwear sectors believe the move would lead to a significant hike in their cost of production.
China’s electricity crunch is world’s latest supply-chain threat
Local governments are ordering the power cuts as they try to avoid missing targets for reducing energy and emissions intensity, while some are facing an actual lack of electricity.
A 2-lakh crore scheme is propelling some factories into overdrive. A little tweak can make it go full swing
The PLI scheme incentivises companies to make in India. Manufacturers have the added benefit of tapping a vast domestic market as well as exporting. But a few changes to the policy can really help unleash animal spirits.
Textile stocks on a high; what's really driving them?
Stocks such as KPR Mills, Gokaldas Exports, Lux Industries, Indo Rama Synthetics, Nitin Spinners, Filatex India, Dollar Industries and Welspun India have rallied between 30% and 70% in the last three months.
A stitch in time? Why the Govt needs to iron out the issues in PLI scheme for textiles
Textile sector has been identified as thrust the sector amongst the selected 13 sectors for which the Production Linked Incentive scheme (PLI) scheme has been proposed by the government of India.
View: Can India regain its textile glory? Here're the right answers
Here's how India can reverse the slide in apparel exports and ride a high growth path.
Surat textile exporters stop business with Pakistan
The two biggest fabric markets in Pakistan are dependent on exports from India's textile hub Surat.
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