Dip in yarn exports should be seen as a good sign for India: Piyush Goyal

RAJKOT:DecreasingyarnexportsfromIndiashouldbe seen as a good sign for the country as that would make raw materials available for processing them into textiles and eventually, into garments creating jobs and opportunities in thesector,saidUnionTextilesMinisterPiyushGoyal.

“The Indian demand for yarn and for finished products are growing significantly, both in the domestic and export markets. If producers get better value in the Indian market,theywouldprefertoselltheyarninIndia.Itshould be processed right up to the garment and that value addition is good for India. Whenever possible, we encourage that more finished goods get exported from India. There is value addition that will create jobs, which will give opportunities to our entrepreneurs, to our startups. If at all the yarn export reduces, it’s a good sign,” said Goyal, adding, “The rise in readymade garments and finished value-added products is really the strength of Indiathatwewanttoencash.”

Paradip Port Authority Chairman lauds team at Awards Nite -2023

PARADIP: Chairman of Paradip Port Authority (PPA) PL Haranadh hailed the efforts of port users and his team in Paradip for delivering 135.36 MMT cargo in 2022-23. He was speaking at the Awards Nite -2023 at the Biju Convention CentreofPPAheldrecently.

ParadipPorthasrecordedthehighest-evergrowthof19.02 MMT traffic ie. 16.56 per cent over the last fiscals’ traffic among all the ports in the country. Paradip Port has contributed 19.2 million metric tonne i.e. 25.6 per cent out of the total growth in cargo handling achieved by all the major portsduringthefinancialyear2022-23.

During the last financial year, the port achieved the highest ever coastal shipping traffic of 58.42 million metric tonne, with a growth of 16.22 million metric tonne i.e. 38 per cent over the previous year. The thermal coal coastal shippinghasgrownby14millionmetrictonnei.e.50%overthe previous year’s cargo handling. Haranadh congratulated the entireteamofexportersandimporters,patrons,portofficers, staff unions, PPP Operators, stevedores, and shipping agents whosecombinedeffortresultedintheachievement.