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Related Keywords: Amravati, capital subsidy, cotton growing area, develop land, Devendra Fadnavis, easy shifting of textile mills, help NTC shut mills, land in Mumbai, Maharashtra Chief Minister, National Textile Corporation, set up textile units, textile policy

Maharashtra chief minister Devendra Fadnavis in a meeting with National Textile Corporation (NTC) official a fortnight ago made it clear that the government would help NTC shut its mills in Mumbai and develop the land, provided it set up textile units in Amravati. The condition is to set up the mills there, operationalize them and only then would the government allow NTC to commercially exploit its land in Mumbai.

The decision likely to be opposed by political satraps in Satara, Sangli, Solapur and Ichalkaranji who have interests in the textile industry in these regions.

Related Keywords: expand manufacturing capacity, facility at Anjar, farm-factory-fabric-fashion-foreign, largest terry towel producer, modernization and expansion, spinning capacity, textile business, textile policy, towel manufacturing capacity, Welspun India, Welspun project

Welspun India, Asia's largest and the 2nd largest Terry Towel producers in the World based in Mumbai, as part of its expansion plan would be making investment of Rs 2,500 crore in their textile business over the next 12 months period t to expand manufacturing capacities.

The new facility will be involved in doubling Welspun's spinning capacity to over 3,00,000 spindles, thereby fulfilling nearly 70 percent of the fine and super fine yarn requirements of the company.

Related Keywords: $120 billion, $650-billion growth, 35 million workers required, apparel sector, domestic sector, draft vision paper, manufacturing policy, textile policy

The draft vision paper, given to the ministry in July, aims at bringing investment of $120 billion, so the sector can achieve $650-billion growth by 2024-25 for which it will require 35 million workers to achieve the growth target.

Related Keywords: Abbas Khan Afridi, business centre, export incentive, Pakistan textile industry, textile export, Textile Minister, textile policy

Pakistan textile exports which presently stand at $13 billion likely to see a boost with the implementation of textile policy. The textile policy is likely to be announced in the second week of July. Subsequent to the implementation of textile policy the people will see rapid growth in textile sector of the country and there will be an increase of at least $1 billion in the first year and $2 billion from the second year.

Related Keywords: cotton, Pakistan textile export, Pakistani textile sector, textile economy, textile policy

The Government of Pakistan seems to increase its participation in the shaping of textile economy of the country. In the yesteryear viz. 2012-2013, the textile sector had obtained a payout of Rs.2 billion. But the one year performance of the textile industry has invoked the government to make as increase in the investment upto Rs. 3.5 billion.

Related Keywords: cotton, cotton policy 2014-19, Pakistan textile export, Pakistan textile sector, readymade garment, textile policy

The Pakistan Textile exports for the period July-March 2013-14 has show a 8 percent raise, while exports in all value added categories has increased considerably i.e. bed wear by 21 percent, hosiery by 10 percent and readymade garments by 9 percent. Increase in textile exports followed due to the disbursement of Rs.3.5 billion by the government for the textile sector in shape of drawbacks, export finance support and mark up support, according to one year performance report of the government.

During the previous year 2012-13 only Rs. 2 billion was provided by the Government.

Related Keywords: fabric, garment, Pakistan textile industry, Sales tax, textile machinery, Textile Ministry, textile policy, yarn, zero-rated custom duty

As the textile policy (2009-14) formulated by the previous government will end on June 30, 2014. The Pakistan government is contemplating to impose 17 percent sales tax on import of textile machinery on expiry of the current facility ending in June, which is covered under the zero-rated custom duty and sales tax regime. Also the 2 percent sales tax on yarn, 3 percent of fabric and 5 percent on garments would be raised to 17 percent in next two year.

Related Keywords: Technology Upgradation Fund Scheme, textile policy

The delinking of Technology Upgradation Fund Scheme (TUFS) from the state textile policy has turned out to be a good decision. The Maharashtra state government despite global economic meltdown has received 1,331 new textile project worth Rs.12,000 crore in one and half years under the new textile policy.

They are look forward to meeting the target of Rs.40,000 crore investment sooner than the five year time frame with the delinking of TUFS.