MARKET & ECONOMY​

The Cotton Association of India (CAI) has placed the cotton crop for the season 2014-15 beginning on 1st October 2014 at 396.00 lakh bales of 170 kg each. The projected Balance Sheet drawn by the CAI for the year 2014-15 estimates total cotton supply at 465.90 lakh bales while domestic consumption is estimated at 310 lakh bales thus leaving an available surplus of 155.90 lakh bales.

The United States cotton producers are focusing their efforts to deliver quality cotton this year. A group of cotton producers, researchers, extension specialists, policy staff, industry personnel and bankers gathered in the Lubbock office of Plains Cotton Growers (PCG) to discuss the state of the cotton industry.

Demand for carpets and rugs in the US is projected to advance 4.5 per cent annually to 14.6 billion square feet in 2019, valued at $16.2 billion. Growth will be spurred by rebounding building construction expenditures and continuing consumer interest in replacement and remodeling projects, such as the removal of worn or out-of-style carpets & rugs.

The Southern India Mills? Association (SIMA) jointly with PSG institutions established a Textiles Technical Training Institute (TTTI) exclusively for training the fitters and electricians at Nilambur, Coimbatore as one of its platinum jubilee commemoration activities.

The Confederation of the Indian Industry signed two separate Memoranda of Understandings (MoUs) with Siemens Ltd and Hitachi India Ltd to spearhead the conceptualization and implementation of pilot projects in Smart Cities.

Welspun Global Brands Ltd, India’s largest specialty company in the home furnishing segment, launched their new Spring-Summer 2015 catalogue of its domestic brands ? SPACES Home & Beyond and Welhome. The catalogue for both the brands speaks about the evolutionary spirit and the essence of Life that has on natural spontaneity.

In to its 12th edition, the 2015 edition of the Fabrics & Accessories Trade Show (F&A Show) returns from March 12-14, 2015 to the Trade Centre, Whitefield, Bengaluru and is set to offer an enhanced all-round sourcing experience with a large number of exhibitors showcasing a wide range of yarns, fabrics, accessories and services.

The Karnataka Government has earmarked 1,000 acres for the upcoming textiles park at Yadgir in north Karnataka. The Government intends to also develop an integrated park at Yadgir. The Karnataka Government is also planning to develop smaller textile parks at various places such as Vijayapura, Ballari and Chamarajanagar districts.