Thursday 29 October 2015

20 Percent Annual Growth Expected In Technical Textile Industry.

Technical textile Industry

Technical Textiles, as you may already know are nothing but the textile products manufactured for purposes other than aesthetic. These include the textiles required for application in automotive, medical textiles, agro-textiles, as well as those required for making protective clothing, such as spacesuits, bulletproof vests, or that worn by the fire-fighters and welders etc.  Technical textiles also include materials and products used for their technical performance and functional properties such as tyre cords, airbags, industrial textiles, furniture lining, tents, parachutes etc.

Friday 23 October 2015

Repo Rate Cut Welcomed By Textile Industry

Repo rate cut by RBI

To begin with, Repo Rate is precisely the rate at which the Central Bank of the country lends money to all commercial banks during the event of shortage of funds.

In a recent financial move the RBI Governor, Dr. Raghuram Rajan announced a cutback on the current repo rate from 7.25 percent to 6.75 percent, which was brought into effect immediately on 29th September, 2015. This repo rate deduction of 50 basis points has been more than welcomed by the textile industry of the country, simply for the reason that this cut will majorly benefit capital-intensive industries.

Thursday 8 October 2015

Reinventing Home Furnishing Textile through Recycling


As surprising as it may sound, the urban waste comprises of a substantial amount of textile wastes, which usually comes from the end-consumers. While there are certain commercial as well as charity organisations that come forward and take up some part of this waste, but the better part of it is still discarded. It is dues to the unending burden of this waste, that new possibilities are being tapped so as to make it commercially viable.

Wednesday 30 September 2015

Knit city of India "Tirupur"




Kint city of India

Tirupur, a small town in the state of Tamil Nadu, started off as a market for raw cotton back in the day, has today become a strong base for the setting up of cotton ginning factories. In due course, the local economy of this South-Indian town gave way to hosiery cluster and is today known as the country’s biggest knitwear cluster accounting to a whopping 90% of the nation’s total knitwear exports.  Let us take a closer look at what is now known as the ‘Knit City of India’ and rightly so!

Wednesday 23 September 2015

Importance of GST(Goods and Services Tax) For Textile Industry

Goods and services Tax

The Goods and Services Tax or GST is a form of Value Added Tax which is predisposed to include all the indirect taxes and would be the same for every region of the country unlike the VAT. Simply put, the GST will allow the state government to get a share that was earlier entitled only to the centre in the form of Central Sales Tax.The Goods and Services Tax, if and when approved will benefit the textile industry in more than one ways, and hence it is only just to study the importance of GST in this context.

Thursday 17 September 2015

Tamil Nadu announces Schemes to boost textile Industry

Indian Textile Industry


It was only this month that the Tamil Nadu State Government announced various schemes to boost the state’s textile industry. In fact, the Chief Minister of the State, Ms Jayalalitha also waved a green flag for the setting up of a panel which is assumed to aid integrated development of this sector.

Monday 31 August 2015

Evolution of Garment/Textile Industry




Evolution of Indian Textile


The evolution of the textile as well as the garment industry in India, if nothing, has been quite dramatic. In fact the Indian textile industry is hugely diverse much like the nation itself.  As strong as this industry is, it derives this innate vigour from its wide range of fibres or yarns, right from the natural ones like cotton, wool, jute and silk, to the synthetic ones of the likes of polyester, nylon, acrylic and viscose. While the sector was no less than thriving under the British Rule, it was only after independence that the Indian textile industry shot up like never before. Thanks to the 5-years plans, the sector saw a steep rise, of the magnitude of 22 million in production in 1982, just double of what it was in 1951. It further registered an increase and went up to 26 million, by the end of the year 1989.