In order to ensure availability of cotton for domestic mills, the Indian Government had directed Cotton Corporation of India Ltd to sell its stock of cotton (cotton season 2015-16), purchased under MSP, to spinning mills in the micro small medium enterprise (MSME) category to contain fluctuation in cotton prices.
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Hyosung Group, a leading textile manufacturer, is collaborating with French textile mill Sofileta to strengthen its presence in European market.
Despite being one of the world’s largest textile and apparel markets, the US domestic textile production is still struggling to recover from previous declines from 2008 to 2009, according to a report from the US Congressional Research Service.
Seventeen textile mills in the Government and cooperative sectors of Kerala need revival and an expert committee has suggested infusing Rs 494.81 crore in capital for it.
M Senthilkumar, Chairman, The Southern India Mills’ Association (SIMA) has welcomed GST era for the textile industry and highly appreciated the NDA Government especially the Union Textile Minister, Smriti Irani
Coimbatore-based Lakshmi Machine Works (LMW) will modernise Kenya-based Rift Valley Textile Mills (Rivatex EA) to help it compete with its global counterparts.
M Senthilkumar, Chairman, The Southern India Mills’ Association (SIMA) has highly appreciated and thanked the concerted and constant efforts made by Union Textile Minister, Smriti Zubin Irani for fully understanding the needs of the industry and persuading the Finance Minister and Prime Minister to classify the entire cotton textile value chain under 5 per cent GST rate.