Welspun India to invest Rs 800 crore on capacity enhancement over next two years, Retail News, ET Retail

Welspun India has said it is searching to devote about Rs 800 crore on capability expansion of its house textiles and flooring enterprises over the up coming two a long time. Welspun India, the country’s major house textiles manufacturer, would devote Rs 656.five crore on its house textiles business expansion throughout FY’22-23. Its options include things like augmenting its towel production capability by twenty for every cent to meet up with the expanding demand from the overseas buyers.

The board of the organization in a meeting held on Saturday accredited options to increase towel production capability at its Anjar, Kutch (Gujarat)-dependent plant to 1,02,000 metric tonnes for every annum (MTPA) from the existing eighty five,four hundred MTPA.

“Holding in view the recent development of buyers concentrate to observe the complete benefit chain i.e., ‘Farm to Shelf’, the board has accredited an financial commitment in 40 looms for towel material at

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Twitter’s future includes not only Bitcoin tipping but also NFTs

All payments acquired in Bitcoin will be handled by cryptocurrency payment agency Strike.

  • Consumers on the lookout to transact with fiat assets will be provided the choice of deciding upon 1 of 9 well known payment processors, such as Venmo and Dollars Application.
  • Strike’s native infrastructure has been made to operate atop the Lightning Community (LN), a layer 2 remedy that lets for exceptionally cheap, quick Bitcoin (BTC) transactions.
  • Twitter is also incorporating a host of new NFT-centric functions in the close to phrase, such as the authentication of distinct tokens applying unique badges.

It has been no secret that Twitter has been exploring a tipping attribute due to the fact the start off of Q2 2021. Having said that, just after months of create-up, the wait is finally around with the firm’s “Tipping Jar” choice likely stay previously currently, albeit only on the firm’s iOS app. In this regard,

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Kitex Group inks MoU to invest Rs 2,400 crore in Telangana, Retail News, ET Retail

HYDERABAD: Kitex Team, which accused the Kerala authorities of hounding it out of the point out, has made a decision to ramp up its investment committent in Telangana.

From an original announcement of Rs 1,000 crore in one particular clothing facility, the business has made a decision to devote Rs two,400 crore in environment up two integrated fibre-to-clothing producing clusters in Telangana. This will develop 22,000 direct work and close to eighteen,000 indirect work.

The two clusters, which will occur up at Kakatiya Mega Textile Park in Warangal and Sitarampur in Rangareddy district, will ship a few million parts for each year of clothing for kids in the -24 months age team to the US. The information had been specified out on Saturday after Kitex Team chairman and running director Sabu M Jacob signed an MoU with the Telangana authorities.

The second largest manufacturer of clothing for infants presently manufactures

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More than 1.77 lakh artisans, weavers register on public procurement portal, Retail News, ET Retail

New Delhi: As numerous as 28,374 artisans and one,forty nine,422 weavers have registered themselves on the general public procurement portal GeM as of August thirty, the Textiles Ministry claimed on Monday. The shift will support encourage handloom and handicraft products and solutions with governing administration consumers with out intermediaries, it claimed.

It claimed that this will increase participation from beneath-served vendor teams this kind of as artisans, weavers, micro entrepreneurs, ladies, tribal entrepreneurs and self-support teams doing work in Handloom and Handicrafts, who confront difficulties in accessing governing administration markets.

About 28 exclusive solution classes have been designed for handloom products and solutions at the portal and one hundred seventy tailor made solution classes for handicrafts.

“Devoted world wide web-banners and industry internet pages have been made for Indian Handloom and Indian Handicrafts products and solutions to showcase high-high quality handicraft and handloom products and solutions created by artisans, weavers,

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Consumer confidence drops

GfK’s Shopper Confidence Index dropped 5 details on the preceding month, reaching -13 in September.

The index declined across all 5 of its steps: past economic condition, key purchases, past individual finances and long term economic condition, and long term individual finances.

Joe Staton, consumer method director at GfK, explained: “On the again of considerations about growing prices for fuel and food items, the growth in headline inflation, tax hikes, empty shelves and the conclusion of the furlough plan, September sees customers slamming on the brakes as individuals currently in economic hardship anticipate a prospective cost of dwelling disaster.

“All steps have declined this month and customers are clearly stressing about their individual financial condition and the broader economic potential clients for the yr ahead. The Index also information a fall in the key buy index: depressing information for really hard-pressed vendors searching to build income as they go into

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Export promotion policy of TN, India targets $100 bn revenue by 2030

With an export revenue target of $100 billion by 2030, south Indian point out Tamil Nadu’s chief minister MK Stalin a short while ago unveiled the state’s Export Advertising Policy. A two-pronged method — export advertising and export diversification — will be adopted. Two economic work enclaves will be created in Manaellore and Thoothukudi for well balanced export growth.

Talking at the Tamil Nadu Exports Conclave, Stalin claimed the point out must get back the glory of worldwide trade it loved in historical periods.

The coverage has determined ten export hubs and shall strengthen export related widespread infrastructure assignments in these hubs by reimbursing twenty five for every cent of the venture price tag, subject to a ceiling of ₹10 crore for every hub, in accordance to media reviews from the point out.

With an export revenue target of $100 billion by 2030, south Indian point out Tamil Nadu’s chief

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