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.


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 21st Oct 2020

Not much gain for Bangla RMG exporters from PRC decision

Despite China offering duty-free market access to 97 per cent of...

Pic: Shutterstock

Retail | On 21st Oct 2020

UK BEIS Committee seeks firms' replies on forced labour

The Business, Energy and Industrial Strategy (BEIS) Committee of the...

Pic: Shutterstock

Retail | On 21st Oct 2020

NRF, EuroCommerce to reinforce cooperation on data flow

How to legally transfer customer and employee data across the...

Interviews View All

Top executives, Retailers

Top executives
Retailers

Weak rupee breeds inflation

Top executives, Fashion houses, India

Top executives
Fashion houses, India

With technology, it has become easier to ensure IPR

Cyril Pereira, Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Mirella Sardini,

Mirella Sardini

A leading manufacturer of automated machinery and equipment for the...

Marcel Moser,

Marcel Moser

Switzerland-based Benninger is a leading manufacturer of technologically...

Luciano Sardini,

Luciano Sardini

A consolidated reality in Italy and internationally, IMA Spa is well-known ...

Paolo Ocleppo, Sandvik Hyperion

Paolo Ocleppo
Sandvik Hyperion

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

Urs Stalder, Sanitized AG

Urs Stalder
Sanitized AG

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

Suresh Patel, Non Woven Federation of India

Suresh Patel
Non Woven Federation of India

The Non Woven Federation of India (NWFI), representing the regional...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Jay Ramrakhiani, Occasions Elegance Wear

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

Leave your Comments


October 2020

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


Advanced Search