The government will ensure all help and protect the domestic textile industry to face challenges arising out of the Multi Fibre Agreement (MFA) of the World Trade Organisation (WTO), which will come into effect from 2005, according to union textiles minister Kashiram Rana. The Centre was determined to increase the assistance to the handloom and handicraft sectors to make them more competitive as challenges to these sectors were expected to increase after 2005 with the opening up of textile sector for global competition, Rana told PTI in Baroda on Monday. ``Time available till then will have to be utilised for protecting and preserving our textile and handloom sectors which offer employment to millions of people in the country,'' the minister said. MFA is one of the accords under WTO.

HK gold ends at 20-year low

Spot gold ended at fresh 20 year lows on Tuesday as London traders, returning from a long holiday weekend, sold on bearishness overcentral bank sales. Spot gold closed at $266.00/50 an ounce, down $4 from the New York close on Friday. London and New York markets were closed on Monday for public holidays. Selling by Australian and Japanese investors earlier had pushed gold slightly lower from the opening of $269.10/60, but a flurry of selling late in the day, accelerated by stop-loss selling, knocked gold sharply lower. "There was stop-loss selling in Europe below $267.50, below $267 and lower.

Garment machinery fair

Maccessory'99, a exhibition of garment machinery and of accessories used in the garment industry will be held for two days from June 22, 1999 for the first time at Nehru Centre, in South Mumbai, according to Premal Udani president of the Clothing Manufacturers Association of India (CMAI). Udani stated that leading garment machinery manufacturers have already taken up prime space. Manufacturers of accessories will lay out their latest products for view on the venue. Imported and indigenous sewing machines formanufacture of garment will be on display. These cover the entire garment industry including laying, spreading and cutting to sewing, fusing and finishing. Giving an overall view of the exhibition, Udani further stated that manufacturers will showcase industrial laundry machines, multi-head embroidery machines, scalloping machines, cuff and collar attaching machines, pocket making and attaching machines as well as those connected with wet processing of garments.

ISI mark for pesticides

In a step towards promoting the use of eco-friendly and biodegradable pesticides, the first ISI mark for neem-based pesticides has been granted to the Mukumbi Manufacturing Company, Belgaum, Karnataka. The product is covered under IS 14300: 1995 Indian standard specification for neem-based EC containing azadirachtin. This pesticide is a natural plant product extracted from neem seeds/kernels which contain azadirachtin for insect repellent activity, a release by the Bureau of Indian Standards said on Tuesday. The useof neem-based pesticides is commercially viable in India because of the abundance of neem trees. The pesticide is extremely effective for agricultural crops like cotton, paddy and pulses. The neem seeds/kernels contain triterpenes which is known to have active derivatives including azadirachtin. Unlike the chemical pesticides, the neem-based pesticide does not leave behind any residue.

Siliguri tea auction centre blockade

The members of Jalpaiguri Abakshya Protirodh Samannaya committee comprising 20 trade unions and North Bengal Chamber of Commerce and Industries have decided to put up blockade of tea trucks for Siliguri tea auction centre from next month to press the demand for opening up a tea auction centre in Jalpaiguri. Jalpaiguri accounts almost 140 million kg of tea of the total 180 million kg tea produced in north Bengal. The Protirodh committee members have decided to block trucks carrying tea to Siliguri auction centre at three points -- Assam More, Odlabari and Belakoba from July 7.Committee convener Samar Gupta said that they had earlier conveyed to the authorities concerned including those in Calcutta of their agitational programme.