SIMA CD & RA elects new office bearers

Managing director of Micrrocot Spinn India, CK Narayansaami has been collectively re-elected as the chairman of SIMA for 2015-16. While B Lakshminarayana, managing director of Van Tex Limited has been re-elected as the deputy chairman for 2015-16 as per SIMA's press release.

R Elango, executive director of Sangeeth Textiles Limited has also been re-elected for the post of vice chairman of SIMA CD & RA for 2015-16.

Narayansaami in his speech at the meeting said, “Cotton export is badly affected during the current season. As per trade estimates, it stands at 55 lakh bales in 2014-15 season, whereas exports in the previous season stood at 118 lakh bales.  As a result, because of reduced exports, closing stock of 2014-15 has been estimated at 52 lakh bales, 20 lakh bales more than the previous season closing stock of 32 lakh bales. “

He further added, “As far as 2015-16 season is concerned, cotton production has been anticipated to be at the same level as previous season production of 390 lakh bales. The actual production might drop by 10 to 15 lakh bales due the white-fly attack in Punjab, Haryana, Rajasthan and inadequate rain in Gujarat, Maharashtra and Karnataka.”

SIMA CD & RA is a registered non-profit organisation, established in the year 1974 by the textile mills in the Sothern States of Tamil Nadu, Andhra Pradesh, Karnataka and Pondicherry.  Its main objective is to promote the development of cotton farming for enhancing cotton production, productivity, and fibre quality so that the raw cotton may be made available at reasonable price to the textile mills.  (HO)

Fibre2fashion News Desk - India