Home / Knowledge / News / Textiles / “Sunset to sunrise” – Minister on textile sector
“Sunset to sunrise” – Minister on textile sector
27
Oct '08
7 textiles parks to be set up under sitp in gujarat these parks to attract an investment of rs. 3,035 crore and generate employment for 98, 000 workers.

Shri Shankersinh Vaghela, Union Minister of Textiles said that the biggest achievement of the UPA Government was to turnaround the Indian Textiles from Sunset to Sunrise sector. He said this while addressing a press conference at Ahmedabad.

He said that the rationalization of fiscal duties undertaken during the last three years has also provided a level playing field in all segments of the industry, resulting in the holistic growth of the industry.The Minister said that the textiles sector has witnessed a spurt in investment during the last four years and the investments between 2004-08 were Rs. 1,04,506 crore and they are expected to touch Rs. 1,50,600 crore by 2012. This enhanced investment will generate 17.37 million jobs by 2012.

The Minister said that the cotton is the main stay of our textiles industry. With the launching of Technology Mission on Cotton in 2000 and introduction Bt Cotton seed in 2002 and due to the focused support provided by the Government in recent past, the cotton situation has radically improved.

Our production has reach a level of 31.15 million bales in the cottons season 2007-08, and it is estimated that it will reach a record level of 32.20 million bales. The quality of Indian cotton has improved significantly and our yield will reach 591 kg. per hectare this cotton season.

We are the second largest producer, exporter and consumer of cotton. The competitiveness of our cotton is also reflected in the share of cotton in fibre consumption, which is 60% of total fibre consumption. The share of cotton in the textiles and clothing exports is more than 75%, he added.

Shri Vaghela said that the Government is operating the Minimum Support Price (MSP) Scheme through the Cotton Corporation of India Ltd. (CCI) to ensure a minimum return to the farmer. To stabilize the long term cotton production in the country and to help the farmers, while balancing the interests of textiles industry, the MSP for cotton season of 2008-09 has been substantial raised, said Vaghela.

The MSP of medium staple cotton of length group 24.5 mm to 25.5 mm, has been raised by 39% to Rs. 2,500 per quintal, compared Rs. 1,750 to 1,800 per quintal in 2007-08. The MSP for long staple variety of length group 29.5 mm to 30.5 mm has been raised to Rs. 3,000 per quintal in the cotton season of 2008-09 from Rs. 2,250 per quintal in the cotton season of 2007-08.

Shri Vaghela informed that the higher export of raw cotton had an impact on the cotton prices which shot up to historic highs in the current cotton season. Since October-end 2007 till July 2008, the cotton prices had been higher by around 20% to 40% compared to last year.

The opening cotton prices during the fiscal 2007-08 had been higher by around 4% to 17% as compared to previous year. This was affecting the viability of textiles mills, and on the persistent demand of the Industry the Government abolished import duty of 14.7%, and drawback benefits on raw cotton w.e.f. July 8, 2008. This has helped to stabilize the prices.


Must ReadView All

Apparel/Garments | On 25th Jun 2017

Half of 7,000 new apparel online each day target women

Adobe has released its first Digital Price Index for apparels,...

Textiles | On 25th Jun 2017

First Insight, Chico's FAS enter partnership

First Insight, a technology company transforming how retailers make...

Apparel/Garments | On 25th Jun 2017

Expand changing use of social and web resources

With over 400 million impressions to date and web traffic of over two ...

Interviews View All

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Suresh Patel
Sidwin Fabric

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Wendell Rodricks
Wendell Rodricks

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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:
June 2017

June 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