The Union Ministry of Textiles urged to facilitate opening of common selling offices or facilitation centres in China to encourage close interaction among Indian industrialists and prevent buyers exploiting them, said Indian Texpreneurs Federation (ITF) secretary D Prabhu Dhamodharan in a memorandum to the Ministry Secretary S K Panda.
Common selling centres were necessary as Chinese yarn buyers and traders, as a cartel, have been crushing Indian yarn manufacturers in recent times. To counter them and this would strengthen the Indian buyers’ position with constant market intelligence.
As industry stakeholders would bear all expenses, the Ministry, has only to facilitate it. As the first step, should organise meetings of yarn and cloth manufactures in the South and North separately. In the South, the ITF itself could take the lead in organising the event. The secretaries and joint secretaries concerned should also participate in the meeting and guide the industry, he added.
He also said that instead of waiting for mega trade agreements to be signed, the Ministry should initiate textile-specific agreements quickly for untapped markets. A strong recommendation to Commerce Ministry is necessary to expedite the process, he said.
Another point made in the memorandum is rationalisation of duties on man-made fibre for Indian products to compete in the international market.
He also added that interest subvention for export of yarn and fabrics will boost exports and support the domestic market.
According to Prabhu Dhamodharan, this is the only way to achieve the targeted growth in the export market. Continuous decrease in export of MMF goods and increase in imports of MMF-based products are clear indications of the international trend.
Indorama Ventures has teamed up with Suntory, Iwatani, and others to introduce the first commercial-scale bio-PET bottle, made from certified…
Milliken & Company has introduced Milliken Assure, first flame-resistant moisture barrier for firefighter turnout gear that is free from PFAS…
Paradise Textiles has collaborated with Kintra Fibers, a leader in bio-based fibers, to produce the first garment made from Kintra’s…
Swisstulle adopted JigMaster for its dyeing and finishing operations, especially for high-quality technical textiles used in fashion and automotive industries.
Birla Cellulose, a leader under the Aditya Birla Group, has announced a long-term partnership with Circ, a U.S.-based textile recycling…
CARBIOS has collaborated with leading brands Patagonia, PUMA, Salomon etc. to create a groundbreaking polyester garment made entirely from textile…