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Browsing: Industry Update
For the cotton season 2015-16, the Cotton Advisory Board (CAB) has revised the cotton production estimate. It now stands at 338 lakh bales as against its earlier estimates of 352 lakh bales.
The Tamil Nadu government is gearing up to launch new schemes to uplift the State’s textile sector, which: increasing free power to handloom from 100 units to units 200 units a month and from 500 units to 700 units a month for the powerlooms.
On August 15, JMBT Beteiligungen AG acquired 100 per cent of the share capital of Benninger AG from Benninger Holding AG. With this acquisition Jakob Müller AG is expanding its position in the textile finishing sector.
India’s wool exports to the US and Europe on the decline, with the result the wool industry is shifting focus to markets such as Kazakhstan, Germany, China and Australia.
Paving way for the introduction of fixed-term employment in the textile and apparels sector, the Labour Ministry has notified changes in the rules of the Industrial Dispute Act, 1947.
India’s handicraft exports have increased by more than 8 per cent during the last fiscal, touching nearly Rs 31,000 crore, revealed Textiles Minister Smriti Irani in the Lok Sabha. “According to the provisional data available, the exports of handicrafts have shown an increase of Rs 2,414.79 crore from Rs 28,524.48 crore to Rs 30,939.27 crore — an increase of 8.46 per cent in rupees term in 2015-16 as compared to previous year,” she said.