Textile Sphere News Roundup- 25 Nov 2024
1. Vijayawada: Field Demo of Akira BG-2 Cotton Variety Conducted in Amaravati Village
A field demonstration of
Akira BG-2 cotton seeds, developed by Tulasi Seeds, was organized at Vinnakota
Raja’s farm in Amaravati village, drawing over 500 farmers from 25 nearby
villages. Sheikh Maulana Rafi, Zonal Manager of Tulasi Seeds, explained the
seed’s unique ability to thrive under challenging conditions, resist pink
bollworm, and deliver high yields. Farmer Vinnakota Raja, who has cultivated
Akira cotton for five years, shared his success with yields of 18-20 quintals
per acre despite heavy rainfall. The event was attended by distributors and
company representatives who emphasized the variety’s potential to transform
cotton farming in the region.
2. Harish Rao Visits Khammam
Cotton Market, Calls Out Farmer Struggles
During his visit to the
Khammam Cotton Market, BRS leader Harish Rao criticized the Congress government
for failing to deliver on promises made in the Warangal Farmers’ Declaration.
Interacting with cotton farmers, he expressed concern over the drop in cotton
prices, which have fallen to Rs6,500 per quintal, far below the Rs7,500 support
price. Rao highlighted the exploitation by middlemen who buy at low rates and
resell to CCI centres for profit. He demanded urgent action, including the
establishment of more procurement centres and enforcement of a Rs500 bonus.
Comparing the current scenario to the previous BRS regime, Rao underscored the
need for better policies to support farmers and their livelihoods.
3. Pakistan’s Non-Textile
Exports Surge by 18% in Four Months
Exports of non-textile
products from Pakistan rose significantly by 17.66% to $4.73 billion during the
first four months of FY25, compared to $4.02 billion in the same period last
year. This growth was largely driven by value-added sectors such as engineering
goods, leather, footwear, and raw food items. Cement exports saw a 12.39%
increase, while petroleum products surged by an impressive 530.49%. However,
challenges persist in certain sectors, including sports goods, carpets, and
leather garments, which recorded declines. Notably, jewellery exports surged by
111.19%, reflecting strong demand. The report from Pakistan Bureau of
Statistics suggests a promising trajectory for non-textile exports, driven by
diversified product offerings.
4. Indian Textiles Sector
Poised for Big Growth
India’s textiles sector is
gearing up for a major transformation, with the government targeting $100
billion in exports by 2030, a significant jump from the current $35 billion.
This ambitious goal requires a 19% CAGR over the next six years, supported by Rs
200,000 crore in investments and the creation of 3 million jobs. While the past
decade saw stagnation due to the expiry of the EU trade treaty, COVID-19
disruptions, and high inventories, new initiatives like the Production Linked
Incentive (PLI) scheme and Free Trade Agreements (FTAs) with the EU and UK aim
to revive growth. With these measures in place, the sector is poised to regain
its global competitiveness and reach new heights
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