India’s textile exports have plateaued during the past five to seven years. The domestic textile and apparel industry, including handicrafts, stood at $140 billion in 2018, of which $40 billion was exported to the world market.
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A village in the deep south of India starts manufacturing nonwoven shopping bags as part of “self-help†effort. Azhvarthirunagari, a village on the southeastern border of India, about 30 km from seashore is using nonwoven fabrics to manufacture multiple use shopping bags.
The Government’s decision to withdraw the Merchandise Exports from India Scheme (MEIS) with retrospective effect is likely to erode profit margins of textile players. It will also impact exports and fresh investment in the sector.
Atlas Copco’s Compressor Technique business area provides compressed air solutions; industrial compressors, gas and process compressors and expanders, air and gas treatment equipment and air management systems.
The finishing industry today demands machinery, which meets ecological requirements at the same time as enabling mills to operate profitably.
The Central government would address all issues in its new National Textile Policy, which is likely to be announced in a couple of months, Union Textile Secretary Ravi Capoor has said.
India’s annual rate of inflation, based on monthly wholesale price index (WPI), for January 2020, stood at 3.1 per cent over January 2019.