South India Mills Association - Latest News Update, Information, Photos & Videos on South India Mills Association at Lokmat Times

With union budget all set to be presented in Parliament later this week, South India Mills Association (SIMA) on Tuesday expressed concern over the challenges being faced by the textile industry while elaborating on their expectations with the annual budget.Speaking to Selvaraj, General Secretary of SIMA said, "Textile industry has been struggling for the last four years, mainly because of the global recession. And which got aggravated because of the US-China trade war. Under these conditions, our export has also suffered."He also claimed that imports have been affecting the domestic market and hence export incentive schemes should be implemented."The huge amount of ready-made garments are being imported which is affecting our domestic market," Selvaraj said."Similarly, this yarn import has been affecting the spinning segment especially 100 per cent polyester yarn," he added.Outlining the vision for the growth of the textile industry, he said, "The textile ministry is in process of formulating new textile policy with the vision of taking this industry to 350 billion US dollar by 2025 and 650 billion US dollar by 2030."Speaking about his expectations with this year's union budget, Selvaraj said that there are two issues- raw material issue and tax barrier issues that need to be addressed."We have been talking about Free trade Agreement (FTA) but now we have requested the government to expedite conclusion of FTA, at least, with Britain, EU and the US so that we also get some opportunities," he added.Speaking on the policies he said, "Vajpayee government brought two policies, technology up-gradation fund scheme and technology mission on cotton. These two schemes are lifelines for our industries which fuels the growth of the textile and cloth industry.""The government spent about 30 crores for subsidies and another 18 thousand crores were allotted by Prime Minster, therefore, we are technologically fine in the global market", he added.He also stated that cotton was the engine of growth for textile industry and technology mission on cotton helped increase the production and now there was a need for new technology to boost the sector."We have prepared a detailed report and submitted to Prime Minister and requested to come out with technology mission on cotton in a revised format with a focus on technology, transfer of technology, clean cotton branding Indian cotton and cotton textile products," he added.He said that the textile ministry has come up with a 'Nirmal cotton mission' which is about clean cotton and branding of Indian cotton.Selvaraj also said that productivity can be enhanced multiple times, if adequate funds are allocated."We have the potential to increase our productivity at least 1000 kg per hectors if not 1500 kg per hector which other countries are easily achieving. We have requested the government to allocate adequate funds, bring back technology mission on cotton and adopt the best global practices as the seeds we are producing will not meet the demand for the next ten years," he said.He also urged the government to provide the necessary infrastructure for the farmers during the transition period.( With inputs from ANI )

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National :SIMA outlines concerns of textile industry, elaborates on budget expectations

With union budget all set to be presented in Parliament later this week, South India Mills Association (SIMA) on Tuesday expressed concern over the challenges being faced by the textile industry while elaborating on their expectations with the annual ...