Home / Knowledge / News / Textiles / SIMA Chief hails immediate vision set by Textiles Minister
SIMA Chief hails immediate vision set by Textiles Minister
02
Jun '09
The Indian Textile Industry has been ailing due to unprecedented global recession, hardening of bank interest rates, 40% hike in Minimum Support Prices for cotton, acute power shortage, drastic reduction in export incentives, undue delay in the disbursement of Government dues etc., for the past 2 years. Over 10 lakh people have lost their jobs and almost all textile mills including the blue chip companies have incurred huge cash losses during the last financial year.

Under these circumstances, the announcement made by Mr. Dayanidhi Maran, Union Minister for Textiles soon after the swearing in ceremony has given a confidence to the textile industrialists to revive the business from the recession and hoped to get an early regain in the global competitiveness.

Dr.K.V.Srinivasan, Chairman, The Southern India Mills' Association (SIMA), has hailed the immediate vision set by the Textiles Minister. He has also appreciated the Minister's target of 8 to 10% annual growth rate in the textile business and creation of 10 million new jobs in the next five years. He has welcomed the Minister's decision of establishing the National Institute of Fashion Technology in Coimbatore.

SIMA Chief has hoped that the Hon'ble Minister would quickly make a diagnosis of the ailing industry and architech a comprehensive package not only to revive the industry but also to make it a sun shine industry. He has assured full co-operation to the UPA Government, particularly the Union Minister for Textiles for achieving the target set by him.

The Southern India Mills' Association


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

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Mark Paterson
Technical Absorbents Ltd

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

Ashok Desai
Bombay Textile Research Association

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

Silke Brand-Kirsch
Schlegel und Partner

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

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 ...

Sonam & Paras Modi
SVA

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

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