Home / Knowledge / News / Textiles / Don't fret, good times ahead, assures Textile Minister Vaghela
Don't fret, good times ahead, assures Textile Minister Vaghela
17
Nov '08
The 8th India International Textile Machinery Exhibition that opened in Bangalore, was inaugurated by Union Minister of Textiles Shankersinh Vaghela, on November 15.

During the event, the textile Minister said that the sector needs to keep its cool during this hard time of global meltdown.

“There are major challenges being witnessed by our country's textile sector. These gloomy prospects would not continue forever and things will change. One has to bide time,” said Minister.

Mr Vaghela said that even other major competitors like China and bangladesh are also coping this ongoing recession.

Mr Vaghela supported the textile mills importing cotton from Pakistan. He reasoned, “We have never done anything anti-industry. We reduced import duty when there was acute domestic scarcity of cotton in the country.”

As domestic prices of long staple cotton surged from Rs2,030 to Rs3,000 per quintal, and for medium staple cotton from Rs1,800 to Rs2,500 per quintal, mills started importing cotton to meet their demand.

Although Union Government's move to hike MSP was aimed at helping the farmers, input cost for spinning mills spiked up, leaving them at loss.

With over 400 participants, Mr Sanjay Jayavarthanavelu, President, Textile Machinery Exhibition along with other office bearers, were present at the inauguration function.

Must ReadView All

Courtesy: Creora

Textiles | On 28th Mar 2017

Hyosung holds Creora workshops in China, HK & Taiwan

South Korean specialty fibre producer Hyosung held a series of...

Apparel/Garments | On 28th Mar 2017

US withdrawal from TPP to not impact Vietnam garment exports

A high ranking official of the Vietnam Textile and Apparel...

Apparel/Garments | On 27th Mar 2017

NYCEDC announces $51mn package for NYC garment industry

New York City Economic Development Corporation (NYCEDC), in...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Jay Ramrakhiani
Occasions Elegance Wear

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Igor Chapurin
Chapurin

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

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
March 2017

March 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