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Related Keywords: fabric production, MEG are also rising, polyester yarn prices, prices of petrochemicals like DMT, PTA, raw materials for producing polyester yarn largely used by Surat based power looms, Surat based power looms, Surat textile industry, Surat textile weavers and processors, synthetic fabric, yarn

There was a meeting last week of all Surat power loom co-operatives and job workers involving hundreds and thousands of workers where they have proposed to reduce daily operating shifts from three to two. Many employees are also starting to go on leave. Reducing shift means fall in production. A leading composite mill executive said that post GST, there was a fall in a third of Surat synthetic fabric production.

Related Keywords: disturbed by indefinite strike, entire chain into textile industry incurred lost of two hundred fifty crore, finished products of sarees and dress materials stuck in transport godowns, SMC to seal seventy others at Umarwada in the city, stopped taking booking from textile traders, Surat Market Transporter Association, Surat textile industry

Following an indefinite strike, over 350 trucks of the Surat Market Transporter Association have not left the city for the past two days and also have stopped taking bookings from textile traders in Surat due to which the textile industry has lost Rs 250 crore. The entire chain into the textile industry has been disturbed as their finished products of sarees and dress materials are stuck in transport godowns.

Related Keywords: economic slowdown coupled with liquidity crisis, fluctuating fuel costs, FOSTTA, last six months, led to subdued demand, low demand for textile products, produced more than buyers demand, SGPA, Surat textile industry, witness rise in inventory

The Surat-based textile industry has been witnessing rise in inventories by 20-30 percent at textile units as the demand for textile products is more or less stagnant since last six months.

Due to economic slowdown coupled with liquidity crisis in the market has led to subdued demand for textile products from the city. Moreover, reduced demand has resulted in buyers keeping less stock with themselves leading to higher inventory for textile makers in Surat, according to industry sources.

Related Keywords: anti-dumping duty, festive season, liquidity crunch, low market response, manmade textile players, raw material prices, South Gujarat Textile Exporters' Association, South Gujarat Textile Processors Association, Surat textile industry

Dull business since past 4-5 months has created liquidity crunch among the man-made textile players, especially in the processing, dyeing and weaving value chain. This has led to reduced ability among the textile players to process orders for the festive season this month.

Related Keywords: eye on Nepal, FOSTTA, import duty structure textile trade, labour unrest, MMF sector, Surat textile industry, textile factories in Nepal

Surat textile, India's biggest man-made fabric (MMF) sector has set their eyes on Nepal as a large number of textile factories in Nepal have either closed down or are on the verge of closure due to labour unrest, high taxes, and unclear government policies etc.

The office-bearers of the Federation of Surat Textile Traders Association (FOSTTA) are planning to visit Nepal, their neighbouring SAARC country to explore opportunities to increase the textile trade.

Related Keywords: mega-cluster, Surat textile industry, textile value chain, Union budget

The union budget presented by the Finance Minister Arun Jaitley in the Parliament on Thursday wherein it was announced setting up of a mega-cluster in Surat for textiles has been welcomed by the Gujarat textile industry.
 
Of the six textile mega-clusters proposed to set up, one of it will be in Surat. Surat textile industry, which involves spinning, weaving, processing, garmenting and exports, employ around 1.5 lakh people directly. Market estimates put the industry turnover in the range of Rs. 40,000 crore –Rs 50,000 crore annually.
 

Related Keywords: Surat textile industry

Andhra Pradesh (AP) has been a major market for the Surat-based synthetic textile industry as on an average, around 50-60 trucks carrying readymade sarees, dress materials and other textile products plied everyday to AP from Surat worth roughly around Rs 10-12 crore. Currently, they are not even doing 25 percent of the normal business that they used to do with Andhra Pradesh.