A brief outlook on The Indian textile industry
At a broader level Indian Textile Industry can be divided into two categories: Organized and Unorganized.
Despite India being an emerging economy, the Indian Textile Industry is largely unorganized and still relies largely on traditional means in cloth manufacturing and is also highly labor intensive in nature. The clothes are produced with the help of hands via weaving and spinning methods.
The remaining half of the industry is very much organized with high importance endowed on capital intensive production processes sourcing-force.com. The sector depends on sophisticated mills by way of which technologically superior machines are utilized for mass production of textile products.
Further classification of Indian Textile Industry
• Textile industry employing fiber derived from man made means or natural cotton.
• Yarn industry using fiber or filament, similar to the man made variety
• Textile industry centered on production of wool, its offshoots and woolen products.
• Textile industry based on production and processing of Jute.
• Textile industry centered on mass production of natural silk and final products from silk
• Handloom Industry
• Handicrafts industry which is primarily unorganized in nature
The textile industry employing fiber derived from man made means or natural cotton.
This sector is looked upon as the largest producer of textile products. In terms of employment opportunities, the sector employs maximum number of people in the entire industry which is said to be around a mind-boggling one million workers. According to the latest estimates by Ministry of Textiles, the total number of mills in this particular sector stood at 1818 in number. The total capacity of all these mills total to
* 35.37 million spindles and * 0.45 million rotors In between April -December 2009, the production of cloth made from man-made fibre accelerated by 21.3 percent.
Spun Yarn industry can further be segregated into two sub-sectors:-
• Cotton Yarn Manufacturing industry: The production is directly related to the production of cotton on year-on-year basis, whose production in turn largely depends on the vagaries of nature. Therefore it is widely observed that the rate of production in this sector, more often than not fluctuates.
• Non cotton yarn producing industry
The industry is growing at an unprecedented speed for the rate of production in this sector has accelerated on a consistent basis. The period between 1999 and 2005, the capacity of this sector increased between 80 and 93 percent.
Organized sector is going through a rough patch and the reason cited being the tweaking of the structural set-up. Of late the weaving sector has been separated from the spinning sector causing the rise of powerlooms of decentralized nature. In the recent years the production capacity of the organized sector plummeted by 0.54 lakh between March 2000 and January 2007.
Nonetheless, the organized sector seems to be fairing better than unorganized one with a yearly growth rate of almost 5.4 percent.
Yarn industry utilizing fiber or filament can be divided into two divisions:-
• Industry type consisting production of cellulosic fibers or filaments
• Industry type consisting production of non-cellulosic fibers or filaments
Textile industry centered on production of wool, its offshoots and woolen products.
• Its export oriented
• Production base is mainly located in the rural areas
• Both organized as well as non-organized units dominate this sector.
India's contributes nearly 1.8 percent of total production of wool in the world. This sector is known for its high employment generation capacity. By 2006, twenty seven lakh workers were working in this sector. At a broader level, the total raw wool production in India can be segregated into three major grades:-
• Carpet Grade comprising 85% of the total raw wool production
• Coarse Grade comprising 10% of the total raw wool production
• Apparel Grade comprising 5% of the total raw wool production
Nonetheless, it has been found that the demand for raw wool in India is more than the output; hence large part of the local demand is met through import of raw wool. Wool is said to be the only natural fibre in which the country has not yet achieved self-sufficiency.
The sector also attracts foreign exchange earning from export of woolen products.
At present there are 958 woolen units in the country, the majority of which fall in the small scale sector
Some of the exclusive items used in the production of wool fiber in India include: Pasmina and Angora.
Textile industry based on the production and processing of Jute.
Significant part of Eastern India is into production and processing of Jute, West Bengal in particular. Nearly 4 million farm families depend on it. The industry provides direct employment opportunities to 2.6 lakh industrial workers and another 1.4 lakh people in the allied sectors. In the world market, the contribution of this industry is noteworthy. The export earnings from the sector stand at Rs.1200 crore. In export of final jute products, India bags second position in the entire world. Besides, revenue also comes from government and private orders for packaging purposes.
The special features of Jute:-
• Natural Fiber
• Biodegradable product
• The fibers can be renewed after use
• Eco-friendly in nature
In India, Raw Jute is manufactured in the following states:-
• West Bengal
• Assam
• Bihar
• Andhra Pradesh
• Meghalaya
• Orissa
• Tripura
The total production of raw jute in India is almost 90 to 100 lakh bales. The industry gets good support from the government. The crucial support comes in the form of Minimum Support Price. The support price increased from Rs.910 to Rs.1000
Textile industry centered on mass production of natural silk and final products from silk
India is leading producer of silk in the world, second largest producer to be precise. Of the four varieties produced, Mulberry accounts for 88.7 percent, Eri account for 8.4 percent, Tasar 3.8 and Muga silk 0.6 percent. Its contribution to the total world production of silk is about 18 percent.
The rearing and breeding of silk worms as well as the production of raw silk are known as Sericulture. The industry is considered as one of the top cottage industries in India. Over fifty thousand villagers are into silk production. One of the most remarkable aspects of this industry is its labor -intensiveness.
The different people involved in Sericulture include:-
• The workers who produce silkworm seeds
• Farmers who rear the silkworms
• Workers who are into reeling
• Workers who are into twisting the silk
• Workers who weave the silk
• Workers who spin of silk waste
• Dealers of Silk
The significance of Silk Industry can be outlined as follows:-
• Fewer Investments required.
• Return on investment quite high
• Nearly 6 million people employed in this industry.
In 2004-05, the amount of silk produced stood at sixteen thousand and five hundred metric tones which scaled up to seventeen thousand and three hundred five metric tones during 2005-06. The foreign exchange earned by the industry in 2005-06 was Rs.3158.16 crore.
Smart Steps to Cancel a Timeshare Contract
A timeshare is said to be a costly thing although it may give a great vacation experience to the owner. And with the economic climate that we are having today where almost everyone is cost-cutting, it may be wiser for the owner to get out from his/her timeshare contract. With this, he can opt for other cheaper forms of vacationing or use the money for other important matters. However, if the owner who had just bought a timeshare decides to get rid of such property, he may do so without forfeiting his/her initial payment by availing through a rescission period.
Right of Rescission
In US, almost all states have a rule of rescission. This is the time period in which the buyer can change his mind and cancel the sales contract without forfeiting any money. But be warned that the rescission period varies state by state.
Know Your Contract
First, check your contract for a clause that says something about a rescission period. Everything you need to know is in the contract. When you want to submit a rescission request, you can look for the specific details concerning the deadline in the contract. Then, it's time to immediately make note of your rescission deadline and the instructions on how to cancel your contract successfully.
Write a Cancellation Letter
Once you have found the needed information from your contract, make a certified letter stipulating that you want to cancel your timeshare agreement. Make it short and take note that you don't have to explain anything. The important thing is they know that you are exercising your right to rescind your contract by the terms of agreement. Include your name, address, contract number and date of purchase in your cancellation letter. Once the deposit was taken, you must request its return. In some cases, your company will have a form available to simplify the process and you can use that instead.
Send Your Rescission Letter before the Deadline
More importantly, you must send your rescission letter before the deadline to cancel your timeshare contract. With a certified letter, you can demand a signed receipt, which means that they have to respond. Also, make copies of all documentation. Moreover, make sure that it's postmarked before the deadline so that you have proof you mailed it on time if ever there are conflicts later on.
Time to Follow-up
On the other hand, if you haven't heard back from the company in 30 days, it's time to follow up and inquire about the delay so that you'll make sure that you can avail of the given rescission period.
Owning a timeshare these days is becoming unattractive. As a matter of fact, there are already thousands of current owners who are trying to get rid of their timeshares. Some even hire a timeshare transfer company such as the Transfer smart just to get rid of such property. If you're one of the owners who had just purchased such property and suddenly realized you need to get rid of it
smart-contract.com, you may avail its rescission period and assuming you followed their procedures cited above exactly, then, you will have no problem getting out of your timeshare contract.
Wind Turbine Purchase Strategies
This is a great time to be considering a wind turbines purchase. All the stars are lined up to provide you with a variety of choices and a huge government incentive to boot.
Below are three questions that will drive you to the answers you need about how to decide how to purchase a windmill for your home:
1. How well do you understand the wind patterns on your property?
2. Are there any local rules that will modify how and what kind of turbine you can put up?
3. Do you understand the key differences in the optional types of windmills?
The average wind speed on your property or on your roof is a very critical piece of energy. It is relatively easy to come about this information at a high level at either U.S. government websites or at Weather Underground.com. However, this is not really the information you will need to figure out how to purchase a wind turbine.
Instead, you need to know the wind speed and predominant direction on your land and on your roof. The best way to do this is with an anemometer. This is just a small device that happens to look just like a miniature wind turbine.
You can mount the anemometer at several potential spots you might like to install your windmill and record the data for a few weeks. If you have 9 mph average wind, then your project is a total no-brainer. If it is less than 9 mph, you will have to look for one of the turbines on the market that have a cut-in speed at less than that.
Then, you need to check your local government and see if there are any rules that might limit what kind of turbine you can put up or where you want to install it. In most cases, there is not a total restriction on wind turbines of any kind but rather restrictions on where you can mount them.
Now, you have enough information to start thinking about what type of wind turbine you can purchase
acheteurs.tv. There are 2 basic types - horizontal and vertical-axis. The horizontals are very efficient but have some distinctive downsides like shadow flicker and the tendency to be a hazard to migrating bird populations.
Vertical wind turbines are a lot more acceptable to the neighbors in an urban setting and they tend to operate more efficiently in the presence of chaotic winds found on roofs.
Lastly, it is wise to look at a wind turbines purchase much as you would any other home project. Study carefully what want to get done, see if there are any roadblocks to project completion before you buy anything, and then drill down to the level of available options.
Sources of Business Finance
Sources of business finance can be studied under the following heads:
(1) Short Term Finance:
Short-term finance is needed to fulfill the current needs of business. The current needs may include payment of taxes, salaries or wages, repair expenses, payment to creditor etc. The need for short term finance arises because sales revenues and purchase payments are not perfectly same at all the time. Sometimes sales can be low as compared to purchases. Further sales may be on credit while purchases are on cash. So short term finance is needed to match these disequilibrium.
Sources of short term finance are as follows:
(i) Bank Overdraft: Bank overdraft is very widely used source of business finance. Under this client can draw certain sum of money over and above his original account balance. Thus it is easier for the businessman to meet short term unexpected expenses.
(ii) Bill Discounting: Bills of exchange can be discounted at the banks. This provides cash to the holder of the bill which can be used to finance immediate needs.
(iii) Advances from Customers: Advances are primarily demanded and received for the confirmation of orders However, these are also used as source of financing the operations necessary to execute the job order.
(iv) Installment Purchases: Purchasing on installment gives more time to make payments. The deferred payments are used as a source of financing small expenses which are to be paid immediately.
(v) Bill of Lading: Bill of lading and other export and import documents are used as a guarantee to take loan from banks and that loan amount can be used as finance for a short time period.
(vi) Financial Institutions: Different financial institutions also help businessmen to get out of financial difficulties by providing short-term loans. Certain co-operative societies can arrange short term financial assistance for businessmen.
(vii) Trade Credit: It is the usual practice of the businessmen to buy raw material, store and spares on credit. Such transactions result in increasing accounts payable of the business which are to be paid after a certain time period. Goods are sold on cash and payment is made after 30, 60, or 90 days. This allows some freedom to businessmen in meeting financial difficulties.
(2) Medium Term Finance:
This finance is required to meet the medium term (1-5 years) requirements of the business. Such finances are basically required for the balancing, modernization and replacement of machinery and plant. These are also needed for re-engineering of the organization. They aid the management in completing medium term capital projects within planned time. Following are the sources of medium term finance:
(i) Commercial Banks: Commercial banks are the major source of medium term finance. They provide loans for different time-period against appropriate securities. At the termination of terms the loan can be re-negotiated, if required.
(ii) Hire Purchase: Hire purchase means buying on installments. It allows the business house to have the required goods with payments to be made in future in agreed installment. Needless to say that some interest is always charged on outstanding amount.
(iii) Financial Institutions: Several financial institutions such as SME Bank, Industrial Development Bank, etc., also provide medium and long-term finances. Besides providing finance they also provide technical and managerial assistance on different matters.
(iv) Debentures and TFCs: Debentures and TFCs (Terms Finance Certificates) are also used as a source of medium term finances. Debentures is an acknowledgement of loan from the company. It can be of any duration as agreed among the parties. The debenture holder enjoys return at a fixed rate of interest. Under Islamic mode of financing debentures has been replaced by TFCs.
(v) Insurance Companies: Insurance companies have a large pool of funds contributed by their policy holders. Insurance companies grant loans and make investments out of this pool. Such loans are the source of medium term financing for various businesses.
(3) Long Term Finance:
Long term finances are those that are required on permanent basis or for more than five years tenure. They are basically desired to meet structural changes in business or for heavy modernization expenses. These are also needed to initiate a new business plan or for a long term developmental projects. Following are its sources:
(i) Equity Shares: This method is most widely used all over the world to raise long term finance. Equity shares are subscribed by public to generate the capital base of a large scale business. The equity share holders shares the profit and loss of the business. This method is safe and secured, in a sense that amount once received is only paid back at the time of wounding up of the company.
(ii) Retained Earnings: Retained earnings are the reserves which are generated from the excess profits. In times of need they can be used to finance the business project. This is also called ploughing back of profits.
(iii) Leasing: Leasing is also a source of long term finance. With the help of leasing, new equipment can be acquired without any heavy outflow of cash.
(iv) Financial Institutions: Different financial institutions such as former PICIC also provide long term loans to business houses.
(v) Debentures: Debentures and Participation Term Certificates are also used as a source of long term financing.
Conclusion:
These are various sources of finance. In fact there is no hard and fast rule to differentiate among short and medium term sources or medium and long term sources
vortex.network. A source for example commercial bank can provide both a short term or a long term loan according to the needs of client. However, all these sources are frequently used in the modern business world for raising finances.
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