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The 16th International Textile Machinery Exhibition (ITM2016) which will take off from 1-4 June in Istanbul, Turkey. Groz-Beckert the world’s leading provider of industrial machine needles, precision parts and fine tools as well as systems and services for the production and joining of textile fabrics will showcase its latest innovations of its product area Knitting.

Related Keywords: defaulters in textile market, for clearing payment early, issued public notice, knitted fabric, offered one percent discount, powerloom weavers, South Gujarat Warp Knitters' Association, textile traders and brokers, warp knitting machines, wrap knitters

Many warp knitters have lost huge amount of money to the defaulters in the textile markets to rein in defaults the warp knitters have begun offering the textile traders and brokers one percent discount for clearing payments within 10 days of the purchase.

The South Gujarat Warp Knitters' Association (SGWKA) is a body of industry members representing the warp knitting community in a public notice issued on Thursday also stated that making payments after 25 days from the date of purchase will be liable to pay 18 percent interest on the outstanding dues.