Industries to remain shut for a week in Coimbatore
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Almost all industries in Coimbatore and Tiruppur districts will remain shut for one week from Monday because of complete lockdown in the State to control the pandemic.
Just about 10 % of MSMEs in Coimbatore are in essential and healthcare sectors and only these will operate, said M.V. Ramesh Babu, president of Coimbatore District Small Industries Association. While the foundries in the MSME sector will not operate, the larger foundries are expected to decide individually.
Spinning mills will not function as the government had not given permission even to those units that house the workers on the premises. Garment exporting units will also remain closed.
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Pic: Shutterstock Three US Senators have introduced the Pakistan-Afghanistan Economic Development Act to establish Reconstruction Opportunity Zones (ROZs) in Afghanistan-Pakistan border regions to allow certain products from these areas to enter US duty-free. The (US) President will determine which products, from a specified list of textile and apparel goods, will be eligible for duty-free treatment. These products represent a range of goods commonly imported to the US from Pakistan and Afghanistan, says the bill introduced in the Senate.
The ROZs will generate greater economic opportunity for the people in the war-torn areas and lay the groundwork for a more stable region, said the Senators Chris Van Hollen, a Maryland Democrat; Todd Young, an Indiana Republican; and Maria Cantwell, a Washington Democrat.
Textiles sector worried over completing export orders
April 19, 2021
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As the pandemic rages on, threatening to disrupt economic activity, the textile industry, which has never had it so good on the export orders front, has sent out an SoS to the Centre and to state Chief Ministers.
The industry is at an inflection point with strong growth potential thanks to geopolitical factors. It has benefited from reports, in the last 6-8 months, of China using Uighurs in Xinjiang province as forced labour. This led to many top global textile brands moving orders to Indian players.
“I think most Western nations have banned sourcing from China. So, India is having a good deal,” T Kannan, Chairman and Managing Director, Thiagarajar Mills, told
The Indian textiles and clothing industry has broadly welcomed the
Union Budget 2021-22 presented by finance minister Nirmala Sitharaman in Parliament on February 1. Setting up of 7 mega textiles parks under MITRA, and reducing duty on nylon raw materials are welcomed by all trade bodies, while there is a mixed reaction to 10 per cent import duty on cotton.
The grant to the
textiles and clothing sector in Union Budget 2021-22 is ₹3,614.64 crore, which is about 10 per cent higher than the revised budget of ₹3,300 crore in 2020-21. The budget also puts emphasis on Infrastructure Development and Research & Capacity Building as the grant for these sectors has been increased by about 43.7 per cent and 77.5 per cent respectively as compared to last year. Share of these sectors in total textile and apparel budget allocation for 2021-22 stands at about 6 per cent and 10 per cent respectively.
Textile industry welcomes announcement on parks in Budget 2021
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Last Updated: Feb 01, 2021, 06:42 PM IST
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Synopsis
In a statement here, the Indian Texpreneurs Federation (ITF) appreciated the thrust given to the textile sector by proposing the seven mega integrated textile region and apparel parks (MITRA).
Budget 2021: 10 key takeaways from FM Sitharaman’s announcements for MSME sector
Coimbatore: The textile industry on Monday welcomed the Union Budget presented by Finance Minister Nirmala Seetharaman, particularly the announcement on textile and apparel parks. In a statement here, the Indian Texpreneurs Federation (ITF) appreciated the thrust given to the textile sector by proposing the seven mega integrated textile region and apparel parks (MITRA).