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Textile Industry

INDIA: One lakh Crore Rupees Investment in Textile Will Turn NPA Sans

Timely help to crisis hit textile and clothing sector can obviate Rs 1 lakh crore investments turning into non-performing assets, thereby saving the nation from a looming catastrophe, according to the textile industry. At a press conference addressed by the representatives of textile and clothing industry today in Delhi under the aegis of Confederation of Indian textile Industry (CITI), Mr.R.K. Dalmia, Chairman, CITI said that the two financial packages announced by the Government had fallen terribly short of expectation of the industry. Others present at the briefing included representatives of AEPC, PDEXCIL, STREPTC and TEXPROCIL. The collective opinion of the industry was that speculative investments in civil aviation, real estate and automobiles received sops at the cost of exporting industries like textiles and clothing. They also felt that the packages have not addressed the issues of SMEs, which are labor intensive ones. In a hard hitting statement, the industry representatives termed the two stimulus packages as cosmetic and superficial and said that whatever sops that were extended were only restoration of facilities, which were earlier withdrawn. For instance, package of 7th December 2008 had only released Rs 400 crore, of the total facilities withdrawn or withheld earlier.

Added: January 23, 2009 Source: Agencies

 

 

 

 

 

 

     

Highlights of the Foreign Trade Policy

The Hon’ble Union Minister of Commerce & Industry, Government of India, had announced the Foreign Trade Policy on 8th April’05. Some of the Salient Features / Highlights of the proposals pertaining to Textile Industry in general and Handlooms in particular are. >> More

 

Salient features / Highlights of the Foreign Trade policy

 

Modern Processing Houses

The Indian Home Textile Industry has access to excellent infrastructure facilities and uses the latest technology and machinery.

Many manufacturers have set up state-of-the-art modern processing houses to roll out large volumes of high quality products to meet the international market demands and expectations. Needless to say that India’s Textile Exports have grown exponentially over the last decade.

Eco- Friendly Dyes: Use of Azo-Free Colours

The manufacturers in India are well aware that AZO free colours and dyes should be used. India has discarded the usage of banned materials in the dyeing process with safe substitutes, to ensure eco-friendliness of the products manufactured by the industry.