Category: Domestic

Valuable source of inspiration for Indian clothing market

The Indian textile industry is increasingly focusing on synthetic fibres. By processing versatile polymer-based yarn materials, warp knitting is greatly on the rise. In particular when manufacturing lavish lace articles and light, patterned apparel fabrics, the Indian warp knitting mills are setting new trends by using modern Raschel machines and creative ideas. Karl Mayer can provide the Indian companies with both inspiration and high-tech machines. Especially for the production of traditional Indian saris but also of upbeat fashion styles, this innovative textile machinery specialist can offer its Rascheltronic® machine. What can be done with this equipment shows a collection of...

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GDP stays below 6 pc in 2nd quarter

GDP growth during the second quarter of the current fiscal is expected to remain below 6 per cent due to a downward trend in exports and muted growth in the agriculture sector, a State Bank of India (SBI) report said recently. The Gross Domestic Product (GDP) growth in the first quarter had fallen to 5.7 per cent, thus raising concerns about 2017-18 annual numbers. “Q2 growth numbers are likely to be muted, almost like the Q1 numbers (below 6 per cent), and the reasons are many,” the “SBI Ecoflash” report, authored by Soumya Kanti Ghosh, SBI’s Group Chief Economic...

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India expected to remain largest cotton producer in 2017-18

In 2017/18, world cotton production is projected to increase by 8 per cent to 24.9 mn tonne due entirely to an 8 per cent expansion in world cotton area to 31.7 mn hectares, which is below the 20-year average of 32.7 mn hectares. The world average yield is forecast at 785 kg/ha. India is expected to remain the world’s largest cotton producer in 2017/18 with output increasing by 6 per cent to 6.1 mn tonne. After falling by 6 per cent in 2016/17, China’s production is projected to rebound by 7 per cent to 5.2 mn tonne. According to...

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Industry expects rise in cost due to input credit refund delay

Continuing to press its demands for relief under the Goods and Services Tax (GST) regime, the textile industry has now sought refund of the accumulated input tax credit at the fabric stage, citing cost escalation of the value chain. Industry representatives have stated that delay in refund of accumulated input tax credit could lead to increased import of fabrics, resulting in job losses in the highly vulnerable sectors like powerloom, handloom, and processing.  The textile industry fears costs could escalate by anywhere between three per cent and five per cent which could further impact capacity utilisation. According to the newly elected Chairman of the Southern India Mills’ Association (SIMA)...

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Tirupur may achieve Rs 40k cr export target

The Tirupur-based knitwear industry in Tamil Nadu has set an ambitious goal of achieving a Rs. 40,000-cr export target this year, Tirupur Exporters Association (TEA) President Raja M Shanmugam has stated. He stated that it is possible to achieve the target despite a few challenges, adding that the industry fell short by Rs. 4,000 cr of its export target of Rs. 30,000 cr of last fiscal year because the international value of the UK pound fell by up to 25 per cent due to BREXIT. However, this year, the industry hopes to achieve an export target of Rs. 40,000...

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