Home / Knowledge / News / Textiles / 'Donot meddle with market forces' – CEO, NSL Textiles
'Donot meddle with market forces' – CEO, NSL Textiles
16
Jun '11
Mr Ajit Mantagani
Mr Ajit Mantagani
The recent government decision to permit an additional one million bales (1 bale = 170 kg) of cotton for export has not gone down well with the Indian textile sector. The Indian government had earlier put a cap on cotton exports at 5.5 million bales for the current cotton season (October to September).

However, the ginners and farmers have welcomed the move. In a recent exclusive interview with fibre2fashion, Mr Anand Popat, General Secretary – Saurashtra Cotton Ginners Association was infact optimistic that, the government would permit export of an additional 1.5 million bales, apart from the one million bales.

In an earlier exclusive interview with fibre2fashion, Chairman of All Pakistan Textile Mills Association (APTMA), Mr Gohar Ejaz, had said, “APTMA will ensure that free market mechanism should provide international prices to the farmer which helps the whole sector unlike India which has let down both, the farmers and the textile industry. APTMA has clearly informed the government about a three million cotton bales shortage, but we will still continue cotton exports, so that the farmer is ensured international prices”.

In a bid to get a counter view from the textile sector, fibre2fashion spoke exclusively with Mr Ajit Mantagani, CEO of Hyderabad based – NSL Textiles Ltd. NSL is a 'Cotton to Clothing' company and is poised to emerge as one of the biggest players in the cotton textiles and garment segment.

Mr Mantagani said, “Many policies related to export of cotton, yarn, etc in the last 6-8 months have often been good decisions at the wrong time. When we should have already cleared yarn exports in the month of December-January, we did not do it. And ultimately when the government agreed to our demand for export of yarn in the month of April, the world market was already flooded with yarn and there was a lesser demand.

“So, right now the decision to permit yarn exports hasn't benefited the industry and the prices are also very low. Some of the export prices of yarn are lower than domestic prices, along with which, yarn prices have also crashed in the last few months.

“Now the same thing is happening with cotton. Worldwide demand for cotton has fallen. The cotton inventories which the mills the world have, has now been extended by at least a couple of months, because the yarn uptake is not as much as it was originally thought, when people bought cotton and that too at a high price.

Must ReadView All

Courtesy: SIMA

Textiles | On 6th Dec 2016

Amma gave special attention for textile growth in TN: SIMA

Former Tamil Nadu chief minister J Jayalalithaa paid special...

Textiles | On 6th Dec 2016

Cash inflow will revive sales: Textile industry

The textile industry representatives are hopeful of revival of...

Courtesy: EFI Reggiani

Textiles | On 6th Dec 2016

EFI Reggiani shows inkjet textile solutions at India ITME

EFI Reggiani, a leading technology provider of a full range of...

Interviews View All

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search