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Changing
scenario of Indian textile industry - II
We could import raw material, fabrics at lower costs which
are not being produced in the country, add value and then
export. This is already being done in case of readymade women
fashion garments. This is the fruit of liberalisation.
Indian
cotton cultivators losses estimated at Rs 8000-10,000 cr
No doubt, cotton production in the country reached a historic
high in 2004-05. But the huge amounts estimated at Rs 8,000-10,000
crores by some experts, were snatched away form the hands
of poor cotton cultivators as prices fell sharply and the
Union government failed to take effective steps to safeguard
their interests.
Discount
mela begins
The discount mela has started for the retail textile business
in the country. This is much more evident in Tamil Nadu for
it is linked with Tamil month ‘Aadi’ and will go
on till ‘Pongal’ in one form or the other.
Will
imported apparel find a market in India?
New
Projects
UK
inspection service sets up testing lab in Mumbai
Wakefield Inspection Services (WIS) of Liverpool, UK, recently
inaugurated their testing lab at Mumbai. Mr Peter Wakefield
of WIS had specially flown in to Mumbai for the inauguration,
held at the Hotel Hilton Tower recently.
Noble
Fiber Technologies Inc selects India as its Asia Pacific hub
for X-static
Noble Fiber Technologies Inc, USA has plans to set up R&D
as also manufacturing facilities in India for its silver-coated
textile fibre - X-static in the next two years. This follows
the US technology inventor’s recent decision to make
India its Asia-pacific operation hub.
An
all time high closing stock may affect market sentiment
With closing stock for the current season likely to be standing
around 70 lakh bales, the new season expected to open in a
bearish mood. Arbind Gupta reports.
Exporters
cry foul over latest government notification
The government by way of Notification no 28/2005 has withdrawn
the exemption enjoyed by the air cargo operators from June
16 2005, resulting in an additional burden of 10.2% service
tax to be levied on export cargo freight rates.
Industrial
tariff cuts on applied rates not agreeable: Nath
India has made it clear that it would not succumb to developed
countries' pressure to have an industrial tariff reduction
formula on the basis of actual applied rates rather than bound
rates in the WTO negotiations.
In
Brief
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