Across segments, apparels grew over 20% year-on-year, aided by better demand and order visibility. Spinning revenues grew 15-20%, getting an impetus with increased yarn demand from China, leading to higher realizations. Prices are expected to remain firm, supported by lower cotton production in China and Xinjiang cotton restrictions. Home textile companies are emerging as key beneficiaries as global buyers shift beyond their sourcing base of Bangladesh, Vietnam, etc. due to expected gains from India’s free trade agreements (FTAs) with the UK and EU, and tariff competitiveness in the US.
