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SIMA & PDEXCIL to study fabric market behaviour
05 Dec '15
2 min read
The Southern India Mills' Association (SIMA) and Powerloom Development & Export Promotion Council (PDEXCIL) have decided to join hands to study the fabric market on a continuous basis and give feedback to the spinning and powerloom sectors and also to the Government SIMA said in a press release.
Both the organizations jointly convened an interaction meet in Coimbatore on December 4 today to discuss the weaving yarn market and fabric market conditions and also devise a methodology to study the market behaviour, particularly in the domestic market.
SIMA and PDEXCIL members expressed their concerns about the unhealthy competition created both in the domestic and export markets. They hoped that the recently announced MEIS and IES export benefits for fabric and other finished goods could improve the market condition in the coming months.
They also felt that all the textile manufacturers in Tamil Nadu should focus making future investments only in wet processing and further value addition to sustain the viability of 47 per cent of the spinning capacity and 22 per cent of the powerloom capacity in the country. They decided to appeal to both the Central and State governments to give necessary assistance to create required processing capacity within Tamil Nadu, the release said.
The SIMA-PDEXCIL meeting came in the backdrop of the predominantly cotton based spinning and powerloom sectors in the country facing severe recession during the last 18 months due to the glut in the global market and higher duties imposed on Indian textile products when compared to other textile manufacturing countries.
The meeting was also prompted by the mass closure of dyeing units in Erode and other parts of Tamil Nadu that has now forced weavers in Tamil Nadu to process the fabric in other parts of the country resulting in high transport cost and increased lead time thus making them uncompetitive. (SH)
Both the organizations jointly convened an interaction meet in Coimbatore on December 4 today to discuss the weaving yarn market and fabric market conditions and also devise a methodology to study the market behaviour, particularly in the domestic market.
SIMA and PDEXCIL members expressed their concerns about the unhealthy competition created both in the domestic and export markets. They hoped that the recently announced MEIS and IES export benefits for fabric and other finished goods could improve the market condition in the coming months.
They also felt that all the textile manufacturers in Tamil Nadu should focus making future investments only in wet processing and further value addition to sustain the viability of 47 per cent of the spinning capacity and 22 per cent of the powerloom capacity in the country. They decided to appeal to both the Central and State governments to give necessary assistance to create required processing capacity within Tamil Nadu, the release said.
The SIMA-PDEXCIL meeting came in the backdrop of the predominantly cotton based spinning and powerloom sectors in the country facing severe recession during the last 18 months due to the glut in the global market and higher duties imposed on Indian textile products when compared to other textile manufacturing countries.
The meeting was also prompted by the mass closure of dyeing units in Erode and other parts of Tamil Nadu that has now forced weavers in Tamil Nadu to process the fabric in other parts of the country resulting in high transport cost and increased lead time thus making them uncompetitive. (SH)
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