India's textile exports for the year 2007-08 stood at $20.5 billion, falling short of the target set by the government. The government had set a target of $25 billion export target for the textile sector.
The quota regime in textiles and clothing is unlikely to be extended beyond the deadline of 2005, a senior World Trade Organisation official said on Tuesday.
Uttarakhand saw the sharpest decline (of 11 per cent) in the "total persons engaged" in manufacturing in the worst-hit pandemic year of 2020-21 as industrial units shut shop, according to the latest Annual Survey of Industries (ASI) data, released by the Ministry of Statistics and Programme Implementation (MoSPI). This was followed by the decline in the workforce in states such as Jharkhand (8.9 per cent), West Bengal (8.3 per cent), Kerala (8 per cent), and Karnataka (7.8 per cent). The "total persons engaged" in an enterprise is defined as the sum of directly employed workers, supervisory or managerial workers, and the unpaid family members who might be engaged in the enterprise.
Prime Minister Manmohan Singh has convened a meeting on Wednesday on bailing out the textile industry following the surge in input costs due to a sharp hike in the minimum support price of cotton in September.
Nothing seems to dampen the spirit of Gujarat's textile industry when it comes to investments. Inspite of the issues arising due to rising input costs, the state government is expecting to witness MoUs worth Rs 10,000 crore (Rs 100 billion) in textile sector at the Vibrant Gujarat Global Investor's Summit 2009. During the summit, the state government will be luring several textile machinery manufacturers from overseas to set up base in the state.
Acknowledging that the rupee appreciation has created some problems for exporters, the government on Tuesday assured the textile industry of addressing all its legitimate concerns to generate more employment. "I am aware that the strengthening of the rupee has created some strains for our exporters," Prime Minister Manmohan Singh said at the golden jubilee celebrations of the Confederation of Indian Textile Industry.
Century Textiles & Industries Ltd named Raghu Palat a nominee director on behalf of Unit Trust of India. He replaces A P Kurian.
"The textile industry is dying and requires increased help from banks," Ram Krishna Mundra of Mahendra Tora Pvt Ltd said on November 26. Power loom owners and weavers have been hit hard during the recent times. "The textile industry should be given an electricity duty subsidy to overcome the current crisis," he demanded. Vimal Ambani, president-Gujarat chapter, CII, said a unified national tax structure was needed to strengthen the industry.
The government has committed Rs 1,000 crore (Rs 10 billion) for development of 25 textile and apparel production centres throughout India in next three years.
The ornaments for the Ram Lalla idol consecrated at the grand Ayodhya temple have been prepared after an extensive research and study of texts such as the Adhyatma Ramayana, Valmiki Ramayana, Ramcharitmanas and the Alavandar Stotram, according to the temple trust.
Soma Textiles & Industries Ltd will seek holders nod for purchase of the companys equity shares non-resident Indian, overseas corporate bodies and foreign institutional investors.
A few days back, Atul Ganatra, president of the Cotton Association of India, presented a grim scenario of the crop's prospects in the 2024-25 season that starts in October. Addressing the association's annual general meeting, Ganatra said the area under the crop could go down by at least 10 per cent in the coming season due to falling yields and realisation, leading to farmers losing interest. The fear of a decline in acreage comes against the backdrop of India's cotton production probably falling to its lowest in a decade, according to estimates.
Prime Minister Narendra Modi reached out to the attendees of the Kashi Tamil Sangamam in Varanasi with his speech being translated for the audience in real-time using artificial intelligence.
With the GDP of India predicted to be in between 8-9 per cent this year, the over 300 million middle class population was set to spearhead the growth of the non-woven and technical textile industry, Dr Ramkumar Seshadri, Texas Tech University, said in an analysis.
The government is soon expected to take up the proposal to increase the total fund sanction to Rs 15,000 crore (Rs 150 billion) for modernisation of the textiles industry in the XIth Five-Year Plan.
Some 55m jobs in India depend on the industry
Global retail giant Wal-Mart is in talks with several domestic textile firms for its Indian operation, which is expected to begin next year
With an aim of boosting manufacturing and exports amid sharp fall in the rupee, the government has decided to take a slew of steps, including enhancing steel production capacity to 300 million tonnes and raising textile exports by 30 per cent this year.
The Commonwealth Games bring an extraordinary show of textiles from 22 countries to the city. Among the exhibits is Nehru's jacket and Mandela's silk shirt.
The country's exports edged up 1 per cent to $38.45 billion in December 2023 while the trade deficit narrowed to a three-month low of $19.8 billion, official data released on Monday showed. Imports declined by 4.85 per cent to $58.25 billion in December last year due to a dip in crude oil shipments. The previous low in trade deficit - the difference between imports and exports - was recorded in September at $19.37 billion.
The government on Wednesday said India's textiles industry, employing over 90 million people, is likely to triple and touch $220 billion by 2020.
Textile exports this year are now slotted to reach $23 billion, down from the original target of $25 billion. Last year's target was missed too, by a couple of billion dollars.
The first time I saw the idol, I was thrilled and tears started rolling down my face. I cannot explain the feeling I experienced then
Data show leather got just 0.12% of the total FDI inflows during August 1991-March 2007.
The Centre will set up 25 integrated textile parks in the country, creating five lakh jobs by the end of next year, Union Minister of State for Textiles E V K S Elangovan said on Friday.
Passengers rushed to board the Tapti Ganga Express train from Surat railway station in the morning, causing chaos in which some people fainted, Superintendent of Police (Western Railway) Sarjo Kumari said.
The country's textiles and clothing exports are expected to touch $32.35 billion in the 2011-12 fiscal, Parliament was informed on Monday.
At the Chowmulla Palace in addition to weapons you can view old photographs and textiles.
Wholesale price-based inflation remained in the negative territory for the fifth straight month in August at (-)0.52 per cent, but prices of food articles and fuel showed an uptick. The wholesale price index (WPI) based inflation rate has been in the negative since April and was (-)1.36 per cent in July. In August last year it was 12.48 per cent. Inflation in food articles remained in double digit at 10.60 per cent in August, lower than 14.25 per cent in July.
MotherCare, the baby and maternity clothes retailer that annually sourced garments worth Rs 100 crore from a single exporter in Tirupur, filed for bankruptcy in the UK and will close all its 79 shops in that country. It was the latest world-famous brand to pull down Tirupur's fortunes.
The Indian Textile Industry is currently one of the largest and most important industries in the Indian economy in terms of output, foreign exchange earnings and employment.
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