Home / Knowledge / News / Textiles / Don't fret, good times ahead, assures Textile Minister Vaghela

Don't fret, good times ahead, assures Textile Minister Vaghela

17
Nov '08
The 8th India International Textile Machinery Exhibition that opened in Bangalore, was inaugurated by Union Minister of Textiles Shankersinh Vaghela, on November 15.

During the event, the textile Minister said that the sector needs to keep its cool during this hard time of global meltdown.

“There are major challenges being witnessed by our country's textile sector. These gloomy prospects would not continue forever and things will change. One has to bide time,” said Minister.

Mr Vaghela said that even other major competitors like China and bangladesh are also coping this ongoing recession.

Mr Vaghela supported the textile mills importing cotton from Pakistan. He reasoned, “We have never done anything anti-industry. We reduced import duty when there was acute domestic scarcity of cotton in the country.”

As domestic prices of long staple cotton surged from Rs2,030 to Rs3,000 per quintal, and for medium staple cotton from Rs1,800 to Rs2,500 per quintal, mills started importing cotton to meet their demand.

Although Union Government's move to hike MSP was aimed at helping the farmers, input cost for spinning mills spiked up, leaving them at loss.

With over 400 participants, Mr Sanjay Jayavarthanavelu, President, Textile Machinery Exhibition along with other office bearers, were present at the inauguration function.


Interviews View All

Saket Garg, Garg Corporation

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Rajiv Sirohi, Shara

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Textile industry, Head honchos

Textile industry
Head honchos

South India has a very strong manufacturing base

Iacopo Pardini,

Iacopo Pardini

Founded in 1953, Italian engineering company Arioli Spa started...

Arup Chakraborty,

Arup Chakraborty

Mirrorsize is a US-based start-up that provides artificial intelligence...

John Kelley,

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Tiasha Renganathan, Twinery Innovations by MAS

Tiasha Renganathan
Twinery Innovations by MAS

Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...

Kai Poehler, Voith Paper GmbH & Co. KG

Kai Poehler
Voith Paper GmbH & Co. KG

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

Eric Scholler, Groz-Beckert

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

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

Rajesh Pratap Singh, Rajesh Pratap Singh

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

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

Leave your Comments


October 2019

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

news category


Related Categories:

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search