India's economy greatly depends on the textile and apparel sector. It accounts for 1.4% of India's GDP overall and more than 10% of its manufacturing output.
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Snitch, a fast-rising menswear brand recognized for its quick-to-market styles and strong Gen Z following, has unveiled a strategic collaboration with ClickPost—a logistics intelligence platform that enables brands to streamline their shipping operations and automate post-purchase logistics across channels.
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Union Minister of State for External Affairs and Textiles, Pabitra Margherita, emphasised that the man-made fibre (MMF) segment will be central to India’s efforts to scale textile and apparel exports to US $ 100 billion by the year 2030.
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The Cedaar Textile IPO opened for subscription on 30th June, aiming to raise Rs. 60.90 crore (US $ 7.11 million). The IPO for Silky Overseas opened on the 30th of June and is aiming to raise Rs. 30.68 crore (US $ 3.58 million). Marc Loire Fashions opened its IPO on the 30th June, aiming to raise around Rs. 21 crore (US $ 2.45 million).
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A recent police raid in the manufacturing units of Bengaluru led to the seizing of fake copies of brands including Ralph Lauren and Nike among others. The items seized were worth Rs 30 lakhs.
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At an event organised by CITI and ITMA, the leaders and key representatives from Ludhiana's textile industry talked about issues including lack of innovation and women workforce, and shortage of subsidies in the effluent treatment equipment among others.
