North Indian mills consider cutting production - sportstextiles: Lea SportsTextiles

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North Indian mills consider cutting production

10/08/2015
Textile spinning mills in the north of India are considering cutting back production and shutting down their mills once a week in opposition to “the current trend of operating mills 24x7”, the Northern India Textile Mills Association (NITMA) has said.

The proposal has come in the wake of domestic excess spinning capacity and poor demand for yarn from overseas markets leading to accumulation of yarn stocks and poor liquidity.

NITMA president, Sharad Jaipuria, said: “States like Madhya Pradesh, Gujarat, Maharashtra, Rajasthan, Andhra Pradesh and Telengana are attracting new investments in spinning due to a new textile policy, which is loaded with incentives and sops and thereby adding more than required capacity in the country.”


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