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Related Keywords: CCEA, coming budget, focus on labour incentive sector, fund allocation, latest and previous avatars of TUFS, new duty drawback scheme, see substantial jump, settle both old and new claims, special package for garment industry, Textile Ministry

The textile ministry although has in recent months cleared some of the old claims yet a chuck of claims are to be cleared for which the ministry is already seeking funds to settle both old and new claims under the latest and the previous avatars of the Technology Upgradation Fund Scheme (TUFS) as well as to cater to claims of refunds under the new duty drawback scheme announced as part of a special package for the garments industry in June, sources said.

Related Keywords: affecting powerloom sector, cotton price, declining slowly, demonetization, Erode Powerloom Owners Association, fix price, high production cost, huge quantity of cloth, of All Traders and Industries Association, power looms in Erode closed down, powerloom owners, stability of cotton and yarn prices, Textile Ministry

Cotton price that stood at Rs 52,000 a bale (172 kg) some months back has started declining slowly which is now available at Rs 46,000 to Rs 48,000 a bale. A steep decline in yarn prices is affecting the powerloom sector. About 2,000 of the about 10,000 power looms in Erode and surrounding areas closed down in the last three days, with the danger of many more following suit, according to a senior official of Erode Powerloom Owners Association.

Related Keywords: declining textile exports, exploring new markets for textiles exports, Indian textiles, road shows, Textile Ministry

Declining textile exports have prompted India to look outside traditional markets and tap the ones being served by competitors such as China. The textiles ministry of India is planning to do roadshows to promote textile exports in the new markets.

They used to hold roadshows in the past and wanted to approach new markets through these. They have identified Russia, South America and West Asia to boost exports.

Related Keywords: Handloom weavers, insurance cover, Textile Ministry

The ministry of textiles plans to increase the insurance cover for handloom weavers, a sector that is on the government radar for occupation creation, more than three-fold in some cases. The Mahatma Gandhi Bunkar Bima Yojana provides insurance to handloom weavers in the case of natural and accidental death and total and partial disability.

The ministry has proposed increasing the cover for accidental death from Rs 1.5 lakh to Rs 4 lakh. In case of natural death, benefit may be raised to Rs 2 lakh from Rs 60,000 now.

Related Keywords: cotton corporation of India, cotton prices shooting up, cotton stocks, e sale of cotton stock, minimum support price, msms textile mills, SIMA, Textile mills, Textile Ministry

With cotton prices shooting up, the Textile Ministry to keep prices under check has directed the Cotton Corporation of India to sell cotton purchased by it. CCI will start e-sale of cotton stock with it to to micro, small and medium-scale (MSMS) textile mills in a couple of days directly at minimum support price, according to the official.

Related Keywords: allowing them to withdraw, extend concessional loans, handloom weavers in all states, handloom weavers will be extended credit, sanctioned amount from ATMs, Textile Ministry, to partner, to rope in large public sector banks, under the Pradhan Mantri Mudra Yojana scheme, using RuPay cards, Weaver Mudra scheme

The Textile Ministry has decided to rope in large public sector banks such as the United Bank, UCO Bank, Canara Bank, Bank of India and PNB to partner under the Pradhan Mantri Mudra Yojana scheme to extend concessional loans up to ₹5 lakh to handloom weavers in all States, Alok Kumar, Development Commissioner, Handlooms said.

Related Keywords: artisans, belonging to schedule caste category, entrepreneurs, group insurance scheme, handloom and handicraft sector, higher subsidy to upgrade for powerloom under the modified scheme, jute and sericulture workers, National Jute Manufacturers Corporation, number of welfare measures, powerloom workers free of cost, Textile Ministry, weaves

The textile ministry announced number of welfare measures for weavers, artisans, jute and sericulture workers, and entrepreneurs belonging to the Scheduled Caste (SC) category on Wednesday.

A group insurance scheme has also been decided for the powerloom workers free of cost and will bear the maximum financial burden of such a scheme. The government will bear the weaver’s share of Rs 80 completely, taking its own share to Rs 370 per weaver, out of the total premium of Rs 470 per weaver. The remaining Rs 100 per weaver will continue to be paid from the Social Security Fund of LIC.

Related Keywords: AGMC, at Bodhjungnagar industrial estate in Tripura, financial assistance to run the unit after commissioning, first AGMC inaugurated in Nagaland, in each eight northeastern states, provide eighteen crore for setting up readymade garment manufacturing unit, second readymade apparel manufacturing unit inaugurated, Textile Ministry

With the textile ministry providing Rs.18 crore for setting up of a ready-made garment manufacturing unit or ‘Apparel and Garment Making Centre’ (AGMC) in each of the eight northeastern states. The North east's second readymade apparel manufacturing unit was inaugurated at western Tripura’s Bodhjungnagar industrial estate on Friday.

Related Keywords: advises government on pricing policy, Agriculture Ministry, boost jute production, Commission for Agricultural Costs and Prices, cultivation declining in recent years, inflationary trends, major farm produces, Niti Aayog pitched for marginal increase, proposed hike in MSP, raw jute, statutory body, Textile Ministry

The Agriculture Ministry in order to boost jute production has proposed hike in minimum support price (MSP) of raw jute because its cultivation has been declining in the recent year.

In the Cabinet note, Agriculture Ministry has proposed an 18.5 percent increase in jute MSP to ₹3,200 a quintal for 2016-17, which is in line with the CACP’s recommendation, according to sources.

In 2015-16, the jute support price was fixed at ₹2,700.

Related Keywords: dwindling cotton yarn exports, export benefits, extension of interest subvention, import of man made fiber, measures to salvage textile value chains, reduction in excise duty, removal of import duty, representations by textile industry, Southern India Mills Association, special additional dutry levied, Textile Ministry, under MEIS and IES

In representations by industry bodies led by the Southern India Mills Association, the government has been asked to announce measures to salvage the textile value chains and dwindling cotton yarn exports.

The textile industry has sought a reduction in central excise duty from 12.5 to 6 percent and removal of the 5 percent import duty and 4 percent special additional duty levied on the import of man-made fibre. Currently, Indian man-made fibre are 23 percent more expensive globally.