Union Minister of State for Textiles Santosh Gangwar said the national textile policy will be finalised soon and it is likely to be ready by the month of April. Speaking to Indian Textile Journal, Gangwar said, ´The national textile policy will be finalised soon. May be at the end of April.
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The long awaited new textile policy, which aims to create 35 million new jobs and boost exports to over $300 billion annually over the next decade, is likely to be unveiled, may be within the next two months, according to Santosh Gangwar, Minister of State for Textiles.
For the man-made fibre industry (MMF) in India, its disgruntlement is turning into unceasing aggression. The reasons are many: China exports 65 per cent of manmade textiles out of its exports of $650 billion while India´s share of manmade textiles is hardly 20 per cent out of its exports of $40 billion.
Sainit Export is one of the leading companies representing several European and Far East companies in India in the field of technical textiles. The company offers plants, projects and machinery for coating, flocking, lamination, composites, transfer films and transfer printing papers, lamination films, etc.
Two new chapters, a plethora of new product launches at the event and much improved infrastructure – these are the promises that the India-ITME Society extended during a recent interaction the media had with its Chairman Sajiv Lathia and the Executive Director Seema Srivastava, at the Hotel Trident in south Mumbai.
Textiles is India´s foremost manufacturing industry and has a significant impact on the economy since it contributes to industrial output, employment generation and the export earnings of the country. With contribution of about 14 per cent to the industrial production, 4 per cent to the GDP and 13 per cent to the country´s total export earnings, the industry provide direct employment to over 45 million people.
The 2008 recession was another defining moment in the life of Indian textile industry, and a study by Rajan Nagpal & Ronak Agarwal reveals the effect of the slowdown on the return on equity % and the profit margin % of the major textile firms following that period.