The Southern India Mills’ Association (SIMA) has fervently appealed to the Union Finance Minister to withdraw the cotton import duty, as the duty is severely hurting the global competitiveness of the Indian textile and clothing industry.
Browsing: Indian Textile
Indian Chamber of Commerce has rolled out their brand new virtual platform to exhibit the elegance of Indian textile, handloom, apparel, khadi, and jute by MSMEs.
Textile, engineering, leather and infrastructure clusters of Tirupur, Coimbatore, Kanpur and Durgapur are among the top industries pumping additional investments into their businesses by taking advantage of the government’s Rs 3 lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for meeting the liquidity needs of industries during the COVID-19 crisis.
The new textiles policy will focus on a three-pronged approach to boost the growth of Indian handicraft sector, which is facing tough competition from international players.
Bigger, Better, Bolder: India-ITME Society, organisers of the ITMEs, by their own words, has struck the keynote for the 10th India-ITME 2016 edition, which is poised to scale a new peak of achievement by the sheer number of exhibitors, visitors and the space. The biggest achievements are the new exhibitors and the number of roadshows India-ITME Society has done to promote ‘Make in India’ – a dream project of the Modi-led Government. There were a total of 23 roadshows, including in some important Asian countries like Vietnam, Indonesia and Thailand.
Global textile machinery market is witnessing tremendous growth buoyed by growing demand of textile and apparel market. It is forecasted to grow at a CAGR of 14.02 per cent till 2018. It is expected to reach to $207.5 billion in 2015. The major manufacturers of textile machinery are Germany, Italy, Switzerland, France and now China. China is leading in the field of textile exports today because they installed a large set-up for spinning and weaving industry. One of the major trends in the global textile machinery market is the growing number of technological innovations.
Despite having production capacity, India lost production opportunity of 5,00,000 tonne in volume and Rs 5,000 crore in value.