ITF creates consortium of Telangana, Maharashtra and Karnataka
Indian Texpreneurs Federation (ITF) has created a consortium of 3 states – Telangana, Maharashtra and Karnataka – in ‘partnership’ with 25 top ginners of these states. To create more confidence and better understanding between all the members of this consortium, representatives of these ginning firms visited spinning units of
ITF’ members. ITF cotton team purchased 2 lakh bales in this cotton year from these selective ginners and in the upcoming cotton year, their target is to buy 4 lakh bales.
With a requirement for 1 crore cotton bales, Tamil Nadu needs stronger partnership with the cotton growing states, so this initiative of ITF is really important. This initiative will benefit both the spinning mills as well as the ginners. The mills will get consistent quality and better pricing by strong partnership with the ginners. It will become possible for them to have periodic discussions on the timing and quantum of purchase. While ginners can reach the top performing spinning mills on a single platform, they will have guarantee of timely payments. They will also be able to improve their process and quality with constant feedback from the spinning mills. ITF, based in Coimbatore (India), is a group of 400 mills, with a combined annual turnover of over Rs. 40,000 crore. Coimbatore is one of the leading textile manufacturing hubs of India. ITF cotton mills include 35 mills which consume 11 lakh cotton bales per year. Prabhu Dhamodharan, Convenor, ITF explained why they chose Telangana and Maharashtra, “We have logistic advantages; both states are increasing cotton production, besides the consumer-friendly attitude of the ginners of these states also matter. In the last one year, we were able to work as partners in these 3 states and build trust and transparency.”
ITF Cotton Team