🇮🇳 Freedom Sale 🇮🇳 -

Now get all our subscription packages at unbelievable prices. Subscribe here

Advertisement

Tirupur exporters’ association asks Centre to ban cotton export

Raja M Shanmugham, president of the exporters’ association, said the unprecedented price hike in cotton has also doubled the prices of chemicals and other accessories.

cotton export ban tirupur textile associattionAccording to the Tirupur Exporters’ Association, the price of one-kilogram yarn was Rs 200 about 18 months back. (Express File/Abhishek Saha)

After two days’ strike, members of the Tirupur Exporter’s Association were in Delhi on Tuesday to demand the Centre to ban cotton export.

Following the unprecedented surge in cotton prices and a subsequent hike in yarn prices that has severely affected their businesses, the Tirupur Exporter’s Association decided to escalate the issue at the highest level.

The association members met union minister of commerce and industry Piyush Goyal to raise key demands of a temporary ban on cotton exports, temporary ban on yarn exports or calibration formula to be invoked to ensure required supply of yarn to the domestic industries, removing Cotton from the Commodity Trading list and listing cotton under the Essential Commodities Act.

According to the Tirupur Exporters’ Association, the price of one-kilogram yarn was Rs 200 about 18 months back. “For the same amount, we can only buy 400 grams of yarn now. This apparently reveals how much knitwear exporting MSMEs are now undergoing financial stress on the operational front… It is to be noted that the MSMEs have not got the wherewithal to buy the cotton yarn and finally lead into the exigent situation,” says a memorandum submitted by the association before Upendra Prasad Singh, Textiles Secretary.

Subscriber Only Stories
Premium
Premium
Premium
Premium

Raja M Shanmugham, president of the exporters’ association, said the unprecedented price hike in cotton has also doubled the prices of chemicals and other accessories. “…It has become really difficult for the knitwear garment industry and we need immediate help from the union government,” Shanmugham said.

Meanwhile, pointing to Chief Minister M K Stalin writing to the Centre on Monday to take steps to rein in cotton and yarn prices, the state government on Tuesday said Lok Sabha MP Kanimozhi would lead a delegation of MPs and meet union Finance Minister Nirmala Sitharaman and Union Textiles Minister Piyush Goyal in Delhi on May 18.

With PTI inputs

📣 Join our Telegram channel (The Indian Express) for the latest news and updates

For all the latest Chennai News, download Indian Express App.

  • The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.
First published on: 17-05-2022 at 10:43:05 pm
Home
ePaper
Next Story
X