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

L-R Manish Singhai, COO, Peter England; Vinai Kumar Saxena, chairman, KVIC; Ashish Dikshit, business head, ABFRL and Anshu Sinha, CEO, KVIC while signing agreement. Courtesy: ABFRL

Textiles | On 24th May 2017

Aditya Birla & KVIC enter into a strategic partnership

Aditya Birla Fashion and Retail Ltd (ABFRL) and Khadi and Village...

Courtesy: Jabong

Apparel/Garments | On 24th May 2017

Jabong Mood Store redefines online shopping in India

Jabong, India's leading online fashion retailer, has launched the...

Textiles | On 24th May 2017

Starlinger unveils FX 8.0 circular loom for fabric making

Starlinger, a leading supplier of machinery for woven plastic...

Interviews View All

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Suresh Patel
Sidwin Fabric

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

Urs Stalder
Sanitized AG

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Igor Chapurin
Chapurin

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

Robert Brunner
Devereux

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search