Textile Sphere News Roundup - 19 Nov 2024
1. Cotton Farmers Protest
Fraud in Weighing Process
Farmers in Chintapalli
(Nalgonda) staged a major protest on the Hyderabad-Nagarjuna Sagar state
highway, accusing local cotton mill management of fraudulent practices in
weighing their produce. According to several farmers, discrepancies were found
between the weights recorded at independent weighbridges and those at mills,
with some reporting differences as significant as 60 kilograms. This disparity
has led to allegations of systemic manipulation aimed at underpaying farmers
for their cotton. The protesters are demanding stricter oversight and the
installation of transparent weighing systems to ensure fair pricing,
emphasizing the need for government intervention to address these issues.
2. Union Minister Highlights
Delays in CCI Cotton Procurement in Andhra Pradesh
Union Minister of State for
Rural Development and Communications, Pemmasani Chandra Sekhar, criticized the
Cotton Corporation of India (CCI) for delays in procuring cotton at their
centres in Andhra Pradesh. Speaking from Guntur, the minister highlighted the
growing frustration among farmers, many of whom are waiting extended periods to
sell their produce. Dr. Chandra Sekhar held discussions with CCI officials to
address inefficiencies and personally interacted with farmers to understand the
ground realities. In response, the CCI has deployed senior officials to monitor
operations closely and streamline the procurement process to reduce waiting
times and improve efficiency for affected farmers.
3. Textile Exports See 5.9%
Growth in October 2024
Pakistan’s textile sector
recorded a 5.9% month-on-month increase in export revenues for October 2024,
reaching $1.56 billion, according to the State Bank of Pakistan. This marks a
positive trajectory for the industry, which also achieved a 7% year-on-year
growth compared to October 2023, when exports were $1.45 billion. The total
export value for the first four months of FY25 now stands at $5.81 billion,
reflecting a 5.1% increase over the same period last year. Despite these gains,
industry stakeholders remain cautious, citing challenges such as global
economic uncertainty, rising costs, and subdued demand in key markets.
4. Indian Textile Exports
Poised to Benefit from Trump’s Policies
The return of Donald Trump
to the White House is expected to bring opportunities for India’s textile
exporters, as the US President-elect has emphasized reducing reliance on
Chinese imports. This shift coincides with political instability in Bangladesh,
a major textile exporting nation, where global fashion brands are diversifying
their supply chains. Indian exporters see this as a chance to expand their
presence in the US market by leveraging competitive advantages and robust
infrastructure. Industry experts predict that strategic engagement with US
buyers during this period could significantly boost India’s share in the global
textile trade.
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