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Related Keywords: abnormal volatility, Centres intervention, check soaring prices of cotton, Cotton Spinning Mills, farmers nor consumers benefited due to rise, Indian Texpreneurs Federation, ITF, medium staple cotton, preventive measures, textile sector body, unbearable loss to the industry

Indian Texpreneurs Federation (ITF) a textile sector body urged for Centre's intervention to check the soaring prices of cotton in the last two months which has resulted in unbearable loss to the industry.

In a letter to Union Textiles Minister Santosh Kumar Gangwar, Indian Texpreneurs Federation (ITF) Secretary Prabhu Dhamodharan said that the per candy rate, which was Rs 35,000 two months ago, had skyrocketed to Rs 41,000 for medium staple cotton but neither the farmers nor consumers benefited due to the rise.

Related Keywords: Cotton Spinning Mills, decline inexports, excess spinning capacity, from China, leading mills, NITMA, northern India facing crisis, one day a week, plans to shut down production, Trident, Vardhaman

Cotton spinning mills in northern India facing crisis due the excess spinning capacity and decline in exports this fiscal year have resulted in poor cash flow and excessive stocks due to which they are planning to shut down one day a week, according to Chandigarh based Northern India Textile Mills’ Association (NITMA) having 98 member mills that includes leading names such as Vardhaman and Trident, etc.

Related Keywords: CM Maharashtra, cotton cultivators, Cotton Spinning Mills, Develop VIdarbha as biggest textile hub, Devendra Fadnavis, finished goods, raw product, special package, VIDC

The Maharashtra chief minister Devendra Fadnavis plans to develop Vidarbha as the biggest textile hub of India as he believes that farmer’s problems will not resolve with just one time financial package. There has to be alternate avenues to channelize their cotton and ensure higher remunerations long term.
The state government is going to announce a special package for Vidarbha next week to promote cotton based industries in the region.

Related Keywords: approved investment plan, Chinese largest textile group, Cotton Spinning Mills, Faisalabad Shandong Ruyi Textile Park, FIEDMC, first installment, International Commercial Bank of China, losing competitive edge, Shandong Ruyi

A delegation from the International Commercial Bank of China (ICBC) visited the project site and approved the investment plan for the Faisalabad Shandong Ruyi Textile Park, according to Faisalabad Industrial Estate Development and Management Company (FIEDMC) officials.

Shandong Ruyi, largest textile conglomerates in China in order to start construction work for Pakistan’s largest cotton-spinning mills has made their first installment to the FIEDMC.

Related Keywords: cotton price, Cotton Spinning Mills, Indian cotton industry

Good monsoon and a better crop size of cotton may help in keeping the price of cotton viable for the industry in the next few months, thereby increasing the profitability of cotton yarn spinning mills.

The spinning mills in India have good potential with the foreseeable surge in demand for cotton yarn in the export and domestic apparel and home furnishings sector.