Posts Tagged ‘textile’

Integrated textile part setting down at Himachal Pradesh sooner

Thursday, March 18th, 2010
Integrated textile part setting down at Himachal Pradesh sooner
An integrated textile part has been approved by government of Himachal Pradesh with the roundabout costing of Rs 107crores, that would be turning up to Una district sooner.
Himachal Textile Park Ltd will be playing role in setting up the proposed part, expressed an official statement released on 17th March 2010.
Approval was given for the project in the meeting supervised by Prem Kumar Dhumal, Chief Minister.
It is expected that employment will be generated for more than 2,200 people through the Textile Park along with an indication for it to get completed by end of 2011-2012.
Incentives are being provided by the government for development of parks that includes subsidy on interest for procurement of latest machine along with grant of 40% for the development of infrastructure.
A proposal for expansion of existing units with an estimated investment of Rs. 73.52crores, along with 14 new ones that are initiated for setting different varieties of industrial units also got clearance in the meeting, it was expressed.  

An integrated textile part has been approved by government of Himachal Pradesh with the roundabout costing of Rs 107crores, that would be turning up to Una district sooner.

Himachal Textile Park Ltd will be playing role in setting up the proposed part, expressed an official statement released on 17th March 2010.

Approval was given for the project in the meeting supervised by Prem Kumar Dhumal, Chief Minister.

It is expected that employment will be generated for more than 2,200 people through the Textile Park along with an indication for it to get completed by end of 2011-2012.

Incentives are being provided by the government for development of parks that includes subsidy on interest for procurement of latest machine along with grant of 40% for the development of infrastructure.

A proposal for expansion of existing units with an estimated investment of Rs. 73.52crores, along with 14 new ones that are initiated for setting different varieties of industrial units also got clearance in the meeting, it was expressed.  

Indian Textiles Brand Promotion

Friday, March 12th, 2010

Enough support is being provided by government to Textile Export Promotion Councils for variety of segments of clothing and textiles sector, by facilitation and administrative support of Indian Embassy and also through funds support by the Market Development Assistance Scheme, for deepening the penetration of Textile Industry of India and clothing items in International markets, globally and even for the promotion and establishment of Brand India identity in the global markets.

The information was provided by Smt. Panabaaka Lakshmi, Minister of State for Textiles in Lok Sabha, through a written answer against questions out by Shri Varun Gandhi.

It was further stated by the Minister that no such proposal is there for developing PPP, Public-Private Partnership approach in order to create Indian apparel brands that can be accepted globally. Steps are not being considered by the Government towards the development of SPV, Special Purpose Vehicle, with the purpose of brand establishment and promotion.

Textile Export Promotion Councils concerned are those agencies that work under close direction and cooperation of the Government in order to develop brand and promote, and SPV is not contemplated for the purpose, said the Minister.

Impact of Budget Day on textile stocks

Tuesday, March 9th, 2010

With joyous feelings towards Budget 2010, NBFCs, non-banking finance companies have been singled out by the stock market along with public sector banks as leading sector beneficiaries.

During this week, due to the Budget, NBFC’s stocks such as Bajaj Auto Finance, Shriram Transport Finance and Reliance Capital are ahead some 7-12%, as per the prospects of RBI, Reserve Bank of India, dealing with banking licenses.
Price movement study carried after the final four Budgets correctly explains that acquired Budget-day largesse that too in type of favorable policy announcements didn’t hold firmly over the profits in followed year. Even the sectors, battered ones, because of the ‘unfriendly’ budget didn’t continue to exist at the same vein after that.

Moves that didn’t last longer

Few cases should be considered. A sudden cut of excise duty over the small cars reflected a jump of some 12% in the stock of Maruti Suzuki during the following week after Budget February 2008. Within an years time, 30% of value had been lost in the stock. In Budget 2006, companies dealing with textile trade were rewarded on Budget Day with higher allocation to textile up-gradation fund and duty cut. After an year’s time approximately, even while 31% sensex had soard, few stocks still managed to trade at lower percentage, say 25-35%. In fact, textile sector was a regular receiver of flourishing announcements in Budgets 2005, 2005 and 2007. Still, the stocks did not do any good more than anything at sensex during any of these years.

During 2007, on Budget day itself, real estate companies battered 5%, right after the served proposal to impose service tax over commercial/residential property rentals. But the stocks outpaced sensex with some 66% profit during the following year.

Textile sector of Mauritius need expansion: Minister

Tuesday, March 2nd, 2010

Port Louis: According to the Minister of Indian Ocean Island’s Industry ministry, the textile firms of Mauritius that are engaged in supplying European chains like Inditex’s Zara and Next, require additional or new export markets along with more valued products in order to continue within the competition.

Economy’s tradition cornerstone, the sector exposed to the ending European preferential deal of trade, which was affected by the global economic downturn during the previous year and the executives of the company are afraid that strong local currency might hurt it more.

In order to compete in the best manner, Mauritius has to put in good efforts for up-grading the chain of value added products. Mauritius cannot sustain to be a producer of textile only in manufacturing of the basic items of textile, said Dharambeer Gokhool.

Much intense situations can be seen in the competition at the lower segments of the textile market. It is important for Mauritius to grow on the global standards within the textile industry for developing value added products of textile with brands and designs, said the minister.

The sector is reflecting growth by 1% within the current year after getting shortened up to 4% during 2009.
Major markets for textile for Mauritius are France, Italy and Germany. Approx 6.5% of contribution is provided by textile in the gross domestic product range providing some 11% of the all total jobs.

Expectations by the Exporters of Tirupur

Tuesday, February 23rd, 2010

Knitwear industry of Tirupur is on the target for getting stronger growth in the exports. But it has not been that much easier for the other industries, behind the scenes.

Dyeing forms the backbone of textile unit. But Tirupur’s odd dyeing units, around 700 in numbers that serves knitwear industry worth 16,00crore has been facing terrible situations due to the environmental issues.

Newly introduced regulations by the government forced the dyeing units to migrate up to zero discharge process. Proposal provided by the government explained that effluent treatment plants are being laid down on private public partnership with the state and central government providing 75% of entire expenses.

Few of the units are small in size with turnover of some 20lakhs. Debt of this amount is quite big for them. We simply want the government to keep up its promise and keep an eye over the industries that serves as backbone, in future, Samiappan, President of Tirupur’s Dyers Association said.

Coimbatore, on the other hand, suffered much deeper situation. Most of the small and medium sized enterprises were adversely affected due to the economic slowdown. But now the recovery signs are smarter, reason being, most of the US and European industries that were bankrupt come here.

James, a supplier of tier II, to manufacturers of textile machinery, is quite flourishing with the orders. However, in contract, James has to struggle a lot for getting back the workers who were retrenched during the economic slowdown.
We are hoping that NREGA norms of employment will be tightened in the Budget. Since good days are back, and if government takes necessary actions, soon we’ll be able to show our fast growth pace, said James.

So, better prospects are reflected in the biggest industrial sector of the country and businesses are waiting for the Budget with baited breath.

Lessons understood with fierce times always come in flourishing opportunities.

Stimulus packages supported generation of more jobs: ASSOCHAM

Monday, February 22nd, 2010

During the period of economic recession, stimulus packages were offered by the government that helped a lot in generating additional amount of employment with some 19% rise within the period of October-January 2009-10, expresses the study processes conducted by ASSOCHAM, Associated Chambers of Commerce and Industry of India.
Stimulus packages provided by international agencies and some other countries during the period of crises was of great help in the revival of exports and imports along with the revival of Indian-International trade, explained the study.

Event management and advertising were the other sectors that helped in generating additional employment. Around 65% additional employments was generated by consultancy services and research kind of sectors during October-January 2009-10 during the same period during last year, said the study.

Employment structure moved over by 27% in financial and insurance services with some growth in sectors like jewelry, telecom, engineering goods, gems, entertainment, media, warehousing and computer hardware.
However, employment growth in sectors such as banking reduced with 7% and negative growth of employment generation was registered in sectors like agriculture, textile sector, IT and FMCG, expressed the study.

Terrible days for textiles exports are over, says Maran

Friday, February 12th, 2010

Dayanidhi Maran, Textile Minister explained, terrible days for exports in textile are now over and positive signs of recovery can be seen through the grounds in global front in the form of Major European and other markets.

We can read, in the middle of the lines expressing recession days for the exports in textile seems to be over. We are now in the positive fronts, said Maran after the inauguration of exhibition regarding handicraft cluster.

Exporters dealing with textile are getting new orders from both European and US markets as the inventories are getting over quickly.

Growth of 5% has already been monitored in December and approx 7% during January based on monthly analysis after the registration of 15% decline recorded during April-November 2009, added the minister.

Positive trends are expected during the coming fiscal, he said further.

Decline of approx 2% at $21.75 billion was recorded in 2008-09 in comparison to 2007-08 in the textile exports of India, due to reduced demand from the western markets.

Textile sector that employed around 35million people, experienced thousands of closure in units and loss of approx 7lakh jobs in 2008-09, estimates of the Confederation of Indian textile Industry show.

Fearce days for exports in textile are now over, explains Maran