Home / Knowledge / News / Textiles / 40 sick spinning mills in Karnataka down shutters
40 sick spinning mills in Karnataka down shutters
Dec '11
All in all 40 spinning units in Karnataka including 37 private sector units have been closed down after turning sick.

The Karnataka State assembly was informed regarding this closure by State Minister for Textiles Varthur Prakash who informed that after 40 mills ceased operations due to financial constraints, now there are 66 mills functional in the state which includes 11 in the cooperative sector.

Apprising about the steps initiated by the state government to improve the financial condition of the spinning units functioning in the cooperative sector, the Minister said that National Cotton Development Corporation (NCDC) extended financial aid to these mills, and added that the Hulakoti based Gadag Cooperative Spinning Mill was provided a sum of Rs. 73.6 million to make it economically viable.

Mr Prakash further informed that the government also allocated Rs. 135 million for revitalization of the Banahatti based Banahatti Co-operative Spinning Mills.

The Department of Textiles has been directed to disburse Rs. 117 million in form of term loans and Rs. 13.5 million by way of share capital assistance to the said mills, and the Department has already released Rs. 94.4 million of the said sum.

The state government has also directed the Education Department to buy fabrics for producing school uniforms for students from economically backward sections from the Handloom Development Corporation.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 7th Dec 2016

New Texprocil chairman bats for increased UPI adoption

Ujwal Lahoti, the new Cotton Textile Export Promotion Council...

RBI Governor Urjit Patel addressing a press conference. Courtesy: Youtube

Textiles | On 7th Dec 2016

Defying expectations, RBI keeps repo rate unchanged

Defying market expectations, the Monetary Policy Committee (MPC) of...

The new OJ 59/1 B. Courtesy: Karl Mayer

Textiles | On 7th Dec 2016

Karl Mayer unveils new LACE.EXPRESS model for apparel

Germany’s leading textile machinery firm, Karl Mayer, has launched a...

Interviews View All

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Sonia Agarwal

‘The terms eco-friendly and organic are common but everyone perceives them ...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Lynda Kelly
Suominen Corporation

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

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Sonam & Paras Modi

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

December 2016

December 2016

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


Browse Our Archives


Advanced Search