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With the State government permitting partial operation of industries only in some districts even as it announced continuing of the lockdown with some relaxations, industry associations seek support fo
Yarn price expected to stabilise Updated: Updated: Share Article Textile mill associations have urged members to keep the prices stable this month. Prices of cotton yarn, which were on an upward trend since December, are expected to remain stable in the coming weeks. Chairman of Southern India Mills’ Association Ashwin Chandran told The Hindu on Thursday that following a recent virtual meeting of the textile mill associations from across the country, the associations have urged their members to keep the prices stable this month due to concerns among industries in the value addition se...
Mills association seeks rollback of duty on cotton imports Updated: Updated: ‘Levy will lead to higher import of garments, escalate prices’ Share Article ‘Levy will lead to higher import of garments, escalate prices’ The Southern India Mills’ Association has sought a rollback of the 10% customs duty on cotton imports announced in the Union Budget, as it would escalate the cost of garments and result in higher import of garments, especially from countries such as Bangladesh and Sri Lanka. Ashwin Chandran, chairman of Southern India Mills’ Association, said that India imports mainly...
The Indian textiles and clothing industry has broadly welcomed the Union Budget 2021-22 presented by finance minister Nirmala Sitharaman in Parliament on February 1. Setting up of 7 mega textiles parks under MITRA, and reducing duty on nylon raw materials are welcomed by all trade bodies, while there is a mixed reaction to 10 per cent import duty on cotton. The grant to the textiles and clothing sector in Union Budget 2021-22 is ₹3,614.64 crore, which is about 10 per cent higher than the revised budget of ₹3,300 crore in 2020-21. The budget also puts emphasis on Infrastructure Devel...
Customs duty on cotton imports disappoints textile sector Updated: Updated: ‘It will make import of branded cotton expensive’ Share Article ‘It will make import of branded cotton expensive’ The textile and clothing sector here has expressed disappointment over the levy of customs duty on cotton imports in the Union Budget. Manoj Patodia, chairman of the Cotton Textiles Export Promotion Council, said that the plan to establish seven mega investment textile parks in three years was a positive step towards making the industry globally competitive. It would attract investments and boost...