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Related Keywords: apparels, domestic buyers, fabrics, home textiles, Indian and international buying houses, industry heads and business leaders, made-ups, man-made fibre textiles, procurement managers, retail brands, sourcing agents, South India Textile Research Association, Southern India Mills’ Association, Synthetic and Rayon Textiles Export Promotion Council, technical textiles and accessories, textile trade, yarns

Speaking at a roadshow conducted in association with Southern India Mills’ Association (SIMA) there on last Tuesday, Mr. Ronak said manufacturers and exporters of man-made fibre textiles, including yarns, fabrics, apparels, made-ups, home textiles, technical textiles and accessories, would be showcasing their products at Source India.

Related Keywords: cotton corporation of India, Cotton productivity, cotton traders, fibre, Indian cotton, Price Stabilisation Fund, price volatility, Southern India Mills’ Association

The price volatility often eroded the working capital and profit margins of the industry, restricting the industry growth rate between 6 and 8 per cent againsr the potential growth rate of 12 to 16 per cent.P Nataraj, Chairman, SIMA said that, “Cotton productivity has stagnated at 500-550 kg per hectare against over 1,500 kg/hec achieved by over 20 countries. Australia for instance, has achieved productivity of 2,200 kg/hec.

Related Keywords: cotton buyers, cotton imports in India, cotton prices in india, cotton sellers, cotton shippers, Southern India Mills’ Association, Sri Lanka Ports, textile facilities in Colombo, Textile Industry, Textile mills in southern India, textile warehouses in Colombo

Textile mills in southern India are considering at promoting Colombo as a hub where international sellers and shippers can stock cotton and supply to the mills in south India and also to buyers in other Asian countries. Mills in southern states are expected to import more cotton this year, that is, October 2016 to September 2017.

Related Keywords: appealed to Union government, budgetary allocation, for TUFS to clear dues, meet liabilities of backlog period, release additional funds, Southern India Mills’ Association, subsidy amount, textile units, working capital

The apex body of textile mills in the South, Southern India Mills’ Association has appealed to the Union Government to release additional funds of Rs. 5,500 crore for the Technology Upgradation Fund Scheme to clear the dues (subsidy amount) that need to be paid to the textile units under the scheme.

Hundreds of textile units in the country would be shut down if the Technology Upgradation Fund (TUF) subsidy is not released on time, said SIMA.

Related Keywords: benefit capital intensive industries, by fifty basis points, Make in India vision a reality, RBI, reduction of repo rate, Southern India Mills’ Association, textile to improve competitiveness

Southern India Mills’ Association (SIMA) chairman M Senthilkumar welcomed the RBI’s effort for reduction of repo rate by 50 basis points to bring it at 6.75 percent. The move will benefit capital-intensive industries such as textiles to improve its competitiveness.

The textile industry had been seeking reduction in interest rates. With reduction in interest rate, the industry will be able to invest more and make the ‘ Make in India’ vision a reality. He appreciated efforts made by the RBI in bringing the guideline for base rate so that the banks follow a uniform procedure.

Related Keywords: address market access problems, especially synthetic fibre, focus on four major issues, improve cost competitiveness, make raw material at international prices, process yarn and fabric, promote value addition, set up Centre, set up textile parks, SIMA, Southern India Mills’ Association

The Southern India Mills’ Association (SIMA) will be focusing on four major issues in the next two years – improving the cost competitiveness of the industry and getting the Centre to make raw material available at international prices, especially synthetic fibre, address market access problems, and promote value addition, the newly elected chairman of SIMA, M. Senthilkumar said.

SIMA will promote two textile processing parks in the State that will increase the textile processing capacity in Tamil Nadu by 350 tonnes to 400 tonnes a day.

Related Keywords: benefits from park, for small and medium-scale units, set up textile processing park, Southern India Mills’ Association, Textile cluster, under Integrated Processing Development Scheme

Southern India Mills’ Association (SIMA) welcoming the Chief Minister Jayalalithaa’s announcement made on Tuesday is planning to set up a textile processing park in the State for the small and medium-scale units under the Integrated Processing Development Scheme.

The association chairman T. Rajkumar said that the association will take the lead for implementation of the scheme in the State as there are about 50 SMEs in the Salem, Karur, Erode, Tirupur, Coimbatore and Madurai textile clusters will benefit from the park, when it is developed.

Related Keywords: clear pending dues pending under TUF scheme, expedite trade agreements with China, improve textile industry competitiveness, phase of recession, reduce excise duty on MMF, reduce VAT, seeks interim package, Southern India Mills’ Association, spinning mills in the state, Value Added Tax exemption

Southern India Mills’ Association to support the textile industry, especially the spinning mills is the State which is going through a phase of recession has appealed to the Chief Minister to take up with the Union Government the need for an interim package that will improve the industry’s competitiveness.

T. Rajkumar, chairman of the association said that an interim package will provide subsidy for export of textile products, enabling the industry increase its exports.

Related Keywords: for garment and made up segments, organized seminar, Pradhan Mantri Kaushal Vikas Yojana scheme, skill development scheme, Southern India Mills’ Association, textile sector, Textile Sector Skill Council, workshop

Southern India Mills’ Association (SIMA) to create awareness among garment and made-up segments of the textile sector organized a seminar on June 23 in Coimbatore on the Pradhan Mantri Kaushal Vikas Yojana scheme.

The Pradhan Mantri Kaushal Vikas Yojana scheme provides financial assistance ranging from Rs. 6,000 to Rs. 12,000 each for fresh trainees and Rs. 2,500 for the existing workers to get trained in different skills and to get certified.

The programme was held jointly with the Apparel, Made-ups, and Home Furnishing Sector Skill Council.

Related Keywords: cotton corporation of India, cotton export plan, Cotton Textiles Export Promotion Council, for cotton sales, increase quantity of cotton sale, into domestic market, put off global tender, release more cotton, Southern India Mills’ Association, textile millers, textiles minister

The Cotton Corporation of India (CCI) has taken decision to release more cotton into the domestic market since domestic market is picking up and not to go ahead with its plans to float global tender for cotton sales as it is likely to result in panic in the domestic market and could send out a wrong message, BK Mishra CMD, CCI informed.

CCI has been placing 50,000 bales on a daily basis for the past 10 days on board for e-auction and around 80-90% of this has been picked up by mills.