Govt eyes Australia, Africa to boost textile exports

indexSource: Business Standard, Mar 11, 2016

Chennai: The Union textiles ministry is looking at Australia, the Commonwealth of Independent States and Africa to boost exports through bilateral agreements as free trade agreements (FTAs) with the European Union and the US are delayed.

The ministry is chasing a target of doubling textile exports in 10 years and is working on a new textiles policy to promote value-addition.Guidelines had been finalised for a revised Textile Upgradation Fund Scheme and these would be placed before the Cabinet, Textiles Secretary Rashmi Verma said on the sidelines of the India International Handwoven Fair in Chennai.

Read the rest of this entry »

Denim industry looks to increase share of exports

index.jpgSource: Business Standard, Feb 16, 2016

Ahmedabad: The Indian denimindustry is looking to gradually increase its share of exports from its current 35%. Experts feel that the industry will have to increase its capacity by another 300 million metres. The sector’s current share of domestic sales is 65%.

“Historically, denim has been one of the fastest growing apparel fabric segments, having grown by 500 million metres from 700 million metres in 2010 to 1.2 billion in 2015. Yet, there is a gap of another 300 million metres in India if the denim industry needs to tap its full export potential,” said P R Roy, chairman of Diagonal Consulting (India), which is organising the International Denim Conference in Ahmedabad jointly with the Confederation of Indian Textile Industry (CITI) on February 19 and 20, 2016.

Read the rest of this entry »

Govt plans 20 textile parks to boost industry

Source: ETRetail.com, Feb 01, 2016

aHaridwar: The Centre is in talks with Uttarakhand and some other states to set up 20 textile parks to boost the industry, Union minister Santosh Gangwar said here on Sunday. He added that the areas where these parks are set up will become industrial hubs.

“The central government has decided to set up 20 textile parks to boost textile industry in the country. It is already in talks with states, including Uttarakhand, so that land for these projects can be allotted,” he said. Read the rest of this entry »

Centre weaving textile policy to boost exports

Source: The Hindu Business Line, Jan 27, 2016

Mumbai: The Centre will soon unveil a textile policy to boost sagging exports and encourage investments in the sector. Inaugurating the 62nd National Garment Fair in Mumbai on Wednesday, Kavita Gupta, Textile Commissioner, said the draft of the new textile policy is ready and the final version would be announced soon.

“We see the slowdown in China as an opportunity and are looking at $40 billion of textiles exports this fiscal. The Textile Ministry would give full support to the industry in time of distress,” Gupta said. Textiles and clothing exports were at $41.4 billion in 2014-15 and $39.31 billion in 2013-14.

Read the rest of this entry »

India’s largest textile park to come up in Warangal

Source: The Economic Times, Jan 06, 2016

HYDERABAD: India’s largest textile park will come up in Telangana’s Warangal town, Chief Minister K. Chandrasekhar Rao announced on Wednesday. He said the proposed ‘cotton-to-garment’ park will be set up in an area of 2,000-3,000 acres. Read the rest of this entry »

TN to set up new textile park & allocate Rs 100 cr to fund MSMEs

Source: Business Standard, Sept 29, 2015

Chennai: Tamil Nadu Chief Minister J Jayalalithaa today announced new textile park and financial support for first generation entrepreneurs and MSME.In a statement under Rule 110 of the State Assembly, she said an integrated textile processing park will be set up in a 224 acre land at Thiruvadanai, Ramanathapuram district, at a cost of Rs 150 crore.

The park will have a water desalination plant of one crore litre capacity and 30 textile companies will be set up here at a budget of Rs 450 crore and will create direct employment to 6,000.

Jayalaltihaa said Tamilnadu Industrial Investment Corporation (TIIC) has been financially supporting first generation entrepreneurs and MSMEs to five further boost the state government would give Rs 100 crore as one-time capital for TIIC.

Read the rest of this entry »

Textile machinery market to double to Rs 45,000 crore in 7 years: Expert

Source: The Economic Times, Jan 15, 2015

MUMBAI: The size of India’s textile machinery industry is poised to double to Rs 45,000 crore in the next 7 years from the present Rs 22,000 crore on the back of new projects and emphasis on setting up textile parks, an industry expert has said.

“The growth in the sector and upcoming new projects along with government’s initiative to set up textile parks may boost the textile machinery industry. The market size of the sector is set to double to Rs 45,000 crore in the next 7 years from the present Rs 22,000 crore,” India ITME Society Chairman Sanjiv Lathia told PTI here.

Textile machines are used in fabrication and processing of fabrics, textiles, and other woven and non-woven materials. The industry witnessed a growth of 8-10 per cent to Rs 22,000 crore in 2014 from Rs 20,000 crore in 2013. Read the rest of this entry »

Follow

Get every new post delivered to your Inbox.

Join 209 other followers