During the recent weeks, cotton prices have increased by 50 per cent and are skyrocketing as multinational corporations are holding benami stocks with 0 per cent interest funding from their origin countries. Speculators via MCX, NCDEX are playing havoc with the cotton users, says Rikhab C Jain, Chairman, T T Group.
Month: July 2016
The National Handloom Development Corporation Ltd (NHDC) has kick-started one of its major initiatives ‘Silk Fab’ to connect consumers and weavers at one platform from Mumbai recently. Ujjwal Uke, IAS, Principal Secretary (Textile), Government of Maharashtra has inaugurated ’Silk Fab’ at World Trade Centre, Cuffe Parade, Mumbai. Around 100 agencies belonging to 14 states will be participating in this initiative.
The Southern India Mills’ Association based in Coimbatore has called for calmness among spinners in India in the wake of the downward cotton production estimate. To offset the abnormal rise in price in domestic markets due to speculation, the Southern India Mills’ Association’s (SIMA) Chairman M Senthilkumar has suggested larger mills to opt for imports to normalise price situation in India.
Indo Count Industries Limited (ICIL), one of the leading players in the home textiles industry introduced a range of high quality affordable bed linen for the Indian consumer recently at HGH India held at the Bombay Convention and Exhibition Centre. Since its inception in 1988, Indo Count specialises in providing end-to-end bedding products that solely focus on creating all-encompassing sleep experiences.
The announcement of portfolios for Prime Minister Narendra Modi’s new-look Cabinet saw some big portfolio changes among the existing ministers. In one such change, Smriti Irani will now take charge as Textiles Minister. She has taken over from Santosh Kumar Gangwar, who has now been given the Finance department. Ajay Tamta will also be given an active role in the Textiles Department. Irani was earlier the Minister of Human Resource Development. She joined the Bharatiya Janata Party in 2003. She became Vice President of the Maharashtra Youth Wing in 2004.
The announcement of portfolios for Prime Minister Narendra Modi’s new-look Cabinet saw some big portfolio changes among the existing ministers. In one such change, Smriti Irani will now take charge as Textiles Minister. She has taken over from Santosh Kumar Gangwar, who has now been given the Finance department. Ajay Tamta will also be given an active role in the Textiles Department.
Keisokki, which is represented in India by the Vadodara-based Thymas Electronics Pvt Ltd, is one of the largest suppliers of yarn clearers in India.