MARKET & ECONOMY​

Presently the Indian textile engineering industry is fulfilling only 45-50 per cent requirement of the domestic market of Rs 15,000 crore, while exports about Rs 6,500 crore worth textile machines and accessories. It has targeted to reach to Rs 25,000 crore by 2025.

Cox & Kings, one of the leading tour operators in India offering various domestic and international travel packages, is offering thoughtfully worked out travel packages to suit exhibitors, visitors and independent travellers of ITMA Asia + CITME, which is scheduled from October 15-19, 2018 at Shanghai, China.

About 200 buyers from leading textile and garmenting companies from 40 countries will visit the diamond city to crack deals with textile companies of Surat and across the country at the second edition of Source India 2018, India’s largest man-made fibre (MMF) exhibition in September.

The India Government raised the import duties on a large number of textile apparels, fibres and related products such as carpets by up to 20 per cent. Spread across 37 broad tariff areas, the import duties, however, target products for which India?s imports are low.

ColorJet India Ltd, India’s only manufacturer and biggest Indian marketer of digital fabric printers has reinforced its No. 1 position by winning the TV100 Industrial Excellence Award 2018 in the ‘Largest Manufacturer of Digital Textile Printers in India’ category, thereby contributing aggressively towards Prime Minister Narendra Modi’s Make-in-India initiative.

The Lenzing Group is expanding its environmental leadership commitment. As a leader in wood-based cellulosic fibres, the Austria-based company is continuing its ambitious roadmap towards sustainability in textile and nonwovens industries, by investing more than €100 million in sustainable manufacturing technologies and production facilities until 2022.

The one-day Punjab Apparel and Textile Conclave proved to be beneficial for boosting investment in the state, as the government signed pacts worth Rs 455.34 crore, Minister for Industries Sunder Sham Arora said. During the conclave, organised in Ludhiana, MoUs worth Rs 455.34 crore were signed between the state government and nine prominent industries, Arora added.