Coimbatore: Chairman of the Constitutional Court Minister Stalin has written to the Textile Minister Union Piyush Goyal to take steps to reduce yarn prices.
In a letter written on Tuesday, Stalin noted that an unprecedented increase in threads and cotton prices had hit the textile sector in Tamil Nadu.
He asked Pyush Goyal to delete 11% import duties imposed on cotton to prevent further cotton price increases, change the commercial terms and conditions prescribed by the Cotton Corporation of India for e-cotton auction by reducing the minimum lot size of up to 500 bal, provide preferences For yarn producers in cotton procurement rather than traders.
He also looked for the center to expand 5% interest subvention to a spinning plant towards cotton procurement during the December peak season until March.
However, he has made these three requests in a letter written to Piyush Goyal in November last year, said Stalin Textile Players viewed that there was no concrete step taken by the center to control prices.
Stalin told Piyush Goyal that in the absence of steps near the middle, they stopped production for two days on January 17 and 18.
Furthermore, they had planned a hunger strike on January 21.
The stalk word per cotton candy which Rs 39,000 in December 2020 rose to Rs 75,000 in December 2021, accounting for a 48% increase.
“If this situation does not rule, a large number of Powerloom units, clothing and home textiles may be can’t be taken into account in large-scale closures and unemployment and industrial riots in the country,” Stalin said asking for the OBOH to intervene.