A 19-member delegation from Indian textile industry met the textiles minister, Smriti Zubin Irani and submitted a joint memorandum. “Based on the collective decision taken by 26 textile Associations across the value chain in the country, it was unanimously decided to insist the government to direct Cotton Corporation of India to procure 70 to 80 lakhs bales of cotton during peak season when the Indian cotton price rules lower than the international price,” M. Senthilkumar, chairman of The Southern India Mills’ Association (SIMA) said.
The Indian textile industry, which is largely dependent on cotton, has been facing acute crisis for some time now due to high volatility in cotton prices. Senthilkumar averred that the cotton price which was Rs.33,000 per candy of 355 kg reached almost Rs.50,000 per candy during July 2016 thus increasing the clean cotton price up to Rs.65 per kg while the yarn price increased only by Rs.20-30 per kg. “Under such scenario, the high volatility in cotton price has made several hundreds of spinning mills unviable,” SIMA Chairman added.
The delegation included representatives from SIMA, Northern India Textile Mills’ Association (NITMA), Rajasthan Textile Mills’ Association (RTMA), Tamil Nadu Spinning Mills Association (TASMA), South India Spinners’ Association (SISPA), Indian Texpreneurs Federation (ITF), Tirupur Exporters’ Association (TEA), Powerloom Development and Export Promotion Council (PDEXIL), Andhra Pradhesh Spinning Mills Association, All India Spinning Mills Association, Tamil Nadu Open End Spinning Mills Association, All Gujarat Spinners’ Association.
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