The Synthetic & Rayon Textiles Export Promotion Council

MARKET WATCH 10 AUGUST, 2023

NATIONAL

INTERNATIONAL

NATIONAL

Karnataka issues notice to find suitable land for jeans textile park

The Karnataka government has issued a directive this week to identify suitable land for the establishment of a jeans textile park in Ballari. Chief minister Siddaramaiah presided over a meeting of elected representatives from Ballari , instructing district in-charge minister B Nagendra and Ballari City MLA Nara Bharath Reddy to locate appropriate land for the creation of the jeans textile park. Additionally, they were tasked with preparing a Detailed Project Report (DPR) for the initiative.In the lead-up to the Karnataka Assembly elections on May 10, former Congress chief and current Wayanad MP, Rahul Gandhi, had made five key commitments, one of which was a pledge of ₹ 5,000 crore for the establishment of an apparel park in Ballari. Subsequently, Rahul Gandhi corresponded with the State Government to emphasise his proposal. During his Bharat Jodo Yatra in September 2022, Rahul Gandhi halted in Ballari and made promises to enhance the district’s infrastructure. Rahul Gandhi stated during the roadshow, “I visited some jeans manufacturing units in Ballari during the Bharat Jodo Yatra. I witnessed the challenges faced by the women employed in these units. I wish to assure you that we are committed to transforming Ballari into India’s denim capital. We intend to establish a dedicated jeans manufacturing park.” He further added that if Congress were to assume power, they would allocate ₹5,000 crore to establish a Jeans Apparel Park in Ballari.However, tangible changes on the ground have been elusive since the party came to power Vinayak Rao, President of the Bellary Garment Manufacturers Association (BGMA) said: “We are faced with a host of issues. The cotton price hike in 2022 was just one more blow to the industry.” He added that the textile park could revive the industry and the Congress should fulfil its promise. Ballari City MLA Nara Bharath Reddy said that chief minister Siddaramaiah had convened a meeting with all Ballari MLAs to discuss ongoing projects in the district on August 8 . “Under the guidance of the Chief Minister, we have been directed to prepare a DPR (Detailed Project Report) and identify appropriate land within Ballari city for the proposed textile park. Will present the DPR and collaborate closely with the district administration to make a comprehensive list of government-owned lands,” said the MLA.

Source: Hindustan times

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How National Green Hydrogen Mission seeks to Reduce Cost of Green Hydrogen

The Union Minister for New & Renewable Energy and Power has informed that Green Hydrogen can be produced through electrolysis of water using renewable electricity, and from biomass through thermochemical and biochemical routes. At present, there is very limited production of Hydrogen through renewable sources in the country. Several entities have announced plans to setup production facilities for Green Hydrogen/Green Ammonia in India. However, these are still at a preliminary stage. The Minister informed that costs of the electrolysers and input renewable energy are the two major components of Green Hydrogen production cost. The costs of capital, supply and treatment of water, storage and distribution, conversion of hydrogen to suitable derivatives, and enabling infrastructure would also contribute to the final delivered cost of Green Hydrogen for any particular application. The Minister explained how the National Green Hydrogen Mission seeks to undertake the necessary steps to enable cost reduction in these aspects. The Minister informed that on 4 January 2023, the Union Cabinet approved the National Green Hydrogen Mission with an outlay of ₹ 19,744 crore. The overarching objective of the Mission is to make India a Global Hub for production, usage and export of Green Hydrogen and its derivatives. The following components have been announced as part of the Mission: i. Facilitating demand creation through exports and domestic utilization; ii. Strategic Interventions for Green Hydrogen Transition (SIGHT) programme, a major financial measure with an outlay of ₹ 17,490 crore. The programme comprises two distinct financial incentive mechanisms to support domestic manufacturing of electrolysers and production of Green Hydrogen; iii. Pilot Projects for green steel, mobility, shipping, decentralized energy applications, hydrogen production from biomass, hydrogen storage, etc.; iv. Development of Green Hydrogen Hubs; v. Support for infrastructure development; vi. Establishing a robust framework of regulations and standards; Research & Development programme; viii. Skill development programme; and ix. Public awareness and outreach programme. The Mission does not have a provision of incentives for consumption of Green Hydrogen or its derivatives. The Mission is expected to lead to development of 5 MMT (Million Metric Tonne) Green Hydrogen production capacity per annum by 2030, contributing to reduction in dependence on import of fossil fuels. Achievement of Mission targets is expected to reduce a cumulative ₹ 1 lakh crore worth of fossil fuel imports by 2030. This is likely to leverage over ₹8 lakh crore in total investments and create over 6 lakh jobs. Nearly 50 MMT per annum of CO2 emissions are expected to be averted through production and use of the targeted quantum of Green Hydrogen. The Mission aims to develop and scale up Green Hydrogen production technology and make it affordable and widely accessible. The Minister informed that other steps are also being taken by the Government to turn India into a global hub for the production, use and export of Green Hydrogen, including inter-alia: Waiver of inter-state transmission charges has been granted for a period of 25 years to the producers of Green Hydrogen and Green Ammonia for the projects commissioned before 31 December 2030. The Electricity (Promoting Renewable Energy through Green Energy Open Access) Rules, 2022, notified in June 2022 have specified provisions for facilitating supply of renewable energy through Open Access for Green Hydrogen production. This information has been given by the Union Minister for New & Renewable Energy and Power Shri R. K. Singh, in written reply to two questions, in Rajya Sabha on August 8, 2023.

Source: PIB

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Cott-Ally mobile app has been developed for farmers to increase awareness about MSP rates, nearest procurement centers, payment tracking, best farm practices etc.

Government has taken several measures for development of cotton sector and various facilities are provided by Government . Some of the major steps and facilities are indicated below:- Department of Agriculture & Farmers Welfare is implementing cotton development programme under National Food Security Mission (NFSM) in 15 major cotton growing states viz., Assam, Andhra Pradesh, Gujarat, Haryana, Karnataka, Madhya Pradesh, Maharashtra, Odisha, Punjab, Rajasthan, Telangana, Tamil Nadu, Tripura, Uttar Pradesh & West Bengal from 2014-15 with the aim to increase production and productivity. The assistance is being provided to the farmers on various types of demonstrations, trials on high density planting system, distribution of plant protection chemicals & bio agents, national & state level trainings. Under the scheme, an amount of Rs. 15.11 crores as central share has been allocated to States during 2022-23. To safeguard economic interest of cotton farmers and ensure adequate availability of cotton to the textile industry Govt. of India introduced a formula of 1.5 times of cost of production (A2+FL) for declaring MSP from 2018-19. For cotton season 2022-23, MSP of Fair Average Quality (FAQ) grade cotton had increased by about 6 % which has further been increased by 9% to 10% for ensuing cotton season 2023-24. To safeguard the cotton farmers from distress sales, Cotton Corporation of India (CCI) is appointed as a Central Nodal agency for undertaking MSP operations when prices of Fair Average Quality grade seed cotton (kapas) fall below the MSP rates. Brand name for Indian cotton as “Kasturi Cotton India” was launched on 7th October 2020. MoU signed between CCI on behalf of Govt. of India and TEXPROCIL for Traceability, Certification and Branding of KASTURI Cotton India with Corpus fund of 30 crores by joint contribution of Industry and MoT over a period of 3 years during 2022-23 to 2024-25. Ministry of Agriculture & Farmers Welfare has sanctioned a special project on cotton titled “Targeting technologies to agro-ecological zones-large scale demonstrations of best practices to enhance cotton productivity” with a budget outlay of Rs. 41.87 crores under NFSM during 2023- 24. This projects targets technologies such as High Density Planting System (HDPS), closer spacing and production technology for ELS cotton focusing on a cluster-based and value chain approach in Public Private Partnership (PPP) mode through Direct Benefit Transfer (DBT) to farmers. Ministry of Textiles constituted Textile Advisory Group (TAG) on 25th May 2022 as an informal body which facilitates inter-Ministerial coordination and represents stakeholders from the entire cotton value chain to deliberate & recommend on the issues of productivity, prices, branding, etc. Cott-Ally mobile app has been developed for farmers to increase awareness about MSP rates, nearest procurement centers, payment tracking, best farm practices etc. Government ensures availability of Cotton to Textile Industry through a mechanism namely Committee on Cotton Promotion and Consumption (COCPC). COCPC keeps constant watch and reviews cotton scenario in the country and aptly advises the Government generally on matters pertaining to production and consumption of cotton. This information was given by the Union Minister of State for Ministry of Textiles, Smt. Darshana Jardosh in a written reply today in the Lok Sabha.

Source: PIB

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MSME delayed payments: Only 19% of complaints disposed so far; total applications cross 1.5 lakh

The number of applications or complaints filed by micro and small enterprises (MSEs) in the country against delay in their payments pending with central ministries, departments, central and state public sector units, and others for goods and services purchased has hit 1.56 lakh mark, according to the official data. The applications or cases disposed by MSE facilitation councils — set up across the country to act as an arbitrator for settlement of payments — were 30,527 or 19.5 per cent of the total applications. According to the data available on the delayed payment monitoring portal MSME Samadhaan, Rs 37,322 crore was involved in total applications filed since the launch of the portal on October 30, 2017. The disposed cases involved Rs 5,328 crore. 9,699 applications were filed against state governments while 5,801 applications were filed against central PSUs. Central ministries, central departments, state PSUs, and MSME units had 1154, 2267, 3230 and 12,822 applications filed against them by MSEs since October 2017.  Currently, 32,894 cases amounting to Rs 11,562 crore were under consideration by facilitation councils while 39,720 applications involving Rs 7,808 crore were rejected. For quicker disposal of cases, the MSME Ministry has requested states/union territories to set up more number of facilitation councils. “More than one MSEFC has been set in Delhi, Jammu & Kashmir, Karnataka, Kerala, Maharashtra, Punjab, Rajasthan, Tamil Nadu, Telangana, U.P. & West Bengal,” Bhanu Pratap Singh Verma, Minister of State in the MSME Ministry had informed Parliament on August 7. Importantly, the number of applications disposed in FY23 had dropped by a significant 73.5 per cent year-on-year in comparison to a 50 per cent decline in FY22. According to the data, 1,043 applications involving Rs 182 crore were disposed by the councils in FY23 vis-a-vis 3,937 applications involving Rs 441 crore disposed in FY22 and 7,879 applications involving Rs 1,599 crore disposed in FY21, FE Aspire had reported in June.

Source: Financial Express

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Liva collaborates with 1500 weavers

To support the weaver community and increase productivity in the handloom sector, Aditya Birla Group’s Birla Cellulose has so far collaborated with over 1500 weavers across the country. In a press release, the company informed that along with its regional partners, Birla Cellulose has created awareness about a natural, sustainable, and durable alternative by introducing fibers such as Viscose, Modal, and Excel under the Liva brand. Birla Cellulose has already supplied 50 tonnes of yarn to weavers in the past year, ensuring timely delivery and 50 per cent YOY growth is expected. This initiative helps revive the industry and supports its expansion, aligning with the vision of ‘Make in India’ for the handloom sector. According to Priyanka Priyadarshini, AVP of Business Development at Birla Cellulose, their steps aim to inspire new artists and provide them with stable-priced raw materials are creating demand consistency. To create a seamless supply chain of Liva handloom products for consumers, Birla Cellulose has undertaken rural outreach programs, awareness campaigns, technical seminars, and offline and online marketing activities. They have extended their support beyond production, assisting with post-production requirements such as tagging, market connections, roadshows, and door-to-door promotions.

Source: Apparel Resources

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Trade settlement in rupee gains pace with neighbouring countries

India’s efforts to promote settlement of foreign trade in Indian rupees are bearing fruits, with neighbouring countries like Bangladesh and Sri lanka being the first to use the route. Sri Lanka has included Indian rupee in its list of designated foreign currencies while with Bangladesh a new mechanism has been launched last month to settle trade in Indian rupees, Minister of State for Commerce and Industry Anupriya Patel said in a reply to a question in Lok Sabha. Bangladesh is the sixth largest export market for India. In FY 23 India exported $11.6 billion worth of goods to Bangladesh, which was 27% less than the previous year. India’s imports from Bangladesh in 2022-23 stood at $2.02 billion up 2.1 from previous year. Biggest export to Bangladesh is cotton yarn whose share is 8.7% followed by petroleum products at 7%. India’s exports to Sri Lanka stands at $5 billion while imports are $ 1 billion. Significant part of the trade with Nepal is being carried out in Indian currency while with Bhutan all trade is in rupees, the minister said. Two Indian and Bangladeshi banks each have been designated to settle bilateral trade in Indian rupees, the minister said. From the Indian side the two banks are State Bank of India and ICICI Bank while from Bangladesh Sonali Bank PLC. and Eastern Bank from Bangladesh are part of the mechanism.For rupee trade with Sri Lanka Authorised Dealer (AD) Banks in India have been permitted to open Rupee Vostro Accounts. “Accordingly, Rupee Vostro Accounts of eight corresponding banks from Sri Lanka have been opened with respective AD Banks in India, with prior approval of the Reserve Bank of India (RBI).” The minister said an arrangement to facilitate bilateral trade payments between India and Iran was adopted in November 2018, in supersession of all previous agreements. Rupee trade mechanism has been initiated to facilitate trade in national currency with Russia. RBI had issued the guidelines for opening Special Rupee Vostro Accounts (SRVA) by foreign banks in Indian commercial banks. “As of July 2, 2023, RBI has approved 34 applications from different Russian banks for opening SRVA in 14 Indian commercial banks,” Patel said.

Source: Financial Express

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India’s apparel imports continue declining from China; Bangladesh grabs the opportunity!

India’s apparel imports for the period of January to May 2023 have been reported at approximately US $ 603.24 million, based on official data from the Ministry of Commerce and Industry. This information, evaluated by the Apparel Resourcesteam, indicates a moderate growth trend. The total apparel procurement by Indian fashion buyers from international markets saw a steady 8.65 per cent increase compared to the previous year. Imports of knitted clothing experienced a slight decline of 2.63 per cent, totaling about US $ 244.41 million. On the other hand, imports of woven clothing showed a more substantial rise of 17.96 per cent, reaching around US $ 358.83 million. Specifically, imports from Bangladesh contributed significantly, reaching US $ 264.71 million, marking a 15.10 per cent increase for the first five months of 2023. This constitutes approximately 43.75 per cent of India’s total apparel imports during this period. The trend of declining apparel imports from China continued, with the value standing at US $ 93.26 million, reflecting a notable decrease of 11.21 per cent. It’s worth noting that India’s imports from China have been consistently declining for the past three years. Apparel imports from Spain also experienced a minor decline of 3 per cent, totaling US $ 50.55 million. During the period of January to May 2023, the top three countries for Indian apparel imports were Bangladesh, China, and Spain, collectively accounting for about 68 per cent of the overall apparel import value.

Source: Apparel Resources

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ColorJet Showcases Cutting-Edge Textile Printing Technology At Gartex 2023

ColorJet, a provider of digital printing solutions, has once again demonstrated its commitment to innovation and excellence by showcasing advanced digital textile printing machines at recently concluded Gartex Texprocess India 2023. The event held at Pragati Maidan from August 3 – 5, 2023, garnered significant attention from industry, and even received an esteemed visit from the Union Minister of Textiles, Smt. Darshana Jardosh. The ColorJet team was privileged to host the Union State Minister of Textile and Railways, at the ColorJet Booth during her engaging visit to the Gartex exhibition. ColorJet’s participation in the Gartex exhibition provided a platform for the company to showcase its latest advancements in digital printing technology. The live demonstrations of High speed, High Quality VASTRAJET K2 and high speed SUBLIXPRESS Plus captivated the audience with its precision, speed, and exceptional print quality. The highlight of the event was the distinguished presence of the Union State Minister, Smt. Darshana Jardosh, who graced the ColorJet booth with her visit. The Minister not only expressed keen interest in the showcased machines but also personally observed the live demonstrations. This unique opportunity allowed the Minister to witness firsthand the transformative potential of ColorJet’s printing solutions in the textile industry. At the Gartex inauguration event, Smt. Darshana Jardosh emphasized the significance of India’s textile sector, highlighting that it is one of the oldest and largest sectors in the Indian economy. Contributing to approximately one-fifth of the country’s industrial production. This indicates the industry’s substantial role in the nation’s economic growth and employment generation. Speaking on the occasion, Chairman, Mr. M. S Dadu of ColorJet Group extended his sincere appreciation to Smt. Darshana Jardosh for taking the time to visit the booth and witness the company’s efforts in textile printing technology. As a leading player in the digital textile-printing sector, ColorJet remains dedicated to revolutionizing the industry in alignment with the needs of the customers, Mr. Dadu further added. The company’s commitment to providing innovative and customer-centric solutions has been at the forefront of its success. As ColorJet continues to push the envelope in digital printing, the company remains committed to providing cutting-edge solutions that empower textile businesses and industries to achieve new levels of creativity, efficiency, and success.

Source: Textile World

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INTERNATIONAL

SGS And Fibretrace Join Forces To Develop A New Fiber Integrity Protocol For The Textile Industry

SGS, a testing, inspection and certification company, has joined forces with FibreTrace, a digital and physical traceability provider in traceable fiber technology, to develop a new Fiber Integrity Protocol for the textile industry. The partnership will support brands worldwide to boost industry and consumer confidence in product claims through the integration of robustly audited pathways with the cloud-based traceability technologies, FibreTrace Mapped and FibreTrace Verified. SGS has now begun work on developing the protocol which will combine testing verification, chain of custody checking and product markers across a range of materials. To further enhance the implementation of verification and compliance across the full value chain, SGS is supporting FibreTrace to: Support suppliers to demonstrate compliance and accurate reporting within the FibreTrace digital platform Review the compliance and traceability of fibers and materials prior to the application of FibreTrace physical technology (for example at recycled polyester collection points) Help brands and retailers carry out on-site scanning and verify fibers with the use of FibreTrace physical and digital technology Yvonne Tse, Vice President, Global Softlines at SGS said: “This welcome collaboration with FibreTrace marks another significant step forward to support the global textile industry towards full supply chain traceability. By embracing new technologies, we are better placed to ease the pathway towards traceability for producers, manufacturers, brands and retailers worldwide.” The new Fiber Integrity Protocol will service major manufacturing regions including Bangladesh, China, India, Japan, Pakistan, South Korea, Turkey, United States and Vietnam. Shannon Mercer, Chief Executive Officer for FibreTrace commented: “The partnership with SGS allows the accelerated and robust implementation of FibreTrace across vast supply chains, with multi-fiber applications, multiple languages and multiple countries of origin and production.” SGS is widely recognized as the global benchmark for quality and integrity. Providing a single consolidated source for testing, certification and verification services, consulting solutions and technical assistance, SGS helps the textile industry to reduce risk while improving efficiency and quality.

Source: Textile World

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LDC Graduation: Bangladesh seeks 6 years’ duty-free market access in UK

Bangladesh has formally requested the United Kingdom to extend its duty-free market privileges for an additional six years following its transition from a least developed country (LDC) to a developing nation in 2026. During the inaugural meeting of the collaborative working group composed of representatives from Bangladesh and the UK, which took place in Dhaka on 8th August, the Bangladeshi delegation put forward this appeal. Heading the delegation was Abdur Rahim Khan, Additional Secretary of the Ministry of Commerce, who communicated that the LDC group had already submitted a proposal to the World Trade Organisation (WTO) seeking an extension of the current trade benefits for six years beyond the graduation period. Consistent with the proposal submitted to the WTO, the Ministry of Commerce in Bangladesh has formally proposed that duty-free and quota-free market access for Bangladeshi goods in the UK be upheld until 2032, subsequent to the country’s graduation in November 2026. Abdur Rahim remarked, “Currently, Bangladeshi export commodities receive duty-free and quota-free access to the UK market through the ‘everything but arms’ scheme. After our transition, about 92 per cent of our products are anticipated to maintain duty-free access within the UK’s preferential trading initiative for developing nations, known as the Developing Countries Trading Scheme (DCTS), until 2029.”

Source: Apparel Resources

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Artificial Intelligence And Robotics In The Textile Industry: Bayern Kapital To Participate In Series A Funding Round For sewts

Robotics start-up sewts has successfully completed a Series A funding round with a total volume of EUR 7 million. The Munich-based firm’s business model won over several top-tier robotics investors. A number of renowned international capital providers, namely Emerald Technology Ventures, CNB Capital, EquityPitcher Ventures and Nabtesco Technology Ventures, have joined existing investors Bayern Kapital, APEX Ventures and HTGF, which are increasing their investment from the seed funding round in 2021. Driven by technological progress, solutions based on robotics and AI are becoming increasingly prevalent in the world of work across a range of different industries. In the manufacturing and processing industry, there are already countless solutions for processing solid, form-stable raw materials such as metals. However, automation continues to pose a challenge when dealing with deformable and soft materials such as textiles or semi-finished products made from carbon fibre. This affects the clothing and textile industry and large-scale laundries in particular, which are struggling to find staff. sewts GmbH, founded in 2019 by engineering students Alexander Bley, Tim Doerks and Till Rickert using an EXIST Business Start-up Grant, endeavours to meet this need. With its unique combination of AI, robotics and material simulation, the Munich-based company has a vision to become the world’s leading partner for automation processes for easily deformable materials. sewts has designed innovative control and image processing software that allows robots to use smart algorithms developed in house to predict in real time how materials with an unstable form will behave when gripped and to respond with precision.

Market introduction and further use cases in textile production In 2022, sewts launched VELUM, its first product ready for series production. VELUM is a robotic unit designed for industrial laundries that feeds wrinkled towels and other towelling products into the folding machine, thus helping to automate a predominantly manual activity. Up to 700 items can be processed per hour, at a speed similar to that achieved by humans. The product helps to overcome core challenges in the textiles sector, such as labour shortages, and considerably enhance process efficiency. Alongside the market launch of VELUM, sewts is already developing further automation solutions along the textile production life cycle. Last year, with support from the Otto Group, the Munich-based start-up created a prototype for the automated handling of returns in online shopping. The founders’ long-term vision is to manufacture clothing using automated robotics solutions. “We are delighted to announce that our Series A funding round has concluded and would like to thank all of the investors for the trust they have placed in us”, says sewts co-founder and co-CEO Alexander Bley. “We will use this fresh capital to progress with our growth targets internationally. These include launching further VELUM systems in international large-scale laundries and, as a next step, refining our prototype for the automated handling of returns in online shopping.” “With VELUM, sewts has brought an innovative product solution to market maturity and is already planning further promising automation solutions for the textile industry”, says Monika Steger, Managing Director of Bayern Kapital. “Textiles manufacturing and textiles recycling are returning closer to the consumer market. In this way, sewts is making a key contribution to overcoming staff shortages in textile firms and reaching global climate targets.”

Source: Textile World

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Renowned Material Science And Polymer Chemistry Expert, Dr. Sanjay Patel, Joins Navis TubeTex To Advance Company’s Mission

Navis TubeTex, a provider of dyeing, finishing, and coating solutions, dedicated to providing cutting edge sustainability solutions, is pleased to announce the appointment of Dr. Sanjay Patel. In his new role, Dr. Patel will lead the chemical applications product line, further strengthening the company’s commitment to providing the leading sustainable chemical finishing solutions. Dr. Patel brings with him a wealth of experience and expertise that will play a pivotal role in driving growth and advancing innovation in chemical application, coatings, and impregnation of a wide range of substrates for technical and high-performance applications. With a distinguished career spanning over 35 years, Dr. Sanjay Patel is a respected authority in Material Science and Polymer Chemistry. He holds a master’s degree in chemistry and PhD in Polymer Chemistry from the University of Akron and has led groundbreaking research in emerging technologies for materials and processes. Dr. Patel’s deep knowledge and strategic vision will guide Navis towards new heights of excellence and reinforce its position as a frontrunner in the chemical applications and coating field. “Having Dr. Sanjay Patel on board is a significant milestone for Navis,” said Will Motchar, President and CEO. “His exceptional leadership and profound insights will drive us closer to our mission of being the leader in sustainable solutions for chemical applications. We are excited to welcome him to our team and look forward to the transformative impact he will undoubtedly bring.” Throughout his career, Dr. Patel has consistently championed the commercialization of sustainable new products and processes. His accomplishments include an impressive portfolio of over 25 Patents and numerous papers published in scientific journals. At Navis, Dr. Patel will spearhead efforts in the chemical applications business, leveraging his expertise to fuel growth and innovation. “I am thrilled to be joining Navis and contributing to its exceptional work in the textile finishing industry,” said Dr. Sanjay Patel. “Together, we will continue to drive innovation, improve our customers operations, and make a lasting impact on the sustainability of the industries we serve.” Dr. Patel’s appointment comes at an exciting juncture as Navis focuses on pioneering new products and processes for the industry. His addition to the team is a testament to the company’s dedication to attracting top-tier talent and propelling advancements in sustainable solutions for finishing.

Source: Textile World

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Kornit Digital Further Demonstrates Commitment To More Sustainable Fashion And Textile Industry With Release Of Third-Annual Impact Report

Kornit Digital LTD. (“Kornit” or the “Company”), a worldwide provider of sustainable, on-demand digital fashionx and textile production technologies, today issued its Impact Report for 2022, highlighting the Company’s progress against its long-term goals related to climate action, waste management, green chemistry, and workplace diversity. This third-annual report reinforces Kornit’s commitment to an Environmental, Social, and corporate Governance (ESG) strategy that aims to transform the fashion and textile industry into one that is significantly more sustainable and ethical. “As a change-maker and leader in fashion and textiles, we take our responsibility seriously to foster an industry that is cleaner and safer, as well as one that is more responsible and diverse,” said Ronen Samuel, Chief Executive Officer at Kornit Digital. “We consider ourselves an agent of long- term industry-wide change by enabling our customers to be more sustainable, while also minimizing the social and environmental impact of our operations. The Kornit 2022 Impact Report reflects this commitment to transforming the industry and creating a brighter future for the planet and the people who inhabit it.”

Source: Textile World

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