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

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Urs Stalder
Sanitized AG

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

Suresh Patel
Sidwin Fabric

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search