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Showing Tag: "textile" (Show all posts)

Textile sector loses 1L workers to NREGA in 2011

Posted by Vibhore Lodha on Saturday, April 14, 2012, In : Indian Market 
The country's biggest man-made fibre industry in the city, which contributes to about 40 per cent of the nation's man-made fabric demand, is facing an acute shortage of workers. 

A huge chunk of skilled workers from states like Bihar, Uttar Pradesh, Orissa and Andhra Pradesh employed in the weaving and processing sectors have shifted to their hometowns in the last five years due to National Rural Employment Guarantee Act (NREGA) and other central government schemes that provide doorstep employ...
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Sonipat to add Rs. 750 crore to textile business

Posted by Vibhore Lodha on Wednesday, March 28, 2012, In : Indian Market 
Seems like the Haryana government is building hubs for every industry. The Haryana State Industrial and Infrastructural Development Corporation (HSIIDC) is now setting up a textile park in Barhi, Sonipat to generate around Rs 750 crore annual garments business and create 7,500 jobs. 

This is another step in the series of industrial hubs - a footwear park in Bahadurgarh, an export promotion park in Kundli, industrial model towns in various cities, Petro Hub in Panipat - established by HSIIDC. 

"...
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Denim makers in pink on healthy Q2 numbers

Posted by Vibhore Lodha on Friday, November 18, 2011, In : Indian Market 
In spite of a dull market and over supply situation, denim fabric makers have seen rise in their bottom lines for the second quarter this fiscal. While the cotton prices may have slipped down, denim companies attribute growth in net profits to better inventory management this year. 

For instance, Ahmedabad-based textile conglomerate Arvind Limited booked a net profit of Rs 62 crore, as against Rs 39 crore in the corresponding second quarter last year, witnessing an increase of 58 per cent. 

Sim...
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Government approves 21 new Textiles Parks

Posted by Vibhore Lodha on Thursday, November 3, 2011, In : Indian Market 
Government has sanctioned 21 new Textiles Parks under the scheme for Integrated Textiles Parks with a project cost of Rs. 2100 crores to be implemented over a period of 36 months. 

Minister for Commerce, Industry and Textiles Anand Sharma as Chairman of the Project Approval Committee under the Scheme, on Thursday accorded approval to the recommendations of the Inter Ministerial Project Scrutiny Committee, which examined 55 proposals for new Textiles Parks in the country. 

The Scheme for Integra...
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Textile firms to remain under pressure in Q2

Posted by Vibhore Lodha on Friday, October 21, 2011, In : Indian Market 
Textile companies’ sales and margins are expected to remain under pressure in the second quarter of the current financial year due to weak exports and domestic demand. Only integrated textile companies are expected to fare better. 

Many mills will see margin pressure. Improvement, if any, could be seen only in the quarters to come. This year, cotton spinners have been affected by high inventory costs, as many of them had piled up cotton procured at high prices in February, after which the pr...
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Textile units will no longer face gas cuts ..

Posted by Vibhore Lodha on Friday, August 26, 2011, In : Indian Market 
There is good news for the textile processing units in the country's biggest man-made textile fibre hub in Surat. From now on, there will be no cuts in the supply of natural gas to the units. 

In an important decision, the Gujarat Gas Company Limited (GGCL) has raised the Restricted Supply Level (RSL) of the natural gas supplied to about 440 units in the textile hub to 100 per cent to ensure continuous supply to its customers under the Gas Sales Agreement (GSA) effective from September 1. 

The ...
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Govt may increase cotton exports quota

Posted by Vibhore Lodha on Thursday, July 21, 2011, In : Indian Market 
The government is likely to consider increasing cotton exports beyond the ceiling of 65 lakh bales for the current cotton season soon, hinted Textile Secretay Rita Menon in New Delhi on Tuesday. 

"We could consider to increase the quota of cotton...There can be certainly an increase but I cannot give the amount," Menon added. 

Last year the government had put a cap of 55 lakh bales (170 kg each) on natural fibre exports for the current season to protect domestic textiles industry in the wake of...
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India gaining edge over China in textiles

Posted by Vibhore Lodha on Monday, March 28, 2011, In : Indian Market 
The Indian textile industry has witnessed rise in overseas demand as the the Chinese textile and apparel sector is facing challenges from labour shortage and high wages, combined with rising inflation in the country, industry experts told SME Times.

"There are indications that there is a demand shift from China to India, especially in the non-apparel segment. From January-December 2010, imports from India to US grew faster than imports from China," Confederation of Indian Textile Industry (CI...
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Govt may sanction more funds for modernising textiles sector

Posted by Vibhore Lodha on Friday, March 18, 2011, In : Indian Market 
The government is soon expected to take up the proposal to increase the total fund sanction to Rs 15,000 crore for modernisation of the textiles industry in the XIth Five-Year Plan .

In order to promote modernisation of textiles units in the country, the government subsidises 5 per cent of interest payments on loans sanctioned under the scheme.

The government had earlier earmarked Rs 8,000 crore for this purpose, which was exhausted by June, 2010.

Subsequently, the government had asked banks ...
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Textiles ministry seeks duty rollback

Posted by Vibhore Lodha on Saturday, March 12, 2011, In : Indian Market 
The Union textiles ministry is seeking a rollback of the 10 percent excise duty on branded apparels, after all major retailers such as Shoppers Stop, Pantaloons, Westside, Lifestyle, Madura Garments and Arvind Brands among others observed a token strike on March 7. These retailers along with others across India shut down their establishments for the day while protesting against the new levy which will push up the prices of the branded apparel that they sell. Textiles secretary Rita Menon says...
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Synthetic fibres demand to rise sharply over 2 yrs

Posted by Vibhore Lodha on Thursday, March 10, 2011, In : Indian Market 
With cotton prices escalating sharply in the last six months, demand for man-made fibres is likely to increase to nearly 1,00,000 tonnes per month over the next two years, an industry expert said today.

The demand for man-made, or synthetic fibre, is 70,000 tonnes per month. This is likely to shoot up to 1,00,000 tonnes per month over the next two-years, he said.

"There has been an increase in demand for synthetic fibres as cotton prices are shooting up. We will not see a significant shift fr...
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With cotton prices skyrocketing, Bathinda to get textile park

Posted by Vibhore Lodha on Wednesday, February 16, 2011, In : Indian Market 
Following skyrocketing prices of cotton, this season, and farmers in the region selling their produce at above Rs 6,000 per quintal, Punjab deputy chief minister Sukhbir Singh Badal on Sunday said the state government was giving final touches to their plan of setting up a Textile Park in Bathinda to provide gains of value addition to cotton farmers of Bathinda and Mansa belt.

Sukhbir said the plan for setting up the Textile Park was in its final stage. "I am happy that cotton farmers of Punja...
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Shortage of workers hurts India`s textile production

Posted by Vibhore Lodha on Friday, February 11, 2011, In : Indian Market 
The Indian textile and clothing industry is confronted with huge shortage of labour, which has made the textile manufacturers in the country face some serious production issues.

Opining in this context, O.P.Garg, Chairman, Carpet Export Promotion Council (CEPC)told SME Times, "We are facing tremendous constraints due to the workers shortage at present. The demand of goods are there in the potential market but due to the workers limitation we are facing production issues in our units. To get p...
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India - DGFT invites bids for balance cotton yarn export quota

Posted by Vibhore Lodha on Monday, February 7, 2011, In : Indian Market 
The government has allowed fresh applications for exports of the balance amount of the 720-million kg cotton yarn quota for 2010-2011. However, traders will now have to register with the Director General of Foreign Trade (DGFT), instead of the textile commissioner.

The Ministry of Textiles had suspended registration after the 720 million kg cap for cotton yarn exports was not completed within the December 1 deadline. According to K Silveraju, secretary general of Sima (South India Mills’ As...
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Indian cotton export is a concern for the textile industry

Posted by Vibhore Lodha on Wednesday, February 2, 2011, In : Indian Market 

 

While addressing a gathering of about 400, during the inauguration of the 66th annual conference of Textile Association (India) in Bangalore on January 28th, Mr. M. Prabhakar Rao, Chairman of NSL Group, which is the home to India's largest seed company, Nuziveedu Seeds Pvt. Ltd., expressed the value loss to Indian textile industry by exporting raw cotton.

NSL Group is a conglomerate with interests in hybrid seeds, cotton, textiles, power and infrastructure. He briefed the audien...


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Ban on export of cotton waste

Posted by Vibhore Lodha on Friday, January 28, 2011, In : Indian Market 

Madurai: The Madurai Textile Exporters Association today demanded a ban on export of cotton waste to rein in the prices of cotton yarn and suggested regulated export of raw cotton to protect domestic textile units.

The move to allow export of cotton waste had pushed the prices of cotton yarn by about 15 to 20 per cent. This would dent the margin of the textile units in a big way, association President M Britto said in a release here.

Farmers'' interests were not involved in the export of ...


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Maheshwari Chanderi show at Mylapore

Posted by Vibhore Lodha on Friday, January 28, 2011, In : Indian Market 

Silken soft texture, cotton weaves that go to an incredible count of 400, and zari borders — these are what define the Maheshwari and Chanderi saris of Madhya Pradesh. And, both have a fascinating history.

The Chanderi weavers came to Madhya Pradesh from Dhaka nearly 300 years ago, while the present-day Maheshwari weavers' ancestors are from Surat, Gujarat. By the 1940s, both Maheshwari and Chanderi weavers had begun to weave with silk in the warp and cotton in the weft.

A sign of traditi...


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Arvind Limited witnessing growth in all business segments

Posted by Vibhore Lodha on Friday, January 28, 2011, In : Indian Market 
Arvind Limited, one of the largest integrated textile, apparel and branded apparel player have registered 611% growth in consolidated Net Profit for the quarter ended 31st December 2010. It has earned consolidated Net Profit of Rs. 48 Cr. as against Rs. 7 crores in the corresponding quarter of previous year on account of all round volume growth in a buoyant scenario for textile industry in India as well as globally.

The consolidated revenue for the quarter is up by 22% at Rs.1004 crores ...

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