An amount of Rs 288.4 crore have been released for setting up of textile parks in the country during the last three years,´ Textiles Minister Santosh Kumar Gangwar said.
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Arvind Limited, one of the largest integrated textile and branded apparel player, has bagged the first prize in the textile sector in the National Energy Conservation Award 2014 of the Ministry of Power, Government of India.
The government has launched four schemes, including a technology mission, for promotion and growth of technical textiles. Technical textiles are materials manufactured primarily for their technical performance and functional properties rather than aesthetic and decorative purpose.
Ludwigshafen-based BASF recently announced its major investment plan in superabsorbent technology, which is worth about $625 million.
ACIMIT, the Association of Italian Textile Machine Manufacturers, participated in the recent business mission in Vietnam, promoted by Italy´s Ministry of Economic Development and Ministry of Foreign Affairs and organised by the Italian Trade Agency.
The Government of India announced the minimum support price (MSP) for Kapas (seed cotton) for the current season (October 2014-September 2015).
Reliance Industries Limited (RIL) and Shandong Ruyi Science and Technology Group Co Ltd, China (´Ruyi´) (through its wholly owned subsidiary), have executed definitive agreements for a joint venture in textiles.