The expectation from the new government in the centre was very high. However the situations at the ground level did not alter much. The government´s attention was concentrated on macro issues. This could not lift the morale of the industry.
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Anuj Bhagwati, who now heads the A.T.E. Group, joined the Group in 1994. He has been actively involved in a wide range of activities in the group: he introduced IT to the group, managed several companies, put together joint ventures, and has been a part of divestments, turnarounds, start-ups and scale-ups. In the process he has transformed A.T.E. into a modern and technology oriented group.
Imports of fabrics by China in 2013-14 is Rs 5,500 crore, which is grossly undervalued to the extent of at least 50 per cent. Therefore, actual value will be over Rs 8,000 crore. Imports of fabrics consist of manmade (polyester, viscose and nylon) fibres and yarns as India is the net exporter of cotton yarn and raw cotton to China.
´The Textile Upgradation Fund Scheme (TUFS) is an interest subsidy scheme for upgradation of technology as part of measures to boost textile and jute sectors. Some say it is now plagued by issues including non-allocation of subsidy and delayed reimbursement´.
The Cotton Association of India (CAI) has released its first estimates of the crop for the 2015-16 season beginning on October 1 at 380 lakh bales of 170 kg each. This is almost similar to the output of 382 lakh bales achieved in the 2014-15 season.
The Hong Kong Trade Development Council (HKTDC) organised a seminar in New Delhi to introduce, describe and communicate how best to use its Small-Order Zone system. The HKTDC Small-Order Zone Online Transaction Platform is a buyer-oriented online sourcing platform for direct sourcing of quality products in small quantities.
The seventh edition of Yarnex and fourth edition of TexIndia, will take place concurrently from September 10-12, 2015, at the India Knit Fair Complex in Tirupur.