Business News

In a bid to combat the limitations posed by their earlier SOLOTEX fibre, Teijin Group launched its new fabric that has 3D crimp structure and focuses on sustainable plant-based materials and recycled polyester.

Fantail, a business-to-business textile startup based out of India, has secured US $ 1.65 million in seed funding to extend its operations into the man-made fibre space in Surat. Fantail’s mission is to transform the fragmented textile supply chain in the region and looks to achieve this through infrastructure improvements and deeper integration within the supply chain.

Aditya Birla Lifestyle Brands has outlined a plan to invest Rs. 300 crore each year over the next five years as it looks to double its revenue and significantly broaden its retail presence.

Textiles and apparel may not fall under the category of critical goods, but up to 45 per cent of the sector’s trade value could be vulnerable to disruptions from evolving trade routes, according to a report by McKinsey & Company.

Projects of Rs. 28,546 crore (3.31 billion) were approved at the seventh State-Level Investment Promotion Board (SIPB) meeting. It is anticipated that the 19 projects that have been approved will create jobs for 30,270 people throughout the state.

In 2024, the United States imported US $ 3.36 trillion worth of products, while China and Germany imported US $ 2.59 trillion and US $ 1.43 trillion, respectively. However, just 2.7% of US imports came from India, with US $ 10.8 billion worth of apparel.