Maharashtra govt earmarks Rs 908mn for textile sector

In its effort to attract more investments in the textile sector, as proposed under the state textile policy, the state government of western Indian state of Maharashtra has sanctioned a sum of Rs. 908.3 million for the textile industry, Finance Minister Ajit Pawar said while presenting the state’s annual budget for 2012-13.

The Minister said the new textile policy contains proposals for additional interest subsidies for the projects selected under the Textiles Upgradation Fund Scheme (TUFS).

Besides, a sum of five billion rupees has also been apportioned for providing electricity to powerloom industry at subsidized rates, he added.

The state’s budget for next fiscal sets aside a sum of Rs. 14.8 billion for industrial promotion subsidy (IPS) in Maharashtra. This amount, however, is lower than Rs. 24 billion worth of government’s spending on IPS during 2011-12.

In his budget presentation, the Finance Minister assured the legislature that the state government would increase the allocation for IPS, if required.

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Textile Machinery Sector Faces Economic Context

Following several quarters of sustained recovery compared to the minimum levels recorded during the two-year period from 2008-09, Italy’s textile machinery industry has seen a slowdown in new orders.

This downturn, already apparent in the year’s second quarter, was stressed during the summer period from July to September, as illustrated by the economic survey conducted by Association of Italian Textile Machinery Manufacturers - ACIMIT’s research department.

The overall index of orders for the year’s third quarter shows a 45% decrease compared to the previous period, stopping at a value of 70.8 points. The greatest drop was recorded for exports, where the index registered 75.3 points (-46%). On the domestic market, orders fell by 39%, for a value of 60.4 points.

The economic context will remain uncertain over the coming months. Economic growth at a global level is slackening off, and this is also occurring in emerging markets with a greater demand for textile machinery. For both the domestic and export markets, the majority of manufacturers estimate that the fourth quarter of 2011 will, on the whole, bring in a stable flow of orders, compared to the three previous months.

However, regarding export markets, and in spite of the positive signs at the recent ITMA trade fair, the percentage of companies forecasting increased orders is greater than those which foresee increases in the domestic market (34% compared to 13%).

ACIMIT (the Association of Italian Textile Machinery Manufacturers) is a private non-profit making body and its main purpose consists in promoting the Italian textile machinery sector and in supporting its activity, mainly abroad, through the most updated and innovative promotional means, constantly improved during its more than 60 years of life.

Association of Italian Textile Machinery Manufacturers - ACIMIT

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Investments in Gujarat textile sector set to treble

Investments in the high employment generator; textile sector is expected to receive a boost from the Vibrant Gujarat Summit beginning tomorrow. Investment proposals already received and for the which Memorandum of Understandings (MoUs) have crossed the Rs 200 billion mark, up from Rs 84 billion in the previous summit in 2009.

The Gujarat government is mainly trying to attract investments in the technical textiles sector, which is still in its nascent stage in India. Two major multinational technical textile companies seem to have shown keen interest in setting up manufacturing operations in the state.

The other sector which is evincing interest is the spinning sector, in which the government has received around 40 proposals of the 125 odd investment proposals received. The technical textiles sector has attracted around 15 investors, with the rest accounted for by those in weaving, fabric processing and apparel manufacturing.

Amongst the major investors are big textile houses like, Alok Tex¬tiles, Welspun Group, S Kumar's Nationwide, SEL India, Chiripal group, Bhilwa¬ra Group, Jaydeep textiles, Nagarika Group, Mangal Textiles, Lux Hosiery, Filatex Group and many others. Amongst the global companies who are investing in the vertical of technical textiles are TenCate Geosynthetics and American Hygienics Corporation.

Original Source: Investments in Gujarat textile sector set to treble @ Fibre2fashion

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Textile Business Networking Forum in Bangalore from June 4

Business Networking Forum (BNF) will begin from the 4th of June 2010 and will last till the 6th of June 2010.

Business Networking Forum is a platform for the entire textile value chain - right from yarn to fashion; from manufacturing, supply chain logistics & fashion retailing to support systems like technology, transport, warehousing, training, & retail infrastructure.

Business leaders, experts, and policy makers & implementation agencies of the inter-related sectors now get a convenient platform to meet and discuss issues, to network, and to share knowledge on the opportunities and challenges.

In order to make BNF a highly interactive, meaningful and productive assemblage for the industry stalwarts and the dignitaries, BNF proposes to hold the conference alongside the exhibition to create an opportunity for all to listen to the industry leaders as well as getting a feel of the Indian textiles. Dr. PR Roy is the chairman of the Advisory Panel of this Business Networking Forum.

This conference is being organized by SS Textile Media Pvt. Ltd., who is very reputed and renowned company, engaged in organizing trade fairs and events. The company provides entire gamut of organizational services to its esteemed clientele.

SS Textile Media boasts of well trained and talented professionals who do their best to cater the clients with the best services in the industry. BNF is being rigorously marketed by www.fibre2fashion.com - world’s largest B2B platform for the global Textile-Apparel and Fashion industry and constituently is the Marketing Partner of the event.

The conference will deal with many current issues concerning the textile industry today. There will be many deliberations by some of the renowned and prestigious people from the textile fraternity.

The conference will deal with subjects such as, “Integrated Supply Chain for the Textiles & Clothing sector - How to get there?”, “Deciphering the Unique Identify or USP of Textiles & Clothing Industry of India and the sub-continent”, and a lot more topics will dealt with in this three day conference. 

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Textiles Industry achieves 16% growth rate

August 13, 2008 (India)
The Investments in the textiles sector are expected to reach Rs. 1,50,600 crore by 2012 and this enhanced investment will generate 17.37 million new jobs in the textiles sector.

Addressing at a function in Kolkata after releasing the booklet tilted “Indian Textiles- The Sunrise Sector, highlighting the achievements of Textiles Sector during the four year tenure of the Government, The Minister for Textiles, Shri Shankersinh Vaghela said that the Indian textiles industry is in a stronger position than it was in the last six decades due to sagacious guidance provided by Smt. Sonia Gandhi, Chairperson, United Progressive Alliance (UPA) and Dr. Manmohan Singh, Prime Minister.

The industry which was growing at 3-4 percent during the last six decades has now accelerated to an annual growth rate of 16 percent in value terms and will reach the level of US $ 115 billion (exports US $ 55 billion; domestic market US $ 60 billion) by 2012.

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