Textile Industry Fears Worest Days

Exports in the first five months relate to orders received earlier. The slowdown in the market will now get reflected in the coming months. For several orders already obtained, buyers were seeking either delayed delivery or just 70 or 80 per cent of the shipments, Mr. Nair said. The core problem for the industry now is the global demand recession, says V. S. Velayutham, Chairman, Cotton Textiles Export Promotion Council. For the last one year, there had been issues such as appreciation of the rupee against the dollar, spiralling cotton prices, power shortage and hardening of interest rates. But, the main problem is that the market had not grown in proportion to the capacity additions. Instead, demand was declining, he said.
In the case of investments, projects worth Rs. 19,917 crore were sanctioned under the Technology Upgradation Fund Scheme in 2007-08. For the current financial year, projects worth Rs. 6,509 crore were sanctioned till the end of September 2008 and the official expects the total value of projects sanctioned to go up to about Rs. 12,000 crore for the entire year. The industry contends that it will be just Rs. 9,000-10,000 crore. According to CITI, the second quarter results of 50 major textile companies showed a decline in net profit, and in many cases, there were losses. The Index of Industrial Production for the textile sector for April-October declined by 0.2 per cent as against the same period last year.
With the slowdown, investments happening in the sector now are mainly for replacements and maintenance. When about 30 per cent of the capacity is lying idle, why the units go in for additional capacities, asks Mr. Nair. In such a scenario, the industry has to offer goods at competitive prices to overseas buyers. Main problems such as high domestic price of cotton and interest rate for working capital loan need to be addressed, they said.
printland5762 2p · 240 weeks ago
Custom face mask
varun · 239 weeks ago
machinerydukaan1 · 228 weeks ago
Power weeder dealers in Uttar pardesh
Power Sprayer in Uttar Pardesh
HTP Sprayer dealers in Uttar pardesh
Brush cutter in Uttar pardesh
Power Weeder
Diesel Engine in uttar pardesh
ajay · 215 weeks ago
machinerydukaan · 214 weeks ago
honda power weeder
honda power weeder in India
<a href="https://www.machinerydukaan.com/products/detail/small-power-weeder-power-tiller
">power weeder online
Greaves 1510 Diesel Engine
briggs & stratton xr2100
<a href="https://www.machinerydukaan.com/products/detail/small-power-weeder-power-tiller
">power weeder online
htp power sprayer
briggs & stratton xr550
honda power tiller
dfgfgfg55 · 193 weeks ago
ollieandjames.com · 193 weeks ago
prakriya hospital · 180 weeks ago
prakriya 13p · 180 weeks ago
peopletree · 179 weeks ago
trustwell hospitals · 178 weeks ago
trustwell hospitals · 178 weeks ago
trustwell · 178 weeks ago
trustwell hospitals · 178 weeks ago
anoopjhurani 4p · 175 weeks ago
Hip Replacement in Jaipur
Sivakumar · 174 weeks ago
anoopjhurani 4p · 173 weeks ago
Robotic Joint Replacement India
ROINET · 172 weeks ago
Are you looking for small business ideas for rural areas ? Then come and start your business with ROINET solutions. Be a partner with us and help us in serving the underserved. We provide facilities like digital banking, doorstep banking, AEPS, domestic money transfer, mini ATM, bill pay and utility services, insurance, loans, etc.
greenfield housings · 171 weeks ago
By
GreenField Housings Coimbatore
Greenfield Crown City
Greenfield Emerlard City
greenfieldhousing
greenfieldhousings@gmail.com
9750822467
royalpicks cars · 169 weeks ago
thanks for sharing
by
royalpicks self drive cars
self drive car rental in Coimbatore | self drive cars Coimbatore
self drive car rental in Theni | self drive cars Theni
self drive car rental in Chennai| self drive cars Chennai
self drive car rental in Madurai | self drive cars Madurai
self drive car rental in Trichy | self drive cars Trichy
self drive car rental in Salem | self drive cars Salem
royalpicks cars · 169 weeks ago
thanks for sharing
by
royalpicks self drive cars
self drive car rental in Coimbatore | self drive cars Coimbatore
self drive car rental in Theni | self drive cars Theni
self drive car rental in Chennai| self drive cars Chennai
self drive car rental in Madurai | self drive cars Madurai
self drive car rental in Trichy | self drive cars Trichy
self drive car rental in Salem | self drive cars Salem
ramajyothiji 6p · 160 weeks ago
vijay · 159 weeks ago
ram · 159 weeks ago
owen · 156 weeks ago