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.
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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.
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.
Heading into the second half of the year, the global apparel fabrics and accessories industry’s attention has begun to focus on the 2016 Autumn Edition of Intertextile Shanghai Apparel Fabrics, which will be held from October 11-13. Over 5,000 exhibitors from more than 25 countries and regions will take part and showcase an all-encompassing range of products across 260,000 sq m of exhibition space at the Nation Exhibition and Convention Center, Shanghai.
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.
The total foreign direct investment (FDI) registered in Vietnam in the first half of the year reached more than $11.2 billion, the Foreign Investment Agency (FIA) said. This is a significant surge of 105 per cent against the same period last year. Of the total, $7.5 billion came from 1,145 newly licensed projects, representing an yearly increase of 95 per cent in capital and 56 per cent in the number of projects.