Powerloom weavers in Pandesara and Ved Road industrial areas of Surat, Gujarat will be able to procure yarn-raw material for the polyester fabric at concessional rates with the Ministry of Textiles increasing the corpus fund for India’s first yarn banks in the city from Rs 1 crore to Rs 2 crore.
Browsing: weaving industry
The Union Textiles Minister Smriti Irani unveiled a Mudra portal recently that will enable banks to deposit financial assistance to handloom weavers in electronic mode and credit the loan directly to their accounts.
The Picanol Group, which specialises in the development, production and sale of weaving machines, engineered casting solutions and custom-made controllers, has reported seventh consecutive year of strong results.
As production in spinning mills has come to a grinding halt since demonetisation, sales of yarn in western Tamil Nadu have plummeted. As a consequence, yarn stocks are piled up in city mills most of which rely on migrant labourers who have stopped work.
Santex Rimar Group’s weaving division will be present at ITMA Asia in Shanghai with a Terry Jaquard loom under SMIT brand for first rate terry towels productions.
On the occasion of ITMA ASIA 2016, Santex Rimar Group will participate with all Group’s brands unified to strengthen the new mission of being the only reference partner for different solutions.
Weaving industry has been progressing well in the last couple of years. The first boom was in 2004 and 2005, when weaving attracted a lot of investment. Then it slowed a bit. Again in 2012, one more boom period started.