TIRUPPUR KNITWEAR HUB
India's textile exports face second consecutive year of decline amid geopolitical strains
In the fiscal year 2023-24, exports amounted to $34.4 billion, marking a decline of over $1 billion (3%) compared to the previous fiscal year. Additionally, exports saw a significant drop of 16.3% compared to the fiscal year 2021-22, when the country reported exports worth $41 billion, the TOI report stated.
Fortune Park Hotels on expansion mode; opens sixth facility in Tamil Nadu
Fortune Park Hotels currently has a presence in five other locations in Tamil Nadu including Vellore, Ootacamund, Madurai, Chennai, and Hosur. "The Fortune Park Tiruppur is our sixth milestone in Tamil Nadu. It is exciting to continue our successful stride into tier II and III markets aptly capturing the allure of cities like Tiruppur.." said Fortune Hotels Managing Director Samir MC in a statement.
Apparel units suspend production amid decline in orders from global brands
More than 20% of apparel exporting units in Tiruppur and Noida have halted manufacturing operations due to a decline in orders from international brands caused by a global slowdown. Medium and small enterprises, in particular, are struggling to service bank loans. There are no significant orders for Christmas, but the industry hopes that orders will return by next spring-summer season, normally placed in September.
Apparel exporters in Tiruppur, Noida plan periodic shutdowns
About 80% units in Noida have a month's orders in hand, while in Tiruppur, orders have fallen 40-50% compared to the previous year. Tiruppur's exporters said global brands have not placed any major orders for this year's Christmas season. "We are now waiting for spring-summer orders for next year which are placed in September," said Raja Shanmugam, owner of knitwear firm Warsaw International
Spinning mills run on all days in India's knitwear hub Tiruppur as Jan growth brings hopes of post-pandemic revival
Knitwear exports from Tiruppur in USD terms grew 1.5 per cent at USD 413 million (in January 2023) while overall knitwear exports from the country grew by 0.9 per cent at USD 751 million in December 2022 as against USD 744 million in January 2022. Europe and the US account for the majority of the export orders.
India’s textile industry in dire straits as raw cotton export fuels apparel factories in Bangladesh, Vietnam
India is the largest producer of cotton in the world, but does not have enough for the domestic textile industry. So where exactly has all the country’s cotton and cotton yarn gone? And why?
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How states like Bihar and Odisha can leverage Covid into an opportunity
With the right moves, the likes of Bihar and Odisha can leverage the Covid crisis into an opportunity.
View: What ghost cities tell us about India's economy
In India, deindustrialisation & lack of manufacturing is majorly responsible for the ghost city phenomenon.
What does India want on July 5? Here's a ground report from 8 places that matter
ET visited eight industrial hubs across India, spanning several sectors, to find out what businesses want.
Tiruppur knitwear exports fall about 8% in 2017 -18
This is the first time in the past five years that knitwear exports from Tiruppur have declined. In 2016-17, the exports at Rs 26,000 crore, had shown around 13% increase over the previous year.
GST has created 'Frankenstein monster' in bureaucracy: Shashi Tharoor
"We had one nation, one tax model. We did not have any idea that BJP will come with six different rates," Congress MP Shashi Tharoor said.
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