Home / Knowledge / News / Textiles / 'Modernization of textile machinery welcome step' – Experts
'Modernization of textile machinery welcome step' – Experts
21
Apr '09
The stake holders from the textile and garment industry have welcomed the move of the government to provide a stimulus package to modernize obsolete machinery and in turn improve productivity of the companies.

Around 2,700 companies would be eligible for the package. Experts have said that this will help modernize the machinery which had an average age of 20 years and proved to be a hindrance in delivering productivity as well as quality.

Quoting from statistical data, experts say, the total production from the sector in 2008 stood at 1.34 million tons, of which 529,000 tons was earmarked for exports from the country and the rest for domestic consumption in the country.

Now the textile sector wants to follow the path set by the footwear sector and increase the domestic share of the sector, which would off course mean that export shipments from the sector may not reach the US $10.48 billion mark achieved in 2008.

Shipments from the textile and garment industry according to the experts have fallen by as much as 30 percent in the first three months of 2009 and expect the situation to worsen with each passing year and expect a beacon of hope only in 2010.

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 21st Sep 2017

UK fashion exports £10.7 bn in 2016; highest till now

Exports of British fashion goods rose to £10.7 billion in 2016, the...

Apparel/Garments | On 21st Sep 2017

BFC announces partnership with Chinese firm JD.com

The British Fashion Council (BFC) has forged a new partnership...

Textiles | On 21st Sep 2017

Indonesia’s textile exports may reach $15 billion by 2019

Indonesia’s textile-related exports are projected to reach $15...

Interviews View All

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Kerem Durdag
Biovation II LLC

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

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Silke Brand-Kirsch
Schlegel und Partner

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

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Bani Batra

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

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, 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

September 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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