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All units in TS Textile Park shut, 1000 lose jobs

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1) The worst fears of weavers employed at various units of Sircilla Textile Park have come true on Sunday. As hinted earlier, the owners of these units, faced with heavy financial crunch, shut shop.

2) Ironically, the decision to close down their units came on a day when the workers should be celebrating International Workers' Day, leaving around 1,500 employees to their fate.

3) With closure of all the units, which at least for now looks indefinite, the Sircilla Textile Park wore a deserted look with the desolate employees unsure where their next meal would come from.

Power cuts, Gurugram's ancillary units on brink

1) Struggling with power cuts for almost 15 days now, over 100 ancillary units have threatened to shut down operations, citing inability to bear the cost of diesel generators (DG sets).

2) The units, which claim to be facing power cuts for as long as 12 hours, have sought Power Minister Ranjit Singh's intervention into the matter.

India-UAE trade pact comes into force; textiles, agriculture, others to get duty-free access

1) The free trade agreement between India and the UAE has come into effect on Sunday, under which domestic exporters in various sectors like textiles, agriculture, dry fruits, gems and jewellery will get duty-free access to the UAE market.

Yarn price

Hello friends, The current increase in yarn price may create a difficult situation for all industries and retail sector.

Don't worry, In india cotton reached its maximum price. As far as now it reached 1lakh rupees per candy (356kgs) in india. On the other hand Imported cotton price is 1.07 lakh rupees and as we know there is no import duty for cotton, already our gvt made it free.

Our domestic cotton price reached equal to international Cotton price.

So, as per my prediction there will not be any further increase in cotton price . And the cotton that has been hoarded will come out now. so that price may have chance decrease slightly.

asked to clarify why it has not purchased cotton from farmers yet

1) In an important order, the Aurangabad bench of the Bombay High Court has asked all cotton farmers to put forth their grievances regarding the lapses on part of the Maharashtra government and other relevant authorities. The HC has also ordered the government to file a detailed affidavit regarding its policy for purchasing cotton from farmers and why it did not buy cotton from these farmers via offline mode.

2) The HC has also ordered the government to purchase cotton, as much as possible, from the farmers, even offline, before June 12.

Corp's MSP purchases to top record 1-cr bales

1) State-run Cotton Corporation of India (CCI), which has made a record procurement of about 98 lakh bales so far, will continue to purchase the fibre crop at the minimum support price (MSP) till September, the new Chairman and Managing Director, PK Agarwal, has said.

2) 'We will be there in the market up to September 30. No farmer will be put into trouble,' Agarwal, who took over as CMD of CCI on June 1, said. CCI expects to procure another 5-7 lakh bales and total purchases exceeding 1 crore bales in the 2019-20 season.

acreage crosses 7-year high in Punjab

1) The area under cotton in Punjab, which is the state's second biggest kharif (summer sown) crop, has touched a seven-year high this season. According to the Punjab agriculture and farmers welfare department, cotton acreage stood at about 4.80 lakh hectares till Monday, surpassing the seven-year high of 4.45 lakh hectares in 2013-14.

2) Data compiled by the state agriculture department suggests that cotton sowing was recorded at over 4,80,751 hectares in Punjab till Monday evening, up from 3.23 lakh hectares in 2019-20 with a growth of over 22%.

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