Home / Knowledge / News / Textiles / Rise in demand stirs revival of spinning mills in India
Rise in demand stirs revival of spinning mills in India
20
Sep '12
Rise in demand for textile items has helped spinning mills in India to attain break-even, following which the mills are once again showing signs of revival. 
 
Speaking at the 53rd Annual General Meeting of South India Mills' Association (SIMA) at Coimbatore, Association Chairman S Dinakaran said power crisis, Centre’s inconsistent cotton export policies, lack of manpower and cotton price volatility caused the spinning industry to lose working capital worth over Rs. 55 billion.
 
He said owing to Government’s indiscreet cotton export policies and global cotton scarcity of about 10 percent, Indian textile industry experienced highest volatility in cotton prices during 2010-11 season.
 
The price of Shanker -6 variety of cotton which was around Rs. 38,000 per candy (1 candy = 355 kg) during October 2010, increased to Rs. 61,800 during end of March 2011, to again slip to around Rs. 31,000 per candy towards end of July 2011, he added. 
 
Considering all this, Mr. Dinakaran noted that now when the industry is back on the revival track, the Government should expedite implementation of the Rs. 350 billion debt restructuring package, to help the spinning industry retain its growth momentum.
 
During the 2011-12 season, cotton was cultivated on a record 12.178 million hectares, more than double the 1950-51’s acreage of 5.882 million hectares. Likewise, the yields also increased from just 3 million bales in 1950-51 to record 35.3 million bales, he said.
 
Surpassing the CAB’s estimates of 8.4 million bales, the country exported around 13 million bales during 2011-12 season, leaving back a stock of 2.8 million bales of inferior quality cotton for the domestic industry, which is the lowest ever closing stock in the past few years, the SIMA Chief added.
 
He said though 2011-12’s cotton cultivation acreage came to be about eight percent more than previous year, it is expected to register a marginal fall in 2012-13. However, the mills’ consumption in 2012-13 is expected to increase slightly due to improved market conditions, he noted.
 

Fibre2fashion News Desk - India


Must ReadView All

Ghana makes tax stamp compulsory on imported textiles

Textiles | On 27th May 2018

Ghana makes tax stamp compulsory on imported textiles

To curb illegal imports, Ghanaian authorities will put a tax stamp on ...

Courtesy: Vishal Mega Mart

Apparel/Garments | On 27th May 2018

Partners Group, Kedaara Capital taking over VMM

Partners Group, a private markets investment manager, and Kedaara...

Courtesy: Deckers

Apparel/Garments | On 27th May 2018

Deckers Brands sales soar 8.4% in Q4FY18

Deckers Brands, a global leader in designing, marketing and...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Lynda Kelly
Suominen Corporation

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search