Textile Sphere News Roundup - 23rd October 2024

1. Bharat Tex 2025 Gains International Momentum

The Ministry of Textiles hosted an interactive session at Sushma Swaraj Bhawan, New Delhi, to advance Bharat Tex 2025. The event, attended by representatives from over 30 countries including Australia, Brazil, Finland, and Russia, highlighted the themes of scale, sustainability, and skills. Union Minister of State for External Affairs and Textiles, Shri Pabitra Margherita, emphasized India's vision for a sustainable and equitable future during his keynote address. (Read More)

2. India's Cotton Output to Decline Due to Weather Challenges

India's cotton production for the 2024/25 season is projected to drop by 7.4% to 30.2 million bales, according to the Cotton Association of India (CAI). Excessive rainfall and reduced planting areas are cited as the main causes. This production decline may boost cotton imports, which are expected to rise to 2.5 million bales from 1.75 million bales in the previous season. (Read More)

3. ICE Cotton Prices Rise Amid Higher Crude Oil Prices and Commodity Fund Buying

ICE cotton prices surged by 1.7%, with the December 2024 contract closing at 72.20 cents per pound. This rise was fueled by stronger crude oil prices, driven by Middle East tensions, which are expected to push polyester prices higher. The USDA report also indicated improved cotton crop conditions in the US, contributing to the market rally. (Read More)

4. Texas Tech Receives intexcon Innovation Award for Technical Textiles Collaboration

Texas Tech University's Nonwovens Laboratory and Jayalakshmi Textiles were honored with the intexcon Innovation Award for their collaborative research in technical textiles. The award was presented to Dr. Seshadri Ramkumar of Texas Tech and Arunkrishna Srinivasan of Jayalakshmi Textiles during the intexcon conference in Ahmedabad, recognizing their contributions to advancing cotton's role in technical textile applications. (Read More)