Home / Knowledge / News / Textiles / Textile mills hit turbulence, 17 shut over past year
Textile mills hit turbulence, 17 shut over past year
22
Jul '16
The past one year has been bad for textile mills in the country with 17 cotton and man-made fibre textile mills across 8 states closing down.

The closures took place between June last year and May this year.

"The major reported reasons for closure include financial problems due to inadequate working capital, insufficient cash flow, increase in cost of product, squeezed profit margin, stressed assets etc," Minister of State for Textiles Ajay Tamta said in a written reply to the Lok Sabha on Thursday.

He said the ministry has no scheme for providing finance and technical support for the revival of closed mills.

Out of these 17 mills, six were in in Tamil Nadu, three each in Andhra Pradesh and Karnataka and one each in Telangana, Haryana, Maharashtra, Rajasthan and Uttar Pradesh.

At present, there are 1,420 cotton/man-made fibre textile mills (non-SSI), including mills of national textile corporation, operating in the country.

In reply to a separate question, Tamta said the Department of Agriculture is implementing Cotton Development Programme with focus on cropping system approach under National Food Security Mission in 15 major cotton growing states. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Courtesy: SIMA

Textiles | On 6th Dec 2016

Amma gave special attention for textile growth in TN: SIMA

Former Tamil Nadu chief minister J Jayalalithaa paid special...

Textiles | On 6th Dec 2016

Cash inflow will revive sales: Textile industry

The textile industry representatives are hopeful of revival of...

Courtesy: EFI Reggiani

Textiles | On 6th Dec 2016

EFI Reggiani shows inkjet textile solutions at India ITME

EFI Reggiani, a leading technology provider of a full range of...

Interviews View All

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search