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

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Apparel/Garments | On 25th Mar 2017

Net sales at Christopher & Banks fall 10% in Q4

Net sales totalled $85.0 million for the fourth quarter ended January ...

Courtesy: Li & Fung

Textiles | On 24th Mar 2017

Li & Fung forms new supply chain partnership with PVH Corp

Li & Fung Limited, the world's leader in consumer goods design,...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Suresh Patel
Sidwin Fabric

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

Silke Brand-Kirsch
Schlegel und Partner

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

Wendell Rodricks
Wendell Rodricks

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Tony Ward
Tony Ward

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

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:
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