MARKET & ECONOMY
The new textiles policy will focus on a three-pronged approach to boost the growth of Indian handicraft sector, which is facing tough competition from international players.
Textile traders in the country’s largest man-made fabric (MMF) wholesale market in Surat are upbeat following the decision of the Central Board of Excise and Customs (CBEC) to keep saree out of the ambit of made-ups.
The opening of ContiTech?s new facility for coated fabrics marks a special milestone in the company?s history in China. It is the first international production site for elastomer coatings outside Germany.
Textile mills have started to import cotton from West Africa and the US as the landed costs are on par with the prevailing market price in the country.
In order to meet the growing demand, the Karnataka Silk Industries Corporation (KSIC) is setting up a second integrated silk weaving unit in Mysuru at a cost of Rs 24 crore, which will begin operations by July 2017.
Today solar energy has established itself as one of the most non-conventional energy resources to steadily replace conventional energy sources such as the hydro electricity and thermal power, as the production of conventional energy is not likely to meet the future electricity demand of the world.
The Southern India Mills Association (SIMA) has urged Edapadi Palaniswami, the Chief minister of Tamil Nadu to remove 1 per cent Agricultural Market Committee Cess on cotton and cotton waste for the state budget of 2017-18.
Samil Spinning, a Korean cotton spinning company, has signed an agreement to acquire Buhler Quality Yarns, an American yarn manufacturer and subsidiary of Switzerland?s 205-year-old yarn maker Hermann Buhler.
Itema, a provider of advanced weaving solutions like weaving machines and integrated services, is exhibiting at KTM in Kahramanmaras, from April 6 to 8, 2017, in booth B1. Itema is born from the successful merger of textile machinery brands, such as Somet, Sulzer, and Vamatex.