Denemek ALTIN - Özgür
BEYOND COTTON: INDIA'S TOUGH TEXTILE CHALLENGE
Mint Mumbai
|November 18, 2024
As the world shifts from cotton to man-made fibres, India's textile industry faces an uphill task
It was early June 2021. Businesses were reopening after the deadly covid-19 pandemic's second wave. Sunil J hunjhunwala, managing director of Tiruppur-based Techno Sportswear Pvt. Ltd, India's largest homegrown active-wear textile brand, noticed an unusual spike in the demand for his company's 'round-neck full-sleeved, polyester T-shirts from retailers in Pondicherry. He increased the supply, but it was sold out in no time. He realized that the T-shirts were in high demand from one cohort of consumers-fishermen. The price of cotton apparels had risen during the pandemic, and the fishermen switched to polyester clothing. Besides being cheaper, they dried quickly. Techno Sportswear's T-shirts, particularly, offered better ultraviolet ray protection, and its antimicrobial properties ensured that the shirts did not stink even when they were at sea for days. The word spread. "Today, one out of three fishermen, anywhere between Kanyakumari and Chennai, use our brand," Jhunjhunwala claimed. In the world of textiles, such polyester T-shirts, or those made with viscose or a blend of synthetic fibres, are technically called man-made fibres (MMF ). Unlike the fishermen, other Indian consumers have been slow to use them. India remains predominantly a cotton market-over 60% ofthe domestic demand is for cotton textiles. But globally, it is a different story. According to the International Cotton Advisory Committee, the share of cotton in the world textile fibre consumption in 1960 was 68%. Textile Exchange, a US-based non-profit, puts cotton's share in 2023 at just 20%. MMF accounts for 74% ofthe consumption. "Consumers, world over, have moved to functional clothing and cotton is not able to meet their expectations. MMF offers the versatility they seek, " said J hunjhunwala. "Demand for cotton apparel will continue to decline," he predicted. Functional clothing refers to clothes used for specific use cases, such as gym or office. The problem? In the export market, India remain
Bu hikaye Mint Mumbai dergisinin November 18, 2024 baskısından alınmıştır.
Binlerce özenle seçilmiş premium hikayeye ve 9.000'den fazla dergi ve gazeteye erişmek için Magzter GOLD'a abone olun.
Zaten abone misiniz? Oturum aç
Mint Mumbai'den DAHA FAZLA HİKAYE
Mint Mumbai
These firms will sell shovels during semaglutide gold rush
Weight-loss drug semaglutide, also used to treat type-2 diabetes, will face its next big turning point in early 2026, when patents held by Novo Nordisk expire in India.
1 mins
November 27, 2025
Mint Mumbai
'First-gen founders take bigger investment risks'
India’s markets are minting a new class of first-generation millionaires: entrepreneurs who’ve scaled ideas into Initial public offerings (IPOs) and unlocked unprecedented personal wealth.
2 mins
November 27, 2025
Mint Mumbai
EV, hydro boom to power 6x rise in battery storage by ‘47
India is preparing to meet a projected cumulative battery energy storage capacity of nearly 3 terawatt-hours (TWh) by 2047 across electric mobility, power, and electronic components, according to two people aware of the development, with electric vehicles (EVs) expected to contribute a third of the demand.
2 mins
November 27, 2025
Mint Mumbai
Candidates using AI? No, thanks, say IIT recruiters
As the annual placement season dawns at the Indian Institutes of Technology (IITs), colleges and recruiters are working to bar artificial intelligence (AI) tools and prevent cheating at test venues, a concern that first rose last year.
3 mins
November 27, 2025
Mint Mumbai
Taxpayer base soars, but return filings lag sharply: CBDT data
India’s income tax base is growing faster than the number of those conscientiously filing returns, driven by the expanding reach of the tax deducted at source (TDS) system, according to latest data from the central board of direct taxes (CBDT).
3 mins
November 27, 2025
Mint Mumbai
Market nears peak on dollar tailwind
Stocks jump 1.2%, but futures rollovers signal weak conviction
3 mins
November 27, 2025
Mint Mumbai
SP Eyes Tata exit to cut debt costs
Debt-laden Shapoorji Pallonji Group is banking on Tata Trusts softening the stance on its potential exit from Tata Sons to reduce its borrowing costs, two people aware of the matter said.
2 mins
November 27, 2025
Mint Mumbai
MO Alternates launches its maiden private credit fund
The %3,000 crore fund has drawn capital from family offices, ultra-HNIs and institutions
3 mins
November 27, 2025
Mint Mumbai
HP to cut jobs after profit outlook miss
HP Inc.gave a profit outlook for current year that fell short of estimates and the company said it will cut 4,000 to 6,000 employees through fiscal 2028 by using more AI tools
1 mins
November 27, 2025
Mint Mumbai
Apple set to regain top smartphone maker spot after 14 yrs
Apple Inc.will retake its crown as the world’s largest smartphone maker for the first time in more than a decade, lifted by the successful debut of a new iPhone series and a rush of consumers upgrading devices, according to Counterpoint Research.
1 min
November 27, 2025
Listen
Translate
Change font size

