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| Govt closely monitoring cotton prices |
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The government is closely monitoring prices of cotton in view of problems faced by the domestic industry, Commerce, Industry and Textiles Minister Anand Sharma said on Wednesday.
"The cotton textile industry has been facing a critical situation in recent times. We are maintaining a close watch on the price situation both domestically and internationally," Sharma informed the members of Consultative Committee of Textiles.
The government had capped cotton exports at 55 lakh bales (170 kg each) to protect the domestic textile industry in the face of rising cotton prices.
For the last two days, cotton prices have been inching up in the domestic market. Today, cotton prices rose by Rs 1,000 to Rs 41,000 per candy (356 kg each) on market rumours that government may announce sops for exporters tomorrow, traders said.
He also said that the ministry has initiated a policy dialogue with cotton producing states. |
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| Govt closely monitoring cotton prices |
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The government is closely monitoring prices of cotton in view of problems faced by the domestic industry, Commerce, Industry and Textiles Minister Anand Sharma said on Wednesday.
"The cotton textile industry has been facing a critical situation in recent times. We are maintaining a close watch on the price situation both domestically and internationally," Sharma informed the members of Consultative Committee of Textiles.
The government had capped cotton exports at 55 lakh bales (170 kg each) to protect the domestic textile industry in the face of rising cotton prices.
For the last two days, cotton prices have been inching up in the domestic market. Today, cotton prices rose by Rs 1,000 to Rs 41,000 per candy (356 kg each) on market rumours that government may announce sops for exporters tomorrow, traders said.
He also said that the ministry has initiated a policy dialogue with cotton producing states.
The Committee discussed issues like measures to boost exports, amid the global slowdown, raw material availability for the industry among other issues.
The textile industry contributes 14 percent to the industrial production and over 10 percent to exports.
The sector is the second largest employment generator after the agriculture sector, engaging 35 million people across various segments in the entire value chain.
Expressing concern over the precarious situation of the dyeing industry in Tirupur, Sharma said a suitable solution would be in place soon. |
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| Govt closely monitoring cotton prices |
|
The government is closely monitoring prices of cotton in view of problems faced by the domestic industry, Commerce, Industry and Textiles Minister Anand Sharma said on Wednesday.
"The cotton textile industry has been facing a critical situation in recent times. We are maintaining a close watch on the price situation both domestically and internationally," Sharma informed the members of Consultative Committee of Textiles.
The government had capped cotton exports at 55 lakh bales (170 kg each) to protect the domestic textile industry in the face of rising cotton prices.
For the last two days, cotton prices have been inching up in the domestic market. Today, cotton prices rose by Rs 1,000 to Rs 41,000 per candy (356 kg each) on market rumours that government may announce sops for exporters tomorrow, traders said.
He also said that the ministry has initiated a policy dialogue with cotton producing states.
The Committee discussed issues like measures to boost exports, amid the global slowdown, raw material availability for the industry among other issues.
The textile industry contributes 14 percent to the industrial production and over 10 percent to exports.
The sector is the second largest employment generator after the agriculture sector, engaging 35 million people across various segments in the entire value chain.
Expressing concern over the precarious situation of the dyeing industry in Tirupur, Sharma said a suitable solution would be in place soon.
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| Nhava Sheva International Container Terminal Win Award |
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The Nhava Sheva International Container Terminal (NSICT), currently operated as DP World Nhava Sheva, was set up in 1997 and was India's first private-public partnership in the ports sector. DP World operates five container terminals in India, ... |
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| Government may not allow more exports of Cotton |
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The government may not allow more exports of cotton in the current season as stocks are reported to be much lower than earlier reported.
"We need to look into what is the exportable surplus. We are regularly monitoring the situation and a considered view will be taken," said the newly appointed minister of textiles, Anand Sharma. He already holds charge of the commerce and industry ministry. |
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| Govt may reopen export ceiling for cotton yarn: |
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Had put a cap of 720 million kg this year. Textile and commerce ministries are likely to reopen the ceiling on cotton yarn exports. According to sources in the ministries, the policy in this regard may be announced in a fortnight. The secretaries of the two ministries met textile sector stakeholders on Friday in New Delhi. The Union government had put a ceiling of 720 million kg this year on export of cotton yarn. The export licences of manufacturers expired on January 15, by when 670 million kg |
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| Polyester Fiber & Yarn Price |
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Polyester fiber and yarn prices strongly rose in the past year, in China, India and Pakistan, partly due to a surge in cotton prices. Margins also expanded, as spinners took advantage of the continuous rise in prices, with demand being boosted by the anticipation of higher yarn prices. Fiber and yarn prices are now looking for a direction, with more uncertainties in sight for the new year. |
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| Irrational govt. policies hit textile growth |
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The textile industry and the cotton economy of the country have been victims of irrational government policies during recent years, according to Mr. Shishir Jaipuria, Chairman of Confederation of Indian Textile Industry (CITI).
The garment and home textile units have been complaining that they are not able to obtain price increases from their global customers to match their increased raw material cost. Increase in fibre cost has had a cascading effect that affects the entire textile value cha |
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