Cotton spinning mills in northern India facing crisis due the excess spinning capacity and decline in exports this fiscal year have resulted in poor cash flow and excessive stocks due to which they are planning to shut down one day a week, according to Chandigarh based Northern India Textile Mills’ Association (NITMA) having 98 member mills that includes leading names such as Vardhaman and Trident, etc.
Mr. Sharad Jaipuria, President of NITMA stated that in addition to these fiscal matters, textile policies in some southern states and those of Madhya Pradesh and Gujarat are hitting the northern spinning mills hard.
Senior Vice President of NITMA, Mr. H. S. Cheema stated that the spinning sector plans of shutting the production one day in a week are under serious consideration.
According to Mr. G. Balasubramanian, Secretary General of NITMA, yarn exports have fallen by about 20 percent year-on-year in the first quarter of this year as China has reduced its imports by about 30-40% this year creating a greater blow to the Indian spinning industry. Moreover India has about 10 percent excess spinning capacity .
Swedish outdoor brand Peak Performance has introduced its new Treeline shell collection, designed for people who enjoy outdoor activities throughout…
Xtep has launched its new flagship marathon running shoe range, the 160X 8.0 Ultra, featuring a high-end GT1200 carbon sole…
Researchers at National University of Singapore have developed a method to transform difficult-to-recycle carbon fibre and epoxy composite waste into…
AbTF strengthened its work on sustainably verified natural fibers in 2025, continuing to expand its programs despite challenges across global…
A new UK-funded clean energy project is set to begin in Pakistan, with the aim of converting cotton and other…
Researchers are investigating whether microorganisms can help improve desert sand conditions and make them more suitable for agriculture while using…