Index Investing News
Sunday, May 17, 2026
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Government considering quality control order for silk: Piyush Goyal

by Index Investing News
December 15, 2022
in Financial
Reading Time: 3 mins read
A A
2
Home Financial
Share on FacebookShare on Twitter


India is proposing to put in place quality standards for silk to check inflow of sub-standard imports, commerce and industry minister Piyush Goyal said Thursday.

Goyal said the government plans to have in place a quality control order (QCO) on silk.

He also announced setting up of a Textile Advisory Group (TAG) on manmade fibre to draw a roadmap for the sector and its value chain along with a memorandum of understanding with the textile industry for traceability, certification and branding of Kasturi cotton, which is the brand of India’s premium cotton.

“We did a silk sangamam to increase the production of silk,” Goyal said at the two-day textile conclave in Varanasi, which is coinciding with Kashi Tamil Sangamam. “Along with that, we are planning to bring a quality control order on it (silk), so that we can stop any substandard quality of silk that comes from outside and we can strengthen our silk from Banaras,” he said while replying to a question on imports of low-quality silk from China.
The government issues QCOs to ensure availability of quality products to consumers by stipulating conformity of the products to Indian standards and improve the quality standards of products manufactured under the Atmanirbhar Bharat Abhiyan. He also said that India achieved $33 billion of textile exports despite the global slowdown.

Certification, branding

To encourage the industry to work on the principle of self-regulation by owning complete responsibility of Traceability, Certification and Branding of Indian cotton, the textiles ministry will also contribute an equal share of Rs 15 crore along with trade and industry bodies over a period of three cotton seasons starting from 2022-23 to 2024-25.

An MoU between the Cotton Corporation of India and the Cotton Textiles Export Promotion Council (TEXPROCIL) will map the entire cotton value chain. It will provide traceability of cotton from the farm level, origin information that the cotton is of Indian origin, complete traceability through blockchain-based software platform, and integrate existing and available trace technologies like geotagging and DNA-based standards to provide end to end tracing solutions.

It seeks to provide registration and transaction certificate using QR code-based technology to validate ‘Kasturi Cotton India’ at each stage. Certification will be based on the test parameters protocol approved by the apex committee, officials said.

On branding, it would enhance international perception and valuation of Indian cotton, position ‘Kasturi Cotton India’ as a reliable quality product, both in the domestic and global markets thereby facilitating premium pricing and provide it a unique brand identity to boost exports opportunities.

Manmade fibre

As per an official, a TAG on manmade fibre is important as India has huge potential for it and the share of MMF in India needs to reach global levels.

“One advisory group for MMF and geotextiles is being made… like the textile advisory group for cotton textiles,” Goyal said.

In 2021, total fibre consumption in India was around 11,241 KT and the share of MMF is around 50%, much lower compared to global MMF share of 75%. Total fibre consumption in India is expected to reach 17,128 KT by 2035 and the share of MMF needs to increase considerably. The TAG for cotton was constituted in May this year. The group on MMF aims to understand the current challenges of the industry, address the bottlenecks, chalk out the future roadmap and ensure holistic development of MMF textiles value chain.



Source link

Tags: controlgovernmentGoyalOrderPiyushqualitySilk
ShareTweetShareShare
Previous Post

Home flipping profits drop at fastest pace in over a decade

Next Post

Billionaire Zara founder buys Seattle skyscraper for $323M

Related Posts

TDV: Technology Dashboard For May (BATS:TDV)

TDV: Technology Dashboard For May (BATS:TDV)

by Index Investing News
May 15, 2026
0

This article was written byFollowFred Piard, PhD. is a quantitative analyst and IT professional with over 30 years of experience...

Microsoft Israel chief leaves amid ethical controversy

Microsoft Israel chief leaves amid ethical controversy

by Index Investing News
May 11, 2026
0

Last week Microsoft Israel, the local marketing and sales office of the US software giant, announced the departure of...

Dabur India net up 16% at ₹362 crore in March quarter, revenue up 7.3%

Dabur India net up 16% at ₹362 crore in March quarter, revenue up 7.3%

by Index Investing News
May 7, 2026
0

Mohit Malhotra, Global CEO, Dabur India Dabur India posted a consolidated net profit of ₹362 crore in the March quarter,...

A .5 Billion Contract Isn’t Enough Without Profits

A $7.5 Billion Contract Isn’t Enough Without Profits

by Index Investing News
May 3, 2026
0

Quick Read Jim Cramer said no to Applied Digital (APLD) despite its $7.5 billion CoreWeave contract, arguing the company is...

US stocks today: Fed chief nominee Warsh clears key confirmation hurdle in Senate

US stocks today: Fed chief nominee Warsh clears key confirmation hurdle in Senate

by Index Investing News
April 29, 2026
0

Kevin Warsh, U.S. President Donald Trump's pick to lead the Federal Reserve, cleared a key procedural hurdle on Wednesday, opening...

Next Post
Billionaire Zara founder buys Seattle skyscraper for 3M

Billionaire Zara founder buys Seattle skyscraper for $323M

Misusing Chesterton’s Fence – Econlib

Misusing Chesterton's Fence - Econlib

RECOMMENDED

‘Scott Pilgrim Takes Off’ Is a Winning Remix With Surprises Up Its Sleeve

‘Scott Pilgrim Takes Off’ Is a Winning Remix With Surprises Up Its Sleeve

December 28, 2023
Four fixes to bolster Biden’s climate bill

Four fixes to bolster Biden’s climate bill

August 18, 2023
High 3 Korean Crypto to Purchase After Lazarus Group Steals .5B Ethereum (ETH)

High 3 Korean Crypto to Purchase After Lazarus Group Steals $1.5B Ethereum (ETH)

February 22, 2025
JOANN Inc. (JOAN) Q3 2023 Earnings Call Transcript

JOANN Inc. (JOAN) Q3 2023 Earnings Call Transcript

December 13, 2022
On-Chain Clues Recommend Bitcoin Bounce May Be a False Sign—Right here’s What to Know

On-Chain Clues Recommend Bitcoin Bounce May Be a False Sign—Right here’s What to Know

April 15, 2025
Stocks moving big midday: PLTR, NVDA, CAR

Stocks moving big midday: PLTR, NVDA, CAR

February 14, 2023
‘Adopt an axolotl’ campaign in Mexico aims to save iconic species

‘Adopt an axolotl’ campaign in Mexico aims to save iconic species

November 25, 2023
Houston Workplace Figures Lag Behind Nationwide Metrics

Houston Workplace Figures Lag Behind Nationwide Metrics

January 22, 2025
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In