The predominantly cotton based textile industry has been producing almost 75 per cent of the spun yarn from cotton and therefore, this industry has been subjected to crisis due to volatility in the prices.
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TUF scheme of the Ministry of Textiles, Government of India can be cited as one of the best examples to demonstrate the influence of government fiscal policy and focused financial assistance
Despite having production capacity, India lost production opportunity of 5,00,000 tonne in volume and Rs 5,000 crore in value.
At a recent 5th edition of Entrepreneur India Awards 2015 held in New Delhi, Mustang Socks & Accessories was honoured with the ‘Entrepreneur of the Year in Manufacturing Business-Exports’ received by Lubeina Shahpurwala, Co-Founder &Director.
Severe competition on global level and lack of initiatives and direction on the domestic front have made a dent in India´s textile exports with a dip in figures for FY 2014-15, diminishing the scope of achieving the cherished goals. S Joseph & M Karthik take an overall look at the scene.
Despite some reduction in the export of Italian textile machinery to the traditional markets of China, India and Turkey, Italian textile machinery industry is optimistic of the rest of the 2015 and 2016 and is also having a positive outlook on the long-term prospects.
Cotton imports by China in June have fallen by 26 per cent already. The see-sawing of prices in major countries including India is causing a lot of anxieties. Chinese prices are under pressure from significant left-over commercial stocks as well as sales of state reserve cotton, kicked off recently.