1. Uttar Pradesh to Launch
11 New Private Textile Parks
The Uttar Pradesh
government, under Chief Minister Yogi Adityanath, plans to establish 11 private
textile parks across the state. The first park, worth ₹726 crore, will be
located in Shamli district, aimed at boosting local textile production and
generating employment. Six of these parks are expected to be set up in
Gorakhpur, Mau, Bhadohi, Aligarh, Baghpat, and Shamli.
The first park will span 26.75 acres in Jhinjhana village, Kairana tehsil, and house 17 production units covering weaving, dyeing, printing, and garmenting. With a zero liquid discharge system and a combined effluent treatment plant (CETP), this initiative supports eco-friendly practices. The project is expected to be fully operational by December 2025, creating approximately 5,000 jobs. (Read More)
2. Indian Home Textile
Industry to Record 6-8% Revenue Growth
India’s home textile sector
is poised for a 6-8% revenue growth this fiscal year, following a strong 9-10%
rebound last year, according to a CRISIL Ratings report. This growth is
attributed to resilient demand from the U.S. and expanding domestic markets. The
report analyzed 40 companies, representing 40-45% of industry revenue, and
projects a stable operating margin of 14-15%.
Mohit Makhija, Senior
Director at CRISIL Ratings, highlighted key drivers of this growth: strong U.S.
consumer spending, normalized inventory levels, and competitive cotton prices
domestically. Despite challenges like container availability, the sector is
expected to maintain steady export levels to the U.S., accounting for about 30%
of total U.S. imports. CRISIL also forecasts stable interest coverage and
minimal reliance on external debt, reflecting the industry’s solid financial
footing.
3. Cotton Procurement Delays
Raise Concerns for Farmers in Adilabad
Farmers in Adilabad,
Telangana, are facing challenges due to delays in establishing cotton
procurement centers across the region. With limited procurement centers
identified in Asifabad and Mancherial districts, farmers have been compelled to
sell their produce to private traders. Many have expressed frustration, citing
the need for additional centers to ensure fair pricing.
4. Andhra Pradesh: New Cotton
Procurement Centre in Saluru
To address the fluctuating
cotton prices and challenges faced by local farmers, the agricultural marketing
department in Andhra Pradesh has opened a new cotton procurement center in
Saluru’s market yard, Parvathipuram Manyam district. District Agricultural
Marketing Officer I. Gangadhara Rao assured farmers of fair pricing and
encouraged them to use the new facility rather than relying on unauthorized brokers.
The center is expected to stabilize the cotton trade and support the
livelihoods of local growers.
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