Home / Knowledge / News / Textiles / Prime Minister convenes meeting to bail out textile industry
Prime Minister convenes meeting to bail out textile industry
10
Dec '08
Dr Manmohan Singh
Dr Manmohan Singh
The Prime Minister of India, Dr Manmohan Singh is convening a meeting on Wednesday to discuss on steps to bail out the textile industry due to a sharp increase in Minimum Support Price (MSP) of cotton. This was revealed at the sidelines of an international conference by the Agriculture Minister, Mr Sharad Pawar and hoped that a solution would be worked out to the vexed issue.

It may recalled that recently, at the beginning of the new cotton season, the Government of India had announced a steep hike in MSP of cotton by as much as 25-40 percent due to which prices of cotton in the open market have increased sharply and are ruling at prices higher than those prevailing in global markets.

The textile industry had strongly opposed the hike in MSP by saying that domestic cotton prices will sky rocket at a time when international prices are displaying declining trends. Experts had also warned of a fall in exports and also prompt the sector to import cheaper cotton from abroad.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 18th Jan 2017

Government considering 100% FDI in single brand retail

The Government of India is looking at allowing 100 per cent foreign...

Courtesy: Walmart

Apparel/Garments | On 18th Jan 2017

Walmart to create 34,000 new jobs in the US

The world’s biggest retailer and also the biggest US private sector...

Courtesy: UN Department of Public Information

Textiles | On 18th Jan 2017

World economy expanded by just 2.2% in 2016: UN

The world economy expanded by just 2.2 per cent in 2016, the slowest...

Interviews View All

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Kerem Durdag
Biovation II LLC

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

Suresh Patel
Sidwin Fabric

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

Mark Paterson
Technical Absorbents Ltd

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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