Basic HTML Version
106
|
The Textile Magazine
JUNE 2012
campaign keeping in mind our latest col-
lection. This festive season we wanted to
give our customers something that they
have been looking forward to look like
someone who actually they are and truly
believe in themselves. We’re positive that
people across the country will relate to
the message and that the new collection
will receive a positive response”.
Sangam Suitings launched its latest
collection on poly viscose and poly wool
keeping that will have wrinkle-free and
anti-microbial qualities ingrained into the
product offering. “During the fiscal year,
Sangam Suitings plans to expand its col-
lection and strategic alliances. We plan to
roll out stain release and non-iron fabric
collection very soon”, he added.
Sangam India’s suiting products are
marketed under the Sangam brand. Over
the years, SIL has developed an extensive
distribution network across India and
abroad. In the suiting business, nearly
30-40 per cent of its revenues is derived
from export markets, the key among then
being South Africa, Kenya, the Middle
East, Europe and Latin America.
At Sangam, suitings form part of its
finished/woven fabric business. Sangam’s
annual synthetic woven fabrics produc-
tion currently stands at 20.5 million
metres. The woven fabrics business ac-
counts for nearly 18 per cent of the total
revenue.
Sangam’s leadership in woven fab-
rics is on account of its colours, blends,
textures and finishes. The company
manufactures woven fabrics which are
mainly used for suits and trousers. The
company strength to offer a vast product
range stems from its ability to blend vari-
ous yarns to ensure the right texture, style
and, above all, the right value for money
products to its customers.
w
CITI hails Ministry move
for debt restructuring
The Confederation of Indian
Textile Industry (CITI) has thanked
Mr. Anand Sharma, Minister for
Commerce, Industry & Textiles, for
getting the clearance of the Finance
Minister for the debt restructuring
proposals for the textiles and cloth-
ing industry.
In a press release, Mr. S.V.
Arumugam, CITI Chairman, has
stated that at a recent meeting with
the Finance Minister, Mr. Sharma
obtained clearance for restructuring
of debts worth Rs. 35,000 crores
to the industry in view of the huge
losses suffered and the crisis being
faced by the industry.
Mr. Sharma has also confirmed
that the Finance Ministry would
recommend to RBI a special
dispensation in the NPA norms to
avoid asset reclassification in allow-
ing a two-year moratorium on term
loans to the textile industry. CITI’s
proposal for converting eroded
working capital into working capi-
tal term loans (WCTLs) repayable
in three-five years has also been
taken up by the Textile Minister.
The Finance Ministry would be rec-
ommending this proposal to RBI.
Mr. Arumugam has further stated
that it was the persistent efforts of
Mr. Sharma and the officials of the
Textile Ministry that resulted in
clearance of these proposals and
that RBI would issue necessary
instructions to the banks as early as
possible.
w
Mr. S.V. Arumugam, CITI Chairman,
brand launch