Published on October 13, 2014

Textile ministry said that they have received several applications for new textile parks in the country. They said that they are planning and will complete that as soon as possible to benefit the industry. According to Ministry they are planning to schedule a meeting of textile ministers of all states in end of September for forming new textile policies.

Industry sources said that textile players are looking for major improvement in the market in the coming months before coming festive seasons. They said that at present data shows that September end was not good for the industry because of high prices of raw materials.

State Textile Ministry has announced that they are planning to launch a venture capital fund with initial corpus of 35 crore Rs. This Fund will support new start-up in the industry as told by the officials. Ministry has also announced new environment friendly processing technology to boost the industry growth.

Recent research shows that digital printed textile is the new way of growth for the textile industry in the current market. Growth in this segment is likely to boost the production for the textile industry and that will result in high demand of textile chemicals. Industry sources said that industry is doing well for the current week but the demand of related chemical is not so good.