MARKET & ECONOMY​

The Maharashtra Government will develop an integrated textile park on the sprawling 345 hectare of land in Malegaon. The Government took a decision to hand over the land to the Maharashtra Industrial Development Corporation (MIDC).

Uttar Pradesh-based GHCL, a leader in home furnishings, plans capacity addition and wants to move focus from exports to the burgeoning home textiles market even as textile manufacturers continue protests over GST.

Pakistan has lost its textile export share in global market by 23 per cent from 2.2 per cent to 1.7 per cent raising questions on economic and trade policies of government functionaries, unfolds the latest presentation on restoration of viability and growth of textile industry prepared by the All Pakistan Textile Mills Association (APTMA).

In order to ensure availability of cotton for domestic mills, the Indian Government had directed Cotton Corporation of India Ltd to sell its stock of cotton (cotton season 2015-16), purchased under MSP, to spinning mills in the micro small medium enterprise (MSME) category to contain fluctuation in cotton prices.