The Palladam Hi-tech Weaving Park (PHWP), Palladam was the first park to be developed under the Scheme for Integrated Textile Parks (SITP) of Ministry of Textiles by availing 40 per cent grant from Central Government and 9 per cent grant from the State Government.
Month: January 2016
Total exports of textiles and garments from Vietnam to the USA gained a year-on-year increase of 11.7 per cent to US$9.88 billion from January to November 2015.
The South India Textile Research Association (SITRA) is working closely with the Indian Space Research Organisation (Isro) and the Defence Research and Development Organisation (DRDO) to come up with better products in technical textile.
The long awaited new textile policy, which aims to create 35 million new jobs and boost exports to over $300 billion annually over the next decade, is likely to be unveiled, may be within the next two months, according to Santosh Gangwar, Minister of State for Textiles.
Weaving industry has been progressing well in the last couple of years. The first boom was in 2004 and 2005, when weaving attracted a lot of investment. Then it slowed a bit. Again in 2012, one more boom period started.
The year 2015 was one of the best years for the processing industry. Looking at the current trends and the sentiments that unfolded at ITMA, 2016 will also be as good as the previous year. Corporates, which have done modernisation, will invest in expansion in the coming years.
The South India Textile Research Association (SITRA) will commission an incubation facility in another three months to support new ventures in medical textiles.