Financial Daily from THE HINDU group of publications
Thursday, Sep 25, 2003
Financial Daily from THE HINDU group of publications Thursday, Sep 25, 2003 |
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Industry & Economy
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Textiles SIMA meet to discuss arbitration G. Gurumurthy
Coimbatore , Sept. 24 THE 44th annual general meeting of the Southern India Mills Association (SIMA) being held here on Thursday, which will see a change of guard, is to sport special sessions that will sandwich the AGM proceedings. At least two key issues that confront the south-based cotton textile industries of late are the topics of tomorrow's discussions. SIMA has timed to host an exclusive session on `Cotton Arbitration', an issue on which the apex body has been spending considerable energy and time, would be discussed just prior to the AGM. The Indian Cotton Mills Federation Secretary-General, Mr D.K. Nair, and the Secretary of the South India Cotton Association (SICA), Mr K.N. Viswnathan, who did the spadework for evolving an Indian standard cotton contract format are to initiate the discussions. The SIMA's incoming Deputy Dhairman, Mr S.V. Arumugham, who took part in the Indian delegation that met the members of the Liverpool Cotton Association board in connection with the Indian cotton sector's appeal, would share his thoughts on the issue. The other topic chosen is the recently announced Government textile debt reconstruction package. While Mr B.K. Patodia, the past ICMF /SIMA chairman would lead the session, , the representatives from Deloitte Haskins and Sells, , which assisted the ICMF in providing the industry inputs for setting up the debt recast package, will explain the salient features of the TRF package. The occasion would also provide the SIMA members an opportunity to listen to a presentation on `road-map to achieve competitiveness' from the Crisil Infrastructure Advisory. The AGM will formally elect the current Deputy Chairman of the Association, Mr Vijay Venkataswamy, as the new Chairman. This year's SIMA meeting would have the Union Textile Secretary, Mr S.B. Mohapatra, as the special guest.
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