Home / Knowledge / News / Textiles / 'Revival of sector depends on govt support' – Cheslind textiles
'Revival of sector depends on govt support' – Cheslind textiles
24
Jun '09
The textile and clothing sector has received a battering since the last few months due to the impact of the recessionary trends prevailing in global markets. Companies are either cutting down production or are shutting down units, which is leading to an increase in unemployment levels. To get a clear picture of the current and future situation, Fibre2fashion has taken the initiative to speak to a few leaders from the sector. To begin with, we spoke first to Mr Prakash Maheshwari, Director of Cheslind Textiles Ltd.

Cheslind Textiles is a professionally managed and growth oriented company engaged in manufacture of Single, TFO doubled and gassed Yarns. The company operates around 64,500 spindles and produces 6,000 MT of yarn per year and it is a subsidiary of RSWM Limited, a LNJ Bhilwara Group Company. The main unit of the company is located at Bagalur (Tamil Nadu) and the TFO unit is located at Pondicherry. Cheslind works with quality conscious end users in Italy, Switzerland, Portugal, Spain, Turkey, Korea, Japan, Taiwan, Bangladesh and the Middle East.

Mr Maheshwari was very kind enough to spare time from his busy schedule and first began by giving a very detailed assessment by saying, “Generally speaking, on account of global melt down and impact of the recessionary trends prevailing in global markets, there is a great deal of suffering to textile and clothing sectors also. The gap between supply and demand has caused unhealthy competition within our country and across the countries for global trade. When considering the export business, it gets further affected on account of fluctuating rupee/dollar relationship in India and also on account of fluctuating foreign currency relationship in most of the importing countries”.

“At Cheslind, we operate 64,512 spindles, manufacturing medium and fine count 100% cotton yarn. We are suffering additionally on account of power cuts, power tripping and other related issues causing losses. The alternative source of power i.e. oil based diesel generating sets are no more economical to operate with increased cost of fuel. The situation becomes worse when there is no availability of power during the so called peak timings i.e. 6 pm to 10 pm. All these factors lead to extra cost of production and deterioration in quality of the product because of interruptions”, he added.

“Other issues concerning the textile and clothing industry in genera,l relate to availability and pricing of cotton where an abnormal increase in MSP has its impact. The international price of cotton is lower than those prevailing in Indian markets which are a matter of concern for business. High interest costs, blocking of funds in Cenvat, TUF interest subsidy, DEPB, duty drawback etc., is causing serious concern about availability of working capital for running day to day operations. It has further worsened on account of continued cash losses and on account of factors mentioned above, there are production cuts and closing down of units even which is leading to an increase in unemployment levels”, he continued saying.

Must ReadView All

Textiles | On 26th Apr 2017

Kering's consolidated revenue growth rises 31.2% in Q1

The consolidated revenue growth for luxury group Kering for the first ...

Courtesy: SKF

Textiles | On 26th Apr 2017

SKF brings predictive maintenance for machinery to India

SKF India, a global supplier of bearings, seals, mechatronics,...

Textiles | On 26th Apr 2017

Gap, Athleta to increase use of sustainable fibres

Gap, one of the world's most iconic apparel and accessories brand and ...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

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

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Ashok Desai
Bombay Textile Research Association

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

Mark Paterson
Technical Absorbents Ltd

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

Igor Chapurin
Chapurin

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

Mike Hoffman
Gildan Activewear SRL

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

Bani Batra

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

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
April 2017

April 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