Home / Knowledge / News / Textiles / Govt focus required to stabilise textile industry
Govt focus required to stabilise textile industry
11
Mar '10
With cotton prices once again going up, a continuous marginal hike has been noted in the prices of yarn which has led to a fall in demand, but a weaker rupee has helped stimulate the exports.

Also a new notification has been issued, according to which the export limit for cotton yarn has been further reduced from 50 million kgs to 35 million kgs per month, for next four months.

As laid down in the notification, previous exemptions in respect of yarn products like lycra, dyed, heather grey or mÈlange, slub or bleached or singed have also been done away with, by deleting the same from previous notification that was issued on January 14, 2010.

Also henceforth only the registered units will be able to export the value-added yarn which fetches price of $3.5 per kg or more, in excess of quota.

In spite of the problems, about 50 textile groups still have optimistic and wider business prospects. But on the other side it has proved to be a losing proposition for many of the industrialists. Thus, many of them have either closed down or are on the verge of doing so.

A hike in the prices of yarn was noted subsequent to the export ban, and the fresh notification capping yarn export at 35 million kgs from 50 million kgs per month may lead to a further hike in prices.

Local markets are experiencing dearth of yarn owing to a sharp fall in production, as due to reasons like insufficient power and gas supply the spinners are functioning at two-third of their capacity. Moreover, there has been a sharp increase in the cost as the value-added sector was making use of furnace oil or diesel to generate electricity.

A value-added producer observed that his monthly gas bill averaged Rs 10 million, but because of the switch from gas to furnace oil the cost had increased to Rs 30 million.

If government comprehensively addresses the industry, then that may turn out to be the best solution for dealing with all the problems that are being faced by the textile industry. A reliable infrastructure needs to be developed for the industry by the government, at the earliest.

Fibre2fashion News Desk - India


Must ReadView All

EU, Japan finalise Economic Partnership Agreement

Textiles | On 18th Dec 2017

EU, Japan finalise Economic Partnership Agreement

Building on the political agreement reached in principle during the...

WTO, ITC launch cotton portal to enhance transparency

Textiles | On 18th Dec 2017

WTO, ITC launch cotton portal to enhance transparency

The World Trade Organisation (WTO) and the International Trade Centre ...

India much behind China in containerised cargo capacity

Textiles | On 18th Dec 2017

India much behind China in containerised cargo capacity

India’s total containerised cargo capacity of 8.75 million...

Interviews View All

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Luke Otten
Wigwam Mills Inc

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

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Akta Adani
India Boulevard

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

Mike Hoffman
Gildan Activewear SRL

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

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

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

December 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
68.1%
No
13.8%
Skip
18.1%

Total Votes: 94

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
62.8%
No
29.8%
Skip
7.4%

Total Votes: 94

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
9.6%
Skip
3.2%

Total Votes: 94

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
81.9%
No
8.5%
Skip
9.6%

Total Votes: 94


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