News Tags

Related Keywords: Bangladesh’s garment industry, Garment Manufacturing, Indian cotton import, spinning units in Gujarat, textile park in Gujarat, yarn imports

Bangladesh proposes to set up a textile park in Gujarat as it is largely dependent on Indian cotton for its garment industry.

Bangladesh is focusing on Kadi, also known as the 'Cotton City' of India near Ahmedabad for the project and the initial investment is estimated to be Rs 240-300 crore.

The textile park will have spinning units aiming to have cumulative capacity of 1 lakh spindles. Bangladesh has sought around 100 acres of land from the state government for the project.

Related Keywords: coastal textile hubs, Cotton Corp of India, cotton prices overseas, cotton sowing, Indian cotton import, lower freight costs, new cotton, spinning mills, weak monsoon

India’s cotton import witnesses rise in recent week as cotton sowing has been delayed this year due to weak monsoon raising concern about production followed by sharp decline in cotton prices overseas.

Mills in the coastal textile hubs of southern India have started bringing in shiploads of cotton from Africa due to lower freight costs and as benchmark prices fell to a five-year low on Aug. 1 because of the prospect of ample global supply.