Home / Knowledge / News / Textiles / Indian spinning industry set to incur huge losses
Indian spinning industry set to incur huge losses
25
May '11
Indian spinning sector is set to incur huge losses of about 164 million US dollars.

The one day closure on May 23rd by the Indian spinning sector has resulted in a loss of Rupees 200 crores (45 million US dollars). In addition, the planned production reduction for the next 7 days is expected result in a loss of Rupees 75 crores per day (17 million US dollars/day).

In speaking to this scribe from India at 11.30PM CST on May 24th, Mr. D. K. Nair, Secretary General of the Confederation of Indian Textile Industry (CITI) provided the economic loss figures and briefed that the CITI will appraise the situation during the first week in June for any further action.

In a statement, Mr. Shirshir Jaipuria, Chairman of CITI has informed that the one-day strike on Monday, May 23rd has been observed throughout India. The strike was led by CITI and all major spinning associations in India participated to highlight the current crisis situation in the spinning sector due to the restrictions imposed on cotton yarn exports by the Government of India. The restrictions were withdrawn effective April 1st, 2011.

Seshadri Ramkumar, Texas Tech University, USA


Must ReadView All

Textiles | On 24th Jun 2017

Applied DNA to tag cotton for 2017/18 US ginning season

Applied DNA, provider of DNA-based supply chain security,...

Apparel/Garments | On 24th Jun 2017

NPD Group launches Trend Tracker for apparel trends

Global information company the NPD Group has launched Trend Tracker,...

Textiles | On 24th Jun 2017

Cotton USA’s first innovation competition in UK ends

Cotton USA has announced the successful close to its first innovation ...

Interviews View All

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Angelina Francesca Cheang
MY ANJE

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mark Paterson
Technical Absorbents Ltd

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

Silke Brand-Kirsch
Schlegel und Partner

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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