Textile mills are pinning their hopes on the fourth quarter to ride over the third quarter impact of demonetisation. For this, industry is banking on the textile ministry’s move to allow mills to pay only 10 per cent of procurement money that has come as a breather. According to industry, t…
Tag: Cotton Corporation of India
India’s yarn exports decline
Exports to China, the main buyer of Indian cotton yarn, have declined, industry sources said. China import China imported 149.66 million kg of cotton yarn during the first three months of last financial year (2015-2016) and it dropped to 99.09 million kg during the same period this year. The decl…
CCI to sell cotton stock to spinning mills in MSME category only
The recent spurt in cotton prices has resulted in higher input costs for the spinning sector in India. In view of this situation, the Government reviewed the situation and decided the following: Cotton Corporation of India will sell its existing stock, purchased under MSP, to spinning mills in th…
Textile Industry threatens 2-day production holiday a week
As cotton prices shoot up to Rs. 5,800 a quintal, textile industry is reeling under severe pressure and facing scarcity of raw material. With a not-so-favourable export market and the increasing cost of operations, the industry has decided to declare a two-day production holiday every week in pro…