Colour Chronicle - Sept 2012 - Clariant

gleanings from press
greater importance to weaving, processing
and value-added downstream segments of
the textile producing industry.
The debt restructuring proposals
included a two-year moratorium on
repayment of the principal and converting
some working capital loans to term loans.
The textile industry has a debt of ` 55,000
crore and big losses. So far, 59 cases from
the textile industry have been referred for
corporate debt restructuring data and debt
of ` 11,661 crore has been repackaged
under the CDR norms.
According to the Textile Ministry
21 integrated textile parks have been
proposed, in addition to 40 textile parks
for which, the sums have already been
earmarked. The 24 of these 40 textile parks
are already operational, while another 12
are nearing completion.
It may be recalled that the textile
industry has been going through one of the
worst crisis in the last one year with high
volatility hitting the cotton prices. Prices
rose to a high of ` 62,000 a candy (356 kg)
last year and now has declined to almost
half this level at ` 33,000 a candy.
In 2010-11, the cotton yarn export
was put on a ceiling of 720 million kg,
as a result of which many spinners were
struggling with huge inventories. The yarn
glut caused huge losses and most of the
spinners are not operating at full capacity.
Cash crunch due to dearth of orders
and lack of sufficient working capital
are threatening their very survival, say
industry sources.
US $ 18 bn apparel export
target within reach
India is expected to achieve US$ 18 billion
(about ` 1,00,000 crore) apparel export
target set by the government for fiscal
year 2012 – 13, accordingly to Apparel
Export Promotion Council (AEPC), the
official body of apparel exporters in India.
The country exported garment worth US$
11.162 billion (about ` 62,600 crore) in
2010 – 11, growing at a rate of 4.9 per
cent year-on-year, against the target of
US$ 12 billion (about ` 67,000 crore), as
per the data with the Directorate General
of Commercial Intelligence and Statistics
(DGCIS). Last fiscal, compared to its set
target of US$ 14 billion (about ` 78,500
crore), India managed to export clothing
items worth US$ 13.699 billion (about `
76,850 crore) growing at a rate of 22.7 per
cent year-on-year.
According to AEPC, reasons like
favourable dollar rate, incentive announced
in the Annual Supplement to Foreign
Trade Policy (FTP) 2009-10, number of
incentives by way of Focused Product
& Market Scheme (FMS) and exporters’
efforts to explore new export territories
like Japan, Australia, South Africa and
countries in Latin America have been
instrumental in pushing the segment
towards meeting the targets. And it is
optimistic about achieving export target
of US $ 18 billion set by the government
for the current fiscal year.
ITMA 2015 to Drive
Sustainable Innovations
ITMA, the world’s most established
textile and garment machinery
exhibition, will put the spotlight on
innovations that promote sustainability
for its 17th presentation in Milan, Italy, in
2015. A trendsetting showcase of exciting
innovations since 1951, the theme chosen
for the 2015 edition is ‘Master the Art of
Sustainable Innovation’.
Mr. Stephan R Combes, President
of CEMATEX, which owns the show,
said: “The drive towards sustainability is
increasingly integrated with enlightened
business practices. The keyword here is
‘sustainability’, and we hope industry
members will join us in this responsible
mission to promote more eco-friendly
solutions and practices for the entire
textile and garment value chain.”
ITMA 2015 will continue to be an
industry leading platform for the textile
and garment community. It is expected
to span over 1,00,000 sqm of net exhibit
space and attract over 1,400 exhibitors.
Ludhiana textile hub to get
CETP under TUFS
U
nion Minister for Commerce,
Industries and Textiles, Shri Anand
Sharma held meetings with Chief
Minister of Punjab, Shri Prakash Singh
Badal and Chief Minister of Haryana,
Shri Bhupinder Singh Hooda to discuss
the industrial projects in the states. Shri
Sharma was accompanied by a high level
delegation from the Ministry of Commerce
& Industry.
In the meeting with Punjab Chief
Minister, Shri Sharma announced that
Punjab would be connected to the Western
Industrial Corridor (Delhi-Mumbai
Industrial Corridor). The Minister
announced that initially Ludhiana will be
linked to Rewari to provide this connectivity
and there was in principal agreement
between the Central Government and the
Punjab Government for extending this
connectivity to Amritsar, for which the
feasibility will have to be worked out.
Feedback ?
Send your suggestions/entries to
rajendra.gode@clariant.com
Clariant Chemicals (India) Limited
www.clariant.in
Printed and Published by
Prabhat Trivedi, on behalf of Clariant Chemicals (India) Limited
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Chief Editor:
Editorial Co-ordinator:
Consulting Editor:
Editorial Board:
Prabhat Trivedi
Rajendra Gode
Philips Abraham
Tushar Choudhury
U.S. Shashikeerthy
Nirmal Punjabi
colour chronicle 3 | 2012 23