It is reported that the Indian Textile Enterprise Federation (ITF) will organize groups in Maharashtra and Telangana states to directly purchase high-grade cotton from local cotton companies to reduce cotton procurement costs.
ITF stated that raw materials account for 60-70% of spinning costs. Providing timely, high-quality, and low-price cotton to member units is of great help in reducing production costs.
It is understood that the ITF has a total of 400 home textile companies. The 35 home textile companies that form a group purchase consume 187,000 tons of cotton every year. This year, the ITF purchases 34,000 tons and plans to purchase 68,000 tons next year. It is concentrated from October to January of the following year. purchase. This year, the output of Maharashtra and Telangana is expected to increase by 10% and 20%, creating good conditions for acquisitions. The ITF said that through group purchasing, the profits of these textile companies increased by 2%. Indian textile companies purchase cotton in groups and their profit margins increase significantly
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