In the next five years, India's first privately-owned textile park will take shape on the outskirts of the city here at a cost of about Rs 1,200 crore.
Being set up by Pradip Overseas Ltd, this park will have a cloth production capacity of five lakh meters per day and will cater to large markets in United States and Europe.
The proposed park christined as `Green Field Textile Park' will be set up on 115 hectares of land on the Bavala-Bagodara highway about 50 km from Ahmedabad.
"This will be an integrated textile park where all the activities related to home textile starting from spinning, weaving, processing, stitching, packaging and dispatching will take place from one location," said J S Negi, director of the company, while addressing mediapersons here today.
The foundation stone of this project will be laid by Gujarat Chief Minister Narendra Modi tomorrow.
"The textile park will be developed in a phased manner and will be completed in the next five years and having a production capacity of five lakh meters per day," said Negi.
The park will be completely owned by Pradip, he added.
"The cloth produced here will be largely exported to the big markets in United States and Europe," said the director of the company which is a leading exporter of household linens like flat sheets, duvet covers, fitted sheets, pillowcases, curtains and other items.
Once fully developed, the park will generate employment avenues for about 20,000 skilled and unskilled workmen, Negi added.
Indo-Australia committed to resolve agri-trade issues
Publish Date : 3/3/2007 7:21:00 AM
The agri-trade has become a very contentious issue in the World Trade Organisation (WTO), but India and Australia have agreed to resolve issues coming in the way of trade in agricultural goods by setting up a mechanism.
RBI to absorb more liquidity to contain inflation
Publish Date : 3/3/2007 7:11:00 AM
In a bid to further contain inflation, Reserve Bank of India today announced a modified market stabilisation scheme (MSS) and liquidity adjustment facility (LAF) to suck out Rs 11,500 crore from the system.
Gold and Silver prices turn distinctly weak
Publish Date : 3/3/2007 7:03:00 AM
Both the precious metals today turned distinctly weak on the bullion market as silver plunged by Rs 570 and gold by Rs 155 on heavy stockists offerings tiggered by sharp fall in the global markets.
Further fall in gold and silver prices
Publish Date : 3/2/2007 7:06:00 AM
Both the precious metals continued to decline on the bullion market here today on sustained offering from stockists in view of fall in the international markets.
Rupee ends marginally up at 44.26/27 a dollar
Publish Date : 3/2/2007 7:03:00 AM
The rupee today ended marginally higher at Rs 44.26/27 a dollar, supported by a smart recovery on equity markets coupled with fresh exporters' dollar sales.
Hyundai domestic sales up 74 pc in Feb
Publish Date : 3/2/2007 7:01:00 AM
Hyundai Motor India today reported a 74 per cent increase in its domestic vehicle sales during February at 15,459 units compared to the same month last year.
Hutchison Telecom files caveat fearing legal move by Essar
Publish Date : 3/2/2007 6:59:00 AM
Hong Kong-based Hutchison Telecom has filed a caveat before the Bombay High Court to ensure that its plea is heard in case Essar moves the court, challenging the the foreign partner's decision to sell stake to Vodafone.
Skoda slashes car prices up to Rs 24,000
Publish Date : 3/2/2007 6:56:00 AM
As car makers Maruti and Hyundai announced a hike in prices, luxury car maker Skoda Auto today slashed prices across all models by up to Rs 24,000 citing reduction in customs duty on imported car parts in the Budget.
Bond prices continue to decline
Publish Date : 3/1/2007 8:30:00 AM
Government bond prices continued to decline on persistent selling while call rates eased in view of ample liqudity in the system.
India should be more conscious of global developments: RBI
Publish Date : 3/1/2007 8:19:00 AM
The Reserve Bank of India today said the steep fall in Indian stock markets was a contagious effect of plunge in overseas bourses and the country should have strong market and regulatory mechanism to avoid disruption in markets.
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