Honorable Prime Minister of India Narendra Modi and Chancellor of Germany Angela Merkel visited Siemens AG and ABB booth at Hannover Messe 2015, the world?s biggest industrial fair. PM Modi has been actively furthered India as a manufacturing destination at Hannover Messe, promising an environment that is transparent, predictable, and stable.
Year: 2015
Registration is now open for the International Cotton Association?s (ICA) next major trade event – ?San Francisco 2015?. Taking place on October 30-31 and with over 700 delegates expected, San Francisco 2015 will be one of the highlights of the cotton calendar.
Since the government has included textile and textile equipment manufacturers under the ´Make In India´ programme, there were high expectations for help from the budget for achieving its high potential for increasing industrial production, generating additional employment and improving export earnings. Budget brings no cheer to either of the industry.
The current budget for 2015-16 is considered as growth oriented by various experts, but I think for textile Industry, it is not very promising budget. The Government´s vision of growing Indian textile and apparel industry to US$ 220 billion by 2020 needs more support and schemes from government. Unfortunately major demands of Industries have not been met in current budget.
The Indian textile industry, employing over 105 million people, has been pleading for several urgent measures relating to Technology Upgradation Fund (TUF) scheme, levies on man-made fibre duties, enhanced incentives under Focus Market Scheme to compensate partially, the disadvantages in the tariff rates for Indian textile products prevailing in various countries till the FTAs are finalised.
Danfoss India, a leading provider of climate and energy solutions, inaugurated its First Advanced Drives Laboratory set up at the premier Vellore Institute of Technology (VIT) as a part of its Industry Academia initiative to boost skilling in the manufacturing sector.
India is the second largest producer of man-made fibres (MMF) in the world with presence of large plants having state-of-the art technology. MMF textiles constitute almost two-third of the domestic textile market. However, India´s share in global exports of value -added textiles of MMF is miniscule.