10 per cent import duty on cotton is a severe blow for cotton textile value chain.
SIMA appeals PM for withdrawal.
Browsing: Indian textile industry
Addressing FICCI TAG 2021, 12th annual conference on the theme ‘Repositioning Indian Textiles and Strategising for Growth in the Post-COVID World’, Ajay Arora of D’décor said digitisation is key to growth in Indian textile industry.
ICRA, a leading rating agency, said that the textile industry’s performance will go back to pre-COVID levels in the next fiscal year owing to increase in demands from the domestic as well as export markets.
A.T.E. ties up with global leaders like Truetzschler Man-Made Fibers, CMC USA, and Zimmer, Austria, to offer all equipment needed for carpet manufacturing.
The global apparel demand is expected to boost at a steady CAGR of 5 per cent to grow from the current $1.9 trillion to reach $2.6 trillion by 2025.
On November 11, 2020, the Union Cabinet gave its approval to extend the PLI scheme to textile products along with nine other new sectors entailing additional financial outlay of Rs 1,460 billion over a five-year period.
Except spinning, majority of the textile and apparel machinery demand of India is being fulfilled through imports, especially for investments in latest technology machines by large/organised mills.