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9 March 2010 |
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Engineering SEZ gives way to textile zone |
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(Source: The Times of India, Bangalore, March 9, 2010) |
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An engineering sector special economic zone (SEZ) in Shimoga has been converted into textile zone.
Large and medium industries minister Murugesh R Nirani, in a written reply to the assembly, said the state government has decided to drop the engineering sector SEZ as no company came forward to set up the project there.....Read more....
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8 March 2010 |
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OUTLOOK-India cotton seen higher on soaring exports |
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(Source: Reuters India, Mumbai Sourav Mishra, March 8, 2010) |
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India's cotton prices may remain higher this week after a federal minister backed the decision not to curb soaring exports of the commodity despite domestic price rise, analysts and traders said.
"There is sufficient stock of cotton in the country to meet the demand of the mills as well as export. No proposal is under consideration for banning cotton export at this stage," Panabaaka Lakshmi, the junior textiles minister told parliament last week. See [ID:nSGE6230HP]
....Read more.... |
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7 March 2010 |
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Budget-day impact on stocks is short-lived |
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(Source: The Hindu Business Line, Rajalakshmi Sivam & Aarati Krishnan, March 7, 2010) |
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Reacting euphorically to Budget 2010, the stock market has singled out non-banking finance companies (NBFCs) and public sector banks as the key sector ‘beneficiaries' .
In the week since the Budget, stocks of NBFCs such as Reliance Capital, Bajaj Auto Finance and Shriram Transport Finance are up 7-12 per cent, on the prospect of the Reserve Bank of India (RBI) handing out more banking licences....Read more.... |
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6 March 2010 |
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FIASWI seeks relief in excise, customs duties on crude oil, filament yarn |
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(Source: The Times of India, Surat, March 6, 2010) |
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Industry experts said the basic customs duty of five per cent on the crude oil and 10 per cent excise duty on filament yarn will create a direct impact on the man-made textile industry of Surat, which contributes to 40 per cent of the man-made fibre demand in the country. Since MEG and PTA raw material extracted from the crude oil already attract high excise duty, the additional duty on crude oil is likely to increase the prices of yarn by about 6 per cent thus making the end products like saris and dress material costlier.....Read more.... |
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27 February 2010 |
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Budget largely sidelines textiles sector |
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(Source: Rediff.com, February 27, 2010) |
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Cut in TUFS scheme allocation is a major negative while extension of interest subvention for another year is positive; one time grant for TN govt, skill development initiative augurs well.
Union Budget has given lukewarm response for the recommendations of Textile Industry. Although some perks have benefited the garment industry by the government, the all round budget impact was not up to the mark. Some of the provisions in the budget that could have a direct and indirect bearing on the textile and clothing industry are as follows-....Read more.... |
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26 February 2010 |
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A breather to textile units |
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(Source: The Hindu, P Sunderarajan, New Delhi, Feb. 26, 2010) |
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The Confederation of Indian Textile Industry welcomed the package, including retention of the optional route for the entire textile value. But, in the same breath, expressed disappointment that excise duty on manmade made fibres and their products had been increased from 8 per cent to 10 per cent. ....Read more....
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24 February 2010 |
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Textile cos see no big gains from Budget |
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(Source: The Economic Times, Shramana Ganguly Mehta, Ahmedabad, Feb. 24, 2010) |
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Awaiting Rs 4,500 crore to be disbursed to the industry under TUFS, the textile players believe that this could be the only demand which could get fulfilled in the Budget. The Confederation of Indian Textile Industry has sought Rs 1,500 crore to clear the backlog of 2009-10 and an additional amount of Rs 3,000 crore for 2010-11. It is hopeful that the finance minister is most likely to allocate “substantial amount” under TUFS to the industry.....Read more... |
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23 February 2010 |
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Coir exports likely to exceed target on Chinese demand |
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(Source: The Financial Express, Rajesh Ravi, Kochi, Feb. 23, 2010) |
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Coir exports are likely to exceed the target fixed for the current financial year because of strong demand for coir fibre and curled coir from China.
While the market for traditional handloom products like coir mats, rugs and carpets is fast declining, demand for machine manufactured PVC tufted mats and coir raw materials has risen, Coir board sources said. ....Read more.... |
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23 February 2010 |
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Watchdog to regulate nano technology soon |
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(Source: The Hindustan Times, Anika Gupta, New Delhi, Feb. 23, 2010) |
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Spurred in part by the debate over Bt brinjal, and in part by the controversy raised abroad by certain products based on nanotechnology, the government is planning to set up a regulatory board in March that will examine all new nanotechnology devices before they are commercially marketed.....Read more.... |
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23 February 2010 |
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Expectations of Tirupur exporters |
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(Source: Nesaraj and Madhu Bharathi, NDTV Profit-Beta, February 23, 2010) |
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Tirupur's knitwear industry is well on target to a strong export growth. But for the industries behind the scenes going has not been all that easy.
Dyeing is the backbone of any textile unit. But the 700 odd dyeing units in Tirupur which feed to the over Rs 16,000 crore knitwear industry have been facing real tough times because of environmental concerns.....Read more....
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