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Related Keywords: avail government assistance, buyer-seller meet-cum-powerloom product mela TEXPO, GIS, Ministry of Textiles, PDEXCIL, powerloom weavers, RTUFS, spinning sector, subsidy outflow, TUF

At the inauguration of the fourth edition of the buyer-seller meet-cum-powerloom product mela ‘TEXPO – 2015,’ jointly organized by the Powerloom Development and Export Promotion Council (PDEXCIL) and the Regional Office of the Textile Commissioner under the Ministry of Textiles, Government of India. PDEXCIL’s Chairman, M. Duraisamy, called upon the powerloom weavers to avail themselves of government assistance.

Related Keywords: cotton price, cotton textile industry, cotton working capital, cut in excise and import duties, higher fund allocation, market of man made textile products, Santoch Gangwar, SIMA, Textile Industry, Textile Minister, TUF

Textile industry are seeking reduction in excise and import duties while pitching for higher fund allocation as it will enable Indian textile industry to achieve a substantial growth rate in the market of man-made textile products as this segment has not achieved any growth rate over a period. In this regard, South Indian Mills Association (SIMA) representatives met Textile Minister Santosh Gangwar.

Related Keywords: appoint external agency, duty structure, Financial Minstry, fluctuation in cotton prices, Inventory policy of China, MMF cluster, Texpreneurs Forum, Textile Industry, TUF

Texpreneurs Forum is planning to submit a report on the financial stress faced by the textile industry in the last 2-3 year to the Finance Ministry for that they are in the process of appointing an external agency to conduct a study of the textile industry.

D Prabhu, Secretary, Texpreneurs Forum said that this is consequent to their meeting with the powers that be at the Centre and the recommendations made by the Textile Ministry to the Department of Financial Services under the Union Finance Ministry for lowering the interest on working capital loan for purchase of cotton.