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Related Keywords: Baburao Chinchansur, backward districts of the state, Bandalli village in Yadgir district, foundation stone laid, hi tech textile training centre, improve condition of cotton farmers and weavers, Kadechur-Badiyal industrial hub, process of establishing textile park, Textiles and Ports Minister

Foundation stone was laid for the construction of a hi-tech textile training centre at Bandalli village in Yadgir district identified as one of the backward districts of the state by the Nanjundappa Committee.

The stone laying ceremony was done by the Textiles and Ports Minister as well as district in-charge Baburao Chinchansur on Saturday. On this occasion, Mr. Chinchansur said that it was because of former Union Minister Mallikarjun Kharge’s efforts that the textile training centre was coming up here.

Related Keywords: chemicals and dyes, claiming input tax credit, eight textile dyeing and printing mills, fabrics, fake tax invoice, ITC, oil, purchasing raw materials like lignite, reducing liability to pay VAT, Sachin and Pandesara GIDC, VAT department raids

Eight textile dyeing and printing mills in the city's Sachin and Pandesara GIDC were held for claiming input tax credit (ITC) on fake tax invoices and thereby reducing their liability to pay VAT by the VAT department of state government on Friday.

Under the VAT system, bogus dealers (dealers who take registration on wrong credentials and then disappear) issue fake tax invoices on the strength of which genuine dealers claim input tax credit and reduce their VAT liability. Now, the VAT department has tightened the noose on such mill owners. A huge ITC racket is likely to be unearthed.

Related Keywords: cotton oil seeds, declined by fifty rupees per maund, KCA, open markets in Pakistan, price of prime quality cotton, reflect adjustment in commodity price, revised down official spot rat, textile mills cotton bales

The price of prime quality cotton witnessed decline by Rs50 per maund to Rs4,750 per maund at open markets in Pakistan on Friday. The Karachi Cotton Association (KCA) also revised down its official rate by Rs50 per maund (37.324 kilogram) to Rs4,600 per maund to reflect adjustment in the commodity price.

Related Keywords: collection inspired by British Bulldog, Emerging fashion designer Manish Bansal, felted and embroidered forms, ornamentation and creative use of textile, showcase at Lakme Fashion Week, Union Jack

Emerging fashion designer Manish Bansal is all set to create a buzz yet again by showcasing his Winter/Festive collection inspired by British Bulldog at Lakmé Fashion Week to be held from August 26th to 30th, 2015 at Palladium Hotel, Mumbai, India.

Related Keywords: demand for raw cotton, destroyed standing cotton crop, due to loss in recent flood, import various qualities of cotton, KCA, Pakistani lint remains cheaper, Pakistani textile and spinning sector, Punjab and Sindh region, to meet shortfall

The Pakistani textile and spinning sector will have to import more than 1.1 million bales of various qualities of cotton in the next eight months of FY2015-16 in order to meet the shortfall and its demand for raw cotton that has gone up to around 15 million bales (of 175 kg each). This is due to the loss of one million bales of cotton in the recent floods, which destroyed standing cotton crop in Punjab and Sindh according to Karachi Cotton Association (KCA).

Mono ethylene glycol prices in Asian markets declined in the first week of August as traders turned increasingly bearish amid falling crude oil, which depressed prices of polyester feedstock. Markets were spooked further by reports of the huge inventory built up in east China inventory, which was attributed to low operating rates at Chinese polyester industry.

Related Keywords: MEG price in China, MEG price in Europe, meg price in US, MEG prices, mono ethylene glycol prices, Polyester prices

Related Keywords: BASF SE, chemical companies, fluctuation in prices of raw materials, Global monoethylene glycol (MEG) market, highly competitive, major setback for MEG market, Nan Ya Plastics Corporation, PET, polyester fiber, presence of large oil and mining, Reliance Industries Limited, Royal Dutch Shell, Saudi Arabia Basic Industries Corporation (SABIC)

Global monoethylene glycol (MEG) market is anticipated to touch $ 40.85 billion in 2023 from reported turnover of $ 27.21 billion in 2014, which stood at 24,782.6 kilo tones, expanding at a CAGR of 6.1 percent between 2015 and 2023, according to a Transparency Market Research report. Monoethylene glycol is produced from ethylene, a downstream product of crude oil and natural gas.

COTTON growers and buyers in the lake zone due to drought stand to suffer substantial losses this year. Besides the bad weather, the collapse of contract farming has had a negative impact on cotton production.

Related Keywords: into fibers, invent way to create, meat processing plants, Philipp Stoessel, precipitated with an organic solvent, Swiss scientist, transforms animal rendered gelation, using leftover parts, Wendelin Stark, wool like fiber, Zurich Functional Materials Laboratory

A team of Swiss scientists, led by Wendelin Stark and Philipp Stoessel, have invented a way to create a wool-like fiber using leftover parts from meat-processing plants. The technique, which was fine-tuned over four years at Zurich’s Functional Materials Laboratory, transforms animal-rendered gelatin into fibers that share many of wool’s qualities, including softness and thermal insulation.

Related Keywords: active mills, causing rise in rates, Cotton market, demand for fine quality, official spot rate unchanged, pause in phutti arrivals, price maintained firmness, supply position still tight, trading activity may decline

Prices maintained firmness at cotton market on Thursday with demand for fine quality from active mills. According to some brokers, supply position is still tight, causing a rise in the rates. The official spot rate was unchanged at Rs 4,650. In Sindh, seed cotton prices also remained unchanged at Rs 2450 and Rs 2550 and in Punjab rates were at Rs 2350 and Rs 2550.