Home / Knowledge / News / Textiles / Flawless system required to protect textile sector from speculators
Flawless system required to protect textile sector from speculators
Nov '10
According to the value-added textile sector, formulating a flawless system is the only way to protect the industry from hoarders and speculators who are disrupting and disturbing the cotton and yarn trade by creating false shortage of cotton, the raw material which is very much needed by the industry, and is also important for the economic growth of the country and for earning foreign exchange.

The sector demanded for the development of the system in such a pattern so that, none other than the spinners, value added textile exporters, ginners and domestic producers are allowed to register themselves with the Ministry of Textile (Mintex), or are permitted to trade in cotton and yarn.

For instance, say if a registered spinner sells 500 yarn bags to a registered domestic producer or a value added textile exporter, the former would be required to furnish a copy of this deal to Mintex. This is how the system would work, thereby allowing only the registered ginners and spinners to trade cotton and yarn, and this way Mintex too will have a proper account of all the transactions.

Further, the sector even expressed its anguish that besides hoarders and speculators, there are other players too who are disrupting the cotton and yarn trade, like a few of the spinning companies have set up their personal trading firms to whom they sell the yarn, against the interest of their shareholders. Thus, it is vital for the government to formulate a strategy to learn about the actual number of the spinning mills who own such trading firms.

Fibre2fashion News Desk-India

Must ReadView All

President Donald Trump; Courtesy: White House

Textiles | On 23rd Jan 2017

US textile industry eager to work with President Trump

The US textile industry is eager to work with President Donald Trump...

Textiles | On 23rd Jan 2017

China’s cotton imports down 39% in 2016

China’s total cotton imports declined by 39.1 per cent to ...tons in...

Textiles | On 23rd Jan 2017

MagnaColours develops new sustainability standard

MagnaColours, manufacturer of printing inks and ink bases, discharge...

Interviews View All

Jurgen Gauger

‘Buying crowdsourced or creative designs are much more appealing to the...

Angelina Francesca Cheang

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Mark Paterson
Technical Absorbents Ltd

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

Marcel Alberts

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

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Igor Chapurin

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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


Letter To Editor

(Max. 8000 char.)

Search Companies

January 2017

January 2017

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


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search