MARKET & ECONOMY
Reduction in excise duty on man-made staple fibres of Chapter 55 and filament yarns of Chapter 54.
Interest rates to be capped at 7% for exporters. Expansion of interest subvention scheme to the entire MMF textiles sector. Best FTA treatment to SEZ units. Special Additional Duty (SAD) on MMF. 4% SAD on all man-made fibres should be abolished.
The Narendra Modi-led government recently elected Santosh Gangwar as the Minister of State for the Ministry of Textiles. He was educated in Rohilkhand University, Bareilly and at University of Agra.
The Southern India Mills´ Association (SIMA) representing the organised textile industry in South India is organising SIMA Texfair 2015, 9th edition in its series and also SIMA Farm to Finish Expo 2015, 2nd edition in its series during January 9-12, 2015 at CODISSIA Trade Fair Complex, Coimbatore.
Three big challenges were highlighted by Dr Bryan Haynes, Director, Global Enterprise Research and Engineering, Global Nonwovens, Kimberly-Clark for effective utilisation of nonwovens in the medical and consumer product sectors.
Arvind OG Nonwovens Private Limited (AOG), a joint venture between Arvind Ltd (India) and OG Corporation (Japan), opened its manufacturing facilities near Ahmedabad, Gujarat, on 31 May 2014 at an investment of about Rs 50 crore.
Doosan Infracore Construction Equipment (Doosan) has announced the launch of three new engines that comply with the off-road Stage IV emissions standards. Martin Knoetgen, President EMEA at Doosan,
Single-use medical nonwovens market, has rebound from saturation level and is expected to grow at about 5 percent. Dave Rousse, President of the United States based Association of the Nonwoven Fabrics Industry-INDA
Arvind Limited, one of the largest integrated textile and branded apparel players, has recorded strong growth in the consolidate revenue by 34 per cent at Rs 1,879 crore for the quarter ended 31st March 2014, as against Rs 1,406 crore in the corresponding quarter of the previous year.
India has overtaken Germany and Italy to emerge as the world´s second largest textile exporter.