These factors have driven a sharp surge in demand for home improvement products over the past one year, and the demand momentum is expected to sustain during Q2-Q4 FY2022, continuing on the trend of the past three quarters. ICRA’s sample set of companies (comprising four large, listed players, accounting for ~35-40% share in India’s home textile exports) are projected to clock a robust double-digit growth of ~20-25% in FY2022. This follows a subdued 5% growth in revenues reported by the sample in FY2021, primarily due to ~40% Y-o-Y dent in performance in Q1 FY2021; the sample grew by~25% Y-o-Y during the rest of the year. It is noted that the sample had reported ~18% Y-o-Y decline in operating income in Q4 FY2020 as well, as the pandemic had started affecting the key countries of export. However, even after adjusting the base for the same, Indian home textile exporters are estimated to have reported a healthy growth of ~15-20% in the nine-month period ended March 2021.
Continue reading your story on the app
Continue reading your story in the magazine
Bullish growth prospects for Indian home textile exporters: ICRA
Riding high on pandemic-induced lifestyle changes stemming from heightened consciousness about hygiene and increased prevalence of stay-at-home options, Indian home textile exporters are set to register robust performance during FY2022.
Focus on Modernisation, Capacity Expansion and Value added products
Sutlej: Leadership through Transformation
Green fibre project to enhance global competitiveness
GANESHA ECOSPHERE expanding Recycled Polyester Staple Fibre capacity
The world is awakening to the pressing need to save the Mother Earth from drowning into the plastic pollution. People and countries across the globe are looking at alternatives to reduce the impact on the environment, and become more sustainable and greener.
WEAVERS IN POLE POSITION 2FAST accelerates performance with speed, quality and versatility
Speed by name and speed in performance…the brand new 2FAST rapier weaving machine from SMIT is built for ultimate productivity. Its compact design combines maximum output rates with quality and versatility. Made in Italy, it echoes the country’s traditions of speed in motorsports, with competitive performance that is also environmentally kind.
TWINE SOLUTIONS Spearheading a revolution
A technology start-up that has developed a proprietary and revolutionary digital on-demand thread dyeing system and a digital dye-to-match colour application, Twine Solutions now has a partner in India to explore the growing textile industry even as it continues to develop new products and solutions for its global outreach strategy
KUSTERS CALICO completes 25 years of Indian operations
Creates new benchmarks in the processing and finishing technology
Quality, efficiency and good service - this is what makes BRÜCKNER successful in Turkey
The Turkish family-owned company ARIKAN Mensucat Industry and Trade Inc. was founded in 1993 and is located in Kahramanmaras, one of the southernmost cities of the country.
NESTLING TECHNOLOGIES' i-Spin, a game changer in the spindle monitoring segment
‘i-Spin’ spindle monitoring system now gets added to Nestling Technologies’ portfolio. As such, a variety of analysis such as the whole year performance of the ring frame, lot-wise performance, etc. is now available instantly, which can be viewed from anywhere across the globe.
Trützschler establishes the Trützschler Foundation
The Mönchengladbach-based family-owned Trützschler company has created a charitable foundation: the Trützschler Foundation. The Foundation’s main focus is on supporting children and young people with learning and education, sport and exercise, and science and research.
‘AS SEEN ON TIKTOK' IS THE NEW ‘AS SEEN ON TV'
Near the Twizzlers and Sour Patch Kids at a New York candy store are fruit-shaped soft jelly candies that earned a spot on the shelves because they went viral on TikTok.
WHO HONORS HENRIETTA LACKS, WOMAN WHOSE CELLS SERVED SCIENCE
The chief of the World Health Organization honored the late Henrietta Lacks, an American woman whose cancer cells were taken without her knowledge during the 1950s and ended up providing the foundation for vast scientific breakthroughs, including research about the coronavirus.
WITH HUMOR, VENOM 2 LEANS INTO RELATIONSHIPS
“Venom: Let There Be Carnage” is best when it’s not trying to be a comic book movie.
INSTACART CEO SAYS ONLINE GROCERY SHOPPING HAS ROOM TO GROW
When the pandemic hit the U.S. last year, grocery delivery company Instacart suddenly became a lifeline for millions of consumers. Sales volumes skyrocketed; in one month, the company added 300,000 drivers to keep up with its orders.
HYDROPOWER DECLINE ADDS STRAIN TO POWER GRIDS IN DROUGHT
After water levels at a California dam fell to historic lows this summer, the main hydropower plant it feeds was shut down. At the Hoover Dam in Nevada — one of the country’s biggest hydropower generators — production is down by 25%. If extreme drought persists, federal officials say a dam in Arizona could stop producing electricity in coming years.
MICROSOFT SHUTTING DOWN LINKEDIN IN CHINA
Microsoft is shutting down its LinkedIn service in China later this year after internet rules were tightened by Beijing, the latest American tech giant to lessen its ties to the country.
WILLIAM SHATNER, TV'S CAPT. KIRK, BLASTS INTO SPACE
Hollywood’s Captain Kirk, 90-year-old William Shatner, blasted into space Wednesday in a convergence of science fiction and science reality, reaching the final frontier aboard a ship built by JeffBezos’ Blue Origin company.
US REGULATORS SEEK ANSWERS FROM TESLA OVER LACK OF RECALL
U.S. safety investigators want to know why Tesla didn’t file recall documents when it updated Autopilot software to better identify parked emergency vehicles, escalating a simmering clash between the automaker and regulators.
CHINA SET TO SEND 3 ASTRONAUTS ON LONGEST CREWED MISSION YET
China is preparing to send three astronauts to live on its space station for six months — a new milestone for a program that has advanced rapidly in recent years.
UNITED AIRLINES WILL ADD NEW INTERNATIONAL ROUTES NEXT YEAR
United Airlines said Thursday it will launch its biggest expansion of transatlantic service next year, a vote of confidence that international travel will rebound from the depths of the pandemic.