Indian textile mills hope for stable Q4 | Textile News India
Home » News » Textile Mills News » Indian Textile Mills Hope For Stable Q4

Indian textile mills hope for stable Q4


READ MORE ON CCIDemonetisationSIMATextile News India

Textile Mill

Image Courtesy:

Indian textile mills are pinning their hopes on the fourth quarter to overshadow the impact of demonetization over the third quarter. The new terms and conditions of fully pressed bales of CCI (Cotton Corporation of India) facilitates the registered MSME textile units to procure cotton by paying only 10 per cent deposit money as against 20 per cent which is applicable only for the sale quantity of 30,000 bales and above. The industry has welcomed the move.

Also ReadCCI resorts to commercial purchase of cotton

Earlier there was a difference in the free period ranging from 30 to 75 days and 75 days free period was available for the procurement of 15,000 bales and above, which led to MSME textile units’ inability to derive much benefit out of CCI. “However, now the free period has been made uniform and fixed at 45 days which would again help the actual users and the MSME units,” said M Senthilkumar, Chairman, Southern India Mills’ Association (SIMA).

It may be noted that more than 75 per cent of the cotton arrives the market during December to March period and around Rs. 60,000 crore is required to procure the seed cotton during this period. Since the ginning and spinning mills do not have such funds, the farmers invariably get lower price.


Have some news? Let us know on

Recommended by Apparel Resources

Kornit Digital bags orders for Allegro at Heimtextil 2017

Kornit Digital, a global market leader in digital textile printing technology, has received new system orders at the recently held home textile fair...

Indian Textiles Minister assures support to technical textiles sector

Union Minister of Textiles, Smriti Irani, has assured to address the issue of lack of manpower in technical textiles sector of the country...

Indian textile manufacturer Vardhman gets MP Govt.’s nod to expand

Leading Indian textile conglomerate Vardhman Textiles Limited has reportedly got approval from Madhya Pradesh (India) Government for its expansion and modernization plan worth...

India’s SIMA upset over cotton adulteration; seeks Centre’s intervention

The Southern India Mills’ Association (SIMA) has urged the Centre to take action against those responsible for cotton adulteration, as textile mills in...

Arvind installs country’s first Monforts Eco Line denim finishing machine

Arvind, India’s leading denim producer, has installed the nation’s first Monforts Eco Line denim finishing machine for faster production, greater savings in energy, and better flexibility in design and innovation. Installed by...

India’s Textiles, Environment Ministries to discuss issues in handicraft sector

India’s Textiles Ministry and Ministry of Environment are soon expected to host a meeting in order to find short- and long-term solutions for...

INVISTA, Woolrich join forces

INVISTA’s CORDURA® brand and Woolrich, America’s Original Outdoor Clothing Company®, have collaborated to launch a newly reimagined Wool-Dura™ collection, taking inspiration from its hunting-centric predecessor while...

Vibrant Gujarat Summit ’17: MoUs worth Rs. 8,835 crore inked in textile sector

MoUs worth Rs. 8,835 crore in textile sector were signed at 2017 Vibrant Gujarat Global Summit. Various segments included in MoUs are textile...

INVISTA celebrates its 50th anniversary

INVISTA is celebrating its 50th anniversary by launching an array of new fibre and fabric innovations, exciting end-use applications, and on-trend collaborations... “This...

TEA President meets Indian Textiles Minister to discuss issues

Raja M Shanmugham, President, Tirupur Exporters’ Association (TEA) recently had a meeting with Smriti Irani, Indian Textiles Minister, to discuss GST, rebate on...