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8 December 2011 |
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Kisan Mela at Banswara District in Rajasthan |
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CITI, New Delhi |
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New Delhi, Thursday, December 8, 2011: The Confederation of Indian Textile Industry (CITI) through its Cotton Development & Research Association (CDRA), organized a farmers meeting on 6th December’ 2011 at village Badi Badwas, Banswara District in Rajasthan. This was the second such meeting, the first meeting having been held in last October in Bhilwara Distt. Nearly 4000 farmers participated in the meeting at Banswara. |
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| | | October | |
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20 October 2011 |
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CITI Organises Cotton Farmers Meet in Bhilwara |
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CITI, New Delhi |
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New Delhi, Thursday, October 20, 2011. Confederation of Indian Textile Industry (CITI) through its Cotton Development and Research Association (CDRA) organized a farmers meeting in Bhilwara, Rajasthan on 19th October 2011. Shri P.D.Patodia, Chairman of CITI’s Standing Committee on Cotton presided over the function and Shri Mukund Choudhary, Vice Chairman of CITI was the Chief Guest. Over 2000 cotton farmers from Bhilwara, Banswara and other nearby districts of Rajasthan attended the meeting. Representatives of spinning mills, ginners and cotton traders were present in large number. Scientists from RVK, Bhilwara and Banswara and officers of the State Government’s Agriculture Department were among the participants. |
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3 October 2011 |
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CITI Chairman highlights financial problems and skill development needs of textile industry |
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CITI, New Delhi |
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New Delhi – October 3, 2011. CITI Chairman highlights financial problems and skill development needs of textile industry. The 53rd Annual General Meeting of Confederation of Indian Textile Industry (CITI), the apex chamber of the textiles and clothing industry, was held in Mumbai on 30th September 2011. Shri Shishir Jaipuria the outgoing Chairman pointed out in his address to the AGM that the textile sector of the country has gone through a very difficult period during the last 6 – 9 months and is currently facing problems in repayment of loans because of their financial conditions. He has requested for some liberalization in the norms for restructuring of term loans so that mills turning into NPA can be avoided.
Shri Shishir Jaipuria highlighted the skill development requirements of the textiles and clothing industry for meeting its requirements of workers on a longterm basis. He announced that CITI would be undertaking a large skill development project aiming at training around 1.5 million workers for the industry during the next 10 years. Shri Jaipuria pointed out that interference of Government with the operations of the spinning industry, especially export of cotton yarn, and continued Excise Duty, Customs Duty as well as Anti Dumping Duty on Manmade Fibres have contributed substantially to the present situation of the industry. He welcomed the removal of restrictions on export of cotton yarn and hoped that government would establish a conducive policy framework for the industry to recover from its present crisis. |
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| | | July | |
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21 July 2011 |
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Cotton Yarn Situation Eases |
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CITI, New Delhi |
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New Delhi – July 21, 2011. Spinning industry of the country which had a stock of more than 500 million kgs of cotton yarn following last year’s restrictions on exports have reported significant easing of the cotton yarn stock position. In a statement here Shri Shishir Jaipuria, Chairman, Confederation of Indian Textile Industry (CITI) stated that from 23rd May 2011 onwards spinning mills all over the country had resorted to significant production cuts. Currently 25–30 per cent of capacity for cotton yarn production in the country is lying closed. Meanwhile, restriction on export of cotton yarn has been lifted by the government and current cotton yarn exports are comparable with those of the same period last year. Shri Jaipuria added that there has also been some positive movement in domestic demand for cotton yarn and he expects this trend to continue. Shri Shishir Jaipuria explained that from a peak level of 500 million kgs, cotton yarn stocks with the mills have now come down to around 350 million kgs and he expects these to come down further in the coming months. He added that the festival season in the country starting from September onwards is expected to see significant improvement in demand for all textile products and this would also help the spinning sector to dispose of their accumulated stocks of cotton yarn. |
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| | | May | |
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31 May 2011 |
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Textile Mills to Continue Production Cut |
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CITI |
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New Delhi, Tuesday, May 31, 2011. Cotton Spinning mills all over the country have on a voluntary basis decided to continue the production cuts that they had initiated last week. In a statement here, Shri Shishir Jaipuria, Chairman, Confederation of Indian Textile Industry (CITI) said that the one day closure on 23rd May and one third production cut from 24th May onwards organised under the auspices of CITI and several associations of mills has resulted in a loss of Rs.600 crores. It has helped in drawing the attention of the nation to the serious problems of the cotton textile sector and also in reducing stocks of cotton yarn with the mills. Shri Jaipuria stated that unsold stocks of cotton yarn and high cost cotton had been leading to cash losses for most spinning mills and observed that the closure and production cuts had the spontaneous participation of almost all the cotton spinning mills in various regions of the country. He added that after a review of the situation this Monday, spinning mills decided on a voluntary production cut ranging from 33 per cent to 40 per cent, depending on the stock position in the respective mills, to be observed from the 1st of June until the situation improves.
Shri Jaipuria further stated that manmade fibre spinning mills are also facing low demand and declining price and a crisis situation is developing in this sector as well. He added that unsold stocks have now started piling up with fabrics producers and faced with cash losses, they are also resorting to production cuts. This, he said, would further deepen the crisis for the spinning sector.
Referring to the cotton situation Shri Shishir Jaipuria stated that export of 5.5 million bales at early part of the year has created an artificial cotton shortage in India. He reiterated the request that CITI has been making all along that no further export of cotton may be permitted until the arrival of new crop of 2011-12 stabilizes.
Shri Jaipuria stated that the crisis in the industry will be over only if problems of the entire value chain are addressed urgently, since all sub sectors in the industry are highly inter dependent. He observed that the urgent steps needed for reviving the spinning mills and the value added segments had been brought to the notice of all the concerned Ministries in the Central Government by CITI and hoped that some positive decisions would be announced quickly by government. He added that CITI has been pursuing this matter with various authorities in government and will continue to do so until some effective solutions emerge.
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31 May 2011 |
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Textile Mills to Continue Production Cut |
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CITI |
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New Delhi, Tuesday, May 31, 2011. Cotton Spinning mills all over the country have on a voluntary basis decided to continue the production cuts that they had initiated last week. In a statement here, Shri Shishir Jaipuria, Chairman, Confederation of Indian Textile Industry (CITI) said that the one day closure on 23rd May and one third production cut from 24th May onwards organised under the auspices of CITI and several associations of mills has resulted in a loss of Rs.600 crores. It has helped in drawing the attention of the nation to the serious problems of the cotton textile sector and also in reducing stocks of cotton yarn with the mills. Shri Jaipuria stated that unsold stocks of cotton yarn and high cost cotton had been leading to cash losses for most spinning mills and observed that the closure and production cuts had the spontaneous participation of almost all the cotton spinning mills in various regions of the country. |
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23 May 2011 |
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Spinning Comes to a Grinding Halt – Chairman, CITI |
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CITI |
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New Delhi, Monday, 23rd May 2011. The Rs 70000 crore cotton spinning industry, employing over 7 lakh workers and exporting nearly US$3 billion worth of yarn annually, has come to a grinding halt on Monday, 23rd May 2011, following a combined appeal from the Confederation of Indian Textile Industry (CITI) and several associations of cotton spinners for a one-day closure of mills to highlight the current problems of the sector. Shri Shishir Jaipuria, Chairman, CITI said that the closure was complete all over the country from Punjab and Uttarakhand in the North to Tamil Nadu and Andhra Pradesh in the South. He added that the mills will also be idling one third of their capacities from 24th May onwards.
Shri Jaipuria stated that a virtual ban on exports of cotton yarn during over two months in the last quarter and a declining trend in domestic demand had resulted in a huge unsold stock of cotton yarn with the spinning mills all over the country. When exports were allowed from April 2011, the accumulated stock caused a crash of cotton yarn prices in the global and domestic markets. Worse still, consumers started shying away from the markets, because of their perception that prices would decline further since mills are flush with stocks and have to unload them at any cost.
“With a share of over 25 percent in world markets, Indian supplies are crucial to global prices of cotton yarn. Discontinuation of Indian exports had pushed up prices in the global markets to unprecedented levels during last quarter and over supplies from India have led to the crash of global prices from April 2011” said Shri Shishir Jaipuria. Since domestic demand remains lackluster, cotton yarn producers are finding it extremely difficult to dispose of the accumulated stocks. The curtailing of production through full closure on 23rd May and one third closure from 24th May 2011 is expected to help in reducing stocks to some extent, he added.
Shri Jaipuria stated that the excise duty of 10.3 percent imposed on the garment industry in this year’s Budget and the recent legal action against hundreds of dyeing units in Tirupur have created serious problems for the garment industry of the country and this in turn is also affecting consumption of both yarn and fabrics. He hoped that the excise duty would be withdrawn and an immediate solution would be found for restoring the dyeing units of Tirupur, in the interest of the entire textile value chain of the country.
Stating that a combined representation has been sent to the concerned Ministers by all the textile associations that have called for the production cuts, Shri Shishir Jaipuria said that restoration of draw back facility on cotton yarn exports is the most important step that government can now take to ease the crisis in the spinning industry. He thanked the industry for its positive and spontaneous response to the call for curtailing of production and observed that irrespective of size and location, all spinning mills in the country have participated in the closure today.
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23 May 2011 |
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Spinning Comes to a Grinding Halt |
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CITI, New Delhi |
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New Delhi, Monday, 23rd May 2011. The Rs 70000 crore cotton spinning industry, employing over 7 lakh workers and exporting nearly US$3 billion worth of yarn annually, has come to a grinding halt on Monday, 23rd May 2011, following a combined appeal from the Confederation of Indian Textile Industry (CITI) and several associations of cotton spinners for a one-day closure of mills to highlight the current problems of the sector. Shri Shishir Jaipuria, Chairman, CITI said that the closure was complete all over the country from Punjab and Uttarakhand in the North to Tamil Nadu and Andhra Pradesh in the South. He added that the mills will also be idling one third of their capacities from 24th May onwards. |
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18 May 2011 |
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Crisis in Spinning Industry- Mills to be Closed on All India Basis on 23 May 2011 |
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CITI, New Delhi |
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New Delhi, Wednesday, 18th May 2011. Faced with an extremely grim situation arising out of huge decline in demand and prices of cotton yarn and consequent piling up of huge inventories, CITI organised a meeting of all major textile associations of India in New Delhi on 18th May 2011 to discuss the problems being faced by the sector.
While lamenting that the situation is unprecedented in the textile industry, it was unanimously decided in the meeting that spinning mills in India would be closed on 23rd May 2011. From 24th May onwards, it was decided to have a production cut back of 33.33 percent (1/3rd) of existing daily production. Such a drastic step was needed to ensure a reasonable price and boost up the sagging demand for the cotton yarn. It was also decided that a review meeting off the stakeholders will be called on 1st week of June 2011 to take stock of the price and demand position and to chalk out further action. “Our sincere hope is that with the support of the government and cutback in production the crisis situation will be blown over and the industry will be back on the rail” textile leaders opined.
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| | | February | |
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28 February 2011 |
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Central Budget – A Mixed Bag for Textile Industry |
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CITI New Delhi |
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Confederation of Indian Textile Industry has stated that Central Budget presented by Finance Minister, Shri Pranab Mukherjee in Parliament on 28th February 2011 is a mixed bag for textile and clothing industry. Giving his reactions on the Budget, Shri Shishir Jaipuria, Chairman, CITI stated that the continuation of the optional scheme for excise duty in the case of yarn and fabric is a welcome feature of the Budget. Allocation of Rs.3000 crore to NABARD in phases for handloom cooperative societies will also be helpful to a large number of handloom weavers once the Scheme is finalized and announced by the Ministry of Textiles. He added that the reduction of customs duty from 7.5% to 5% on certain textile intermediates and inputs for technical textiles will be of some help to the nascent and potential technical textiles. |
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